If you’ve never shopped for auto insurance online, you may be confused by the vast number of auto insurance companies vying for business in Fort Collins.
It’s smart to get comparison quotes at least once a year since insurance rates change regularly. Even if you think you had the lowest price a couple years back a different company probably has better rates today. There is a lot of bad information regarding auto insurance online but by reading this article, you’re going to learn some good information on how to find affordable auto insurance.
This article will familiarize you with the best way to quote coverages. If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using this strategy. Colorado consumers only need to know the most efficient way to find the lowest price over the internet.
How to Compare Auto Insurance Costs in Fort Collins, Colorado
Cutting your Fort Collins auto insurance rates is not a difficult process. Consumers just need to spend a few minutes to get quotes online from several insurance companies. This can be accomplished in just a few minutes using one of these methods.
- The easiest and least time consuming way consumers can analyze rates is an all-inclusive rate comparison like this one (opens in new window). This type of form saves time by eliminating repetitive form entry for each company. One quote request gets you coverage quotes instantly. Recommended for those who want to invest the least amount of time.
- A slightly less efficient method to compare rate quotes requires you to visit the website for every company you want to comare and complete a new quote form. For instance, let’s assume you want comparison quotes from Farmers, Progressive and Travelers. You would have to visit each site to enter your coverage information, which is why the first method is more popular. For a list of links to insurance companies in Fort Collins, click here.
- The most time-consuming way of comparing rate quotes is driving to insurance agents’ offices. Shopping for auto insurance online makes this process obsolete unless you require the professional advice that only a license agent can provide. It is possible to comparison shop online and still use a local agent.
Whichever method you choose, make absolute certain that you use identical coverage information for every quote you compare. If you enter unequal deductibles or liability limits it will be next to impossible to truly determine the lowest rate in Fort Collins.
Be sure to get all your discounts
The price of auto insurance can be rather high, but there are discounts available that you may not even be aware of. Certain discounts will be applied when you quote, but less common discounts must be specially asked for prior to receiving the credit. If they aren’t giving you every credit possible, you’re just leaving money on the table.
- Military Discounts – Having a family member in the military can result in better rates.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class if it’s offered in school.
- Safety Course Discount – Successfully completing a driver safety course could cut 5% off your bill if you qualify.
- Passive Restraints and Air Bags – Vehicles with factory air bags can receive discounts up to 30%.
- Government Employees – Simply working for the federal government could cut as much as 10% off with a few auto insurance companies.
- Paperless Signup – A few companies will give a small break just for signing your application over the internet.
- Resident Student – Children who attend school more than 100 miles from home and do not have a car may qualify for this discount.
A little note about advertised discounts, most credits do not apply to the entire policy premium. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears all those discounts means the company will pay you, auto insurance companies aren’t that generous. But any discount will help reduce the amount you have to pay.
For a list of insurers with discount auto insurance rates in Colorado, follow this link.
Car insurance 101
Having a good grasp of your policy aids in choosing which coverages you need and the correct deductibles and limits. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording.
Liability insurance
This can cover injuries or damage you cause to other people or property that is your fault. It protects YOU against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 100/300/100 that translate to a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability insurance covers claims such as emergency aid, loss of income, legal defense fees, pain and suffering and structural damage. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible. Colorado state minimum liability requirements are 25,000/50,000/15,000 but drivers should carry higher limits.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses for things like pain medications, X-ray expenses, chiropractic care and EMT expenses. The coverages can be used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and also covers any family member struck as a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your vehicle.
Because many people have only the minimum liability required by law (25/50/15), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Collision coverage
This pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like scraping a guard rail, backing into a parked car, rolling your car and colliding with another moving vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.
Comprehensive coverage (or Other than Collision)
This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive insurance covers claims like a broken windshield, damage from flooding and theft. The most you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Much more information about auto insurance in Colorado is available on the Colorado DORA Division of Insurance website through this link. Colorado consumers can read enforcement actions against agents and companies, find disaster information, and find out which companies have the most complaints.
Also read more on NAIC.org’s Understanding your Policy and this page where you can also get Fort Collins auto insurance quotes.