Do you want to save money by buying lower-priced Chevy Colorado insurance in Charlotte? Drivers who just recently started comparison shopping online might discover locating affordable Chevrolet Colorado insurance rates in Charlotte to be a formidable task.
How to save on Chevy Colorado insurance in Charlotte
If your goal is the lowest price, then the best way to get discount car insurance rates is to make a habit of regularly comparing prices from insurers in Charlotte.
- Take a few minutes and learn about car insurance and the things you can change to prevent expensive coverage. Many rating criteria that increase rates like distracted driving and an unacceptable credit history can be controlled by making minor changes in your lifestyle.
- Compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like GEICO or Farmers Insurance, while agents who are independent can provide rate quotes from multiple insurance companies. View prices
- Compare the new rates to the premium of your current policy to see if a cheaper price is available in Charlotte. If you can save money, make sure there is no lapse in coverage.
- Give proper notification to your current agent or company of your decision to cancel the current policy. Submit any necessary down payment along with the completed application to your new insurance company. As soon as you can, keep your new certificate verifying coverage with your registration paperwork.
One important bit of advice is to try to compare the same liability limits and deductibles on every price quote and to quote with as many car insurance companies as possible. Doing this helps ensure an accurate price comparison and a complete selection of prices.
We don’t have to point out that fact that insurance companies don’t want you to look for a cheaper policy. Drivers who compare other prices are likely to buy a new policy because there is a good probability of finding more affordable rates. A recent survey found that people who compared prices regularly saved an average of $3,500 over four years compared to those who never shopped for cheaper rates.
If finding the most affordable Chevy Colorado insurance is the reason you’re reading this, then knowing the best ways to shop for auto insurance can make it easier to shop your coverage around.
You should take the time to get comparison quotes periodically due to the fact that insurance prices change quite often. Despite the fact that you may have had the lowest rates on Chevy Colorado insurance in Charlotte on your last policy a different company probably has better premium rates today. Ignore everything you know about insurance because you’re about to learn one of the easiest ways to find lower rates on insurance.
If you have insurance now, you will surely be able to shop for the lowest rates using these techniques. This article’s intent is to let you in on how car insurance companies work and some tricks to saving. But North Carolina drivers do need to learn how big insurance companies determine what you pay and use it to find better rates.
Smart Buyers Know How to Buy Auto Insurance More Affordably
Smart consumers have a good feel for the factors that aid in calculating your premiums. If you have a feel for what influences your rates, this enables informed choices that can help you get big savings. Lots of things are part of the calculation when quoting car insurance. Some of the criteria are obvious like an MVR report, but other factors are not quite as obvious like your vehicle usage and annual miles driven.
- Incidental coverages you don’t use – Policies have extra bells and whistles that you can buy if you aren’t careful. Insurance for things like coverage for rental cars, accidental death, and additional equipment coverage may be costing you every month. These may sound like a good investment when deciding what coverages you need, but if you don’t need them consider taking them off your policy.
Vehicle risk impacts prices – The performance of the car you drive makes a big difference in your auto insurance rates. Smaller low performance passenger models usually are quite affordable to insure, but the cost you end up paying is determined by many additional factors.
The next chart assumes a single male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It shows Chevrolet Colorado insurance rates compared to other vehicles that have a range of performance risks.
Lower rates come with age – Older drivers are more cautious drivers, statistically cause fewer accidents, and get fewer tickets. Beginning drivers are proven to be easily distracted behind the wheel therefore auto insurance rates are much higher.
The following data assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Occupation stress can make you pay more – Did you know your job can affect your rates? Occupations like military generals, business owners, and stock brokers tend to have the highest average rates attributed to stressful work requirements and long work hours. On the flip side, occupations such as professors, students and retirees have lower than average premiums.
- Pay more if you have a long commute – Choosing to live in areas with lower population can be a good thing when buying auto insurance. Fewer drivers on the road means fewer accidents in addition to lower liability claims. Urban drivers tend to have more traffic problems and longer commute times. Longer commute distances can result in more accidents.
- Vehicle features can affect rates – Selecting a car model with a theft deterrent system can help bring down rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent car theft and help bring rates down.
