The best way to get the cheapest Volvo V40 insurance is to compare prices once a year from providers that sell auto insurance in Colorado Springs. You can compare rates by following these steps.
- Step 1: Get a basic knowledge of the coverage provided by your policy and the measures you can take to keep rates down. Many risk factors that are responsible for high rates like traffic citations, accidents, and bad credit can be eliminated by making small lifestyle or driving habit changes.
- Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from one company like Progressive or Allstate, while independent agencies can give you price quotes from multiple sources. Find a Colorado Springs insurance agent
- Step 3: Compare the price quotes to your existing coverage and see if you can save money. If you can save some money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Step 4: Provide notification to your current company of your intention to cancel your existing policy. Submit payment and a completed application to the new company. As soon as you can, store the certificate of insurance somewhere easily accessible.
One important bit of advice is that you'll want to make sure you compare the same level of coverage on each price quote and and to look at every company you can. Doing this provides the most accurate price comparison and plenty of rates choose from.
We don't have to point out that fact that auto insurance companies want to prevent you from shopping around. Consumers who shop around for better prices will presumably switch car insurance companies because there is a great chance of finding more affordable rates. A recent survey found that drivers who made a habit of comparing rate quotes saved $865 a year as compared to drivers who never shopped for cheaper rates.
If finding the cheapest rates on Volvo V40 insurance in Colorado Springs is the reason you're here, then having a good understanding how to choose a company and compare car insurance can help simplify the task of finding more affordable coverage.
Choosing the best rates in Colorado Springs can be made easier if you know where to look. In essence, everyone who carries car insurance most likely will be able to find better rates. But Colorado consumers benefit from understanding the way companies sell insurance online and use this information to your advantage.
Just keep in mind that quoting more will improve the odds of getting the best rates.
The companies shown below have been selected to offer free rate quotes in Colorado. In order to find the best cheap car insurance in Colorado, it's a good idea that you visit two to three different companies to get the lowest price.
Car insurance is not optional in Colorado
Despite the high insurance cost for a Volvo V40 in Colorado Springs, maintaining insurance is required by state law in Colorado and it also provides benefits you may not be aware of.
First, the majority of states have mandatory insurance requirements which means you are required to carry specific minimum amounts of liability in order to drive the car 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.
Second, if you took out a loan on your vehicle, most lenders will make it mandatory that you buy full coverage to guarantee payment of the loan. If you do not pay your insurance premiums, the lender may insure your Volvo at an extremely high rate and require you to fork over a much higher amount than you were paying before.
Third, insurance protects not only your Volvo but also your assets. It will also pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance will also pay attorney fees if you cause an accident and are sued. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your V40 are definitely more than the cost, particularly when you have a large claim. As of last year, the average driver in Colorado is currently overpaying as much as $869 every year so we recommend shopping around each time the policy renews to save money.
Do you qualify for these six discounts?
Car insurance can cost a lot, but companies offer discounts that can help lower your rates. Certain discounts will be applied when you quote, but some must be asked for prior to receiving the credit.
- Defensive Driving Course - Taking part in a driver safety course could possibly earn you a 5% discount and easily recoup the cost of the course.
- Drive Safe and Save - Insureds who avoid accidents could pay up to 40% less than drivers with accidents.
- 55 and Retired - If you're over the age of 55, you can possibly qualify for a discount up to 10%.
- Discount for Low Mileage - Keeping the miles down on your Volvo may allow you to get discounted rates on garaged vehicles.
- Passive Restraint Discount - Factory air bags and/or automatic seat belt systems can qualify for discounts of more than 20%.
- Accident Forgiveness Coverage - This isn't a discount exactly, but some companies like Liberty Mutual and GEICO permit an accident without the usual rate increase if you are claim-free for a certain period of time.
As is typical with insurance, many deductions do not apply to your bottom line cost. The majority will only reduce individual premiums such as comp or med pay. Despite the fact that it seems like all those discounts means the company will pay you, nobody gets a free ride.
Popular insurance companies and a summarized list of policyholder discounts can be found below.
- Esurance includes discounts for paid-in-full, Pac-12 alumni, claim free, good student, multi-policy, and good driver.
- The Hartford offers premium reductions for driver training, bundle, anti-theft, vehicle fuel type, and air bag.
- AAA offers discounts for anti-theft, multi-policy, good driver, AAA membership discount, pay-in-full, and education and occupation.
- GEICO may have discounts that include driver training, membership and employees, anti-theft, defensive driver, good student, and seat belt use.
- State Farm may include discounts for driver's education, accident-free, anti-theft, multiple autos, good student, and passive restraint.
When getting free Colorado Springs car insurance quotes, it's a good idea to each company or agent to give you their best rates. Some credits may not apply to policyholders in Colorado Springs.
Auto insurance quotes from local Colorado Springs insurance agents
A small number of people just want to buy from a licensed agent and that is just fine! The biggest benefit of price shopping on the web is that drivers can save money and get cheap auto insurance quotes and still have an agent to talk to.
