How long has it been since you sat down and looked for the cheapest Ford Explorer insurance in Colorado Springs? Having to pay for high-priced Ford Explorer insurance in Colorado Springs can empty your accounts and put a big crunch on your finances.
Unbelievable but true according to a study nearly 70% of drivers have purchased from the same company for four years or more, and roughly 40% of drivers have never compared rates from other carriers. Consumers in Colorado could save 35% every year by just shopping around, but they don't understand how simple it is to compare other rate quotes.
Big companies like Progressive, GEICO and Farmers Insurance promote their brand names with ads and it is difficult to ignore the promise of big savings and do the work needed to find the best deal.
If you have a policy now, you will be able to buy cheaper insurance using this information. Locating the most cost-effective insurance policy in Colorado Springs is really not that difficult. Although Colorado car owners do need to know the methods companies use to sell online and take advantage of how the system works.
These six discounts can lower your auto insurance quotes
Some insurance providers do not advertise the entire discount list very well, so we took the time to find both well-publicized and also the lesser-known discounts that you can inquire about if you buy Colorado Springs auto insurance online. If you're not getting every credit you deserve, you are paying more than you should be.
- Seat Belt Discounts - Drivers who always wear seat belts and also require passengers to buckle up before driving could save 15% on the premium charged for medical payments and/or PIP.
- Discounts for Good Drivers - Drivers who avoid accidents may receive a discount up to 45% compared to accident prone drivers.
- Student Discount for Driver Training - Cut your cost by having your teen driver complete a driver education course if offered at their school.
- Resident Student - Children living away from Colorado Springs attending college and do not take a car to college may be able to be covered for less.
- Life Insurance Discount - Not all auto insurance companies offer life insurance, but some may give you better premium rates if you take out a life policy as well.
- Driver Safety - Successfully completing a defensive driver course can save you 5% or more and easily pay for the cost of the class.
A little disclaimer on discounts, most discount credits are not given to the whole policy. Most only reduce specific coverage prices like liability, collision or medical payments. So when the math indicates all those discounts means the company will pay you, it doesn't quite work that way.
The chart below shows the comparison of Ford Explorer auto insurance costs with and without discounts applied to the premium. The data is based on a male driver, a clean driving record, no claims, 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 marriage, multi-policy, claim-free, multi-car, homeowner, and safe-driver discounts applied.
A few of the larger companies and a summarized list of policyholder discounts are:
- GEICO offers premium reductions for air bags, driver training, good student, defensive driver, daytime running lights, and military active duty.
- MetLife policyholders can earn discounts including good driver, defensive driver, multi-policy, claim-free, good student, and accident-free.
- State Farm offers discounts for passive restraint, defensive driving training, good student, multiple autos, and good driver.
- Progressive has discounts for good student, multi-vehicle, online signing, homeowner, multi-policy, continuous coverage, and online quote discount.
- Mercury Insurance includes discounts for annual mileage, multi-policy, ease of repair, good driver, and professional/association.
- 21st Century may offer discounts for anti-lock brakes, air bags, student driver, homeowners, and good student.
- Allstate offers discounts including teenSMART discount, passive restraint, premier discount, early signing, and anti-theft.
When quoting, ask every prospective company to apply every possible discount. Some of the earlier mentioned discounts might not be offered in Colorado Springs.
The majority of larger companies allow you to get coverage prices online. Getting Ford Explorer insurance prices online doesn't take much effort as you simply type in the coverages you want on the page. Once you submit the form, their rating system sends out for your driving record and credit report and provides a quote based on these factors. Using the web to get quotes for Ford Explorer insurance in Colorado Springs makes comparing rates easy, and it's necessary to compare as many rates as possible in order to find the best insurance rates.
To compare rates now, compare rates from the companies below. If you have coverage now, it's recommended you complete the form with deductibles and limits exactly as shown on your declarations page. This helps ensure you will have rate quotes for similar coverage.
The auto insurance companies shown below have been selected to offer price comparisons in Colorado. If multiple companies are listed, we recommend you get rate quotes from several of them in order to find the most competitive rates.
