Cheap Rate Quotes for Toyota Yaris Insurance in Colorado Springs

A recent NerdWallet.com study revealed that nearly 70% of consumers kept buying from the same company for four years or more, and almost half have never taken the time to shop around. Many consumers in Colorado can cut their rates by about $610 a year, but they just don’t want to shop their coverage around.

To save the most money, the best way to get the cheapest Toyota Yaris insurance in Colorado Springs is to compare prices at least once a year from insurance carriers that insure vehicles in Colorado.

1. Gain an understanding of what is in your policy and the factors you can control to prevent rate increases. Many rating factors that increase rates such as careless driving and a less-than-favorable credit history can be controlled by making lifestyle changes or driving safer. Continue reading for additional ideas to prevent high prices and find discounts that you may qualify for.
2. Compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive or Farmers Insurance, while independent agents can quote prices from many different companies.
3. Compare the price quotes to your existing coverage to see if a cheaper rate is available in Colorado Springs. If you find better rates and decide to switch, make sure coverage does not lapse between policies.

The key thing to know about shopping around is to use the same amount of coverage on every quote and and to get price quotes from as many different insurance providers as possible. Doing this provides an apples-to-apples comparison and and a good selection of different prices.

If you are paying for car insurance now, you will definitely be able to find the best rates using the techniques covered below. This information will help educate you on how car insurance works and how to save the most money. But Colorado vehicle owners do need to know the way insurance companies determine prices because rates fluctuate considerably.

Auto insurance statistics and figures

The information displayed next showcases different insurance costs for Toyota Yaris models. Knowing how premiums are determined can be useful when making decisions on the best policy coverages.

Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Prices do not factor in specific zip code location which can alter premium rates greatly.

Policy deductible comparison

When shopping for auto insurance, a common question is where to set your physical damage deductibles. The tables below summarize the price difference when you buy lower versus higher physical damage coverage deductibles. The first table uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Information does not factor in Colorado Springs location which can modify coverage rates substantially.

Based on this data, we can arrive at the conclusion that using a $100 deductible costs about $23 more each month or $276 every year than quoting the higher $500 deductible. Since the policyholder would be required to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you go more than 17 months between claims, you would more than likely save some money by selecting a higher deductible. The numbers below show an example of how this calculation is made.

Full coverage rates vs. liability-only in Colorado Springs

The information below shows the comparison of Toyota Yaris car insurance costs with full coverage compared to only the Colorado minimum liability coverage. The rates are based on a clean driving record, no claims, $250 deductibles, drivers are not married, and no other discounts are factored in.

Deciding between full coverage and liability only

There is no definitive rule to stop paying for physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your Toyota Yaris claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your deductible. If you are currently paying more than $200 annually for your policy with full coverage, then it could be time to drop full coverage.

There are some scenarios where removing full coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Smart Consumers Know How to Buy Car Insurance More Affordably

Consumers need to have an understanding of some of the things that play a part in calculating your car insurance rates. When you know what positively or negatively determines premiums, this allows you to make educated decisions that may result in better car insurance rates. Many things are part of the equation when you get a price on insurance. Most are fairly basic like a motor vehicle report, but some are not as apparent like where you live and annual miles driven.

• Better car insurance rates on cars with good safety ratings – Vehicles with high crash test scores cost less to insure. Safe vehicles reduce injuries and better occupant protection translates into fewer and smaller insurance claims passed on to you as lower rates. If your Toyota Yaris is rated at a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may pay a lower rate.
• Low stress occupation equals lower premiums – Did you know your occupation can influence how much you pay for car insurance? Careers such as judges, airline pilots, and financial analysts tend to have higher rates than the rest of us attributed to high stress levels and extremely grueling work hours. On the flip side, careers such as farmers, engineers and retirees receive lower rates.
• Get married and get better rates – Having a wife or husband may earn you lower rates on your car insurance policy. It demonstrates that you tend to be more responsible and insurance companies like that drivers who are married file infrequent claims.
• Save by driving less – The more you drive your Toyota in a year the higher your rate. A lot of insurance companies rate vehicles based upon how you use the vehicle. Cars and trucks that do not get driven very much receive lower rates than those that get driven frequently. It’s a good idea to make sure your car insurance declarations sheet properly reflects the correct usage. Having an incorrect usage rating on your Yaris may be wasting your money.

• Responsible drivers pay lower costs – Careful drivers receive lower rates than people who have multiple driving citations. Just one driving citation can bump up the cost substantially. Drivers who have gotten serious citations like DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 or proof of financial responsibility with their state’s licensing department in order to legally drive a vehicle.

  The diagram below demonstrates how citations and fender-benders can drive up Toyota Yaris insurance prices for different ages of insureds. The rate quotes are based on a married male driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.

• Females pay lower premiums – Statistics have proven that females take fewer risks when driving. This data doesn’t prove that women are BETTER drivers than men. Women and men cause fender benders in similar percentages, but the males tend to have higher claims. Men also have more aggressive citations such as DWI and reckless driving. Young males cause the most accidents and are penalized with high car insurance rates.

  The information below illustrates the difference between Toyota Yaris annual premium costs for male and female drivers. The information is based on no violations or claims, full physical damage coverage, $250 deductibles, single status, and no discounts are taken into consideration.

• Age of drivers – More experienced drivers are viewed as being more responsible, are lower risk to insure, and receive fewer citations. Teen drivers are statistically proven to be less responsible behind the wheel therefore car insurance rates are much higher.

  The data below uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

• Rental and towing coverage may not be needed – Insurance policies have a lot of extra bells and whistles you can purchase on your Yaris policy. Insurance for things like personal injury protection, high-cost glass coverage, and Farm Bureau memberships are some examples. You may think they are a good idea at first, but if you’ve never needed them in the past think about removing them and cutting costs.

• Toyota Yaris statistical loss data – Insurers factor in historical loss data to help calculate premium rates. Models that tend to have a trend towards higher claims will have higher rates for specific coverages. The data below shows the insurance loss data for Toyota Yaris vehicles.

  For each type of coverage, the claim probability for all vehicles, regardless of manufacturer or model, is equal to 100. Numbers that are below 100 indicate a favorable loss history, while values over 100 indicate more frequent losses or an increased probability of a larger loss.

  
  

  Toyota Yaris Insurance Loss Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Toyota Yaris	94	88	92

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Be persistent to save money

We just showed you a lot of tips how to lower your Toyota Yaris insurance rates in Colorado Springs. The key concept to understand is the more times you quote, the higher your chance of finding the cheapest Toyota Yaris rate quotes. You may even discover the best price on car insurance is with a smaller regional carrier. Regional companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate or State Farm.

Some insurance companies may not provide rates over the internet and many times these small insurance companies work with local independent agents. Cheaper Toyota Yaris insurance in Colorado Springs is available on the web in addition to many Colorado Springs insurance agents, and you need to comparison shop both in order to have the best price selection to choose from.

Additional information is available below:

• Comprehensive Coverage (Liberty Mutual)
• Who Has Cheap Colorado Springs Auto Insurance Rates for Infrequent Drivers? (FAQ)
• Who Has Affordable Auto Insurance for Retired Military in Colorado Springs? (FAQ)
• Who Has Affordable Colorado Springs Car Insurance Rates for Good Drivers? (FAQ)
• How Much is Auto Insurance for a Dodge Grand Caravan in Colorado Springs? (FAQ)
• What Auto Insurance is Cheapest for a Dodge Ram in Colorado Springs? (FAQ)
• Neck Injury FAQ (iihs.org)
• Air Bags: Potential Dangers to Your Children (Insurance Information Institute)