If saving the most money is your goal, then the best way to quote cheaper auto insurance rates in Colorado Springs is to do an annual price comparison from different companies that insure vehicles in Colorado.
- Step 1: Try to comprehend how insurance works and the factors you can control to keep rates down. Many risk factors that cause high rates such as at-fault accidents, speeding tickets, and a less-than-favorable credit history can be remedied by being financially responsible and driving safely.
- Step 2: Compare rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like Progressive or State Farm, while independent agencies can quote rates for a wide range of companies.
- Step 3: Compare the new rate quotes to your existing rates to see if a cheaper price is available in Colorado Springs. If you find a better price and switch companies, verify that coverage does not lapse between policies.
One key aspect when comparing rates is to make sure you’re comparing identical coverages on every quote request and to quote with as many different companies as possible. Doing this helps ensure a level playing field and the best price quote selection.
Surprisingly, a recent survey revealed that over 70% of Colorado drivers renewed their policy with the same company for more than four years, and approximately 38% of consumers have never even compared rates from other companies. Many drivers in America could save $850 a year just by comparing rates, but they just assume it takes a lot of time to save money by comparing rate quotes.
Just remember that making a lot of price comparisons provides better odds of finding the best price.
The providers in the list below offer free quotes in Colorado Springs, CO. To get cheap auto insurance in Colorado Springs, CO, we recommend you visit two to three different companies to find the most affordable auto insurance rates.
Three good reasons to insure your Honda Insight
Even though it’s not necessarily cheap to insure a Honda in Colorado Springs, buying car insurance may be required and benefits you in several ways.
First, just about all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability insurance 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 have a lien on your car, it’s most likely the lender will require that you have comprehensive coverage to protect their interest in the vehicle. If you let the policy lapse, the bank may buy a policy for your Honda for a lot more money and require you to fork over a much higher amount than you were paying before.
Third, car insurance protects both your assets and your Honda. Insurance will also pay for all forms of medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, your car insurance policy will cover the repair costs.
The benefits of having insurance greatly outweigh the cost, particularly if you ever have a claim. An average driver in America is currently overpaying as much as $700 annually so compare quotes from several companies at least once a year to help ensure money is not being wasted.
Honda Insight insurance statistics and information
The coverage information displayed next outlines estimates of prices for Honda Insight models. Learning more about how insurance quotes are calculated can help guide drivers when making smart choices when comparing insurance quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $114 | $244 | $338 | $20 | $100 | $816 | $68 |
| Insight EX | $130 | $288 | $338 | $20 | $100 | $876 | $73 |
| Get Your Own Custom Quote Go | |||||||
Premium 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, homeowner, multi-vehicle, safe-driver, and claim-free. Estimates do not factor in specific Colorado Springs garaging location which can lower or raise coverage prices noticeably.
Higher deductibles lower rates
One of the more difficult decisions when buying car insurance is how high should the physical damage deductibles be. The comparisons below determine the rate differences when you choose different physical damage deductibles. The first price estimate table uses a $100 deductible for comp and collision and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $264 | $546 | $352 | $20 | $106 | $1,313 | $109 |
| Insight EX | $302 | $644 | $352 | $20 | $106 | $1,449 | $121 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $146 | $288 | $352 | $20 | $106 | $912 | $76 |
| Insight EX | $168 | $340 | $352 | $20 | $106 | $986 | $82 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Prices do not factor in garaging location in Colorado Springs which can affect coverage prices greatly.
We can derive from the above data that using a $100 deductible could cost the average driver approximately $36 more each month or $432 a year averaged for all Insight models than opting for the higher $1,000 deductible. Since you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 25 months between claims, you would save more money if you choose the higher deductible.
The information below demonstrates how choosing different deductibles and can influence Honda Insight premium costs for different insured age categories. The premiums are based on a single male driver, comp and collision included, and no discounts are applied to the premium.
How accidents and tickets impact rates
The chart below illustrates how traffic citations and at-fault claims can influence Honda Insight car insurance costs for each different age category. The premiums are based on a single female driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Honda Insight liability-only versus full coverage
The information below visualizes the comparison of Honda Insight yearly insurance costs with and without physical damage coverage. The rate quotes are based on no tickets, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are applied to the premium.
When to buy liability coverage only
There is no exact rule for excluding full coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s pretend your Honda Insight replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $5,000 after you pay the deductible. If it’s costing you more than $500 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are a few situations where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
These discounts can lower your auto insurance rates
Insuring your vehicles can cost a lot, but companies offer discounts to cut the cost considerably. Certain credits will be shown when you quote, but less common discounts must be requested specifically before you get the savings. If you’re not getting every credit available, you’re just leaving money on the table.
- Military Discounts – Being deployed in the military may qualify for rate reductions.
- Policy Bundle Discount – If you combine your home and auto policies with one company you could get a discount of at least 10% off all policies.
- Theft Prevention System – Vehicles optioned with advanced anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Clubs and Organizations – Affiliation with specific professional or occupational memberships or organizations could earn you a nice discount on your policy.
- Seat Belt Usage – Drivers who always wear seat belts and also require passengers to use their safety belts can save a little off the personal injury premium cost.
- Safe Drivers – Insureds who avoid accidents may receive a discount up to 45% than drivers with accident claims.
- ABS Brakes – Cars and trucks with ABS braking systems or traction control can stop better under adverse conditions and the ABS can save up to 10%.
It’s important to note that most credits do not apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. Just because you may think it’s possible to get free car insurance, companies wouldn’t make money that way.
The example below illustrates the difference between Honda Insight yearly insurance costs with and without policy discounts. The premiums are based on a female driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-policy, marriage, multi-car, and homeowner discounts applied.
Some of the larger companies that possibly offer these benefits include:
Before purchasing a policy, check with each insurance company which credits you are entitled to. Some of the discounts discussed earlier might not be available to policyholders in Colorado Springs.
You may need specialized car insurance coverage
When buying proper insurance coverage for your personal vehicles, there really is not a one-size-fits-all type of policy. Every insured’s situation is different.
For instance, these questions may help highlight if your insurance needs could use an agent’s help.
- Does coverage extend to a rental car in a foreign country?
- Do I need replacement cost coverage on my Honda Insight?
- Should I have a commercial auto policy?
- Is other people’s property covered if stolen from my vehicle?
- Where can I find DUI or SR-22 insurance?
- How do I file an SR-22 for a DUI in Colorado?
- What is the rate difference between pleasure use and commuting?
- How long can I keep a teen driver on my policy?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form.