Mazda Tribute Insurance Rates in Colorado Springs

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Insurance rates Mazda Tribute in Colorado SpringsIf saving money is your primary concern, then the best way to save on Mazda Tribute insurance is to regularly compare price quotes from providers who provide car insurance in Colorado Springs.

  1. Try to learn about how companies set rates and the modifications you can make to keep rates low. Many factors that cause rate increases such as speeding and an unacceptable credit score can be amended by making lifestyle changes or driving safer. This article gives information to help keep rates affordable and get bigger discounts.
  2. Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or Farmers Insurance, while independent agents can quote rates from multiple insurance companies.
  3. Compare the new quotes to your existing rates and see if there is a cheaper rate in Colorado Springs. If you find a lower rate and switch companies, make sure coverage does not lapse between policies.
  4. Provide notification to your current agent or company to cancel your current car insurance policy and submit a down payment along with a completed application to the new company. Once coverage is bound, safely store the proof of insurance certificate in a readily accessible location in your vehicle.

The key thing to remember is to make sure you're comparing the same level of coverage on every price quote and and to analyze as many companies as feasibly possible. This ensures a fair price comparison and a complete rate analysis.

It's a known fact that auto insurance companies want to keep you from comparing rates. People who shop around are highly likely to buy a new policy because they stand a good chance of finding a policy with more affordable rates. A survey found that people who faithfully checked for cheaper rates saved an average of $865 annually compared to those who never shopped for cheaper rates.

If finding the most affordable car insurance is your target objective, then learning a little about how to find and compare cheaper coverage can help simplify the process.

How to buy Mazda Tribute insurance in Colorado Springs

Getting more affordable car insurance pricing is actually easier than you may think. You just have to take time comparing rates online with multiple companies.

Getting free rate quotes online is quite simple, and it makes it a waste of time to go to different Colorado Springs agent offices. Quoting Mazda Tribute insurance online eliminates this option unless you require the advice and guidance only provided by licensed Colorado Springs agents. Although you can compare online quotes but buy from a local insurance agent.

The following companies provide free rate quotes in Colorado. To buy the best auto insurance in Colorado, we recommend you click on several of them to get the best price comparison.

Statistics and details

The coverage table shown next highlights detailed analysis of coverage prices for Mazda Tribute models. Having knowledge of how auto insurance prices are calculated helps drivers make decisions when choosing a new policy provider.

Mazda Tribute Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tribute I Sport 2WD $184 $416 $388 $22 $116 $1,126 $94
Tribute I Sport 4WD $184 $416 $388 $22 $116 $1,126 $94
Tribute I Touring 2WD $184 $416 $388 $22 $116 $1,126 $94
Tribute I Grand Touring 2WD $212 $416 $388 $22 $116 $1,154 $96
Tribute I Touring 4WD $212 $416 $388 $22 $116 $1,154 $96
Tribute I Grand Touring 4WD $212 $492 $388 $22 $116 $1,230 $103
Tribute S Grand Touring 2WD $212 $492 $388 $22 $116 $1,230 $103
Tribute S Grand Touring 4WD $212 $492 $388 $22 $116 $1,230 $103
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Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Table data does not factor in garaging location in Colorado Springs which can raise or lower coverage prices greatly.

Physical damage deductible comparison

One frequently asked question is how high should the deductibles for physical damage be. The premium rates below sum up the cost difference between low and high coverage deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second pricing table uses a $1,000 deductible.

Mazda Tribute insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tribute I Sport 2WD $264 $546 $298 $18 $90 $1,241 $103
Tribute I Sport 4WD $264 $546 $298 $18 $90 $1,241 $103
Tribute I Touring 2WD $264 $546 $298 $18 $90 $1,241 $103
Tribute I Grand Touring 2WD $302 $546 $298 $18 $90 $1,279 $107
Tribute I Touring 4WD $302 $546 $298 $18 $90 $1,279 $107
Tribute I Grand Touring 4WD $302 $644 $298 $18 $90 $1,377 $115
Tribute S Grand Touring 2WD $302 $644 $298 $18 $90 $1,377 $115
Tribute S Grand Touring 4WD $302 $644 $298 $18 $90 $1,377 $115
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Mazda Tribute insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tribute I Sport 2WD $146 $288 $298 $18 $90 $840 $70
Tribute I Sport 4WD $146 $288 $298 $18 $90 $840 $70
Tribute I Touring 2WD $146 $288 $298 $18 $90 $840 $70
Tribute I Grand Touring 2WD $168 $288 $298 $18 $90 $862 $72
Tribute I Touring 4WD $168 $288 $298 $18 $90 $862 $72
Tribute I Grand Touring 4WD $168 $340 $298 $18 $90 $914 $76
Tribute S Grand Touring 2WD $168 $340 $298 $18 $90 $914 $76
Tribute S Grand Touring 4WD $168 $340 $298 $18 $90 $914 $76
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Table data does not factor in vehicle location which can affect premiums greatly.

