Think you have an underperforming, overpriced auto insurance policy? Believe me when I say there are many people just like you.
Unbelievable but true according to a study 70% of consumers kept buying from the same company for four years or more, and nearly half have never compared rates to find lower-cost insurance. Many drivers in the United States could pocket approximately 47% a year by just comparing rate quotes, but they mistakenly think it's difficult to compare rates.
Popular companies such as Allstate, Liberty Mutual and State Farm constantly bombard you with ad campaigns and it can be hard to see past the geckos and flying pigs and effectively compare rates to find the best deal.
Decisions You Make Can Impact Your Insurance Costs
An important part of buying insurance is that you know some of the things that go into determining your premiums. When you know what positively or negatively positively or negatively impacts your premiums, this allows you to make good choices that can help you get better auto insurance rates.
The following are some of the things used by companies to determine your premiums.
Performance affects rates - The make and model of the vehicle you drive makes a substantial difference in your premium level. Due to the fact that the Acura TSX is classified as a passenger car, insuring your vehicle will cost similar in price or lower than the average rate where you live in Fort Collins. Economy passenger cars usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
Only buy what you need - Insurance policies have a lot of additional extra coverages you can purchase if you aren't diligent. Things like vanishing deductibles, death and dismemberment, and term life insurance may not be needed and are just wasting money. These coverages may sound good when discussing your needs, but if they're wasting money eliminate them to save money.
Liability insurance - Your auto insurance policy's liability coverage will provide protection if ever you are responsible for physical damage or personal injury to other. It will provide for a legal defense to attempt to prove you were not liable. Liability insurance is quite affordable when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.
Lower rates with alarms and GPS tracking - Selecting a car model with an alarm system can save you some money. Advanced theft deterrents such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help prevent your vehicle from being stolen.
When comparison shopping, there are several ways of comparing price quotes from lots of Colorado auto insurance companies. The quickest method to find the cheapest Acura TSX insurance rates is to use the internet to compare rates.
Doing online quotes comparisons is so easy that it makes it obsolete to make phone calls or go to different agent offices. The fact that you can get quotes online can eliminate the need for a local agent unless you require the professional assistance that only an agent can give. If you prefer, some companies allow you to price shop your coverage online but still have the advice of a local agent. When comparing auto insurance rates, know that comparing a wide range of rates will improve the odds of getting the best offered rates.
The companies shown below can provide quotes in Fort Collins, CO. If more than one company is shown, it's a good idea that you click on several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|TSX Technology Package||$162||$350||$338||$20||$102||$972||$81|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate information does not factor in specific location information which can modify premiums greatly.
Cost difference between full coverage and liability
The example below examines Acura TSX insurance costs with and without physical damage coverage. Data assumes no claims, a clean driving record, $500 deductibles, married male driver, and no discounts are applied to the premium.
Should you be buying full coverage?
There is no exact rule to stop paying for physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let's say your Acura TSX replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $2,000 after the deductible is paid. If it's costing in excess of $200 annually for your policy with full coverage, then it could be time to drop full coverage.
There are a few cases where only buying liability is not in your best interest. If you still have a loan on your vehicle, you have to keep full coverage to protect the lienholder's interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Accidents and violations increase rates
The diagram below shows how violations and at-fault accidents impact Acura TSX insurance rates for different age groups. The costs are based on a married male driver, full coverage, $500 deductibles, and no additional discounts are factored in.
Car insurance savings promises
Companies like Progressive, GEICO, Allstate and State Farm constantly bombard you with ads on television and other media. All the companies advertise the message that drivers can save some big amount if you switch your coverage. How is it possible that every company can cost less than your current company? It's all in the words they use.
All companies provide the lowest rates for the type of driver that will most likely be profitable. For instance, this type of insured might be married and over the age of 30, has a clear driving record, and has a high credit rating. A customer getting a price quote that fits those parameters receive the lowest rate quotes in Fort Collins and therefore will cut their Acura TSX insurance rates if they switch.
People who don't measure up to those criteria must pay higher premium rates with the end result being the driver buying from a lower-cost company. If you listen closely, the ads state "customers that switch" not "everyone who quotes" save the amount stated. This is how companies can advertise the savings. Because each company has a different risk profile, you really need to get a wide range of price quotes. Because without a comparison, you cannot know which insurance companies will give you lower prices than your current company.
Why car insurance is not optional
Despite the high cost of buying insurance for a Acura TSX in Fort Collins, paying for car insurance serves several important purposes.
- Almost all states have compulsory liability insurance requirements which means the state requires specific minimum amounts of liability insurance coverage 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 Acura TSX has a loan, it's guaranteed your bank will require that you have comprehensive coverage to protect their interest in the vehicle. If you let the policy lapse, the bank may buy a policy for your Acura for a lot more money and require you to fork over the higher premium.
- Car insurance preserves not only your Acura TSX but also your assets. It will also cover all forms of medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are sued as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of having car insurance greatly outweigh the cost, particularly for liability claims. According to a 2015 survey, the average American driver is currently overpaying as much as $869 every year so you should quote rates once a year at a minimum to ensure rates are inline.
Score discounts on Fort Collins insurance
Some companies don't list every possible discount in a way that's easy to find, so we researched a few of the more well known in addition to some of the lesser obvious discounts that may be available.
- Auto/Home Discount - If you insure your home and vehicles with the same insurance company they may give you a discount of nearly 15% which can help you find cheaper TSX insurance.
