Finding the cheapest insurance for a car in Colorado can turn out to be difficult, but you can learn the following methods to make it easier.
There are more efficient ways to buy car insurance and we'll show you the quickest way to price shop coverage on a and obtain the best price possible from both online companies and Castle Rock agents.
It's hard to believe, but most car insurance buyers have remained with the same car insurance company for at least the last four years, and roughly 40% of drivers have never quoted rates to find cheaper coverage. Colorado insurance shoppers could save about 35% each year just by getting comparison quotes, but they won't spend time to shop around.
If you have insurance now or are looking for a new policy, use these techniques to reduce premiums without having to cut coverage. Comparing rates for cheaper coverage in Castle Rock is not as difficult as people think. Drivers only have to learn the most efficient way to compare price quotes online from multiple companies.
Cutting your Castle Rock auto insurance rates is a fairly straight forward process. All you need to do is invest a little time to compare rates to find out which insurance company has affordable Castle Rock car insurance quotes.
The companies shown below are ready to provide quotes in Colorado. If multiple companies are listed, it's a good idea that you visit as many as you can to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Extended Cab 4WD||$1,028||$514||$86|
|Chevrolet Impala LS||$946||$473||$79|
|Chevrolet Silverado LTZ Crew Cab 2WD||$1,228||$614||$102|
|Dodge Ram Crew Cab Laramie 4WD||$1,310||$655||$109|
|Ford Escape XLT 4WD||$962||$481||$80|
|Ford F-150 Lariat King Ranch 2WD||$1,186||$593||$99|
|Ford Focus S 4-Dr Sedan||$1,192||$596||$99|
|Ford Fusion Sport 4-Dr Sedan||$1,314||$657||$110|
|GMC Sierra SLT Crew Cab 4WD||$1,074||$537||$90|
|Honda Accord LX 4-Dr Sedan||$898||$449||$75|
|Honda CR-V EX 2WD||$1,032||$516||$86|
|Honda Civic EX-L 2-Dr Coupe||$1,308||$654||$109|
|Hyundai Sonata GLS 4-Dr Sedan||$1,476||$738||$123|
|Mazda 3 I Sport 4-Dr Sedan||$1,066||$533||$89|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,328||$664||$111|
|Toyota Camry LE||$1,208||$604||$101|
|Toyota Corolla XLE||$1,300||$650||$108|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Estimates do not factor in garaging location in Castle Rock which can decrease or increase premiums considerably.
Comparison of full coverage and liability-only policies
The diagram below illustrates the difference between Honda Pilot insurance rates with full coverage compared to only the Colorado minimum liability coverage. The premium estimates are based on no tickets, no at-fault accidents, $500 deductibles, married female driver, and no policy discounts are applied.
Honda Pilot rates are for example purposes only. To get rates for your specific vehicle, click here.
Guidelines for eliminating full coverage
There is no clear-cut rule to stop buying full coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let's assume your Honda Pilot replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $3,000 after the deductible is paid. If you are paying in excess of $300 annually for comprehensive and collision coverage, then you might consider buying liability only.
There are some conditions where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
Insurance quotes and discounts
Companies that sell car insurance don't always publicize every discount very well, so the below list has some of the best known in addition to some of the lesser obvious credits that may apply to you.
- Telematics Data - People who choose to allow driving data collection to look at driving habits by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease as long as they are good drivers.
- Life Insurance - Select insurance carriers reward you with a small discount if you purchase a life insurance policy as well.
- Multi-policy Discount - When you combine your home and auto insurance and insure them both with the same insurance company you could save at least 10 to 15 percent or more.
- Renewal Discounts - Some larger companies provide a discount for switching to them prior to the expiration date on your current policy. It could save around 10% when you buy Castle Rock car insurance online.
- Discount for Low Mileage - Maintaining low annual mileage could be rewarded with cheaper premium rates.
- E-sign - Some companies will provide an incentive get Castle Rock car insurance over the internet.
- Own a Home - Just being a homeowner may earn you a small savings because maintaining a house demonstrates responsibility.
- Senior Citizens - Older drivers are able to get a slight reduction on a Castle Rock car insurance quote.
- Claim-Free Discount - Drivers who don't have accidents are rewarded with significantly better rates on Castle Rock car insurance quote compared to frequent claim filers.
- Government Employees - Active or former government employment may qualify for a discount when you quote Castle Rock car insurance with select insurance companies.
One last thing about discounts, most discounts do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as comp or med pay. Just because it seems like you could get a free insurance policy, that's just not realistic.
Some of the larger companies that have most of these discounts possibly include:
Before buying, ask each company to give you their best rates. Some discounts listed above might not apply in every state. To see insurers that offer multiple discounts in Castle Rock, click here to view.
Buying insurance from Castle Rock auto insurance agents
Some people still prefer to buy from a licensed agent and doing so can bring peace of mind Licensed agents can answer important questions and help submit paperwork. The biggest benefit of getting online price quotes is the fact that you can find cheap rate quotes and still have a local agent. And providing support for local agencies is especially important in Castle Rock.
Upon completion of this form (opens in new window), your insurance coverage information is immediately sent to companies in Castle Rock that can provide free Castle Rock car insurance quotes for your coverage. It simplifies rate comparisons since you won't have to contact any agents because prices are sent to you instantly. If you wish to get a rate quote from a specific insurance company, don't hesitate to search and find their rate quote page and fill out their quote form.
