If saving the most money is your goal, then the best way to get the cheapest auto insurance rates is to compare prices once a year from insurance carriers who sell auto insurance in Colorado Springs.
- First, take a few minutes and learn about how companies set rates and the measures you can take to prevent rate increases. Many risk factors that cause rate increases like at-fault accidents and a bad credit rating can be eliminated by making minor changes in your lifestyle.
- Second, request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only quote rates from one company like GEICO and State Farm, while independent agencies can quote rates from multiple sources.
- Third, compare the new quotes to the premium of your current policy to see if a cheaper rate is available. If you can save money and change companies, ensure coverage does not lapse between policies.
- Fourth, provide written notification to your current company to cancel your current auto insurance policy. Submit payment and a completed application to the new company. Make sure you put the new proof of insurance certificate with your registration paperwork.
An essential thing to point out is to try to compare the same level of coverage on every quote request and and to look at as many auto insurance providers as possible. This ensures an accurate price comparison and and a good selection of different prices.
It’s an obvious conclusion that insurance companies don’t want their customers to go rate shopping. People who compare rates annually are very likely to buy a different policy because there are good odds of finding a more affordable policy. A recent survey discovered that consumers who shopped around annually saved an average of $72 a month as compared to drivers who never shopped for cheaper rates.
If finding the lowest price on BMW M3 insurance in Colorado Springs is your ultimate target, knowing how to choose a company and compare insurance rates can save time, money, and frustration.
Choosing the best insurance company for you in Colorado Springs can really be easy if you know what you’re doing. If you have coverage now, you will definitely be able to cut your premiums using this information. Nevertheless, Colorado car owners must know the way insurance companies calculate your policy premium.
Car insurance providers offering low-cost rate quotes in Colorado
The companies shown below can provide price quotes in Colorado. If your goal is to find cheap car insurance in Colorado Springs, we recommend you click on several of them in order to find the most affordable rates.
Rates and information analytics
The rate information displayed next outlines different insurance premium costs for BMW M3 models. Being more informed about how policy premiums are established can benefit drivers when making smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $324 | $724 | $396 | $24 | $118 | $1,586 | $132 |
| M3 CI 2-Dr Coupe | $354 | $806 | $396 | $24 | $118 | $1,698 | $142 |
| M3 2-Dr Convertible | $354 | $806 | $396 | $24 | $118 | $1,698 | $142 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Premium amounts do not factor in specific zip code location which can influence premium rates considerably.
Raise deductibles and save
One of the more difficult decisions when buying car insurance is how low should you set your deductibles. The comparisons below may aid in understanding the differences in price when you choose different deductibles. The first rate quote example uses a $100 physical damage deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $420 | $838 | $352 | $20 | $106 | $1,761 | $147 |
| M3 CI 2-Dr Coupe | $458 | $936 | $352 | $20 | $106 | $1,897 | $158 |
| M3 2-Dr Convertible | $458 | $936 | $352 | $20 | $106 | $1,897 | $158 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $232 | $442 | $352 | $20 | $106 | $1,152 | $96 |
| M3 CI 2-Dr Coupe | $254 | $492 | $352 | $20 | $106 | $1,224 | $102 |
| M3 2-Dr Convertible | $254 | $492 | $352 | $20 | $106 | $1,224 | $102 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Rate information does not factor in zip code location which can revise price quotes noticeably.
Using the premium rates above, we can conclude that using a $100 deductible could cost the average driver approximately $54 more each month or $648 each year averaged for all M3 models than selecting the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 17 months between claim filings, you would more than likely save some money if you choose the higher deductible.
The example below illustrates how your deductible choice and can increase or decrease BMW M3 insurance prices for different age groups of insureds. The premiums assume a married male driver, full physical damage coverage, and no additional discounts are factored in.
Discounts for affordable car insurance quotes
Not many people think insurance is cheap, but you may be missing some discounts that can drop the cost substantially. Certain discounts will be applied at the time you complete a quote, but a few must be manually applied before you will receive the discount. If you don’t get every credit available, you are paying more than you should be.
- Accident-Free Discounts – Claim-free drivers get the best car insurance rates when compared with accident-prone drivers.
- Passive Restraints and Air Bags – Cars that have air bags or automatic seat belts can qualify for discounts of 25 to 30%.
- Club Memberships – Participating in specific professional or occupational memberships or organizations could trigger savings on your next renewal.
- Senior Citizen Rates – Drivers that qualify as senior citizens can get better car insurance rates.
- Early Renewal Discounts – Some larger companies give discounts for renewing your policy prior to the expiration date on your current M3 insurance policy. It’s a savings of about 10%.
- Homeowners Savings – Owning your own home or condo may trigger a policy discount on car insurance because owning a home is proof of financial responsibility.
- Discounts for Good Drivers – Accident-free drivers can save up to 40% or more on their Colorado Springs car insurance quote as compared to drivers with claims.
- Save with a New Car – Buying car insurance coverage on a new vehicle can get you a discount since new model year vehicles are generally safer.
- Data Collection Discounts – Policyholders that allow companies to analyze driving habits by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease if they exhibit good driving behavior.
It’s important to understand that most discount credits are not given to all coverage premiums. Some only apply to the cost of specific coverages such as liability, collision or medical payments. Even though it appears all those discounts means the company will pay you, nobody gets a free ride.
