Car Insurance Rates for a Dodge Ram 3500 in Colorado Springs

The most effective way to find low-cost Dodge Ram 3500 insurance is to start doing an annual price comparison from providers who sell auto insurance in Colorado Springs.

• Step 1: Read and learn about policy coverages and the measures you can take to prevent expensive coverage. Many rating factors that result in higher prices such as speeding tickets, accidents and poor credit history can be eliminated by making minor driving habit or lifestyle changes.
• Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like GEICO or Allstate, while agents who are independent can give you price quotes from multiple sources. Find a Colorado Springs insurance agent
• Step 3: Compare the new rate quotes to your current policy premium and see if you can save money. If you find a lower rate quote and make a switch, make sure coverage does not lapse between policies.

One thing to remember is that you’ll want to compare the same liability limits and deductibles on each quote request and and to get price estimates from all possible companies. This ensures an accurate price comparison and a complete price analysis.

Astonishing but true, about 70% of customers kept their coverage with the same insurance company for over three years, and just under half have never compared insurance rates at all. Consumers in Colorado Springs could save an average of $600 each year, but most undervalue the amount of money they would save if they changed companies.

Locating the best rates in Colorado Springs can initially seem challenging. Essentially everyone who is looking for cheaper insurance will more than likely find a cheaper policy. Nevertheless, Colorado consumers need to have an understanding of how big insurance companies set your policy premium and use it to find better rates.

Just remember that making a lot of price comparisons will improve the odds of getting the best rates.

The companies shown below can provide free quotes in Colorado Springs, CO. If you want cheap car insurance in Colorado Springs, it’s highly recommended you visit two to three different companies to get a more complete price comparison.

Insurance discounts are available to get cheap rates

The cost of insuring your cars can be expensive, but you might find some hidden discounts that can dramatically reduce your bill. Some discounts will apply when you get a quote, but some must be manually applied in order for you to get them. If you check and find you aren’t receiving every discount available, you may be paying too high a price.

• Own a Home and Save – Owning your own home or condo can get you a discount because owning a home requires personal responsibility.
• Payment Discounts – By paying your entire bill at once rather than paying monthly you may have a lower total premium amount.
• Good Student – Getting good grades can earn a discount of 20% or more. Many companies even apply the discount to college students well after school through age 25.
• Onboard Data Collection – Policyholders that allow their insurance company to spy on vehicle usage by using a telematics device in their vehicle like Drivewise from Allstate or In-Drive from State Farm may see discounts if they exhibit good driving behavior.
• Military Discounts – Having a deployed family member can result in better insurance rates.
• Discount for Swiching Early – A few insurance companies give discounts for switching to them early. It can save you around 10%.
• Include Life Insurance and Save – If the company offers life insurance, you could get a discount if you purchase life insurance.
• Theft Deterrent Discount – Vehicles equipped with tracking devices and advanced anti-theft systems are less likely to be stolen so companies will give you a small discount.

Discounts lower rates, but most of the big mark downs will not be given to the entire policy premium. Most only cut the cost of specific coverages such as medical payments or collision. So even though they make it sound like you can get free auto insurance, you won’t be that lucky.

The information below illustrates the comparison of Dodge Ram 3500 insurance costs with and without discounts. The premiums are based on a male driver, no violations or accidents, Colorado state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, multi-policy, marriage, and claim-free discounts applied.

To see a list of insurance companies with the best discounts in Colorado Springs, follow this link.

Detailed insurance information

The rate information below highlights detailed analysis of insurance costs for Dodge Ram 3500 models. Having a better understanding of how rate quotes are figured is important for making decisions on the best policy coverages.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price information does not factor in vehicle garaging location which can affect coverage rates significantly.

Comparison of policy deductibles

When comparing auto insurance rates, the most common question is how high or low should comp and collision deductibles be. The comparison tables below lay out the rate differences when you choose different deductibles. The first price estimate table uses a $250 deductible for physical damage and the second set of prices uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Estimates do not factor in Colorado Springs location which can increase or decrease premium rates substantially.

We can derive from the above data that using a $250 deductible could cost the average driver approximately $33 more each month or $396 for a full year than opting for the higher $1,000 deductible. Because you would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average more than 23 months between claims, you would save money by selecting a higher deductible. Below is a better example of how you can do this calculation yourself.

Cost of full coverage in Colorado Springs

The diagram below shows the difference between Dodge Ram 3500 auto insurance rates with and without full coverage. The data is based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no other discounts are factored in.

Should you buy full coverage or liability only?

There is no exact rule of when to phase out comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let’s assume your Dodge Ram 3500 replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after paying your policy deductible. If you are paying more than $400 a year for comprehensive and collision coverage, then you might consider buying liability only.

There are some conditions where eliminating full coverage is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.

What Determines Dodge Ram 3500 Insurance Premiums?

A large part of saving on insurance is knowing some of the factors that come into play when calculating the rates you pay for insurance. If you know what determines premiums, this allows you to make educated decisions that will entitle you to much lower annual insurance costs. Many things are considered when you quote your car insurance policy. Most are fairly basic such as your driving history, but some are less obvious like your vehicle usage or your financial responsibility.

Costs increase with policy add-ons – Insurance companies have many extra bells and whistles that you can get tricked into buying but may not be useful. Coverage for things like vanishing deductibles, high-cost glass coverage, and membership fees are some examples. They may sound like good ideas when discussing your needs, but your needs may have changed so consider taking them off your policy.

Low coverage deductibles cost more – Your deductibles are the amount of money you are required to spend before your insurance pays a claim. Protection for physical damage, also called ‘full coverage’, is used to repair damage to your car. Some instances where coverage would apply are rear-ending another vehicle, hail damage, and damage from wind. The more expense you have to pay, the better rate you will receive.

Commute or pleasure use – Driving a lot of miles in a year’s time the higher your rates will be. The majority of insurers calculate rates based upon how much you drive. Cars and trucks that have low annual miles receive lower rates than cars that get driven a lot. Having the wrong rating on your Ram 3500 is throwing money out the window. It’s always a good idea to double check that your insurance policy reflects annual mileage, because improper ratings can cost you money.

Discounts for married couples – Being married may save some money on your policy. Having a spouse demonstrates that you tend to be more stable financially it has been statistically shown that married drivers get in fewer accidents.

Low credit rating equals high premiums – Having a bad credit score is a large factor in determining what you pay. Therefore, if your credit score leaves room for improvement, you could be paying less to insure your Dodge Ram 3500 by improving your rating. Drivers who have excellent credit scores tend to be more responsible and file fewer claims than drivers with lower credit ratings.

Know your vehicle’s safety rating – Vehicles with good safety scores can get you lower premiums. Safe vehicles reduce the chance of injuries and lower rates of occupant injuries translates into savings for insurance companies which can mean better rates for you.

You might want pay the small insurance claims yourself – Car insurance companies in Colorado provide most affordable rates to people who only file infrequent claims. If you frequently file small claims, you can definitely plan on either policy cancellation or increased premiums. Your insurance policy is designed for major claims that would cause financial hardship.

Never let your policy lapse – Driving your car without having proper coverage is against the law and any future policy may cost more because you let your coverage cancel without a new policy in place. Not only will you pay more, the inability to provide proof of insurance could earn you fines or a revoked license. You could then be forced to prove you have insurance by filing a SR-22 with the Colorado motor vehicle department.