It goes without saying that car insurance companies want to keep your business as long as possible. Consumers who shop around will, in all likelihood, buy a new policy because there is a high probability of finding a lower-priced policy. Remarkably, a study showed that drivers who compared price quotes annually saved approximately $860 a year compared to drivers who never compared other company’s rates.
If finding the best rates on auto insurance is your ultimate target, then having a grasp of how to shop for cheaper coverage can help you succeed in saving money.
To save the most money, the best way to get affordable car insurance rates is to regularly compare price quotes from insurers in Colorado Springs.
- First, take a little time to learn about auto insurance and the modifications you can make to keep rates in check. Many factors that result in higher prices like high-risk driving behaviors and poor credit rating can be improved by paying attention to minor details. This article gives instructions to get better rates and find possible discounts that are available.
- Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only quote rates from a single company like Progressive and State Farm, while agents who are independent can quote prices for a wide range of companies.
- Third, compare the quotes to your existing coverage to see if a cheaper price is available in Colorado Springs. If you find a better price and change companies, make sure there is no lapse in coverage.
- Fourth, tell your current company to cancel the current policy and submit payment along with a signed and completed policy application for the new policy. As soon as coverage is bound, place the new certificate of insurance in an easily accessible location.
A good piece of advice is to compare the same amount of coverage on every quote and and to get prices from as many companies as you can. Doing this provides an accurate price comparison and a complete price analysis.
When shopping for low cost Colorado Springs auto insurance quotes, there are a couple of ways of comparing rate quotes from different companies. The best way to compare Acura TSX insurance prices is to perform an online rate comparison.
Getting rate quotes online is very simple and it takes the place of having to make phone calls or go to local Colorado Springs insurance agencies. The internet eliminates the middleman unless you have a complicated situation and need the advice and guidance of a local Colorado Springs agent. Drivers can price shop online but purchase the actual policy in an agency. Just keep in mind that obtaining a wide range of quotes provides better odds of finding the best rates.
The following companies are ready to provide free quotes in Colorado Springs, CO. If you want to find the cheapest car insurance in Colorado, we suggest you compare several of them in order to get a fair rate comparison.
Car insurance statistics for an Acura TSX
The table below covers different insurance policy prices for Acura TSX models. Knowing how car insurance premiums are established can help drivers make informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| TSX | $162 | $332 | $314 | $18 | $94 | $920 | $77 |
| TSX Technology Package | $162 | $332 | $314 | $18 | $94 | $920 | $77 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate information does not factor in specific garaging location which can alter rates noticeably.
Analysis of deductible levels
One of the most common car insurance questions is where should you set your physical damage deductibles. The tables below sum up the difference in cost when you buy lower versus higher comp and collision deductibles. The first rate comparisons uses a $100 physical damage coverage deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| TSX | $342 | $644 | $298 | $18 | $90 | $1,417 | $118 |
| TSX Technology Package | $342 | $644 | $298 | $18 | $90 | $1,417 | $118 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| TSX | $250 | $434 | $298 | $18 | $90 | $1,090 | $91 |
| TSX Technology Package | $250 | $434 | $298 | $18 | $90 | $1,090 | $91 |
| 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 safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in specific Colorado Springs garaging location which can influence price quotes considerably.
Using the data above, we can ascertain that using a $100 deductible will cost in the ballpark of $27 more each month or $324 for a full year than opting for the higher $500 deductible. Since you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at least 15 months between claim filings, you would save money by going with a higher deductible.
The diagram below shows how different deductible levels and can change Acura TSX yearly insurance costs for each age group. The rate quotes are based on a married female driver, full coverage, and no discounts are taken into consideration.
Careless drivers pay higher rates
The diagram below highlights how speeding tickets and at-fault collisions can impact Acura TSX annual premium costs for different age groups of insureds. The premium estimates are based on a married male driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
Rate comparison of males versus females
The illustration below illustrates the difference between Acura TSX insurance costs for male and female drivers. The rates are based on no accidents, no driving violations, full coverage, $100 deductibles, single status, and no other discounts are factored in.
Should you buy full coverage?
