If you drive a car in Colorado, the state requires you to have at least the minimum required auto liability insurance. However, liability only covers the damage you cause to another driver and their vehicle. So, if you want protection for your car, you’ll have to add physical damage coverage. Adding additional coverages to your policy can increase the premium quickly.
What can you do to be sure that you are getting the best possible deal on your auto insurance in Colorado? Here are five ways to ensure you are getting the most for your dollar.
Colorado Policy Discounts
Many factors go into your auto insurance premium rates. Most of which you cannot change, like your age and where you live. However, you can take advantage of specific discounts to offset the premium. Common auto insurance discounts available to you are, safe driving for all drivers or teens still in school may qualify for a good student discount. Senior drivers may also qualify for a discount. There are even savings for anti-lock brakes and anti-theft device. Be sure to ask about all the discounts available to you. Compare rates today
Lower Your Premiums
In Colorado, high-risk drivers, those who don’t qualify for a standard auto policy because of driving history, violations, job type, or other issues, often pay extremely higher premiums than other drivers. However, there are still ways to save on monthly payments. You can start by always paying your insurance bills on time. Improve your driving record by following the rules of the road and avoiding accidents. You may also receive discounts for attending traffic safety or defensive driving classes. Always be sure to ask what discounts are available to you.
Choose a High Deductible
The higher your deductibles are on your Colorado auto insurance policy, the lower your premiums will be. A deductible is the portion you pay before the insurance company pays on a claim. This option may not be useful if you can’t afford to shell out the extra bucks if you ever need to due to a claim. Pay now or pay later.
Choose the Right Vehicle
If you are buying a new car or your Colorado teen is about to get their license, choose a new ride wisely. For example, the age of the vehicle has a direct impact on premium rates. The older the care, the less it typically costs to insure. Of course, sensible cars with a high safety rating are going to be a better choice than high-performance vehicles.
Choosing the Right Colorado Auto Coverage
It is possible to have too much coverage. If you are trying to save on your auto insurance premiums, only keep those coverages that you need. Keep in mind though, whatever the policy doesn’t cover will be up to you to pay for out of pocket. It’s also worth the effort to shop around. For example, if you drive a classic or collector car, you want to choose a policy that specializes in classic cars.