How long have you put off shopping around for the cheapest Audi R8 insurance in Colorado Springs? Overpriced car insurance in Colorado Springs can draw down your budget and put the squeeze on your family's finances. Doing a rate comparison is free, only takes a few minutes, and is a good way to make sure you're not throwing money away.
A recent study showed that 70% of consumers have bought car insurance from the same company for over three years, and almost half have never shopped around. Many drivers in America could save themselves almost 46.5% a year just by comparing rates, but most undervalue the rate savings if they switch to a new company.
People have many car insurance companies to buy insurance from, and although it's nice to have a choice, it can be more challenging to find the best rates for Audi R8 insurance in Colorado Springs.
Cheapest companies for Audi R8 insurance
The companies in the list below provide free quotes in Colorado. If multiple companies are shown, we suggest you visit several of them to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|R8 4.2 Quattro||$656||$1324||$460||$28||$138||$2,606||$217|
|R8 4.2 Quattro||$420||$894||$352||$20||$106||$1,792||$149|
|R8 5.2 Quattro 10Cyl||$484||$1116||$338||$20||$100||$2,058||$172|
|R8 5.2 Quattro 10Cyl||$494||$1218||$426||$26||$128||$2,292||$191|
|Get Your Own Custom Quote Go|
Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Premium amounts do not factor in vehicle garaging location which can revise prices noticeably.
Price comparison of only insuring for liability
The illustration below illustrates the comparison of Audi R8 auto insurance costs when comparing full coverage to state minimum liability only. The data assumes no tickets, no at-fault accidents, $250 deductibles, married female driver, and no discounts are applied.
When to stop paying for full coverage
There is no exact rule to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let's pretend your Audi R8 settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $6,000 after the policy deductible has been paid. If it's costing in excess of $600 a year to have full coverage, then you might consider buying liability only.
There are some conditions where buying only liability insurance is not advised. If you haven't satisfied your loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you can't afford to buy a different vehicle in the even your car is totaled, you should not opt for liability only.
Males versus Females
The illustration below compares Audi R8 annual premium costs for male and female drivers. The data assumes no claims or driving citations, full physical damage coverage, $1,000 deductibles, marital status is single, and no policy discounts are applied.
Get cheaper rates by earning discounts
Some insurers don't necessarily list every discount they offer very well, so the following list contains both well-publicized and also the lesser-known credits that you can use to lower your rates.
- Resident Student - Youth drivers living away from Colorado Springs attending college and do not take a car to college could qualify for this discount.
- Passive Restraints - Cars that have air bags may get savings of 20 to 30 percent.
- Government Employees - Employees or retirees of the government can save as much as 8% with some car insurance companies.
- Seat Belts Save - Drivers who require all occupants to use a seat belt may be able to save a few bucks off the personal injury premium cost.
- Accident Forgiveness Coverage - This one is not really a discount per se, but some companies like GEICO, Allstate and Liberty Mutual will forgive one accident without the usual rate increase if your claims history is clear prior to the accident.
- Drive Safe and Save - Drivers who don't get into accidents can save up to 40% or more on their Colorado Springs auto insurance quote than less cautious drivers.
- No Claims - Insureds with no claims or accidents are rewarded with significantly better rates on Colorado Springs auto insurance quote as compared to bad drivers.
- Drivers Education - Require your teen driver to enroll and complete driver's education in school or through a local driver safety program.
- Payment Discounts - If you can afford to pay the entire bill rather than paying in monthly installments you could save 5% or more.
- Good Student Discount - Maintaining excellent grades could provide a savings of up to 20% or more. Many companies even apply the discount to college students well after school through age 25.
Just know that most discount credits are not given to all coverage premiums. The majority will only reduce the cost of specific coverages such as liability, collision or medical payments. So when the math indicates you can get free auto insurance, insurance companies wouldn't stay in business.
Insurance companies who may offer most of these discounts may include but are not limited to:
When getting free Colorado Springs auto insurance quotes, it's a good idea to every company which discounts they offer. A few discounts may not be offered in Colorado Springs. To find insurers who offer online Audi R8 insurance quotes in Colorado, follow this link.
Smart Consumers Know How to Get Car Insurance More Affordably
A large part of saving on car insurance is knowing some of the elements that go into determining your car insurance rates. If you have a feel for what positively or negatively impacts your premiums, this enables you to make decisions that may result in much lower annual insurance costs.
Shown below are a partial list of the pieces companies use to determine your rate level.
- Getting married can save you money - Your spouse may cut your premiums on your car insurance bill. It means you're more stable financially it has been statistically shown that married drivers tend to file fewer claims.
- Only buy what you need - Policies have optional add-on coverages that you can get tricked into buying but may not be useful. Coverages like rental car reimbursement, death and dismemberment, and additional equipment coverage may be wasting your money. These coverages may sound good when talking to your agent, but now you might not need them so get rid of them and save.
- Lower rates by increasing comp and collision deductibles - Physical damage coverage, also called 'full coverage', protects your Audi from damage. Some examples of covered claims would be a broken side mirror, flood damage, and damage from a fallen tree branch. Comprehensive and collision coverage deductibles define how much you are willing to pay if a covered claim is submitted. The more expense you have to pay, the lower your rates will be.
- Premiums are impacted by vehicle performance - The performance level of the car you drive makes a huge difference in your rates. Due to the fact that the Audi R8 is a luxury sports car, rates will be up to twice as much when compared to the average rates in Colorado Springs. Lower performance four cylinder passenger models usually have the lowest rates, but other factors influence the final cost greatly.
