Would you like to stop overpaying and find lower-priced car insurance rates in Tampa, FL? Tampa consumers have options when looking for the best price on Chevy Colorado insurance. You can either spend your time driving around getting price quotes or leverage the internet to find the lowest rates.
There is a right way and a wrong way to compare car insurance rates so you’re going to learn the absolute fastest way to quote coverages for your Chevy and get the lowest possible price.
It’s shocking but the vast majority of consumers kept their coverage with the same car insurance company for four years or more, and 38% of drivers have never compared rates to find affordable insurance. American consumers could save almost $860 every year just by shopping around, but most tend to underestimate how much money they would save if they switch to a new company.
It’s a great practice to quote other rates quite often since insurance prices fluctuate regularly. Even if you think you had the lowest price on Chevy Colorado insurance in Tampa on your last policy you will most likely find a better rate today. Ignore everything you know about car insurance because you’re about to learn one of the best ways to eliminate unnecessary coverages and save money on Chevy Colorado insurance in Tampa.
The companies shown below provide comparison quotes in Florida. If you want the best cheap auto insurance in Florida, it’s highly recommended you visit several of them in order to get a fair rate comparison.
Chevy Colorado coverage analysis
The premium table shown below covers a range of insurance costs for Chevy Colorado models. Being aware of how rates are determined can assist in making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Colorado LT 2WD | $206 | $442 | $392 | $24 | $118 | $1,182 | $99 |
| Colorado LT Extended Cab 2WD | $240 | $538 | $392 | $24 | $118 | $1,312 | $109 |
| Colorado LT 4WD | $240 | $442 | $334 | $20 | $100 | $1,136 | $95 |
| Colorado LT Crew Cab 2WD | $240 | $538 | $392 | $24 | $118 | $1,312 | $109 |
| Colorado LT Extended Cab 4WD | $240 | $442 | $334 | $20 | $100 | $1,136 | $95 |
| Colorado LT Crew Cab 4WD | $276 | $538 | $334 | $20 | $100 | $1,268 | $106 |
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Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Premium amounts do not factor in specific garaging location which can decrease or increase coverage rates greatly.
The illustration below illustrates how your deductible choice and can raise or lower Chevy Colorado insurance rates for different age categories. The information is based on a single female driver, full physical damage coverage, and no discounts are applied.
Comparison of full coverage and liability-only policies
The illustration below illustrates the difference between Chevy Colorado insurance premiums with full coverage compared to only the Florida minimum liability coverage. The data assumes no violations or accidents, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
When to buy liability coverage only
There is no written rule that is best for determining when to drop physical damage coverage, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Chevy Colorado settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after you pay the deductible. If it’s costing in excess of $300 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are a few situations where buying only liability insurance is not recommended. If you still owe money on your vehicle, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Car insurance does more than just protect your car
Despite the potentially high cost of Chevy Colorado insurance, insurance is mandatory in Florida but it also protects more than you think.
- Most states have mandatory liability insurance requirements which means state laws require specific limits of liability insurance if you don’t want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Colorado, it’s most likely the lender will force you to have physical damage coverage to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the bank may insure your Chevy at an extremely high rate and force you to reimburse them for it.
- Insurance protects both your assets and your car. Insurance will pay for all forms of medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of insuring your Colorado are without a doubt worth the cost, especially for larger claims. But the average driver in Florida is overpaying more than $865 each year so compare rate quotes at every policy renewal to make sure the price is not too high.
How Car Insurance Companies Determine Chevy Colorado Insurance Costs
Many different elements are part of the equation when quoting car insurance. Some are obvious like a motor vehicle report, but others are less obvious such as whether you are married or your commute time. When buying car insurance it’s important to understand some of the elements that play a part in calculating your car insurance rates. If you have a feel for what controls the rates you pay, this enables informed choices that can help you get cheaper rates.
The itemized list below are some of the factors companies use to determine your rate level.
- Cheaper rates after marriage – Having a spouse may save some money on your car insurance bill. Having a spouse means you’re less irresponsible and it’s proven that married drivers tend to have fewer serious accidents.
