Trying to find the cheapest insurance for your car in Colorado can be a painful process, but you can learn a few tricks to make it easier. There are both good and bad ways to find car insurance online and you need to know the absolute fastest way to price shop coverage for a new or used and find the cheapest rates either online or from Longmont insurance agents.
Shocking but true, over 70% of consumers have purchased from the same company for over three years, and approximately 38% of consumers have never quoted car insurance rates at all. Most drivers in Colorado could save almost $610 a year by just comparing quotes, but they won't spend time to compare rates and save money.
You need to check car insurance prices quite often since prices are adjusted regularly by insurance companies. Even if you think you had the best rate on car insurance two years ago you can probably find a lower rate today. Block out anything you think you know about car insurance because you're going to get a crash course in the fastest and easiest way to properly buy coverages and cut your premium.
If you have a current car insurance policy or are shopping for new coverage, follow these tips to buy cheaper car insurance and possibly find even better coverage. Getting quotes for more affordable car insurance policy in Longmont is not as hard as you may think. Vehicle owners only need an understanding of the best way to compare company rates from many companies at once.
Companies offer lots of discounts on insurance
The cost of insuring your cars can be expensive, but companies offer discounts that could help you make your next renewal payment. A few discounts will be applied at quote time, but some discounts are required to be specifically requested before they will apply. If they aren't giving you every credit available, you could be saving more on your insurance.
- Good Student Discount - Being a good student can earn a discount of 20% or more. Many companies even apply the discount to college students well after school through age 25.
- Government Employees - Federal government employees could qualify for a slight premium decrease but check with your company.
- Senior Citizen Discount - If you're over the age of 55, you could receive better insurance rates.
- Fewer Miles Equal More Savings - Low annual miles may allow you to get lower rates due to less chance of an accident.
- Discount for Swiching Early - A few companies offer discounts for switching policies prior to the expiration date on your current policy. Ten percent is about the average savings.
- Theft Prevention System - Vehicles equipped with tracking devices and advanced anti-theft systems prevent vehicle theft and will qualify for a discount on a Longmont auto insurance quote.
- Defensive Driver Discount - Passing a safe driver class could cut 5% off your bill if you qualify.
- Telematics Discount - Policyholders that allow companies to scrutinize driving manner by installing a telematics device like Allstate's Drivewise might get better premium rates as long as they are good drivers.
- Anti-lock Brake System - Cars, trucks, and SUVs with ABS and/or traction control prevent accidents and therefore earn up to a 10% discount.
- Memberships - Having an affiliation with qualifying clubs or civic groups may earn a discount on your next insurance statement.
Don't be surprised that many deductions do not apply to all coverage premiums. Some only apply to the cost of specific coverages such as collision or personal injury protection. Despite the appearance that adding up those discounts means a free policy, it just doesn't work that way. But any discount will reduce the amount you pay for coverage.
Some companies that may offer policyholders many of the previously listed discounts may include but are not limited to:
Double check with every insurance company to give you their best rates. Some discounts listed above might not be offered in every state. To locate providers that provide some of the discounts listed above in Colorado, click this link.
How to compare free Longmont auto insurance quotes
The companies in the list below are our best choices to provide price comparisons in Longmont, CO. If several companies are displayed, we suggest you get rate quotes from several of them to get the lowest price.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LS Regular Cab 4WD||$1,028||$514||$86|
|Dodge Ram Crew Cab TRX 2WD||$1,458||$729||$122|
|Ford Escape XLS 4WD||$784||$392||$65|
|Ford Explorer XLT 2WD||$788||$394||$66|
|Ford F-150 Lariat Super Cab 2WD||$1,212||$606||$101|
|Ford Focus S 4-Dr Sedan||$1,066||$533||$89|
|GMC Sierra SLE Regular Cab 2WD||$1,244||$622||$104|
|Honda Accord LX 4-Dr Sedan||$1,180||$590||$98|
|Honda CR-V LX 4WD||$818||$409||$68|
|Honda Civic LX 2-Dr Coupe||$1,330||$665||$111|
|Kia Optima EX||$1,354||$677||$113|
|Nissan Altima 3.5 SR 2-Dr Coupe||$1,490||$745||$124|
|Toyota Camry Hybrid||$954||$477||$80|
|Toyota Corolla S||$1,324||$662||$110|
|Toyota RAV4 Limited 4WD||$1,342||$671||$112|
|Get Your Own Custom Quote Go|
Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Price estimates do not factor in your specific Longmont location which can raise or lower coverage rates greatly.
