Car Insurance Rate Quotes for a Honda Odyssey in Colorado Springs

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Discount Honda Odyssey insuranceIf your goal is the lowest price, then the best way to get the cheapest car insurance rates in Colorado Springs is to make a habit of regularly comparing prices from insurers that insure vehicles in Colorado.

  • Step 1: Try to understand how insurance works and the things you can change to keep rates in check. Many policy risk factors that increase rates such as speeding tickets, accidents and an imperfect credit rating can be eliminated by improving your driving habits or financial responsibility. Continue reading for ideas to get lower rates and find hidden discounts.
  • Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or Allstate, while independent agents can provide rate quotes from many different companies.
  • Step 3: Compare the new rate quotes to your existing policy to see if a cheaper rate is available. If you can save some money and switch companies, make sure there is no lapse in coverage.
  • Step 4: Provide notification to your current agent or company of your intent to cancel your current car insurance policy. Submit the required down payment along with the signed application to the newly selected company. When you receive it, store the proof of insurance certificate in an accessible location in your vehicle.

The critical component of shopping around is to compare identical coverage information on every quote and and to get rate quotes from as many auto insurance providers as possible. Doing this enables an accurate price comparison and the best rate selection.

It's hard to fathom, but nearly 70% of customers have remained with the same auto insurance company for at least four years, and 38% of drivers have never compared auto insurance rates at all. With the average auto insurance premium being $1,800, Colorado Springs drivers could cut their rates by nearly $610 a year just by comparing rates, but they don't know the large savings they would see if they switched to a more affordable policy.

Shopping for cheaper auto insurance coverage in Colorado Springs is not as time-consuming as you think. If you're already insured or just want to save money, you can use these techniques to find better prices and possibly find even better coverage. Smart shoppers just need to know the proper way to compare different rates online.

The providers in the list below can provide quotes in Colorado Springs, CO. In order to find the cheapest auto insurance in Colorado Springs, CO, we recommend you visit several of them in order to get a fair rate comparison.

Car insurance data for a Honda Odyssey

The table displayed below covers a range of insurance rates for Honda Odyssey models. Being more informed about how car insurance premiums are established can be useful when making decisions on the best policy to buy.

Honda Odyssey Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $126 $232 $368 $22 $110 $858 $72
Odyssey EX $126 $282 $368 $22 $110 $908 $76
Odyssey EX W/Rear Entertainment $126 $282 $368 $22 $110 $908 $76
Odyssey EX-L $144 $332 $368 $22 $110 $976 $81
Odyssey EX-L W/Rear Entertainment $144 $332 $368 $22 $110 $976 $81
Odyssey EX-L W/Navigation $144 $332 $368 $22 $110 $976 $81
Odyssey Touring $162 $332 $368 $22 $110 $994 $83
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Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Price estimates do not factor in specific Colorado Springs garaging location which can revise auto insurance rates considerably.

An analysis of deductible level

The hardest decision when buying coverage is which deductible level should you buy. The premium rates below highlight the difference in cost between high and low insurance deductibles. The first table uses a $100 deductible for physical damage and the second price chart uses a $500 deductible.

Honda Odyssey insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $264 $448 $352 $20 $106 $1,215 $101
Odyssey EX $264 $546 $352 $20 $106 $1,313 $109
Odyssey EX W/Rear Entertainment $264 $546 $352 $20 $106 $1,313 $109
Odyssey EX-L $302 $644 $352 $20 $106 $1,449 $121
Odyssey EX-L W/Rear Entertainment $302 $644 $352 $20 $106 $1,449 $121
Odyssey EX-L W/Navigation $302 $644 $352 $20 $106 $1,449 $121
Odyssey Touring $342 $644 $352 $20 $106 $1,489 $124
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Honda Odyssey insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $192 $304 $352 $20 $106 $974 $81
Odyssey EX $192 $368 $352 $20 $106 $1,038 $87
Odyssey EX W/Rear Entertainment $192 $368 $352 $20 $106 $1,038 $87
Odyssey EX-L $220 $434 $352 $20 $106 $1,132 $94
Odyssey EX-L W/Rear Entertainment $220 $434 $352 $20 $106 $1,132 $94
Odyssey EX-L W/Navigation $220 $434 $352 $20 $106 $1,132 $94
Odyssey Touring $250 $434 $352 $20 $106 $1,162 $97
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Price estimates do not factor in the specific area where the vehicle is garaged which can affect premium rates noticeably.

