Anyone knows that auto insurance companies don’t want you to look for a cheaper policy. Insureds who shop around once a year are very likely to switch companies because they stand a good chance of finding a lower-cost company. A survey found that drivers who compared price quotes annually saved over $70 a month compared to other drivers who don’t regularly compare prices.
If finding budget-friendly rates on insurance is why you’re here, then learning a little about the best way to shop and compare coverages can help make the process easier.
It takes a few minutes, but the best way to get more affordable car insurance rates in Colorado Springs is to start doing an annual price comparison from different companies who can sell car insurance in Colorado.
First, spend a few minutes and learn about how insurance companies determine prices and the measures you can control to prevent rate increases. Many factors that are responsible for high rates such as at-fault accidents, careless driving, and a not-so-good credit score can be remedied by making minor changes to your lifestyle.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive and State Farm, while agents who are independent can quote rates from multiple insurance companies.
Third, compare the new rate quotes to your existing rates to see if a cheaper rate is available. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
Fourth, provide adequate notice to your current company of your intent to cancel the current policy. Submit a down payment along with a completed application for your new policy. Once the application is submitted, put the new proof of insurance paperwork with your registration paperwork.
The most important part of shopping around is to make sure you’re comparing the same deductibles and limits on each price quote and to quote with as many car insurance companies as possible. This provides an accurate price comparison and a complete rate analysis.
Cutting your Colorado Springs car insurance rates is not rocket science. The only thing you need to do is take a couple of minutes comparing rate quotes online from several insurance companies.
The companies shown below are our best choices to provide comparison quotes in Colorado. To find the cheapest car insurance in CO, it’s a good idea that you visit as many as you can to get the cheapest price.
Toyota Tacoma insurance analysis
The rate information below outlines a range of insurance coverage prices for Toyota Tacoma models. Having a better understanding of how insurance policy rates are formulated can help you make decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Tacoma 2WD | $114 | $244 | $338 | $20 | $100 | $816 | $68 |
| Tacoma 4WD | $130 | $200 | $338 | $20 | $100 | $788 | $66 |
| Tacoma Double Cab 4WD | $130 | $244 | $338 | $20 | $100 | $832 | $69 |
| Tacoma X-Runner 2WD | $130 | $288 | $338 | $20 | $100 | $876 | $73 |
| Tacoma Double Cab 4WD | $148 | $244 | $338 | $20 | $100 | $850 | $71 |
| Tacoma Double Cab TRD Off-Road Package 4WD | $148 | $244 | $338 | $20 | $100 | $850 | $71 |
| Tacoma Double Cab TRD Sport Package 4WD | $148 | $244 | $338 | $20 | $100 | $850 | $71 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Premium amounts do not factor in garaging location in Colorado Springs which can impact price quotes significantly.
The diagram below illustrates how your choice of deductibles and can increase or decrease Toyota Tacoma premium costs for different insured age categories. The data assumes a married female driver, comp and collision included, and no discounts are taken into consideration.
Impact of speeding/accidents on auto insurance rates
The illustration below shows how violations and accidents influence Toyota Tacoma auto insurance costs for different categories of driver ages. The premiums assume a single female driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
Rate comparison of males versus females
The diagram below illustrates the comparison of Toyota Tacoma insurance premiums for male and female drivers. The information is based on no violations or claims, full physical damage coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.
Cheap Toyota Tacoma insurance in Colorado Springs
Car insurance is not cheap, but there’s a good chance there are discounts that can dramatically reduce your bill. A few discounts will automatically apply at the time you complete a quote, but some discounts are required to be requested specifically in order for you to get them.
- Good Student Discount – Excelling in school may save as much as 25% on a Colorado Springs auto insurance quote. This discount can apply well after school through age 25.
- College Student – Youth drivers who live away from home at college and don’t have a car could qualify for this discount.
- Discount for Low Mileage – Low annual miles could earn cheaper premium rates.
- Government Employee Discount – Employees or retirees of the government can save as much as 8% depending on your insurance provider.
- Telematics Devices – People who choose to allow their insurance company to look at when and where they use their vehicle by using a telematics device in their vehicle such as State Farm’s In-Drive may get a rate reduction if they show good driving skills.
- New Vehicle Savings – Adding a new car to your policy can save you some money compared to insuring an older model.
- ABS and Traction Control Discounts – Cars with ABS braking systems or traction control can reduce accidents so companies give up to a 10% discount.
- Pay Now and Pay Less – If you pay your entire premium ahead of time instead of making monthly payments you can avoid the installment charge.
- Own a Home – Just owning your own home can save a few bucks due to the fact that maintaining a home requires personal responsibility.
While discounts sound great, it’s important to understand that most discount credits are not given to the overall cost of the policy. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Even though it may seem like you could get a free insurance policy, you aren’t that lucky.
The diagram below visualizes the comparison of Toyota Tacoma insurance prices with and without discounts applied to the rates. The data assumes a female driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, safe-driver, multi-policy, and homeowner discounts applied.
Companies that may offer quotes with some of the above discounts include:
When quoting, ask each company which discounts you qualify for. All car insurance discounts may not apply to policyholders in Colorado Springs. To see insurers with discount rates in Colorado Springs, click here to view.
Here’s why insurance is not optional
Even though it’s not necessarily cheap to insure a Toyota in Colorado Springs, insurance is required for several reasons.
First, almost all states have minimum liability requirements which means you are required to buy specific limits of liability coverage in order to get the vehicle licensed. 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 bought your Toyota Tacoma with a loan, almost every bank will have a requirement that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If the policy lapses, the lender may insure your Toyota for a much higher rate and require you to fork over much more than you were paying before.
Third, insurance safeguards not only your vehicle but also your financial assets. It will also reimburse you for medical transport and hospital expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you have damage to your Toyota as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of having insurance are without a doubt worth the cost, especially when you need to use it. According to a 2015 survey, the average American driver is overpaying more than $830 a year so you should quote your policy with other companies every year to save money.
When in doubt talk to an agent
When buying your policy for your vehicles, there really is not a single plan that fits everyone. Every insured’s situation is different and your car insurance should be unique as well.
For instance, these questions may help highlight whether your personal situation might need professional guidance.
- I have health insurance so do I need medical payments coverage?
- Does coverage extend to my business vehicle?
- What if I don’t agree with a claim settlement offer?
- Who does medical payments coverage extend to?
- Do I need motorclub coverage?
- Is business property covered if stolen from my car?
- Am I covered if I hit someone who is not insured?
If you don’t know the answers to these questions, you might consider talking to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area. It is quick, free and can help protect your family.
Local Colorado Springs insurance agents
Some people would prefer to go talk to an agent and often times that is recommended Professional agents are highly skilled in risk management and help in the event of a claim. An additional benefit of getting free rate quotes online is that you can find the best rates and still have a local agent. And buying from neighborhood agents is definitely important in Colorado Springs.
To make it easy to find an agent, after completing this short form, your insurance data is transmitted to insurance agents in Colorado Springs who will return price quotes for your insurance coverage. You won’t even need to even leave your home since rate quotes are delivered immediately to your email address. In the event you want to compare prices from a specific car insurance provider, you would need to visit that company’s website and submit a quote form there.
Picking an insurer should include more criteria than just a cheap price. The following questions are important to ask.
- Will you work with the agent or an assistant?
- How many years of experience in personal auto insurance do they have?
- What will you get paid if your car is a total loss? How is that amount determined?
- Will high miles depreciate repair valuations?
- Do they carry Errors and Omissions coverage?
- Do you qualify for any additional discounts?