2021 Chevrolet Colorado Car Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Apr 25, 2024

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Expensive auto insurance can diminish your checking account and make it hard to pay other bills. Numerous auto insurance companies battle to insure your vehicles, so it’s not easy to compare every provider to discover the definitive cheapest price

Informed drivers know how to find car insurance more affordably

One of the most helpful ways to save on car insurance is to to have a grasp of some of the factors that go into determining your policy premiums. When consumers understand what controls the rates you pay, this enables informed choices that may reward you with better car insurance rates.

Listed below are some of the major factors used by your company to calculate your prices.

  • Keep insurance claims to a minimum – If you’re an insured who likes to file claims you can definitely plan on increased rates or even have your policy non-renewed. Companies provide most affordable rates to policyholders that do not abuse their auto insurance. Auto insurance is intended to be relied upon for the large, substantial claims.
  • Higher coverage deductibles save money – Your deductibles are the amount of money the insured will be required to pay in the event of a claim. Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some examples of claims that would be covered would be a windshield broken by a bird, animal collisions, or theft of your vehicle. The higher the amount you are required to pay out-of-pocket, the lower your rates will be on Colorado coverage.
  • Extra coverages are wasting money – There are many extra bells and whistles that you can buy when buying car insurance. Things like rental car coverage, high-cost glass coverage, and extra life insurance coverage are some examples. They may seem good initially, but your money might be better spent on other coverage so remove them from your policy.
  • Gender and car insurance rates – Over the last 50 years, statistics have shown that women are safer drivers than men. This data doesn’t prove that women are better drivers. Men and women are responsible for auto accidents in similar numbers, but the male of the species cause more damage and cost insurance companies more money. Men also statistically get higher numbers of serious violations such as DWI and reckless driving.
  • Single vs. married – Walking down the aisle helps lower the price when shopping for car insurance. It demonstrates that you tend to be more mature than a single person and insurance companies like that married couples file fewer claims.
  • Where you reside is a factor – Residing in areas with lower population can be a good thing when insuring your vehicles. Fewer drivers corresponds to lower accident rates in addition to lower liability claims City drivers have more aggressive driving styles and more time behind the wheel. More time behind the wheel means a statistically higher chance of an accident.
  • Deter car thieves – Purchasing a vehicle with an alarm system can get you a discount on your car insurance. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder auto theft.
  • Premiums drop with age – Inexperienced drivers are statistically proven to be more careless behind the wheel so they pay higher car insurance rates. More mature drivers are shown to be more cautious, cause fewer claims and accidents and are safer drivers.

Discounts can really help lower premiums

Companies that sell car insurance do not list all discounts in a way that’s easy to find, so the below list has a few of the more well known and also the lesser-known discounts that you can inquire about if you buy insurance coverage online. If you are not receiving all the discounts you qualify for, you are just wasting money.

  • Safe Driver Discount – Drivers who avoid accidents can get discounts for up to 45% lower rates on Colorado coverage as compared to drivers with claims.
  • Driver Education Discount – Teen drivers should take driver’s ed class in school.
  • Safety Restraint Discount – Using a seat belt and requiring all passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Accident Free – Insureds who avoid accidents and claims have much lower rates when compared with frequent claim filers.
  • Low Miles Discount – Low annual miles may enable drivers to earn lower prices on the low mileage vehicles.

Drivers should understand that many deductions do not apply to the entire policy premium. Some only apply to specific coverage prices like comprehensive or collision. So when it seems like all the discounts add up to a free policy, company stockholders wouldn’t be very happy.

A list of car insurance companies and some of their more popular discounts include:

  • GEICO discounts include air bags, emergency military deployment, multi-policy, military active duty, seat belt use, membership and employees, and good student.
  • Travelers policyholders can earn discounts including IntelliDrive, multi-policy, new car, student away at school, save driver, continuous insurance, and good student.
  • Farm Bureau may offer discounts for multi-policy, good student, youthful driver, safe driver, renewal discount, and driver training.
  • Liberty Mutual offers premium reductions for preferred payment discount, new move discount, newly married, exclusive group savings, newly retired, new vehicle discount, and multi-policy.
  • American Family may have discounts that include accident-free, good driver, multi-vehicle, air bags, early bird, TimeAway discount, and good student.
  • Progressive offers discounts including continuous coverage, online signing, online quote discount, homeowner, and multi-policy.

When quoting, ask every prospective company which credits you are entitled to. Some discounts might not be available to policyholders everywhere. If you would like to choose from a list of companies with significant discounts, enter your zip code here.

But they said I’d save $491 a year!

Consumers can’t escape the ads that claim the best car insurance rates by State Farm, GEICO and Progressive. All the companies make the point that drivers can save some big amount after switching to their company.

Is it even possible that every company can charge lower premium rates? It’s all in the words they use.

Auto insurance companies have an ideal profile for the type of customer they prefer to insure. One example of a profitable customer might be over the age of 40, owns a home, and has great credit. Any new insured who matches those parameters may get the lowest premium rates and have a good chance to save a lot of money.

People who do not meet the requirements will see higher prices and the customer buying from someone else. Company advertisements say “drivers that switch” not “everybody who quotes” save that much money. That’s why companies can truthfully lure you into getting a quote. This really emphasizes why you really should get insurance coverage quotes from several different companies. Because you cannot predict which company will provide the lowest car insurance rates.

Will just any policy work for me?

When it comes to choosing proper insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Everyone’s situation is unique so your insurance should reflect that These are some specific questions can aid in determining whether or not you will benefit from professional help.

  • Am I covered when driving a rental car?
  • Is my custom paint covered by insurance?
  • How can I find cheaper teen driver insurance?
  • Am I missing any policy discounts?
  • Can I get a multi-policy discount?
  • Does my policy cover me when driving someone else’s vehicle?
  • Should I buy full coverage?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Should I rate my 2021 Chevy Colorado as pleasure use or commute?

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete your zip code. It’s fast, doesn’t cost anything and can help protect your family.

Car insurance coverages explained

Learning about specific coverages of a car insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Car insurance terms can be difficult to understand and reading a policy is terribly boring. Shown next are the usual coverages found on the average car insurance policy.

Liability coverage

Liability coverage can cover damage or injury you incur to other’s property or people. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 50/100/50 which means a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers things like bail bonds, funeral expenses and medical expenses. How much coverage you buy is your choice, but consider buying as much as you can afford.

UM/UIM Coverage

This gives you protection from other drivers when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is a good idea.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage pay for bills such as doctor visits, ambulance fees, X-ray expenses, surgery and hospital visits. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like fire damage, damage from getting keyed, theft and damage from a tornado or hurricane. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Collision coverage protection

This coverage pays for damage to your Colorado resulting from a collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as hitting a mailbox, colliding with a tree and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible to bring the cost down.

Shop smart and save

You just read a lot of ways to save on 2021 Chevy Colorado insurance. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the lowest priced insurance comes from a smaller regional carrier. Smaller companies may cover specific market segments cheaper as compared to the big name companies such as State Farm or Progressive.

When trying to cut insurance costs, never buy poor coverage just to save money. Too many times, consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim that it was a big mistake. The proper strategy is to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.

Some insurance companies don’t offer rate quotes online and usually these small insurance companies only sell coverage through local independent agencies. Low-cost 2021 Chevy Colorado insurance can be sourced on the web as well as from insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money.

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