Are you regretting the purchase of an overpriced auto insurance policy? Trust us, many Breckenridge drivers have buyer’s remorse. Numerous insurance companies battle to insure your vehicles, so it’s not easy to compare every provider and get the definite lowest cost out there.
These discounts can slash auto insurance rates
Companies don’t necessarily list all possible discounts very clearly, so we researched a few of the more well known and also the lesser-known auto insurance savings.
- Discount for Swiching Early – Some companies reward drivers for signing up prior to the expiration date on your current policy. Ten percent is about the average savings.
- Accident Free – Claim-free drivers are rewarded with significantly better rates on as compared to policyholders that have many claims.
- E-sign – A few larger online companies will give you a small discount simply for signing digitally online.
- Good Student Discount – Being a good student could provide a savings of up to 20% or more. This discount can apply up to age 25.
- Policy Bundle Discount – If you combine your auto and homeowners policies with one insurance company you could save over 10 percent off each policy depending on the company.
- Discounts for Government Workers – Federal government employees could cut as much as 10% off with some auto insurance companies.
- Discounts for Responsible Drivers – Insureds without accidents can get discounts for up to 45% lower rates than drivers with accidents.
- Multi-line Discount – If the company offers life insurance, you could get a lower rate if you buy some life insurance too.
Keep in mind that most discounts do not apply the the whole policy. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like all those discounts means the company will pay you, you’re out of luck. Any qualifying discounts will cut your policy premiums.
If you would like to choose from a list of providers that offer multiple discounts in Colorado, click here.
When do I need an agent’s advice?
When it comes to buying coverage for your personal vehicles, there isn’t really a one size fits all plan. Every insured’s situation is different so your insurance should reflect that For example, these questions might help in determining whether or not you would benefit from professional advice.
- What if I total my vehicle and owe more than it’s worth?
- Am I covered when driving someone else’s vehicle?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Does my personal policy cover me when driving my company car?
- Am I covered by my spouse’s policy after a separation?
- What should my uninsured motorist coverage limits be in Colorado?
- Does medical payments coverage apply to all occupants?
- Does my insurance cover a custom paint job?
- Should I have combined single limit or split liability limits?
If it’s difficult to answer those questions but a few of them apply then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.
Find out more about auto insurance
Much more information about auto insurance in Colorado can be found on the . Click here for link. Colorado drivers can discover disciplinary actions, find a variety of consumer forms, and report car insurance fraud.
Don’t give up on cheaper rates
In this article, we presented many ideas to lower your auto insurance premium rates. The key concept to understand is the more times you quote, the better chance you’ll have of finding . You may be surprised to find that the most savings is with some of the smallest insurance companies. These smaller insurers may only write in your state and offer lower prices as compared to the big name companies such as State Farm or Progressive.
When you , it’s not a good idea to buy poor coverage just to save money. There are a lot of situations where consumers will sacrifice collision coverage only to find out that it was a big error on their part. Your strategy should be to buy a smart amount of coverage for the lowest price while still protecting your assets.