2005 Chevrolet Colorado Insurance Rates

No normal person loves paying for insurance, especially knowing the cost is too high.

Multiple insurance companies compete to insure your vehicles, and because of this it can be hard to compare auto insurance companies to get the best price available.

You should take the time to get comparison quotes yearly because prices are adjusted regularly by insurance companies. Despite the fact that you may have had the best rates on Colorado insurance six months ago the chances are good that you can find a lower rate quote today. Forget anything you know (or think you know) about insurance because it’s time to teach you the fastest way to find better rates and still maintain coverage.

If you currently have car insurance, you stand a good chance to be able to lower your premiums substantially using these techniques. Buying car insurance is not that difficult. But car owners must comprehend how big insurance companies market insurance on the web and apply this information to your search.

Insurance rates are influenced by these factors

The best way to find cheaper insurance is to take a look at the factors that come into play when calculating the price you pay for insurance. If you know what determines premiums, this empowers consumers to make smart changes that can help you get lower premium levels. Many things are taken into consideration when quoting car insurance. Some are obvious like an MVR report, but other criteria are not quite as obvious such as your marital status and annual miles driven.

  • More than one policy can earn a discount – The majority of companies will award lower prices for people who carry more than one policy, otherwise known as a multi-policy discount. This can amount to five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to get quotes from other companies to guarantee you are still saving the most. It’s possible to still save even more than the discount by buying insurance from more than one company.
  • Younger drivers are expensive to insure – More mature drivers are proven to be safer behind the wheel, tend to cause fewer accidents and get fewer tickets.Young drivers tend to be easily distracted in a vehicle and because of this, their insurance rates are much higher.
  • Always keep your policy in place – Driving any period of time without insurance is against the law and insurance companies will penalize you for letting your coverage lapse. And not only will insurance be more expensive, the inability to provide proof of insurance may result in a revoked license or a big fine. You may need to submit proof of financial responsibility or a SR-22 with your state DMV.
  • How much liability – Liability coverage will provide protection in the event that you are found to be at fault for causing damage or personal injury in an accident. It provides for a legal defense to attempt to prove you were not liable. This coverage is relatively inexpensive as compared to coverage for physical damage, so drivers should carry high limits.
  • Pay more if you have a long commute – Choosing to live in small towns and rural areas can be a good thing when it comes to insurance. City drivers tend to have congested traffic and longer commute times. Less people corresponds to lower accident rates and lower theft and vandalism rates.
  • Getting married is a good thing – Having a significant other helps lower the price when buying insurance. It translates into being less irresponsible and insurance companies like that married drivers get in fewer accidents.
  • Frequent claims increase rates – If you are the type of insured that files lots of claims don’t be surprised to see increased rates or even have your policy non-renewed. Insurance companies give better rates to drivers who do not rely on their insurance for small claims. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
  • Policy add-ons can waste money – Policies have optional add-on coverages that you can buy if you aren’t careful. Insurance for things like roadside assistance, accidental death, and Farm Bureau memberships may be wasting your money. You may think they are a good idea at first, but your needs may have changed so get rid of them and save.

The best way to compare rate quotes is to realize almost all companies provide online access to provide you with a free rate quote. To begin a comparison, all you need to do is give them some information like whether or not you need a SR-22, whether you are single or married, if the vehicle is leased, and if it has an alarm system. The rating information is then submitted to multiple companies and they return rate quotes within a short period of time.

Get cheap insurance rates with discounts

Some providers don’t necessarily list all disounts very well, so the list below gives a summary of some of the more common as well as the least known ways to save on insurance.

  • Discount for New Cars – Insuring a vehicle that is new can be considerably cheaper because new vehicles are generally safer.
  • Claim-Free Discount – Drivers who don’t have accidents can save substantially compared to policyholders that have many claims.
  • Military Discounts – Having an actively deployed family member could mean lower prices.
  • Low Mileage Discounts – Maintaining low annual mileage may enable drivers to earn cheaper rates.
  • Early Signing – A few companies give discounts for signing up prior to your current policy expiring. Ten percent is about the average savings.
  • Paperwork-free – Certain insurance companies may give you up to $50 for buying a policy and signing up online.
  • Theft Prevention System – Cars equipped with tracking devices and advanced anti-theft systems help deter theft so companies will give you a small discount.
  • Passenger Safety Discount – Options like air bags or automatic seat belts may earn rate discounts of 20 to 30 percent.
  • Discount for Multiple Policies – If you have multiple policies and insure them with the same company you could earn a discount of as much as 10 to 15 percent.

One last thing about discounts, most of the big mark downs will not be given to your bottom line cost. Some only reduce the price of certain insurance coverages like comp or med pay. So even though it sounds like you could get a free insurance policy, you’re out of luck.

A few of the larger companies and the discounts they provide are shown below.

  • State Farm has savings for accident-free, Steer Clear safe driver discount, Drive Safe & Save, good driver, good student, student away at school, and passive restraint.
  • GEICO discounts include military active duty, anti-theft, defensive driver, daytime running lights, five-year accident-free, anti-lock brakes, and seat belt use.
  • SAFECO may offer discounts for bundle discounts, multi-car, anti-lock brakes, safe driver, teen safe driver, homeowner, and drive less.
  • Farmers Insurance offers discounts for switch companies, youthful driver, distant student, homeowner, electronic funds transfer, and early shopping.
  • AAA has discounts for education and occupation, good student, good driver, AAA membership discount, pay-in-full, anti-theft, and multi-policy.
  • USAA may include discounts for vehicle storage, family discount, defensive driver, good student, annual mileage, new vehicle, and driver training.

If you need lower rates, check with every company which discounts you qualify for. Some credits might not be available to policyholders in your area. To locate providers that offer the discounts shown above, click here.

Tailor your car insurance coverage to you

When choosing the right insurance coverage for your vehicles, there really is not a best way to insure your cars. Every insured’s situation is different and your policy should reflect that. These are some specific questions can aid in determining whether you would benefit from professional advice.

  • Do I have coverage when using my vehicle for my home business?
  • Can I still get insurance after a DUI?
  • Which is better, split liability limits or combined limits?
  • Are rental cars covered under my policy?
  • Do I really need UM/UIM coverage?
  • Do I benefit by insuring my home with the same company?

If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you don’t have a local agent, complete this form or go to this page to view a list of companies.

What insurance coverages do you need?

Learning about specific coverages of insurance can be of help when determining which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverage types offered by insurance companies.

Liability auto insurance

This will cover damage or injury you incur to a person or their property that is your fault. This insurance protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000. Another option is one number which is a combined single limit which provides one coverage limit without having the split limit caps.

Liability coverage pays for things such as funeral expenses, pain and suffering, medical expenses, court costs and legal defense fees. How much liability should you purchase? That is a personal decision, but buy as much as you can afford.

Uninsured/Underinsured Motorist coverage

This gives you protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea. Normally these limits do not exceed the liability coverage limits.

Collision coverage

This coverage will pay to fix damage to your Colorado resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims such as colliding with another moving vehicle, rolling your car, driving through your garage door, crashing into a building and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. You can also bump up the deductible in order to get cheaper collision rates.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for bills for things like surgery, hospital visits and EMT expenses. They can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not available in all states and may carry a deductible

Comprehensive coverage

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as falling objects, hail damage, rock chips in glass and theft. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Be Smart and Buy Smart

When getting insurance quotes online, make sure you don’t reduce coverage to reduce premium. There are too many instances where an insured dropped liability limits or collision coverage and learned later they didn’t have enough coverage. The proper strategy is to find the BEST coverage at the lowest possible cost, but do not sacrifice coverage to save money.

Lower-priced auto insurance can be bought from both online companies as well as from insurance agents, so you need to quote insurance with both to have the best chance of lowering rates. A few companies do not offer online price quotes and most of the time these small insurance companies provide coverage only through independent agencies.

In this article, we covered a lot of ways to compare 2005 Chevy Colorado insurance rates online. It’s most important to understand that the more companies you get car insurance rates for, the better your chances of lowering your car insurance rates. Drivers may discover the best price on auto insurance is with the least-expected company. Some small companies can often insure niche markets at a lower cost than their larger competitors like Allstate and Progressive.

Additional auto insurance information is located on the following sites: