Are you tired of being strong-armed each month for car insurance? You are no different than most other car owners in Colorado. Numerous insurers battle for your insurance dollar, so it can be very hard to choose a provider to get the best rates possible.
If you have a policy now or need new coverage, you will benefit by learning to get lower rates while maintaining coverages. Finding affordable coverage in Parker is easy if you know what you’re doing. Colorado consumers just need to understand the proper methods to shop their coverage around over the internet.
Verify you’re getting all your discounts
The price of auto insurance can be rather high, but you can get discounts that many people don’t even know exist. Most are applied at the time of purchase, but lesser-known reductions have to be inquired about before you will receive the discount. If they aren’t giving you every credit possible, you’re just leaving money on the table.
- Multi-policy Discount – When you have multiple policies with the same insurance company you may save approximately 10% to 15%.
- Employee of Federal Government – Simply working for the federal government may qualify you for a discount depending on your company.
- Homeowners Savings – Owning a house in Parker can save you money because maintaining a house is proof that your finances are in order.
- Claim Free – Claim-free drivers pay less when compared with accident-prone drivers.
- Air Bag Discount – Vehicles equipped with air bags can qualify for discounts of more than 20%.
- Drive Safe and Save – Drivers who avoid accidents can pay as much as 50% less than drivers with accidents.
- Anti-lock Brake Discount – Vehicles with anti-lock braking systems are safer to drive and earn discounts up to 10%.
- Service Members Pay Less – Being on active duty in the military may qualify for rate reductions.
- Memberships – Participating in a professional or civic organization is a good way to get lower rates when shopping for car insurance.
- Good Students Pay Less – Getting good grades can earn a discount of 20% or more. This discount can apply up until you turn 25.
Drivers should understand that most credits do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Just because it seems like you would end up receiving a 100% discount, you won’t be that lucky. Any amount of discount will help reduce your premiums.
Which Car Insurance is Cheapest in Parker?
Finding lower car insurance rates can be surprisingly simple. The only thing you need to do is invest a little time to get quotes from different insurance companies. This can be accomplished using a couple different methods.
- The most efficient way to get the best comparison quotes is an all-inclusive rate comparison click here to open form in new window. This form saves time by eliminating separate quotation requests for each company you want a rate for. Just one form gets rate comparisons from multiple low-cost companies.
- A harder way to find lower rates is going to each company’s website to complete a price quote. For sake of this example, we’ll assume you want rates from State Farm, 21st Century and GEICO. To get rate quotes you would need to go to every website and enter your policy data, and that’s why the first method is more popular. For a list of links to insurance companies in Parker, click here.
Whichever way you use, make darn sure you compare identical coverages and limits on every quote. If you compare different limits and deductibles on each one it will be next to impossible to make a fair comparison in Parker.
Understand what determines the rate you pay
It’s important that you understand the factors that help determine car insurance rates. Knowing what influences your rates enables informed choices that may reward you with much lower annual insurance costs.
The following are a partial list of the pieces car insurance companies consider when setting rates.
- The more you drive the more you pay – The higher the mileage driven every year the more you’ll pay to insure your vehicle. Almost all companies charge to insure your cars determined by how the vehicle is used. Cars used primarily for pleasure use get more affordable rates than those used for commuting. Double check that your car insurance declarations sheet is showing the correct usage for each vehicle.
- More than one policy can earn a discount – Some car insurance companies will give a discount to customers who have multiple policies with them, otherwise known as a multi-policy discount. Even with this discount, it’s in your best interest to compare other company rates to make sure you are getting the best deal. Drivers may still find better rates by splitting coverages up.
- Your car insurance rates can be influenced by your job – Did you know that where you work can have an impact on rates? Occupations like doctors, business owners and accountants are shown to have higher rates than average attributed to high stress and long work days. On the flip side, professions such as pilots, athletes and homemakers pay the least.
- Older drivers pay less – Mature drivers are viewed as being more responsible, tend to file fewer claims and receive fewer citations. Youthful drivers have a tendency to be less responsible in a vehicle and because of this, their car insurance rates are much higher.
- A lapse in coverage is a bad thing – Letting your insurance expire is a guaranteed way to pay more for car insurance. Not only will you pay more, getting caught without coverage will get you a hefty fine and possibly a revoked license.
- Liability coverage protects you – Your policy’s liability coverage provides coverage if a court rules you are at fault for damages caused by your negligence. Liability provides legal defense up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so do not skimp.
- Better credit means lower rates – Having a bad credit score is a large factor in calculating your car insurance rates. If your credit score is lower than you’d like, you could be paying less to insure your by repairing your credit. Drivers with excellent credit tend to file fewer claims and have better driving records than those with poor credit.
- Lower deductibles cost more – Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your car. Some examples of claims that would be covered are colliding with a building, vandalism, and burglary. Your deductibles are how much you are willing to pay in the event of a claim. The more expense the insured has to pay upfront, the lower your rates will be.
When should I talk to an agent?
When buying adequate coverage for your vehicles, there is no single plan that fits everyone. Everyone’s situation is unique so your insurance should reflect that These are some specific questions may help you determine if your situation might need an agent’s assistance.
- How high should my uninsured/underinsured coverage be in Colorado?
- Am I covered when driving in Canada or Mexico?
- Do I qualify for additional discounts?
- I have good health insurance, so how much medical payments coverage do I need?
- Is business property covered if stolen from my car?
- Is my nanny covered when driving my vehicle?
If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It’s fast, free and may give you better protection.
Online plus local equals savings
When trying to cut insurance costs, don’t be tempted to reduce coverage to reduce premium. There have been many situations where an accident victim reduced uninsured motorist or liability limits and learned later that the savings was not a smart move. Your goal should be to purchase a proper amount of coverage at the best price.
We just covered some good ideas how you can save on car insurance. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding lower rates. Consumers may even find the lowest rates come from an unexpected company. These smaller insurers may have significantly lower rates on certain market segments than the large multi-state companies such as State Farm, GEICO and Nationwide.
Budget-conscious car insurance is attainable on the web and also from your neighborhood Parker agents, so compare prices from both to have the best rate selection. Some insurance companies may not provide you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.
Additional information can be read on the website for the Colorado DORA Division of Insurance found here. Colorado drivers can view agent and company licensing information, find out which companies have the most complaints, and read enforcement actions against agents and companies.
The articles below may also help you learn more about car insurance in Parker