The illustration below shows the difference between BMW M3 auto insurance rates with and without discounts being applied to the rates. Data assumes a male driver, no claims or driving violations, Colorado state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, multi-policy, claim-free, marriage, and safe-driver discounts applied.
A few companies that may have many of the previously listed discounts possibly include:
It’s a good idea to ask every company how you can save money. Some discounts listed above might not be offered on policies in your state.
Which is the best insurance?
When it comes to buying your policy for your vehicles, there is no one-size-fits-all type of policy. Coverage needs to be tailored to your specific needs so your insurance should reflect that Here are some questions about coverages that can help discover whether you might need professional guidance.
- Am I insured when driving a different vehicle?
- How long can I keep a teen driver on my policy?
- Do I need to call my car insurance company before buying a new car?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Should I file a claim if it’s only slightly more than my deductible?
- Is my custom paint covered by insurance?
- Can I rent a car in Mexico?
- Who is covered by my policy?
- Is my state a no-fault state?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier
Insurance agents can give valuable advice
A small number of people just want to have an agent’s advice and that can be a smart move One of the best bonuses of comparing insurance prices online is that you can find cheap insurance rates but still work with a licensed agent.
To help locate an agent, after submitting this quick form, your coverage information is instantly submitted to local insurance agents in Colorado Springs that give free quotes for your coverage. There is no reason to search for an agent because prices are sent to the email address you provide. You can find better rates without a big time investment. If you wish to get a comparison quote from a specific company, feel free to visit that company’s website and fill out the quote form the provide.
Choosing the best company should depend on more than just the bottom line cost. The answers to these questions are important, too.
- What are the financial ratings for the companies they represent?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Will the company cover a rental car if your car is getting fixed?
- What discounts might you be missing?
- How many years have they been established?
- Will they make sure you get an adequate claim settlement?
- If you are a high risk driver, do they have special markets for your coverage?
- Is the agent CPCU or CIC certified?
If you want to use a good Colorado Springs insurance agent, it’s helpful to know the types of agencies that you can select. Insurance agents in Colorado Springs can be classified as either independent or exclusive.
Exclusive Insurance Agents
These agents are contracted to one company and examples are State Farm, AAA, and Liberty Mutual. These agents are unable to provide rate quotes from other companies so they have no alternatives for high prices. Exclusive agencies are well schooled on the products they sell which helps offset the inability to provide other markets. Consumers sometimes purchase coverage from exclusives mostly because of the prominent brand name and the convenience of having a single billing for all their coverages.
Listed below are Colorado Springs exclusive agents that can give you price quote information.
- Brandon Kolk – State Farm Insurance Agent
12229 Voyager Pkwy Ste 100 – Colorado Springs, CO 80921 – (719) 599-3600 – View Map - Roberto Martinez – State Farm Insurance Agent
1216 Academy Blvd N – Colorado Springs, CO 80909 – (719) 574-0210 – View Map - John Hall – State Farm Insurance Agent
1614 Academy Blvd N b – Colorado Springs, CO 80909 – (719) 596-1414 – View Map
Independent Insurance Agents
Agents that choose to be independent are not limited to a single company so they can quote policies with an assortment of companies and help determine which has the cheapest rates. If they find a cheaper price, the agent simply finds a different carrier and you don’t have to find a new agent.
When comparing insurance rates, we highly recommend that you contact at a minimum one independent agency to get the most accurate price comparison. Many independent agencies also insure through small mutual carriers which may provide better rates.
Shown below is a list of independent insurance agents in Colorado Springs that can give you price quotes.
- Nationwide Insurance: Jeffrey Lloyd Sudermann Agency
6455 N Union Blvd #104 – Colorado Springs, CO 80918 – (303) 974-7676 – View Map - Jensen Insurance Agency
125 N Parkside Dr #201f – Colorado Springs, CO 80909 – (719) 635-9557 – View Map - A Better Choice Auto Insurance
1863 N Circle Dr – Colorado Springs, CO 80909 – (719) 667-1301 – View Map
More effort can pay off
Cost effective BMW M3 insurance can be found online and from local agencies, and you should be comparing both in order to have the best price selection to choose from. Some insurance companies may not provide the ability to get a quote online and most of the time these small, regional companies only sell through local independent agencies.
You just learned many ideas to compare BMW M3 insurance prices in Colorado Springs. The most important thing to understand is the more companies you get rates for, the better likelihood of getting inexpensive Colorado Springs car insurance quotes. Consumers could even find that the most savings is with some of the smallest insurance companies. Smaller companies may cover specific market segments cheaper compared to the large companies like Allstate and Progressive.
When searching for the cheapest BMW M3 rate quotes, it’s not a good idea to buy lower coverage limits just to save a few bucks. In too many instances, someone sacrificed comprehensive coverage or liability limits only to regret at claim time they didn’t purchase enough coverage. Your focus should be to get the best coverage possible at an affordable rate, but don’t skip important coverages to save money.
More detailed car insurance information can be found by following these links:
- What if I Can’t Find Coverage? (Insurance Information Institute)
- How Much is Colorado Springs Auto Insurance for Teenage Males? (FAQ)
- Who Has Affordable Auto Insurance for a School Permit in Colorado Springs? (FAQ)
- Who Has the Cheapest Car Insurance for Young Drivers in Colorado Springs? (FAQ)
- Top Signs Your Brakes are Giving Out (State Farm)
- Understanding your Policy (NAIC.org)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)