Are you sick and tired of not being able to afford to buy insurance? Your situation is no different than many other Colorado drivers.
Astonishing but true according to a recent study, about 70% of customers have bought insurance from the same company for more than four years, and roughly 40% of drivers have never quoted insurance rates at all. American drivers could save themselves $860 a year just by getting comparison quotes, but most tend to underestimate the actual amount they would save if they changed companies.
Due to the abundance of different company options, it can be challenging to pick the lowest cost insurance company.
To find cheaper rates, there are a couple of ways to compare rate quotes from all the different companies. The easiest way by far to compare insurance prices is simply to get online rate quotes.
Online shopping is fast and free, and it makes it obsolete to drive around to and from local Colorado Springs insurance agencies. Comparing BMW 325i insurance rates online reduces the need to sit down with an agent unless you're the type of person who wants the professional advice of a licensed agent. It is possible to get prices online but still have the advice of a local agent. It's important to know that comparing more rates from different companies helps increase your odds of locating more affordable rates.
The providers in the list below can provide price quotes in Colorado. If multiple companies are shown, we suggest you click on several of them to get the best price comparison.
Save money on BMW 325i insurance in Colorado Springs with these auto insurance discounts
Some providers don't necessarily list every possible discount in a way that's easy to find, so the following is a list of a few of the more well known in addition to some of the lesser obvious discounts that you may qualify for.
- Drive Safe and Save - Insureds without accidents can save as much as half off their rates compared to accident prone drivers.
- Payment Method - By paying your entire bill at once instead of paying each month you can avoid monthly service charges.
- Discounts for New Vehicles - Buying auto insurance coverage on a new vehicle can cost up to 25% less since new vehicles have better safety ratings.
- Active Military Service - Having an actively deployed family member may lower your auto insurance rates slightly.
- Good Students Pay Less - Being a good student can be rewarded with saving of up to 25%. Most companies allow this discount until age 25.
- Senior Citizen Rates - Older drivers can get lower premium rates.
As is typical with insurance, some credits don't apply to the whole policy. Most only apply to individual premiums such as collision or personal injury protection. So when the math indicates having all the discounts means you get insurance for free, company stockholders wouldn't be very happy.
A few companies that may offer quotes with these discounts include:
Double check with every company which credits you are entitled to. Savings may not apply to policies in Colorado Springs. If you would like to see a list of auto insurance companies with the best discounts in Colorado Springs, click here.
Buying from insurance agencies
Many drivers still like to get professional advice from a licensed agent and that is a personal choice. One of the benefits of getting online price quotes is that you can obtain the best rates and also buy local.
For easy comparison, once you complete this form (opens in new window), your insurance coverage information is immediately sent to participating agents in Colorado Springs who will give competitive quotes to get your business. You won't need to even leave your home since price quotes are sent directly to your email. You'll get the best rates without a big time investment. If you need to get a rate quote from a specific company, you would need to jump over to their website and fill out the quote form the provide.
Choosing the best company needs to be determined by more than just the premium amount. These are some questions you should get answers to.
- If independent agents, which companies do they recommend?
- Can you use your own choice of collision repair facility?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Do they have designations such as AIC, CPCU, or CIC?
- Do you qualify for any additional discounts?
- Does their agency support local causes in Colorado Springs?
- When do they do policy reviews?
When looking for a reputable agency, it's helpful to know the different types of agencies and how they work. Auto insurance agents can be classified as either independent or exclusive depending on the company they work for.
Exclusive Auto Insurance Agencies
These agents have only one company to place business with like Farmers Insurance, American Family, State Farm and Allstate. They generally cannot compare rates from other companies so you might not find the best rates. Exclusive agents are usually well trained on the products they sell which helps them sell on service rather than price.
Listed below is a list of exclusive insurance agencies in Colorado Springs that can give you price quote information.
