Trying to find cheaper insurance for a Chevy Colorado can turn out to be a painful process, but you can follow a few tricks to save time. There is a right way and a wrong way to compare auto insurance rates and you need to know the absolute fastest way to quote coverages for a new or used Chevy and obtain the lowest price.
It’s smart to compare prices every six months since insurance rates are usually higher with each renewal. Just because you had the lowest rates for Colorado insurance last year a different company probably has better rates today. Ignore everything you know about auto insurance because you’re about to learn how to quote online to reduce your cost while improving coverage.
Companies that sell car insurance don’t always list every available discount in a way that’s easy to find, so here is a list both well-publicized as well as the least known ways to save on insurance coverage. If you aren’t receiving every discount possible, you’re just leaving money on the table.
A little note about advertised discounts, most discount credits are not given to the entire policy premium. Most cut individual premiums such as collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, you’re out of luck.
For a list of insurance companies with the best insurance coverage discounts, click this link.
When buying adequate coverage for your personal vehicles, there really is no cookie cutter policy. Every insured’s situation is different.
For example, these questions can help discover if your situation could use an agent’s help.
If you’re not sure about those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form. It only takes a few minutes and can help protect your family.
Knowing the specifics of your insurance policy helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy.
Comprehensive insurance – Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like vandalism, damage from flooding and fire damage. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage provide coverage for immediate expenses for things like surgery, EMT expenses, chiropractic care and rehabilitation expenses. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not universally available and may carry a deductible
Collision coverages – This coverage pays for damage to your Colorado resulting from colliding with another car or object. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against claims such as crashing into a building, backing into a parked car, colliding with another moving vehicle, colliding with a tree and scraping a guard rail. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Uninsured/Underinsured Motorist (UM/UIM) – This provides protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked.
Liability coverages – Liability insurance protects you from injuries or damage you cause to other’s property or people in an accident. It protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000.
Liability can pay for claims such as loss of income, structural damage, legal defense fees, emergency aid and bail bonds. The amount of liability coverage you purchase is up to you, but you should buy as high a limit as you can afford.
Consumers who switch companies do it for a variety of reasons including being labeled a high risk driver, not issuing a premium refund, poor customer service and policy non-renewal. No matter why you want to switch, switching insurance companies is not as difficult as it may seem.
When trying to cut insurance costs, it’s a bad idea to sacrifice coverage to reduce premiums. In many cases, an insured cut liability coverage limits only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to get the best coverage possible at an affordable rate while still protecting your assets.
We covered some good ideas how to save on 2007 Chevy Colorado insurance. It’s most important to understand that the more rate comparisons you have, the more likely it is that you will get a better rate. You may even find the best price on insurance is with the smaller companies.