Do you need a fast way to compare low-cost BMW X1 insurance in Colorado Springs? Locating cheaper insurance for a new or used BMW X1 in Colorado could be difficult, but you can learn the following methods to find lower rates.
There are both good and bad ways to shop for car insurance so you're going to learn the best way to quote coverages on a BMW and locate the best price possible either online or from Colorado Springs insurance agents.
Finding low cost BMW X1 insurance quotes is surprisingly easy. Just invest a few minutes getting comparison quotes provided by online insurance companies.
The auto insurance companies shown below offer quotes in Colorado Springs, CO. If multiple companies are listed, it's highly recommended you compare several of them in order to find the most affordable rates.
Discounts can help save money on BMW X1 insurance in Colorado Springs
Insurance is not inexpensive, but you may find discounts that many people don't even know exist. Many discounts should be triggered when you quote, but occasionally some discounts must be requested specifically before being credited. If you don't get every credit available, you are paying more than you should be.
- College Student - Kids who live away from home at college and don't have a car may qualify for this discount.
- Theft Deterrent - Cars equipped with anti-theft or alarm systems are less likely to be stolen so companies will give you a small discount.
- Military Rewards - Being on active duty in the military could be rewarded with lower rates.
- Anti-lock Brakes - Cars and trucks with anti-lock braking systems can avoid accidents so companies give up to a 10% discount.
- Drive Safe and Save - Drivers who don't get into accidents may save up to 50% more than drivers with accident claims.
- Payment Discounts - By making one initial payment rather than paying in monthly installments you could save 5% or more.
- Colorado Springs Homeowners Discount - Just being a homeowner can help you save on insurance due to the fact that maintaining a home is proof that your finances are in order.
- 55 and Retired - If you're over the age of 55, you may be able to get a discount up to 10%.
- Multiple Cars - Buying coverage for several vehicles on a single policy may reduce the rate for each vehicle.
- Claim Free - Colorado Springs drivers who stay claim-free pay less when compared with accident-prone drivers.
We need to note that most credits do not apply the the whole policy. Most only cut specific coverage prices like comp or med pay. Just because it seems like all those discounts means the company will pay you, it just doesn't work that way.
A list of companies and a selection of discounts are outlined below.
- State Farm may offer discounts for Drive Safe & Save, Steer Clear safe driver discount, student away at school, passive restraint, multiple autos, and safe vehicle.
- Farmers Insurance discounts include distant student, multi-car, teen driver, switch companies, pay in full, and business and professional.
- GEICO has savings for seat belt use, anti-theft, good student, multi-policy, air bags, emergency military deployment, and federal employee.
- American Family offers premium reductions for early bird, Steer into Savings, accident-free, good driver, and defensive driver.
- Nationwide includes discounts for Farm Bureau membership, business or organization, family plan, defensive driving, good student, easy pay, and multi-policy.
- Progressive has discounts for multi-vehicle, online quote discount, continuous coverage, online signing, and good student.
Before buying, ask every company to give you their best rates. All car insurance discounts may not apply in every state. To locate providers that have a full spectrum of discounts in Colorado, follow this link.
Insurance agencies can help
A small number of people still like to get advice from a local agent and that is not a bad decision Insurance agents are trained risk managers and help file insurance claims. One of the great benefits of getting online price quotes is that you can obtain the best rates and also buy local. Buying from local insurance agencies is especially important in Colorado Springs.
By using this simple form, your insurance coverage information is emailed to companies in Colorado Springs who will return price quotes and help you find cheaper coverage. You never need to even leave your home since rate quotes are delivered to you instantly. In the event you want to get a comparison quote for a specific company, you can always jump over to their website and submit a quote form there.
The following is a list of insurance companies in Colorado Springs that can give you price quotes for BMW X1 insurance in Colorado Springs.
- Allstate Insurance: Wermers Agency Inc
1283 Kelly Johnson Blvd - Colorado Springs, CO 80920 - (719) 471-6777 - View Map
- American Family Insurance - Dean Skaret Agency Inc.
2340 Academy Blvd N - Colorado Springs, CO 80909 - (719) 597-4330 - View Map
- Austin Morgan - State Farm Insurance Agent
2606 Palmer Park Blvd - Colorado Springs, CO 80909 - (719) 630-1800 - View Map
- A Better Choice Auto Insurance
1863 N Circle Dr - Colorado Springs, CO 80909 - (719) 667-1301 - View Map
Finding a good insurer requires you to look at more than just the quoted price. The answers to these questions are important, too.
- How experienced are they in personal risk management?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Will your rates increase after a single accident?
- Did they already check your driving record and credit reports?
- How does the company pay claims for a total loss?
- Does the company have a local claim office in Colorado Springs?
- What insurance companies do they work with in Colorado Springs?
- Are there any extra charges for paying monthly?