Tickets mean higher rates – Having a clean driving record can have a huge impact on auto insurance premiums. Drivers who don’t get tickets pay less for auto insurance as compared to those with violations. Just one moving violation can boost insurance rates to the point where it’s not affordable. Drivers who have license-revoking citations like DWI, reckless driving or hit and run convictions may be required to complete a SR-22 with their state motor vehicle department in order to prevent a license revocation.
The illustration below shows how violations and at-fault accidents impact Chevy Colorado car insurance rates for each different age group. The information is based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
Insurance losses for a Chevy Colorado – Insurers include the past claim trends for vehicles when they set coverage costs for each model. Models that the statistics show to have higher loss trends will have higher rates. The table below demonstrates the actual insurance loss data for Chevy Colorado vehicles.
For each policy coverage type, the claim probability for all vehicles, regardless of manufacturer or model, is set at 100. Numbers shown that are under 100 suggest a better than average loss history, while percentages above 100 show a trend for more claims or statistically larger claims.
Insurance Loss Ratings for Chevrolet Colorado Vehicles Vehicle Make and 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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When shopping for Chevy Colorado insurance in Charlotte there are multiple ways to get quotes from different companies. The easiest way to compare rates is to get quotes online.
When comparing insurance rates, know that comparing all the rates in your area gives you a better chance of getting more affordable rates.
The car insurance companies shown below can provide comparison quotes in Charlotte, NC. In order to find cheap auto insurance in NC, we recommend you compare several of them to find the lowest car insurance rates.
Chevy Colorado insurance rate analysis
The coverage table below highlights a range of insurance rates for Chevy Colorado models. Learning as much as possible about how prices are established can help drivers make decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$112||$226||$240||$14||$72||$664||$55|
|Colorado LT Extended Cab 2WD||$130||$276||$240||$14||$72||$732||$61|
|Colorado LT 4WD||$130||$226||$204||$12||$60||$632||$53|
|Colorado LT Crew Cab 2WD||$130||$276||$240||$14||$72||$732||$61|
|Colorado LT Extended Cab 4WD||$130||$226||$204||$12||$60||$632||$53|
|Colorado LT Crew Cab 4WD||$150||$276||$204||$12||$60||$702||$59|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Price estimates do not factor in garaging location in Charlotte which can modify prices significantly.
Higher deductibles save money
A question often asked by Charlotte drivers is what deductibles to buy. The figures shown below can help you understand the rate fluctuation between low and high coverage deductibles. The first price estimate table uses a $250 physical damage deductible and the second price table uses a $500 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$142||$266||$250||$14||$74||$771||$64|
|Colorado LT Extended Cab 2WD||$168||$324||$250||$14||$74||$855||$71|
|Colorado LT 4WD||$168||$266||$212||$12||$64||$747||$62|
|Colorado LT Crew Cab 2WD||$168||$324||$250||$14||$74||$855||$71|
|Colorado LT Extended Cab 4WD||$168||$266||$212||$12||$64||$747||$62|
|Colorado LT Crew Cab 4WD||$192||$324||$212||$12||$64||$829||$69|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$116||$214||$250||$14||$74||$668||$56|
|Colorado LT Extended Cab 2WD||$136||$262||$250||$14||$74||$736||$61|
|Colorado LT 4WD||$136||$214||$212||$12||$64||$638||$53|
|Colorado LT Crew Cab 2WD||$136||$262||$250||$14||$74||$736||$61|
|Colorado LT Extended Cab 4WD||$136||$214||$212||$12||$64||$638||$53|
|Colorado LT Crew Cab 4WD||$156||$262||$212||$12||$64||$706||$59|
|Get Your Own Custom Quote Go|
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Table data does not factor in specific location information which can increase or decrease premium rates noticeably.
We can derive from the above data that using a $250 deductible will cost in the ballpark of $10 more each month or $120 for a full year than choosing the higher $500 deductible. Since the policyholder would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you average at least 25 months between claims, you would probably come out ahead going with the higher deductible.
Full coverage versus liability-only in Charlotte
The example below visualizes the comparison of Chevy Colorado auto insurance rates with and without physical damage coverage. The premiums assume no claims or violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.
Should you pay for full coverage?
There is no set guideline for excluding full coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s say your Chevy Colorado replacement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $7,000 after paying your deductible. If you are paying more than $700 a year for physical damage coverage, then you might want to think about dropping full coverage.
There are a few cases where only buying liability is not a good plan. If you haven’t paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should maintain full coverage.