Two types of car insurance agents
If you want a reputable agency, there are two types of insurance agents and how they can write your policy. Agencies in Castle Rock can be described as either independent (non-exclusive) or exclusive. Either can do a good job, but it's worth mentioning how they differ because it can factor into buying decisions.
Agents of this type can sell policies from many different companies so they can insure your vehicles with a variety of different insurance companies enabling the ability to shop coverage around. If prices rise, an independent agent can move your coverage which requires no work on your part. If you are trying to find cheaper rates, you will definitely want to check rates from multiple independent agents to maximize your price options. Most have the option of insuring with smaller mutual companies that many times have cheaper rates.
Agents that elect to be exclusive can usually just insure with one company such as Allstate, Farmers Insurance or State Farm. Exclusive agents are unable to provide rate quotes from other companies so keep that in mind. They are usually well trained on their company's products which helps overcome the inability to quote other rates. Consumers often buy insurance from these agents partially due to high brand loyalty and solid financial strength.
Finding the right insurance agency needs to be determined by more than just the quoted price. Ask your prospective agent these questions:
- Which family members are covered?
- What company do they have the most business with?
- Does the company have a local claim office in Castle Rock?
- Do they get paid more for recommending certain coverages?
- If you are a high risk driver, do they have special markets for your coverage?
- Which companies do they recommend if they are an independent agency?
Insurance can get complicated
When quoting and choosing insurance from an agent or online, there really is not a one-size-fits-all type of policy. Everyone's needs are different and a cookie cutter policy won't apply. For example, these questions may help highlight whether your personal situation will benefit from professional help.
- Do I need an umbrella policy?
- What are the liability requirements in my state?
- Do all my vehicles need collision coverage?
- Am I covered if I hit a deer?
- When can my company non-renew my policy?
- How much coverage applies to personal belongings?
- What if a claim settlement is too low?
If it's difficult to answer those questions but you think they might apply to your situation, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and can help protect your family.
You have control over your car insurance rates
Lots of factors are considered when pricing auto insurance. Most are fairly basic like an MVR report, but others are less apparent like your vehicle usage or how safe your car is. The best way to find cheaper car insurance is to take a look at some of the elements that aid in calculating the price you pay for car insurance. When you understand what influences your rates, this allows you to make good choices that could help you find cheaper rates.
File a insurance claims and pay more - If you tend to file frequent claims, you shouldn't be surprised to get either policy cancellation or increased premiums. Companies in Colorado provide better rates to policyholders who are not frequent claim filers. Auto insurance is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.
Costs are impacted by vehicle performance - The make and model of the car, truck or SUV you need to insure makes a significant difference in the rate you pay. The best insurance prices will normally be found when insuring lower performance four cylinder passenger cars, but the final cost of insurance is determined by many other factors.
Teenage drivers pay high prices - Young drivers in Colorado are proven to be inattentive when behind the wheel and because of this, their car insurance rates are much higher. Older, more experienced drivers are more cautious drivers, statistically cause fewer accidents, and receive fewer citations.
Car insurance policy lapses increase prices - Having a gap between insurance policy dates can be a fast way to increase your rates. Not only will rates go up, the inability to provide proof of insurance might get you fines or a revoked license.
Insuring your vehicle just makes sense
Even though it's not necessarily cheap to insure a vehicle in Castle Rock, car insurance is required for several reasons.
First, most states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability coverage if you don't want to risk a ticket. 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 took out a loan on your car, more than likely the lender will force you to have full coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your vehicle at an extremely high rate and force you to reimburse them the higher price.
Third, insurance protects both your vehicle and your personal assets. Insurance will pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability insurance will also pay for a defense attorney if you cause an accident and are sued. If you have damage to your vehicle as the result of the weather or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance more than offset the price you pay, particularly for liability claims. But the average American driver is overpaying more than $865 each year so it's recommended you shop around each time the policy renews to save money.
Persistence pays off
You just learned some good ideas how you can compare insurance prices in Castle Rock. It's most important to understand that the more quotes you get, the better your comparison will be. Drivers may even discover the lowest prices come from a company that doesn't do a lot of advertising. They may have significantly lower rates on certain market segments compared to the large companies like Allstate or State Farm.
When buying insurance coverage, you should never reduce coverage to reduce premium. Too many times, an accident victim reduced physical damage coverage only to find out they didn't have enough coverage. The proper strategy is to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
More detailed insurance information is located in the articles below:
- Safety Features for Your New Car (State Farm)
- Who Has Affordable Colorado Auto Insurance for a Honda Accord? (FAQ)
- Who Has Cheap Car Insurance for a Nissan Sentra in Colorado? (FAQ)
- Who Has the Cheapest Colorado Auto Insurance for College Students? (FAQ)
- What is the Best Car Insurance in Brighton, Colorado? (FAQ)
- Who Has Cheap Auto Insurance for Uber Drivers in Colorado? (FAQ)
- How Much are Colorado Car Insurance Quotes After a Speeding Ticket? (FAQ)
- Who Has the Cheapest Car Insurance for Ride Shares in Colorado? (FAQ)
- Determining Your Vehicle's Value and Repair Cost (Insurance Information Institute)
- Learn About Car Insurance (GEICO)
- Safe Vehicles for Teens (iihs.org)
- Property Damage Coverage (Liberty Mutual)