Are you a victim of an expensive car insurance policy? Trust us when we tell you many Fort Collins consumers feel financially strained by their car insurance policy.
Amazingly, the vast majority of consumers in Colorado have stayed with the same insurance company for well over three years, and nearly half have never compared quotes from other companies. American consumers could save $859 each year just by comparing rates, but most tend to underestimate how much savings they would realize if they switched to a more affordable policy. Having so many online and local companies to choose from, it can be hard to find the most cost effective car insurance company.
Finding the cheapest auto insurance coverage in Fort Collins is not that difficult as long as you know where to start. If you have insurance now or are looking for a new policy, take advantage of these tips to reduce the price you pay while maximizing coverage. Drivers only have to learn the quickest way to shop their coverage around instantly.
The companies shown below have been selected to offer free rate quotes in Colorado. If more than one company is shown, we recommend you visit as many as you can to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|300 Touring 4-Dr Sedan||$278||$496||$362||$22||$108||$1,266||$106|
|300 Touring Plus 4-Dr Sedan||$284||$434||$460||$28||$138||$1,344||$112|
|300 Touring AWD 4-Dr||$192||$360||$330||$20||$98||$1,000||$83|
|300 S V6 4-Dr Sedan||$172||$312||$362||$22||$108||$976||$81|
|300 Touring Signature 4-Dr Sedan||$340||$662||$474||$28||$142||$1,646||$137|
|300 Touring Executive 4-Dr Sedan||$294||$662||$396||$24||$118||$1,494||$125|
|300 Touring Signature AWD 4-Dr||$422||$910||$474||$28||$142||$1,976||$165|
|300 Limited 4-Dr Sedan||$294||$640||$396||$24||$118||$1,472||$123|
|300 C 4-Dr Sedan||$278||$500||$352||$20||$106||$1,256||$105|
|300 S V8 4-Dr Sedan||$216||$426||$338||$20||$100||$1,100||$92|
|300 Limited AWD 4-Dr||$332||$608||$358||$22||$108||$1,428||$119|
|300 C AWD 4-Dr||$238||$490||$368||$22||$110||$1,228||$102|
|300 SRT-8 4-Dr Sedan||$270||$490||$358||$22||$108||$1,248||$104|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Rates do not factor in the specific area where the vehicle is garaged which can alter premium rates considerably.
Full coverage or liability only
The chart below shows the comparison of Chrysler 300 insurance rates with and without full coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, married male driver, and no discounts are applied to the premium.
When to eliminate full coverage
There is no written rule for excluding physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let's assume your Chrysler 300 book value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,000 after paying your policy deductible. If you are paying in excess of $800 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are a few cases where only buying liability is not in your best interest. If you haven't paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.
Can higher deductibles save money?
The information below illustrates how choosing a deductible and can impact Chrysler 300 insurance rates for each age group. The costs are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Why you need Chrysler 300 insurance in Colorado
Despite the high cost of buying insurance for a Chrysler 300 in Fort Collins, maintaining insurance serves several important purposes.
First, most states have mandatory insurance requirements which means the state requires specific minimum amounts 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.
Second, if you took out a loan on your vehicle, most lenders will stipulate that you have insurance to guarantee payment of the loan. If you do not keep the policy in force, the bank may insure your Chrysler at an extremely high rate and require you to fork over for it.
Third, auto insurance preserves not only your Chrysler but also your financial assets. It will also provide coverage for hospital and medical expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your 300 greatly outweigh the cost, particularly when you have a large claim. On average, a vehicle owner in Fort Collins overpays more than $750 every year so it's important to compare rates once a year at a minimum to ensure rates are competitive.
The Chrysler 300 Insurance Rate Equation
Lots of things are used in the calculation when pricing auto insurance. A few of the factors are predictable like a motor vehicle report, but other criteria are not quite as obvious like where you live or how financially stable you are.
The items below are some of the items used by your company to calculate rates.
Responsible drivers pay less - Whether or not you get tickets impacts your car insurance rates tremendously. Attentive drivers have lower premiums as compared to those with violations. Getting just one driving citation may increase your cost to the point where it's not affordable. Drivers who have received multiple violations such as DUI or reckless driving may find that they have to to prove financial responsibility to the state department of motor vehicles in order to prevent a license revocation.
Your gender affects prices - Over time, data shows women tend to be less risk to insure than men. The data does not necessarily mean that males are worse at driving than females. Women and men cause auto accidents in similar percentages, but the male of the species cause more damage and cost insurance companies more money. Men also statistically get more serious tickets such as reckless driving. Youthful male drivers tend to get in the most accidents and therefore are the most expensive to insure.
How your age affects premiums - Teen drivers in Colorado are known to be less responsible with other occupants in the car so insurance rates are higher. More mature drivers are more responsible, statistically cause fewer accidents, and get fewer tickets.
Low credit history equals high premiums - A driver's credit score is a large factor in calculating your insurance rates. Insureds that have high credit ratings tend to file fewer claims than those with lower credit ratings. So if your credit score can use some improvement, you could be paying less to insure your Chrysler 300 if you improve your credit rating.
Lower rates for safer cars - Vehicles that have high safety ratings get lower rates. Vehicles built for safety help reduce the chance of injuries in an accident and reduced instances of injuries means your insurance company pays less which can mean better rates for you. If the Chrysler 300 earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
Chrysler 300 insurance loss probability - Auto insurance companies analyze claim trends for every vehicle when they file their rates in each state. Models that the data determines to have a trend towards higher claim severity or frequency will have increased rates. The next table shows the insurance loss data for Chrysler 300 vehicles.
For each insurance policy coverage type, the claim probability for all vehicles, regardless of make or model, is a value of 100. Percentages below 100 are indicative of better than average losses, while values that are above 100 indicate a higher chance of having a claim or a tendancy for losses to be larger than average.
