Shocking but true, the vast majority of drivers kept their policy with the same company for more than four years, and nearly 40% of drivers have never compared rates to find affordable insurance. Colorado insurance shoppers could pocket as much as 35% a year, but they just don’t understand the large savings they would see if they just switched companies.
The preferred way to get low-cost car insurance rates in Colorado Springs is to start comparing rates regularly from different companies in Colorado. Price quotes can be compared by completing these steps.
Step 1: Learn about what coverages are included in your policy and the modifications you can make to prevent high rates. Many policy risk factors that result in higher prices such as speeding tickets, careless driving and a not-so-good credit rating can be improved by making minor changes to your lifestyle.
Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only quote rates from a single company like GEICO and Allstate, while independent agents can provide rate quotes for a wide range of companies.
Step 3: Compare the new rate quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find better rates, ensure coverage does not lapse between policies.
The critical component of shopping around is to use the same amount of coverage on each price quote and and to get price estimates from as many carriers as you can. This ensures a level playing field and a thorough selection of prices.
Finding the cheapest car insurance coverage in Colorado Springs is really quite simple as long as you have a good starting point. If you have coverage now, you will surely be able to reduce the price you pay using the concepts you’re about to learn. But Colorado drivers must know how big insurance companies sell online.
You Can Change Your Insurance Prices
When buying car insurance it’s important to understand a few of the rating criteria that help calculate your premiums. If you know what positively or negatively impacts your premiums, this allows you to make good choices that may reward you with big savings.
Listed below are most of the major factors used by insurance companies to determine your prices.
- Where you reside can modify rates – Choosing to live in areas with lower population is a good thing when insuring your vehicles. Less people means reduced accidents and a lower car theft rate. People in densely populated areas have to deal with much more traffic and longer commutes to work. Higher commute times can result in more accidents.
- Drivers with responsible credit save – Having a bad credit score will be a significant factor in your rate calculation. Therefore, if your credit score leaves room for improvement, you could pay less to insure your Ford C-Max Hybrid by improving your credit score. Drivers with high credit ratings tend to be better risks to insure than those with poor credit.
- Careless driving means higher prices – Being a careful driver has a big impact on rates. Careful drivers have lower premiums compared to bad drivers. Just one speeding ticket or other violation can bump up the cost substantially. People who have careless violations like reckless driving or DUI may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to continue driving.
- Safeguard your assets with liability coverage – The liability section of your policy will provide protection if you are ruled to be at fault for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense coverage which can cost a lot. Liability is cheap compared to comp and collision, so drivers should buy more than the minimum limits required by law.
- Eliminate unneeded extra coverages – There are quite a few additional extra coverages that can add up but may not be useful. Add-on coverages like rental car coverage, better glass coverage, and term life insurance are probably not needed. The coverages may be enticing initially, but if you’ve never needed them in the past remove them and pocket the money.
- Deter vehicle theft – Selecting a car model with a theft deterrent system can get you a discount on your car insurance. Anti-theft devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help prevent vehicle theft.
- Experienced drivers pay less – Mature drivers are more cautious drivers, file fewer claims, and are safer drivers. Teenage drivers are statistically shown to be inattentive and easily distracted when behind the wheel and because of this, their car insurance rates are much higher.
Ford C-Max Hybrid claim probability – Insurers include the past claim history for a vehicle as a tool for profitable underwriting. Vehicles that the data shows to have higher claim amounts or frequency will be charged more to insure. The table below demonstrates the insurance loss data for Ford C-Max Hybrid vehicles.
For each policy coverage type, the claim probability for all vehicles compiled together equals 100. Numbers below 100 indicate better than average losses, while numbers shown that are more than 100 point to more losses or tendency to have larger claims.
Insurance Loss Ratings for Ford C-Max Hybrid Vehicles Specific Ford Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Ford C-Max Hybrid 99 92 95 94 89 100BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get discounts on Colorado Springs insurance
Some insurance providers do not advertise the complete list of policy discounts very clearly, so the list below gives a summary of some of the more common as well as some of the hidden ways to save on insurance.
- More Vehicles More Savings – Buying a policy with several vehicles on one policy can get a discount on all vehicles.
- Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn a discount if you purchase auto and life insurance together.
- Online Discount – A handful of companies give back up to $50 for buying your policy on their website.
- Colorado Springs Homeowners Discount – Simply owning a home can save you money because maintaining a house requires personal responsibility.
- Distant Student Discount – Older children who live away from home to go to college and do not take a car to college can be insured at a reduced rate.
A quick disclaimer, most discounts do not apply to the overall cost of the policy. Most cut specific coverage prices like medical payments or collision. Even though the math looks like it’s possible to get free car insurance, you aren’t that lucky. But any discount will definitely lower the premium cost.
To find providers that offer multiple discounts in Colorado Springs, click here.
Cheaper insurance is a realistic goal
More affordable insurance in Colorado Springs can be sourced from both online companies in addition to local insurance agencies, and you should compare rates from both to have the best selection. There are still a few companies who do not provide online rate quotes and usually these regional carriers only sell coverage through local independent agents.
When buying insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. There have been many cases where someone dropped comprehensive coverage or liability limits and learned later that the few dollars in savings costed them thousands. Your goal should be to get the best coverage possible at an affordable rate while not skimping on critical coverages.
We covered some good ideas how you can reduce Ford C-Max Hybrid insurance car insurance rates online in Colorado Springs. The most important thing to understand is the more companies you get premium rates for, the higher the chance of saving money. You may even be surprised to find that the biggest savings come from a company that doesn’t do a lot of advertising. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm, GEICO and Nationwide.
- Insuring a Leased Car (Insurance Information Institute)
- Who Has Cheap Colorado Springs Auto Insurance for Real Estate Agents? (FAQ)
- Bodily Injury Coverage (Liberty Mutual)
- Distracted Driving Extends Beyond Texting (State Farm)