Do you want to learn how to find lower-priced Hyundai Veloster insurance in Colorado Springs? Are you irritated from trying to scrape together enough money to pay high car insurance rates every month? You are in the same boat as millions of other drivers.
A study showed that nearly 70% of drivers have bought car insurance from the same company for at least the last four years, and 38% of customers have never compared rate quotes at all. Most drivers in Colorado Springs can save $605 each year by just comparing quotes, but most just don't grasp how much money they would save if they swap their current policy for a cheaper one.
You have multiple auto insurance companies to choose from, and though it is a good thing to have a choice, too many choices makes it more difficult to find the best rates for Hyundai Veloster insurance in Colorado Springs.
When shopping for low cost Colorado Springs car insurance quotes, there are a couple of ways of comparing price quotes from all the different companies. The simplest method to find affordable insurance rates is to get quotes online.
Online shopping is fast and free, and it makes it obsolete to waste gas driving to insurance agents' offices. Doing it all online can eliminate the need for a local agent unless you're the type of person who wants the trained advice of a local Colorado Springs agent. It is possible to comparison shop your insurance online and still use a local agent. It's important to know that quoting more gives you a better chance of getting more affordable rates. Not every company does online rate quotes, so it's important to compare price estimates on coverage from those companies, too.
The auto insurance companies shown below are ready to provide comparison quotes in Colorado. If multiple providers are shown, it's a good idea that you click on several of them to get the best price comparison.
Insurance is not optional but you don't have to overpay
Despite the fact that insurance is not cheap in Colorado Springs, insuring your vehicle is required by state law in Colorado and it also provides benefits you may not be aware of.
- Almost all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability insurance coverage 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 you took out a loan on your Hyundai, more than likely the lender will require that you have insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank may buy a policy for your Hyundai at a significantly higher premium and force you to pay much more than you were paying before.
- Insurance preserves not only your Hyundai but also your financial assets. It also can pay for hospital and medical expenses that are the result of an accident. Liability coverage will also pay attorney fees if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car greatly outweigh the cost, especially for larger claims. According to a recent study, the average American driver is currently overpaying as much as $850 per year so you should quote rates at least once a year to be sure current rates are still competitive.
The Hyundai Veloster Insurance Premium Equation
The best way to find cheaper auto insurance is to take a look at the factors that aid in calculating your auto insurance rates. When consumers understand what controls the rates you pay, this enables informed choices that may reward you with lower rates. Many different elements are used in the calculation when you get a price on insurance. Some factors are common sense like a motor vehicle report, but other factors are less apparent such as your credit history or your commute time.
- An active auto insurance claims history can cost more - If you are a frequent claim filer, you can look forward to increased rates or even have your policy non-renewed. Insurance companies in Colorado award the best rates to policyholders who only file infrequent claims. Your insurance policy is intended for more catestrophic claims.
- Teenage drivers are expensive to insure - Teenage drivers in Colorado are statistically proven to be more careless with other occupants in the car and because of this, their auto insurance rates are much higher. Older, more experienced drivers are proven to be safer behind the wheel, statistically cause fewer accidents, and get fewer tickets.
- Only buy what you need - Insurance policies have a lot of extra add-on coverages that can add up if you don't pay attention. Coverages like coverage for rental cars, towing coverage, and term life insurance are examples of these. These may sound like a good investment when deciding what coverages you need, but your needs may have changed so remove them and pocket the money.
- Low mileage costs less - The more you drive your Hyundai in a year's time the more you'll pay to insure your vehicle. Most companies charge rates partially by how you use the vehicle. Cars and trucks that have low annual miles receive better premium rates than those that get driven frequently. It's a good idea to make sure your auto insurance coverage states the correct driver usage. Incorrect rating for your Veloster is throwing money out the window.
- Pay less with a high IIHS safety rating - Vehicles that have high safety ratings get lower rates. These vehicles result in less severe injuries and fewer injuries translates into fewer and smaller insurance claims and lower rates for you. If your Hyundai Veloster has at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may pay a lower rate.
- Liability coverage claims can be big - Your policy's liability coverage kicks in in the event that you are determined to be liable for damages caused by your negligence. This coverage provides you with a defense in court to defend your case. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
- Loss statistics for a Hyundai Veloster - Insurers use claims history to help set a rate to offset losses. Models that have a trend towards higher claim severity or frequency will cost more to insure.
The next table illustrates the historical loss data for Hyundai Veloster vehicles. For each coverage type, the claim probability for all vehicles, regardless of manufacturer or model, is equal to 100. Percentages below 100 imply a favorable loss record, while values that are 100 or greater indicate a higher chance of having a claim or tendancy to have larger claims.
Hyundai Veloster Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Veloster 109 112 88 112 129 116 Hyundai Veloster Turbo 116 87 104 98 89 101
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Affordable Colorado Springs car insurance rates with discounts
Auto insurance companies don't always advertise all available discounts very clearly, so the list below details a few of the more common and also the lesser-known discounts you could be receiving when you buy Colorado Springs car insurance online.
- Own a Home - Owning your own home or condo can earn you a little savings since home ownership shows financial diligence.
