The preferred way to save money on car insurance rates in Colorado Springs is to start comparing prices yearly from different companies who provide car insurance in Colorado.
- First, read and learn about how auto insurance works and the modifications you can make to prevent high rates. Many rating factors that result in higher rates like speeding tickets, careless driving and an unacceptable credit history can be improved by making small lifestyle or driving habit changes. Later in this article we will cover more details to prevent high prices and get bigger discounts that may have been overlooked.
- Second, get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like GEICO or State Farm, while agents who are independent can quote rates from multiple companies.
- Third, compare the quotes to the price on your current policy to see if you can save by switching companies. If you can save money, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, provide notification to your current company to cancel your current auto insurance policy and submit a down payment and signed policy application for the new policy. As soon as you receive it, place your new proof of insurance paperwork somewhere easily accessible.
A tip to remember is to use the same physical damage deductibles and liability limits on each price quote and and to get price estimates from as many companies as feasibly possible. Doing this guarantees the most accurate price comparison and a better comparison of the market.
Anyone knows that car insurance companies want to keep you from comparing prices. Consumers who shop around for cheaper rates will, in all likelihood, switch auto insurance companies because they stand a good chance of finding coverage at a more affordable price. A survey found that consumers who routinely compared quotes saved as much as $850 each year as compared to drivers who never compared prices.
If finding the cheapest price for auto insurance is why you’re here, then knowing how to compare coverage rates can help you succeed in saving money.
The providers in the list below can provide price comparisons in Colorado. To find cheap car insurance in CO, it’s highly recommended you click on several of them to get the best price comparison.
Auto insurance statistics and figures
The premium information displayed next showcases a range of insurance premium costs for Nissan Armada models. Having a better understanding of how insurance quotes are formulated can help drivers make smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Armada SE 2WD||$214||$380||$338||$20||$102||$1,054||$88|
|Armada SE 4WD||$214||$448||$338||$20||$102||$1,122||$94|
|Armada Titanium 2WD||$214||$448||$338||$20||$102||$1,122||$94|
|Armada Titanium 4WD||$214||$448||$338||$20||$102||$1,122||$94|
|Armada Platinum 2WD||$214||$448||$338||$20||$102||$1,122||$94|
|Armada Platinum 4WD||$238||$448||$338||$20||$102||$1,146||$96|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in specific location which can influence coverage prices substantially.
The illustration below demonstrates how deductible levels and can affect Nissan Armada insurance costs for different insured age categories. The price estimates are based on a married female driver, comp and collision included, and no policy discounts are applied.
Rate comparison of male drivers versus female drivers
The illustration below shows the comparison of Nissan Armada insurance premiums for male and female drivers. The prices are based on no claims or driving citations, full physical damage coverage, $100 deductibles, drivers are single, and no discounts are applied to the premium.
Full coverage or liability only
The illustration below illustrates the difference between Nissan Armada yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The information is based on a clean driving record, no claims, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
Are you wasting money on full coverage?
There isn’t a written rule for excluding physical damage insurance, but there is a general convention. If the annual cost of coverage is more than 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s say your Nissan Armada replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $4,000 after you pay the deductible. If you are paying more than $400 annually for your policy with full coverage, then you may want to consider only buying liability coverage.
There are some cases where removing full coverage is not recommended. If you haven’t paid off your loan, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Your situation helps dictate your coverage
Keep in mind that when it comes to choosing the right insurance coverage for your vehicles, there is no one size fits all plan. Your needs are unique to you.
These are some specific questions could help you determine if your insurance needs could use an agent’s help.
- What are the liability requirements in my state?
- Am I covered when delivering products for my home-based business?
- If my pet gets injured in an accident are they covered?
- I have good health insurance, so how much medical payments coverage do I need?
- Do I need an umbrella policy?
- What discounts do I qualify for?
If you can’t answer these questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form. It is quick, free and may give you better protection.
Are insurance agents of importance?
A lot of people just prefer to visit with an insurance agent and that can be a great decision Agents can help you build your policy and help submit paperwork. A good thing about comparing auto insurance online is the fact that you can find cheaper rates and still have a local agent.
For easy comparison, once you complete this simple form, the quote information is sent to local insurance agents who will give you quotes for your insurance coverage. It makes it easy because there is no need to leave your computer because quoted prices will be sent directly to you. If you need to get a price quote for a specific company, feel free to go to their quote page to submit a rate quote request.
Picking the best insurance company requires more thought than just the price. You should also get answers to these questions.
- Which companies can they place coverage with?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Is vehicle damage repaired with OEM or aftermarket parts?
- How are claims handled?
- Does the agent recommend any additional coverage?