Cheapest Insurance for a Chevy Traverse in Colorado Springs

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Insurance quote for Chevy Traverse in Colorado SpringsIt takes a little time, but the best way to save money on car insurance rates is to start comparing prices regularly from providers in Colorado Springs. Prices can be compared by following these guidelines.

Step 1: Gain an understanding of how companies set rates and the steps you can take to keep rates in check. Many things that increase rates such as accidents, traffic violations, and a negative credit rating can be improved by making minor driving habit or lifestyle changes. Keep reading for the details to find cheap prices and get bigger discounts that may have been overlooked.

Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like Progressive or State Farm, while agents who are independent can quote rates for a wide range of companies. View prices

Step 3: Compare the new rate quotes to your current policy and determine if cheaper Traverse coverage is available. If you can save money, make sure there is no lapse in coverage.

Step 4: Give notification to your agent or company of your decision to cancel your existing policy and submit payment and a signed application to your new agent or company. When you receive it, place the new certificate verifying coverage in an easily accessible location in your vehicle.

The most important part of this process is that you use similar limits and deductibles on every price quote and and to get prices from as many car insurance companies as possible. This guarantees a fair rate comparison and a thorough price selection.

Everyone knows that auto insurance companies don't want policyholders to shop around. Drivers who get price comparisons are inclined to buy a different policy because they have a good chance of finding more affordable rates. A survey found that people who compared rate quotes regularly saved as much as $865 a year compared to people who don't regularly compare prices.

If saving the most money on auto insurance is the reason for your visit, then having an understanding of how to compare insurance coverage can make it simple to find affordable coverage.

There are several ways of comparing rates from all the different companies. The simplest method to compare insurance prices involves getting comparison quotes online.

Getting free rate quotes online is quite simple, and it makes it obsolete to drive around to different Colorado Springs agent offices. Shopping for insurance online makes this unnecessary unless you're the type of person who wants the peace of mind of an agent trained in personal lines coverage. Drivers can comparison shop online but buy from a local insurance agent.

Just keep in mind that making a lot of price comparisons helps locate lower pricing. Some smaller insurers do not give rate quotes online, so you need to compare prices from those companies as well.

The companies in the list below provide comparison quotes in Colorado. If you wish to find the best auto insurance in Colorado Springs, we recommend you visit as many as you can in order to find the most competitive rates.

Buying the right vehicle insurance in Colorado is an important decision

Despite the potentially high cost of Chevy Traverse insurance, buying insurance may be mandatory for several reasons.

  • The majority of states have mandatory liability insurance requirements which means state laws require a specific level of liability if you drive a vehicle. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
  • If you took out a loan on your vehicle, almost every bank will require that you have insurance to protect their interest in the vehicle. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Chevy at a much higher rate and force you to pay the higher price.
  • Insurance protects both your vehicle and your personal assets. It will also cover medical bills for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance will also pay to defend you if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, your insurance policy will pay all costs to repair after the deductible has been paid.

The benefits of insuring your Traverse definitely exceed the cost, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer overpays as much as $865 each year so shop around every year to ensure rates are competitive.

Premium rates and analysis

The rate table displayed next highlights different rate quotes for Chevy Traverse models. Being more informed about how insurance rates are figured can be valuable when making smart policy decisions.

Chevrolet Traverse Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $252 $304 $392 $24 $118 $1,090 $91
Traverse LS AWD $284 $304 $392 $24 $118 $1,122 $94
Traverse LT 2WD $284 $304 $392 $24 $118 $1,122 $94
Traverse LT AWD $284 $368 $392 $24 $118 $1,186 $99
Traverse LTZ 2WD $284 $368 $392 $24 $118 $1,186 $99
Traverse LTZ AWD $284 $368 $392 $24 $118 $1,186 $99
Get Your Own Custom Quote Go

Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price information does not factor in Colorado Springs location which can modify prices substantially.

Physical damage deductibles: Should you raise them?

One frequently asked question is which comprehensive and collision deductibles to buy. The data tables below lay out the differences in price between low and high insurance deductibles. The first rate quote example uses a $250 deductible for physical damage and the second set of rates uses a $1,000 deductible.

