Wish you could get out of an overpriced car insurance policy? Say no more because there are many Colorado Springs drivers thinking the same thing.
Remarkably, a study showed that about 70% of customers kept buying from the same company for at least the last four years, and about 40% of consumers have never shopped around. Many drivers in Colorado Springs could save 35% every year, but they assume it's a waste of time to shop around. Insurance companies such as State Farm, Allstate, GEICO and Progressive constantly bombard you with ad campaigns and consumers find it hard to see past the geckos and flying pigs and find the best price available.
It's smart to quote other rates every six months since prices tend to go up over time. Despite the fact that you may have had the best deal on Land Rover LR4 insurance in Colorado Springs a few years ago you can probably find a lower rate today. Forget all the misinformation about car insurance because you're about to learn the best way to find better coverage on Land Rover LR4 insurance in Colorado Springs at a better price.
If you're already insured or just want cheaper coverage, you can learn to find better prices while maximizing coverage. Locating the best rates in Colorado Springs can be easy if you know a few tricks. Smart buyers just have to understand the proper way to compare rates on the web.
Components of Your Land Rover LR4 Insurance Premiums
A large part of saving on insurance is knowing a few of the rating criteria that come into play when calculating your premiums. When you know what positively or negatively influences your rates, this allows you to make educated decisions that may result in lower rates.
Mileage impacts costs - The more miles you rack up on your Land Rover every year the higher the price you pay to insure it. The majority of insurers calculate prices determined by how the vehicle is used. Cars and trucks left parked in the garage qualify for better rates than vehicles that are driven to work every day. An incorrectly rated LR4 is throwing money out the window. Make sure your vehicle rating properly reflects annual mileage.
Small coverages can add up - There are many optional add-on coverages you can purchase on your LR4 policy. Coverage for things like coverage for rental cars, death and dismemberment, and extra life insurance coverage may be wasting your money. These may sound like a good investment when you first buy your policy, but your money might be better spent on other coverage so remove them and pocket the money.
Optional features impact insurance rates - Purchasing a vehicle with advanced anti-theft systems can earn a premium discount. Anti-theft devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent auto theft.
Performance makes a difference - The performance of the car, truck or SUV you are trying to find cheaper insurance for makes a substantial difference in determining your rates. The cheapest insurance rates will generally be found on the lowest performance passenger cars, but that's not the only thing that factors into the final price. Since the Land Rover LR4 falls in the standard SUV class, rates will be slightly more as compared to the average rate in Colorado Springs.
Does auto insurance cost less for females? - The statistics show that females take fewer risks when driving. However, this does not mean women are BETTER drivers than men. Males and females cause at-fault accidents in similar percentages, but men have costlier accidents. Men also tend to get ticketed for serious violations such as reckless driving.
Land Rover LR4 claim probability - Insurance companies factor in insurance loss information as a way to help calculate a profitable premium price. Models that statistically have high amounts or severity of claims will have higher rates for specific coverages. The next table illustrates the compiled insurance loss statistics for Land Rover LR4 vehicles.
For each insurance policy coverage type, the loss probablilty for all vehicles as a whole is equal to 100. Percentage values below 100 suggest a positive loss record, while percentages above 100 indicate frequent claims or a tendancy for claims to be larger.
Land Rover LR4 Insurance Loss Statistics
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Land Rover LR4 4dr 4WD||87||105||134||47|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
How to compare Colorado Springs Land Rover LR4 insurance quotes
The car insurance companies shown below offer free quotes in Colorado Springs, CO. If multiple companies are shown, we recommend you compare several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|LR4 HSE Plus||$200||$432||$396||$24||$118||$1,170||$98|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in specific location which can increase or decrease price quotes greatly.
Rate comparison of full coverage and liability-only
The diagram below visualizes the comparison of Land Rover LR4 insurance costs with full coverage compared to only the Colorado minimum liability coverage. The information is based on no claims or driving violations, $100 deductibles, single male driver, and no additional discounts are factored in.
When to drop comprehensive and collision
There is no definitive rule of when to drop full coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let's pretend your Land Rover LR4 claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $6,000 after paying the physical damage deductible. If premiums are more than $600 a year for physical damage coverage, then you might want to consider buying only liability coverage.
There are a few situations where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you have to maintain full coverage in order to keep the loan. Also, if you can't afford to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
Choosing the best vehicle insurance in Colorado is an important decision
Despite the potentially high cost of Land Rover LR4 insurance, auto insurance may be mandatory for several reasons.
- The majority of states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific minimum amounts of liability insurance coverage in order to license the vehicle. 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 vehicle, most banks will make it a condition of the loan that you have insurance to guarantee loan repayment. If coverage lapses or is cancelled, the bank or lender will purchase a policy for your Land Rover for a much higher rate and force you to pay the higher price.
- Insurance safeguards not only your car but also your assets. It will also reimburse you for many types of medical costs that are the result of an accident. As part of your policy, liability insurance also covers legal expenses if you are sued as the result of an accident. If your Land Rover gets damaged, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance more than offset the price you pay, especially for larger claims. Today the average American driver overpays more than $830 a year so compare rates at least once a year to be sure current rates are still competitive.
Score discounts on Colorado Springs auto insurance
Auto insurance can be pricey, but you might already qualify for some discounts that many people don't even know exist. Certain reductions will be credited when you complete an application, but some may not be applied and must be specially asked for prior to receiving the credit.
- Responsible Driver Discount - Insureds who avoid accidents could pay up to 40% less than less cautious drivers.
- Telematics Discount - Policyholders that allow companies to track vehicle usage by using a small device installed in their vehicle such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates as long as they are good drivers.
