Unthinkable but true, almost 70% of drivers in Colorado have been with the same company for at least the last four years, and 38% of customers have never compared auto insurance rates at all. American drivers could pocket almost $860 a year just by comparing rates, but they just don’t understand how much savings they would realize if they switch to a new company.
The best way to get the cheapest auto insurance rates in Colorado Springs is to compare prices regularly from insurers in Colorado.
First, try to learn about how your policy works and the modifications you can make to prevent high rates. Many rating criteria that increase rates like speeding tickets, accidents and a poor credit rating can be eliminated by making small lifestyle or driving habit changes.
Second, compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO and State Farm, while independent agents can give you price quotes for many different companies.
Third, compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you find a lower rate, make sure there is no lapse between the expiration of your current policy and the new one.
The critical component of shopping around is that you’ll want to compare the same liability limits and deductibles on each quote request and and to get rate quotes from every insurance company. Doing this ensures the most accurate price comparison and a complete price analysis.
Locating the most cost-effective car insurance policy in Colorado Springs is easy if you know what you’re doing. In a nutshell, every vehicle owner who needs lower cost car insurance most likely will find a lower-cost policy. Although Colorado consumers benefit from understanding the way companies set your policy premium because rates are impacted by many factors.
The best way we recommend to compare policy rates for Lexus IS 250 insurance in Colorado Springs is to know the fact auto insurance companies actually pay money for the chance to give free rates quotes. All you need to do is take a few minutes to give details including the make and model of your vehicles, whether you are single or married, how much you drive, and types of safety features. Those rating factors is instantly provided to all major companies and you get price estimates quickly.
To check Lexus IS 250 insurance prices now, click here and enter your coverage details.
The car insurance companies shown below provide free rate quotes in Colorado. In order to find the best auto insurance in CO, we recommend you click on several of them to get the lowest price.
Lexus IS 250 insurance coverage information
The table below highlights estimates of coverage costs for Lexus IS 250 models. Having insight into how insurance policy premiums are calculated can benefit drivers when making smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 250 4-Dr Sedan | $182 | $442 | $388 | $22 | $116 | $1,150 | $96 |
| IS 250 AWD 4-Dr | $202 | $442 | $388 | $22 | $116 | $1,170 | $98 |
| IS 250 C 2-Dr Convertible | $202 | $442 | $456 | $28 | $136 | $1,264 | $105 |
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Rate quotes do not factor in the specific area where the vehicle is garaged which can influence coverage rates considerably.
How high should deductibles be?
When comparing insurance rates, the most common question is how high should the deductibles for physical damage be. The comparison tables below can help show how much more rates are between low and high insurance deductibles. The first set of rates uses a $250 deductible for physical damage and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 250 4-Dr Sedan | $306 | $620 | $298 | $18 | $90 | $1,357 | $113 |
| IS 250 AWD 4-Dr | $342 | $620 | $298 | $18 | $90 | $1,393 | $116 |
| IS 250 C 2-Dr Convertible | $342 | $620 | $352 | $20 | $106 | $1,465 | $122 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 250 4-Dr Sedan | $190 | $390 | $298 | $18 | $90 | $986 | $82 |
| IS 250 AWD 4-Dr | $210 | $390 | $298 | $18 | $90 | $1,006 | $84 |
| IS 250 C 2-Dr Convertible | $210 | $390 | $352 | $20 | $106 | $1,078 | $90 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Premium amounts do not factor in specific Colorado Springs garaging location which can influence price quotes significantly.
Based on the figures above, using a $250 deductible will cost you about $32 more each month or $384 annually than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 23 months between claims, you would probably be better off if you choose the higher deductible.
Calculation for raising deductibles
| Average monthly premium for $250 deductibles: | $117 |
| Average monthly premium for $1,000 deductibles (subtract): | – $85 |
| Monthly savings from raising deductible: | $32 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $32 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
An important sidenote is that a higher deductible level means you will have to cover more of the damage yourself when you file a claim. It will be required that you have enough money stashed away in order to pay the deductible.
Rate comparison of men versus women
The example below illustrates the comparison of Lexus IS 250 auto insurance rates for male and female drivers. The rates are based on no claims or driving citations, comp and collision included, $500 deductibles, drivers are single, and no discounts are applied to the premium.
Lexus IS 250 liability-only versus full coverage
The illustration below shows the comparison of Lexus IS 250 insurance premiums when comparing full coverage to liability only. The costs are based on no accidents, no driving violations, $1,000 deductibles, drivers are single, and no policy discounts are applied.
