Really, the only way to find affordable quotes for car insurance rates in Colorado Springs is to regularly compare prices from providers in Colorado.
- Take a little time to learn about the different coverages in a policy and the measures you can take to keep rates down. Many rating factors that increase rates like tickets, at-fault accidents, and a negative credit score can be amended by making minor driving habit or lifestyle changes. This article gives more ideas to lower rates and find missing discounts.
- Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can quote rates for many different companies.
- Compare the new rate quotes to the premium of your current policy to see if a cheaper rate is available. If you can save money and decide to switch, ensure there is no coverage lapse between policies.
- Notify your agent or company of your intent to cancel your existing policy and submit any necessary down payment along with the completed application for your new coverage. Once the application is submitted, put the proof of insurance certificate along with the vehicle’s registration papers.
An important bit of advice to remember is that you’ll want to make sure you compare the same amount of coverage on each quote request and to quote with as many carriers as you can. This helps ensure an apples-to-apples comparison and a better comparison of the market.
Astonishing but true, most drivers have remained with the same auto insurance company for a minimum of four years, and 38% of customers have never even compared quotes to find affordable rates. Consumers in Colorado could save 35% each year, but most undervalue how much savings they would realize if they changed companies.
Quoting and buying the best-priced car insurance coverage in Colorado Springs is not as hard as you think. Nearly every person who quotes car insurance should find a lower-cost company. But Colorado vehicle owners must comprehend how insurance companies charge you for coverage and apply this information to your search.
When comparison shopping, obtaining a wide range of quotes will enable you to find better pricing.
The companies in the list below are our best choices to provide price quotes in Colorado Springs, CO. If you wish to find cheap car insurance in Colorado Springs, we recommend you compare several of them to get the best price comparison.
Three reasons insurance is important
Despite the fact that insurance is not cheap in Colorado Springs, paying for insurance may not be optional for several reasons.
- Almost all states have minimum mandated liability insurance limits which means you are required to carry specific minimum amounts of liability coverage in order to drive the car legally. 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.
- If you took out a loan on your CR-Z, almost every bank will have a requirement that you have comprehensive coverage to guarantee loan repayment. If the policy lapses, the bank may insure your Honda at a significantly higher premium and require you to reimburse them for the much more expensive policy.
- Insurance protects your Honda CR-Z and your assets. It will also reimburse you for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance will also pay for a defense attorney if you are named as a defendant in an auto accident. If your Honda gets damaged, your policy will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance definitely exceed the cost, especially for larger claims. Today the average American driver overpays as much as $850 per year so we recommend shopping around once a year at a minimum to save money.
Get Cheap Insurance Rates by Understanding These Factors
The best way to find cheaper insurance is to take a look at some of the elements that help determine your insurance rates. If you understand what determines base rates, this allows you to make good choices that may result in big savings.
Prevent theft and save – Choosing to buy a car that has a built-in theft deterrent system can help lower your premiums. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop car theft.
Men drivers tend to cost more – Over the last 30 years, statistics show women tend to be less risk to insure than men. Now that doesn’t mean males are worse at driving than females. They both cause auto accidents at about the same rate, but the male of the species tend to have more serious accidents. Not only are claims higher, but men get more serious tickets like reckless driving and DUI. Young men ages 16 to 20 generally have the highest accident percentage and are penalized with high insurance rates.
Annual miles is a factor – The more you drive annually the more you’ll pay to insure it. Almost all companies calculate prices partially by how you use the vehicle. Autos that are left in the garage can be on a lower rate level than cars that get driven a lot. Incorrect rating for your CR-Z may be wasting your money. Verify your policy shows the correct usage for each vehicle, because improper ratings can cost you money.
Pay more for higher performance vehicles – The performance level of the vehicle you need insurance for makes a substantial difference in your premium level. The lowest rates will generally be found on lower cost passenger cars, but that’s not the only thing that factors into the final price.
