Cheapest Subaru Impreza Insurance in Colorado Springs

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Insurance for Subaru ImprezaIf you want to save money, the best way to find low-cost prices for car insurance rates in Colorado Springs is to start doing an annual price comparison from companies who provide car insurance in Colorado. Prices can be compared by following these steps.

  • Step 1: Gain an understanding of the coverage provided by your policy and the changes you can make to keep rates in check. Many policy risk factors that drive up the price like at-fault accidents, careless driving, and a bad credit score can be remedied by making minor driving habit or lifestyle changes.
  • Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from one company like Progressive or Farmers Insurance, while independent agents can provide price quotes from multiple insurance companies. Compare rates
  • Step 3: Compare the new rates to your existing rates to see if a cheaper rate is available in Colorado Springs. If you find a lower rate and change companies, make sure there is no coverage gap between policies.
  • Step 4: Tell your current agent or company to cancel your current coverage. Submit a down payment and signed policy application to the new insurer. Make sure you place your new certificate verifying proof of insurance in your glove compartment.

An important bit of advice to remember is that you'll want to compare similar deductibles and liability limits on each quote request and and to look at as many companies as you can. This enables a level playing field and a complete rate analysis.

Astonishing but true according to a recent study, the vast majority of auto insurance customers in Colorado have been with the same company for at least four years, and approximately 40% of consumers have never quoted auto insurance rates at all. With the average premium in the U.S. being $1,847, drivers could save $859 each year just by getting comparison quotes, but they underestimate the amount of savings they would get if they changed companies.

Buying the cheapest insurance in Colorado Springs is really quite easy. Essentially anyone who is overpaying for insurance will find lower prices. Although Colorado consumers should learn the way insurance companies determine what you pay and use this information to your advantage.

Colorado Springs car insurance discounts

Companies that sell car insurance do not list every available discount very well, so we researched both the well known and the harder-to-find credits that you can use to lower your rates.

  • Defensive Driver Discounts - Successfully completing a safe driver course could earn you a small percentage discount depending on where you live.
  • Colorado Springs Homeowners Pay Less - Owning a house in Colorado Springs may earn you a small savings since owning and maintaining a home requires a higher level of personal finance.
  • Save with More Vehicles Insured - Insuring several vehicles on the same car insurance policy can reduce rates for all insured vehicles.
  • Sign Online - A few larger online companies provide a small discount simply for signing digitally online.
  • Club Memberships - Belonging to qualifying employment or professional organizations is a simple method to lower premiums on your bill.
  • Passenger Safety Discount - Vehicles equipped with air bags or automatic seat belts may get savings of 20 to 30 percent.
  • Save over 55 - If you qualify as a senior citizen, you can get a slight reduction on a Colorado Springs auto insurance quote.
  • Accident Waiver - This isn't a discount exactly, but a few companies such as Liberty Mutual, Allstate and State Farm will turn a blind eye to one accident without raising rates as long as you don't have any claims prior to the accident.
  • Driver's Education for Students - Reduce the cost of insurance for teen drivers by having them take driver's ed class in school.

Discounts save money, but please remember that most discounts do not apply to the entire policy premium. The majority will only reduce specific coverage prices like medical payments or collision. Just because it seems like all those discounts means the company will pay you, car insurance companies aren't that generous.

The illustration below illustrates the difference between Subaru Impreza insurance rates with and without discounts applied to the rates. The rate quotes are based on a female driver, a clean driving record, no claims, Colorado state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, multi-policy, claim-free, safe-driver, and homeowner discounts applied.

A few of the larger companies and some of their more popular discounts are detailed below.

  • Farmers Insurance discounts include multi-car, youthful driver, distant student, switch companies, and good student.
  • State Farm policyholders can earn discounts including defensive driving training, accident-free, driver's education, safe vehicle, anti-theft, and passive restraint.
  • Liberty Mutual may include discounts for good student, new vehicle discount, teen driver discount, new graduate, hybrid vehicle, newly married, and safety features.
  • MetLife offers discounts including good driver, accident-free, good student, defensive driver, and multi-policy.
  • Progressive includes discounts for good student, homeowner, multi-vehicle, online signing, and continuous coverage.

When getting free Colorado Springs auto insurance quotes, it's a good idea to all the companies how many discounts you can get. Some discounts listed above may not apply to policyholders in your area.

The most recommended method to compare car insurance company rates for Subaru Impreza insurance in Colorado Springs is to know the fact most of the bigger providers provide online access to provide you with a free rate quote. The only thing you need to do is provide information like which vehicles you own, coverage limits, your job, and if you're married. Those rating factors is then sent to insurance companies and they respond with quotes immediately.

If you wish to get multiple quotes for your Subaru Impreza now, click here then complete the form.

The companies in the list below are our best choices to provide free quotes in Colorado Springs, CO. If multiple companies are listed, it's a good idea that you visit several of them in order to find the lowest rates.

Subaru Impreza detailed coverage information

The premium information below covers a range of insurance coverage prices for Subaru Impreza models. Having a better understanding of how insurance premiums are calculated can be useful when making smart buying decisions.

Subaru Impreza Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impreza 2.5I 4WD Station Wagon $162 $232 $358 $22 $108 $882 $74
Impreza 2.5I 4WD Station Wagon $162 $232 $358 $22 $108 $882 $74
Impreza Outback Sport 4WD Station Wagon $162 $282 $358 $22 $108 $932 $78
Impreza 2.5I AWD 4-Dr $184 $282 $358 $22 $108 $954 $80
Impreza 2.5I Premium Package AWD 4-Dr $184 $332 $358 $22 $108 $1,004 $84
Impreza WRX 4WD Station Wagon $184 $332 $358 $22 $108 $1,004 $84
Impreza 2.5 GT 4WD Station Wagon $204 $332 $358 $22 $108 $1,024 $85
Impreza WRX AWD 4-Dr $204 $382 $358 $22 $108 $1,074 $90
Impreza 2.5I GT AWD 4-Dr $204 $382 $358 $22 $108 $1,074 $90
Impreza WRX STI 4WD Station Wagon $204 $382 $358 $22 $108 $1,074 $90
Get Your Own Custom Quote Go

Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Price estimates do not factor in garaging location in Colorado Springs which can modify auto insurance rates significantly.

Deductible analysis

When comparing insurance rates, the most common question is how high should the deductibles for physical damage be. The figures shown below may help to illustrate the premium difference between low and high insurance deductibles. The first data table uses a $250 deductible for comp and collision and the second price grid uses a $1,000 deductible.

Subaru Impreza insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impreza 2.5I 4WD Station Wagon $272 $376 $352 $20 $106 $1,151 $96
Impreza 2.5I 4WD Station Wagon $272 $376 $352 $20 $106 $1,151 $96
Impreza Outback Sport 4WD Station Wagon $272 $458 $352 $20 $106 $1,233 $103
Impreza 2.5I AWD 4-Dr $306 $458 $352 $20 $106 $1,267 $106
Impreza 2.5I Premium Package AWD 4-Dr $306 $538 $352 $20 $106 $1,347 $112
Impreza WRX 4WD Station Wagon $306 $538 $352 $20 $106 $1,347 $112
Impreza 2.5 GT 4WD Station Wagon $342 $538 $352 $20 $106 $1,383 $115
Impreza WRX AWD 4-Dr $342 $620 $352 $20 $106 $1,465 $122
Impreza 2.5I GT AWD 4-Dr $342 $620 $352 $20 $106 $1,465 $122
Impreza WRX STI 4WD Station Wagon $342 $620 $352 $20 $106 $1,465 $122
Get Your Own Custom Quote Go
Subaru Impreza insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impreza 2.5I 4WD Station Wagon $168 $236 $352 $20 $106 $882 $74
Impreza 2.5I 4WD Station Wagon $168 $236 $352 $20 $106 $882 $74
Impreza Outback Sport 4WD Station Wagon $168 $288 $352 $20 $106 $934 $78
Impreza 2.5I AWD 4-Dr $190 $288 $352 $20 $106 $956 $80
Impreza 2.5I Premium Package AWD 4-Dr $190 $340 $352 $20 $106 $1,008 $84
Impreza WRX 4WD Station Wagon $190 $340 $352 $20 $106 $1,008 $84
Impreza 2.5 GT 4WD Station Wagon $210 $340 $352 $20 $106 $1,028 $86
Impreza WRX AWD 4-Dr $210 $390 $352 $20 $106 $1,078 $90
Impreza 2.5I GT AWD 4-Dr $210 $390 $352 $20 $106 $1,078 $90
Impreza WRX STI 4WD Station Wagon $210 $390 $352 $20 $106 $1,078 $90
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price information does not factor in specific zip code location which can raise or lower auto insurance rates significantly.