After completing this quick form, your insurance coverage information is submitted to local insurance agents that provide free Colorado Springs car insurance quotes for your business. It simplifies rate comparisons since you won't have to leave your house since rate quotes are delivered directly to your email. You can find lower rates without the usual hassles of price shopping. If you wish to get a comparison quote from a specific auto insurance provider, just jump over to their website to submit a rate quote request.
Picking the best insurer should include more criteria than just a cheap price quote. You should also get answers to these questions.
- Where are claims handled?
- How often do they review policy coverages?
- Does their agency support local causes in Colorado Springs?
- How does the company pay claims for a total loss?
- Will a damage claim use OEM or aftermarket replacement parts?
- What insurance company do they write the most business with?
- Are they able to provide referrals?
- Does the agency provide any after hours assistance?
If you need to find a local Colorado Springs insurance agent, it's important to understand the types of agencies and how they are distinctly different. Auto insurance agents can either be independent (non-exclusive) or exclusive.
Agents that elect to be exclusive can only write with one company like Farmers Insurance, State Farm, or Allstate. They are unable to compare rates from other companies so they are skilled at selling on more than just price. Exclusive agents are usually quite knowledgeable in insurance sales and that can be a competitive advantage.
Shown below are Colorado Springs exclusive insurance agencies who can help you get price quote information.
Independent Insurance Agents
Agents that elect to be independent are normally appointed by many insurers and that enables them to quote your coverage with many different companies and get you the best rates possible. If your premiums go up, an independent agent can move your coverage and you can keep the same agent. When comparing rate quotes, it's recommended you contact a few independent agents to ensure the widest selection of prices.
The following are independent insurance agents in Colorado Springs that are able to give price quote information.
If you receive acceptable answers to your questions as well as low cost Volvo V40 insurance quotes, you may have just found an insurance agency that meets your needs to properly service your auto insurance policy. Just remember consumers can cancel coverage any time you want so never assume that you are obligated to a specific agent with no way to switch.
Don't assume everyone needs the same car insurance coverage
When selecting a policy, there is no "best" method to buy coverage. Your needs are not the same as everyone else's so this has to be addressed. For example, these questions could help you determine whether your personal situation could use an agent's help.
- Is my Volvo V40 covered for flood damage?
- Is motorclub coverage worth it?
- Is my Volvo V40 covered if I use it for business?
- How much liability insurance is required?
- Am I covered when pulling a rental trailer?
- Do I have coverage when making deliveries for my home business?
- When should I not file a claim?
- Do I need to file an SR-22 for a DUI in Colorado?
- Is my ex-spouse still covered by my policy?
If it's difficult to answer those questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area.
Car insurance coverage specifics
Knowing the specifics of car insurance can be of help when determining the best coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Below you'll find the usual coverages found on most car insurance policies.
Collision insurance will pay to fix damage to your V40 resulting from a collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision insurance covers claims such as hitting a parking meter, sustaining damage from a pot hole, backing into a parked car and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. You can also increase the deductible on your V40 to bring the cost down.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP provide coverage for expenses for things like dental work, pain medications and nursing services. They are often utilized in addition to your health insurance program or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Liability car insurance
This coverage will cover damage that occurs to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/15 that translate to a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $15,000 paid for damaged property.
Liability coverage pays for claims such as repair bills for other people's vehicles, funeral expenses, attorney fees and court costs. How much coverage you buy is your choice, but it's cheap coverage so purchase as large an amount as possible. Colorado state law requires minimum liability limits of 25/50/15 but it's recommended drivers buy better liability coverage.
The chart below demonstrates why buying low liability limits may not be adequate coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for medical payments for you and your occupants as well as damage to your Volvo V40.
Because many people only carry the minimum required liability limits (25/50/15), it doesn't take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.
Comprehensive auto coverage
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims like a broken windshield, vandalism, damage from getting keyed, falling objects and rock chips in glass. The highest amount your car insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much it's not worth carrying full coverage.
Shop around and save
Throughout this article, we presented many ways to save on Volvo V40 insurance in Colorado Springs. The key thing to remember is the more price quotes you have, the better your comparison will be. You may even find the biggest savings come from some of the smallest insurance companies. They can often insure niche markets at a lower cost than the large multi-state companies such as GEICO and State Farm.
Cost effective Volvo V40 insurance is possible on the web in addition to many Colorado Springs insurance agents, and you need to price shop both to get a complete price analysis. Some auto insurance companies may not provide online rate quotes and these regional insurance providers work with independent insurance agencies.
More detailed auto insurance information can be found in these articles:
- Insuring a Leased Car (Insurance Information Institute)
- Who Has the Cheapest Car Insurance for Drivers Requiring a SR22 in Colorado Springs? (FAQ)
- How Much are Car Insurance Rates for a Toyota Highlander in Colorado Springs? (FAQ)
- How Much are Car Insurance Quotes for a Subaru Outback in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance for 17 Year Olds? (FAQ)
- What Insurance is Cheapest for a Nissan Rogue in Colorado Springs? (FAQ)
- Who Has Cheap Colorado Springs Car Insurance for a 20 Year Old Female? (FAQ)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Bodily Injury Coverage (Liberty Mutual)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Information for Teen Drivers (GEICO)