- Your liability insurance limits – A critical coverage on your policy, liability insurance is the protection in the event that you are responsible for causing damage or personal injury in an accident. It provides legal defense to attempt to prove you were not liable. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
- Additional coverages that may be costing you – There are a lot of additional extra coverages that you can get tricked into buying on your Colorado policy. Coverages for vanishing deductibles, towing, and extra life insurance coverage may be wasting your money. They may sound like good ideas initially, but if you’ve never needed them in the past think about removing them and cutting costs.
- GPS tracking and theft deterrents reduce car insurance rates – Choosing a vehicle with a theft deterrent system can save you a little every year. Advanced theft deterrents like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder car theft.
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Cautious drivers pay lower prices – Your driving record has a big impact on rates. Good drivers pay lower auto insurance prices as compared to careless drivers. Just one ticket can boost insurance rates to the point where it’s not affordable. Drivers with multiple citations such as DUI, reckless driving or excessive speeding may be required to maintain a SR-22 with their state’s licensing department in order to continue driving.
The chart below highlights how traffic violations and at-fault claims raise Chevy Colorado annual premium costs for different age groups of insureds. The prices are based on a married male driver, full coverage, $500 deductibles, and no discounts are applied to the premium.
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Chevy Colorado historical loss data – Companies use statistical claims data when they set coverage costs for each model. Models that are shown to have higher number or severity of losses will have higher rates for specific coverages. The information below illustrates the historical loss data for Chevy Colorado vehicles.
For each type of coverage, the statistical loss for all vehicles averaged together is set at 100. Numbers shown that are under 100 are indicative of better than average losses, while numbers that are greater than 100 point to more frequent losses or tendency to have higher losses.
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 67 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Tampa auto insurance companies
Choosing a highly-rated car insurance company can be challenging considering how many companies sell coverage in Tampa. The company ratings listed below can help you pick which providers you want to consider when shopping your coverage around.
Top 10 Tampa Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Cheap insurance premiums are out there
As you shop your coverage around, it’s very important that you do not skimp on critical coverages to save a buck or two. There are a lot of situations where drivers have reduced full coverage only to regret that the small savings ended up costing them much more. Your strategy should be to buy enough coverage for the lowest price while not skimping on critical coverages.
We just presented a lot of information how to shop for Chevy Colorado insurance online. The most important thing to understand is the more providers you compare, the better chance you’ll have of finding the cheapest Chevrolet Colorado rate quotes. Consumers could even find that the lowest rates come from an unexpected company.
Cost effective Chevy Colorado insurance can be bought both online and also from your neighborhood Tampa agents, and you should compare rates from both in order to have the best price selection to choose from. There are still a few companies who may not provide online rate quotes and these smaller providers only sell through local independent agencies.
Steps to finding low-cost rates for Chevy Colorado insurance in Tampa
If your goal is the lowest price, then the best way to get cheaper auto insurance rates in Tampa is to compare prices once a year from insurers in Florida. You can shop around by following these guidelines.
First, try to learn a little about auto insurance and the modifications you can make to prevent expensive coverage. Many things that increase rates like accidents, traffic violations, and an unacceptable credit rating can be eliminated by improving your driving habits or financial responsibility.
Second, compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO or Allstate, while independent agencies can provide price quotes from multiple sources. Click to view companies
Third, compare the price quotes to your current policy and determine if cheaper Colorado coverage is available. If you find a better price and decide to switch, make sure there is no lapse in coverage.
Fourth, tell your current company to cancel the current policy and submit payment along with a signed and completed policy application for the new policy. As soon as you have the new policy, put the new certificate verifying proof of insurance with your vehicle’s registration.
A good tip to remember is that you use the same deductibles and limits on every quote request and to quote with as many auto insurance providers as possible. This helps ensure the most accurate price comparison and a better comparison of the market.
More detailed insurance information is located at these sites:
- Help Your Teen Be a Better Driver (State Farm)
- What Car Insurance is Cheapest for Single Moms in Tampa? (FAQ)
- Who Has Affordable Auto Insurance for a Learners Permit in Tampa? (FAQ)
- Who Has Affordable Auto Insurance for High School Students in Tampa? (FAQ)
- How Much is Car Insurance for Felons in Tampa? (FAQ)
- How Much are Tampa Car Insurance Rates for a Nissan Sentra? (FAQ)
- Where can I buy Insurance? (Insurance Information Institute)
- State Laws for Cellphones and Texting (iihs.org)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Auto Insurance Facts and Statistics (Insurance Information Institute)