Sunday November 17, 2013
In the state of Colorado, auto insurance is the law. If you operate a motor vehicle, you are required to carry a minimum amount of liability coverage. That means that your insurance carrier will pay at least $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $15,000 per accident for property damage. You can choose to cover yourself beyond these requirements, and lenders will require you to add additional collision and/or comprehensive coverage. Your Fort Collins insurance agent can help you determine which type of policy is right for you. If you are looking to auto insurance discounts, there are several things you will want to consider.
- Safe Driving. Perhaps nothing can affect your auto insurance premium more than a safe driving record. When you receive quotes, be sure to provide accurate information about previous accidents and driver’s license point deductions. If your record is less than spotless, you can still overcome past issues with time and a clean record as you move forward.
- Keep it Covered. Another event that can cause spikes in your auto insurance premium is a recent lapse in your coverage. To maintain auto insurance discounts, make sure that you maintain required coverage for you and your vehicle.
- Get an Education. A driver’s education, that is. Most people know that beginning drivers can benefit from driver’s education, but as you get older, you may find cheaper rates if you complete a defensive driving course. Insurance rates are often higher for people under 25, and they begin to drop as we get older and experience other life events, such as marriage. Drivers over 55, however, can begin to see their premiums increase, and a driver’s education course can help keep your rates lower.
- Choose the Right Deductible. The deductible you choose will have a direct impact on the premium you pay. The higher the out-of-pocket costs for you, the lower your rate will be. Your Fort Collins insurance agent can help you determine whether the cheapest rate might be more expensive in the long run.
There are many factors that can help you determine the appropriate deductible for you, including how much you will use your car, and the value of your assets (i.e. your children or other passengers, and your vehicle’s value). If you are financing your car, your lender will require a specific level of collision coverage, which protects the value of the car in case of accident, and comprehensive coverage, which protect the car from weather events, vandalism, and theft.
- Combine Your Policies. Your independent Fort Collins insurance agent can help you find the cheapest rates available for all of your insurance needs, including homeowners insurance and life insurance. For some customers, combining more than one plan with one insurer can help you get auto insurance discounts.
- Discover Hidden Discounts. Many people are unaware that their individual circumstances allow them to receive discounts. If you are a military veteran, you may be able to find discounted rates. Membership in certain organizations may offer the benefit of rate savings. If you work for certain employers, there may be specific insurance discounts available. When you check with your independent insurance agent, they can walk you through all of your potential discounts.
You may also be unaware that your credit score can affect your rates. Insurance carriers have discovered a correlation with poor credit scores and additional insurance claims. Therefore, the higher your credit score, the lower your rate.
- A Discount to Match Your Vehicle and Your Lifestyle. Although Colorado auto insurance is primarily based on the driver, when you sign up for liability and/or collision coverage, the car you drive can make a difference. Sports cars and high performance vehicles are engaged in more accidents. Also, trucks and sport utility vehicles tend to cause more damage in collisions, leading to higher rates. Safer automobiles lead to lower premiums.
Where you live can also be a factor in your premium. People who live in urban areas are more likely to drive in high traffic, high accident risk situations. Also, the prevalence of auto theft can increase you comprehensive coverage rates.
- Up Front Payment. Most insurers allow you to pay your premium in monthly installments, with the first and last months due up front. Paying your premium in full usually allows you to pay less, and it gives you the peace of mind of knowing that your coverage will be continuous and not subject to cancellation for late payment.
When an independent insurance agent works with several insurers, they can find the cheapest rates available, even for drivers with an adverse driving history. One call to Insurance By Phone lets you rest assured that your dependable Fort Collins insurance agent is going to find you the best rates and the right coverage for you.