A recent NerdWallet.com study revealed that the majority of drivers have stayed with the same insurance company for more than four years, and 38% of customers have never even shopped around for cheaper coverage. Consumers in Colorado Springs can save up to 35% each year by just shopping around, but most just don’t grasp the amount of money they would save if they bought a different policy.
If saving money is your primary concern, then the best way to find better pricing on auto insurance rates is to start doing a yearly price comparison from different companies who provide auto insurance in Colorado Springs.
Step 1: Try to comprehend how companies set rates and the measures you can control to keep rates in check. Many factors that drive up the price like traffic violations and an imperfect credit history can be amended by making lifestyle changes or driving safer. Read the full article for the details to lower rates and find possible discounts that are available.
Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like Progressive or State Farm, while independent agencies can give you price quotes from multiple sources. Begin your rate comparison
Step 3: Compare the new rate quotes to your current policy to see if switching to a new carrier will save money. If you can save some money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Provide proper notification to your current company to cancel your current coverage and submit the signed application along with the required initial payment to your new insurance company. As soon as you can, place the new certificate verifying coverage in an easily accessible location in your vehicle.
The most important part of shopping around is to use identical limits and deductibles on every price quote and to quote with every company you can. This guarantees the most accurate price comparison and many rates to choose from.
The fastest way that we advise to compare rates for Lincoln Mark LT insurance in Colorado Springs is to understand car insurance companies participate in online systems to provide you with a free rate quote. To get started, all you need to do is provide the companies a bit of rating information such as level of coverage desired, your general credit rating, types of safety features, and how much education you have. Your rating data gets transmitted to insurance companies and they return cost estimate quickly.
To compare multiple company lower-cost Lincoln Mark LT insurance rates now, click here then complete the form.
The companies shown below are our best choices to provide comparison quotes in Colorado Springs, CO. To find cheap car insurance in Colorado Springs, CO, we suggest you visit several of them in order to get a fair rate comparison.
Buying the right Mark LT insurance in Colorado is an important decision
Even though it’s not necessarily cheap to insure a Lincoln in Colorado Springs, paying for car insurance serves several important purposes.
- Just about all states have minimum liability requirements which means state laws require specific limits of liability insurance coverage in order to be legal. 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 Lincoln, most banks will require that you have physical damage coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Lincoln at a significantly higher premium and force you to pay for the expensive policy.
- Insurance safeguards your Lincoln Mark LT and your assets. It will also provide coverage for medical bills incurred in an accident. Liability insurance also pays for attorney fees and expenses if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and collision coverage will cover the repair costs.
The benefits of insuring your Mark LT definitely exceed the price paid, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is wasting up to $865 each year so you should quote and compare rates at every policy renewal to save money.
Save a ton by taking advantage of these nine discounts
Companies offering auto insurance don’t always advertise their entire list of discounts in an easy-to-find place, so here is a list some of the more common and the more hidden credits available to lower your premiums when you buy Colorado Springs car insurance online.
- ABS Brakes – Cars that have steering control and anti-lock brakes can avoid accidents and the ABS can save up to 10%.
- Driving Data Discount – Insureds who allow driving data collection to look at driving patterns by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates if they exhibit good driving behavior.
- Discounts for Seat Belt Usage – Drivers who require all occupants to buckle up could save 15% on the premium charged for medical payments and/or PIP.
- Good Student – Performing well in school can get you a discount of up to 25%. Most companies allow this discount up to age 25.
- Full Payment Discount – By paying your entire bill at once instead of making monthly payments you can avoid the installment charge.
- Drive Safe and Save – Drivers who don’t get into accidents could pay up to 40% less than drivers with accidents.
- Active Service Discounts – Being on active deployment in the military could be rewarded with lower auto insurance rates.
- New Vehicle Savings – Buying insurance on a new vehicle can save you some money compared to insuring an older model.
- Low Mileage Discounts – Low mileage vehicles could earn discounted rates on garaged vehicles.
Keep in mind that most discounts do not apply to the whole policy. Most only cut the price of certain insurance coverages like collision or personal injury protection. Despite the appearance that all those discounts means the company will pay you, nobody gets a free ride.
The best auto insurance companies and the discounts they provide are outlined below.
- State Farm has discounts for good student, defensive driving training, accident-free, Drive Safe & Save, and multiple policy.
