Chevy Malibu insurance policy image courtesy of QuoteInspector.com
We don't have to point out that fact that auto insurance companies don't want you shop around. Drivers who get price quotes annually will most likely buy a new policy because they stand a good chance of finding good coverage at a lower price. Remarkably, a study showed that people who regularly shopped around saved $3,450 over four years compared to those who don't make a habit of comparing rates.
If finding low prices for car insurance in Colorado Springs is why you're here, then having some knowledge of how to quote prices and compare cheaper coverage can help simplify the task of finding more affordable coverage.
If saving money is your primary concern, then the best way to get discount car insurance rates is to compare prices at least once a year from insurers in Colorado Springs. Prices can be compared by following these guidelines.
- It will benefit you to learn about car insurance and the things you can control to drop your rates. Many risk factors that drive up the price like at-fault accidents, careless driving, and poor credit can be remedied by being financially responsible and driving safely. Read the full article for additional ideas to get cheaper coverage and find available discounts that you may qualify for.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO and Allstate, while agents who are independent can provide prices for a wide range of insurance providers. Start a quote
- Compare the new rates to the price on your current policy and determine if there is any savings. If you find better rates and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
An important part of this process is to compare identical deductibles and limits on each price quote and and to compare every insurance company. This provides the most accurate price comparison and plenty of rates choose from.
Low Cost car insurance in Colorado Springs, CO
The providers in the list below provide free rate quotes in Colorado. To get cheap car insurance in Colorado Springs, CO, it's a good idea that you visit two to three different companies to get a more complete price comparison.
Coverage statistics and figures
The table below showcases estimates of insurance premium costs for Chevy Malibu models. Knowing how policy rates are formulated is important for drivers to make smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Premium amounts do not factor in specific garaging location which can increase or decrease coverage prices noticeably.
Male drivers versus female drivers
The information below shows the comparison of Chevy Malibu car insurance rates for male and female drivers. Data assumes no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, single marital status, and no discounts are applied to the premium.
Rate difference between full and liability-only coverage
The chart below shows the comparison of Chevy Malibu car insurance rates with full coverage compared to only the Colorado minimum liability coverage. The premiums assume a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are factored in.
When to stop buying full coverage
There is no clear-cut rule of when to exclude comp and collision coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let's say your Chevy Malibu replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $2,000 after paying the physical damage deductible. If you are paying over $200 a year for comprehensive and collision coverage, then you might consider buying liability only.
There are some situations where dropping full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
How to Lower Your Insurance Rates
Many different elements are considered when quoting car insurance. Some factors are common sense such as traffic violations, but other criteria are not as apparent such as your credit history or your financial responsibility.
The factors shown below are a partial list of the pieces insurance companies consider when setting prices.
- Lower rates with theft deterrents - Choosing a vehicle with advanced anti-theft systems can help bring down rates. Anti-theft features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder auto theft and help lower rates.
- Don't abuse policy claims - If you tend to file frequent claims, you can look forward to either higher rates or even cancellation. Companies in Colorado generally give the lowest premiums to policyholders who are claim-free. Auto insurance is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.
- Your credit score is important - A driver's credit score can be an important factor in your rate calculation. People with high credit scores tend to be better drivers and file fewer claims than drivers who have worse credit. If your credit score is lower than you'd like, you could be paying less to insure your Chevrolet Malibu by spending a little time repairing your credit.
- Where you live plays a part - Choosing to live in smaller towns and rural areas of the country is a positive aspect when shopping for auto insurance. Lower population corresponds to lower accident rates in addition to lower liability claims. Residents of big cities have to deal with congested traffic and a longer drive to work. More time commuting can result in more accidents.
- Single drivers take more risk - Walking down the aisle actually saves money on your insurance bill. Having a significant other means you're less irresponsible and insurance companies like that married drivers tend to have fewer serious accidents.
