It's hard to fathom, but a large majority of drivers have purchased from the same company for at least the last four years, and roughly 40% of drivers have never compared rates from other carriers. The average driver in Colorado Springs can save up to $610 each year just by getting comparison quotes, but they don't believe how much money they would save if they switch to a new company.
The most effective way to get more affordable auto insurance rates in Colorado Springs is to make a habit of regularly comparing prices from insurers who sell insurance in Colorado. Price quotes can be compared by completing these steps.
- Take a few minutes and learn about the coverage provided by your policy and the things you can change to keep rates in check. Many factors that cause rate increases such as your driving record and poor credit history can be remedied by being financially responsible and driving safely.
- Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only quote rates from one company like GEICO or Allstate, while independent agents can give you price quotes for a wide range of companies.
- Compare the new quotes to the premium of your current policy to see if you can save by switching companies. If you can save some money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Notify your current company of your intention to cancel your current car insurance policy and submit a signed application and payment to your new insurance company. As soon as you receive it, place the new proof of insurance certificate in a readily accessible location in your vehicle.
An important part of this process is to make sure you're comparing identical deductibles and limits on each price quote and and to get price quotes from every insurance company. This enables an accurate price comparison and maximum price selection.
Shopping around for the most affordable insurance coverage in Colorado Springs is quite easy. Just about anyone who compares rates for insurance will more than likely be able to cut their insurance bill. But Colorado car owners do need to understand how companies sell online and use this information to your advantage.
Discounts mean cheaper rates for Porsche Cayenne insurance in Colorado Springs
Car insurance is not cheap, but there are discounts available to cut the cost considerably. Some discounts apply automatically at the time of purchase, but lesser-known reductions have to be specially asked for before being credited.
- Good Student - A discount for being a good student can earn a discount of 20% or more. Many companies even apply the discount to college students up until you turn 25.
- Discount for Multiple Policies - When you combine your homeowners and auto insurance with the same company you may save up to 20% off your total Cayenne insurance premium.
- Military Deployment Discount - Having a family member in the military can result in better rates.
- Telematics Data Discounts - People who choose to allow companies to look at driving manner by installing a telematics device such as Progressive's Snapshot and State Farm's In-Drive could possibly reduce rates if they show good driving skills.
- Low Mileage - Driving less may enable drivers to earn lower rates on the low mileage vehicles.
As a sidenote, most discounts do not apply to the entire cost. Most only cut the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears you can get free auto insurance, it just doesn't work that way. Any amount of discount should help reduce your overall bill.
The illustration below shows the difference between Porsche Cayenne yearly insurance costs with and without discounts. The price estimates are based on a male driver, no driving violations, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, marriage, claim-free, multi-policy, and safe-driver discounts applied.
To choose insurance companies with discount rates in Colorado Springs, click here.
How to buy Porsche Cayenne insurance in Colorado Springs, CO
It's important to know that comparing more rates from different companies gives you a better chance of getting a lower rate than you're paying now. Not every company allows you to get online price quotes, so you need to compare prices from the smaller companies as well.
The providers in the list below can provide quotes in Colorado. To find cheaper auto insurance in CO, it's highly recommended you visit as many as you can to get the most competitive price.
Porsche Cayenne insurance charts and tables
The coverage information shown below covers a range of policy rates for Porsche Cayenne models. Having knowledge of how policy premiums are calculated can be useful when making decisions on which insurance to purchase.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayenne S Transyberia||$196||$410||$330||$20||$98||$1,054||$88|
|Cayenne GTS PD Edition 3||$212||$452||$330||$20||$98||$1,112||$93|
|Cayenne Turbo S||$262||$536||$330||$20||$98||$1,246||$104|
|Get Your Own Custom Quote Go|
Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Price information does not factor in garaging location in Colorado Springs which can modify auto insurance rates considerably.
The information below demonstrates how deductible levels and can change Porsche Cayenne insurance costs for different insured age categories. The premiums are based on a married male driver, full physical damage coverage, and no additional discounts are factored in.
Porsche Cayenne insurance premiums by gender and age
The diagram below visualizes the comparison of Porsche Cayenne insurance costs for male and female drivers. The premium estimates are based on no accidents or driving violations, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no additional discounts are factored in.
Porsche Cayenne liability-only versus full coverage
The diagram below shows the comparison of Porsche Cayenne auto insurance rates with full coverage and liability only. Data assumes a clean driving record, no claims, $500 deductibles, drivers are not married, and no policy discounts are applied.
