The best way we recommend to save on auto insurance rates in Colorado Springs is to compare prices at least once a year from different companies in Colorado. Prices can be compared by following these guidelines.
- Try to learn a little about how your policy works and the things you can change to keep rates down. Many rating factors that are responsible for high rates such as inattentive driving and a not-so-good credit rating can be improved by making minor changes to your lifestyle.
- Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO and State Farm, while agents who are independent can provide rate quotes for many different companies.
- Compare the quotes to your existing coverage to see if switching to a new carrier will save money. If you find a better price and buy the policy, ensure there is no coverage lapse between policies.
- Give notification to your agent or company of your intention to cancel your current coverage and submit a down payment along with a completed application to your new insurance company. Immediately safely store the certificate verifying coverage along with the vehicle’s registration papers.
One thing to point out is to use similar coverage information on each price quote and and to analyze as many auto insurance providers as possible. Doing this guarantees a fair price comparison and a complete selection of prices.
It’s a known fact that insurance companies want to keep you from comparing rates. Insureds who shop for lower rates will presumably move their business because they stand a good chance of finding a more affordable policy. A recent car insurance study discovered that consumers who compared prices once a year saved about $3,500 over four years compared to drivers who never compared other company’s rates.
If finding the lowest price on insurance in Colorado Springs is your objective, then having some knowledge of the best ways to find and compare cheaper coverage can help make the process easier.
If you have car insurance now, you will be able to lower your rates using the tips covered below. Locating the most cost-effective car insurance policy in Colorado Springs is not that difficult. Nevertheless, Colorado drivers should learn how the larger insurance companies determine what you pay and use it to find better rates.
Car insurance policy discounts you can’t miss
Car insurance is not inexpensive, but there may be some discounts that may help make it more affordable. A few discounts will be applied at the time of quoting, but a few must be asked for before you will receive the discount.
- College Student Discount – College-age children who are enrolled in higher education away from home without a vehicle on campus may qualify for this discount.
- Early Switch Discount – Some car insurance companies reward drivers for renewing your policy prior to your current MX-5 Miata insurance policy expiration. You may see this discount when you get Colorado Springs car insurance quotes online.
- Own a Home and Save – Owning a home in Colorado Springs can get you a discount since home ownership requires personal responsibility.
- Driver’s Education for Students – Cut your cost by having your teen driver take driver’s ed class in school or through a local driver safety program.
- Anti-theft System – Vehicles that have factory anti-theft systems prevent vehicle theft and will qualify for a discount on a Colorado Springs car insurance quote.
- Low Miles Discount – Keeping the miles down on your Mazda may allow you to get lower rates on the low mileage vehicles.
- Paperless Signup – Some of the larger companies will give you a small discount for buying a policy and signing up online.
Drivers should understand that most credits do not apply to the overall cost of the policy. Most only cut individual premiums such as liability and collision coverage. So even though it sounds like all those discounts means the company will pay you, companies wouldn’t make money that way. Any amount of discount should help reduce your car insurance premiums.
The example below illustrates the difference between Mazda MX-5 Miata car insurance rates with and without discounts being applied to the rates. The data assumes a female driver, no tickets, 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 multi-car, safe-driver, homeowner, marriage, multi-policy, and claim-free discounts applied.
A partial list of companies that may include these discounts include:
If you need lower rates, check with each insurance company how many discounts you can get. Depending on the company, some discounts might not be offered in your area.
When price shopping your coverage, making a lot of price comparisons provides better odds of finding the best rates. Some regional insurers cannot provide price estimates online, so it’s necessary to compare price estimates from them as well.
The following companies are ready to provide price quotes in Colorado. To find cheap auto insurance in Colorado, it’s a good idea that you compare several of them to get the lowest price.
Mazda MX-5 Miata coverage analysis
The coverage information displayed below outlines a range of insurance prices for Mazda MX-5 Miata models. Knowing how prices are figured can help guide drivers when making informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MX-5 Miata Sport 2-Dr Convertible | $132 | $218 | $308 | $18 | $92 | $768 | $64 |
| MX-5 Miata Touring 2-Dr Convertible | $152 | $264 | $308 | $18 | $92 | $834 | $70 |
| MX-5 Miata Grand Touring 2-Dr Convertible | $152 | $264 | $308 | $18 | $92 | $834 | $70 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Estimates do not factor in specific location which can increase or decrease prices greatly.