Policy add-ons can waste money – Policies have extra bells and whistles that can add up if you aren’t diligent. Add-on coverages like roadside assistance, better glass coverage, and motor club memberships are examples of these. These may sound like a good investment at first, but now you might not need them so remove them from your policy.
How much liability insurance – Your insurance policy’s liability coverage will provide protection when you are responsible for physical damage or personal injury to other. It provides for a legal defense to defend your case. Liability insurance is quite affordable compared to other policy coverages, so drivers should carry high limits.
Combine and save – Most major companies will give a discount to buyers who have multiple policies with them. It’s known as a multi-policy discount. Even though this discount sounds good, you still need to comparison shop to guarantee you are still saving the most. It’s possible to still find better rates by buying from different companies
Maintain insurance coverage – Not maintaining insurance is a misdemeanor and your next policy will cost more because you let your insurance coverage expire. In addition to paying higher rates, the inability to provide proof of insurance will get you a revoked license or a big fine.
Loss probability for a Honda CR-Z – Insurers use data from past claims to help calculate premium rates. Models that historically have a trend towards higher claims will be charged more to insure. The table below illustrates the compiled insurance loss statistics for Honda CR-Z vehicles.
For each coverage type, the claim amount for all vehicles, regardless of manufacturer or model, is set at 100. Values that are 100 or less suggest losses that are better than average, while values over 100 point to more losses or an increased likelihood of larger losses.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Honda CR-Z Hybrid | 106 | 87 | 83 | 98 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
There’s no such thing as the perfect car insurance policy
When it comes to proper insurance coverage for your personal vehicles, there really is not a one-size-fits-all type of policy. Each situation is unique so this has to be addressed.
For instance, these questions might help in determining if you may require specific advice.
- Do I need to file an SR-22 for a DUI in Colorado?
- What is no-fault insurance?
- Is my camper covered by my car insurance policy?
- Does insurance cover tools stolen from my truck?
- Does my insurance cover a custom paint job?
- Should I waive the damage coverage when renting a car?
- Does my insurance cover my expensive audio equipment?
- Do I need higher collision deductibles?
If it’s difficult to answer those questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies.
Ratings for Colorado car insurance companies
Selecting the highest-rated insurer can be difficult considering how many companies are available to choose from in Colorado Springs. The ranking data in the next section may help you decide which auto insurers you want to consider putting your business with.
Top 10 Colorado Springs Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- Nationwide – 90%
- The Hartford – 89%
- GEICO – 89%
- The General – 88%
- 21st Century – 88%
- Liberty Mutual – 88%
Final considerations
When trying to cut insurance costs, do not skimp on coverage in order to save money. There have been many situations where someone sacrificed uninsured motorist or liability limits only to discover later that it was a big mistake. Your goal should be to purchase plenty of coverage at the best price, but do not sacrifice coverage to save money.
In this article, we presented some good ideas how to lower your Honda CR-Z insurance rates in Colorado Springs. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding the cheapest Honda CR-Z rate quotes. You may even find the lowest rates are with a lesser-known regional company. These companies can often insure niche markets at a lower cost than their larger competitors like State Farm or Progressive.
There are still a few companies who do not offer online rate quotes and usually these regional insurance providers only sell through local independent agencies. Low-cost Honda CR-Z insurance in Colorado Springs can be found both online and also from your neighborhood Colorado Springs agents, so you need to compare both to have the best chance of lowering rates.
Much more information about car insurance in Colorado is available at these links:
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Who Has the Cheapest Colorado Springs Auto Insurance Rates for State Employees? (FAQ)
- Who Has Affordable Auto Insurance Rates for Drivers Over Age 50 in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Car Insurance Quotes for High Risk Drivers? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Veterans in Colorado Springs? (FAQ)
- Who Has the Cheapest Car Insurance for Drivers Requiring a SR22 in Colorado Springs? (FAQ)
- How Much is Auto Insurance for Postal Workers in Colorado Springs? (FAQ)
- Who Has Affordable Car Insurance Quotes for Inexperienced Drivers in Colorado Springs? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)