Using the data above, we can ascertain that using a $100 deductible costs about $24 more each month or $288 a year averaged for all Odyssey models than choosing the higher $500 deductible. Because you would be required to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you usually have at least 17 months between claim filings, you would probably be better off by going with a higher deductible. Here's the way this decision is made.

Average monthly premium for $100 deductibles: $115
Average monthly premium for $500 deductibles (subtract): - $91
Monthly savings from raising deductible: $24
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $24
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 17 months

The example below highlights how deductible selection and can change Honda Odyssey insurance rates for each age group. The premiums are based on a married female driver, comp and collision included, and no additional discounts are factored in.

Driving violations and accidents

The information below demonstrates how traffic citations and accidents increase Honda Odyssey auto insurance rates for different ages of insureds. Data assumes a single female driver, full physical damage coverage, $250 deductibles, and no discounts are applied.

Rate comparison of full coverage and liability-only

The chart below shows the difference between Honda Odyssey annual premium costs with liability coverage only compared to full coverage. The rate quotes are based on no claims or driving violations, $250 deductibles, drivers are not married, and no discounts are applied.

Are you wasting money on full coverage?

There is no definitive guideline for excluding full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your Honda Odyssey claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after you pay the deductible. If premiums are more than $600 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some scenarios where only buying liability is not recommended. If you haven't paid off your loan, you have to keep full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not buy liability only.

Save a ton on Honda Odyssey insurance in Colorado Springs with these seven discounts

Some insurers don't always list all available discounts in a way that's easy to find, so the list below gives a summary of a few of the more well known and the more hidden credits available to bring down your rates.Cheaper insurance with discounts

  • Paperwork-free - Certain insurance companies will give you a small discount get Colorado Springs car insurance on the web.
  • Driver Education Discount - It's a good idea to have your young drivers take driver's ed class if offered at their school.
  • Service Members Pay Less - Being deployed in the military may lower your prices slightly.
  • Early Renewal Discounts - A few insurance companies allow discounts for buying a policy prior to your current Odyssey insurance policy expiring. It's a savings of about 10%.
  • Smart Student Discounts - Excelling in school can earn a discount of 20% or more. The good student discount can last up until you turn 25.
  • Auto/Life Discount - Not all insurance carriers offer life insurance, but some may give you better premium rates if you take out a life policy as well.
  • One Accident Forgiven - Not really a discount, but a handful of insurance companies may permit one accident without getting socked with a rate hike so long as you are claim-free for a particular time prior to the accident.

Remember that some of the credits will not apply to your bottom line cost. Some only reduce specific coverage prices like medical payments or collision. Despite the appearance that adding up those discounts means a free policy, companies wouldn't make money that way. Any amount of discount will help reduce your overall bill.

The illustration below illustrates the comparison of Honda Odyssey auto insurance rates with and without discounts. The prices are based on a male driver, no violations or accidents, Colorado state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, safe-driver, multi-policy, homeowner, and claim-free discounts applied.

A few of the larger companies and some of the premium reductions they offer can be found below.

  • State Farm includes discounts for good driver, driver's education, student away at school, passive restraint, Drive Safe & Save, and good student.
  • Farmers Insurance offers discounts for electronic funds transfer, teen driver, homeowner, distant student, business and professional, early shopping, and switch companies.
  • Progressive discounts include continuous coverage, good student, online signing, multi-vehicle, and multi-policy.
  • GEICO may have discounts that include daytime running lights, defensive driver, driver training, multi-policy, emergency military deployment, multi-vehicle, and membership and employees.
  • Auto-Owners Insurance offers premium reductions for good student, paid in full, anti-theft, safe driver, paperless, teen driver, and mature driver.
  • The Hartford policyholders can earn discounts including bundle, defensive driver, driver training, vehicle fuel type, and good student.
  • Farm Bureau offers discounts including youthful driver, driver training, safe driver, good student, renewal discount, multi-vehicle, and 55 and retired.
  • USAA may include discounts for driver training, defensive driver, annual mileage, good student, multi-vehicle, and vehicle storage.

When quoting, ask every insurance company to apply every possible discount. Some of the earlier mentioned discounts may not be available in Colorado Springs. If you would like to view providers that offer some of these discounts in Colorado Springs, follow this link.

Three reasons auto insurance is important

Even though it can be expensive, buying auto insurance may be required for several reasons.

  • Most states have mandatory insurance requirements which means the state requires specific limits of liability insurance in order to drive the car. 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.
  • If you have a loan on your Honda Odyssey, most banks will require that you carry insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank may buy a policy for your Honda at a significantly higher premium and require you to fork over for the expensive policy.
  • Auto insurance protects both your car and your personal assets. It will also provide coverage for most medical and hospital costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if you are sued as the result of your driving. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of having insurance outweigh the cost, specifically if you ever have a liability claim. The average driver in America overpays as much as $869 every year so you should quote rates once a year at a minimum to save money.

When to talk to an insurance agency

Many people prefer to buy from a licensed agent and that is OK! Professional insurance agents can help you build your policy and will help you if you have claims. A nice benefit of getting free rate quotes online is the fact that you can find lower rates and still choose a local agent. Buying insurance from neighborhood agents is especially important in Colorado Springs.

Insurance agents in Colorado SpringsAfter filling out this form (opens in new window), your information is emailed to local insurance agents in Colorado Springs who will gladly provide quotes for your insurance coverage. You never need to even leave your home since price quotes are sent to the email address you provide. If for some reason you want to get a price quote from one company in particular, you just need to search and find their rate quote page and fill out the quote form the provide.

Choosing an provider needs to be determined by more than just the premium amount. The following questions are important to ask.

  • Do clients work directly with the agent or are most inquiries handled by a CSR?
  • Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
  • Are they paid to recommend certain coverages?
  • Does the agency have a current Errors and Omissions policy?
  • Can you use your own choice of collision repair facility?

Once you have received positive feedback to any questions you may have and locked in a price quote, you may have just found an provider that can be trusted to adequately provide car insurance. Just keep in mind you are able to cancel a policy at any point so never feel that you are obligated to your new company indefinitely.

Coverages available on your auto insurance policy

Learning about specific coverages of auto insurance helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive auto insurance

This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as damage from a tornado or hurricane, theft and hitting a deer. The most you can receive from a comprehensive claim is the actual cash value, so if it's not worth much more than your deductible it's probably time to drop comprehensive insurance.

Liability

This coverage provides protection from damages or injuries you inflict on other's property or people by causing an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/15 that means you have $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged property. Occasionally you may see a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability insurance covers things like medical services, court costs, attorney fees, legal defense fees and pain and suffering. How much liability should you purchase? That is your choice, but you should buy as high a limit as you can afford. Colorado requires minimum liability limits of 25/50/15 but drivers should carry higher limits.

The chart below shows why buying low liability limits may not provide adequate coverage.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like rehabilitation expenses, ambulance fees and surgery. They can be utilized in addition to your health insurance program or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Coverage for collisions

Collision insurance covers damage to your Odyssey resulting from a collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things such as crashing into a building, crashing into a ditch and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible on your Odyssey to save money on collision insurance.

Coverage for uninsured or underinsured drivers

Your UM/UIM coverage protects you and your vehicle's occupants when the "other guys" either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as your vehicle's damage.

Due to the fact that many Colorado drivers only carry the minimum required liability limits (which is 25/50/15), their limits can quickly be used up. That's why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually your uninsured/underinsured motorist coverages are identical to your policy's liability coverage.