Are you sick and tired of not being able to scrape enough together to pay your auto insurance bill each month? Your situation is no different than the majority of other consumers in Colorado.
A study showed that nearly 70% of customers have been with the same company for at least four years, and approximately 38% of consumers have never taken the time to shop around. With the average premium in America being $1,847, drivers can save approximately $860 each year just by getting comparison quotes, but they think it’s difficult to find lower-cost rates by getting comparison quotes.
Popular companies such as State Farm, GEICO and Farmers Insurance promote their brand names with ads and it can be hard to ignore the promise of big savings and take the time to shop coverage around.
If you have a policy now, you should be able to get lower rates using this information. Choosing the best rates in Colorado Springs is not that difficult as long as you know where to start. But Colorado car owners must comprehend how the larger insurance companies set your policy premium because it can help you find the best coverage.
There are several ways to compare rate quotes from different companies. The fastest way to find cheaper Volvo XC70 rates involves getting comparison quotes online.
Getting free quotes online is quite simple, and it takes the place of having to call or drive to and from local Colorado Springs insurance agencies. The internet eliminates the need for an insurance agent unless you have a complicated situation and need the personal advice only provided by licensed Colorado Springs agents. It is possible to comparison shop online but buy from a local insurance agent. It’s important to know that comparing more quotes will improve the odds of getting the best price. Not every company does online Colorado Springs XC70 insurance quotes, so you need to compare quotes from the smaller companies as well.
The companies shown below offer price quotes in Colorado. If you wish to find the cheapest car insurance in Colorado Springs, we recommend you get prices from several of them to get the best price comparison.
Car insurance statistics for a Volvo XC70
The table displayed next highlights different policy rates for Volvo XC70 models. Understanding how insurance policy premiums are established helps drivers make informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XC70 3.2 AWD Station Wagon||$294||$556||$448||$26||$134||$1,458||$122|
|XC70 T6 AWD 4-Dr||$294||$640||$448||$26||$134||$1,542||$129|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in specific garaging location which can revise auto insurance rates considerably.
Gender-based car insurance rates by age in Colorado Springs
The information below shows the difference between Volvo XC70 premium costs for male and female drivers. Data assumes no claims or driving citations, full coverage, $100 deductibles, drivers are not married, and no discounts are applied.
Rate difference between full and liability-only coverage
The diagram below illustrates the difference between Volvo XC70 premium costs with full physical damage coverage compared to only buying liability only. The premiums assume a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no additional discounts are factored in.
Are you wasting money paying for full coverage?
There is no set guideline of when to phase out physical damage coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s assume your Volvo XC70 book 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 paying your deductible. If it’s costing you more than $200 annually to have full coverage, then it might be time to consider dropping full coverage.
There are some circumstances where removing full coverage is not a good plan. If you still have a loan on your vehicle, you have to keep 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 totaled, you should not consider dropping full coverage.
Companies offer many types of discounts on Volvo XC70 insurance in Colorado Springs
Some insurance providers do not list all their discounts in an easy-to-find place, so the list below details some of the best known and also the more inconspicuous credits available to bring down your rates.
- Discount for Swiching Early – A few insurance companies allow discounts for buying a new policy prior to your current XC70 insurance policy expiration. This can save 10% or more.
- Driver Safety – Taking time to complete a driver safety course could earn you a small percentage discount and make you a better driver.
- Accident Forgiveness – This one isn’t a discount, but certain companies will let one accident slide before hitting you with a surcharge with the catch being you have to be claim-free for a particular time prior to the accident.
- Pay Early and Save – If you pay your entire premium ahead of time as opposed to paying monthly you may have a lower total premium amount.
- Active Service Discounts – Having a deployed family member may qualify for rate reductions.
- Smart Student Discounts – This discount can earn a discount of 20% or more. Earning this discount can benefit you well after school through age 25.
- Savings for New Vehicles – Putting car insurance coverage on a new XC70 can cost up to 25% less because newer models have to meet stringent safety requirements.
One last thing about discounts, most of the big mark downs will not be given to your bottom line cost. Most only reduce specific coverage prices like comp or med pay. So even though you would think it’s possible to get free car insurance, you won’t be that lucky.
The information below shows the comparison of Volvo XC70 insurance premiums with and without some available policy discounts. The costs are based on a female driver, no claims or violations, Colorado state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, multi-policy, multi-car, and claim-free discounts applied.
Companies that have some of the discounts shown above are:
If you need lower rates, check with each company or agent to give you their best rates. Depending on the company, some discounts may not apply in every state. To find car insurance companies with significant discounts in Colorado, follow this link.
Insurance in Colorado serves several purposes
Despite the high cost of buying insurance for a Volvo XC70 in Colorado Springs, insuring your vehicle may be required and benefits you in several ways.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection if you want to drive 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 your Volvo XC70 has a lienholder, it’s guaranteed your bank will make it mandatory that you buy full coverage to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank will be required to insure your Volvo for a lot more money and require you to fork over the higher price.
- Insurance safeguards both your assets and your Volvo XC70. Insurance will pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, your policy will pay all costs to repair after the deductible has been paid.
The benefits of carrying adequate insurance definitely exceed the price paid, particularly if you ever have a claim. As of last year, the average driver in Colorado is overpaying over $810 a year so compare quotes from several companies each time the policy renews to save money.
Insurance agents can help
A lot of people prefer to get professional advice from a licensed agent and doing so can bring peace of mind An additional benefit of comparing insurance online is that drivers can save money and get cheap insurance rates and still choose a local agent.
By using this form (opens in new window), your insurance coverage information gets sent to local insurance agents who want to provide quotes for your insurance coverage. There is no need to even leave your home because quoted prices will be sent to you directly. It’s the lowest rates and work with a local agent. If you want to compare prices from a specific company, feel free to find their quoting web page to submit a rate quote request.
Finding the right provider needs to be determined by more than just a cheap price quote. Any agent in Colorado Springs should be forthright in answering these questions:
- Is the quote a firm price?
- Do they write coverage based solely on cost?
- Do they have any clout with companies to ensure a fair claim settlement?
- How many years have they been established?
- Is the agency involved in supporting local community causes?
- Do they regularly work with personal auto policies in Colorado Springs?
If you are wanting to purchase insurance from a reliable agent, it’s important to understand the different types of agencies and how they can service your needs differently. Agents in Colorado Springs are considered either independent agents or exclusive agents depending on their employer.
Exclusive Insurance Agents
Exclusive insurance agents can only write with one company and some examples include State Farm, AAA, Farmers Insurance or Allstate. These agents are unable to compare rates from other companies so they have to upsell other benefits. Exclusive agents are well trained on sales techniques which can be an advantage.
Shown below is a short list of exclusive insurance agents in Colorado Springs who may provide you with price quote information.
American Family Insurance – Mario Aragon Agency Inc.
1135 E Fillmore St – Colorado Springs, CO 80907 – (719) 570-0707 – View Map
Independent Insurance Agents
Agents in the independent channel often have many company appointments so as a result can place your coverage through many companies and find the cheapest rate. If you want to switch companies, your agent can switch companies and that require little work on your part.
If you are trying to find cheaper rates, we recommend you compare quotes from at a minimum one independent agency in order to compare the most rates.
Shown below is a list of independent agents in Colorado Springs that are able to give price quotes.
ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave – Colorado Springs, CO 80904 – (719) 473-6262 – View Map