Did you fall for a flashy sales pitch and buy an expensive insurance policy? Believe me when I say many consumers are feeling buyer's remorse and feel like there's no way out.
Unbelievable but true according to a study the vast majority of consumers have remained with the same insurance company for more than four years, and nearly 40% of drivers have never compared rates with other companies. Drivers in Colorado Springs can cut their rates by roughly 35% a year, but they don't believe the amount of money they would save if they switch to a new company.
Consumers have so many insurance companies to pick from, and although it's nice to have a choice, it can be more difficult to find the lowest cost provider for Acura RDX insurance in Colorado Springs.
Locating the most cost-effective insurance policy in Colorado Springs is quite easy if you know the best way to do it. Nearly each driver who needs lower cost insurance stands a good chance to be able to cut their insurance bill. But Colorado car owners can benefit from knowing how insurance companies sell online and use it to your advantage.
Insurance Premium Influencing Factors
A large part of saving on auto insurance is knowing the factors that aid in calculating your premiums. If you have a feel for what determines base rates, this allows you to make educated decisions that could result in much lower annual insurance costs.
The items below are some of the items used by companies to determine your premiums.
Always keep your policy in place - Driving with no insurance can get your license suspended and auto insurance companies will penalize you for letting your insurance expire. And not only will your rates increase, the inability to provide proof of insurance will get you a license revocation or jail time.
Cut prices and deter theft - Choosing a vehicle with an alarm system can get you a discount on your auto insurance. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping your car from being stolen.
Extra policy coverages can add up - Policies have extra coverages that sound like a good idea at the time but may not be useful. Things like rental car coverage, better glass coverage, and term life insurance may not be needed and are just wasting money. They may sound like good ideas when deciding what coverages you need, but if they're wasting money remove them from your policy.
Bump up deductibles to lower rates - Comprehensive and collision coverage deductibles are the amount of money you are willing to pay out-of-pocket if a covered claim is submitted. Coverage for physical damage, aka comp and collision, is used to repair damage to your car. Some examples of claims that would be covered are a windshield broken by a bird, damage from fire, and having a roll-over accident. The more the insured is willing to pay, the lower your rates will be.
Combine policies and save money - Some insurers provide discounts to buyers that purchase more than one policy. It's known as a multi-policy discount. Even with this discount applied, it's still a good idea to compare Acura RDX rates in Colorado Springs to ensure the best deal.
Loss statistics for an Acura RDX - Insurers analyze the history of losses to help determine prices. Models that have higher loss trends will have higher rates.
The table below outlines the insurance loss data for Acura RDX vehicles. For each coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is represented as 100. Values that are under 100 imply a favorable loss record, while values that are 100 or greater indicate higher probability of having a loss or an increased chance of larger losses than average.
Acura RDX Insurance Claim Statistics
|Specific Acura Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Acura RDX 4dr 2WD||64||75||57||67||67||71|
|Acura RDX 4dr 4WD||68||79||79||68||66||60|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
To get affordable Acura RDX insurance quotes, there a variety of ways to compare rate quotes from different companies. The easiest way by far to find the cheapest Acura RDX insurance rates is to jump online and get quotes.
Comparison shopping quotes online is easy and it makes it obsolete to actually drive to insurance agencies in your area. Doing it all online eliminates this option unless you have a need for the extra assistance of an agent trained in personal lines coverage. If you prefer, some companies allow you to comparison shop your insurance online and get advice from an agent in your area.
Just keep in mind that comparing more prices helps improve the odds of finding the best price. Some insurance companies are not set up to provide price estimates online, so you should also compare quotes on coverage from those companies, too.
The providers in the list below are ready to provide free quotes in Colorado Springs, CO. If several companies are displayed, we recommend you visit two to three different companies in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RDX Technology Package 2WD||$210||$416||$404||$24||$120||$1,174||$98|
|RDX Technology Package AWD||$264||$556||$338||$20||$102||$1,280||$107|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rates do not factor in garaging location in Colorado Springs which can lower or raise coverage rates greatly.
Difference between liability only and full coverage rates
The illustration below shows the difference between Acura RDX insurance rates with and without physical damage coverage. The premiums assume a clean driving record, no claims, $1,000 deductibles, single male driver, and no discounts are factored in.
Guidelines for eliminating full coverage
There is no clear-cut rule of when to eliminate comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let's say your Acura RDX claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after paying your deductible. If you are paying more than $400 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are a few cases where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
Three reasons to not skimp on car insurance
Despite the fact that car insurance is not cheap in Colorado Springs, insurance is required in Colorado but also provides important benefits.
First, just about all states have minimum mandated liability insurance limits which means the state requires a minimum amount of liability 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.
Second, if you have a lien on your car, almost all lenders will have a requirement that you carry insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your Acura for a lot more money and force you to pay for the expensive policy.
