The preferred way to save money on Chevy Colorado insurance in Dallas is to start comparing rates regularly from providers in Texas. This can be done by completing these steps.
Step 1: Read and learn about how companies price auto insurance and the steps you can take to prevent rate increases. Many rating factors that increase rates like traffic citations, accidents, and a low credit score can be amended by improving your driving habits or financial responsibility.
Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can quote prices from multiple companies. View a list of agents
Step 3: Compare the new rate quotes to your current policy premium and see if there is a cheaper rate in Dallas. If you can save money, make sure there is no coverage gap between policies.
Step 4: Provide proper notification to your current company of your decision to cancel your existing policy. Submit any necessary down payment along with the completed application for the new coverage. As soon as you receive it, place the new certificate of insurance in your vehicle.
A valuable tip to remember is to make sure you’re comparing the same physical damage deductibles and liability limits on each quote and and to get rate quotes from as many different insurance providers as possible. This helps ensure a level playing field and the best price selection.
A recent insurance study revealed that the vast majority of consumers in Texas have been with the same company for at least the last four years, and nearly the majority have never compared rates from other carriers. U.S. drivers can save about $860 each year by just comparing rate quotes, but most just don’t grasp the benefits if they switched to a more affordable policy.
The goal of this article is to teach you a little about the best way to buy inexpensive car insurance and some money-saving tips. If you already have coverage, you will most likely be able to lower your rates using the following tips. Consumers just need to understand the most efficient way to get comparison quotes from multiple carriers.
Why Smart Buyers Pay Less for Chevy Colorado Insurance
When buying insurance it’s important to understand some of the factors that go into determining the price you pay for insurance. If you know what influences your rates, this enables you to make decisions that may reward you with cheaper rates. Lots of things are used in the calculation when quoting car insurance. Most are fairly basic such as your driving history, although others are not as apparent such as whether you are married or your financial responsibility.
- Miles impacts prices – The more miles you rack up on your Chevy in a year the higher your rate. A lot of insurance companies calculate rates based upon how you use the vehicle. Autos that are left in the garage receive better premium rates compared to those used for work or business. Ask your agent if your insurance policy is rated on how each vehicle is driven, because it can save money. Having the wrong rating on your Colorado may be wasting your money.
Rates increase with driving citations – Your driving citation history impacts premiums far more than you think. Good drivers get better prices as compared to those with violations. Even a single driving citation can increase rates forty percent or more. Drivers who get license-revoking citations like DUI or reckless driving are required to file a SR-22 to the state department of motor vehicles in order to keep their license.
The chart below demonstrates how speeding tickets and accident claims can drive up Chevy Colorado insurance prices for each age group. The rates are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
- Your address can push rates up or down – Living in a rural area has definite advantages when buying insurance. Fewer drivers on the road means less chance of accidents in addition to fewer liability claims. City drivers have to deal with much more traffic and longer commute times. More time on the road means more chances of being involved in an auto accident.
Teenagers are high risk – More mature drivers have been proven to be more responsible, tend to cause fewer accidents, and usually have better credit. Teen drivers tend to be inattentive with other occupants in the car so they pay higher insurance rates.
The following chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Cheaper rates with high physical damage deductibles – Protection for physical damage, also called comprehensive and collision insurance, is used to repair damage to your vehicle. Some examples of covered claims are a broken side mirror, hitting a deer, and having your car stolen. The deductibles define how much you are willing to pay out-of-pocket before a claim is paid by your company. The larger the amount the insured has to pay upfront, the less your insurance will be.
Performance impacts insurance rates – The make and model of the car or truck you need to insure makes a huge difference in how high your rates are. The lowest premiums are generally reserved for economy passenger models, but many other things help determine your insurance rates.
The next chart uses these variables: single male driver age 20, full coverage with $100 deductibles, and no discounts or violations. The chart compares Chevrolet Colorado insurance rates compared to other vehicles that have different performance rating factors.