After getting positive responses to all your questions as well as low cost BMW X1 insurance quotes, most likely you have located a company that can be relied on to properly insure your vehicles. It's important to know that once you purchase a policy you can cancel your policy at any time so never feel that you are obligated to your new company for the full term.
What Affects BMW X1 Insurance Rates?
The best way to find cheaper auto insurance is to take a look at the rating factors that come into play when calculating your policy premiums. When you know what positively or negatively controls the rates you pay, this empowers consumers to make smart changes that could result in better auto insurance rates.
Listed below are most of the major factors used by your company to calculate your prices.
How much liability protection do you need? - Liability coverage provides coverage in the event that you are found liable for damages from an accident. Liability insurance provides legal defense to attempt to prove you were not liable. This coverage is very inexpensive compared to other policy coverages, so do not skimp.
Bad credit hurts insurance premiums - Credit score factor in calculating your auto insurance rates. Consumers who have excellent credit tend to file fewer claims as compared to drivers with poor credit scores. If your credit rating is lower than you'd like, you could potentially save money when insuring your BMW X1 by improving your rating.
Your age impacts your rates - Older drivers have been proven to be more responsible, are lower risk to insure, and get fewer tickets.Teen drivers have been known to be inattentive and easily distracted in a vehicle so they pay higher auto insurance rates.
Employer can influence rates - Careers like lawyers, police officers, and stock brokers tend to have higher premiums than the average policyholder because of intense work situations and long work hours. On the flip side, occupations such as scientists, students and performers receive lower rates.
Cheaper to insure females? - Over the last 30 years, statistics show that females take fewer risks when driving. That doesn't necessarily mean that females are better drivers. Females and males cause auto accidents in similar numbers, but men have costlier accidents. In addition to higher claims, males also get cited for more serious violations like DWI (DUI) or reckless driving.
Pleasure use saves money - The higher the mileage driven in a year the more you will pay for auto insurance. Most companies price each vehicle's coverage based on how the vehicle is used. Cars and trucks that are left in the garage get more affordable rates than those used for commuting. It's a good idea to make sure your vehicle rating states the proper vehicle usage, because improper ratings can cost you money. Incorrect rating for your X1 can result in significantly higher rates.
Insurance losses for a BMW X1 - Companies analyze historical claim data to determine a price that will be profitable for them. Models that the data shows to have increased losses will have a higher premium rate. The data below shows the historical loss data for BMW X1 vehicles.
For each coverage type, the loss probablilty for all vehicles, as an average, is represented as 100. Values that are 100 or less represent a good loss history, while numbers shown that are more than 100 indicate a higher chance of having a claim or an increased chance of a larger loss.
BMW X1 Insurance Loss Statistics
|Specific BMW Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|BMW X1 4dr 2WD||99||86||113||90||95||87|
|BMW X1 4dr 4WD||103||96||120||73||69||82|
Statistics from IIHS.org for 2013-2015 Model Years
Insurance just makes sense
Despite the fact that insurance is not cheap in Colorado Springs, insurance serves a purpose in several ways.
- The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability insurance coverage in order to license the 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 BMW X1 has a loan, it's most likely the lender will make it a condition of the loan that you buy insurance to guarantee their interest in the vehicle. If you default on your policy, the bank may buy a policy for your BMW at a more expensive rate and force you to reimburse them for the expensive policy.
- Insurance preserves both your assets and your BMW. Insurance will also pay for medical bills incurred in an accident. Liability insurance also pays for attorney fees and expenses if you are sued as the result of an accident. If mother nature or an accident damages your car, your policy will pay to repair the damage minus the deductible amount.
The benefits of insuring your X1 are without a doubt worth the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer overpays as much as $855 a year so you should quote rates each time the policy renews to be sure current rates are still competitive.
Cheaper car insurance rates are possible
Drivers switch companies for a number of reasons such as denial of a claim, delays in paying claims, policy cancellation and lack of trust in their agent. Regardless of your reason, finding the right car insurance provider is not as difficult as it may seem.
When buying insurance coverage, never reduce coverage to reduce premium. There have been many cases where consumers will sacrifice physical damage coverage only to regret that their decision to reduce coverage ended up costing them more. The ultimate goal is to purchase a proper amount of coverage at the best possible price but still have enough coverage for asset protection.
Lower-priced BMW X1 insurance in Colorado Springs can be sourced online in addition to many Colorado Springs insurance agents, so get free Colorado Springs auto insurance quotes from both of them so you have a total pricing picture. Some companies may not offer the ability to get a quote online and usually these smaller companies only sell through independent insurance agents.
More detailed car insurance information can be read at these sites:
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- What Auto Insurance is Cheapest for Single Moms in Colorado? (FAQ)
- What is the Best Cheap Car Insurance in Denver, CO? (FAQ)
- What is a Telematics Device? (Allstate)
- Parking Tips to Reduce Door Dings (State Farm)
- Prepare your Teens for Safe Driving (InsureUonline.org)