Have you had enough of trying to scrape together enough money to keep your car insured? Your situation is no different than the majority of other consumers in Colorado.
Shocking but true, the vast majority of consumers have been with the same company for well over three years, and about 40% of consumers have never taken the time to shop around. Many consumers in Colorado Springs could cut their rates by roughly 35% a year by just comparing rate quotes, but they don't know the large savings they would see if they switched to a more affordable policy.
You have multiple insurers to buy insurance from, and although it's nice to be able to choose, it makes it harder to compare rates and find the lowest cost car insurance.
It's important to shop coverage around yearly due to the fact that insurance rates are constantly changing. Even if you think you had the best premium rates on Fiat 500 insurance in Colorado Springs a few years ago you will most likely find a better price today. Block out anything you think you know about car insurance because it's time to teach you the only way to find lower rates on car insurance.
Locating the most cost-effective auto insurance policy in Colorado Springs is much easier if you have a good place to start. Just about every driver who has to buy auto insurance stands a good chance to find a lower-cost company. Nevertheless, Colorado vehicle owners must comprehend the methods companies use to determine what you pay.
Insurance quotes and discounts
Not many people think insurance is cheap, but there are discounts available that you may not even be aware of. Certain reductions will be credited when you purchase, but occasionally some discounts must be inquired about before you get the savings.
- Auto/Home Discount - When you combine your homeowners and auto insurance and insure them both with the same insurance company you may earn at least 10% off all policies.
- Professional Organizations - Joining a professional or civic organization could trigger savings on your policy.
- New Car Discount - Insuring a vehicle that is new can be considerably cheaper since newer models are generally safer.
- Theft Prevention Discount - Cars, trucks, and SUVs that have factory anti-theft systems are stolen with less frequency and that can save you a little bit as well.
- Driver Training Discounts - Passing a defensive driver course could possibly earn you a 5% discount and easily recoup the cost of the course.
- Early Signing - Some insurance companies give discounts for switching companies prior to the expiration date on your current 500 insurance policy. This discount can save up to 10%.
- Pay Upfront and Save - If you pay your entire premium ahead of time rather than spreading payments over time you could save up to 5%.
- Discounts for Cautious Drivers - Insureds without accidents may receive a discount up to 45% than their less cautious counterparts.
- Student in College - College-age children who attend college more than 100 miles from Colorado Springs and do not have a car could get you a discount.
We need to note that some of the credits will not apply to your bottom line cost. Most only apply to specific coverage prices like comprehensive or collision. Just because it seems like it's possible to get free car insurance, it just doesn't work that way.
A few of the larger companies and their offered discounts are detailed below.
- GEICO may have discounts that include driver training, emergency military deployment, military active duty, daytime running lights, five-year accident-free, and federal employee.
- USAA offers discounts including multi-vehicle, good student, multi-policy, driver training, family discount, annual mileage, and new vehicle.
- Progressive offers premium reductions for continuous coverage, homeowner, multi-vehicle, online quote discount, and online signing.
- American Family discounts include defensive driver, multi-vehicle, air bags, mySafetyValet, accident-free, and Steer into Savings.
- Esurance offers discounts for multi-car, emergency road assistance, defensive driver, multi-policy, good student, and anti-lock brakes.
- Farmers Insurance may include discounts for distant student, early shopping, multi-car, electronic funds transfer, youthful driver, switch companies, and pay in full.
- State Farm has discounts for defensive driving training, accident-free, safe vehicle, good student, multiple autos, and multiple policy.
If you are trying to find low cost Colorado Springs car insurance quotes, ask each company the best way to save money. Some of the discounts discussed earlier might not apply in Colorado Springs. For a list of insurance companies that offer discounts in Colorado, click here to view.
To find inexpensive Colorado Springs car insurance quotes, there are several ways to compare quotes from companies that offer insurance in Colorado. The easiest way to find competitive Fiat 500 insurance rates is to use the internet to compare rates.
Comparing rate quotes online is fast and free, and it replaces the need to drive to different Colorado Springs agent offices. Shopping for insurance online eliminates the need for an insurance agent unless your situation requires the trained advice that only a licensed agent can provide. Although you can price shop online but purchase the actual policy in an agency.
When comparison shopping, comparing a large number of companies increases the chance that you will find lower pricing. Some insurance companies are not set up to provide Colorado Springs 500 insurance quotes online, so it's important to also get price estimates from the smaller companies as well.
The companies in the list below are our best choices to provide price quotes in Colorado. If several companies are displayed, we suggest you visit two to three different companies in order to find the cheapest rates.
When do I need an agent's advice?
When buying insurance from an agent or online, there really is no cookie cutter policy. Everyone's situation is unique.
Here are some questions about coverages that can help discover whether your personal situation could use an agent's help.
- Why do I have to buy liability insurance?
- Why does it cost so much to insure a teen driver in Colorado Springs?
- Are combined or split liability limits better?
- Do I pay less if my vehicle is kept in my garage?
- Does my insurance cover a custom paint job?
- Am I covered when driving in Canada or Mexico?
- What is medical payments coverage?
- I have health insurance so do I need medical payments coverage?
If you can't answer these questions, you may need to chat with a licensed insurance agent. If you don't have a local agent, fill out this quick form.
Local insurance agents
A lot of people would prefer to sit down with an agent and there is nothing wrong with that. The biggest benefit of getting free rate quotes online is you can get cheap rate quotes and still have an agent to talk to.