- American Family policyholders can earn discounts including good student, Steer into Savings, accident-free, defensive driver, and bundled insurance.
- GEICO may offer discounts for membership and employees, emergency military deployment, military active duty, good student, five-year accident-free, and multi-policy.
- 21st Century offers discounts including anti-lock brakes, theft prevention, student driver, driver training, defensive driver, and good student.
- Progressive offers discounts for good student, continuous coverage, online quote discount, homeowner, and multi-vehicle.
Double check with every prospective company which discounts can lower your rates. Savings might not be offered everywhere. For a list of providers that have a full spectrum of discounts in Colorado, click here.
Independent and exclusive insurance agents
A lot of people would prefer to get advice from a local agent and doing so can bring peace of mind The biggest benefit of price shopping on the web is the fact that you can find the lowest rates and still have an agent to talk to. Buying insurance from local agencies is especially important in Colorado Springs.
To find an agent, once you fill out this quick form, your coverage information is instantly submitted to local insurance agents that give free quotes for your business. You never need to find an agent on your own because prices are sent to you instantly. It’s the lowest rates AND a local agent. If for some reason you want to get a comparison quote from a specific insurance company, don’t hesitate to visit that company’s website and complete a quote there.
Finding the right insurer needs to be determined by more than just the premium amount. Below are some questions you should ask.
- What company holds the largest book of business for them?
- Does the agency provide any after hours assistance?
- Which members of your family are coverage by the policy?
- Do they review policy coverages at every renewal?
- Do they have a Better Business Bureau rating in Colorado Springs?
Auto insurance coverages
Learning about specific coverages of auto insurance aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.
Collision coverage
Collision insurance will pay to fix damage to your Mark LT resulting from a collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims such as rolling your car, colliding with a tree and crashing into a building. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. It’s also possible to raise the deductible on your Mark LT in order to get cheaper collision rates.
Comprehensive auto coverage
This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like a tree branch falling on your vehicle, a broken windshield, hail damage, vandalism and theft. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and also any damage incurred to your Lincoln Mark LT.
Due to the fact that many Colorado drivers carry very low liability coverage limits (25/50/15 in Colorado), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Most of the time these limits are similar to your liability insurance amounts.
Auto liability
Liability insurance provides protection from damage or injury you incur to people or other property that is your fault. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/15 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $15,000. Some companies may use a combined single limit or CSL which provides one coverage limit with no separate limits for injury or property damage.
Liability insurance covers things such as funeral expenses, court costs, legal defense fees, medical expenses and structural damage. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible. Colorado state minimum liability requirements are 25/50/15 but it’s recommended drivers buy more coverage.
The illustration below demonstrates why buying low liability limits may not be high enough to cover claims.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses such as doctor visits, ambulance fees, hospital visits and chiropractic care. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers you and your occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states and gives slightly broader coverage than med pay
In conclusion
In this article, we covered many ideas to lower your Lincoln Mark LT insurance rates in Colorado Springs. The most important thing to understand is the more companies you get auto insurance rates for, the better likelihood of getting the cheapest Lincoln Mark LT rate quotes. Drivers may even discover the lowest rates are with the least-expected company.
Drivers change insurance companies for a variety of reasons including delays in paying claims, high rates after DUI convictions, denial of a claim or even not issuing a premium refund. Whatever your reason, finding the right car insurance provider is pretty simple and you could end up saving a buck or two.
Lower-priced car insurance in Colorado Springs can be found both online and also from your neighborhood Colorado Springs agents, and you should be comparing both to have the best chance of lowering rates. A few companies may not provide online rate quotes and most of the time these regional insurance providers only sell through independent insurance agencies.
More learning opportunities
- Event Data Recorders FAQ (iihs.org)
- What Insurance is Cheapest for Drivers Under 21 in Colorado Springs? (FAQ)
- Who Has Cheap Auto Insurance for a Ford F-150 in Colorado Springs? (FAQ)
- Who Has Cheap Colorado Springs Auto Insurance Rates for Infrequent Drivers? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance Quotes for a Honda Civic? (FAQ)
- How Much are Car Insurance Quotes for Electric Cars in Colorado Springs? (FAQ)
- How Much is Colorado Springs Car Insurance for a Toyota 4Runner? (FAQ)
- Understanding Car Crashes Video (iihs.org)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Auto Insurance Learning Center (State Farm)