Shockingly, most insurance policyholders in Colorado renewed their policy with the same company for at least four years, and virtually 40% of consumers have never compared rates from other carriers. American drivers could save up to 46.5% a year, but most tend to underestimate how much they could save if they bought a different policy.
The best way to get discount auto insurance rates is to compare prices once a year from companies who provide car insurance in Colorado Springs. You can compare rates by following these guidelines.
- Try to understand how your policy works and the things you can change to keep rates low. Many policy risk factors that result in higher rates like inattentive driving and an imperfect credit score can be remedied by paying attention to minor details. This article gives tips to prevent rate hikes and get additional discounts that may have been overlooked.
- Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from one company like GEICO and Allstate, while agents who are independent can quote rates from multiple sources.
- Compare the new quotes to your existing coverage to see if a cheaper price is available. If you find better rates and buy the policy, make sure there is no coverage gap between policies.
One tip to remember is to use similar deductibles and liability limits on every quote request and and to get rate quotes from as many companies as possible. This ensures a fair rate comparison and many rates to choose from.
Buying the cheapest car insurance in Colorado Springs is really not that difficult. Essentially every vehicle owner who buys car insurance will most likely be able to find lower rates. But Colorado drivers must know the way insurance companies price online insurance because rates fluctuate considerably.
Lower rate quotes on BMW M6 insurance in Colorado Springs with these insurance discounts
Car insurance companies don’t always publicize the entire discount list very well, so the following is a list of some of the best known and also the more inconspicuous discounts that you can inquire about if you buy Colorado Springs car insurance online.
- Passive Restraint Discount – Options like air bags may earn rate discounts of up to 25% or more.
- Active Service Discounts – Having an actively deployed family member could trigger a small discount.
- Accident Forgiveness – Not really a discount, but some companies like Allstate and GEICO permit an accident without getting socked with a rate hike so long as you are claim-free for a certain period of time.
- Multi-line Discount – If the company offers life insurance, you could get a small discount if you purchase life insurance.
- New Vehicle Savings – Buying insurance on a new vehicle may earn a small discount since new model year vehicles have better safety ratings.
- Early Signing – Some larger companies reward drivers for renewing your policy before your current expiration date. You can save around 10% with this discount.
- Club Memberships – Joining specific professional or occupational memberships or organizations could qualify you for a break when getting a Colorado Springs car insurance quote.
- Homeowners Savings – Simply owning a home can save a few bucks due to the fact that maintaining a home requires personal responsibility.
We need to note that most of the big mark downs will not be given to the entire cost. Most only apply to the cost of specific coverages such as comp or med pay. Despite the fact that it seems like all those discounts means the company will pay you, you won’t be that lucky.
The example below shows the difference between BMW M6 insurance costs with and without some available policy discounts. The rates are based on a male driver, no claims or driving citations, Colorado state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, claim-free, safe-driver, multi-policy, and homeowner discounts applied.
A few of the larger companies and a partial list of their discounts are outlined below.
- GEICO has discounts for membership and employees, defensive driver, anti-lock brakes, federal employee, and military active duty.
- Travelers has savings for student away at school, continuous insurance, multi-car, multi-policy, hybrid/electric vehicle, driver training, and save driver.
- Farm Bureau may include discounts for driver training, youthful driver, renewal discount, 55 and retired, and good student.
- Liberty Mutual offers premium reductions for multi-policy, new move discount, hybrid vehicle, new graduate, newly married, and multi-car.
- American Family offers discounts for multi-vehicle, accident-free, defensive driver, good driver, good student, air bags, and bundled insurance.
- Progressive may have discounts that include online quote discount, good student, multi-vehicle, continuous coverage, online signing, and homeowner.
Check with each company how you can save money. Some credits might not apply in Colorado Springs. To locate insurance companies that offer discounts in Colorado Springs, click this link.
The best way we recommend to compare rates for BMW M6 insurance in Colorado Springs utilizes the fact most of the larger companies participate in a system to give rate comparisons. To get started, all you need to do is give the companies some data such as whether you are married, your education level, how much you drive, and your occupation. Your information is instantly provided to many different companies and they return quotes very quickly.
If you would like to start a quote now, click here and find out if lower rates are available in Colorado Springs.
The companies in the list below provide quotes in Colorado Springs, CO. To find the best cheap car insurance in Colorado, we recommend you visit two to three different companies to get the most competitive price.