Three reasons to not skimp on auto insurance
Despite the potentially high cost of Chevy Colorado insurance, buying auto insurance serves a purpose in several ways.
- The majority of states have minimum mandated liability insurance limits which means you are required to carry specific minimum amounts of liability insurance in order to drive the car. In North Carolina 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 vehicle has a lienholder, more than likely the lender will have a requirement that you have comprehensive coverage to guarantee payment of the loan. If you let the policy lapse, the lender may insure your Chevy at a much higher premium rate and require you to fork over for the expensive policy.
- Insurance safeguards both your assets and your vehicle. It will also reimburse you for most medical and hospital costs for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of having insurance are without a doubt worth the cost, especially when you need to use it. But the average driver in North Carolina is overpaying over $810 a year so it’s very important to do a rate comparison at every renewal to ensure rates are competitive.
Save with these premium slashing discounts
Insurance is not inexpensive, but discounts can save money and there are some available that could drop your premiums quite a bit. Certain discounts will be triggered automatically when you get a quote, but once in a while a discount must be requested specifically prior to receiving the credit.
- Savings for New Vehicles – Buying insurance coverage on a new vehicle may earn a small discount because new vehicles have to meet stringent safety requirements.
- Club Memberships – Being a member of qualifying employment or professional organizations could trigger savings on your bill.
- College Student – Children who live away from home at college and won’t have access to an insured vehicle could get you a discount.
- Service Members Pay Less – Being on active duty in the military could trigger a small discount.
- Smart Student Discounts – Performing well in school can earn a discount of 20% or more. The good student discount can last up to age 25.
- Save over 55 – Drivers over the age of 55 may qualify for a small discount on rates.
While discounts sound great, it’s important to understand that most discount credits are not given to all coverage premiums. Most only cut the price of certain insurance coverages like comprehensive or collision. Despite the appearance that you can get free auto insurance, you aren’t that lucky.
The illustration below shows the comparison of Chevy Colorado car insurance rates with and without discounts applied. The prices are based on a female driver, no violations or claims, North Carolina state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, multi-car, marriage, claim-free, and homeowner discounts applied.
A few popular companies and their possible discounts are included below.
- AAA offers discounts including AAA membership discount, education and occupation, pay-in-full, good student, multi-policy, anti-theft, and multi-car.
- Progressive has savings for multi-vehicle, continuous coverage, multi-policy, online quote discount, homeowner, and good student.
- State Farm may include discounts for multiple policy, anti-theft, Steer Clear safe driver discount, good driver, good student, defensive driving training, and safe vehicle.
- Esurance may have discounts that include online shopper, safety device, anti-lock brakes, paid-in-full, and good driver.
- Nationwide offers discounts for multi-policy, good student, business or organization, defensive driving, Farm Bureau membership, anti-theft, and family plan.
When quoting, ask each company or agent what discounts are available to you. Depending on the company, some discounts might not be available to policyholders everywhere. If you would like to choose from a list of companies that offer some of these discounts in North Carolina, click here to view.
Are insurance agencies obsolete?
A lot of people still like to talk to an insurance agent and that is a personal choice. One of the benefits of price shopping on the web is you may find better rates but still work with a licensed agent. Supporting neighborhood insurance agencies is important especially in Charlotte.
To make it easy to find an agent, after completing this quick form, your insurance data is transmitted to local insurance agents in Charlotte that give free quotes for your insurance coverage. There is no reason to contact any agents since price quotes are sent instantly to you. You can find better rates and a licensed agent to work with. If you wish to get a price quote from a particular provider, you can always find their quoting web page and fill out the quote form the provide.
Different types of Charlotte car insurance agents
If you are wanting to purchase car insurance from a local Charlotte insurance agency, it can be helpful to understand the different types of agencies and how they can quote your rates. Agents can be classified as either independent or exclusive depending on the company they work for.
Independent Car Insurance Agents (or Brokers)
These agents often have affiliation with several companies so they can write business with a variety of different insurance companies and get you the best rates possible. If they find a cheaper price, they can switch companies in-house and that require little work on your part.
When comparing rate quotes, you should always get quotes from independent agents to maximize your price options. Many can place coverage with different regional companies that many times have cheaper rates.
The following is a short list of independent insurance agents in Charlotte who may be able to give you cheap rate quotes.
