Nobody cherishes buying car insurance, especially when the price is too high.
Having so many different company options, it is hard for the average consumer to pick the best provider.
Pricing affordable car insurance coverage in Broomfield is simple if you know the tricks. In a nutshell, anyone who buys car insurance will more than likely be able to reduce their rates. Nevertheless, Colorado drivers must understand how big insurance companies price insurance differently and use this information to your advantage.
Do you qualify for a discount?
Car insurance is not cheap, but you may find discounts to help offset the cost. Some discounts apply automatically at quote time, but less common discounts must be specially asked for prior to getting the savings.
- Drivers Ed for Students – Have your child take driver’s ed class if it’s offered in school.
- Paperless Signup – A few companies give back up to $50 for buying your policy online.
- Passive Restraint Discount – Vehicles with factory air bags and/or automatic seat belt systems may earn rate discounts up to 30%.
- Federal Employees – Active or retired federal employment can save as much as 8% with a few car insurance companies.
- Good Students Pay Less – Getting good grades can earn a discount of 20% or more. The discount lasts up until you turn 25.
- Safe Drivers – Safe drivers can get discounts for up to 45% lower rates than drivers with accident claims.
- Fewer Miles Equal More Savings – Keeping the miles down can earn a substantially lower rate.
It’s important to understand that most discounts do not apply the the whole policy. The majority will only reduce the price of certain insurance coverages like comp or med pay. Just because it seems like it’s possible to get free car insurance, companies wouldn’t make money that way. Any amount of discount will reduce your overall premium however.
To choose providers with the best car insurance discounts in Broomfield, click here.
Learn How to Lower your Rates
Smart consumers have a good feel for the factors that play a part in calculating the rates you pay for car insurance. When you know what positively or negatively impacts premium levels enables informed choices that may reward you with much lower annual insurance costs.
- Poor credit can mean higher rates – A driver’s credit score is a huge factor in determining your rates. Drivers who have high credit ratings tend to be better drivers and file fewer claims than those with lower ratings. If your credit rating is low, you could pay less to insure your by improving your rating.
- Lower miles equals lower premium – Driving more miles in a year the more you’ll pay to insure your vehicle. Almost all companies apply a rate based on how the vehicle is used. Cars and trucks used primarily for pleasure use qualify for better rates than those used for commuting. Double check that your car insurance coverage is showing the proper vehicle usage.
- Better crash test results mean better rates – Cars with high safety ratings can get you lower premiums. Safe vehicles result in less severe injuries and fewer injuries means lower claim amounts and more competitive rates for policyholders.
- More performance means more cost – The make and model of the car you drive makes a significant difference in how high your rates are. Small economy passenger cars generally have the cheapest insurance rates, but other factors influence the final cost greatly.
- High numbers of claims are not good – Insurance companies in Colorado award lower rates to policyholders who are claim-free. If you tend to file frequent claims, you can look forward to either a policy non-renewal or much higher rates. Your insurance policy is designed for major claims that would cause financial hardship.
- Liability insurance protects assets – Liability coverage is the coverage that protects you if ever a court rules you are at fault for damages caused by your negligence. It provides you with a defense in court which can cost thousands of dollars. This coverage is very inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
- Younger drivers pay higher rates – Older insureds are more responsible, file fewer claims and receive fewer citations. Young drivers are statistically proven to be less responsible when behind the wheel therefore car insurance rates are much higher.
- Lower deductibles cost more – Insurance for physical damage to your car, also known as collision and other-than-collision, is used to repair damage to your car. Examples of covered claims are colliding with a building, collision with an animal, or theft. Deductibles for physical damage are how much you are willing to pay out-of-pocket before your car insurance pays a claim. The higher the amount you’re willing to pay, the lower your rates will be.
Additional car insurance links
Additional information is located on the website for the Colorado DORA Division of Insurance. Click here for link. Visitors are able to file complaints about an insurance agent or broker, find out which companies have the most complaints, read enforcement actions against agents and companies, and view a list of available companies.
Other informative sites include Auto Insurance 101 and this link where you can get more info about Broomfield coverage.
Discount car insurance is possible both online and also from your neighborhood Broomfield agents, and you need to comparison shop both to have the best selection. Some insurance companies may not provide you the ability to get quotes online and most of the time these small, regional companies sell through independent agents.
We just presented many ways to save on car insurance. It’s most important to understand that the more times you quote, the better your chances of lowering your rates. Consumers could even find that the most savings is with the smaller companies. These companies may cover specific market segments cheaper than the large multi-state companies such as GEICO and State Farm.
When you buy insurance online, make sure you don’t buy poor coverage just to save money. In too many instances, an insured cut full coverage only to find out that their decision to reduce coverage ended up costing them more. Your aim should be to find the BEST coverage for the lowest price, not the least amount of coverage.