- Never let your insurance lapse – Allowing your coverage to lapse can be a fast way to increase your insurance rates. And not only will your rates increase, failure to provide proof of insurance could earn you a steep fine or even jail time. You may have to prove you have insurance by filing a SR-22 with the Texas department of motor vehicles.
Chevy Colorado insurance loss statistics – Insurers include the past claim history for a vehicle when setting rates for each model. Vehicles that tend to have higher losses will be charged more to insure.
The table below shows the compiled insurance loss statistics for Chevy Colorado vehicles. For each coverage category, the claim amount for all vehicles compiled together is set at 100. Values under 100 mean the vehicle has better than average losses, while percentages above 100 indicate more frequent claims or a tendency for claims to be larger.
Chevrolet Colorado Insurance Claim Statistics Specific Chevrolet 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 67BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
All the larger auto insurance companies allow you to get coverage price quotes on their websites. Obtaining pricing for Chevy Colorado insurance in Dallas is pretty easy as all you need to do is type in the amount of coverage you want into the quote form. When the form is submitted, their quoting system makes automated requests for credit information and your driving record and returns a price quote determined by many factors. This makes it easy to compare insurance prices and it’s very important to compare as many rates as possible if you want to find the best rate possible.
If you want to get comparison pricing now, compare quotes from the companies shown below. If you have coverage now, it’s recommended you replicate coverages and limits as shown on your current policy. Doing this assures you will get rate comparison quotes using the same coverage and limits.
The companies shown below are our best choices to provide free rate quotes in Dallas, TX. If more than one company is shown, we suggest you compare several of them in order to get a fair rate comparison.
Rates and data analysis
The coverage table below outlines estimates of insurance rates for Chevy Colorado models. Having knowledge of how insurance policy rates are determined is important to be able to make decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$190||$414||$366||$22||$110||$1,102||$92|
|Colorado LT Extended Cab 2WD||$222||$504||$366||$22||$110||$1,224||$102|
|Colorado LT 4WD||$222||$414||$310||$18||$94||$1,058||$88|
|Colorado LT Crew Cab 2WD||$222||$504||$366||$22||$110||$1,224||$102|
|Colorado LT Extended Cab 4WD||$222||$414||$310||$18||$94||$1,058||$88|
|Colorado LT Crew Cab 4WD||$256||$504||$310||$18||$94||$1,182||$99|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Prices do not factor in specific location which can revise coverage prices greatly.
The hardest decision when buying coverage is where to set your physical damage deductibles. The comparisons below determine the cost difference between low and high deductibles. The first data set uses a $100 deductible and the second pricing table uses a $1,000 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$244||$486||$382||$22||$114||$1,273||$106|
|Colorado LT Extended Cab 2WD||$286||$592||$382||$22||$114||$1,421||$118|
|Colorado LT 4WD||$286||$486||$324||$20||$96||$1,237||$103|
|Colorado LT Crew Cab 2WD||$286||$592||$382||$22||$114||$1,421||$118|
|Colorado LT Extended Cab 4WD||$286||$486||$324||$20||$96||$1,237||$103|
|Colorado LT Crew Cab 4WD||$328||$592||$324||$20||$96||$1,385||$115|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$136||$256||$382||$22||$114||$910||$76|
|Colorado LT Extended Cab 2WD||$158||$312||$382||$22||$114||$988||$82|
|Colorado LT 4WD||$158||$256||$324||$20||$96||$854||$71|
|Colorado LT Crew Cab 2WD||$158||$312||$382||$22||$114||$988||$82|
|Colorado LT Extended Cab 4WD||$158||$256||$324||$20||$96||$854||$71|
|Colorado LT Crew Cab 4WD||$182||$312||$324||$20||$96||$934||$78|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Table data does not factor in specific garaging location which can decrease or increase insurance rates noticeably.