Using the premium rates above, we can conclude that using a $100 deductible costs an average of $36 more each month or $432 for a full year across all Mazda Tribute models than choosing the higher $1,000 deductible. Because you would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 25 months between claims, you would most likely save money if you opt for a higher deductible. The table below shows the way this decision is made.

Average monthly premium for $100 deductibles: $109
Average monthly premium for $1,000 deductibles (subtract): - $73
Monthly savings from raising deductible: $36
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $36
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

One big caveat is that raising deductibles to get cheaper rates means you will have to pay more if you have a claim. It will be required that you have a higher level of savings in the event you need to pay more for the deductible.

The chart below shows how different deductible levels and can raise or lower Mazda Tribute annual premium costs for different insured age categories. The premiums assume a married male driver, full coverage, and no other discounts are factored in.

Impact of careless driving on Colorado Springs insurance rates

The illustration below shows how violations and at-fault fender-benders drive up Mazda Tribute auto insurance rates for different age groups. The premiums assume a single male driver, comp and collision included, $100 deductibles, and no policy discounts are applied.

Gender-based insurance rates

The example below shows the difference between Mazda Tribute insurance premiums for male and female drivers. The prices are based on no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, marital status is single, and no discounts are taken into consideration.

Mazda Tribute liability rates compared to full coverage

The example below illustrates the difference between Mazda Tribute car insurance rates with liability coverage only compared to full coverage. The premiums are based on no violations or accidents, $100 deductibles, marital status is single, and no discounts are taken into consideration.

Guidelines for dropping full coverage

There is no set guideline to stop paying for physical damage insurance, but there is a general school of thought. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let's say your Mazda Tribute replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after the policy deductible has been paid. If it's costing you more than $300 annually for full coverage, then it could be time to drop full coverage.

There are a few situations where removing full coverage is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not drop full coverage.

Get Lower-cost Insurance Rates by Understanding These Factors

Consumers need to have an understanding of some of the things that go into determining your policy premiums. When consumers understand what determines base rates, this enables informed choices that will entitle you to better car insurance rates.

The following are some of the items used by companies to determine rates.

  • Impacts performance impacts auto insurance costs - The performance of the car, truck or SUV you need to insure makes a huge difference in how high your rates are. The lowest rates are generally reserved for lower cost passenger models, but there are many factors that impact the final cost.

    The data below uses these variables: married male driver age 40, full coverage with $250 deductibles, and no discounts or violations. The chart compares Mazda Tribute policy rates compared to other models of vehicles that have different performance risks.

  • Liability is critical - Liability insurance is the coverage that protects you if a jury decides you are liable for causing personal injury or damage in an accident. Liability provides legal defense coverage to defend your case. This coverage is relatively inexpensive compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.
  • Getting married can lower costs - Getting married may save some money on your policy. Having a spouse is viewed as being more responsible and statistics show married drivers get in fewer accidents.
  • Costs increase with policy add-ons - There are a ton of optional add-on coverages that you can buy but may not be useful. Coverage for things like rental car coverage, accident forgiveness, and Farm Bureau memberships may be wasting your money. They may seem good when you first buy your policy, but if they're wasting money consider taking them off your policy.
  • Vehicle theft costs us all - Choosing a vehicle with advanced anti-theft systems can get you a discount on your car insurance. Theft deterrent systems such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system can help prevent auto theft.
  • When should you file claims? - If you're an insured who likes to file claims don't be surprised to see either a policy non-renewal or much higher rates. Insurance companies in Colorado award cheaper rates to insureds that do not abuse their auto insurance. Auto insurance is intended for the large, substantial claims.
  • Save by driving vehicles with better crash test results - Safer cars can get you lower premiums. Safe vehicles have better occupant injury protection and better occupant protection means less money paid by your insurance company which can result in lower premiums. If your Mazda scored better than four stars on Safercar.gov you may qualify for a discount.
  • Where you live is a factor - Having an address in less populated areas has definite advantages when shopping for auto insurance. Drivers who live in large cities regularly have traffic congestion and a longer drive to work. Less people living in that area translates into fewer accidents in addition to lower liability claims.

Why you need insurance for your Mazda Tribute

Despite the fact that insurance is not cheap in Colorado Springs, insurance is required in Colorado but it also protects you in many ways.

  • The majority of states have minimum liability requirements which means state laws require a specific minimum amount of liability insurance coverage in order to license the vehicle. 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 bought your Mazda Tribute with a loan, most banks will make it mandatory that you have insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your Mazda at a significantly higher premium and force you to pay the higher premium.
  • Insurance protects both your assets and your vehicle. It will also pay for many types of medical costs for you, any passengers, and anyone injured in an accident. Liability insurance also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your Mazda gets damaged, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.

The benefits of carrying adequate insurance are definitely more than the cost, especially if you ever need it. The average driver in Colorado overpays as much as $810 a year so it's important to compare rates at every renewal to ensure rates are inline.