Independent Auto Insurance Agents
These type of agents can sell policies from many different companies and that allows them to write policies with any number of different companies and find the cheapest rate. To move your coverage to a new company, they simply move the coverage in-house and you won't have to switch agencies. When comparing auto insurance prices, you will definitely want to get some free quotes from independent agents to have the best price comparison.
Below are Colorado Springs independent agencies who can help you get price quotes.
After talking to the agent and getting satisfactory answers to any questions you have and a low price estimate, you have narrowed it down to an insurance agency that is reliable enough to service your policy.
Smart Consumers Can Cut Their Insurance Rates
Consumers need to have an understanding of a few of the rating criteria that help calculate insurance rates. If you understand what controls the rates you pay, this helps enable you to make changes that could help you find better insurance rates.
- Bundle policies and save money - Lots of insurers apply lower prices to clients that purchase more than one policy. It's known as a multi-policy discount. Even with this discount applied, consumers should still check prices from other companies to help guarantee you have the best rates.
- Credit history impact insurance premiums - An insured's credit rating can be a huge factor in calculating your premium rate. If your credit history can be improved, you could be paying less to insure your BMW 325i by improving your credit score. Insureds with high credit scores tend to be better drivers and file fewer claims than those with bad credit.
- Lower rates come with age - Older, more experienced drivers are viewed as being more responsible, cause fewer claims and accidents, and get fewer tickets.Drivers with little experience are statistically shown to be easily distracted with other occupants in the car and because of this, their insurance rates are much higher.
- Rural vs Urban Areas - Living in smaller towns and rural areas of the country has definite advantages when trying to find low car insurance rates. Urban drivers have more auto accidents and much longer commute distances. Fewer drivers on the road corresponds to lower accident rates.
- Liability coverage is important - Your insurance policy's liability coverage provides coverage if a jury decides you are liable for personal injury or accident damage. This coverage provides you with a defense in court to defend your case. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so do not skimp.
- Save by driving less - Driving more miles each year the higher the price you pay to insure it. Many insurance companies calculate prices determined by how the vehicle is used. Cars that are left in the garage cost less to insure than those that get driven frequently. A policy that improperly rates your 325i is throwing money out the window. Make sure your insurance policy is showing annual mileage, because it can save money.
Three good reasons to insure your BMW vehicle
Despite the high insurance cost for a BMW 325i in Colorado Springs, maintaining insurance is most likely required but also gives you several important benefits.
- Most states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability insurance 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 your 325i has a loan, most lenders will force you to have physical damage coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your BMW at a much higher rate and make you pay much more than you were paying before.
- Auto insurance protects your BMW and your assets. Insurance will pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your auto insurance policy will pay to repair the damage.
The benefits of buying auto insurance are without a doubt worth the cost, especially for larger claims. An average driver in America is wasting up to $850 per year so shop around at least once a year to be sure current rates are still competitive.
A little work can save a LOT of money
As you restructure your insurance plan, it's a bad idea to reduce needed coverages to save money. In too many instances, drivers have reduced uninsured motorist or liability limits only to discover later that their decision to reduce coverage ended up costing them more. The proper strategy is to get the best coverage possible for the lowest cost, not the least amount of coverage.
Some insurance companies may not have price quotes online and these regional carriers prefer to sell through local independent agents. Cheaper BMW 325i insurance in Colorado Springs can be found on the web in addition to local insurance agencies, and you should be comparing both to have the best selection.
Much more information about insurance in Colorado can be read below:
- All About Airbag Safety (State Farm)
- How Much is Colorado Auto Insurance for a Chevrolet Silverado? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Drivers Under 25 in Colorado? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Postal Workers in Colorado? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with Good Credit in Colorado? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Uninsured Drivers in Colorado? (FAQ)
- What Car Insurance is Cheapest for Drivers Over Age 70 in Colorado? (FAQ)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- What is Gap Insurance? (Insurance Information Institute)
- Understanding Limits and Deductibles (Allstate)
- Where can I buy Insurance? (Insurance Information Institute)