- Lower Rates for Military - Having an actively deployed family member may lower your prices slightly.
- Safety Course Discount - Successfully completing a class that teaches driver safety techniques can save you 5% or more and also improve your driving technique.
- Good Student Discount - Maintaining excellent grades can save 20 to 25%. Many companies even apply the discount to college students well after school through age 25.
- Save with More Vehicles Insured - Buying insurance for all your vehicles with the same auto insurance company can reduce rates for all insured vehicles.
- Drive Less and Save - Maintaining low annual mileage can earn cheaper rates.
You can save money using discounts, but many deductions do not apply to the overall cost of the policy. Some only reduce individual premiums such as collision or personal injury protection. So when it seems like you could get a free auto insurance policy, it's just not the way it works.
Larger auto insurance companies and the discounts they provide are outlined below.
- State Farm policyholders can earn discounts including safe vehicle, Drive Safe & Save, multiple autos, accident-free, Steer Clear safe driver discount, defensive driving training, and driver's education.
- American Family offers discounts for multi-vehicle, good student, bundled insurance, accident-free, good driver, and mySafetyValet.
- AAA may offer discounts for good driver, multi-car, pay-in-full, anti-theft, and AAA membership discount.
- GEICO offers discounts including good student, driver training, anti-lock brakes, multi-vehicle, and seat belt use.
- Mercury Insurance has discounts for professional/association, ease of repair, type of vehicle, annual mileage, anti-theft, and accident-free.
- Farmers Insurance may have discounts that include distant student, electronic funds transfer, good student, mature driver, pay in full, business and professional, and alternative fuel.
- Progressive has savings for good student, continuous coverage, homeowner, online quote discount, multi-vehicle, and multi-policy.
Double check with every insurance company which credits you are entitled to. Some of the discounts discussed earlier may not apply to policyholders in Colorado Springs. For a list of auto insurance companies with significant discounts in Colorado Springs, click this link.
Compare rate quotes but still have a local Colorado Springs insurance agency
A lot of people still like to go talk to an agent and that is a smart decision Experienced insurance agents are trained risk managers and help submit paperwork. The best thing about comparing rates online is you may find cheap car insurance quotes and still choose a local agent.
For easy comparison, once you complete this simple form, the quote information is sent to participating agents in Colorado Springs who will give competitive quotes to get your business. You don't have to find an agent since price quotes are sent straight to your inbox. If you have a need to get a price quote from one company in particular, just go to their quote page and fill out their quote form.
Picking the best insurance company requires you to look at more than just the quoted price. Here are some questions you should ask.
- Is the coverage adequate for your vehicle?
- What are their preferred companies if they are an independent agency?
- Do the agents have professional certifications like CPCU or CIC?
- Where are claims handled?
- Will they make sure you get an adequate claim settlement?
- Do you need full coverage on every vehicle?
Types of car insurance agents in Colorado Springs
When narrowing the list to find a good Colorado Springs insurance agent, it can be helpful to understand the different types of agents and how they are distinctly different. Agencies in Colorado Springs may be either independent agents or exclusive agents depending on their employer. Either one can properly insure your vehicles, but it's worth learning why they differ since it can affect your agent selection.
Exclusive Car Insurance Agents
Agents that choose to be exclusive can usually just insure with one company such as State Farm or Allstate. Exclusive agents cannot give you multiple price quotes so it's a take it or leave it situation. They are well schooled in insurance sales and that can be a competitive advantage.
Below is a short list of exclusive insurance agents in Colorado Springs that can give you price quote information.
Jeff Schmidt - State Farm Insurance Agent
1230 Tenderfoot Hill Rd Ste. 200 - Colorado Springs, CO 80906 - (719) 445-0070 - View Map
Independent Car Insurance Agents
These type of agents are not restricted to one company and that allows them to write policies with any number of different companies and possibly get better coverage at lower prices. If they find a lower price, they simply move your policy to a different company which makes it simple for you.
When shopping rates, we recommend you get quotes from multiple independent agents so that you can do a thorough price comparison.
Below is a list of independent agencies in Colorado Springs that are able to give price quotes.
Cheap auto insurance rates are out there
As you restructure your insurance plan, do not buy less coverage just to save a little money. Too many times, consumers will sacrifice liability coverage limits only to find out they didn't purchase enough coverage. The goal is to get the best coverage possible for the lowest price and still be able to protect your assets.
We've covered a lot of information how to lower your Land Rover LR4 insurance car insurance rates in Colorado Springs. The key thing to remember is the more you quote Colorado Springs car insurance, the more likely it is that you will get a better rate. Drivers may even discover the lowest car insurance rates are with an unexpected company. Smaller companies can often insure niche markets at a lower cost as compared to the big name companies such as Progressive or GEICO.
Affordable Land Rover LR4 insurance in Colorado Springs is available both online in addition to local insurance agencies, so get free Colorado Springs car insurance quotes from both of them in order to have the best chance of saving money. There are still a few companies who may not provide the ability to get quotes online and many times these small insurance companies work with independent insurance agencies.
For more information, link through to the articles below:
- Vehicle Size and Weight FAQ (iihs.org)
- Who Has Cheap Car Insurance for a Nissan Sentra in Colorado? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Uninsured Drivers in Colorado? (FAQ)
- What Auto Insurance is Cheapest in Parker, Colorado? (FAQ)
- Who Has Affordable Colorado Auto Insurance Rates for Drivers with a DUI? (FAQ)
- Understanding your Policy (NAIC.org)
- Distracted Driving Statistics (Insurance Information Institute)