Rates and data analysis
The price information below outlines different insurance prices for BMW M6 models. Having a good grasp of how insurance prices are figured can be of help when making smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M6 2-Dr Coupe | $520 | $1298 | $304 | $18 | $92 | $2,232 | $186 |
| M6 2-Dr Convertible | $558 | $1202 | $448 | $26 | $134 | $2,368 | $197 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rates do not factor in specific location which can revise auto insurance rates greatly.
Car insurance deductibles
One of the most common car insurance questions is how high should the physical damage coverage deductibles be. The following insurance rates can help illustrate the rate fluctuation when you choose different policy deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M6 2-Dr Coupe | $536 | $1324 | $298 | $18 | $90 | $2,291 | $191 |
| M6 2-Dr Convertible | $574 | $1228 | $440 | $26 | $132 | $2,425 | $202 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M6 2-Dr Coupe | $298 | $698 | $298 | $18 | $90 | $1,402 | $117 |
| M6 2-Dr Convertible | $318 | $646 | $440 | $26 | $132 | $1,562 | $130 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Rates do not factor in specific Colorado Springs garaging location which can decrease or increase premiums significantly.
Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you about $73 more each month or $876 each year than buying the higher $1,000 deductible. Because you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have more than 12 months between claims, you would save more money if you choose the higher deductible.
How violations and accidents impact rates
The chart below demonstrates how speeding tickets and at-fault accidents can increase BMW M6 insurance costs for each age group. The rate quotes are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
BMW M6 Insurance Premium Factors
An important part of buying insurance is that you know some of the elements that go into determining auto insurance rates. When you understand what impacts premium levels, this allows you to make educated decisions that could result in better auto insurance rates.
The itemized list below are some of the major factors used by companies to determine premiums.
Does your vocation cost you more? – Occupational choices like judges, business owners, and medical professionals tend to pay higher premium rates due to high stress and incredibly demanding work hours. Conversely, careers such as professors, historians and performers receive lower rates.
Age of drivers impacts premiums – Beginning drivers in Colorado are statistically proven to be less responsible behind the wheel so they pay higher auto insurance rates. Having to add a first-time driver onto a policy can be quite pricey. Mature drivers tend to be more responsible, tend to cause fewer accidents, and get fewer tickets.
The following data assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
Raising coverage deductibles saves money – The deductibles you choose tell how much you are willing to pay out-of-pocket before a claim is paid by your company. Insurance for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your car. Examples of covered claims would be colliding with a stationary object, animal collisions, and damage caused by road hazards. The higher the amount you have to pay, the less your auto insurance will be.
Battle of the sexes – Statistics show that females tend to be a little less risky than males. However, don’t assume that men are WORSE drivers than women. Women and men are responsible for at-fault accidents at a similar rate, but guys cause more damage and cost insurance companies more money. Not only are claims higher, but men receive more major tickets like driving under the influence (DUI).
The illustration below illustrates the difference between BMW M6 insurance rates for male and female drivers. The costs are based on no claims or violations, comprehensive and collision coverage, $100 deductibles, single marital status, and no policy discounts are applied.
Advanced alarms and GPS tracking – Purchasing a vehicle that has a built-in theft deterrent system can help bring down rates. Anti-theft features such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop your vehicle from being stolen.
Car plus home equals more savings – Lots of insurance companies allow better rates to policyholders that buy multiple policies such as combining an auto and homeowners policy. Even with this discount applied, you may still want to check prices from other companies to verify if the discount is saving money. You may still be able to save more without the discount even if you have your coverage with different companies
Annual miles impacts costs – Driving more miles each year the more you will pay for auto insurance. The majority of insurers rate vehicles based on their usage. Cars left parked in the garage receive better premium rates as compared to vehicles used primarily for driving to work. An improperly rated M6 is just wasting money. It’s always a good idea to double check that your auto insurance coverage shows the correct usage for each vehicle.
Performance impacts insurance rates – The make and model of the vehicle you need insurance for makes a big difference in your rates. The lowest rates are usually found on lower performance four cylinder passenger cars, but other factors influence the final cost greatly.
The following chart uses these assumptions: single female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. The data compares BMW M6 car insurance rates compared to other makes and models that have different performances.
Loss statistics for a BMW M6 – Companies use data from past claims when setting premium rates. Models that the data determines to have higher loss trends will have higher rates.
