A recent study showed that the vast majority of consumers have been with the same company for well over three years, and almost half have never compared quotes from other companies. Many consumers in Colorado can save hundreds of dollars each year by just comparing quotes, but they won’t spend time to find cheaper insurance by shopping around.
Really, the only way to get the cheapest auto insurance rates in Colorado Springs is to annually compare prices from different companies that insure vehicles in Colorado.
- Step 1: Try to learn about coverages and the modifications you can make to prevent high rates. Many factors that increase rates like traffic citations, accidents, and bad credit can be eliminated by making lifestyle changes or driving safer.
- Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like Progressive or State Farm, while agents who are independent can quote prices from many different companies.
- Step 3: Compare the new rate quotes to your existing policy and see if there is a cheaper rate in Colorado Springs. If you find a better price and buy the policy, make sure coverage does not lapse between policies.
- Step 4: Notify your company or agent of your intent to cancel your current policy. Submit the completed application along with a down payment to the newly selected company. Once received, put the new certificate verifying coverage with the vehicle registration.
One important bit of advice is that you’ll want to compare the same deductibles and limits on each price quote and and to look at as many auto insurance providers as possible. This guarantees an accurate price comparison and the best price quote selection.
If you have a policy now or just want a better rate, you can learn to lower your rates while maximizing coverage. Locating the best rates in Colorado Springs can be made easier if you know where to look. Drivers just need to know the most efficient way to shop for car insurance using one simple form.
Finding cheaper Ford Transit Connect car insurance rates is not rocket science. You just have to invest a little time to compare rates to find the company with the cheapest Ford Transit Connect rate quotes.
It’s so fast and easy to compare rate quotes online that it makes it obsolete to call or drive to each insurance agency near you. Comparing Ford Transit Connect insurance rate quotes online has reduced the need for local agents unless you want the professional guidance of a local Colorado Springs agent. Although, it is possible get the lowest quotes online and get advice from an agent in your area.
The companies in the list below provide free quotes in Colorado Springs, CO. If you want cheap car insurance in Colorado Springs, CO, it’s highly recommended you compare several of them to get the best price comparison.
Insurance coverage analysis
The rate table displayed next covers estimates of insurance coverage prices for Ford Transit Connect models. Learning how car insurance premiums are figured can assist in making smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Transit Connect XL 2WD | $186 | $362 | $358 | $22 | $108 | $1,036 | $86 |
| Transit Connect XLT 2WD | $186 | $362 | $358 | $22 | $108 | $1,036 | $86 |
| Get Your Own Custom Quote Go | |||||||
Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in specific location which can influence insurance rates substantially.
Where to set your deductibles
One of the most common auto insurance questions is how high or low should comp and collision deductibles be. The comparisons below can help you understand the price difference between high and low policy deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Transit Connect XL 2WD | $236 | $458 | $352 | $20 | $106 | $1,197 | $100 |
| Transit Connect XLT 2WD | $236 | $458 | $352 | $20 | $106 | $1,197 | $100 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Transit Connect XL 2WD | $192 | $368 | $352 | $20 | $106 | $1,038 | $87 |
| Transit Connect XLT 2WD | $192 | $368 | $352 | $20 | $106 | $1,038 | $87 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Table data does not factor in vehicle location which can modify prices noticeably.
Using the premium rates above, we can conclude that using a $250 deductible costs an average of $13 more each month or $156 annually than opting for the higher $500 deductible. Because you would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you normally average at a minimum 19 months between claims, you would probably be better off if you elect the higher deductible.
Age-based auto insurance rates by gender in Colorado Springs
The example below compares Ford Transit Connect insurance rates for male and female drivers. The premiums assume no driving violations, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are factored in.
Does full coverage make sense?
The diagram below illustrates the difference between Ford Transit Connect insurance prices with liability coverage only compared to full coverage. The price estimates are based on no claims or driving violations, $250 deductibles, drivers are not married, and no other discounts are factored in.
When to drop comprehensive and collision coverage
There is no exact formula to stop buying full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s assume your Ford Transit Connect replacement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after you pay the deductible. If you are currently paying more than $800 a year for your policy with full coverage, then it could be time to drop full coverage.
There are a few cases where only buying liability is not advised. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Protect your Ford vehicle and other assets
Despite the high cost of buying insurance for a Ford Transit Connect in Colorado Springs, maintaining insurance is not optional due to several reasons.
- Most states have minimum liability requirements which means you are required to carry a minimum amount of liability insurance in order to be legal. 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 have a loan on your Ford, it’s most likely the lender will make it mandatory that you have full coverage to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank may insure your Ford at a more expensive rate and make you pay the higher premium.
- Insurance protects both your assets and your Ford. It will also cover most medical and hospital costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if anyone sues you for causing an accident. If your Ford gets damaged, comprehensive and collision coverage will pay to have it repaired.
The benefits of buying enough insurance definitely exceed the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer overpays as much as $855 a year so you should quote rates every year to ensure rates are inline.
What insurance coverages do you need?
Knowing the specifics of your policy can be of help when determining the best coverages and proper limits and deductibles. Insurance terms can be difficult to understand and nobody wants to actually read their policy. Below you’ll find the usual coverages found on the average insurance policy.
Comprehensive auto coverage – This coverage pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage pays for claims like damage from a tornado or hurricane, vandalism, damage from getting keyed and damage from flooding. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage gives you protection from other motorists when they either have no liability insurance or not enough. It can pay for injuries to you and your family as well as your vehicle’s damage.
Since many Colorado drivers only purchase the least amount of liability that is required (25/50/15), their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.
Auto liability insurance – This coverage provides protection from damage that occurs to other people or property. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/15 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged property.
Liability coverage protects against things such as legal defense fees, medical expenses, court costs, repair costs for stationary objects and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible. Colorado requires minimum liability limits of 25/50/15 but you should consider buying more liability than the minimum.
The next chart shows why buying minimum limits may not provide you with enough coverage.
Collision coverage – Collision insurance pays to fix your vehicle from damage resulting from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things like colliding with a tree, sustaining damage from a pot hole, hitting a parking meter, sideswiping another vehicle and scraping a guard rail. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. You can also increase the deductible on your Transit Connect to bring the cost down.
Medical payments and PIP coverage – Med pay and PIP coverage provide coverage for bills for things like prosthetic devices, nursing services, doctor visits and X-ray expenses. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and may carry a deductible
Find cheap rates by comparing often
You just read a lot of techniques to find cheaper Ford Transit Connect insurance in Colorado Springs. The key thing to remember is the more price quotes you have, the more likely it is that you will get a better rate. Drivers may even discover the most savings is with a small mutual company. They may only write in your state and offer lower rates than the large multi-state companies such as Allstate, GEICO and Progressive.
Lower-priced car insurance in Colorado Springs can be purchased both online and also from your neighborhood Colorado Springs agents, so you should compare both to get a complete price analysis. Some insurance providers may not offer online price quotes and these small insurance companies work with local independent agencies.
Additional detailed information is available in these articles:
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Who Has Affordable Colorado Springs Car Insurance Rates for Drivers Under 25? (FAQ)
- Who Has Affordable Car Insurance for Handicapped Drivers in Colorado Springs? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Auto Theft Statistics (Insurance Information Institute)