Are you wasting money paying for full coverage?
There is no exact rule of when to phase out physical damage coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s say your Lexus IS 250 replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $5,000 after paying the physical damage deductible. If you are paying over $500 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some situations where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.
These discounts can lower your insurance quotes
Car insurance is not cheap, but you might find some hidden discounts to help bring down the price. Certain credits will be shown when you get a quote, but once in a while a discount must be asked about prior to getting the savings. If you are not receiving all the discounts you deserve, you’re just leaving money on the table.
- Discounts for Federal Employees – Being employed by or retired from a federal job may qualify for a discount when you quote Colorado Springs auto insurance with some insurance companies.
- Low Mileage Discounts – Keeping the miles down on your Lexus could be rewarded with substantially lower rates.
- Clubs and Organizations – Belonging to qualifying employment or professional organizations could qualify you for a break when getting a Colorado Springs auto insurance quote.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen with less frequency and qualify for as much as a 10% discount.
- Defensive Driver – Taking a safe driver course could cut 5% off your bill if your company offers it.
- No Charge for an Accident – This one isn’t a discount, but some companies like GEICO and Liberty Mutual may permit one accident before hitting you with a surcharge if you are claim-free before the accident.
Discounts lower rates, but many deductions do not apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. Despite the appearance that adding up those discounts means a free policy, companies wouldn’t make money that way.
The example below illustrates the comparison of Lexus IS 250 auto insurance rates with and without discounts applied. The premiums assume a female driver, no claims or violations, Colorado state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, safe-driver, marriage, and multi-policy discounts applied.
Companies who might offer many of the previously listed discounts include:
If you need lower rates, check with each company how many discounts you can get. Some of the earlier mentioned discounts might not be available to policyholders in your state. To find insurers who offer online Lexus IS 250 insurance quotes in Colorado, follow this link.
Insurance just makes sense
Despite the high cost of buying insurance for a Lexus IS 250 in Colorado Springs, insuring your vehicle serves several important purposes.
- Most states have mandatory insurance requirements which means state laws require specific minimum amounts of liability insurance coverage in order to license the vehicle. 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 your Lexus IS 250 has a loan, it’s most likely the lender will make it mandatory that you have insurance to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank may buy a policy for your Lexus at a much higher premium rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance protects your Lexus and your assets. Insurance will also pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers legal expenses in the event you are sued. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of having insurance greatly outweigh the cost, specifically if you ever have a liability claim. In a recent study of 1,000 drivers, the average customer overpays more than $850 per year so you should quote rates at every policy renewal to ensure rates are competitive.
Colorado Springs auto insurance company ratings
Choosing the top auto insurance provider is difficult considering how many companies sell insurance in Colorado Springs. The ranking data shown below may help you choose which car insurance providers you want to consider comparing rates with.
Top 10 Colorado Springs Car Insurance Companies Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- GEICO
- Liberty Mutual
- Progressive
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Top 10 Colorado Springs Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Progressive – A+
- Titan Insurance – A+
Can’t I compare prices from local Colorado Springs insurance agents?
Some people still like to go talk to an agent. One of the benefits of comparing car insurance online is the fact that you can find lower rates and also buy local.
After filling out this quick form, the quote information gets sent to participating agents in Colorado Springs who will give you quotes for your insurance coverage. There is no reason to find an agent on your own since rate quotes are delivered directly to your email. You can most likely find cheaper rates without requiring a lot of work. If you have a need to compare prices for a specific company, you can always find their quoting web page to submit a rate quote request.
Deciding on an provider should depend on more than just the premium amount. Get answers to these questions too.
- Are all drivers listed on the coverage quote?
- Is the agency active in community causes in Colorado Springs?
- How are they compensated?
- Does the company use OEM repair parts?
- Which insurance company do they prefer to write with?
Listed below are Colorado Springs insurance companies that may be willing to give price quotes for Lexus IS 250 insurance in Colorado Springs.
American Family Insurance – Dave Karstens Agency Inc.
3225 Templeton Gap Rd Ste 104 – Colorado Springs, CO 80907 – (719) 636-3336 – View Map
Tom Harbert – State Farm Insurance Agent
8027 Academy Blvd N – Colorado Springs, CO 80920 – (719) 594-4500 – View Map
Bob Hawkins – State Farm Insurance Agent
5490 Powers Center Point #132 – Colorado Springs, CO 80920 – (719) 418-3377 – View Map
Farmers Insurance – Patricia Szeredy
6632 Delmonico Dr – Colorado Springs, CO 80919 – (719) 268-0080 – View Map