The next table shows the collected loss data for BMW M6 vehicles. For each policy coverage type, the loss probability for all vehicles, as a total average, is considered to be 100. Percentage values below 100 indicate a favorable loss history, while numbers shown that are more than 100 point to more frequent losses or a tendency for claims to be larger.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| BMW M6 2dr | 387 | 339 | ||||
| BMW M6 4dr | 288 | 439 | ||||
| BMW M6 Convertible | 349 | 512 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Local agents and auto insurance
A small number of people still prefer to visit with an insurance agent and that is just fine! The best thing about getting online price quotes is that drivers can save money and get cheap auto insurance quotes but also keep your business local.
After completing this short form, your insurance data gets sent to local insurance agents who will give you bids for your business. There is no need to search for any insurance agencies since rate quotes are delivered instantly to you. You can get cheaper auto insurance rates without the usual hassles of price shopping. If you need to quote rates from a specific company, just go to their quote page to submit a rate quote request.
Finding a good insurance company should depend on more than just a cheap price. The questions below may impact your decision as well.
- Where would glass claims be handled in Colorado Springs?
- Is there any savings for paying the full premium?
- Which insurance company do they prefer to write with?
- What is the agency’s Better Business Bureau rating?
- How experienced are they in personal risk management?
Below is a short list of auto insurance companies in Colorado Springs who can help you get rate quotes for BMW M6 insurance in Colorado Springs.
- Progressive Insurance
12710 Voyager Pkwy – Colorado Springs, CO 80921 – (719) 582-2759 – View Map - Solid Rock Insurance Agency
2850 Serendipity Cir W #230 – Colorado Springs, CO 80917 – (719) 574-0082 – View Map - Dave Beadles – State Farm Insurance Agent
308 W Fillmore St #106 – Colorado Springs, CO 80907 – (719) 632-5433 – View Map - ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave – Colorado Springs, CO 80904 – (719) 473-6262 – View Map
After receiving satisfactory answers to your questions in addition to an acceptable price estimate, you’ve probably found an insurer that meets the criteria to properly insure your vehicles. Keep in mind you are entitled to cancel a policy whenever you want so never assume that you’re stuck with any specific agency for any length of time.
Buying the right BMW vehicle insurance in Colorado is an important decision
Even though Colorado Springs M6 insurance rates can get expensive, buying car insurance may be required and benefits you in several ways.
First, the majority of states have mandatory liability insurance requirements which means the state requires specific limits of liability protection 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.
Second, if your car has a loan, almost all lenders will force you to have physical damage coverage to guarantee loan repayment. If coverage lapses or is canceled, the bank will be required to insure your BMW at a more expensive rate and require you to reimburse them for the expensive policy.
Third, car insurance preserves both your car and your personal assets. Insurance will pay for medical bills for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance will also pay for a defense attorney in the event you are sued. If your vehicle suffers damage from an accident or hail, your car insurance policy will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance outweigh the cost, particularly when you have a large claim. According to a recent study, the average American driver is wasting up to $810 a year so compare rate quotes at every policy renewal to ensure rates are inline.
Smart consumers save more
As you prepare to switch companies, it’s a bad idea to reduce coverage to reduce premium. There are too many instances where an insured dropped collision coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase a proper amount of coverage at the best price, but don’t skip important coverages to save money.
Low-cost BMW M6 insurance in Colorado Springs can be purchased from both online companies and from local agencies, so you need to quote Colorado Springs car insurance with both in order to have the best chance of saving money. Some insurance companies do not offer online rate quotes and many times these regional carriers only sell through independent agents.
In this article, we presented a lot of tips how to save on BMW M6 insurance in Colorado Springs. It’s most important to understand that the more companies you get rates for, the better your chances of lowering your rates. Consumers could even find that the lowest priced auto insurance comes from a smaller regional carrier.
More detailed auto insurance information is located by following these links:
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Who Has Affordable Auto Insurance Rates for Drivers Over Age 50 in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Car Insurance Rates for Drivers Under 25? (FAQ)
- Who Has Cheap Auto Insurance for Police Officers in Colorado Springs? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a Chevrolet Silverado in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance for a Company Car? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Ford Fusion in Colorado Springs? (FAQ)
- How Much are Auto Insurance Rates for Government Employees in Colorado Springs? (FAQ)
- Winter Driving (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)