How many times have you told yourself it's time to shop around for the cheapest Toyota Corolla insurance in Colorado Springs? Locating cheaper insurance for a Toyota Corolla in Colorado can normally be an all-consuming task, but you can follow our car insurance buying tips to make it easier. There is a right way and a wrong way to compare car insurance rates so you're going to learn the proper way to quote coverages for your Toyota and obtain the best price possible.

Insurance rates Toyota Corolla in Colorado SpringsAstonishing but true according to a recent study, most car insurance policyholders in Colorado kept their coverage with the same car insurance company for over three years, and practically 40% of car insurance customers have never compared rates to find cheap insurance. U.S. drivers could cut their rates by approximately $859 a year just by shopping around, but they think it's difficult to compare other rate quotes.

You need to get comparison quotes occasionally because car insurance rates change regularly. Just because you had the lowest premium rates on Toyota Corolla insurance in Colorado Springs a couple years back you can probably find a better price now. Ignore everything you know about car insurance because you're about to learn how to use the internet to reduce your cost while increasing coverage.

The quickest method to compare rate quotes for Toyota Corolla insurance in Colorado Springs is to take advantage of the fact most of the bigger providers actually pay money for the chance to compare their rates. The one thing you need to do is provide the companies a bit of rating information including if it has an anti-theft system, driver ages, an estimate of your credit level, and how much you drive. Your information is then sent to many highly-rated insurers and they return quotes immediately.

To start a quote now, click here and enter your coverage details.

The companies shown below have been selected to offer free rate quotes in Colorado. If multiple companies are listed, it's highly recommended you visit several of them to find the most affordable car insurance rates.

Toyota Corolla Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $160 $384 $456 $28 $136 $1,164 $97
Corolla S $260 $630 $396 $24 $118 $1,428 $119
Corolla XLE $214 $426 $358 $22 $108 $1,128 $94
Corolla XRS $276 $534 $474 $28 $142 $1,454 $121
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Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Premium costs do not factor in garaging location in Colorado Springs which can change auto insurance rates substantially.

Rate difference between full and liability-only coverage

The illustration below illustrates the comparison of Toyota Corolla insurance prices when comparing full coverage to state minimum liability only. The data is based on no claims or driving citations, $1,000 deductibles, married male driver, and no other discounts are factored in.

When to drop comprehensive and collision coverage

There isn't a written rule of when to stop paying for comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.

For example, let's say your Toyota Corolla book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after paying your policy deductible. If it's costing in excess of $400 annually to have full coverage, then you may need to consider dropping full coverage.

There are a few cases where only buying liability is not a good plan. If you haven't paid off your loan, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not drop full coverage.

Comparison of policy deductibles

The hardest decision when buying coverage is how high or low should comp and collision deductibles be. The figures shown below illustrate the rate difference when you choose different physical damage coverage deductibles. The first table uses a $100 physical damage coverage deductible and the second rate table uses a $500 deductible.

Toyota Corolla insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $302 $644 $352 $20 $106 $1,449 $121
Corolla S $302 $644 $352 $20 $106 $1,449 $121
Corolla XLE $302 $644 $352 $20 $106 $1,449 $121
Corolla XRS $342 $644 $352 $20 $106 $1,489 $124
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Toyota Corolla insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $220 $434 $352 $20 $106 $1,132 $94
Corolla S $220 $434 $352 $20 $106 $1,132 $94
Corolla XLE $220 $434 $352 $20 $106 $1,132 $94
Corolla XRS $250 $434 $352 $20 $106 $1,162 $97
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Estimates do not factor in specific garaging location which can affect premiums substantially.

Based on this data, using a $100 deductible will cost in the ballpark of $27 more each month or $324 every year than opting for the higher $500 deductible. Since you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you usually have at a minimum 15 months between claim filings, you would probably come out ahead if you opt for a higher deductible.

Policy deductibles

The diagram below demonstrates how choosing different deductibles and can influence Toyota Corolla insurance premiums for different age categories. The prices are based on a married female driver, full physical damage coverage, and no other discounts are factored in.

Do you qualify for discounts on Toyota Corolla insurance in Colorado Springs?

Car insurance companies do not list all their discounts in an easy-to-find place, so here is a list both the well known as well as some of the hidden discounts that you may qualify for. If you are not receiving all the discounts you qualify for, you may be paying too high a price.Discount car insurance

Please keep in mind that most credits do not apply the the whole policy. Some only reduce individual premiums such as comp or med pay. So even though they make it sound like it's possible to get free car insurance, it doesn't quite work that way.

If you would like to see a list of companies with discount car insurance rates in Colorado, follow this link.

Buying the right vehicle insurance in Colorado is an important decision

Despite the high cost, insurance may be mandatory for several reasons.

The benefits of having insurance outweigh the cost, especially if you ever need it. According to a survey of 1,000 drivers, the average driver is overpaying over $869 every year so compare rates once a year at a minimum to help ensure money is not being wasted.

Getting quotes from local Colorado Springs auto insurance agents

Many people prefer to talk to a local agent and that is not a bad decision Good agents will help you protect your assets and help submit paperwork. A good thing about price shopping on the web is that you can find better rates and still have a local agent.

Insurance agents in Colorado SpringsAfter completing this form (opens in new window), your coverage information is instantly submitted to local insurance agents who want to provide quotes for your coverage. You won't need to contact an agency as quotes are delivered directly to your email. If you want to compare rates for a specific company, you just need to visit that company's website to submit a rate quote request.

Deciding on an insurer should depend on more than just a cheap price quote. Below are some questions you should ask.

Exclusive or Independent: There is a difference

When researching a good Colorado Springs insurance agent, it can be helpful to understand the types of insurance agents and how they can quote your rates. Auto insurance agents in Colorado Springs may be either exclusive agents or independent agents. Both write auto insurance policies, but it's worth learning the difference between them since it can impact your agent selection.

Exclusive Auto Insurance Agents

Agents in the exclusive channel can only quote rates from one company such as State Farm, AAA, and Liberty Mutual. Exclusive agents cannot place coverage with different providers so they are skilled at selling on more than just price. Exclusive agents are trained well on their company's products which helps them sell insurance even at higher premiums. Some people will only buy insurance from these agents primarily because of loyalty to the company and solid financial strength.

Below are Colorado Springs exclusive agencies that can give you rate quotes.

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Independent Auto Insurance Agents

These agents often have affiliation with several companies and that allows them to write policies with a variety of different insurance companies and get you the best rates possible. To transfer your coverage to a different company, they simply move your policy to a different company and you don't have to switch agencies. If you are comparing rate quotes, you definitely need to get insurance quotes from several independent insurance agents for maximum quote selection. Many can place coverage with companies that do not advertise much that can offer cheaper rates than bigger companies.

Below are Colorado Springs independent agencies that are able to give rate quotes.

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