- Cheaper rates with high coverage deductibles - Your deductibles are the amount of money you are required to spend if a covered claim is submitted. Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of covered claims are colliding with a stationary object, damage caused by hail, and having a roll-over accident. The larger the amount you're willing to pay, the bigger discount you will receive.
Chevy Malibu insurance loss statistics - Insurers analyze claim trends for every vehicle as a way to help calculate a profitable premium price. Models that the data determines to have higher number or severity of losses will cost more for specific coverages.
The next table shows the loss history for Chevy Malibu vehicles. For each coverage category, the claim amount for all vehicles, as a total average, is represented as 100. Percentage numbers below 100 indicate better than average losses, while percentage values above 100 point to more claims or an increased probability of a larger loss.
Chevrolet Malibu Insurance Claim Statistics Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Malibu 94 100 109 139 145 120BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Score discounts to get cheaper Colorado Springs auto insurance quotes
Buying auto insurance is not cheap, but there could be available discounts to cut the cost considerably. Some of these discounts will be visible when you complete an application, but some need to be manually applied before they will apply.
- Bundled Policy Discount - If you can combine your home and auto policy with one company you could save 10% to 20% off each policy.
- Membership in Organizations - Affiliation with qualifying clubs or civic groups can get you a small discount on your next auto insurance statement.
- Senior Citizens - Drivers that qualify as senior citizens are able to get a small discount on rates.
- Discounts for Multiple Vehicles - Having multiple cars on one policy qualifies for this discount.
- One Accident Forgiven - Not necessarily a discount, but some companies like Progressive, Allstate, and Liberty Mutual will forgive one accident without the usual rate increase with the catch being you have to be claim-free for a particular time prior to the accident.
A quick disclaimer, many deductions do not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like liability and collision coverage. If you do the math and it seems like adding up those discounts means a free policy, insurance companies wouldn't stay in business.
The illustration below shows the difference between Chevy Malibu annual premium costs with and without some available policy discounts. The information is based on a female driver, no violations or accidents, Colorado state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, homeowner, multi-car, multi-policy, and safe-driver discounts applied.
Larger auto insurance companies and a partial list of their discounts can be read below.
- 21st Century policyholders can earn discounts including air bags, early bird, student driver, defensive driver, and driver training.
- Progressive discounts include continuous coverage, online quote discount, multi-policy, good student, and homeowner.
- State Farm may include discounts for good student, Drive Safe & Save, student away at school, safe vehicle, and passive restraint.
- Nationwide offers discounts for business or organization, defensive driving, multi-policy, Farm Bureau membership, and good student.
- Esurance has savings for homeowner, DriveSense, emergency road assistance, anti-theft, renters, online shopper, and multi-car.
- The Hartford may offer discounts for vehicle fuel type, bundle, anti-theft, good student, and defensive driver.
If you need affordable Colorado Springs car insurance quotes, ask each insurance company to apply every possible discount. Depending on the company, some discounts might not be offered on policies in Colorado Springs. To find providers who offer cheap Chevy Malibu insurance quotes in Colorado, follow this link.
Compare rates but still have a local Colorado Springs insurance agency
A lot of people still prefer to sit down with an agent and often times that is recommended Professional agents can answer important questions and help file insurance claims. One of the great benefits of comparing rate quotes online is the fact that you can find cheap auto insurance rates but also keep your business local. And buying from small agencies is still important in Colorado Springs.
For easy comparison, once you complete this simple form, your insurance coverage information is immediately sent to participating agents in Colorado Springs who will give competitive quotes for your insurance coverage. It makes it easy because there is no need to find an agent since rate quotes are delivered directly to your email. If you have a need to get a price quote for a specific company, just find their quoting web page to submit a rate quote request.
How to choose the best auto insurance agent in Colorado Springs
If you're trying to find a local Colorado Springs insurance agency, there are a couple of different types of agents and how they are distinctly different. Auto insurance agencies can be categorized as either exclusive agents or independent agents. Either can insure your vehicles, but it is a good idea to know why they differ because it may have an impact on buying decisions.