- The Jordan Insurance Agency,LLC
13860 Ballantyne Corporate Pl #120 – Charlotte, NC 28277 – (704) 926-7565 – View Map
- Biggs Insurance Group
13850 Ballantyne Corporate Pl #500 – Charlotte, NC 28277 – (704) 369-5270 – View Map
- Nationwide Insurance – William Laurie Agency
8820 University E Dr Ste B – Charlotte, NC 28213 – (704) 945-2331 – View Map
Exclusive insurance agents normally can only provide a single company’s rates and some examples include Allstate, State Farm and Farm Bureau. These agents are unable to compare other company’s rates so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are trained well in insurance sales and that can be a competitive advantage. Some insured continue to choose to use an exclusive agent partially due to loyalty to the company rather than having the cheapest rates.
Shown below is a list of exclusive agencies in Charlotte that can give you price quote information.
- Denis Wilson – State Farm Insurance Agent
1850 E 3rd St #360 – Charlotte, NC 28204 – (704) 376-4088 – View Map
- Jeff Genant – State Farm Insurance Agent
15105 John J Delaney Dr – Charlotte, NC 28277 – (704) 594-3000 – View Map
- Darrick Embry – State Farm Insurance Agent
8124 S Tryon St, Ste A3 – Charlotte, NC 28273 – (704) 583-8393 – View Map
Finding a good insurance agent is decision based upon more than just a cheap price quote. A good agent in Charlotte will have answers to these questions.
- Will your rates increase after a single accident?
- How often do they review coverages?
- Can you contact them at any time?
- Is there a local claims center in Charlotte?
- Is their price quote a firm figure or are their hidden costs?
How much can you save?
When getting Charlotte auto insurance quotes online, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many cases where an accident victim reduced physical damage coverage and found out when filing a claim that the small savings ended up costing them much more. Your objective should be to purchase plenty of coverage at the lowest possible cost while still protecting your assets.
Some insurance companies don’t offer the ability to get a quote online and usually these regional insurance providers only sell through local independent agents. Low-cost Chevy Colorado insurance in Charlotte is definitely available on the web and also from your neighborhood Charlotte agents, so compare prices from both to have the best selection.
Throughout this article, we presented many ideas to reduce Chevy Colorado insurance auto insurance rates online in Charlotte. The key concept to understand is the more providers you compare, the higher your chance of finding low cost Charlotte auto insurance quotes. Drivers may even discover the lowest auto insurance rates come from a smaller regional carrier.
Steps to buying cheaper Chevy Colorado insurance in Charlotte
The easiest way to get affordable Chevy Colorado insurance is to start doing a yearly price comparison from companies in Charlotte. You can compare rates by following these guidelines.
Step 1: Try to learn about coverages and the measures you can control to prevent high rates. Many policy risk factors that result in higher rates like traffic tickets, fender benders, and a low credit rating can be controlled by improving your driving habits or financial responsibility.
Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from a single company like Progressive or State Farm, while agents who are independent can quote rates from multiple insurance companies.
Step 3: Compare the new rate quotes to your existing coverage to see if a cheaper price is available. If you find a lower rate quote, make sure there is no coverage gap between policies.
Step 4: Notify your company or agent of your intention to cancel the current policy. Submit any necessary down payment along with the completed application to your new agent or company. Once the application is submitted, safely store the certificate verifying proof of insurance in your vehicle’s glove compartment or console.
A key point to remember is that you use the same physical damage deductibles and liability limits on each price quote and and to look at as many auto insurance providers as possible. This enables a fair rate comparison and a complete price analysis.
Additional learning opportunities
- Determining Auto Insurance Rates (GEICO)
- Who Has the Cheapest Auto Insurance Rates for Drivers Over Age 70 in Charlotte? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Low Credit Scores in Charlotte? (FAQ)
- Who Has Cheap Auto Insurance for Immigrants in Charlotte? (FAQ)
- Who Has Affordable Car Insurance After a Speeding Ticket in Charlotte? (FAQ)
- Who Has the Cheapest Car Insurance for High Mileage Drivers in Charlotte? (FAQ)
- How Much are Charlotte Car Insurance Quotes for Government Employees? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Veterans in Charlotte? (FAQ)
- Auto Crash Statistics (Insurance Information Institute)
- Vehicle Insurance in the U.S. (Wikipedia)