Nobody I know likes paying for car insurance, especially when they could lower their rates if they shopped around.
It's hard to fathom, but about 70% of customers kept buying from the same company for over three years, and nearly the majority have never compared rate quotes at all. Many drivers in the United States could save an average of up to 47% each year just by getting comparison quotes, but they don't know the big savings they would realize if they switched. Consumers have multiple insurers to pick from, and although it's a good thing to have multiple companies, so many choices can make it hard to compare rates for Hyundai Tucson insurance in Colorado Springs.
Finding low cost Colorado Springs car insurance prices can be relatively painless. Drivers just need to take a few minutes getting comparison quotes from online providers.
Comparing free rates online is easy and it, makes it obsolete to physically go to and from local Colorado Springs insurance agencies. Buying insurance online reduces the need to sit down with an agent unless you have a need for the peace of mind that you can only get from talking to an agent. It is possible to compare the best prices online but have your policy serviced through an agent.
The providers in the list below offer free rate quotes in Colorado. If multiple providers are shown, we recommend you visit several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tucson GLS 2WD||$132||$218||$362||$22||$108||$842||$70|
|Tucson GLS 4WD||$190||$312||$396||$24||$118||$1,040||$87|
|Tucson Limited 2WD||$190||$362||$368||$22||$110||$1,052||$88|
|Tucson Limited 4WD||$260||$562||$396||$24||$118||$1,360||$113|
|Get Your Own Custom Quote Go|
Prices based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Price information does not factor in specific location which can change coverage rates substantially.
Does it make sense to buy full coverage?
The illustration below shows the comparison of Hyundai Tucson insurance rates with full phyical damage coverage and with liability coverage only. Data assumes no claims, a clean driving record, $250 deductibles, married male driver, and no other discounts are factored in.
When to drop comprehensive and collision
There is no exact formula of when to eliminate physical damage coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle's replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let's say your Hyundai Tucson replacement cost is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after you pay the deductible. If you are paying in excess of $400 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are a few situations where removing full coverage is not a good plan. If you haven't paid off your loan, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
Save money with these five discounts
Insurance can be prohibitively expensive, but there's a good chance there are discounts that can drop the cost substantially. Many of these discounts will be applied automatically when you quote, but less common discounts must be requested specifically before being credited.
- Driver Safety - Taking time to complete a class that teaches defensive driver techniques may get you a small discount if your company offers it.
- Anti-lock Brake System - Cars and trucks equipped with ABS or steering control can reduce accidents and qualify for as much as a 10% discount.
- Student Driver Training - It's a good idea to have your young drivers enroll and complete driver's education in high school.
- Bundled Policy Discount - If you have multiple policies and insure them with the same company they may give you a discount of as much as 10 to 15 percent.
- Air Bags and Passive Restraints - Options like air bags or automatic seat belts can get savings of 20% or more.
Consumers should know that many deductions do not apply to the overall cost of the policy. Most cut the cost of specific coverages such as comprehensive or collision. So when it seems like it's possible to get free car insurance, companies wouldn't make money that way.
Some of the larger companies that have most of the discounts above possibly include:
When comparing rates, check with each company or agent which discounts you qualify for. Discounts may not apply in every state. To locate auto insurance companies that offer some of these discounts in Colorado Springs, click here to view.
Auto insurance does more than just repair your car
Despite the potentially high cost of Hyundai Tucson insurance, insurance is not optional due to several reasons.
- Just about all states have mandatory insurance requirements which means you are required to buy specific limits of liability insurance in order to get the vehicle licensed. 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 Tucson has a loan, most banks will require you to buy insurance to ensure loan repayment if the vehicle is totalled. If you let the policy lapse, the bank may buy a policy for your Hyundai for a much higher rate and force you to reimburse them the higher price.
- Auto insurance protects both your Hyundai and your personal assets. It will also reimburse you for most medical and hospital costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, will also pay for a defense attorney if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to have it repaired.
The benefits of insuring your Tucson definitely exceed the price paid, especially with large liability claims. As of last year, the average driver in Colorado is overpaying more than $820 a year so shop around each time the policy renews to ensure rates are inline.
Auto insurance is available from local agents
Certain consumers still prefer to talk to an insurance agent and that is a personal choice. Good agents can help you choose the best coverages and help file insurance claims. One of the best bonuses of price shopping on the web is that drivers can save money and get lower rates and still have a local agent. And buying from neighborhood insurance agencies is still important in Colorado Springs.
After completing this quick form, your coverage information is submitted to insurance agents in Colorado Springs who will return price quotes for your business. You won't even need to find an agent since price quotes are sent immediately to you. If you wish to get a comparison quote from a specific company, you would need to navigate to their website and complete a quote there.
Deciding on an company should depend on more than just the bottom line cost. Agents should be asked these questions:
- If they are an independent agency in Colorado Springs, which companies do they recommend?
- Can they help ensure a fair claim settlement?
- What kind of financial rating does the company have?
- Is assistance available after office hours?
- If you are a high risk driver, do they have special markets for your coverage?
Auto insurance coverage breakdown
Knowing the specifics of auto insurance can help you determine appropriate coverage and proper limits and deductibles. Auto insurance terms can be ambiguous and nobody wants to actually read their policy. Shown next are the usual coverages found on the average auto insurance policy.
Liability car insurance - This coverage provides protection from damage or injury you incur to a person or their property by causing an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 25/50/15 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.
Liability insurance covers things like emergency aid, medical expenses, structural damage, medical services and bail bonds. How much coverage you buy is a decision to put some thought into, but consider buying as much as you can afford. Colorado requires drivers to carry at least 25/50/15 but drivers should carry better liability coverage.
Medical expense coverage - Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses such as rehabilitation expenses, ambulance fees, nursing services, chiropractic care and prosthetic devices. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. They cover all vehicle occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage
Uninsured or underinsured coverage - Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle's occupants as well as damage to your Hyundai Tucson.
Since many Colorado drivers only purchase the least amount of liability that is required (which is 25/50/15), it doesn't take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Normally these coverages are set the same as your liability limits.
Collision - Collision coverage pays for damage to your Tucson resulting from a collision with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims like colliding with another moving vehicle, crashing into a building, hitting a parking meter, scraping a guard rail and colliding with a tree. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to raise the deductible on your Tucson to get cheaper collision coverage.
Comprehensive protection - This pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as falling objects, hail damage and hitting a bird. The most you'll receive from a claim is the market value of your vehicle, so if it's not worth much more than your deductible consider dropping full coverage.