Rate difference between full and liability-only coverage
The chart below illustrates the comparison of Chevrolet Malibu insurance rates when comparing full coverage to state minimum liability only. The data is based on no violations or accidents, $1,000 deductibles, single male driver, and no additional discounts are factored in.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
Are you wasting money paying for full coverage?
There isn't a written rule of when to eliminate physical damage coverage on your policy, but there is a general convention. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let's pretend your Chevrolet Malibu replacement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $4,000 after paying the physical damage deductible. If premium cost is more than $400 a year to have full coverage, then it could be time to drop full coverage.
There are some scenarios where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Physical damage deductibles
When shopping for auto insurance, a common question is what deductibles to buy. The data tables below show how much more rates are when you select higher and lower policy deductibles. The first rate quote example uses a $100 deductible for physical damage and the second data table uses a $500 deductible.
Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Sentra 2.0 S||$264||$644||$352||$20||$106||$1,411||$118|
|Sentra 2.0 SR||$264||$644||$352||$20||$106||$1,411||$118|
|Sentra 2.0 SL||$302||$644||$352||$20||$106||$1,449||$121|
|Sentra SE-R SPEC V||$302||$740||$352||$20||$106||$1,545||$129|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Sentra 2.0 S||$192||$434||$352||$20||$106||$1,104||$92|
|Sentra 2.0 SR||$192||$434||$352||$20||$106||$1,104||$92|
|Sentra 2.0 SL||$220||$434||$352||$20||$106||$1,132||$94|
|Sentra SE-R SPEC V||$220||$500||$352||$20||$106||$1,198||$100|
|Get a Quote for Your Vehicle Go|
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Premium costs do not factor in Longmont location which can decrease or increase price quotes noticeably.
Using the data above, we can ascertain that using a $100 deductible will cost you about $26 more each month or $312 every year than quoting the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you average more than 15 months between claim filings, you would save money if you elect the higher deductible.
How to determine when to raise deductibles
|Average monthly premium for $100 deductibles:||$119|
|Average monthly premium for $500 deductibles (subtract):||- $93|
|Monthly savings from raising deductible:||$26|
|Difference between deductibles ($500 - $100):||$400|
|Divide difference by monthly savings:||$400 / $26|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||15 months|
One important issue to know is that raising deductibles means you will have to pay more out-of-pocket when you have a physical damage claim. You need to make sure you have a higher level of savings in order to pay the higher deductible in order to repair your vehicle.
How high should deductibles be?
The information below highlights how deductible choice and can impact Ford F-150 annual premium costs for each different age group. The rate quotes are based on a married female driver, comp and collision included, and no policy discounts are applied.
Ford F-150 rates are for example purposes only. To get rates for your specific vehicle, click here.
Do I just need basic coverages?
When buying your policy for your vehicles, there really isn't a cookie cutter policy. Your needs are not the same as everyone else's and a cookie cutter policy won't apply. For instance, these questions may help you determine whether you may require specific advice.
- Does my insurance cover damage caused when ticketed for reckless driving?
- Who sells insurance for high-risk drivers?
- Why are teen drivers so expensive to add on to my policy?
- Is business property covered if stolen from my car?
- I have a DUI can I still get coverage?
- Should I file a claim if it's only slightly more than my deductible?
- Are combined or split liability limits better?
- Are there companies who specialize in insuring high-risk drivers?
If you can't answer these questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area. It is quick, free and you can get the answers you need.
A little work can save a LOT of money
When you buy Longmont auto insurance online, it's not a good idea to skimp on critical coverages to save a buck or two. There are too many instances where an insured cut physical damage coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy a smart amount of coverage for the lowest cost, not the least amount of coverage.
We've covered a lot of techniques to get a better price on insurance in Longmont. The key thing to remember is the more rate quotes you have, the higher your chance of finding cheap Longmont auto insurance quotes. You may even be surprised to find that the biggest savings come from some of the smallest insurance companies. These companies may have significantly lower premium rates on certain market segments compared to the large companies like GEICO and State Farm.