Age-based car insurance rates by gender in Colorado Springs
The information below shows the comparison of Mazda MX-5 Miata car insurance costs for male and female drivers. The costs are based on no claims or driving violations, full coverage, $100 deductibles, single status, and no other discounts are factored in.
Can’t I compare rate quotes from local Colorado Springs insurance agencies?
Some consumers would rather get advice from a local agent and that can be a great decision One of the best bonuses of price shopping on the web is you may find better rates and also buy local.
After completing this simple form, the coverage information is emailed to local insurance agents in Colorado Springs that provide free Colorado Springs car insurance quotes for your insurance coverage. It’s much easier because you don’t need to leave your house because prices are sent to you. You can find lower rates and work with a local agent. In the event you want to get a comparison quote from a specific insurance company, don’t hesitate to find their quoting web page and fill out the quote form the provide.
Finding the right insurer is decision based upon more than just a cheap price quote. Get answers to these questions too.
- Does the agency have a current Errors and Omissions policy?
- Which companies do they recommend if they are an independent agency?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Are they able to provide referrals?
Why you need quality insurance for your Mazda MX-5 Miata
Even though Colorado Springs MX-5 Miata insurance rates can get expensive, buying car insurance is required by state law in Colorado and it also provides benefits you may not be aware of.
- The majority of states have mandatory insurance requirements which means you are required to buy a minimum amount of liability insurance in order to get the vehicle licensed. 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 your vehicle has a loan, almost all lenders will force you to have insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the lender may insure your Mazda at a much higher premium rate and force you to pay much more than you were paying before.
- Car insurance preserves both your Mazda MX-5 Miata and your personal assets. It will also provide coverage for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability coverage will also pay to defend you if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance definitely exceed the cost, especially when you need to use it. Despite what companies tell you, the average driver is overpaying more than $820 a year so you should quote and compare rates each time the policy renews to save money.
Insurance specifics
Learning about specific coverages of a insurance policy aids in choosing which coverages you need for your vehicles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Shown next are the normal coverages available from insurance companies.
Collision – This pays for damage to your MX-5 Miata from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things such as sustaining damage from a pot hole, driving through your garage door and crashing into a ditch. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible on your MX-5 Miata to get cheaper collision coverage.
Liability car insurance – Liability coverage provides protection from damages or injuries you inflict on a person or their property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/15 which stand for $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a total limit of $15,000 for damage to vehicles and property.
Liability can pay for things like medical expenses, bail bonds, emergency aid and funeral expenses. The amount of liability coverage you purchase is up to you, but you should buy as much as you can afford. Colorado state law requires minimum liability limits of 25/50/15 but it’s recommended drivers buy more coverage.
The next chart demonstrates why buying the state minimum limits may not be adequate.
Insurance for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like ambulance fees, dental work and hospital visits. They are often used in conjunction with a health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not an option in every state but can be used in place of medical payments coverage
Comprehensive coverage (or Other than Collision) – This coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for things such as vandalism, hitting a deer and rock chips in glass. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle from other drivers when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Mazda MX-5 Miata.
Due to the fact that many Colorado drivers carry very low liability coverage limits (which is 25/50/15), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Get the best coverage at the lowest price
As you restructure your insurance plan, you should never skimp on coverage in order to save money. In too many instances, an insured cut collision coverage only to find out that their decision to reduce coverage ended up costing them more. Your goal should be to buy a smart amount of coverage at the best price and still be able to protect your assets.
We just presented quite a bit of information on how to get a better price on Mazda MX-5 Miata insurance in Colorado Springs. The key concept to understand is the more quotes you get, the better your chances of lowering your premium rates. Consumers could even find that the lowest car insurance rates come from a small local company. Smaller companies can often provide lower premium rates in certain areas compared to the large companies like Allstate or State Farm.
Additional detailed information can be read by following these links:
- Booster Seat Ratings (iihs.org)
- Who Has Affordable Colorado Springs Car Insurance Rates for Drivers Under 25? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Ford Fusion in Colorado Springs? (FAQ)
- How Much is Auto Insurance for a Dodge Grand Caravan in Colorado Springs? (FAQ)
- Who Has Affordable Auto Insurance for a School Permit in Colorado Springs? (FAQ)
- Auto Insurance Learning Center (State Farm)
- Safety Belts FAQ (iihs.org)