When to buy liability coverage only
There is no set guideline to exclude physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let's say your Porsche Cayenne book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $2,000 after paying the physical damage deductible. If you are currently paying more than $200 annually to have full coverage, then you may need to consider dropping full coverage.
There are some conditions where dropping physical damage coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder's interest in the vehicle. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.
You Can Change Your Insurance Costs
Consumers need to have an understanding of the rating factors that help determine auto insurance rates. If you have a feel for what influences your rates, this empowers consumers to make smart changes that may reward you with lower rates.
Shown below are some of the most common factors used by insurance companies to determine your rate level.
Auto insurance policy lapses increase auto insurance rates - Having a lapse in insurance coverage will be a sure-fire way to bump up your auto insurance costs. In addition to paying higher premiums, failure to provide proof of insurance could result in fines or a revoked license. You may then have to file a SR-22 with the Colorado department of motor vehicles.
More traffic means higher claims - Choosing to live in smaller towns and rural areas of the country can be a good thing when it comes to auto insurance. Urban drivers have to deal with congested traffic and longer commute times. Fewer people means fewer accidents in addition to lower liability claims.
Lower rates by increasing deductibles - Protection for physical damage, also called 'full coverage', covers damage that occurs to your Porsche. Some examples of covered claims are running into the backend of another car, flood damage, and burglary. The deductibles you choose are the amount of money you are willing to pay if you file a covered claim. The more money the insured has to pay upfront, the better rate you will receive.
Do you have a demanding employer? - Occupational choices like doctors, architects, and stock brokers are shown to have higher rates than the rest of us due to high stress and lengthy work days. Conversely, occupations such as actors, athletes and performers have lower than average premiums.
Too many auto insurance claims and you'll pay more - Auto insurance companies in Colorado give cheaper rates to people who only file infrequent claims. If you file a lot of claims you can expect either a policy non-renewal or much higher rates. Your insurance policy is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.
Youthful drivers cost more - Teen drivers in Colorado have been known to be less responsible with other occupants in the car therefore auto insurance rates are much higher. More experienced drivers are viewed as being more responsible, statistically cause fewer accidents, and are generally more financially stable.
The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Porsche Cayenne insurance loss data - Companies analyze claim trends for every vehicle when they calculate premium rates for each model. Vehicles that the data determines to have high amounts or severity of claims will cost more to insure.
The table below demonstrates the insurance loss data for Porsche Cayenne vehicles. For each policy coverage, the claim amount for all vehicles, regardless of manufacturer or model, is set at 100. Percentages below 100 indicate better than average losses, while values that are above 100 indicate more frequent losses or tendency to have higher losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche Cayenne 4dr 4WD||176||100||138||58||53||77|
|Porsche Cayenne Hybrid 4dr 4WD||119|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance agencies near you
Many drivers just prefer to go talk to an agent and doing that can be a smart decision A nice benefit of comparing rate quotes online is the fact that you can find cheap insurance rates and still have an agent to talk to. Putting coverage with neighborhood insurance agencies is still important in Colorado Springs.
To make it easy to find an agent, after completing this form (opens in new window), your information is instantly submitted to local insurance agents who will give you bids to get your business. It's much easier because you don't need to contact any insurance agencies as quotes are delivered to you directly. You can find lower rates AND an agent nearby. If you want to compare prices from a specific insurance provider, you would need to search and find their rate quote page and fill out the quote form the provide.
Two types of car insurance agents
If you're trying to find a reputable insurance agent or broker, it can be helpful to understand the types of insurance agents that you can choose from. Insurance agents can be described as either independent or exclusive.
Independent Insurance Agencies or Brokers
Agents that choose to be independent do not write with just one company and that gives them the ability to insure through many companies and find you the best rates. If your agent finds better pricing, the agent simply finds a different carrier and that require little work on your part. When comparison shopping, you definitely need to get insurance quotes from a couple of independent agencies so that you have a good selection of quotes to compare. They also have the ability to place coverage with less well-known companies that many times have cheaper rates.
Listed below is a partial list of independent insurance agents in Colorado Springs who may be able to give you free rate quotes.
