Cheapest Kia Optima Insurance in Colorado Springs

  1. Home
  2. >
  3. Colorado Springs Auto Insurance
  4. >
  5. Kia Optima

Really, the only way to get more affordable Kia Optima insurance in Colorado Springs is to compare quotes once a year from providers in Colorado.

  • Step 1: Take a few minutes and learn about what coverages are included in your policy and the things you can change to keep rates in check. Many policy risk factors that result in higher rates like speeding tickets, accidents and a not-so-good credit score can be amended by improving your driving habits or financial responsibility.
  • Step 2: Get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from a single company like Progressive or State Farm, while independent agents can quote rates for a wide range of companies. Compare rates now
  • Step 3: Compare the new rates to your current policy to determine if switching companies saves money. If you can save some money and change companies, verify that coverage does not lapse between policies.
  • Step 4: Provide written notification to your current company of your intention to cancel your current car insurance policy. Submit a signed application and payment for the new coverage. Once the paperwork is finalized, safely store the proof of insurance certificate in a readily accessible location in your vehicle.

The most important part of shopping around is to compare similar coverage information on each quote request and and to get price quotes from as many different insurance providers as possible. This helps ensure a fair price comparison and a complete selection of prices.

Insurance rates Kia Optima in Colorado SpringsIt's safe to assume that car insurance companies want to keep you from comparing prices. Consumers who shop around once a year will most likely switch companies because they have good chances of finding good coverage at a lower price. A recent insurance study discovered that people who compared rates annually saved approximately $850 each year as compared to drivers who never compared prices.

If finding the lowest price for insurance is your objective, then having a good understanding the best way to shop and compare coverages can make it easier for you to save money.

If you currently have insurance, you will surely be able to reduce the price you pay using the concepts you're about to learn. This information will let you in on the most effective way to quote insurance and how to save the most money. Nevertheless, Colorado consumers do need to learn the way insurance companies market insurance on the web because rates fluctuate considerably.

Lower-cost Colorado Springs insurance rates with discounts

Companies that sell car insurance do not advertise every discount in an easy-to-find place, so the following is a list of a few of the more well known in addition to some of the lesser obvious discounts that may be available.Insurance discounts

  • No Claims - Drivers who don't have accidents have much lower rates when compared to bad drivers.
  • Good Grades Discount - Maintaining excellent grades may save you up to 25%. You can use this discount normally until age 25.
  • Full Payment Discount - If you can afford to pay the entire bill instead of monthly or quarterly installments you could save up to 5%.
  • Save over 55 - Mature drivers can get better insurance rates.
  • Discount for Home Ownership - Being a homeowner can get you a discount because of the fact that having a home means you have a higher level of financial diligence.
  • Multi-car Discount - Having multiple vehicles with one company could earn a price break for each car.

Remember that most discounts do not apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. Even though it may seem like adding up those discounts means a free policy, it's just not the way it works.

The diagram below illustrates the difference between Kia Optima yearly insurance costs with and without some available policy discounts. The premium estimates are based on a male driver, no driving violations, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, multi-policy, multi-car, and claim-free discounts applied.

Some companies that have most of these discounts are:

When comparing rates, check with every prospective company what discounts are available to you. Some discounts may not be offered everywhere. To choose insurers who offer cheap Kia Optima insurance quotes in Colorado, click here.

It's important to know that comparing a large number of companies will enable you to find lower pricing. Some companies don't provide rate quotes online, so it's recommended that you also compare price estimates from them, too.

The auto insurance companies shown below have been selected to offer price quotes in Colorado. If you want cheap auto insurance in Colorado Springs, it's a good idea that you click on several of them to find the most competitive auto insurance rates.

Premium rates and analysis

The rate table shown next outlines different policy rates for Kia Optima models. Having a better understanding of how insurance policy premiums are figured can be of help when making informed coverage decisions.

Kia Optima Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $212 $416 $516 $30 $154 $1,328 $111
Optima EX $240 $492 $516 $30 $154 $1,432 $119
Optima SX $240 $492 $516 $30 $154 $1,432 $119
Get Your Own Custom Quote Go

Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Price information does not factor in garaging location in Colorado Springs which can change insurance rates significantly.

Choosing deductibles

When shopping for car insurance, a common question is how high should your deductibles be. The following tables can help show the costs and benefits when you select higher and lower comp and collision deductibles. The first data table uses a $100 deductible and the second price table uses a $500 deductible.

Kia Optima insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $302 $546 $396 $24 $118 $1,411 $118
Optima EX $342 $644 $396 $24 $118 $1,549 $129
Optima SX $342 $644 $396 $24 $118 $1,549 $129
Get Your Own Custom Quote Go
Kia Optima insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $220 $368 $396 $24 $118 $1,126 $94
Optima EX $250 $434 $396 $24 $118 $1,222 $102
Optima SX $250 $434 $396 $24 $118 $1,222 $102
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rate quotes do not factor in zip code location which can revise premium rates considerably.

Based on the above data, using a $100 deductible will cost in the ballpark of $26 more each month or $312 annually across all Kia Optima models than buying the higher $500 deductible. Since you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you usually have at least 15 months between claim filings, you would probably save some money if you choose a higher deductible.

Violations and accidents raise rates

The illustration below shows how violations and at-fault collisions increase Kia Optima car insurance rates for different insured age categories. The premium estimates are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

How much more does full coverage cost?

The chart below illustrates the comparison of Kia Optima insurance costs with and without physical damage coverage. The premiums are based on no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no other discounts are factored in.

Guidelines for eliminating full coverage

There is no set guideline for eliminating physical damage coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let's pretend your Kia Optima settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $3,000 after paying your deductible. If you are currently paying more than $300 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some cases where dropping physical damage coverage is not financially feasible. If you still have a lienholder on your title, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not consider dropping full coverage.

When to have guidance from an insurance agent

A lot of people prefer to sit down with an agent. A good thing about getting free rate quotes online is you may find cheap insurance rates and also buy local. Buying from local insurance agents is still important in Colorado Springs.

Insurance agency in Colorado SpringsBy using this simple form, your coverage information is emailed to local insurance agents in Colorado Springs that provide free Colorado Springs car insurance quotes for your business. It's much easier because you don't need to find an agent on your own because prices are sent directly to you. You can find the lowest rates and a licensed agent to work with. If you have a need to get a rate quote from a specific insurance provider, feel free to find their quoting web page and submit a quote form there.

Shown below are Colorado Springs car insurance companies that may be able to provide price quotes for Kia Optima insurance in Colorado Springs.

View more agents

Picking the best insurance company is decision based upon more than just the quoted price. Here are some questions you might want to ask.

  • Does the agency have a current Errors and Omissions policy?
  • Does the agent help file claims?
  • Is there any savings for paying the full premium?
  • How much can you save by raising your physical damage deductibles?
  • Do they get paid more for recommending certain coverages?

The coverage is in the details

Learning about specific coverages of your policy helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy.

Auto liability - This provides protection from damage or injury you incur to a person or their property. This insurance protects YOU against other people's claims. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 25/50/15 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $15,000 paid for damaged property. Occasionally you may see a combined limit which combines the three limits into one amount without having the split limit caps.

Liability insurance covers claims such as bail bonds, structural damage, funeral expenses, legal defense fees and court costs. How much coverage you buy is up to you, but you should buy higher limits if possible. Colorado state law requires minimum liability limits of 25/50/15 but you should think about purchasing more liability than the minimum.

The illustration below shows why the minimum limit may not be adequate.

Medical payments coverage and PIP - Medical payments and Personal Injury Protection insurance pay for immediate expenses such as nursing services, ambulance fees and rehabilitation expenses. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive coverage - This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like a tree branch falling on your vehicle, fire damage, rock chips in glass and vandalism. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverage - Collision insurance will pay to fix damage to your Optima from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things like hitting a mailbox, rolling your car, sustaining damage from a pot hole, backing into a parked car and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. It's also possible to choose a higher deductible on your Optima to save money on collision insurance.

Uninsured/Underinsured Motorist coverage - This protects you and your vehicle's occupants from other drivers when they are uninsured or don't have enough coverage. This coverage pays for injuries sustained by your vehicle's occupants as well as damage to your Kia Optima.

Since a lot of drivers only carry the minimum required liability limits (25/50/15), their liability coverage can quickly be exhausted. That's why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently the UM/UIM limits are identical to your policy's liability coverage.

Persistence will pay off

Insureds switch companies for any number of reasons including delays in responding to claim requests, lack of trust in their agent, not issuing a premium refund and policy cancellation. Regardless of your reason for switching companies, finding a great new company is pretty easy and you might even save some money in the process.

As you restructure your insurance plan, never buy lower coverage limits just to save a few bucks. Too many times, someone dropped liability limits or collision coverage to discover at claim time that their decision to reduce coverage ended up costing them more. Your aim should be to purchase a proper amount of coverage at the lowest possible cost and still be able to protect your assets.

Throughout this article, we presented some good ideas how to compare Kia Optima insurance prices in Colorado Springs. The key concept to understand is the more times you quote, the better likelihood of getting affordable Kia Optima insurance quotes. You may even find the most savings is with a small mutual company.

To read more, feel free to visit these articles: