Toyota Avalon Insurance Rate Quotes in Colorado Springs

Insurance quote for Toyota Avalon in Colorado SpringsStatistics show that a large majority of drivers have stayed with the same insurance company for a minimum of four years, and 38% of drivers have never even shopped around for cheaper coverage. Colorado drivers could cut their rates by about $610 a year just by comparing rates, but most undervalue the large savings they would see if they switched.

If you want to save money, the best way to save on car insurance rates is to compare quotes once a year from insurance carriers who provide car insurance in Colorado Springs. Prices can be compared by following these guidelines.

  1. Learn about the coverage provided by your policy and the factors you can control to lower rates. Many rating factors that drive up the price such as traffic citations and a poor credit score can be remedied by making lifestyle changes or driving safer. Continue reading for more details to help prevent high rates and find missing discounts.
  2. Obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while agents who are independent can provide price quotes for many different companies.
  3. Compare the new rates to your existing policy and see if there is a cheaper rate in Colorado Springs. If you find a lower rate and switch companies, make sure coverage is continuous and does not lapse.
  4. Give notification to your agent or company of your intent to cancel the current policy and submit a completed policy application and payment to the new company. As soon as coverage is bound, put the certificate verifying proof of insurance in an easily accessible location.

The key aspect of shopping around is to use the same coverage limits and deductibles on each price quote and to quote with as many auto insurance providers as possible. This ensures a level playing field and the best price selection.

Locating the best insurance company for you in Colorado Springs is not rocket science. If you have coverage now or just want to save money, you can use this information to find better prices while maintaining coverages. Vehicle owners only need an understanding of the quickest way to compare rates online.

Coverage analysis

The premium information displayed next highlights estimates of insurance premium costs for Toyota Avalon models. Having a better idea how premiums are formulated can be of help when making smart buying decisions.

Toyota Avalon Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Avalon XL $250 $368 $298 $18 $90 $1,024 $85
Avalon XLS $250 $434 $298 $18 $90 $1,090 $91
Avalon Limited $278 $434 $298 $18 $90 $1,118 $93
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Information does not factor in the specific area where the vehicle is garaged which can impact prices considerably.

Auto insurance deductibles

One of the most common auto insurance questions is where to set your physical damage deductibles. The premium rates below highlight the rate difference of buying low and high policy deductibles. The first price estimate table uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.

Toyota Avalon insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Avalon XL $342 $546 $298 $18 $90 $1,319 $110
Avalon XLS $342 $644 $298 $18 $90 $1,417 $118
Avalon Limited $380 $644 $298 $18 $90 $1,455 $121
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Toyota Avalon insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Avalon XL $190 $288 $298 $18 $90 $884 $74
Avalon XLS $190 $340 $298 $18 $90 $936 $78
Avalon Limited $210 $340 $298 $18 $90 $956 $80
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Prices do not factor in the specific area where the vehicle is garaged which can decrease or increase auto insurance rates significantly.

We can estimate from the data above that using a $100 deductible will cost you about $39 more each month or $468 for a full year than quoting the higher $1,000 deductible. Since you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 23 months between claim filings, you would probably save some money if you decide on a higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $100 deductibles: $116
Average monthly premium for $1,000 deductibles (subtract): – $77
Monthly savings from raising deductible: $39
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $39
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

Tickets and at-fault accidents raise rates

The example below demonstrates how speeding tickets and accidents can increase Toyota Avalon car insurance costs for different age groups. The rates are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.

Comparison of full coverage and liability-only policies

The example below visualizes the comparison of Toyota Avalon insurance rates with liability coverage only compared to full coverage. The information is based on no claims or driving citations, $100 deductibles, single status, and no other discounts are factored in.

Should you pay for full coverage?

There is no exact formula to delete physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Toyota Avalon replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $7,000 after paying your deductible. If it’s costing in excess of $700 annually for physical damage coverage, then it may be the right time to buy liability only.

There are a few situations where eliminating full coverage is not in your best interest. If you still have a lienholder on your title, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Auto insurance coverage basics

Knowing the specifics of your policy helps when choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement.

Uninsured/Underinsured Motorist coverage

This coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Since many Colorado drivers have only the minimum liability required by law (25/50/15 in Colorado), their limits can quickly be used up. So UM/UIM coverage is a good idea.

Liability insurance

This coverage provides protection from damages or injuries you inflict on other people or property by causing an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 25/50/15 that means you have $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $15,000 paid for damaged property.

Liability insurance covers claims such as medical expenses, attorney fees, bail bonds and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford. Colorado state minimum liability requirements are 25/50/15 but it’s recommended drivers buy more coverage.

The chart below demonstrates why buying low liability limits may not be enough coverage.

Collision insurance

This coverage pays to fix your vehicle from damage from colliding with an object or car. A deductible applies then your collision coverage will kick in.

Collision can pay for things like driving through your garage door, colliding with another moving vehicle, rolling your car, crashing into a ditch and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. It’s also possible to increase the deductible on your Avalon to bring the cost down.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for short-term medical expenses like surgery, dental work, pain medications, hospital visits and rehabilitation expenses. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Comprehensive coverage

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like hitting a deer, a broken windshield and damage from getting keyed. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

The best insurance company isn’t always the cheapest

Some insurance providers may not have price quotes online and most of the time these smaller companies provide coverage only through independent agents. Cost effective Toyota Avalon insurance can be purchased both online and also from your neighborhood Colorado Springs agents, and you should be comparing both to have the best selection.

Drivers who switch companies do it for a variety of reasons including policy cancellation, not issuing a premium refund, denial of a claim or even high rates after DUI convictions. Whatever your reason, finding a new car insurance company is pretty simple and you could end up saving a buck or two.

We just presented some good ideas how you can reduce Toyota Avalon insurance prices online in Colorado Springs. The key thing to remember is the more providers you compare, the better chance you’ll have of finding the cheapest Toyota Avalon rate quotes. Consumers may even find the lowest prices come from a small mutual company.

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