Independent Auto Insurance Agents
Agents in the independent channel do not sell for just one brand and that enables them to quote your coverage through many different auto insurance companies and find you cheaper rates. If premiums increase, your agent can just switch to a different company and you don't have to do anything.
When comparison shopping, we recommend you get several quotes from several independent agencies in order to compare the most rates. They often place coverage with smaller companies that many times have cheaper rates.
Shown below is a small list of independent agents in Colorado Springs who may be able to give you rate quotes.
- Nationwide Insurance: Jeffrey Lloyd Sudermann Agency
6455 N Union Blvd #104 - Colorado Springs, CO 80918 - (303) 974-7676 - View Map
- CIA-Leavitt Insurance Agency
5585 Erindale Dr #107 - Colorado Springs, CO 80918 - (719) 528-1884 - View Map
- ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave - Colorado Springs, CO 80904 - (719) 473-6262 - View Map
Exclusive agents normally can only provide a single company's rates and some examples include Allstate, State Farm and Farmers Insurance. These agents are unable to shop your coverage around so they really need to provide good service. They are usually well trained on their products and sales techniques which can be an advantage. Consumers frequently use the same agent partially due to the brand rather than low price.
Listed below is a short list of exclusive agents in Colorado Springs that are able to give price quotes.
- Chris Sutherland - State Farm Insurance Agent
6130 Barnes Rd #104 - Colorado Springs, CO 80922 - (719) 598-8211 - View Map
- Brandon Sullivan - State Farm Insurance Agent
5615 Constitution Ave - Colorado Springs, CO 80915 - (719) 597-5000 - View Map
- American Family Insurance - Diane Christensen
1957 W Uintah St - Colorado Springs, CO 80904 - (719) 477-1636 - View Map
Picking a insurance agency requires more thought than just a cheap price quote. Some important questions to ask are:
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Will a damage claim use OEM or aftermarket replacement parts?
- What companies can they write with?
- Does the agent help file claims?
- Do the coverages you're quoting properly cover your vehicle?
Once you have positive responses to these questions as well as cheaper Malibu insurance quotes, it's a good possibility that you have found a car insurance agent that can be relied on to provide auto insurance coverage.
You may need specialized insurance coverage
When quoting and choosing proper insurance coverage, there is no "best" method to buy coverage. Your needs are unique to you.
Here are some questions about coverages that could help you determine whether or not you will benefit from professional help.
- Should I rate my Chevy Malibu as pleasure use or commute?
- Am I getting all the discounts available?
- How much liability coverage do I need in Colorado?
- Am I covered when delivering products for my home-based business?
- Is my dog or cat covered if injured in an accident?
- Does my medical payments coverage pay my health insurance deductible?
- Do I need an umbrella policy?
If you can't answer these questions, you might consider talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form. It's fast, free and may give you better protection.
Persistence pays off
Consumers switch companies for a number of reasons such as denial of a claim, questionable increases in premium, high rates after DUI convictions and even an unsatisfactory settlement offer. It doesn't matter what your reason, choosing a new company is not as difficult as it may seem.
When trying to cut insurance costs, you should never reduce coverage to reduce premium. There have been many cases where consumers will sacrifice liability limits or collision coverage only to discover later that it was a big mistake. The aim is to buy the best coverage you can find for the lowest cost while not skimping on critical coverages.
More affordable auto insurance in Colorado Springs is definitely available on the web and also from your neighborhood Colorado Springs agents, and you should be comparing both to have the best rate selection. Some companies may not offer online quoting and many times these regional insurance providers work with local independent agents.
- What to do at the Scene of an Accident (Insurance Information Institute)
- Who Has Cheap Car Insurance Quotes for Teachers in Colorado Springs? (FAQ)
- Drunk Driving Statistics (Insurance Information Institute)
- Vehicle Safety Ratings (iihs.org)
- All About Airbag Safety (State Farm)
- Where can I buy Insurance? (Insurance Information Institute)