Chevrolet Traverse insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $272 $376 $298 $18 $90 $1,079 $90
Traverse LS AWD $306 $376 $298 $18 $90 $1,113 $93
Traverse LT 2WD $306 $376 $298 $18 $90 $1,113 $93
Traverse LT AWD $306 $458 $298 $18 $90 $1,195 $100
Traverse LTZ 2WD $306 $458 $298 $18 $90 $1,195 $100
Traverse LTZ AWD $306 $458 $298 $18 $90 $1,195 $100
Get Your Own Custom Quote Go
Chevrolet Traverse insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $168 $236 $298 $18 $90 $810 $68
Traverse LS AWD $190 $236 $298 $18 $90 $832 $69
Traverse LT 2WD $190 $236 $298 $18 $90 $832 $69
Traverse LT AWD $190 $288 $298 $18 $90 $884 $74
Traverse LTZ 2WD $190 $288 $298 $18 $90 $884 $74
Traverse LTZ AWD $190 $288 $298 $18 $90 $884 $74
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Prices do not factor in vehicle location which can modify price quotes significantly.

Based on the data above, we can derive that using a $250 deductible costs roughly $25 more each month or $300 each year across all Chevrolet Traverse models than opting for the higher $1,000 deductible. Since you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you go at least 30 months between claim filings, you would probably be better off if you choose the higher deductible.

Calculate savings of higher deductibles

Average monthly premium for $250 deductibles: $96
Average monthly premium for $1,000 deductibles (subtract): - $71
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

One thing to be aware of is that increasing deductibles to lower your rates results in a higher out-of-pocket expense when you have a physical damage claim. You need to make sure you have enough money in the bank in the event you need to pay the deductible.

The illustration below shows how choosing a deductible and can raise or lower Chevy Traverse insurance prices for each different age group. The rate quotes are based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.

Males versus Females

The example below shows the comparison of Chevy Traverse annual premium costs for male and female drivers. The data is based on a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, single marital status, and no other discounts are factored in.

You may qualify for discounts for Chevy Traverse insurance in Colorado Springs

Car insurance is not cheap, but you might find some hidden discounts that many consumers don't even know exist. Most are applied when you get a quote, but a few must be inquired about prior to getting the savings.Save money with discounts

  • Driver Training Discounts - Taking a course in safe driver may get you a small discount if your company offers it.
  • Accident-Free Discounts - Insureds with no claims or accidents pay less in comparison to bad drivers.
  • Federal Government Employee - Employees or retirees of the government could qualify for a slight premium decrease with select insurance companies.
  • Discount for Life Insurance - Not all companies offer life insurance, but some may give you a break if you buy some life insurance too.
  • New Car Discount - Insuring a vehicle that is new is cheaper since new model year vehicles are generally safer.
  • Active Service Discounts - Being on active deployment in the military may qualify for rate reductions.
  • Theft Deterrent - Cars and trucks that have factory anti-theft systems are less likely to be stolen and that can save you a little bit as well.

Don't be surprised that some of the credits will not apply to your bottom line cost. A few only apply to the price of certain insurance coverages like liability, collision or medical payments. Even though it appears adding up those discounts means a free policy, that's just not realistic.

The diagram below shows the comparison of Chevy Traverse insurance prices with and without discounts applied to the rates. The price estimates are based on a male driver, no claims or violations, Colorado state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, multi-car, marriage, homeowner, and claim-free discounts applied.

The best car insurance companies and a selection of discounts can be read below.

  • GEICO discounts include military active duty, good student, daytime running lights, defensive driver, and federal employee.
  • Travelers offers discounts including multi-car, good student, continuous insurance, save driver, new car, and home ownership.
  • Nationwide may include discounts for multi-policy, anti-theft, good student, easy pay, business or organization, and accident-free.
  • Farmers Insurance may have discounts that include electronic funds transfer, distant student, pay in full, mature driver, switch companies, youthful driver, and good student.
  • Esurance includes discounts for Pac-12 alumni, online quote, renters, emergency road assistance, Switch & Save, anti-theft, and good driver.
  • State Farm may offer discounts for Steer Clear safe driver discount, good student, passive restraint, good driver, safe vehicle, Drive Safe & Save, and multiple autos.
  • Progressive has discounts for online signing, homeowner, continuous coverage, multi-policy, online quote discount, and multi-vehicle.
  • Mercury Insurance offers premium reductions for multi-car, good driver, professional/association, ease of repair, and good student.

If you want inexpensive Colorado Springs car insurance quotes, ask all companies you are considering how many discounts you can get. Savings might not be available to policyholders in Colorado Springs. To see insurers that offer discounts in Colorado Springs, click this link.