Insurance Loss Ratings for Chrysler 300 Vehicles
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chrysler 300 2WD||115||103||178||134||136||114|
|Chrysler 300 4WD||109||100||206||113||96||104|
|Chrysler 300 HEMI||125||96||225||105||114||117|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Chrysler 300 insurance discounts in Fort Collins
Some insurance providers don't always list all their discounts in an easy-to-find place, so the following list contains some of the more common as well as some of the hidden credits available to lower your premiums when you buy Fort Collins car insurance online.
- Federal Government Employee - Simply working for the federal government can earn a discount up to 10% with select insurance companies.
- Drivers Education - Reduce the cost of insurance for teen drivers by having them successfully take a driver's education course in school or through a local driver safety program.
- Discount for Life Insurance - Select companies reward you with a small discount if you purchase life insurance from them.
- Defensive Driving Course - Taking part in a course in defensive driver could possibly earn you a 5% discount and also improve your driving technique.
- E-sign Discounts - Certain companies will provide an incentive for buying your policy digitally online.
- College Student Discount - College-age children who live away from home to go to college and do not have a car may be insured at a cheaper rate.
- Seat Belts Save more than Lives - Drivers who always wear seat belts and also require passengers to wear their seat belts can save up to 15% on the medical payments or PIP coverage costs.
A little disclaimer on discounts, most credits do not apply to the entire cost. Most only apply to specific coverage prices like physical damage coverage or medical payments. Even though it may seem like adding up those discounts means a free policy, companies don't profit that way.
A few of the larger companies and some of the premium reductions they offer are detailed below.
- Progressive policyholders can earn discounts including continuous coverage, online quote discount, homeowner, online signing, good student, and multi-vehicle.
- SAFECO includes discounts for homeowner, safe driver, bundle discounts, teen safety rewards, and multi-car.
- American Family has discounts for air bags, defensive driver, good driver, multi-vehicle, and TimeAway discount.
- MetLife discounts include good driver, accident-free, claim-free, good student, multi-policy, and defensive driver.
- GEICO may include discounts for anti-theft, federal employee, membership and employees, driver training, and good student.
- The Hartford offers discounts including defensive driver, bundle, air bag, vehicle fuel type, anti-theft, and good student.
When quoting, ask all companies you are considering which discounts they offer. Savings might not be offered on policies in Fort Collins. To find companies that offer the discounts shown above in Colorado, follow this link.
Buying from car insurance agents
Many people just want to buy from a local agent and that is not a bad decision Professional insurance agents can make sure you are properly covered and give you someone to call. A good thing about comparing rates online is the fact that drivers can get lower rates but also keep your business local.
To find an agent, once you fill out this simple form, your information gets sent to local insurance agents in Fort Collins who will return price quotes for your business. You won't need to leave your house because prices are sent immediately to your email address. If you have a need to compare prices from a specific company, you just need to jump over to their website and fill out the quote form the provide.
Choosing a insurer should depend on more than just a cheap price quote. Any agent in Fort Collins should be forthright in answering these questions:
- Does the agency have a positive business rating?
- Is there any savings for paying the full premium?
- How much experience to they have in personal lines coverages?
- Are all drivers listed on the coverage quote?
- Are they primarily personal or commercial lines agents in Fort Collins?
When finding a good Fort Collins insurance agent, it helps to know the two different agency structures and how they can service your needs differently. Insurance agents in Fort Collins are either independent agents or exclusive agents. Either can properly insure your vehicles, but we need to point out how they differ since it could factor into your agent selection.
Exclusive insurance agents have only one company to place business with such as State Farm, Allstate, and Farm Bureau. Exclusive agents cannot compare rates from other companies so they are skilled at selling on more than just price. Exclusive agencies are usually quite knowledgeable on what they offer and that allows them to sell at a higher price point.
Shown below are exclusive agencies in Fort Collins that can give you rate quotes.
Independent Insurance Agents
Independent insurance agents can quote rates with many companies and that is an advantage because they can write policies through many companies and potentially find a lower price. If you want to switch companies, they simply move the coverage in-house which makes it simple for you.
When comparing insurance rates, it's recommended you get insurance quotes from a couple of independent agencies to have the best price comparison.
Shown below are Fort Collins independent insurance agencies that can give you price quote information.
Colorado - B W Insurance Agency Inc
1075 W Horsetooth Rd # 106 - Fort Collins, CO 80526 - (970) 223-0924 - View Map
You just read a lot of tips how to compare Chrysler 300 insurance premium rates in Fort Collins. The key concept to understand is the more price quotes you have, the better your chances of lowering your prices. Consumers could even find that the most savings is with the smaller companies. Some small companies may have significantly lower prices on certain market segments than their larger competitors like Allstate, GEICO and Progressive.
A few companies do not provide internet price quotes and usually these regional carriers provide coverage only through independent insurance agents. Cheaper car insurance in Fort Collins can be bought on the web in addition to many Fort Collins insurance agents, and you should compare rates from both in order to have the best chance of saving money.
More information can be read on the following sites:
- Eight Auto Insurance Myths (Insurance Information Institute)
- What Auto Insurance is Cheapest in Pueblo, Colorado? (FAQ)
- Who Has Affordable Auto Insurance for Active Military in Colorado? (FAQ)
- How Much is Auto Insurance for a Chevrolet Equinox in Colorado? (FAQ)
- What Auto Insurance is Cheapest for Nurses in Colorado? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for 4x4 Vehicles in Colorado? (FAQ)
- Side Impact Crash Tests (iihs.org)
- State Car Insurance Guides (GEICO)
- Anti-Lock Brake FAQ (iihs.org)