Ford Explorer coverage analysis
The table shown next showcases estimates of rate quotes for Ford Explorer models. Being aware of how insurance policy premiums are determined can help drivers make smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Explorer XLT 2WD||$302||$448||$352||$20||$106||$1,228||$102|
|Explorer Eddie Bauer 2WD||$302||$448||$352||$20||$106||$1,228||$102|
|Explorer XLT 4WD||$302||$448||$352||$20||$106||$1,228||$102|
|Explorer XLT AWD||$302||$448||$352||$20||$106||$1,228||$102|
|Explorer Eddie Bauer 4WD||$342||$546||$352||$20||$106||$1,366||$114|
|Explorer Eddie Bauer AWD||$342||$546||$352||$20||$106||$1,366||$114|
|Explorer Limited 2WD||$342||$546||$352||$20||$106||$1,366||$114|
|Explorer Limited 4WD||$342||$546||$352||$20||$106||$1,366||$114|
|Explorer Limited AWD||$342||$546||$352||$20||$106||$1,366||$114|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Premium costs do not factor in vehicle garaging location which can revise coverage prices greatly.
The diagram below highlights how deductible selection and can increase or decrease Ford Explorer insurance rates for different ages of insureds. The rate quotes are based on a single male driver, full coverage, and no additional discounts are factored in.
Impact of age and gender on car insurance rates
The illustration below shows the comparison of Ford Explorer premium costs for male and female drivers. The data assumes a clean driving record, no claims, full coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.
Full coverage or liability only
The example below illustrates the comparison of Ford Explorer car insurance rates with liability coverage only compared to full coverage. The rates are based on no claims or driving violations, $1,000 deductibles, single marital status, and no discounts are applied.
Deciding between full coverage and liability only
There isn't a steadfast formula of when to eliminate physical damage coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let's assume your Ford Explorer replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after you pay the deductible. If you are paying more than $200 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some conditions where only buying liability is not in your best interest. If you haven't paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.
Can't I compare prices from local Colorado Springs auto insurance agents?
Some consumers would prefer to buy from a local agent and doing so can bring peace of mind A nice benefit of getting online price quotes is that you can find cheap car insurance rates and also buy local. Buying from local insurance agencies is still important in Colorado Springs.
By using this form (opens in new window), your insurance coverage information gets sent to participating agents in Colorado Springs who can give free rate quotes and help you find cheaper coverage. You never need to search for an agent since rate quotes are delivered to you instantly. You can find the lowest rates AND a local agent. If you want to compare prices for a specific company, you would need to navigate to their website and submit a quote form there.
Independent or Exclusive: It's your choice
When narrowing the list to find a reliable insurance agent, there are a couple of types of agencies that you can choose from. Car insurance policy providers can be categorized as either exclusive or independent agents depending on their company appointments.
Agents that elect to be independent do not write with just one company so as a result can place your coverage with multiple insurance companies enabling the ability to shop coverage around. If your agent finds better pricing, an independent agent can move your coverage which requires no work on your part. When shopping rates, we recommend you include price quotes from at a minimum one independent agency to ensure the widest selection of prices.
Below are independent insurance agencies in Colorado Springs that may be able to give you cheap rate quotes.
Exclusive Car Insurance Agents
Exclusive agencies generally can only insure with one company like State Farm, AAA, and Liberty Mutual. They generally cannot provide rate quotes from other companies so they have to upsell other benefits. They are well trained on sales techniques and that enables them to sell even at higher rates.
Shown below are exclusive insurance agencies in Colorado Springs willing to provide price quote information.
Choosing the best car insurance agent requires you to look at more than just a cheap quote. Any good agent in Colorado Springs should know the answers to these questions.
- Is coverage determined by price?
- What company holds the largest book of business for them?
- How long has their agency been in business in Colorado Springs?
- Do they assist clients in filing claims?
- Are they in the agency full-time?
- Do the companies they represent have a solid financial rating?
- Are there any extra charges for paying monthly?
- Do they offer claims assistance after hours?
After getting reasonable responses to these questions and cheap Explorer insurance quotes, you may have just found an insurance agency that meets the criteria to insure your vehicles. But remember, consumers can terminate coverage any time you want so don't feel you are locked into a specific agent with no way to switch.
Why you need to buy insurance
Despite the high insurance cost for a Ford Explorer in Colorado Springs, insurance is required in Colorado but it also protects you in many ways.
- Most states have mandatory insurance requirements which means the state requires specific minimum amounts of liability coverage in order to get the vehicle licensed. 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 your vehicle has a loan, almost all lenders will make it a condition of the loan that you have full coverage to ensure they get paid if you total the vehicle. If you default on your policy, the lender may insure your Ford at a more expensive rate and force you to reimburse them for the expensive policy.
- Insurance safeguards both your assets and your Ford Explorer. It will also reimburse you for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, your insurance policy will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance outweigh the cost, especially when you need to use it. Today the average American driver is wasting up to $869 every year so you should quote your policy with other companies at every renewal to ensure rates are inline.
Information about specific coverages
Knowing the specifics of your car insurance policy can help you determine which coverages you need for your vehicles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are typical coverage types found on the average car insurance policy.
Liability auto insurance
Liability coverage will cover damages or injuries you inflict on people or other property in an accident. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 25/50/15 that translate to $25,000 in coverage for each person's injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $15,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage protects against things like structural damage, pain and suffering, emergency aid and legal defense fees. How much coverage you buy is up to you, but you should buy as large an amount as possible. Colorado requires drivers to carry at least 25/50/15 but it's recommended drivers buy more liability than the minimum.
The illustration below demonstrates why buying low liability limits may not be adequate.
Collision insurance pays to fix your vehicle from damage resulting from a collision with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision coverage pays for claims like driving through your garage door, hitting a mailbox, rolling your car and backing into a parked car. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Another option is to bump up the deductible on your Explorer to save money on collision insurance.
Medical expense coverage
Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses like ambulance fees, EMT expenses, funeral costs, surgery and X-ray expenses. They can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims such as fire damage, a tree branch falling on your vehicle, hitting a deer and vandalism. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle's value is low consider dropping full coverage.
Uninsured or underinsured coverage
This coverage protects you and your vehicle when the "other guys" either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and damage to your Ford Explorer.
Since a lot of drivers carry very low liability coverage limits (which is 25/50/15), it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important. Usually these limits are similar to your liability insurance amounts.
Best car insurance in Colorado
Buying coverage from a good quality car insurance company can be difficult considering how many companies are available to choose from in Colorado. The information shown next may help you decide which providers to look at when shopping your coverage around.
Top 10 Colorado Springs Car Insurance Companies Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
- Mercury Insurance
Don't give up on cheaper rates
Low-cost Ford Explorer insurance in Colorado Springs can be bought on the web as well as from insurance agents, and you need to price shop both to have the best rate selection. Some insurance companies do not offer online rate quotes and these small insurance companies only sell coverage through local independent agencies.
As you go through the steps to switch your coverage, it's very important that you do not reduce needed coverages to save money. There have been many situations where someone dropped uninsured motorist or liability limits only to regret that it was a big error on their part. Your focus should be to purchase plenty of coverage at the best price while not skimping on critical coverages.
How to find better rates for Ford Explorer insurance in Colorado Springs
If you want to save money, the best way to save money on car insurance rates is to compare quotes once a year from different companies who provide auto insurance in Colorado Springs. Rates can be compared by following these guidelines.
- Spend a few minutes and learn about how car insurance works and the changes you can make to lower rates. Many risk factors that increase rates such as speeding and a less-than-favorable credit rating can be rectified by making minor driving habit or lifestyle changes.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from a single company like GEICO or Allstate, while independent agents can provide price quotes from multiple insurance companies. View prices
- Compare the new rates to your existing coverage and determine if there is any savings. If you find a lower rate quote, verify that coverage does not lapse between policies.
- Provide notification to your current company of your intent to cancel the current policy and submit a down payment along with a signed application to the new company. Once received, place your new certificate verifying proof of insurance in your glove compartment.
One thing to point out is to compare the same coverage limits and deductibles on each quote and to quote with as many different insurance providers as possible. Doing this enables the most accurate price comparison and plenty of rates choose from.
To read more, take a look at the articles below:
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Who Has the Cheapest Colorado Springs Auto Insurance Rates for State Employees? (FAQ)
- Who Has Cheap Auto Insurance for Business Use in Colorado Springs? (FAQ)
- Who Has Cheap Colorado Springs Car Insurance for a 20 Year Old Female? (FAQ)
- Who Has the Cheapest Colorado Springs Auto Insurance Quotes for a Nissan Sentra? (FAQ)
- Collision Coverage (Liberty Mutual)
- Choosing a Car for Your Teen (State Farm)
- Young Drivers: The High Risk Years Video (iihs.org)