The preferred way to quote cheaper car insurance rates in Colorado Springs is to make a habit of regularly comparing prices from insurance carriers in Colorado. You can compare rates by following these steps.
First, spend some time learning about how car insurance works and the measures you can take to prevent expensive coverage. Many rating criteria that are responsible for high rates such as tickets, at-fault accidents, and a substandard credit score can be eliminated by improving your driving habits or financial responsibility. This article provides more information to help prevent expensive coverage and get discounts that may be available to you.
Second, request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like Progressive or Allstate, while independent agencies can provide price quotes from multiple companies.
Third, compare the new rates to the price on your current policy to see if switching to a new carrier will save money. If you can save some money and make a switch, make sure there is no coverage gap between policies.
The key thing to remember is to make sure you enter identical deductibles and limits on every quote request and and to get price quotes from as many car insurance companies as possible. This guarantees a level playing field and the most accurate and complete price analysis.
It’s hard to believe, but almost 70% of insureds have bought car insurance from the same company for a minimum of four years, and nearly the majority have never quoted car insurance rates at all. Most drivers in Colorado could save about 35% each year just by getting comparison quotes, but they don’t know the actual amount they would save if they replace their high priced policy.
The goal of this article is to help you learn the best way to quote coverages. If you currently have car insurance, you should be able to find better prices using the concepts you’re about to learn. Consumers just need to learn the most effective way to compare rates from many different companies online.
Insurance coverage analysis
The rate table displayed below highlights detailed analysis of insurance prices for Ford Escape models. Having knowledge of how insurance quotes are figured can be useful when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escape XLS 2WD||$184||$320||$286||$16||$86||$892||$74|
|Escape XLS 4WD||$184||$320||$286||$16||$86||$892||$74|
|Escape XLT 2WD||$184||$320||$286||$16||$86||$892||$74|
|Escape Limited 2WD||$212||$320||$286||$16||$86||$920||$77|
|Escape XLT 4WD||$212||$320||$286||$16||$86||$920||$77|
|Escape Limited 4WD||$212||$388||$286||$16||$86||$988||$82|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Rate information does not factor in garaging location in Colorado Springs which can change premiums substantially.
The information below shows how different deductible levels and can affect Ford Escape premium costs for each age group. The prices are based on a married male driver, full physical damage coverage, and no discounts are taken into consideration.
How accidents and tickets impact rates in Colorado Springs
The example below demonstrates how citations and fender-benders drive up Ford Escape insurance prices for different age groups. The rate quotes are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Ford Escape liability rates compared to full coverage
The information below compares Ford Escape yearly insurance costs when comparing full coverage to liability only. The rates are based on no violations or claims, $250 deductibles, single status, and no discounts are factored in.
When to eliminate full coverage
There is no clear-cut formula of when to eliminate full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let’s assume your Ford Escape replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $2,000 after you pay the deductible. If it’s costing you more than $200 annually for physical damage coverage, then it might be time to buy liability only.
There are some situations where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not drop full coverage.
Colorado auto insurance companies ranked
Choosing the top car insurance company can be challenging considering how many companies provide coverage in Colorado Springs. The ranking information below may help you analyze which companies you want to consider shopping your coverage with.
Top 10 Colorado Springs Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- Mercury Insurance
- AAA Insurance
- State Farm
Top 10 Colorado Springs Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- Nationwide – 90%
- The Hartford – 89%
- GEICO – 89%
- The General – 88%
- 21st Century – 88%
- Liberty Mutual – 88%
Detailed coverages of your insurance policy
Understanding the coverages of insurance can help you determine the best coverages for your vehicles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. These are typical coverage types found on most insurance policies.
Comprehensive auto coverage – Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims like rock chips in glass, hail damage, theft and fire damage. The maximum payout your insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Collision – Collision coverage pays for damage to your Escape resulting from a collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision coverage protects against things like backing into a parked car, crashing into a ditch and sideswiping another vehicle. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. You can also bump up the deductible on your Escape in order to get cheaper collision rates.
Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance pay for bills such as doctor visits, funeral costs and pain medications. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage
Liability insurance – Liability coverage provides protection from damage that occurs to a person or their property that is your fault. It protects YOU against other people’s claims. It does not cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/15 which stand for $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a total limit of $15,000 for damage to vehicles and property. Another option is a combined limit which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage pays for claims like repair bills for other people’s vehicles, loss of income, emergency aid, legal defense fees and court costs. How much coverage you buy is up to you, but you should buy as much as you can afford. Colorado requires drivers to carry at least 25/50/15 but you should consider buying more coverage.
The chart below shows why buying minimum limits may not be adequate.
UM/UIM (Uninsured/Underinsured Motorist) coverage – Uninsured or Underinsured Motorist coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.
Since many Colorado drivers only carry the minimum required liability limits (Colorado limits are 25/50/15), their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages are set the same as your liability limits.
More effort can pay off
While you’re price shopping online, do not reduce coverage to reduce premium. There have been many cases where someone dropped physical damage coverage and found out when filing a claim that the small savings ended up costing them much more. The ultimate goal is to buy the best coverage you can find at a price you can afford but still have enough coverage for asset protection.
Cheaper Ford Escape insurance in Colorado Springs can be bought both online as well as from independent agents in Colorado Springs, and you should compare rates from both in order to have the best price selection to choose from. A few companies may not offer internet price quotes and usually these regional carriers work with independent agents.
We’ve covered a lot of information how to save on Ford Escape insurance in Colorado Springs. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. Consumers may even find the best price on auto insurance is with an unexpected company. These smaller insurers may often insure only within specific states and give better rates than their larger competitors like Allstate and Progressive.
Additional detailed information can be read in the articles below:
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- 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 Affordable Colorado Springs Auto Insurance Quotes for a Honda Civic? (FAQ)
- How Much is Auto Insurance for Teenagers in Colorado Springs? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers Over Age 60 in Colorado Springs? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for 19 Year Olds in Colorado Springs? (FAQ)
- What Car Insurance is Cheapest for Low Mileage Drivers in Colorado Springs? (FAQ)
- Safety Belts FAQ (iihs.org)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Auto Crash Statistics (Insurance Information Institute)