- Bad drivers pay high premiums - Having a single ticket could increase your next policy renewal by twenty percent. Drivers who don't get tickets pay less for auto insurance compared to drivers with tickets. Drivers who have received severe violations such as DUI, reckless driving or excessive speeding may be required to prove financial responsibility with their state in order to prevent their license from being revoked.
- Premiums are affected by your address - Having an address in a small town can save you money when insuring your vehicles. Lower population means reduced accidents and a lower car theft rate. People who live in big cities have to deal with more traffic problems and longer commute times. More time commuting means higher likelihood of an accident.
- Your job is a factor - Occupational choices like fire fighters, executives and stock brokers are shown to have higher rates than average in part from intense work-related stress and long work hours. On the flip side, careers like farmers, athletes and retirees have lower than average premiums.
- Teenage drivers are expensive to insure - Young drivers in Colorado are known to be careless and easily distracted behind the wheel so car insurance rates are higher. Adding a teenage driver to your policy can be very expensive. More experienced drivers are more cautious drivers, cost insurance companies less in claims, and tend to be get fewer driving tickets.
Insurance agencies can help
Many drivers would rather get advice from a local agent and that is a personal choice. A nice benefit of comparing rates online is that you can find the best rates and still choose a local agent.
By using this simple form, the quote information is submitted to agents in your area who will give you bids for your insurance coverage. It simplifies rate comparisons since you won't have to contact any insurance agencies because quoted prices will be sent to the email address you provide. You can find lower rates without requiring a lot of work. If you wish to compare rates from a particular provider, feel free to go to their quote page and give them your coverage information.
Picking an provider should depend on more than just a cheap price quote. Some important questions to ask are:
- Will the company cover a rental car if your car is getting fixed?
- Who are their largest clients?
- Are they involved in claim handling?
- Are you getting all the discounts the company offers?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Do they get paid more for recommending certain coverages?
Different types of Colorado Springs auto insurance agents
When researching a good Colorado Springs insurance agent, you need to know there are two different types of agents and how they can quote your rates. Insurance agencies in Colorado Springs are classified as either independent or exclusive.
These agents are contracted to one company and examples are State Farm, AAA, and Liberty Mutual. These agents are unable to compare rates from other companies so you need to shop around if the rates are high. Exclusive agents are well trained in insurance sales which helps them compete with independent agents.
Listed below are exclusive insurance agencies in Colorado Springs who may provide you with comparison quotes.
American Family Insurance - Dean Skaret Agency Inc.
2340 Academy Blvd N - Colorado Springs, CO 80909 - (719) 597-4330 - View Map
Independent Agents (or Brokers)
Agents in the independent channel often have many company appointments and that is an advantage because they can write policies with lots of companies and find the cheapest auto insurance rates. If they find a lower price, your agent can switch companies and you won't have to switch agencies. If you are trying to find cheaper rates, we recommend you get insurance quotes from independent agents so that you can do a thorough price comparison.
The following is a list of independent insurance agents in Colorado Springs who can help you get comparison quotes.
Auto insurance ads are enticing
Auto insurance providers like State Farm, GEICO and Progressive continually stream ads in print and on television. They all seem to state the claim that drivers can save some big amount just by moving your policy. But how can every company offer you a better deal on Audi R8 insurance in Colorado Springs? This is the trick they use.
Companies have specific characteristics for the type of driver they prefer to insure. For example, this type of driver might be married and over the age of 30, has never had a claim, and drives a safe vehicle. Anyone who fits that profile will qualify for the lowest prices in Colorado Springs and will also save money with a new company.
Drivers who cannot meet the requirements will see higher rates and this can result in the customer buying from someone else. If you listen to the ad wording, they say "customers who switch" but not "everyone who gets a quote" save that much. This is how companies can truthfully make claims like that. Each company has different criteria, so you need to get as many free Colorado Springs auto insurance quotes as possible. It's impossible to know with any certainty which company will have the best prices at this point in time.
Persistence will pay off
We just covered many ideas to lower your Audi R8 insurance premium rates in Colorado Springs. It's most important to understand that the more companies you get prices for, the higher your chance of finding affordable Colorado Springs auto insurance quotes. You may even be surprised to find that the lowest priced auto insurance comes from a small local company. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as Allstate, GEICO and Progressive.
Some companies may not provide the ability to get quotes online and these regional carriers only sell through independent insurance agents. Lower-priced Audi R8 insurance in Colorado Springs can be purchased on the web and with local Colorado Springs insurance agents, and you should compare rates from both to get a complete price analysis.
When trying to cut insurance costs, it's a bad idea to buy poor coverage just to save money. In many instances, an insured dropped liability limits or collision coverage only to discover later that they should have had better coverage. Your focus should be to purchase plenty of coverage for the lowest price while not skimping on critical coverages.
For more information, feel free to browse these articles:
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Who Has Cheap Auto Insurance in Colorado? (FAQ)
- How Much are Auto Insurance Quotes for a Learners Permit in Colorado? (FAQ)
- Who Has Cheap Car Insurance Quotes for Unemployed Drivers in Colorado? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for a Chevrolet Cruze? (FAQ)
- How Much are Colorado Auto Insurance Quotes for Drivers with a Bad Driving Record? (FAQ)
- What Auto Insurance is Cheapest for Nurses in Colorado? (FAQ)
- All About Airbag Safety (State Farm)
- Property Damage Coverage (Liberty Mutual)
- Tools for Teen Driving Safety (State Farm)