Trying to find the cheapest insurance for a car in Colorado can normally be a lot of work, but you can learn these tips to make it easier.

There are both good and bad ways to buy insurance and you need to know the quickest way to price shop coverage for a and obtain the lowest price either online or from Louisville insurance agents.

A study showed that most insurance policyholders in Colorado have stayed with the same insurance company for at least the last four years, and 38% of drivers have never compared rates to find cheap insurance. Drivers in the United States could save an average of about 46.5% each year by just comparing rate quotes, but they don't know the rate savings if they moved their coverage to a different company.

Obtaining price quotes for affordable auto insurance policy in Louisville is not as hard as you think. If you're already insured or want to find a cheaper company, you can learn to get lower rates without reducing coverage. Smart buyers just need to learn the most efficient way to shop from many companies at once.

The following companies are our best choices to provide free rate quotes in Louisville, CO. If several companies are displayed, it's highly recommended you visit as many as you can to get the best price comparison.

Insurance Rates for Popular Vehicles in Louisville
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Silverado LS Extended Cab 4WD $1,372 $686 $114
Dodge Ram Quad Cab SLT 4WD $1,202 $601 $100
Ford Edge SE AWD $908 $454 $76
Ford Escape XLS 4WD $788 $394 $66
Ford F-150 FX2 Super Cab 2WD $862 $431 $72
Ford Focus S 4-Dr Sedan $1,152 $576 $96
Honda Accord EX 4-Dr Sedan $892 $446 $74
Honda CR-V LX 4WD $788 $394 $66
Honda Civic EX-L 2-Dr Coupe $1,548 $774 $129
Jeep Grand Cherokee SRT-8 4WD $1,292 $646 $108
Nissan Altima 2.5 S 4-Dr Sedan $956 $478 $80
Nissan Rogue SL 2WD $1,268 $634 $106
Toyota Camry SE $1,280 $640 $107
Toyota Corolla LE $1,176 $588 $98
Toyota Prius $878 $439 $73
Get Your Own Custom Quote Go

Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Information does not factor in specific garaging location which can raise or lower premium rates substantially.

Physical damage deductibles

The chart below demonstrates how deductible levels and can influence Kia Optima insurance costs for different categories of driver ages. The information is based on a married female driver, full physical damage coverage, and no discounts are applied.

Kia Optima rates are for example purposes only. To get rates for your specific vehicle, click here.

Difference between liability only and full coverage rates

The illustration below illustrates the difference between Kia Optima premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The data assumes no violations or accidents, $500 deductibles, single female driver, and no other discounts are factored in.

Kia Optima rates are for example purposes only. To get rates for your specific vehicle, click here.

When to drop comp and collision

There is no definitive rule for dropping comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let's pretend your Kia Optima settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $3,000 after the deductible is paid. If you are paying more than $300 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some scenarios where eliminating full coverage is not in your best interest. If you haven't paid off your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Auto insurance premiums based on gender

The example below illustrates the comparison of yearly insurance costs for male and female drivers in Louisville. The premiums assume no tickets, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are taken into consideration on a Toyota Corolla S.

Toyota Corolla rates are for example purposes only. To get rate quotes for your specific vehicle, click here.

Insuring your vehicle just makes sense

Even though it's not necessarily cheap to insure a vehicle in Louisville, maintaining insurance is mandatory in Colorado but it also protects more than you think.

The benefits of carrying adequate insurance greatly outweigh the cost, particularly for liability claims. According to a recent study, the average American driver is currently overpaying as much as $820 a year so compare quotes from several companies once a year at a minimum to ensure rates are competitive.

Components of your insurance rates

Many factors are used in the calculation when you get your auto insurance bill. Some are pretty understandable such as traffic violations, although others are less apparent like your vehicle usage or how safe your car is. It's important that you understand a few of the rating criteria that help calculate your premiums. If you know what determines base rates, this enables you to make decisions that can help you get big savings.

Listed below are a few of the "ingredients" utilized by car insurance companies to help set prices.

City traffic equals higher rates - Having an address in areas with lower population can be a good thing when insuring your vehicles. Fewer drivers and short commutes means less chance of accidents and lower theft and vandalism rates. Drivers who live in large Colorado cities tend to have traffic congestion and higher rates of accident claims. More time on the road statistically corresponds to a higher accident and claim rate.

Raising physical damage deductibles lowers rates - Comprehensive and collision coverage deductibles tell how much you are required to spend if you file a covered claim. Protection for physical damage, aka comp and collision, covers damage that occurs to your car. Examples of covered claims could be a windshield broken by a bird, fire damage, or theft of your vehicle. The higher the amount you pay before a claim is paid (deductible), the less your company will charge you for insurance.

Low stress vocation equals lower rates - Careers such as military generals, social workers and dentists usually pay higher average rates in part from intense work requirements and extremely grueling work hours. On the flip side, occupations like farmers, engineers and performers generally pay rates lower than average.

Getting married can lower rates - Being married can actually save you money compared to being single. Having a significant other generally demonstrates drivers are more mature and insurance companies like that drivers who are married file infrequent claims.

Car insurance liability insurance limits - Liability coverage provides coverage in the event that you are responsible for an accident. It provides legal defense coverage starting from day one. Liability insurance is quite affordable compared to other policy coverages, so drivers should carry high limits.

No car insurance policy gaps is important - Allowing your coverage to lapse is a sure-fire way to increase your renewal premiums. Not only will you pay higher rates, not being able to provide proof of insurance may result in fines and jail time. You may need to submit proof of financial responsibility or a SR-22 with the Colorado department of motor vehicles.

Are you eligible for every discount?

Properly insuring your vehicles can get expensive, but you may find discounts that could drop your premiums quite a bit. Most are applied when you get a quote, but a few must be manually applied before they will apply.Car insurance discounts

One thing to note about discounts is that many deductions do not apply the the whole policy. Some only apply to specific coverage prices like liability and collision coverage. Just because it seems like adding up those discounts means a free policy, nobody gets a free ride. But all discounts will definitely lower the premium cost.

A partial list of companies that possibly offer many of the previously listed discounts include:

Double check with each insurance company how many discounts you can get. Some of the earlier mentioned discounts may not be offered in Louisville. To choose insurance companies with significant discounts in Colorado, click this link.

When in doubt talk to an agent

When it comes to buying coverage, there really is no single plan that fits everyone. Everyone's situation is unique and your policy should reflect that.Higher deductibles save money For instance, these questions may help highlight if you might need an agent's assistance.

If you don't know the answers to these questions but you think they might apply to your situation then you might want to talk to an agent. If you don't have a local agent, take a second and complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and you can get the answers you need.

Quote more to save more

When getting Louisville car insurance quotes online, never sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice comprehensive coverage or liability limits only to regret they didn't purchase enough coverage. The aim is to buy the best coverage you can find at the best possible price while not skimping on critical coverages.

We just covered many tips how you can find cheaper coverage online. It's most important to understand that the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the lowest car insurance rates are with the smaller companies. They can often provide lower premium rates in certain areas as compared to the big name companies such as Progressive and GEICO.

More detailed insurance information is located in the articles below: