Cheap Chevy Colorado Insurance in Baltimore

Chevy Colorado insurance image courtesy of QuoteInspector.com

We don't have to tell you that auto insurance companies don't want customers comparing rates. Consumers who compare other prices will probably buy a different policy because there is a good chance of finding a more affordable policy. A study showed that people who shopped around every year saved about $865 a year compared to those who never compared rates.

If finding the lowest rates on auto insurance is your goal, then having some insight into how to shop for insurance coverage can save time and money.

Really, the only way to find lower priced Chevy Colorado insurance is to compare quotes annually from companies in Baltimore. Price quotes can be compared by following these guidelines.

Step 1: Read and learn about coverages and the factors you can control to keep rates in check. Many rating factors that cause high rates such as at-fault accidents, careless driving, and a not-so-good credit rating can be improved by improving your driving habits or financial responsibility.

Step 2: Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO or Allstate, while independent agents can quote prices from many different companies.

Step 3: Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate and make a switch, make sure coverage is continuous and does not lapse.

Step 4: Provide written notification to your current company of your decision to cancel your current car insurance policy. Submit the signed application along with the required initial payment for your new policy. Make sure you place the new proof of insurance certificate somewhere easily accessible.

A tip to remember is that you'll want to compare identical coverages on every quote and and to get price quotes from as many auto insurance providers as possible. Doing this guarantees a fair price comparison and the best price selection.

Baltimore insurance discounts for a Chevy Colorado

Car insurance companies do not advertise all discounts in an easy-to-find place, so we break down both well-publicized as well as some of the hidden discounts that may be available.

• Passive Restraints and Air Bags - Factory air bags may get savings as much as 30%.
• Policy Bundle Discount - When you have multiple policies with the same company you could earn a discount of up to 20% off your total Colorado insurance premium.
• Seat Belts Save - Drivers who require all occupants to buckle their seat belts can save 10% or more on medical payment and PIP coverage.
• Distant College Student Discount - Any of your kids who are enrolled in higher education away from home and do not have a car could get you a discount.
• Membership in Organizations - Being a member of qualifying clubs or civic groups could earn you a nice discount on your next car insurance statement.
• Renewal Discounts - A few insurance companies give discounts for switching policies early. It can save you around 10%.
• Lower Rates for Military - Having a deployed family member could qualify you for better rates.
• Accident-Free Discounts - Drivers who don't have accidents have much lower rates as opposed to drivers who are more careless.
• Multi-line Discount - Larger car insurance companies have better premium rates if you take out some life insurance too.

A little disclaimer on discounts, some credits don't apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think all those discounts means the company will pay you, you're out of luck.

The chart below illustrates the comparison of Chevy Colorado insurance rates with and without discounts applied to the policy rates. The premiums are based on a male driver, no tickets, no at-fault accidents, Maryland state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-policy, claim-free, multi-car, and safe-driver discounts applied.

A list of companies and some of the premium reductions they offer are:

• GEICO may have discounts that include seat belt use, daytime running lights, anti-theft, air bags, and anti-lock brakes.
• SAFECO offers discounts including anti-theft, accident prevention training, safe driver, drive less, and homeowner.
• State Farm includes discounts for good driver, Steer Clear safe driver discount, student away at school, good student, multiple autos, accident-free, and defensive driving training.
• MetLife offers premium reductions for multi-policy, claim-free, good driver, defensive driver, good student, accident-free
• 21st Century has discounts for teen driver, early bird, defensive driver, theft prevention, and 55 and older.
• Progressive discounts include multi-policy, good student, continuous coverage, multi-vehicle, homeowner, and online quote discount.

Check with all the companies which discounts can lower your rates. Some credits might not apply in every state.

When comparing car insurance rates, know that making a lot of price comparisons helps you find more affordable insurance. Some regional insurers cannot provide online rate quotes, so it's important to also get price quotes on coverage from those companies, too.

The companies shown below provide price comparisons in Maryland. To locate the best car insurance in Baltimore, it's a good idea that you click on several of them in order to find the cheapest rates.

Chevy Colorado insurance rates and statistics

The price information shown below highlights different insurance coverage prices for Chevy Colorado models. Being able to understand how insurance policy rates are established can be of help when making smart choices when buying a car insurance policy.

Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Prices do not factor in garaging location in Baltimore which can change rates noticeably.

An analysis of deductible level

One of the most common insurance questions is which deductible level should you buy. The data tables below can help illustrate how much more rates are when you buy lower versus higher insurance deductibles. The first pricing table uses a $250 physical damage deductible and the second price chart uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Table data does not factor in specific garaging location which can lower or raise insurance rates noticeably.

Based on the above data, using a $250 deductible costs an average of $14 more each month or $168 annually averaged for all Colorado models than buying the higher $500 deductible. Since you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at least 18 months between claims, you would more than likely save some money if you elect the higher deductible.

Full coverage versus liability only rates

The information below shows the difference between Chevy Colorado auto insurance costs with full physical damage coverage and with liability coverage only. The information is based on no violations or accidents, $250 deductibles, single status, and no discounts are taken into consideration.

When to drop full coverage

There is no exact formula for eliminating comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

For example, let's pretend your Chevy Colorado replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $7,000 after you pay the deductible. If it's costing in excess of $700 annually to have full coverage, then you might want to consider buying only liability coverage.

There are some scenarios where removing full coverage is not advised. If you haven't satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

The Chevy Colorado Insurance Premium Equation

Many factors are part of the equation when quoting car insurance. Some are pretty understandable like an MVR report, although others are not quite as obvious like where you live or how financially stable you are. The best way to find cheaper auto insurance is to take a look at some of the elements that are used to determine your policy premiums. When you know what positively or negatively determines base rates, this enables you to make decisions that will entitle you to big savings.

• Vehicles with better crash test results cost less to insure - Safe vehicles tend to have lower insurance rates. Safe vehicles reduce injuries and lower injury rates means less claims paid which can mean better rates for you.
• A policy lapse is a bad thing - Allowing your coverage to lapse can be a sure-fire way to increase your rates. And not only will insurance be more expensive, being ticketed for driving with no insurance can result in fines and jail time.
• Physical damage deductibles - Your deductibles are how much you are required to spend before a claim is paid by your company. Physical damage insurance, aka comp and collision, covers damage that occurs to your car. Examples of covered claims are colliding with a stationary object, collision with a deer, and damage from wind. The more you pay before a claim is paid (deductible), the better rate you will receive.
• Remove unneeded extra policy coverages - There are many additional coverages you can purchase on your Colorado policy. Insurance for rental car reimbursement, accidental death, and extra equipment coverage could be just wasting money. They may seem good when buying your policy, but if they're wasting money eliminate the coverages to reduce your premium.

• Tickets are costly - Being a careful driver has a lot to do with how much you pay for insurance. Drivers who don't get tickets receive lower rates than bad drivers. Just one speeding ticket may increase your cost by as much as thirty percent. Drivers with severe violations like reckless driving, hit and run or driving under the influence may be required to maintain a SR-22 with their state DMV in order to legally drive.

  The example below highlights how traffic violations and accident claims drive up Chevy Colorado premium costs for different age categories. The price estimates are based on a single male driver, full coverage, $250 deductibles, and no discounts are applied to the premium.

• Insurance costs are higher for high performance vehicles - The performance level of the vehicle you drive makes a significant difference in determining your rates. Low performance passenger cars receive the most favorable rates, but the cost you end up paying is determined by many additional factors.

  The chart below assumes a married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. The data compares Chevrolet Colorado rates compared to other models that have different performance rating factors.
• An active claims history can cost more - Companies in Maryland provide cheaper rates to drivers that do not abuse their auto insurance. If you are the type of insured that files lots of claims you can look forward to higher rates. Auto insurance is intended for major claims that would cause financial hardship.

• Chevy Colorado statistical loss data - Insurance companies analyze claim trends for every vehicle to calculate a rate that will offset losses. Models that statistically have increased claim numbers or amounts will have higher premium rates. The table shown below demonstrates the loss history for Chevy Colorado vehicles.

  For each policy coverage type, the claim probability for all vehicles, regardless of make or model, is considered to be 100. Values that are 100 or less imply a favorable loss record, while values over 100 indicate a higher chance of having a claim or statistically larger losses.

