How to Know You're Throwing Money Away for Auto Insurance in Columbine Valley
Are you tired of robbing Peter to pay Paul each month for car insurance? You're in the same situation as the majority of other car owners in Colorado.
Because you have many auto insurance companies to choose from, it's nearly impossible to locate the cheapest car insurance company.
It's important to price shop coverage once or twice a year because prices are constantly changing. Just because you found the best price a few years ago you will most likely find a better rate today. Forget anything you know (or think you know) about auto insurance because you're about to learn how to use online quotes to lower your rates without sacrificing coverage.
Finding affordable coverage in Columbine Valley is quite easy. In a nutshell, every vehicle owner who has to buy auto insurance should be able to save money. Nevertheless, Colorado drivers do need to know how insurance companies sell online and apply this information to your search.
Be sure to get all your discounts
Companies offering auto insurance don't always list all their discounts very well, so we took the time to find both well-publicized as well as the least known ways to save on auto insurance.
- Discount for New Cars - Putting insurance coverage on a new car is cheaper because new vehicles have to meet stringent safety requirements.
- Payment Method - If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.
- One Accident Forgiven - Some insurance companies will forgive one accident before your rates go up as long as you don't have any claims for a set time period.
- Theft Prevention Discount - Vehicles equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more.
- Clubs and Organizations - Participating in a professional or civic organization could trigger savings on auto insurance.
- Driver's Ed - Make teen driver coverage more affordable by requiring them to complete a driver education course if it's offered in school.
- Save over 55 - If you qualify as a senior citizen, you may be able to get a discount up to 10%.
- Drive Less and Save - Fewer annual miles can earn better rates on cars that stay parked.
Consumers should know that most discount credits are not given to the entire cost. Most only reduce individual premiums such as collision or personal injury protection. So even though it sounds like all the discounts add up to a free policy, companies don't profit that way.
Is there truth in advertising?
Auto insurance companies such as GEICO, State Farm and Progressive continually stream television and radio advertisements. They all seem to make the same claim of big savings after switching your policy. But how can every company make almost identical claims?
Insurance companies can use profiling for the right customer that earns them a profit. For example, a desirable insured could possibly be over the age of 50, has no tickets, and has a short commute. A customer getting a price quote who matches those parameters will get the preferred rates and is almost guaranteed to save a lot of money.
Drivers who don't measure up to this ideal profile will have to pay a higher premium which leads to the driver buying from a lower-cost company. The ads state "customers that switch" but not "drivers who get quotes" save that kind of money. That's why insurance companies can confidently make the claims of big savings. Because of the profiling, you should get as many quotes as possible. It's impossible to know the company that will fit your personal profile best.
More Colorado auto insurance information
More tips and info about auto insurance can be found at the Colorado DORA Division of Insurance website. Colorado consumers can file complaints about an insurance agent or broker, view a list of available companies, learn about insurance regulations, and read consumer alerts.
Also read more on Auto Insurance 101 and this page where you can research Columbine Valley insurance agents.
Affordable insurance is out there
As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. In many instances, an insured dropped physical damage coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to get the best coverage possible at a price you can afford.
Cost effective auto insurance can be sourced online in addition to many Columbine Valley insurance agents, and you should be comparing both to have the best selection. Some insurance providers do not provide you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.
