It’s an obvious conclusion that insurance companies don’t want you shop around. Drivers who compare rates at least once a year are inclined to switch companies because they stand a good chance of finding coverage at a more affordable price. A recent insurance study revealed that people who compared rates regularly saved as much as $3,400 over four years as compared to drivers who never compared rates.
If finding the cheapest price on insurance is the reason you’re reading this, knowing how to find companies and compare insurance can make it easier for you to save money.
If you want to save money, the best way to find cheaper prices for auto insurance rates in Colorado Springs is to start doing an annual price comparison from insurance carriers who provide car insurance in Colorado. Prices can be compared by following these steps.
- First, learn about coverages and the things you can change to lower rates. Many things that cause high rates such as speeding tickets, careless driving and a less-than-favorable credit history can be improved by improving your driving habits or financial responsibility. This article provides ideas to find cheap prices and get discounts that may be overlooked.
- Second, compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can give quotes from one company like GEICO or State Farm, while agents who are independent can provide price quotes from many different companies.
- Third, compare the new rate quotes to your existing policy and determine if there is any savings. If you can save money and decide to switch, make sure there is no coverage gap between policies.
A good tip to remember is to use similar limits and deductibles on each quote and and to look at as many companies as possible. This provides a fair price comparison and a complete rate analysis.
All major insurance companies allow you to get price estimates directly from their websites. The process is very simple as you just type in the amount of coverage you want into the form. When the form is submitted, their system collects credit information and your driving record and returns a price quote. This streamlines rate comparisons, and it’s absolutely necessary to compare as many rates as possible if you are searching for a lower rate.
To compare rates using this form now, compare rates from the companies below. If you have your current policy handy, we recommend you copy the coverage information as shown on your current policy. This way, you will receive comparison quotes based on identical coverages.
The companies in the list below can provide comparison quotes in Colorado. To buy the best cheap auto insurance in CO, it’s highly recommended you visit as many as you can to get the best price comparison.
Auto insurance just makes sense
Even though it can be expensive, insuring your vehicle is a good idea for several reasons.
- Most states have mandatory liability insurance requirements which means the state requires a specific level of liability 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 bought your vehicle with a loan, it’s most likely the lender will force you to buy full coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the lender may insure your Lexus for a much higher rate and force you to pay much more than you were paying before.
- Auto insurance preserves not only your Lexus RC F but also your financial assets. It also can pay for medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your Lexus gets damaged, comprehensive and/or collision insurance will cover the repair costs.
The benefits of buying enough insurance definitely exceed the price paid, particularly when you have a large claim. Today the average American driver is overpaying more than $865 each year so you should quote rates at every policy renewal to ensure rates are inline.
Eight Things That Determine Your Insurance Prices
When buying insurance it’s important to understand the different types of things that go into determining insurance rates. If you know what controls the rates you pay, this empowers consumers to make smart changes that will entitle you to lower premium levels.
Too many insurance claims drive up rates – If you tend to file frequent claims, you shouldn’t be surprised to get much higher rates or policy non-renewal. Car insurance companies in Colorado award most affordable rates to policyholders who only file infrequent claims. Insurance coverage is intended for the large, substantial claims.
Save mileage and save money – Driving a lot of miles each year the higher your rates will be. A lot of companies price each vehicle’s coverage based upon how much you drive. Autos not used for work or commuting cost less to insure than vehicles that have high annual mileage. An incorrectly rated RC F may be costing you higher rates. It’s always a good idea to double check that your insurance policy states the correct usage for each vehicle.
Drivers with high credit save on insurance – Credit score is a big factor in determining what you pay for insurance. People with high credit ratings tend to file fewer claims and have better driving records than drivers who have poor credit scores. If your credit is lower than you’d like, you could save money insuring your Lexus RC F by repairing your credit.
Discounts for married drivers – Your spouse helps lower the price compared to being single. Having a spouse generally demonstrates drivers are less irresponsible and statistics prove drivers who are married are more cautious.
Safer vehicles cost less to insure – Safe vehicles can get you lower premiums. Vehicles engineered for safety reduce occupant injuries and fewer serious injuries translates directly to fewer claims which can result in lower premiums.
Incidental coverages may not be needed – Policies have additional extra coverages that may not really be needed on your RC F policy. Coverages for vanishing deductibles, high-cost glass coverage, and term life insurance are examples of these. They may seem like a good idea when discussing your needs, but if you’ve never needed them in the past eliminate them to save money.
Liability protection claims can be big – Liability insurance kicks in when a court rules you are at fault for physical damage or personal injury to other. It will provide legal defense coverage to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so insureds should have plenty of protection for their assets.
What type of car, truck or SUV do you drive? – The make and model of the vehicle you drive makes a big difference in your rates. The cheapest insurance rates are for the lowest performance passenger models, but the cost you end up paying is determined by many additional factors.
Car insurance policy discounts for Lexus RC F insurance in Colorado Springs
Some companies don’t necessarily list every discount available very clearly, so the list below gives a summary of a few of the more common and also the lesser-known discounts that you can inquire about if you buy Colorado Springs auto insurance online.
- Low Mileage – Low annual miles may allow you to get lower car insurance rates due to less chance of an accident.
- E-sign Discounts – A handful of companies will discount your bill up to fifty bucks for completing your application on the internet.
- Military Discounts – Being on active duty in the military can result in better premium rates.
- Cautious Driver Discounts – Safe drivers may receive a discount up to 45% than drivers with accident claims.
- ABS Braking Discount – Vehicles with anti-lock braking systems can reduce accidents so you can save 10 percent or more.
