How to Save on Mitsubishi Lancer Insurance in Colorado Springs

Do you want an efficient way to compare more affordable Mitsubishi Lancer insurance in Colorado Springs? Cutting costs on Mitsubishi Lancer insurance in Colorado Springs is challenging for drivers who have little experience online comparison shopping. With literally dozens of insurance companies available, it can easily become a difficult mission to locate the lowest price in Colorado.

How to find the cheapest rates for Mitsubishi Lancer insurance in Colorado Springs

If saving money is your primary concern, then the best way to get discount auto insurance rates is to start doing an annual price comparison from insurance carriers who can sell car insurance in Colorado Springs.

1. Read about how auto insurance works and the changes you can make to lower rates. Many policy risk factors that drive up the price such as speeding and a negative credit rating can be improved by making minor changes to your lifestyle.
2. Request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like GEICO and State Farm, while independent agents can quote prices from multiple insurance companies. Begin your rate comparison
3. Compare the quotes to your existing rates to see if a cheaper rate is available in Colorado Springs. If you can save money and switch companies, make sure coverage is continuous and does not lapse.

One key aspect when comparing rates is that you’ll want to compare similar limits and deductibles on every quote and and to analyze as many companies as you can. This ensures an accurate price comparison and a thorough price selection.

It’s an obvious conclusion that car insurance companies want to keep your business as long as possible. Drivers who do rate comparisons are inclined to buy a different policy because there is a great chance of finding a lower-cost company. A survey found that people who compared rate quotes regularly saved approximately $850 each year compared to policyholders who never shopped around for cheaper prices.

If finding the most affordable auto insurance in Colorado Springs is your objective, learning how to get rate quotes and compare insurance can make the process less intimidating.

If you have a current auto insurance policy, you will most likely be able to get lower rates using the techniques presented in this article. This article will instruct you on the most effective ways to compare rates. Nevertheless, Colorado consumers can benefit by having an understanding of the methods companies use to price online insurance and use it to your advantage.

Best companies for Mitsubishi Lancer insurance

The companies shown below provide comparison quotes in Colorado Springs, CO. To buy the best auto insurance in CO, it’s highly recommended you get rates from several of them to get the cheapest price.

Mitsubishi Lancer coverage analysis

The data table below showcases detailed analysis of policy rates for Mitsubishi Lancer models. Being able to understand how insurance policy premiums are established helps drivers make decisions on which coverage to buy.

Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Estimates do not factor in specific Colorado Springs garaging location which can influence auto insurance rates considerably.

Rate comparison for different deductibles

The hardest decision when buying coverage is how high should the physical damage coverage deductibles be. The data tables below show how much more you’ll pay when you choose different insurance deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second price table uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Table data does not factor in specific Colorado Springs garaging location which can affect insurance rates significantly.

Based on these figures, using a $250 deductible costs roughly $17 more each month or $204 every year across all Mitsubishi Lancer models than requesting the higher $500 deductible. Since the policyholder would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you normally average at least 15 months between claim filings, you would more than likely save some money if you opt for a higher deductible.

The information below highlights how deductible selection and can raise or lower Mitsubishi Lancer yearly insurance costs for different age groups of insureds. The price estimates are based on a married female driver, full coverage, and no additional discounts are factored in.

Irresponsible driving raises your rates

The example below demonstrates how traffic citations and fender-benders increase Mitsubishi Lancer insurance costs for each different age category. Data assumes a single male driver, full coverage, $1,000 deductibles, and no discounts are factored in.

Male drivers compared to female drivers

The illustration below illustrates the difference between Mitsubishi Lancer insurance rates for male and female drivers. The rate quotes are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.

Should you buy full coverage?

The illustration below shows the comparison of Mitsubishi Lancer yearly insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no claims or driving violations, $100 deductibles, drivers are not married, and no policy discounts are applied.

Guidelines for dropping full coverage

There is no clear-cut formula to stop buying full coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s pretend your Mitsubishi Lancer book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after the deductible is paid. If it’s costing you more than $400 annually for full coverage, then you might want to consider buying only liability coverage.

There are a few cases where removing full coverage is not a good idea. If you still owe money on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage.

How Your Lancer Insurance Premiums are Determined

When buying auto insurance it’s important to understand the different types of things that are used to determine your auto insurance rates. If you understand what determines base rates, this enables you to make decisions that may result in lower auto insurance prices. Lots of things are taken into consideration when quoting car insurance. Some are obvious such as your driving record, but some are more obscure such as your marital status or how financially stable you are.

The itemized list below are some of the major factors utilized by car insurance companies to help set your premiums.

• Keep claims to a minimum – Companies in Colorado generally give better rates to insureds who are claim-free. If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Your car insurance is intended for larger claims.

• Insurance prices are higher for high performance vehicles – The type of vehicle you need to insure makes a significant difference in the rate you pay. The cheapest rates will generally be found on the lowest performance passenger cars, but that’s not the only thing that factors into the final price.

  The following chart uses these assumptions: single female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It shows Mitsubishi Lancer insurance rates compared to other models that have different performance risks.

• The more you drive the more you pay – Driving a lot of miles each year the higher your rate. Most companies apply a rate determined by how the vehicle is used. Autos not used for work or commuting receive lower rates as compared to vehicles used primarily for driving to work. It’s a smart idea to ensure your auto insurance policy is showing the correct usage for each vehicle. Incorrect rating for your Lancer may be wasting your money.
• Better rates on cars with good safety ratings – Vehicles with good safety scores cost less to insure. Vehicles engineered for safety reduce injuries and better occupant protection means lower claim amounts which can result in lower premiums. If your Mitsubishi scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you are probably receiving a discount.
• Liability coverage limits should be high – Liability coverage will provide protection in the event that a jury decides you are liable for causing damage or personal injury in an accident. Your policy’s liability insurance provides legal defense coverage to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so drivers should carry high limits.

• Loss statistics for a Mitsubishi Lancer – Car insurance companies include the past claim history for a vehicle to help calculate premium prices. Models that the statistics show to have higher number or severity of losses will cost more to insure.

  The table below shows the loss history for Mitsubishi Lancer vehicles. For each insurance policy coverage type, the claim probability for all vehicles combined as an average is represented as 100. Numbers under 100 indicate a favorable loss history, while percentage numbers above 100 point to more frequent losses or an increased probability of a larger loss.

  
  

  Insurance Loss Ratings for Mitsubishi Lancer Vehicles

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Mitsubishi Lancer 2WD	153	146	127	192	218	172
  Mitsubishi Lancer 4WD	149	131	148	135
  Mitsubishi Lancer Evolution 4WD	225	123	221

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Cheaper Colorado Springs insurance quotes with discounts

Some insurers don’t always publicize every policy discount very well, so below is a list some of the best known and the more hidden discounts that may be available.

• Own a Home and Save – Owning your own home or condo may trigger a policy discount on insurance due to the fact that maintaining a home demonstrates responsibility.
• Accident Forgiveness Coverage – Not necessarily a discount, but companies like Allstate, Progressive, and GEICO allow you one accident before raising your premiums if your claims history is clear for a set time period.
• Good Drivers – Insureds without accidents can get discounts for up to 45% lower rates as compared to drivers with claims.
• Discount for Good Grades – This discount can be rewarded with saving of up to 25%. Most companies allow this discount until age 25.
• Buy New and Save – Insuring a new Lancer can save you some money because newer vehicles have to meet stringent safety requirements.
• Drive Less and Save – Driving less can qualify you for lower prices on the low mileage vehicles.
• Paper-free Discount – A handful of insurance companies will give you a small discount for buying a policy and signing up on your computer.

Remember that most of the big mark downs will not be given to the entire policy premium. Most only apply to the cost of specific coverages such as collision or personal injury protection. Despite the appearance that all those discounts means the company will pay you, insurance companies aren’t that generous.

The chart below shows the comparison of Mitsubishi Lancer car insurance rates with and without discounts being applied to the rates. The costs are based on a female driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, marriage, safe-driver, multi-car, and claim-free discounts applied.

The best insurance companies and some of the discounts are included below.

• State Farm includes discounts for student away at school, multiple autos, safe vehicle, good driver, Steer Clear safe driver discount, and driver’s education.
• Liberty Mutual may have discounts that include multi-policy, preferred payment discount, exclusive group savings, good student, and new graduate.
• American Family has savings for early bird, TimeAway discount, mySafetyValet, accident-free, defensive driver, and multi-vehicle.
• Progressive may include discounts for multi-vehicle, homeowner, online signing, continuous coverage, and multi-policy.
• Farmers Insurance policyholders can earn discounts including business and professional, early shopping, pay in full, alternative fuel, bundle discounts, and distant student.
• Auto-Owners Insurance offers discounts including paperless, safe vehicle, safe driver, student away at school, mature driver, and group or association.
• SAFECO has discounts for anti-theft, drive less, accident prevention training, teen safety rewards, and multi-car.

If you are trying to find cheaper Colorado Springs car insurance quotes, ask every insurance company which discounts you qualify for. Discounts may not apply in Colorado Springs. If you would like to choose from a list of insurers that have a full spectrum of discounts in Colorado Springs, click here to view.

Insurance is available from agents near you

Some consumers still prefer to buy from a licensed agent and we recommend doing that One of the best bonuses of comparing rate quotes online is you can get cheaper rates but still work with a licensed agent.

To help locate an agent, after submitting this quick form, your insurance data is immediately sent to participating agents in Colorado Springs that can provide free Colorado Springs car insurance quotes for your coverage. You won’t even need to contact any agents because quoted prices will be sent to you directly. You can find the lowest rates AND a local agent. In the event you want to compare prices from a specific insurance provider, just find their quoting web page and complete a quote there.

Deciding on a insurance company requires more thought than just a cheap quote. Below are some questions you should ask.

• Which companies do they recommend if they are an independent agency?
• Do they write coverage based solely on cost?
• Does the company have a local claim office in Colorado Springs?
• Is the agency active in community causes in Colorado Springs?
• Will they make sure you get an adequate claim settlement?
• Is insurance their full-time profession?
• Do they specialize in personal lines auto insurance in Colorado Springs?
• Can you choose the body shop in case repairs are needed?

If you prefer to buy insurance from a reliable insurance agency, it helps to know the two types of insurance agents and how they differ in how they quote coverages. Agents in Colorado Springs are classified as either exclusive agents or independent agents.

Exclusive Insurance Agencies

Exclusive agencies can only write with one company and some examples include Farmers Insurance and State Farm. Exclusive agents are unable to shop your coverage around so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are trained well on their products and sales techniques and that allows them to sell at a higher price point. Some insured continue to choose to use a exclusive agent partially due to loyalty to the company and solid financial strength.

Shown below is a short list of exclusive agents in Colorado Springs that can give you price quotes.

• State Farm Agent Scott Richter
  5885 Stetson Hills Blvd #130 – Colorado Springs, CO 80923 – (719) 591-2300 – View Map
• John Hall – State Farm Insurance Agent
  1614 Academy Blvd N b – Colorado Springs, CO 80909 – (719) 596-1414 – View Map
• Bob Hawkins – State Farm Insurance Agent
  5490 Powers Center Point #132 – Colorado Springs, CO 80920 – (719) 418-3377 – View Map

View more agents

Independent Agencies or Brokers

Agents of this type do not have single company limitations so they can write business with multiple insurance companies enabling the ability to shop coverage around. If they find a cheaper price, your agent can switch companies without you having to go to a different agency.

When comparison shopping, you absolutely need to get several quotes from at a minimum one independent agency to get the most accurate price comparison. A lot of them also have access to additional companies that you may not be familiar with who may have lower rates.

Shown below are Colorado Springs independent agents that are able to give price quote information.

• Pikes Peak Insurance Agency
  2306 N Powers Blvd #120 – Colorado Springs, CO 80915 – (719) 591-4500 – View Map
• A Better Choice Auto Insurance
  1863 N Circle Dr – Colorado Springs, CO 80909 – (719) 667-1301 – View Map
• CIA-Leavitt Insurance Agency
  5585 Erindale Dr #107 – Colorado Springs, CO 80918 – (719) 528-1884 – View Map

View more agents

Car insurance can be complex

Keep in mind that when it comes to choosing the right insurance coverage, there really isn’t a one size fits all plan. Your financial needs are unique and your car insurance should unique, too.
For example, these questions might help in determining if your insurance needs would benefit from professional advice.

• How much can I save by bundling my policies?
• Do I pay less for low miles?
• Is water damage covered by my policy?
• Where can I find high-risk insurance?
• What does PIP insurance cover?
• How do I file an SR-22 for a DUI in Colorado?

If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier

Shop smart and save

While you’re price shopping online, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where drivers have reduced collision coverage only to regret that the small savings ended up costing them much more. Your goal is to purchase a proper amount of coverage at an affordable rate while not skimping on critical coverages.

Budget-friendly car insurance in Colorado Springs is available both online and from local insurance agents, and you should compare rates from both to get a complete price analysis. Some insurance companies may not have online quoting and these small, regional companies sell through independent agents.

Steps to buying lower priced Mitsubishi Lancer insurance in Colorado Springs

The recommended way to find cheaper quotes for Mitsubishi Lancer insurance in Colorado Springs is to compare prices at least once a year from different companies in Colorado. You can compare rates by following these steps.

1. Spend some time learning about what is in your policy and the steps you can take to prevent expensive coverage. Many policy risk factors that result in higher prices like multiple speeding tickets and an unacceptable credit history can be eliminated by being financially responsible and driving safely.
2. Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from one company like GEICO or State Farm, while independent agencies can quote rates for a wide range of insurance providers.
3. Compare the new quotes to your existing rates and determine if cheaper Lancer coverage is available in Colorado Springs. If you find a lower rate quote and switch companies, make sure coverage is continuous and does not lapse.
4. Give notification to your current company of your intent to cancel your current car insurance policy and submit the signed application along with the required initial payment to your new company or agent. As soon as you receive it, place your new certificate verifying coverage with the vehicle registration.

A valuable tip to remember is to try to compare the same physical damage deductibles and liability limits on every price quote and and to get prices from every company you can. Doing this helps ensure a fair price comparison and the most accurate and complete price analysis.

Helpful articles

• Insurance Losses by Make and Model (iihs.org)
• Who Has Cheap Auto Insurance for a Ford F-150 in Colorado Springs? (FAQ)
• Who Has the Cheapest Car Insurance for Drivers Requiring a SR22 in Colorado Springs? (FAQ)
• Learn About Car Insurance (GEICO)
• How to Avoid Buying a Flooded Car (Insurance Information Institute)
• Auto Insurance for Teen Drivers (Insurance Information Institute)
• Tools for Teen Driving Safety (State Farm)