Best Quotes for Honda CR-V Insurance in Colorado Springs

Really, the only way to get budget auto insurance rates in Colorado Springs is to compare prices annually from companies who sell auto insurance in Colorado. Prices can be compared by following these steps.

Step 1: Spend a few minutes and learn about policy coverages and the things you can control to prevent expensive coverage. Many things that drive up the price like high-risk driving behaviors and a less-than-favorable credit score can be improved by making minor changes to your lifestyle.

Step 2: Compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from one company like GEICO or State Farm, while independent agents can provide prices from many different companies.

Step 3: Compare the quotes to your existing coverage and determine if there is any savings. If you find a lower rate, verify that coverage does not lapse between policies.

The key thing to know about shopping around is to make sure you enter the same amount of coverage on every price quote and to quote with as many car insurance companies as possible. This provides an accurate price comparison and many rates to choose from.

It’s hard to believe, but the vast majority of auto insurance customers kept their policy with the same company for a minimum of four years, and practically 40% of auto insurance customers have never compared auto insurance rates at all. Many consumers in Colorado Springs could save an average of up to $610 each year just by getting comparison quotes, but they don’t understand how simple it is to do a rate comparison.

If you are paying for car insurance now, you will definitely be able to find the best rates using this information. Buying the cheapest auto insurance in Colorado Springs is really quite easy. But Colorado car owners do need to understand how the larger insurance companies set your policy premium and use this information to your advantage.

Cheap Honda insurance rates in Colorado Springs

The companies shown below have been selected to offer comparison quotes in Colorado Springs, CO. If you wish to find the best cheap auto insurance in Colorado Springs, we recommend you visit several of them to get the best price comparison.

Rates and data analysis

The rate information displayed below covers a range of insurance costs for Honda CR-V models. Being more informed about how policy premiums are formulated can benefit drivers when making decisions on which coverage to buy.

Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Rate quotes do not factor in specific location information which can change premiums significantly.

Higher deductibles save money

When shopping for insurance, a common question is how high should your deductibles be. The data tables below may help to conceptualize the costs and benefits when you choose different deductibles. The first rate estimation uses a $250 deductible for physical damage and the second price table uses a $1,000 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in specific Colorado Springs garaging location which can lower or raise premiums noticeably.

Using the premium rates above, we can conclude that using a $250 deductible costs roughly $22 more each month or $264 a year across all Honda CR-V models than buying the higher $1,000 deductible. Since you would pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go at a minimum 34 months between claim filings, you would come out ahead by going with a higher deductible. The illustration below shows how we made this calculation.

Bad driving habits will cost you more

The illustration below demonstrates how traffic citations and accident claims can drive up Honda CR-V insurance costs for different ages of insureds. The premium estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.

Full coverage rates compared to liability-only

The illustration below visualizes the comparison of Honda CR-V car insurance costs with liability coverage only compared to full coverage. The data assumes no accidents, no driving violations, $250 deductibles, single status, and no discounts are applied.

Guidelines for dropping full coverage

There is no set guideline of when to phase out physical damage coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s pretend your Honda CR-V replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after paying the physical damage deductible. If premium cost is more than $800 a year to have full coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage.

Get cheaper Honda CR-V insurance rates in Colorado Springs

Car insurance companies don’t always list the entire discount list in a way that’s easy to find, so the below list has both the well known and the harder-to-find credits that you can use to lower your rates. If you are not receiving all the discounts you qualify for, you are throwing money away.

• Good Student Discount – A discount for being a good student can earn a discount of 20% or more. The good student discount can last until age 25.
• Payment Discounts – If you pay your entire premium ahead of time rather than paying monthly you may have a lower total premium amount.
• Student Driver Training – Cut your cost by having your teen driver enroll in driver’s education if it’s offered in school.
• Passive Restraint Discount – Factory options such as air bags or automatic seat belts can qualify for discounts of 20% or more.
• Policy Bundle Discount – When you combine your home and auto insurance and insure them with the same company you may earn approximately 10% to 15%.
• Sign Online – Certain insurance companies provide a small discount for buying a policy and signing up online.
• Homeowners Savings – Owning a house in Colorado Springs can earn you a little savings because maintaining a house requires personal responsibility.
• Low Mileage Discounts – Fewer annual miles on your Honda could qualify for lower premium rates due to less chance of an accident.

You should keep in mind that most discount credits are not given to all coverage premiums. A few only apply to individual premiums such as liability and collision coverage. Just because it seems like all those discounts means the company will pay you, it doesn’t quite work that way.

The information below illustrates the difference between Honda CR-V insurance rates with and without discounts applied to the policy rates. The premiums are based on a female driver, a clean driving record, no claims, Colorado state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, homeowner, multi-policy, claim-free, and marriage discounts applied.

