Tired of not being able to afford to pay your car insurance bill each month? You are in the same boat as many other Colorado drivers. You have so many insurance companies to insure vehicles with, and though it is a good thing to have a choice, it makes it harder to adequately compare rates.
Consumers need to take a look at other company’s rates on a regular basis because prices tend to go up over time. Just because you found the lowest price a few years ago the chances are good that you can find a lower rate today. So just forget anything you know (or think you know) about auto insurance because you’re about to learn the best way to remove unneeded coverages and save money.
Finding affordable coverage in Brighton is easy if you know what you’re doing. If you have car insurance now, you will be able to lower your premiums substantially using these methods. Colorado vehicle owners just need to know the proper methods to buy auto insurance on the web.
Rate influencing factors
Smart consumers have a good feel for the rating factors that go into determining the rates you pay for auto insurance. Knowing what impacts premium levels enables informed choices that will entitle you to much lower annual insurance costs.
Listed below are a partial list of the pieces auto insurance companies consider when setting prices.
- High performance equals high price – The performance of the car you drive makes a big difference in the rate you pay. Lower performance four cylinder passenger vehicles generally receive the lowest base rates, but other factors influence the final cost greatly.
- Where do you drive? – The more you drive in a year the higher your rates will be. Almost all companies price each vehicle’s coverage based on how the vehicle is used. Autos that are left in the garage receive lower rates than vehicles that are driven to work every day. Verify your auto insurance policy properly reflects the correct driver usage, because improper ratings can cost you money.
- What are your deductibles? – Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your car from damage. A few examples of covered claims would be colliding with a building, damage caused by hail, or theft. The deductibles are the amount of money you are willing to pay in the event of a claim. The more money you have to pay, the less your auto insurance will be.
- Rates may be lower depending on your job – Occupations such as judges, business owners and stock brokers have the highest rates due to job stress and lengthy work days. On the other hand, jobs such as pilots, students and retirees get better rates.
- Safer cars cost less to insure – Safer cars tend to have better insurance rates. Safer cars reduce injuries and fewer injuries translates into savings for insurance companies passed on to you as lower rates.
- A lapse in coverage is a bad thing – Allowing your coverage to lapse will be a fast way to increase your auto insurance rates. And not only will your rates increase, but being ticketed for driving with no insurance can result in a license revocation or jail time.Then you may be required to submit proof of financial responsibility or a SR-22 with the Colorado DMV.
- Your location is important – Being located in less populated areas is a positive aspect when insuring your vehicles. Less people living in that area means fewer accidents as well as less vandalism and auto theft. Drivers who live in large Colorado cities regularly have more traffic problems and much longer commute distances. Higher commute times translates into higher accident risk.
- An active claims history can cost you – If you tend to file frequent claims, you can expect either policy cancellation or increased premiums. Car insurance companies in Colorado give lower rates to people who do not rely on their insurance for small claims. Your insurance policy is intended for the bigger claims that can’t be paid out-of-pocket.
How to Compare Auto Insurance in Brighton, Colorado
Most companies such as 21st Century, Allstate and State Farm quote insurance quotes on their websites. This process is pretty painless as you simply enter your personal and coverage information as detailed in the form. Behind the scenes, their system gets credit information and your driving record and returns a price based on many factors. Online quotes streamlines rate comparisons, but the process of having to visit different websites and fill out multiple forms can be a bit repetitive. But it is imperative to get many rate quotes if you are searching for better auto insurance pricing.
The preferred way to get multiple rate quotes is to use a quote form that analyzes rates from a lot of companies. The form is fast, requires less work, and makes online shopping much simpler. Immediately after submitting the form, it is rated with multiple companies and you can pick any one of the resulting price quotes. If the quotes result in lower rates, it’s easy to complete the application and purchase the new policy. The whole process can be completed in less than 10 minutes and you will know how your current rates stack up.
To compare rates using this form now, click here and enter your vehicle and coverage information. To compare your current rates, we recommend you complete the form with the limits and deductibles exactly as shown on your declarations page. This makes sure you’re receiving a fair comparison based on similar coverages.
Auto insurance myths debunked
Colorado drivers get pounded daily by advertisements for the lowest price auto insurance by 21st Century, Allstate and State Farm. They all say the same thing that you’ll save big if you switch to their company.
How do they all say the same thing?
All the different companies can use profiling for the driver that earns them a profit. An example of a profitable customer might be profiled as between 30 and 50, has no driving citations, and has a high credit rating. A driver that hits that “sweet spot” will get very good rates and most likely will save when they switch companies.
Drivers who don’t qualify for these standards will be quoted a higher premium which leads to the customer not buying. The ads say “people who switch” not “everyone that quotes” save that much. That’s the way companies can truthfully advertise the way they do. This emphasizes why you absolutely need to get as many quotes as possible. It’s impossible to know which insurance companies will fit your personal profile best.
Don’t miss out on these money-saving discounts
Companies don’t always advertise all available discounts very well, so we break down some of the best known and the more hidden discounts you could be receiving. If you don’t get every credit possible, you are throwing money away.
- Air Bag Discount – Vehicles with factory air bags and/or automatic seat belt systems can get savings up to 30%.
- Claim Free – Claim-free drivers can save substantially as compared to drivers who are more careless.
- Save over 55 – If you qualify as a senior citizen, you can possibly qualify for better auto insurance rates.
- Low Mileage Discounts – Keeping the miles down could qualify for discounted rates on garaged vehicles.
- Clubs and Organizations – Affiliation with a civic or occupational organization could qualify you for a break when buying auto insurance.
- Good Students Pay Less – Performing well in school can get you a discount of up to 25%. The discount lasts until age 25.
- Multiple Policy Discount – If you insure your home and vehicles with the same company you could get a discount of up to 20% off your total premium.
- Save with a New Car – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
- Accident Forgiveness – A handful of insurance companies allow you one accident without raising rates as long as you don’t have any claims for a particular time prior to the accident.
A little note about advertised discounts, most discounts do not apply to all coverage premiums. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears you can get free auto insurance, companies don’t profit that way.
Even more information can be found at the Colorado DORA Division of Insurance website. Visitors are able to read industry bulletins, download brochures, and find out which companies have the most complaints.
More quotes mean more savings
In this article, we presented many ideas to save on auto insurance. The key thing to remember is the more price quotes you have, the better your comparison will be. You may be surprised to find that the best price on auto insurance is with some of the lesser-known companies. These smaller insurers often have lower prices on specific markets than the large multi-state companies such as Allstate or State Farm.
When buying insurance coverage, never skimp on critical coverages to save a buck or two. There have been many situations where consumers will sacrifice full coverage and learned later that it was a big mistake. The aim is to find the BEST coverage at the best price while not skimping on critical coverages.