Looking for the cheapest insurance rates for your Chevrolet Colorado? Have you had enough of trying to scrape together enough money each month for car insurance? You are in the same boat as many other drivers.
Insurance companies such as State Farm, Farmers Insurance, GEICO and Allstate all claim big savings, bombarding you with fancy advertisements and consumers find it hard to ignore the flashy ads and find the best price available.
Auto insurance companies do not list all available discounts in an easy-to-find place, so we researched both the well known and the harder-to-find savings tricks you should be using.
A little note about advertised discounts, many deductions do not apply to the entire policy premium. Most only cut specific coverage prices like physical damage coverage or medical payments. Even though it may seem like all those discounts means the company will pay you, you won’t be that lucky.
Companies who might offer some of the above discounts include:
Before buying, ask all companies you are considering which discounts they offer. Some discounts might not be offered in your state.
Consumers need to have an understanding of the different types of things that go into determining insurance coverage rates. Knowing what controls the rates you pay allows you to make educated decisions that may reward you with much lower annual insurance costs.
When choosing the right insurance coverage for your vehicles, there is no perfect coverage plan. Everyone’s situation is a little different so your insurance should reflect that These are some specific questions could help you determine whether or not you would benefit from professional advice.
If you can’t answer these questions but a few of them apply then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.
Progressive, GEICO, Allstate and State Farm constantly bombard you with ads in print and on television. All the companies make an identical promise that you’ll save big if you switch your coverage to them. But how can every company say the same thing? It’s all in the numbers.
Different companies have a preferred profile for the type of driver that is profitable for them. For example, a profitable customer might be profiled as between 25 and 40, owns a home, and has a high credit rating. A driver who matches those parameters will get very good rates and as a result will probably save a lot of money.
Consumers who are not a match for these standards will have to pay higher rates and ends up with business not being written. The ads say “people who switch” but not “drivers who get quotes” save money. That is how companies can claim big savings. Because of the profiling, you absolutely need to get quotes from several different companies. It’s not possible to predict which company will fit your personal profile best.
Having a good grasp of your auto insurance policy aids in choosing the right coverages for your vehicles. The terms used in a policy can be confusing and coverage can change by endorsement. Listed below are typical coverage types available from auto insurance companies.
Uninsured/Underinsured Motorist coverage
Your UM/UIM coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.
Medical payments coverage and PIP
Med pay and PIP coverage provide coverage for bills such as funeral costs, pain medications and prosthetic devices. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. It covers all vehicle occupants as well as if you are hit as a while walking down the street. PIP is only offered in select states but can be used in place of medical payments coverage
This covers damage to your Colorado resulting from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things like colliding with a tree, backing into a parked car and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to choose a higher deductible in order to get cheaper collision rates.
Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like damage from flooding, fire damage, theft, hitting a bird and rock chips in glass. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Auto liability insurance
This can cover injuries or damage you cause to other people or property in an accident. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 100/300/100 that means you have $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.
Liability coverage protects against claims such as funeral expenses, medical services and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford.
We’ve covered many ways to save on 2012 Chevy Colorado insurance. The key concept to understand is the more rate quotes you have, the higher the chance of saving money. Drivers may discover the lowest priced car insurance comes from a company that doesn’t do a lot of advertising. These smaller insurers may cover specific market segments cheaper than the large multi-state companies such as State Farm or Progressive.
When buying insurance coverage, don’t be tempted to reduce needed coverages to save money. There are a lot of situations where drivers have reduced uninsured motorist or liability limits and learned later they didn’t have enough coverage. Your focus should be to get the best coverage possible at a price you can afford, not the least amount of coverage.
Discount insurance can be found both online as well as from independent agents, so you should compare both in order to have the best chance of saving money. Some insurance companies don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.
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