We can estimate from the data above that using a $250 deductible costs about $28 more each month or $336 a year than requesting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go at a minimum 27 months between claims, you would save more money if you elect the higher deductible. The table below shows how this decision is made.

Average monthly premium for $250 deductibles: $111
Average monthly premium for $1,000 deductibles (subtract): - $83
Monthly savings from raising deductible: $28
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 27 months

How violations and accidents impact rates

The diagram below illustrates how speeding tickets and fender-benders can raise Subaru Impreza insurance costs for different insured age categories. The premiums assume a single female driver, full coverage, $100 deductibles, and no additional discounts are factored in.

Insurance prices based on gender

The chart below shows the comparison of Subaru Impreza car insurance rates for male and female drivers. Data assumes a clean driving record, no claims, comp and collision included, $1,000 deductibles, single status, and no discounts are applied.

How much more does full coverage cost?

The example below visualizes the comparison of Subaru Impreza annual premium costs with and without full coverage. The data is based on no accidents or driving violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.

When to stop buying full coverage

There is no definitive guideline of when to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.

For example, let's pretend your Subaru Impreza settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after paying the physical damage deductible. If you are paying in excess of $800 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some circumstances where removing full coverage is not advised. If you still have a loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

The Subaru Impreza Insurance Rate Equation

When buying car insurance it's important to understand the different types of things that come into play when calculating the level of your policy premiums. When consumers understand what determines premiums, this helps enable you to make changes that may reward you with lower premium levels.

Your job and car insurance rates - Occupations like military personnel, business owners, and dentists generally pay higher premiums than the average policyholder in part from high stress levels and lengthy work days. Conversely, professions such as scientists, engineers and the unemployed pay lower than average rates.

Multiple policies with one company can save - Lots of insurance companies afford lower prices to insureds who buy several policies from them, otherwise known as a multi-policy discount. Even with this discount applied, consumers should still shop around to confirm you are receiving the best rates possible. It's possible to still find lower rates by splitting coverages up.

Eliminate unneeded add-on coverages - Policies have extra coverages that you can buy when buying car insurance. Coverages for replacement cost coverage, towing coverage, and motor club memberships are some examples. These coverages may sound good at first, but if you have no use for them remove them from your policy.

Your address can push rates up or down - Having an address in small towns and rural areas is a positive aspect when shopping for auto insurance. Fewer drivers and short commutes means less chance of accidents in addition to lower liability claims. Drivers in populated Colorado areas tend to have more aggressive driving styles and longer commute times. More time behind the wheel can result in more accidents.

Excellent credit means lower prices - Having a bad credit score is a large factor in determining what you pay. If your credit score is low, you could be paying less to insure your Subaru Impreza by spending a little time repairing your credit. Insureds with excellent credit scores tend to file fewer claims as compared to drivers with lower credit ratings.

Cheaper rates for being claim-free - Auto insurance companies in Colorado give the lowest premiums to people who file claims infrequently. If you are a frequent claim filer, you can pretty much guarantee higher rates. Auto insurance is meant to be used in the event of major claims that would cause financial hardship.

Type of car determines base prices - The make and model of the vehicle you are trying to find cheaper insurance for makes a substantial difference in your rates. The lowest performance passenger cars generally have the cheapest insurance rates, but your final cost has many other factors.

The chart below uses these assumptions: married male driver age 40, full coverage with $100 deductibles, and no discounts or violations. The chart compares Subaru Impreza insurance rates compared to other vehicles that have different performances.

High deductibles lower premiums - Physical damage deductibles are how much you are required to spend out-of-pocket in the event of a claim. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some examples of covered claims could be a windshield broken by a bird, collision with a deer, or theft of your vehicle. The higher the amount the insured has to pay upfront, the lower your rates will be.

Insurance loss probability for a Subaru Impreza - Companies use data from past claims when they file their rates in each state. Models that have increased losses will have a higher cost to insure.

The data below shows the compiled insurance loss statistics for Subaru Impreza vehicles. For each policy coverage, the loss probability for all vehicles, regardless of make, model or trim level, is set at 100. Numbers that are below 100 mean the vehicle has better than average losses, while numbers shown that are more than 100 indicate more frequent losses or statistically larger losses.

Car Insurance Loss Data for Subaru Impreza Models
Specific Subaru Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Subaru Impreza 4WD 96 80 110 79 78 81
BETTER
AVERAGE
WORSE

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

When should I discuss my situation with an agent?

Keep in mind that when it comes to choosing coverage, there isn't really a cookie cutter policy. You are unique and your policy should reflect that. For instance, these questions might point out whether or not you might need professional guidance.

  • Can I afford to buy a different vehicle if my Subaru Impreza is totaled?
  • Are there any extra discounts I can get?
  • What does UM/UIM cover?
  • When would I need rental car insurance?
  • Is my nanny covered when driving my vehicle?
  • When should I remove comp and collision on my Subaru Impreza?
  • Does my insurance cover damage caused when ticketed for reckless driving?

If you don't know the answers to these questions then you might want to talk to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.

Can't I get rate quotes from local Colorado Springs insurance agencies?

Some people still prefer to get advice from a local agent and there is nothing wrong with that. One of the best bonuses of getting online price quotes is the fact that drivers can get cheaper rates and also buy local.

Colorado Springs insurance agentsTo make it easy to find an agent, after completing this simple form, your coverage information is emailed to companies in Colorado Springs who will return price quotes to get your business. You never need to find an agent on your own since price quotes are sent to you directly. You can get cheaper insurance rates without requiring a lot of work. If you have a need to get a rate quote for a specific company, just search and find their rate quote page and give them your coverage information.

Finding the right company is decision based upon more than just a cheap price quote. Here are some questions you should ask.

  • Do they make recommendations based only on price?
  • Are all drivers listed on the coverage quote?
  • Will one accident increase rates?
  • Do they get extra compensation for selling add-on coverages?
  • Do they have a Better Business Bureau rating in Colorado Springs?
  • By raising physical damage deductibles, how much would you save?
  • Did they already check your driving record and credit reports?
  • Will you work with the agent or an assistant?

If you need to find a reliable agent, it can be helpful to understand the different agency structures and how they work. Insurance agents can be described as either independent agents or exclusive agents.

Exclusive Agents

These agents can only place business with one company such as Farmers Insurance or State Farm. These agents are unable to provide prices from multiple companies so you might not find the best rates. Exclusive insurance agents are usually quite knowledgeable on what they offer which helps them sell insurance even at higher premiums. Some insured continue to use the same exclusive agent partially due to high brand loyalty rather than low price.

The following is a list of exclusive agencies in Colorado Springs that can give you price quotes.

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Independent Insurance Agents

Independent insurance agents can sell policies from many different companies and that gives them the ability to insure with an assortment of companies and potentially find a lower price. If prices rise, they simply move the coverage in-house and you don't have to do anything. When comparison shopping, it's recommended you include a couple of independent agencies for maximum quote selection. Most also write with lesser-known insurance companies which could offer lower prices.

The following is a list of independent insurance agents in Colorado Springs who can help you get comparison quotes.

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Why you need to buy car insurance

Despite the potentially high cost of Subaru Impreza insurance, paying for car insurance is a good idea for several reasons.

  • Just about all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability if you drive a 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 your Impreza has a loan, almost every bank will stipulate that you have physical damage coverage to guarantee loan repayment. If you let the policy lapse, the lender may insure your Subaru at a much higher rate and require you to pay for the expensive policy.
  • Car insurance preserves both your Subaru and your assets. It will also pay for all forms of medical expenses that are the result of an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of carrying enough insurance more than offset the price you pay, especially with large liability claims. Despite what companies tell you, the average driver is currently overpaying as much as $865 each year so it's very important to do a rate comparison at every policy renewal to ensure rates are competitive.

Cheap auto insurance rates are out there

When trying to cut insurance costs, don't be tempted to sacrifice coverage to reduce premiums. In many cases, consumers will sacrifice liability limits or collision coverage to discover at claim time that the small savings ended up costing them much more. Your goal should be to buy the best coverage you can find at a price you can afford, but don't skip important coverages to save money.

Cheaper Subaru Impreza insurance in Colorado Springs can be bought online and with local Colorado Springs insurance agents, and you should compare rates from both so you have a total pricing picture. Some companies may not provide online quoting and most of the time these smaller companies only sell coverage through independent agents.

Additional detailed information is available at these sites: