Unbelievably, most Colorado car insurance customers have remained with the same car insurance company for at least the last four years, and nearly half have never compared rates with other companies. Most drivers in the U.S. can cut their rates by $860 a year by just shopping around, but they don’t want to spend time to go online and compare rates.
It takes a few minutes, but the best way to find cheaper prices for BMW X1 insurance is to do a yearly price comparison from insurance carriers who can sell car insurance in Colorado Springs.
- Learn about what is in your policy and the steps you can take to prevent high rates. Many things that increase rates such as traffic tickets, fender benders, and an unacceptable credit score can be eliminated by paying attention to minor details. Later in this article we will cover instructions to find cheap prices and find missing discounts.
- Compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO or State Farm, while independent agencies can provide rate quotes from multiple sources. View insurance agents
- Compare the new rate quotes to your current policy and see if you can save money. If you can save some money, ensure coverage does not lapse between policies.
- Tell your current agent or company of your decision to cancel the current policy and submit any necessary down payment along with the completed application to your new carrier. Make sure you put the new certificate verifying coverage with your registration paperwork.
One piece of advice is to compare the same level of coverage on each quote and and to look at as many companies as you can. This ensures an apples-to-apples comparison and many rates to choose from.
When shopping for affordable Colorado Springs auto insurance quotes, there are a couple of ways of comparing price quotes from companies that offer car insurance in Colorado. The best method to find cheaper BMW X1 rates is to get quotes online.
Getting rate quotes online is very simple and it makes it obsolete to actually drive to local insurance agencies. The ability to quote BMW X1 insurance online eliminates the middleman unless you want the trained advice of an agent trained in personal lines coverage. Some companies do allow you to price shop online but have a local agent actually write the policy.
It’s important to know that comparing more quotes will enable you to find a lower rate.
The providers in the list below are ready to provide free quotes in Colorado Springs, CO. If your goal is to find the best car insurance in Colorado, it’s highly recommended you visit as many as you can in order to get a fair rate comparison.
Discount Colorado Springs car insurance rates
Companies offering auto insurance don’t list all available discounts in an easy-to-find place, so we took the time to find both well-publicized as well as some of the hidden discounts that you may qualify for. If you aren’t receiving every discount you deserve, you are just wasting money.
- Student Discounts – Being a good student may save you up to 25%. The good student discount can last up to age 25.
- Distant Student – Older children who live away from home to go to college and do not take a car to college can be insured at a reduced rate.
- Claim Free – Good drivers with no accidents pay much less in comparison to bad drivers.
- Discount for Life Insurance – Some companies give a discount if you purchase a life policy as well.
- Passive Restraints – Options like air bags or motorized seat belts may get savings of 20% or more.
As is typical with insurance, most credits do not apply to all coverage premiums. Most cut individual premiums such as medical payments or collision. So even though you would think all those discounts means the company will pay you, you aren’t that lucky.
For a list of car insurance companies offering car insurance discounts in Colorado, follow this link.
Comparing rates from local Colorado Springs car insurance agents
Many drivers just want to sit down and talk to an agent and there is nothing wrong with that. The biggest benefit of getting online price quotes is the fact that drivers can get better rates and still choose a local agent.
By using this quick form, your coverage information is submitted to agents in your area that can give you free Colorado Springs auto insurance quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to leave your computer because prices are sent to you. It’s the lowest rates AND a local agent. If you want to get a rate quote for a specific company, you can always jump over to their website and fill out the quote form the provide.
Picking the best provider shouldn’t rely on just a cheap price quote. Here are some questions you should ask.
- Does the quote include credit and driving reports?
- Does the agency have a current Errors and Omissions policy?
- Are they giving you every discount you deserve?
- Does the agent help file claims?
- Do they regularly work with personal auto policies in Colorado Springs?
- Is the agent properly licensed in Colorado?
- Do they have any clout with companies to ensure a fair claim settlement?
- By raising physical damage deductibles, how much would you save?
Shown below is a list of insurers in Colorado Springs willing to provide rate quotes for BMW X1 insurance in Colorado Springs.
American Family Insurance – Ed Reed
202 E Cheyenne Mountain Blvd k – Colorado Springs, CO 80906 – (719) 540-8400 – View Map
J.R. Rodney State Farm®
1825 Main St #D – Colorado Springs, CO 80911 – (719) 392-7366 – View Map
State Farm: Dan Lewis
1867 S Academy Blvd – Colorado Springs, CO 80916 – (719) 434-3944 – View Map
Dave Beadles – State Farm Insurance Agent
308 W Fillmore St #106 – Colorado Springs, CO 80907 – (719) 632-5433 – View Map
After you get acceptable answers and an acceptable price quote, you have narrowed it down to an insurer that is professional and can provide insurance coverage. But keep in mind it’s your policy and you can cancel coverage when you choose so don’t feel you’re contractually obligated to a policy with no way out.
Lower Your Colorado Springs Insurance Costs
The best way to find cheaper insurance is to take a look at the different types of things that go into determining your policy premiums. If you have some idea of what influences your rates, this enables informed choices that will entitle you to lower rates.
The list below includes most of the major factors used by insurance companies to determine your prices.
Liability limits are a factor – Liability coverage kicks in when a jury decides you are liable for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense starting from day one. This coverage is very inexpensive compared to physical damage coverage, so do not skimp.
Insurance rates for married couples – Your spouse may save some money compared to being single. Having a significant other generally demonstrates drivers are less irresponsible and insurance companies reward insureds because drivers who are married file infrequent claims.
Occupation and insurance rates – Careers such as military personnel, social workers, and emergency personnel have higher premium rates attributed to job stress and extremely grueling work hours. On the flip side, careers such as farmers, athletes and performers get better rates.
With age comes lower prices – Inexperience drivers tend to be inattentive and easily distracted when driving with friends so they pay higher insurance rates. Having to add a teenage driver onto a policy can really hurt. More experienced drivers tend to be more responsible, are lower risk to insure, and are generally more financially stable.
A car insurance policy lapse is a bad thing – Driving with no insurance is against the law and any future policy may cost more because you let your coverage lapse. And not only will your rates increase, not being able to provide proof of insurance may earn you a fine, jail time, or a revoked license.
Avoid traffic tickets – Drivers with clean records pay less for auto insurance than their less careful counterparts. Having a single speeding ticket may increase your cost forty percent or more. Drivers who have gotten flagrant tickets like DUI, reckless driving or excessive speeding may find that they have to to file a SR-22 to the state department of motor vehicles in order to legally drive.
Deter theft and pay less – Choosing a vehicle with a theft deterrent system can help bring down rates. Systems that thwart thieves such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop vehicle theft.
Bundle policies with the same company – Many insurers afford discounts to clients who consolidate policies with them. It’s known as a multi-policy discount. The amount of the discounts can be as much as ten percent or more If you currently are using one company, it’s still a good idea to check prices from other companies to confirm you are receiving the best rates possible. You may still be able to find a better deal even if you insure with multiple companies
Insurance loss data for a BMW X1 – Insurers analyze claim trends for every vehicle when they set coverage costs for each model. Models that have higher frequency or amount of claims will have a higher premium rate.
The next table illustrates the insurance loss data used by companies for BMW X1 vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is represented as 100. Numbers below 100 suggest losses that are better than average, while percentages above 100 indicate more frequent losses or larger claims.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| BMW X1 4dr 2WD | 99 | 86 | 113 | 90 | 95 | 87 |
| BMW X1 4dr 4WD | 103 | 96 | 120 | 73 | 69 | 82 |
Statistics from IIHS.org for 2013-2015 Model Years
Why you need to buy car insurance
Despite the potentially high cost of BMW X1 insurance, insuring your vehicle is mandatory in Colorado but it also protects more than you think.
First, just about all states have mandatory insurance requirements which means you are required to carry a minimum amount of liability protection in order to drive the car. 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 X1, it’s most likely the lender will make it a condition of the loan that you buy full coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the bank may insure your BMW at a more expensive rate and require you to fork over for the much more expensive policy.
Third, insurance protects both your assets and your car. It will also reimburse you for medical bills for yourself as well as anyone injured by you. Liability insurance will also pay to defend you in the event you are sued. If mother nature or an accident damages your car, your car insurance policy will cover the repair costs.
The benefits of insuring your car definitely exceed the cost, especially if you ever need it. Unknowingly, the average driver overpays more than $800 each year so smart consumers compare quotes each time the policy renews to be sure current rates are still competitive.
In Summary
Cost effective BMW X1 insurance can be sourced from both online companies as well as from independent agents in Colorado Springs, and you should be comparing both to have the best rate selection. Some insurance companies don’t offer the ability to get quotes online and usually these smaller providers only sell through independent agents.
In this article, we presented a lot of techniques to shop for BMW X1 insurance online. The key concept to understand is the more providers you compare, the better your chances of lowering your car insurance rates. Drivers may even discover the best rates are with a company that doesn’t do a lot of advertising. Some small companies can often insure niche markets at a lower cost compared to the large companies like State Farm, GEICO and Nationwide.
More learning opportunities
- Medical Payments Coverage (Liberty Mutual)
- Who Has Affordable Auto Insurance for Retired Military in Colorado Springs? (FAQ)
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- Who Has the Cheapest Car Insurance Quotes for 19 Year Olds in Colorado Springs? (FAQ)
- Who Has Cheap Car Insurance for Drivers with Bad Credit in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance for 17 Year Olds? (FAQ)
- What Auto Insurance is Cheapest for a Dodge Ram in Colorado Springs? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- Safety Belts FAQ (iihs.org)