The chart below shows the comparison of Acura TSX annual premium costs with and without full coverage. The costs are based on no accidents, no driving violations, $1,000 deductibles, marital status is single, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no exact rule for eliminating full coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s assume your Acura TSX replacement cost is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after you pay the deductible. If it’s costing in excess of $400 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some circumstances where buying only liability insurance is not a good idea. If you haven’t satisfied your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
Buying the right vehicle insurance in Colorado is an important decision
Despite the high insurance cost for a Acura TSX in Colorado Springs, maintaining insurance is mandatory in Colorado but it also protects more than you think.
- Most states have mandatory liability insurance requirements which means you are required to carry a specific minimum amount of liability coverage 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.
- If you took out a loan on your Acura, most lenders will stipulate that you have insurance to guarantee loan repayment. If you do not keep the policy in force, the lender may have to buy a policy to insure your Acura at a significantly higher premium and require you to reimburse them a much higher amount than you were paying before.
- Auto insurance preserves both your assets and your vehicle. It will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance will also pay to defend you if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the repair costs.
The benefits of buying auto insurance more than offset the price you pay, specifically if you ever have a liability claim. Today the average American driver is overpaying over $865 each year so it’s recommended you shop around at least once a year to help ensure money is not being wasted.
Why You Might Pay Inflated Rates in Colorado Springs
It’s important that you understand a few of the rating criteria that go into determining your insurance rates. When you know what positively or negatively controls the rates you pay, this enables you to make decisions that can help you get lower rates. Many things are used when you get your auto insurance bill. A few of the factors are predictable like an MVR report, but other factors are more obscure such as your marital status or your vehicle rating.
Urban residents pay more – Being located in smaller towns and rural areas of the country has definite advantages when it comes to insurance. Less people living in that area means reduced accidents as well as less vandalism and auto theft. People in densely populated areas have to deal with much more traffic and higher rates of accident claims. More time on the road means a statistically higher chance of an accident.
Don’t abuse claims – Auto insurance companies in Colorado give the best rates to people who file claims infrequently. If you are a frequent claim filer, you can definitely plan on much higher rates or policy non-renewal. Your car insurance is designed for claims that pose a financial burden.
Job reflects on rates – Did you know your career choice can influence rates? Occupations like judges, social workers, and dentists tend to pay the highest rates because of high stress levels and extremely grueling work hours. Conversely, occupations such as actors, historians and the unemployed receive lower rates.
Always keep your insurance in place – Having an insurance coverage lapse will be a sure-fire way to increase your rates. And not only will your rates increase, the inability to provide proof of insurance could result in a revoked license or a big fine.
If you don’t need it don’t buy it – Policies have extra coverages that can waste your money on your insurance policy. Things like replacement cost coverage, towing, and extra life insurance coverage could be just wasting money. These may sound like a good investment initially, but if you don’t need them get rid of them and save.
Drive a fast car, truck or SUV and pay more – The performance level of the vehicle you drive makes a significant difference in your rates. The lowest performance passenger models generally receive the lowest base rates, but other factors influence the final cost greatly.
The following chart uses these variables: single female driver age 50, full coverage with $100 deductibles, and no discounts or violations. The chart compares Acura TSX rates compared to other models that have a range of performances.
Don’t give up on cheap rates
Some companies do not offer rate quotes online and most of the time these smaller companies prefer to sell through independent agents. Lower-priced auto insurance in Colorado Springs can be sourced online and also from your neighborhood Colorado Springs agents, and you should compare rates from both to have the best selection.
We’ve covered a lot of information how to get a better price on Acura TSX insurance in Colorado Springs. The key concept to understand is the more price quotes you have, the better your chances of lowering your prices. You may even be surprised to find that the lowest priced auto insurance comes from a smaller regional carrier. Smaller companies often have lower prices on specific markets than the large multi-state companies such as State Farm or Progressive.
Additional detailed information can be read at these sites:
- How to shop for a safer car (Insurance Institute for Highway Safety)
- How Much are Car Insurance Quotes for a Subaru Outback in Colorado Springs? (FAQ)
- How Much are Colorado Springs Auto Insurance Quotes for a Toyota Camry? (FAQ)
- Liability Insurance Coverage (Nationwide)
- Vehicle Insurance in the U.S. (Wikipedia)
- Think You’re a Safe Driver? (State Farm)
- Steps to Take After an Auto Accident (Insurance Information Institute)