Third, car insurance preserves your vehicle and your assets. Insurance will also pay for medical expenses for yourself as well as anyone injured by you. Liability insurance will also pay attorney fees if you are sued as the result of an accident. If you have damage to your Acura as the result of the weather or an accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your RDX more than cancel out the cost, specifically if you ever have a liability claim. But the average American driver overpays more than $810 a year so it's important to compare rates at least once a year to make sure the price is not too high.
Get cheaper Acura RDX insurance in Colorado Springs with discounts
Companies that sell car insurance don't list all their discounts very well, so here is a list some of the best known as well as some of the hidden discounts that may be available.
- Multi-line Discount - Not all companies offer life insurance, but some may give you lower premium rates if you buy auto and life insurance together.
- Discounts for Responsible Drivers - Drivers without accidents could pay up to 40% less compared to rates paid by drivers with frequent claims.
- Discount for Good Grades - Excelling in school can earn a discount of 20% or more. You can use this discount normally up to age 25.
- Accident Waiver - This isn't a discount exactly, but a few companies such as GEICO, State Farm, and Progressive will let one accident slide without the usual rate increase if your claims history is clear before the accident.
- Professional Memberships - Affiliation with certain professional organizations is a good way to get lower rates on your policy.
- Early Switch Discount - Some larger companies provide a discount for switching companies prior to your current RDX insurance policy expiring. You may see this discount when you get Colorado Springs auto insurance quotes online.
- Discounts for Multiple Vehicles - Buying insurance for several vehicles with the same company can get a discount for every vehicle.
- Low Mileage - Low mileage vehicles can qualify you for lower prices on the low mileage vehicles.
- Driver's Education for Students - Have your child take driver's ed class as it can save substantially.
- Save over 55 - Older drivers may be able to get a discount up to 10%.
Discounts reduce rates, but you should keep in mind that most credits do not apply the the whole policy. Most only reduce individual premiums such as comprehensive or collision. Just because it seems like you could get a free insurance policy, it just doesn't work that way.
Popular insurance companies and a partial list of their discounts are detailed below.
- State Farm may offer discounts for multiple policy, passive restraint, good student, safe vehicle, Drive Safe & Save, accident-free, and Steer Clear safe driver discount.
- American Family policyholders can earn discounts including multi-vehicle, bundled insurance, air bags, early bird, Steer into Savings, TimeAway discount, and accident-free.
- GEICO includes discounts for air bags, driver training, anti-lock brakes, emergency military deployment, and anti-theft.
- 21st Century discounts include good student, driver training, automatic seat belts, early bird, anti-lock brakes, and theft prevention.
- Progressive offers discounts including homeowner, multi-policy, online quote discount, multi-vehicle, and good student.
When getting free Colorado Springs auto insurance quotes, it's a good idea to all the companies to give you their best rates. Some of the discounts discussed earlier might not apply in your state. To see insurance companies who offer free Acura RDX insurance quotes in Colorado, follow this link.
Comparing quotes from local Colorado Springs car insurance agents
Certain consumers just want to visit with an insurance agent and that is recommended in a lot of cases An additional benefit of getting online price quotes is that you can find cheap rate quotes but still work with a licensed agent.
After filling out this quick form, your information gets sent to agents in your area who will return price quotes for your insurance coverage. It makes it easy because there is no need to leave your house because prices are sent to you instantly. You can most likely find cheaper rates and an insurance agent to talk to. In the event you want to get a rate quote from a particular provider, you would need to jump over to their website to submit a rate quote request.
Picking the best insurer is decision based upon more than just the premium amount. These are some questions your agent should answer.
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Are you getting all the discounts the company offers?
- Will your rates increase after a single accident?
- Do they write coverage based solely on cost?
- Are there any extra charges for paying monthly?
- Is there a Errors and Omissions policy in force?
- Do they have designations such as AIC, CPCU, or CIC?
- Do they receive special compensation for putting your coverage with one company over another?
Below is a short list of auto insurance companies in Colorado Springs willing to provide price quotes for Acura RDX insurance in Colorado Springs.
Jeff Schmidt - State Farm Insurance Agent
1230 Tenderfoot Hill Rd Ste. 200 - Colorado Springs, CO 80906 - (719) 445-0070 - View Map
Persistence is the key to cheap rates
We just presented many ideas to shop for Acura RDX insurance online. The key thing to remember is the more companies you get auto insurance rates for, the better likelihood of getting the cheapest Acura RDX rate quotes. You may even be surprised to find that the biggest savings come from a lesser-known regional company. They often have lower auto insurance rates on specific markets than their larger competitors like State Farm, GEICO and Nationwide.
When buying insurance coverage, it's not a good idea to reduce needed coverages to save money. In many cases, consumers will sacrifice physical damage coverage to discover at claim time that the few dollars in savings costed them thousands. The ultimate goal is to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
Budget-conscious Acura RDX insurance is available on the web in addition to many Colorado Springs insurance agents, and you should compare rates from both so you have a total pricing picture. Some insurance companies may not have online price quotes and many times these small, regional companies sell through independent insurance agencies.
- Coverage Information (Progressive Insurance)
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- Electronic Stability Control FAQ (iihs.org)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Neck Injury FAQ (iihs.org)