A few popular companies and some of the discounts are:

• GEICO may include discounts for multi-policy, seat belt use, five-year accident-free, driver training, daytime running lights, membership and employees, and federal employee.
• MetLife has savings for accident-free, claim-free, good student, defensive driver, good driver, multi-policy
• State Farm offers premium reductions for driver’s education, anti-theft, multiple policy, multiple autos, good student, and Steer Clear safe driver discount.
• Progressive may have discounts that include online signing, online quote discount, continuous coverage, good student, multi-vehicle, and homeowner.
• Mercury Insurance may offer discounts for multi-car, ease of repair, low natural disaster claims, good driver, accident-free, and age of vehicle.
• 21st Century offers discounts including good student, air bags, 55 and older, driver training, homeowners, and defensive driver.
• Allstate discounts include anti-theft, good student, senior citizen, EZ pay plan discount, and premier discount.

If you need lower rates, check with all the companies how many discounts you can get. Some discounts might not be offered on policies in your state. For a list of providers offering insurance discounts in Colorado Springs, click here.

Independent versus exclusive auto insurance agents

Some people still prefer to visit with an insurance agent and that can be a great decision A nice benefit of comparing insurance online is that drivers can save money and get lower prices and still choose a local agent.

By using this simple form, the coverage information is immediately sent to companies in Colorado Springs that provide free Colorado Springs car insurance quotes for your coverage. It makes it easy because there is no need to find an agent because quoted prices will be sent straight to your inbox. You can most likely find cheaper rates without having to waste a lot of time. In the event you want to compare prices from a specific company, feel free to search and find their rate quote page and fill out the quote form the provide.

Picking the best insurer should depend on more than just a low price. Some important questions to ask are:

• Will the agent or a CSR service your policy?
• Will a damage claim use OEM or aftermarket replacement parts?
• Which companies can they place coverage with?
• Will the agent help in case of a claim?
• Does the agent recommend any additional coverage?

Types of auto insurance agents

If you are wanting to purchase insurance from local Colorado Springs agents, you should know the different agency structures and how they differ in how they can insure your vehicles. Colorado Springs agents are classified as either exclusive or independent agents depending on their company appointments.

Exclusive Insurance Agents

Exclusive agencies can only provide one company’s prices like State Farm, Allstate, and Farm Bureau. Exclusive agents are unable to compare rates from other companies so they have no alternatives for high prices. They are well schooled on their products and sales techniques which helps them compete with independent agents.

Listed below are Colorado Springs exclusive agents that can give you comparison quotes.

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Independent Agencies or Brokers

Independent insurance agents are normally appointed by many insurers so they can write business with multiple insurance companies and find you cheaper rates. If they find a lower price, your agent can switch companies without you having to go to a different agency. If you are comparing insurance prices, we recommend you include a couple of independent agencies in order to have the best price comparison.

Listed below is a list of independent agencies in Colorado Springs willing to provide rate quotes.

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Cheap insurance rates are out there

Cheaper Honda CR-V insurance in Colorado Springs can be found both online and with local Colorado Springs insurance agents, and you need to price shop both in order to have the best chance of saving money. Some insurance providers may not offer rate quotes online and these smaller companies sell through local independent agents.

When searching for low cost Colorado Springs car insurance quotes, don’t be tempted to buy lower coverage limits just to save a few bucks. Too many times, someone sacrificed uninsured motorist or liability limits only to regret that a couple dollars of savings turned into a financial nightmare. Your objective should be to find the BEST coverage at the lowest possible cost, but don’t skip important coverages to save money.

We’ve covered a lot of techniques to save on Honda CR-V insurance in Colorado Springs. The key thing to remember is the more quotes you get, the more likely it is that you will get a better rate. You may even discover the biggest savings come from the smaller companies. Some small companies may often insure only within specific states and give better rates than the large multi-state companies such as Allstate or State Farm.

Additional detailed information is available in these articles:

• Auto Insurance Basics (Insurance Information Institute)
• Who Has the Cheapest Colorado Springs Auto Insurance Rates for a Chevrolet Equinox? (FAQ)
• Who Has Cheap Colorado Springs Car Insurance Quotes for Teenage Females? (FAQ)
• Who Has the Cheapest Car Insurance for Young Drivers in Colorado Springs? (FAQ)
• Who Has Cheap Car Insurance Quotes for Teachers in Colorado Springs? (FAQ)
• How do I File a Claim? (Insurance Information Institute)
• Child Safety Seats (Insurance Information Institute)
• Vehicle Insurance (Wikipedia)