Cheapest 2006 Chevrolet Colorado Insurance Rates in 2023
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UPDATED: Aug 24, 2022
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Feel like you’re a prisoner to an overpriced car insurance policy? Believe me when I say there are lots of people in the same boat. Numerous insurers battle for your business, and because of this it can be hard to compare insurance companies to find the absolute lowest cost out there.
You should make it a habit to compare rates before your policy renews since rates are rarely the same from one policy term to another. Even if you got the best deal for Colorado coverage a few years ago you can probably find a lower rate today. There is a lot of wrong information about car insurance on the web, but with this article, you’re going to get some great ways to put money back in your pocket.
Finding Insurance Coverage Deals
Comparing insurance coverage rates can be challenging if you don’t understand the fastest way to get free quotes. You can waste a few hours (or days) driving to local insurance agents in your area, or you can stay home and use online quotes for quick rates.
All the larger companies belong to a marketplace where prospective buyers only type in their quote data once, and at least one company can provide price quotes for coverage. This prevents consumers from doing form submissions for each company. To find out how much you’re overpaying now click here (opens in new window).
The only drawback to getting quotes like this is you are unable to specify which providers you want to price. So if you want to select from a list of companies to request quotes from, we have a listing of low cost insurance coverage companies in your area. Click to view list.
Which method you use is up to you, but ensure you’re using the exact same coverages and limits for each price quote. If the quotes have different deductibles you can’t possibly determine the best price for your Chevy Colorado.
Chevy Colorado Insurance Rates can be Determined by These Details
Smart consumers have a good feel for the different types of things that help determine the rates you pay for insurance. Understanding what determines base rates allows you to make educated decisions that will entitle you to big savings.
- Never allow your policy to lapse – Driving with no insurance can get your license suspended and your next policy will cost more because you let your coverage lapse. Not only will rates go up, but being ticketed for driving with no insurance will get you a steep fine or even jail time.
- Poor driving leads to higher costs – Your driving citation history impacts your car insurance rates tremendously. Careful drivers have lower premiums than bad drivers. Even one moving violation can boost insurance rates by twenty percent. Drivers who have serious citations such as reckless driving, hit and run or driving under the influence may need to file a SR-22 to the state department of motor vehicles in order to continue driving.
- Save money with special equipment – Owning a car with anti-theft technology or alarm system can help bring down rates. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent your car from being stolen.
- Pleasure use saves money – The more miles you rack up on your Chevy every year the higher your rates will be. Almost all companies charge to insure your cars based on how the vehicle is used. Vehicles that are left in the garage receive lower rates compared to those used for work or business. If your policy improperly rates your Colorado may be wasting your money. Verify your insurance policy is rated on how each vehicle is driven, because improper ratings can cost you money.
Lower Rates by Qualifying for Discounts
Companies do not list every available discount in a way that’s easy to find, so we researched both well-publicized as well as the least known car insurance savings. If you aren’t receiving every discount possible, you’re paying more than you need to.
- Government Employees – Being employed by or retired from a federal job can earn a discount up to 10% for Colorado coverage depending on your company.
- Senior Discount – Mature drivers may be able to get reduced rates for Colorado coverage.
- Multiple Cars – Insuring all your vehicles on one policy can get a discount on all vehicles.
- College Student – Youth drivers who live away from home and don’t have a car can be insured at a reduced rate.
- Homeowners Discount – Owning a house may trigger a car insurance policy discount because maintaining a house requires personal responsibility.
- Club Memberships – Being a member of certain professional organizations is a good way to get lower rates on your policy for Colorado coverage.
- No Accidents – Good drivers with no accidents can save substantially as compared to drivers who are more careless.
- Military Rewards – Being on active duty in the military could mean lower rates.
- Defensive Driving Course – Completing a course in driver safety can save you 5% or more depending on where you live.
- Early Signing – Some insurance companies reward drivers for switching to them before your current policy expires. This can save 10% or more.
It’s important to note that some of the credits will not apply to the entire cost. Most only reduce the cost of specific coverages such as comprehensive or collision. So even though it sounds like you can get free auto insurance, companies wouldn’t make money that way.
Companies who might offer these discounts are:
It’s a good idea to ask each company which discounts they offer. All car insurance discounts may not be available everywhere.
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Car Insurance is Unique, Just Like You
When it comes to buying adequate coverage, there really is no one size fits all plan. Everyone’s situation is a little different so this has to be addressed. For instance, these questions might point out whether or not you might need professional guidance.
- Do I need PIP coverage since I have good health insurance?
- Does medical payments coverage apply to all occupants?
- What is an SR-22 filing?
- What is the minimum liability in my state?
- Exactly who is provided coverage by my policy?
- Do I need medical payments coverage since I have good health insurance?
- What if I total my 2006 Chevy Colorado and owe more than it’s worth?
- Is business property covered if stolen from my car?
If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.
Car insurance coverages 101
Learning about specific coverages of car insurance can help you determine the right coverages for your vehicles. Policy terminology can be difficult to understand and coverage can change by endorsement. Listed below are the usual coverages offered by car insurance companies.
Liability insurance can cover damages or injuries you inflict on a person or their property. This coverage protects you from legal claims by others. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 50/100/50 which means $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.
Liability coverage protects against things such as funeral expenses, medical expenses and medical services. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as much as you can afford.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Chevy Colorado.
Because many people carry very low liability coverage limits, their limits can quickly be used up. So UM/UIM coverage is very important.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses like rehabilitation expenses, chiropractic care, nursing services and EMT expenses. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants as well as being hit by a car walking across the street. PIP coverage is not universally available but can be used in place of medical payments coverage
Comprehensive auto coverage
This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like vandalism, fire damage, hitting a deer and hail damage. The highest amount your car insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Auto collision coverage
This pays for damage to your Colorado from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims such as hitting a parking meter, colliding with a tree, rolling your car and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to raise the deductible in order to get cheaper collision rates.
Save Your Hard Earned Cash
In this article, we presented a lot of techniques to get a better price on 2006 Chevy Colorado insurance. The key thing to remember is the more rate comparisons you have, the higher your chance of finding lower rates. You may even discover the lowest rates come from an unexpected company. These companies can often insure niche markets at a lower cost as compared to the big name companies such as Progressive or GEICO.
As you shop your coverage around, don’t be tempted to sacrifice coverage to reduce premiums. In too many instances, consumers will sacrifice liability limits or collision coverage and found out when filing a claim they didn’t have enough coverage. Your aim should be to purchase plenty of coverage for the lowest price, not the least amount of coverage.
Low-cost insurance is attainable both online in addition to many insurance agents, so compare prices from both in order to have the best price selection to choose from. Some insurance providers do not provide online quoting and most of the time these small, regional companies sell through independent agents.
- Eight Auto Insurance Myths (Insurance Information Institute)
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