By using this simple form, your information is instantly submitted to participating agents in Colorado Springs that can provide free Colorado Springs car insurance quotes for your car insurance coverage. It simplifies rate comparisons since you won't have to search for any insurance agencies because quoted prices will be sent directly to you. You can find lower rates AND a local agent. If you wish to quote rates from a particular provider, you can always go to their quote page and fill out the quote form the provide.
Choosing the best provider should depend on more than just a cheap quote. The following questions are important to ask.
- Does the agent recommend any additional coverage?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- How often do they review policy coverages?
- Is the quote a firm price?
- Do they reduce claim amounts on high mileage vehicles?
- Do they have cheaper tiers of coverage?
What type of Colorado Springs car insurance agent is right for you?
If you would like to find a reputable agency, it helps to know the two different types of agencies and how they are slightly different. Agencies in Colorado Springs may be either exclusive or independent.
Exclusive Car Insurance Agencies
These agents can only place business with one company and examples are Allstate, State Farm and Farmers Insurance. They usually cannot provide other company's prices so they really need to provide good service. These agents receive extensive training on the products they sell which aids in selling service over price.
The following is a short list of exclusive insurance agents in Colorado Springs willing to provide rate quotes.
Independent Agents (or Brokers)
Agents that elect to be independent are not required to write business for one company and that gives them the ability to insure with many different companies and find you cheaper rates. To move your coverage to a new company, they simply switch companies in-house and you don't have to find a new agent. When searching for an agent, you need to include price quotes from a couple of independent agencies to have the most options to choose from.
The following is a short list of independent insurance agents in Colorado Springs willing to provide price quotes.
Nationwide Insurance: Jeffrey Lloyd Sudermann Agency
6455 N Union Blvd #104 - Colorado Springs, CO 80918 - (303) 974-7676 - View Map
ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave - Colorado Springs, CO 80904 - (719) 473-6262 - View Map
Car insurance does more than just repair your car
Even though it can be expensive, buying car insurance serves several important purposes.
- Most states have compulsory liability insurance requirements which means the state requires specific minimum amounts of liability coverage in order to drive the car legally. 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 you bought your Fiat with a loan, most lenders will stipulate that you buy full coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the bank may buy a policy for your Fiat at a more expensive rate and make you pay much more than you were paying before.
- Insurance protects both your Fiat and your personal assets. It will also cover most medical and hospital costs for not only you but also any passengers injured in an accident. Liability insurance will also pay attorney fees if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to have it repaired.
The benefits of carrying enough insurance are without a doubt worth the cost, particularly when you have a large claim. The average driver in Colorado is overpaying over $865 each year so we recommend shopping around each time the policy renews to be sure current rates are still competitive.
Car insurance coverages explained
Having a good grasp of your policy aids in choosing the best coverages for your vehicles. The terms used in a policy can be difficult to understand and reading a policy is terribly boring.
Collision coverage - This coverage covers damage to your 500 caused by collision with another car or object. A deductible applies and then insurance will cover the remainder.
Collision coverage protects against claims like crashing into a building, damaging your car on a curb and hitting a parking meter. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible on your 500 to get cheaper collision coverage.
Comprehensive coverages - Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as a tree branch falling on your vehicle, fire damage and hitting a bird. The maximum amount you'll receive from a claim is the ACV or actual cash value, so if it's not worth much more than your deductible consider removing comprehensive coverage.
Coverage for medical payments - Med pay and PIP coverage pay for expenses for things like X-ray expenses, EMT expenses, rehabilitation expenses, dental work and pain medications. They can be utilized in addition to your health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Liability coverages - Liability insurance provides protection from injuries or damage you cause to people or other property in an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/15 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $15,000 for damage to vehicles and property.
Liability coverage protects against claims such as court costs, emergency aid, bail bonds and attorney fees. The amount of liability coverage you purchase is up to you, but buy higher limits if possible. Colorado state minimum liability requirements are 25/50/15 but it's recommended drivers buy higher limits.
Uninsured and underinsured coverage - Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle's damage.
Since many Colorado drivers only purchase the least amount of liability that is required (25/50/15 in Colorado), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Quote more and you will save more
Throughout this article, we presented some good ideas how to find cheaper Fiat 500 insurance in Colorado Springs. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding affordable Colorado Springs car insurance quotes. You may even find the lowest priced car insurance comes from a company that doesn't do a lot of advertising.
As you shop your coverage around, don't be tempted to skimp on critical coverages to save a buck or two. In too many instances, consumers will sacrifice full coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. Your objective should be to purchase a proper amount of coverage at the best price while not skimping on critical coverages.
More affordable car insurance in Colorado Springs is attainable from both online companies in addition to many Colorado Springs insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some insurance companies may not have rates over the internet and many times these smaller companies work with independent insurance agents.
More tips and info about car insurance is available by following these links:
- State Car Insurance Guides (GEICO)
- How Much are Colorado Auto Insurance Rates for Teenage Males? (FAQ)
- Who Has Cheap Auto Insurance in Colorado? (FAQ)
- Who Has Affordable Car Insurance Rates for Safe Drivers in Colorado? (FAQ)
- How Much are Colorado Auto Insurance Quotes for Drivers with a Bad Driving Record? (FAQ)
- How Much is Auto Insurance for Hybrid Vehicles in Colorado? (FAQ)
- How Much are Car Insurance Quotes for a School Permit in Colorado? (FAQ)
- Collision Insurance Coverage (Nationwide)
- Speed and Speed Limit FAQ (iihs.org)
- Get the Right Protection (InsureUonline.org)
- Auto Theft Statistics (Insurance Information Institute)