- First Accident Forgiveness - This one isn't a discount, but companies like Progressive, State Farm and GEICO will forgive one accident without getting socked with a rate hike as long as you don't have any claims prior to the accident.
- Sign Online - Certain companies will give you a small discount for buying your policy on the web.
- Theft Deterrent Discount - Anti-theft and alarm system equipped vehicles help deter theft so companies will give you a small discount.
- Air Bag Discount - Vehicles equipped with air bags or automatic seat belts may earn rate discounts of up to 25% or more.
- Discount for Life Insurance - Insurance companies who offer life insurance give lower premium rates if you buy life insurance.
- Responsible Driver Discount - Drivers who don't get into accidents could pay up to 40% less than less cautious drivers.
- Onboard Data Collection - Policyholders that allow their company to analyze their driving habits by using a telematics device in their vehicle like Allstate's Drivewise could see a rate decrease if they exhibit good driving behavior.
- Defensive Driver Discount - Successfully completing a defensive driver class could save 5% or more and easily recoup the cost of the course.
Policy discounts save money, but most discount credits are not given to the entire cost. The majority will only reduce the cost of specific coverages such as collision or personal injury protection. If you do the math and it seems like you would end up receiving a 100% discount, you're out of luck.
A few of the larger companies and some of the premium reductions they offer are detailed below.
- GEICO has discounts for multi-policy, defensive driver, membership and employees, good student, and daytime running lights.
- Auto-Owners Insurance may include discounts for teen driver, group or association, paperless, safe vehicle, and anti-lock brakes.
- American Family discounts include good student, early bird, accident-free, air bags, TimeAway discount, and bundled insurance.
- Esurance offers discounts for good driver, claim free, homeowner, anti-lock brakes, anti-theft, DriveSense, and Pac-12 alumni.
- Progressive may offer discounts for homeowner, continuous coverage, good student, online quote discount, and online signing.
- State Farm offers premium reductions for multiple autos, multiple policy, good student, Steer Clear safe driver discount, defensive driving training, and passive restraint.
- AAA may have discounts that include multi-car, multi-policy, pay-in-full, good student, and anti-theft.
If you want the cheapest Acura TSX rate quotes, ask every insurance company how you can save money. Discounts may not be available in your state. To find insurance companies that offer multiple discounts in Fort Collins, click here to view.
Auto insurance agents near you
Some people would rather buy from a local agent and that is just fine! The best thing about getting free rate quotes online is that you can obtain cheap auto insurance rates and also buy local.
To find an agent, once you fill out this form (opens in new window), the quote information is immediately sent to insurance agents in Fort Collins who will return price quotes for your business. You won't need to find an agent as quotes are delivered to you instantly. It's the lowest rates and work with a local agent. If for some reason you want to compare prices from a specific company, just search and find their rate quote page and fill out the quote form the provide.
Finding the right company should include more criteria than just a cheap quote. You should also get answers to these questions.
- Is the agent properly licensed in Colorado?
- Does the agent help file claims?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Will a damage claim use OEM or aftermarket replacement parts?
- What is the agency's Better Business Bureau rating?
When finding a local Fort Collins insurance agent, it's important to understand the different types of agents from which to choose. Auto insurance agents in Fort Collins can be described as either exclusive or independent (non-exclusive).
Exclusive insurance agents can only quote rates from one company and examples are Farmers Insurance or State Farm. These agents are unable to give you multiple price quotes so they really need to provide good service. They receive a lot of sales training on their products and sales techniques which helps offset the inability to provide other markets.
Shown below is a list of exclusive agencies in Fort Collins willing to provide rate quotes.
Independent Agents (or Brokers)
These type of agents are not restricted to one company and that allows them to write policies amongst many companies and find the cheapest rate. If they find a lower price, they simply move the coverage in-house and the insured can keep the same agent.
When comparing rates, we highly recommend that you compare prices from several independent insurance agents for maximum quote selection.
The following is a list of independent insurance agencies in Fort Collins who can help you get price quote information.
When to get professional advice
When buying your policy for your vehicles, there really isn't a best way to insure your cars. Your needs are not the same as everyone else's.
For instance, these questions can help discover whether you will benefit from professional help.
- Should I pay a claim out-of-pocket?
- Do I have ACV or replacement cost coverage?
- Am I covered when driving in Canada or Mexico?
- Can my teen driver be rated on a liability-only vehicle?
- What if I owe more than I can insure my car for?
- Am I covered if I hit my neighbor's mailbox?
- What if a claim settlement is too low?
- Is my Acura TSX covered if I use it for business?
If you're not sure about those questions but you think they might apply to your situation, you might consider talking to an insurance agent. If you don't have a local agent, take a second and complete this form.
Don't give up on affordable premiums
We covered a lot of information how to lower your Acura TSX insurance rates in Fort Collins. The key concept to understand is the more rate quotes you have, the better your comparison will be. Consumers could even find that the best rates are with a small mutual company.
A few companies do not offer online quoting and most of the time these small insurance companies only sell coverage through independent agents. Cheaper Acura TSX insurance in Fort Collins can be found on the web in addition to many Fort Collins insurance agents, so compare prices from both in order to have the best price selection to choose from.
As you go through the steps to switch your coverage, it's very important that you do not sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice uninsured motorist or liability limits only to regret that the savings was not a smart move. Your goal should be to find the BEST coverage at the lowest possible cost.
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