Using the data above, we can ascertain that using a $100 deductible costs an average of $34 more each month or $408 a year than quoting the higher $1,000 deductible. Because you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 26 months between claims, you would save money if you decide on a higher deductible. The illustration below shows how you can make this decision for your own policy.
|Average monthly premium for $100 deductibles:||$111|
|Average monthly premium for $1,000 deductibles (subtract):||– $77|
|Monthly savings from raising deductible:||$34|
|Difference between deductibles ($1,000 – $100):||$900|
|Divide difference by monthly savings:||$900 / $34|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||26 months|
An important sidenote is that increasing deductibles to save money results in having to pay to pay more out-of-pocket when you file a claim. That will require enough extra money in order to pay the deductible to have repairs made.
The information below shows how different deductible levels and can impact Chevy Colorado insurance prices for each different age group. The rates are based on a married male driver, comprehensive and collision coverage, and no discounts are factored in.
Rate comparison of males versus females
The diagram below shows the comparison of Chevy Colorado auto insurance costs for male and female drivers. The premiums assume no claims or driving citations, full coverage, $500 deductibles, marital status is single, and no discounts are taken into consideration.
Should you buy full coverage?
The illustration below illustrates the comparison of Chevy Colorado premium costs with full coverage and liability only. The data assumes no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying physical damage coverage
There is no clear-cut rule of when to phase out full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s pretend your Chevy Colorado claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after the deductible is paid. If premium cost is more than $500 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are a few cases where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should maintain full coverage.
Three good reasons to insure your Colorado
Despite the high cost, paying for car insurance serves an important purpose.
- Just about all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Colorado has a loan, it’s most likely the lender will require that you have physical damage coverage to guarantee payment of the loan. If the policy lapses, the bank may buy a policy for your Chevy at an extremely high rate and force you to pay for it.
- Insurance safeguards not only your car but also your assets. Insurance will also pay for medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance will also pay to defend you if you are sued as the result of your driving. If your car is damaged in a storm or accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your Colorado definitely exceed the price paid, particularly if you ever have a claim. On average, a vehicle owner in Dallas is overpaying over $865 each year so you should quote your policy with other companies once a year at a minimum to ensure rates are inline.
Dallas auto insurance discounts
Not many people think insurance is cheap, but there may be some discounts to help offset the cost. Most are applied when you complete an application, but some discounts are required to be specially asked for prior to getting the savings.
- First Accident Forgiveness – This one isn’t a discount, but a few companies such as State Farm, Progressive and GEICO allow you one accident without getting socked with a rate hike as long as you don’t have any claims for a certain period of time.
- Active Service Discounts – Having a family member in the military could qualify you for better prices.
- Senior Discount – Older drivers can get a small discount on rates.
- No Claims – Dallas drivers who stay claim-free pay much less when compared with frequent claim filers.
- Dallas Homeowners Discount – Being a homeowner can save a few bucks because maintaining a house demonstrates responsibility.
- Safety Restraint Discount – Buckling up and requiring all passengers to wear their seat belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Paper-free Discount – A handful of companies give back up to $50 get Dallas auto insurance on the internet.
- Pay Now and Pay Less – If you can afford to pay the entire bill rather than spreading payments over time you could save 5% or more.
- Discounts for New Vehicles – Putting coverage on a new Colorado is cheaper compared to insuring an older model.
- Drivers Ed for Students – Teen drivers should take driver’s ed class if it’s offered in school.
As a footnote on discounts, most discount credits are not given the whole policy. Some only reduce specific coverage prices like medical payments or collision. So even though you would think adding up those discounts means a free policy, you’re out of luck.
The illustration below shows the difference between Chevy Colorado car insurance rates with and without policy discounts. The prices are based on a female driver, no claims or violations, Texas state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, claim-free, safe-driver, and multi-policy discounts applied.
A few companies that may offer quotes with some of the discounts shown above possibly include:
Before buying, ask each company what discounts are available to you. Some of the earlier mentioned discounts may not apply to policyholders in Dallas.
Insurance agencies near you
Certain consumers just want to buy from a licensed agent and doing that can be a smart decision Professional insurance agents will help you protect your assets and help in the event of a claim. One of the benefits of comparing insurance online is the fact that drivers can get better rates and also buy local. Putting coverage with neighborhood insurance agencies is still important in Dallas.
Upon completion of this quick form, your insurance data is instantly submitted to agents in your area who will give you quotes for your insurance coverage. You won’t need to visit any agencies because prices are sent to your email. In the event you want to compare prices from one company in particular, just find their quoting web page and submit a quote form there.
What type of Dallas car insurance agent is right for you?
If you are wanting to purchase insurance from a reputable agency, you need to know there are two types of insurance agents and how they are distinctly different. Insurance agents are classified as either independent or exclusive. Both types can sell insurance policies, but it’s good to learn the differences because it can impact your agent selection.
Independent Insurance Agents
These agents do not sell for just one brand and that enables them to quote your coverage through lots of different companies and potentially find a lower price. If you are not satisfied with one company, they simply switch companies in-house and you don’t have to do anything.
If you need cheaper insurance rates, you should always get quotes from independent agents for maximum quote selection.
Below are independent insurance agencies in Dallas that may be able to give you free insurance rate quotes.
Exclusive Insurance Agencies
These type of agents can only quote rates from one company and some examples include American Family, State Farm, and Allstate. They usually cannot compare other company’s rates so you might not find the best rates. These agents are usually quite knowledgeable on the products they sell which helps them sell insurance even at higher premiums.
The following are Dallas exclusive insurance agencies who can help you get price quotes.
Mike Baker – State Farm Insurance Agent
3400 Carlisle St Ste 470 – Dallas, TX 75204 – (214) 780-0900 – View Map
Choosing a insurance agent should depend on more than just the quoted price. A good agent in Dallas will have answers to these questions.
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Are they involved in claim handling?
- Will the company cover a rental car if your car is getting fixed?
- Is the agency covered by Errors and Omissions coverage?
- How often do they review coverages?
- Do they see any coverage gaps in your plan?
When to get professional advice
When it comes to choosing a policy for your personal vehicles, there really is not a “perfect” insurance plan. Everyone’s situation is unique.
For example, these questions might help in determining whether you will benefit from professional help.
- How do I buy GAP insurance?
- Is there a penalty for late payment?
- Does every company file a SR-22 automatically?
- Can I cancel at any time?
- What is an adequate liability insurance limit?
- What is PIP insurance?
- Do I need an umbrella policy?
- Can my babysitter drive my car?
- If I use my vehicle for business use is it covered?
- Does my insurance cover a custom paint job?
If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form. It only takes a few minutes and may give you better protection.
Don’t give up on cheap rates
Insureds leave their current company for any number of reasons including denial of a claim, high prices, an unsatisfactory settlement offer and delays in responding to claim requests. No matter why you want to switch, finding the right auto insurance provider is less work than it seems.
Low-cost Chevy Colorado insurance in Dallas is attainable online and with local Dallas insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some auto insurance companies may not provide the ability to get quotes online and usually these smaller providers provide coverage only through independent agencies.
When trying to cut insurance costs, you should never reduce needed coverages to save money. There are too many instances where an accident victim reduced comprehensive coverage or liability limits and learned later that their decision to reduce coverage ended up costing them more. Your goal is to get the best coverage possible for the lowest cost.
Additional detailed information can be found in these articles:
- Distracted Driving Statistics (Insurance Information Institute)
- Who Has Affordable Dallas Car Insurance Quotes for Teenage Males? (FAQ)
- Who Has Affordable Car Insurance Rates for Real Estate Agents in Dallas? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a Honda CR-V in Dallas? (FAQ)
- Who Has Affordable Auto Insurance for a Chevrolet Malibu in Dallas? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- Understanding Rental Car Insurance (Insurance Information Institute)
- How to Avoid Staged Accidents (State Farm)