How long has it been since you sat down and looked for more competitive Subaru WRX insurance in Colorado Springs? Locating low-cost insurance for your Subaru WRX in Colorado can be difficult, but you can follow the following methods to find lower rates.
There is a right way and a wrong way to buy insurance so you’re going to learn the proper way to compare rates on a Subaru and find the lowest price.
Seven factors that impact insurance rates
Lots of things are taken into consideration when you get your auto insurance bill. Some of the criteria are obvious such as traffic violations, but other factors are more obscure such as your marital status or your vehicle rating. Consumers need to have an understanding of some of the things that play a part in calculating car insurance rates. When you understand what controls the rates you pay, this enables informed choices that could result in much lower annual insurance costs.
Small frequent insurance claims are not good – If you’re an insured who likes to file claims you should expect higher premiums or even policy non-renewal. Auto insurance companies in Colorado generally give cheaper rates to policyholders who do not rely on their insurance for small claims. Insurance coverage is meant to be used in the event of claims that you cannot pay yourself.
Low physical damage deductibles cost more – The deductibles you choose are the amount of money you are willing to pay out-of-pocket before a claim is paid by your company. Coverage for physical damage, also known as collision and other-than-collision, covers damage that occurs to your car. Some instances where coverage would apply are a windshield broken by a bird, damage from fire, and damage from wind. The higher the amount you’re willing to pay, the bigger discount you will receive.
Marriage discount – Having a spouse can actually save you money on your car insurance policy. It demonstrates that you tend to be more financially stable and statistics show married couples file fewer claims.
Annual mileage and car insurance costs – The more miles you rack up on your Subaru in a year the more you’ll pay to insure your vehicle. Almost all companies rate vehicles determined by how the vehicle is used. Cars and trucks that sit idle most of the time qualify for better rates as compared to vehicles used primarily for driving to work. A policy that improperly rates your WRX is throwing money out the window. Double check that your policy shows how each vehicle is driven, because improper ratings can cost you money.
High stress occupation may mean higher rates – Occupations such as judges, air traffic controllers, and medical professionals generally have higher premiums than the average policyholder because of intense work-related stress and incredibly demanding work hours. On the flip side, careers such as farmers, historians and homemakers have the lowest average rates.
Rates impacted by your city – Being located in small towns and rural areas has definite advantages when insuring your vehicles. Fewer drivers on the road means a lower chance of having an accident and a lower car theft rate. People in densely populated areas have to deal with more traffic problems and longer commutes to work. More time on the road means a statistically higher chance of an accident.
Mature drivers pay less – Mature drivers are viewed as being more responsible, tend to cause fewer accidents, and are safer drivers. Young drivers are statistically shown to be less responsible with other occupants in the car therefore car insurance rates are much higher.
Subaru WRX insurance claim data – Companies study historical loss data as a tool for profitable underwriting. Vehicles that the data determines to have higher loss trends will have higher rates. The information below illustrates the insurance loss data for Subaru WRX vehicles.
For each coverage category, the claim probability for all vehicles combined as an average is equal to 100. Numbers that are below 100 indicate a favorable loss history, while numbers above 100 indicate more frequent claims or an increased probability of a larger loss.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Subaru WRX 4WD||141||82||158||94||81||84|
Statistics from IIHS.org for 2013-2015 Model Years
Cheaper Subaru WRX insurance in Colorado Springs
Insurance is not an enjoyable expense, but you might already qualify for some discounts that can help lower your rates. Certain reductions will be credited at the time of quoting, but a few need to be specifically requested before you get the savings.
- Passive Restraints and Air Bags – Cars that have air bags can receive discounts of more than 20%.
- Accident Forgiveness – Not a discount per se, but some insurance companies may permit one accident without the usual rate increase if you are claim-free for a certain period of time.
- Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them take driver’s ed class in school.
- Bundled Policy Discount – If you combine your homeowners and auto policies with the same insurance company you could earn a discount of 10% to 20% off each policy.
- Service Members Pay Less – Having a family member in the military may qualify for rate reductions.
- Sign Online – Some larger companies will provide an incentive for signing up on their website.
- College Student Discount – Kids who are attending college and won’t have access to an insured vehicle may be insured at a cheaper rate.
- Senior Citizen Rates – Older drivers may be able to get a slight reduction on a Colorado Springs auto insurance quote.
- Clubs and Organizations – Belonging to specific professional or occupational memberships or organizations may earn a discount when shopping for insurance.
- No Claims – Drivers who don’t have accidents pay much less in comparison to policyholders that have many claims.
Just know that most discounts do not apply to the entire cost. Most only cut specific coverage prices like collision or personal injury protection. So when it seems like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.
Companies and a selection of discounts can be read below.
- State Farm offers premium reductions for multiple autos, anti-theft, defensive driving training, driver’s education, Drive Safe & Save, and passive restraint.
- American Family has savings for defensive driver, accident-free, multi-vehicle, Steer into Savings, and mySafetyValet.
- GEICO includes discounts for military active duty, anti-lock brakes, multi-vehicle, federal employee, emergency military deployment, daytime running lights, and membership and employees.
- 21st Century has discounts for driver training, air bags, student driver, automatic seat belts, early bird, and homeowners.
- Progressive may include discounts for online signing, multi-vehicle, continuous coverage, good student, and multi-policy.
Before buying, ask every prospective company which discounts they offer. Some discounts might not be offered on policies everywhere. To see a list of providers with the best Subaru WRX insurance discounts in Colorado, click here to view.
Persistence is the key to cheap rates
Cheap Subaru WRX insurance in Colorado Springs can be sourced from both online companies and also from your neighborhood Colorado Springs agents, and you need to comparison shop both to have the best rate selection. A few companies do not provide rate quotes online and usually these small, regional companies work with independent agents.
In this article, we covered a lot of ways to reduce Subaru WRX insurance rates online in Colorado Springs. The key thing to remember is the more providers you compare, the higher your chance of finding inexpensive Colorado Springs auto insurance quotes. You may even be surprised to find that the most savings is with the least-expected company.
When shopping online for insurance, you should never reduce coverage to reduce premium. There are a lot of situations where someone dropped full coverage only to discover later that it was a big mistake. Your goal is to buy the best coverage you can find at the best cost, not the least amount of coverage.
Steps to buying affordable Subaru WRX insurance in Colorado Springs
If you want to save money, the best way to save money on Subaru WRX insurance is to compare prices annually from insurers in Colorado Springs.
- Gain an understanding of individual coverages and the things you can change to prevent expensive coverage. Many rating criteria that cause high rates like speeding tickets, accidents and poor credit history can be rectified by making small lifestyle or driving habit changes.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from a single company like Progressive or Farmers Insurance, while independent agents can quote prices from multiple insurance companies.
- Compare the new rate quotes to your current policy to determine if switching companies saves money. If you find a lower rate and make a switch, make sure coverage is continuous and does not lapse.
The most important part of shopping around is to compare identical limits and deductibles on every price quote and and to analyze as many companies as possible. This provides a fair rate comparison and and a good selection of different prices.
To read more, feel free to visit the resources below:
- Five Tips to Save on Auto Insurance (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance Rates for a Jeep Wrangler in Colorado Springs? (FAQ)
- How Much is Auto Insurance for Teenagers in Colorado Springs? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- Auto Crash Statistics (Insurance Information Institute)