- Discount for Multiple Policies – If you have multiple policies and insure them both with the same insurance company you may save up to 20% and get you affordable Lexus RC F insurance rates in Colorado Springs.
- Life Insurance – Select insurance companies reward you with a small discount if you purchase some life insurance in addition to your auto policy.
- Driver Training Discounts – Taking time to complete a driver safety course could save 5% or more depending on where you live.
- Driver Education Discount – Teen drivers should enroll in driver’s education in high school.
Policy discounts save money, but most of the big mark downs will not be given to the entire cost. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So even though they make it sound like you would end up receiving a 100% discount, companies don’t profit that way. Any amount of discount will positively reduce your premiums.
A list of car insurance companies and a selection of discounts include:
- GEICO policyholders can earn discounts including driver training, military active duty, defensive driver, daytime running lights, anti-lock brakes, anti-theft, and air bags.
- Travelers includes discounts for new car, driver training, hybrid/electric vehicle, payment discounts, multi-policy, and continuous insurance.
- Nationwide offers premium reductions for defensive driving, Farm Bureau membership, business or organization, family plan, and anti-theft.
- Farmers Insurance has savings for bundle discounts, pay in full, youthful driver, distant student, good student, and business and professional.
- Esurance has discounts for Switch & Save, good student, online shopper, good driver, paid-in-full, and multi-policy.
- State Farm offers discounts for good student, Steer Clear safe driver discount, student away at school, safe vehicle, and accident-free.
- Progressive offers discounts including continuous coverage, multi-vehicle, online signing, good student, multi-policy, and online quote discount.
- Mercury Insurance may offer discounts for good student, age of vehicle, low natural disaster claims, multi-car, and good driver.
Before buying, ask all the companies what discounts are available to you. A few discounts may not apply in Colorado Springs. If you would like to view insurers with the best discounts in Colorado, click here to view.
When in doubt talk to an agent
When quoting and comparing adequate coverage for your personal vehicles, there isn’t really a one size fits all plan. Every situation is different and a cookie cutter policy won’t apply.
These are some specific questions can help discover if your insurance needs would benefit from an agent’s advice.
- Does coverage follow the driver or the vehicle?
- What are the liability requirements in my state?
- How can I get high-risk coverage after a DUI?
- Does my policy pay for OEM or aftermarket parts?
- Do I get a pro-rated refund if I cancel my policy early?
- How long can I keep a teen driver on my policy?
- Why am I required to buy high-risk coverage?
- What discounts do I qualify for?
- Am I covered when pulling a rental trailer?
If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.
Local Colorado Springs car insurance agents
Certain consumers still prefer to buy from a licensed agent and doing that can be a smart decision Professional insurance agents will help you protect your assets and help file insurance claims. The best thing about price shopping on the web is you may find lower rates and still have a local agent.
After filling out this simple form, your coverage information is immediately sent to companies in Colorado Springs who want to provide quotes to get your business. There is no reason to even leave your home since rate quotes are delivered to the email address you provide. If for some reason you want to compare rates from a specific insurance company, just search and find their rate quote page and fill out their quote form.
Finding the right provider needs to be determined by more than just the quoted price. Here are some questions you should ask.
- Are there any extra charges for paying monthly?
- Is the agency covered by Errors and Omissions coverage?
- Will they take your side in the event of a claim?
- What companies can they write with?
- Will you work with the agent or an assistant?
- What company do they have the most business with?
- Who are their largest clients?
If you are searching for a reliable insurance agent, you should know the different agency structures from which to choose. Agents can either be exclusive or independent agents depending on their company appointments. Both types of agents can do a good job, but it’s good to learn the differences because it can factor into your selection of an agent.
Exclusive Insurance Agencies
Agents that elect to be exclusive can only place business with one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. They usually cannot provide prices from multiple companies so keep that in mind. These agents are well trained on sales techniques and that can be a competitive advantage.
Listed below are Colorado Springs exclusive insurance agents willing to provide rate quotes.
Larry Lucero – State Farm Insurance Agent
5225 Academy Blvd N #108 – Colorado Springs, CO 80918 – (719) 599-8661 – View Map
Independent Insurance Agents
Independent agencies are not locked into one company so they can quote policies with any number of different companies and find you the best rates. If they quote lower rates, the agent simply finds a different carrier and you don’t have to do anything. If you are comparing rate quotes, it’s recommended you compare prices from at least one independent agent to have the most options to choose from.
Shown below are independent agents in Colorado Springs who can help you get comparison quotes.
Don’t give up on affordable rates
We just covered quite a bit of information on how to compare Lexus RC F insurance premium rates in Colorado Springs. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Drivers may even discover the lowest premium rates come from a company that doesn’t do a lot of advertising. Smaller companies often have lower prices on specific markets than the large multi-state companies such as State Farm or Progressive.
While you’re price shopping online, don’t be tempted to skimp on coverage in order to save money. There have been many situations where consumers will sacrifice physical damage coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The goal is to purchase plenty of coverage for the lowest cost while not skimping on critical coverages.
To read more, feel free to visit the following helpful articles:
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Who Has Cheap Car Insurance Rates for 4×4 Vehicles in Colorado Springs? (FAQ)
- Who Has the Cheapest Colorado Springs Car Insurance Quotes for High Mileage Drivers? (FAQ)
- What is the Cheapest Auto Insurance in Colorado? (FAQ)
- How Much are Colorado Springs Auto Insurance Quotes for a Toyota Camry? (FAQ)
- Auto Crash Statistics (Insurance Information Institute)
- Liability Insurance Coverage (Nationwide)
- What is a Telematics Device? (Allstate)