Astonishing but true, nearly 70% of customers have been with the same company for well over three years, and almost 40% of drivers have never shopped around. American insurance shoppers can save hundreds of dollars each year just by shopping around, but they just assume it’s a time-consuming process to compare rate quotes.
If saving money is your primary concern, then the best way to save money on Jeep Compass insurance is to start doing a yearly price comparison from insurance carriers who sell insurance in Colorado Springs.
- First, get a basic knowledge of auto insurance and the steps you can take to keep rates in check. Many things that result in higher prices such as traffic violations and a less-than-favorable credit rating can be rectified by making minor changes to your lifestyle.
- Second, compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from a single company like Progressive or Farmers Insurance, while agents who are independent can give you price quotes for a wide range of insurance providers.
- Third, compare the new rates to your current policy to see if you can save by switching companies. If you can save money and switch companies, make sure there is no coverage gap between policies.
One important bit of advice is to make sure you enter similar coverage information on each quote and and to get prices from as many companies as possible. This guarantees an accurate price comparison and the best price quote selection.
Rates and other information
The rate information displayed next showcases estimates of prices for Jeep Compass models. Being aware of how insurance rates are determined can be valuable when making informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Compass Sport 2WD | $204 | $368 | $368 | $22 | $110 | $1,072 | $89 |
| Compass Sport 4WD | $234 | $448 | $368 | $22 | $110 | $1,182 | $99 |
| Compass Limited 2WD | $234 | $448 | $368 | $22 | $110 | $1,182 | $99 |
| Compass Limited 4WD | $234 | $448 | $368 | $22 | $110 | $1,182 | $99 |
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Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate quotes do not factor in specific garaging location which can change premiums greatly.
Full coverage versus liability-only in Colorado Springs
The example below shows the comparison of Jeep Compass car insurance costs with full coverage and liability only. The rate quotes are based on no claims or driving citations, $500 deductibles, drivers are single, and no discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no definitive guideline to drop comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your Jeep Compass replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after the deductible is paid. If you are paying over $400 a year for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some situations where only buying liability is not advised. If you still owe a portion of the original loan, you have to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.
Jeep Compass Insurance Costs Can Be Cheaper
Many factors are taken into consideration when pricing auto insurance. Some are obvious such as traffic violations, but other factors are not as apparent like your vehicle usage or your vehicle rating.
The items below are some of the items used by companies to determine your premiums.
Deter car thieves – Purchasing a vehicle with anti-theft technology or alarm system can earn a premium discount. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping car theft.
How much liability protection do you need? – The liability coverage on your policy will afford coverage if ever you are ruled to be at fault for an accident. It will provide legal defense which can cost a lot. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so do not skimp.
Higher rates for policy lapses – Driving any period of time without insurance is illegal and you may have a hard time finding new coverage because you let your coverage cancel without a new policy in place. In addition to paying higher rates, failure to provide proof of insurance may earn you a license revocation or jail time. You will then be forced to submit proof of financial responsibility or a SR-22 with the Colorado department of motor vehicles.
Drive less and get lower prices – The higher the mileage driven every year the more you will pay for car insurance. Many insurance companies rate vehicles based upon how you use the vehicle. Cars and trucks not used for work or commuting can get a lower rate than vehicles that are driven to work every day. It’s a smart idea to ensure your car insurance policy states how each vehicle is driven. A policy that improperly rates your Compass may be wasting your money.
Do safer cars cost less to insure? – Safer cars can get you lower premiums. These vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries means your insurance company pays less and lower rates for you. If your Jeep earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may pay a lower rate.
Avoid traffic tickets – A bad driving record impacts premiums far more than you think. Attentive drivers get better rates as compared to careless drivers. Getting just one ticket can increase the cost of insurance twenty percent or more. Drivers who have received serious violations such as DWI, reckless driving or hit and run convictions are required to file a SR-22 with their state in order to continue driving.
The chart below shows how violations and at-fault collisions can affect Jeep Compass car insurance costs for each different age group. The premium estimates are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.
Get hitched and get better costs – Having a significant other helps lower the price on your car insurance bill. Having a spouse is viewed as being more financially stable it has been statistically shown that being married results in fewer claims.
Insurance losses for a Jeep Compass – Companies factor in insurance loss information to determine a price that will be profitable for them. Models that the data shows to have higher number or severity of losses will cost more for specific coverages.
The data below shows the loss history for Jeep Compass vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is represented as 100. Values that are 100 or less indicate a favorable loss history, while numbers above 100 indicate a higher chance of having a claim or a tendency for claims to be larger.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Jeep Compass 4dr 2WD | 87 | 135 | 58 | 128 | 124 | 142 |
| Jeep Compass 4dr 4WD | 76 | 114 | 63 | 99 | 107 | 106 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheaper coverage is out there
We covered a lot of ways to get a better price on Jeep Compass insurance in Colorado Springs. The key concept to understand is the more you quote Colorado Springs car insurance, the more likely it is that you will get a better rate. Consumers may even find the most savings is with a small local company. Some small companies may only write in your state and offer lower rates compared to the large companies like Allstate and Progressive.
Cheap Jeep Compass insurance in Colorado Springs is possible online in addition to many Colorado Springs insurance agents, so you need to quote Colorado Springs car insurance with both to have the best selection. Some insurance companies do not provide rate quotes online and these small, regional companies only sell through local independent agencies.
Additional detailed information can be found in the articles below:
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- What Insurance is Cheapest for Drivers Under 21 in Colorado Springs? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Toyota RAV4 in Colorado Springs? (FAQ)
- How Much are Auto Insurance Rates for a Honda CR-V in Colorado Springs? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Chevrolet Traverse in Colorado Springs? (FAQ)
- Who Has Affordable Auto Insurance for a School Permit in Colorado Springs? (FAQ)
- Who Has the Cheapest Car Insurance Rates for 18 Year Olds in Colorado Springs? (FAQ)
- Cellphones, Texting and Driving (iihs.org)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)