- Pay Early and Save - By paying your policy upfront instead of paying each month you can avoid the installment charge.
- Driver's Education for Students - Make teen driver coverage more affordable by requiring them to enroll and complete driver's education in school or through a local driver safety program.
- Government Employee Discount - Simply working for the federal government may qualify for a discount when you quote Colorado Springs car insurance with certain companies.
- Discount for New Cars - Insuring a vehicle that is new can cost up to 25% less compared to insuring an older model.
- College Student - Any of your kids who attend college more than 100 miles from Colorado Springs and don't have a car can receive lower rates.
- Military Discounts - Having a family member in the military could mean lower rates.
- E-sign - A handful of car insurance companies will provide an incentive get Colorado Springs car insurance online.
- Seat Belts Save - Using a seat belt and requiring all passengers to wear their seat belts can save 10% or more on the medical payments or PIP coverage costs.
A little disclaimer on discounts, some of the credits will not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Even though it may seem like you would end up receiving a 100% discount, insurance companies wouldn't stay in business. But all discounts will help lower the amount you have to pay.
To locate providers who offer discounts in Colorado, click here.
There's no such thing as the perfect car insurance policy
When buying the right insurance coverage, there is no perfect coverage plan. Your needs are not the same as everyone else's and your car insurance should be unique as well. Here are some questions about coverages that may help you determine if you might need professional guidance.
- Is my custom stereo system covered?
- Is pleasure use cheaper than using my Hyundai Veloster to commute?
- What states are considered no-fault?
- Can I afford to pay high deductible claims out of pocket?
- Can I still get insurance after a DUI?
- How much liability coverage do I need in Colorado?
- Are rock chip repairs covered?
- Do I pay less if my vehicle is kept in my garage?
- Does insurance cover damages from a DUI accident?
If you're not sure about those questions, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier
Shop online but buy locally
Many people just want to buy from a local agent and that is just fine! One of the great benefits of comparing rate quotes online is the fact that drivers can get cheaper rates and still buy from a local agent. Putting coverage with small agencies is still important in Colorado Springs.
After completing this quick form, the quote information is instantly submitted to companies in Colorado Springs who will give you bids to get your business. There is no reason to even leave your home because quoted prices will be sent directly to your email. You can find the lowest rates without requiring a lot of work. If you wish to get a comparison quote for a specific company, feel free to find their quoting web page and complete a quote there.
Pick the best auto insurance agent in Colorado Springs for you
If you are wanting to purchase auto insurance from a reputable insurance agent or broker, you must know there are a couple types of agencies and how they function. Agents in Colorado Springs are categorized either exclusive or independent (non-exclusive).
Independent Auto Insurance Agencies or Brokers
Agents of this type do not sell for just one brand so as a result can place your coverage amongst many companies and potentially find a lower price. If prices rise, the business is moved internally which makes it simple for you. If you are comparing auto insurance prices, it's recommended you compare prices from several independent agencies to get the best comparison.
Shown below is a small list of independent agencies in Colorado Springs that can give you cheap rate quotes.
Exclusive Insurance Agents
These type of agents work for only one company and examples are Farmers Insurance or State Farm. They generally cannot provide prices from multiple companies so always compare other rates. They receive a lot of sales training on sales techniques which helps overcome the inability to quote other rates.
Listed below are exclusive agents in Colorado Springs that can give you price quote information.
American Family Insurance - Michael Brandl Agency Inc.
1965 Dominion Way Ste 120 - Colorado Springs, CO 80918 - (719) 630-7557 - View Map
American Family Insurance - Mario Aragon Agency Inc.
1135 E Fillmore St - Colorado Springs, CO 80907 - (719) 570-0707 - View Map
Finding the right auto insurance agent is decision based upon more than just a cheap quote. Here are some questions you should ask.
- Do they have 24-hour customer assistance?
- How long have they worked with personal auto insurance coverage?
- What kind of financial rating does the company have?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Can you contact them at any time?
Frequent quotes can save
We just covered many tips how you can shop for Hyundai Veloster insurance online. The most important thing to understand is the more companies you get prices for, the better your chances of lowering your prices. You may even be surprised to find that the best premium rates are with some of the lesser-known companies. Regional companies may cover specific market segments cheaper than the large multi-state companies such as GEICO and State Farm.
A few companies may not provide internet price quotes and many times these small insurance companies work with independent agencies. Affordable Hyundai Veloster insurance in Colorado Springs is available online as well as from independent agents in Colorado Springs, so you should compare both to get a complete price analysis.
More information can be found below:
- Child Safety FAQ (iihs.org)
- What Insurance is Cheapest for a Subaru Forester in Colorado? (FAQ)
- Who Has Cheap Auto Insurance in Colorado? (FAQ)
- Which Company has the Cheapest Car Insurance in Northglenn, Colorado? (FAQ)
- What is the Best Auto Insurance in Boulder, Colorado? (FAQ)
- How Much are Colorado Auto Insurance Quotes for Drivers with a Bad Driving Record? (FAQ)
- Event Data Recorders FAQ (iihs.org)
- Medical Payments Coverage (Liberty Mutual)