- A Better Choice Auto Insurance
1863 N Circle Dr - Colorado Springs, CO 80909 - (719) 667-1301 - View Map
- O'Donnell Agency Inc
707 S Tejon St - Colorado Springs, CO 80903 - (719) 227-7100 - View Map
- Jensen Insurance Agency
125 N Parkside Dr #201f - Colorado Springs, CO 80909 - (719) 635-9557 - View Map
Exclusive Insurance Agents
Exclusive agents work for only one company like AAA, Allstate, State Farm, or Farmers Insurance. These agents are not able to compare rates from other companies so you might not find the best rates. Exclusive agencies are usually well trained on their company's products which helps them sell insurance even at higher premiums. Many people buy from the same agent for years mainly due to the prominence of the brand rather than having low rates.
Below are exclusive agents in Colorado Springs that are able to give price quotes.
- Ross Silva Agency - American Family Insurance
2746 E Bijou St - Colorado Springs, CO 80909 - (719) 597-2800 - View Map
- Farmers Insurance - Michael Hendrickson
24 S Weber St #135 - Colorado Springs, CO 80903 - (719) 572-5938 - View Map
- Dave Beadles - State Farm Insurance Agent
308 W Fillmore St #106 - Colorado Springs, CO 80907 - (719) 632-5433 - View Map
Choosing an insurance agency shouldn't rely on just the premium amount. Any agent in Colorado Springs should be forthright in answering these questions:
- Will their companies depreciate repairs to your car based on the mileage?
- What company holds the largest book of business for them?
- Is auto insurance their primary focus in Colorado Springs?
- Where are claims handled?
- If you have an accident, will your rates go up?
- How experienced are they in personal risk management?
- Does the agent have professional designations like CIC, CPCU or AIC?
After talking to the agent and getting satisfactory answers for all questions you ask and a good coverage price, it's possible that you found a car insurance agent that meets the requirements to properly service your insurance policy. But keep in mind consumers can terminate your policy whenever you want so never feel that you are permanently stuck with the insurance policy for the entire policy term.
Why you need auto insurance
Even though Colorado Springs Cayenne insurance rates can get expensive, auto insurance may be required and benefits you in several ways.
- Just about all states have minimum liability requirements which means state laws require a specific minimum amount of liability insurance in order to drive the car legally. 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 have a loan on your Cayenne, almost every bank will make it a condition of the loan that you carry insurance to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the bank may buy a policy for your Porsche for a much higher rate and force you to pay for the much more expensive policy.
- Insurance safeguards both your assets and your Porsche. Insurance will also pay for all forms of medical expenses for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also covers legal expenses if you are sued as the result of an accident. If your Porsche gets damaged, your auto insurance policy will pay to repair the damage.
The benefits of having auto insurance outweigh the cost, particularly when you have a large claim. On average, a vehicle owner in Colorado Springs is wasting up to $865 each year so you should quote rates once a year at a minimum to save money.
Cheap car insurance premiums are possible
While you're price shopping online, you should never skimp on coverage in order to save money. In too many instances, someone dropped comprehensive coverage or liability limits only to find out that they should have had better coverage. Your focus should be to purchase plenty of coverage at the best cost, but don't skip important coverages to save money.
People change insurance companies for a variety of reasons including policy non-renewal, policy cancellation, an unsatisfactory settlement offer or high prices. Regardless of your reason for switching companies, finding a new car insurance company is pretty easy and you might even save some money in the process.
Cheaper Porsche Cayenne insurance in Colorado Springs is definitely available from both online companies in addition to many Colorado Springs insurance agents, so you need to shop Colorado Springs car insurance with both to have the best rate selection. There are still a few companies who may not provide the ability to get quotes online and usually these smaller providers work with independent agents.
More tips and info about car insurance is available at these sites:
- Warning systems don't curb driver distraction (Insurance Institute for Highway Safety)
- Who Has the Cheapest Colorado Springs Auto Insurance Rates for State Employees? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with Accidents in Colorado Springs? (FAQ)
- Who Has Cheap Colorado Springs Auto Insurance for Real Estate Agents? (FAQ)
- Who Has the Cheapest Colorado Springs Car Insurance Rates for a 20 Year Old Male? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance for Nurses? (FAQ)
- How Much are Car Insurance Quotes for a Subaru Outback in Colorado Springs? (FAQ)
- How Much is Colorado Springs Car Insurance for a Toyota 4Runner? (FAQ)
- Collision Coverage (Liberty Mutual)
- Older Drivers FAQ (iihs.org)