Chevy Colorado insurance image courtesy of QuoteInspector.com
Truthfully, the best way to find more affordable Chevy Colorado insurance is to compare prices annually from different companies that sell auto insurance in Madison.
First, try to learn about car insurance and the changes you can make to prevent rate increases. Many rating criteria that cause high rates such as your driving record and poor credit history can be controlled by being financially responsible and driving safely.
Second, quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO or State Farm, while independent agencies can quote prices from multiple insurance companies.
Third, compare the quotes to the price on your current policy to see if a cheaper rate is available in Madison. If you can save money and switch companies, make sure there is no lapse in coverage.
The most important part of shopping around is to use the same liability limits and deductibles on each quote and and to look at as many carriers as you can. This enables a level playing field and plenty of rates choose from.
Smart shoppers know that auto insurance companies don't want customers comparing rates. Consumers who shop around are highly likely to switch car insurance companies because the odds are good of finding lower prices. A recent survey discovered that consumers who compared rates regularly saved about $3,500 over four years as compared to drivers who never shopped around for better prices.
If finding the best rates on car insurance in Madison is the reason for your visit, then understanding how to choose a company and compare insurance coverage can make the process more efficient.
If you currently have car insurance, you will definitely be able to find better prices using the techniques presented in this article. Buying the cheapest car insurance in Madison is not that difficult. Nevertheless, Wisconsin drivers must know how big insurance companies price insurance differently and take advantage of how the system works.
There are several ways of comparing rate quotes from different Madison insurance companies. The easiest way to compare Chevy Colorado insurance prices involves getting comparison quotes online.
Comparison shopping rate quotes online is easy and it takes the place of having to physically go to different agent offices. The ability to quote Chevy Colorado insurance online makes this process obsolete unless you're the type of person who wants the trained guidance of an agent trained in personal lines coverage. Although you can obtain prices from the web and still use a local agent. Just remember that comparing more rates from different companies helps you find a better price. Some insurance companies are not set up to provide Madison Colorado insurance quotes online, so it's recommended that you also compare quotes from those companies as well.
The providers in the list below can provide free rate quotes in Wisconsin. If multiple companies are listed, we suggest you click on several of them in order to find the most competitive rates.
Affordable Madison auto insurance quotes with discounts
The cost of insuring your cars can be expensive, but you can get discounts that many people don't even know exist. Many of these discounts will be applied automatically at the time of purchase, but a few need to be specifically requested in order for you to get them.
- No Claims - Drivers with accident-free driving histories can save substantially in comparison to drivers who are more careless.
- Paperwork-free - Many auto insurance companies will give a small break for completing your application on your computer.
- Professional Memberships - Having an affiliation with a civic or occupational organization in Madison could trigger savings on your next renewal.
- Save over 55 - Mature drivers are able to get lower premium rates.
- Smart Student Discounts - Performing well in school can be rewarded with saving of up to 25%. The good student discount can last well after school through age 25.
- Theft Deterrent System - Cars and trucks equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and will qualify for a discount on a Madison auto insurance quote.
As a footnote on discounts, most discount credits are not given to the overall cost of the policy. Some only apply to specific coverage prices like medical payments or collision. Despite the appearance that you can get free auto insurance, it just doesn't work that way.
The illustration below shows the difference between Chevy Colorado insurance costs with and without discounts applied to the policy premium. The premiums assume a female driver, a clean driving record, no at-fault accidents, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, homeowner, multi-car, claim-free, and marriage discounts applied.
Car insurance companies that possibly offer many of the previously listed discounts include:
Before buying, ask all the companies which discounts you qualify for. Some of the discounts discussed earlier may not apply in your area. To see providers who offer free Chevy Colorado insurance quotes in Madison, click here to view.
Chevy Colorado coverage analysis
The coverage information shown next showcases estimates of insurance costs for Chevy Colorado models. Learning how prices are formulated can help drivers make decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$78||$174||$298||$18||$90||$658||$55|
|Colorado LT Extended Cab 2WD||$92||$212||$298||$18||$90||$710||$59|
|Colorado LT 4WD||$92||$174||$254||$16||$76||$612||$51|
|Colorado LT Crew Cab 2WD||$92||$212||$298||$18||$90||$710||$59|
|Colorado LT Extended Cab 4WD||$92||$174||$254||$16||$76||$612||$51|
|Colorado LT Crew Cab 4WD||$106||$212||$254||$16||$76||$664||$55|
|Get Your Own Custom Quote Go|
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in specific location which can lower or raise rates greatly.
The information below illustrates how your deductible choice and can affect Chevy Colorado insurance premiums for different ages of insureds. Data assumes a married female driver, comp and collision included, and no discounts are applied to the premium.
Safe drivers Madison pay cheaper rates
The illustration below highlights how speeding tickets and accidents influence Chevy Colorado insurance rates for different age categories. The costs are based on a married female driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.
Should you buy full coverage?
The chart below shows the difference between Chevy Colorado insurance costs with liability coverage only compared to full coverage. The data assumes a clean driving record, no at-fault accidents, $250 deductibles, single status, and no discounts are applied to the premium.
Should you pay for full coverage?
There is no clear-cut rule to stop paying for physical damage insurance, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let's pretend your Chevy Colorado claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying your policy deductible. If premium cost is more than $300 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some circumstances where removing full coverage is not recommended. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.
What Impacts Chevy Colorado Insurance Prices?
Lots of factors are used in the calculation when premium rates are determined. Some are pretty understandable such as your driving history, although others are more transparent like your vehicle usage or your financial responsibility.
Lower rates by increasing coverage deductibles - Physical damage insurance, also called 'full coverage', helps pay for damage to your vehicle. Examples of some claims that would be covered could be a windshield shattered by a rock, vandalism, and damage from a fallen tree branch. Comp and collision deductibles define how much you are required to pay if the claim is covered. The more damage repair cost you choose to pay out-of-pocket, the lower your rates will be.
Teenagers vs. older drivers - Young drivers in Wisconsin are statistically proven to be easily distracted when behind the wheel and because of this, their insurance rates are much higher. If you've ever had to add a young driver to your policy can break the bank. Older people are proven to be safer behind the wheel, tend to file fewer claims, and are safer drivers.
The chart below assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
Bundle policies and save money - Most insurance companies apply discounts to buyers who have multiple policies with them in the form of a multi-policy discount. The discount can add up to 10 percent or more. Even with this discount applied, consumers should still compare other company rates to help guarantee you have the best rates. You may still be able to save money by buying from different companies
Marriage can save on insurance - Having a significant other may cut your premiums when buying insurance. Marriage demonstrates that you tend to be more mature and statistics prove married drivers tend to have fewer serious accidents.
Defend yourself with liability coverage - Your policy's liability coverage is the protection if a jury decides you are liable for damages from an accident. Your liability coverage provides legal defense which can be incredibly expensive. Liability is cheap when compared to the cost of physical damage coverage, so do not cut corners here.
Insurance losses for a Chevy Colorado - Insurance companies include the past claim history for a vehicle when setting premium prices. Vehicles that tend to have a higher amount or frequency of claims will cost more for specific coverages.
The table below illustrates the loss history for Chevy Colorado vehicles. For each insurance policy coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is a value of 100. Values below 100 are indicative of better than average losses, while numbers above 100 point to more frequent losses or an increased likelihood of larger losses.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Colorado Crew Cab 2WD||73||57||64|
|Chevrolet Colorado Crew Cab 4WD||90||89||86||67|
|Chevrolet Colorado Ext Cab 2WD||55|
|Chevrolet Colorado Ext Cab 4WD||67|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years