  Chevrolet Colorado Insurance Loss 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	67

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

How do I know if I need professional advice?

When buying coverage online or from an agent for your personal vehicles, there is no "best" method to buy coverage. Everyone's situation is unique.

These are some specific questions may help highlight whether you will benefit from professional help.

• Is my custom paint covered by insurance?
• How much will a speeding ticket raise my rates?
• Am I covered if my car is in a flood?
• Am I covered when driving a rental car?
• Do I have any recourse if my insurance company denies a claim?
• Does my Chevy Colorado qualify for pleasure use?
• Am I covered when using my vehicle for business?
• Can I afford low physical damage deductibles?
• Do all my vehicles need collision coverage?

If you don't know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed agent. To find an agent in your area, complete this form.

What if I want to buy from local Baltimore insurance agencies?

Certain consumers still prefer to sit down and talk to an agent. One of the best bonuses of comparing insurance online is you can get better rates and still have a local agent. Putting coverage with local agents is definitely important in Baltimore.

To help locate an agent, after submitting this simple form, the coverage information is transmitted to insurance agents in Baltimore who will give competitive quotes for your coverage. You won't even need to even leave your home as quotes are delivered immediately to your email address. Get lower rates AND an agent nearby. If you need to compare rates from a particular provider, you just need to go to their quote page and fill out the quote form the provide.

Below is a list of auto insurance companies in Baltimore that may be willing to give price quotes for Chevy Colorado insurance in Baltimore.

More insurance agents

Finding the right company should include more criteria than just the quoted price. You should also get answers to these questions.

• Is there any savings for paying the full premium?
• If your car is in the repair shop, do you have coverage for a rental car?
• Are they full-time agents?
• Where are claims handled?
• How long have they been in business?
• Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
• If they are an independent agency in Baltimore, which companies do they recommend?
• Can they help ensure a fair claim settlement?

Car insurance is not optional in Maryland

Despite the high insurance cost for a Chevy Colorado in Baltimore, buying car insurance serves an important purpose.

• The majority of states have mandatory insurance requirements which means state laws require a specific minimum amount of liability if you don't want to risk a ticket. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
• If you have a lien on your Chevy, almost all lenders will stipulate that you have full coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Chevy for a much higher rate and require you to fork over for it.
• Insurance protects your vehicle and your assets. Insurance will pay for medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance will also pay for a defense attorney if someone files suit against you as the result of an accident. If you have damage to your Chevy as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of buying enough insurance are without a doubt worth the cost, particularly when you have a large claim. As of last year, the average driver in Maryland is overpaying more than $700 annually so you should quote rates every year to save money.

Find cheap auto insurance rates by comparing often

When getting Baltimore car insurance quotes online, it's a bad idea to skimp on coverage in order to save money. In many cases, someone sacrificed uninsured motorist or liability limits only to regret at claim time that the small savings ended up costing them much more. Your goal is to find the BEST coverage at the best price, not the least amount of coverage.

Lower-priced Chevy Colorado insurance in Baltimore is attainable online and from local insurance agents, so get free Baltimore car insurance quotes from both of them to have the best rate selection. Some companies don't offer the ability to get a quote online and these smaller companies provide coverage only through independent agents.

You just learned some good ideas how to get a better price on Chevy Colorado insurance in Baltimore. The key thing to remember is the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the best premium rates are with an unexpected company.

Much more information about auto insurance in Maryland is available below:

• Choosing a Car for Your Teen (State Farm)
• What Auto Insurance is Cheapest for a Chevrolet Equinox in Baltimore? (FAQ)
• What Car Insurance is Cheapest for Safe Drivers in Baltimore? (FAQ)
• What Car Insurance is Cheapest for a 20 Year Old Male in Baltimore? (FAQ)
• Who Has Affordable Baltimore Auto Insurance for a Nissan Rogue? (FAQ)
• Who Has the Cheapest Auto Insurance for High Mileage Drivers in Baltimore? (FAQ)
• Side Impact Crash Tests (iihs.org)
• When is the Right Time to Switch Car Insurance Companies? (Allstate)
• Smart Auto Insurance Tips (Insurance Information Institute)