7 Ways to Save on Car Insurance in Fort Collins | Weston Auto

7 Ways to Save Money on Car Insurance in Fort Collins

With the cost of vehicle ownership going up in Fort Collins, many drivers are looking for ways to save money on their car insurance. Luckily, premiums do vary by as much as hundreds of dollars depending on several factors like the insurance company, vehicle type, and coverage options.

Here are some tips on how to reduce your car insurance rates - while still maintaining adequate coverage.

two men inspecting a car wreck

1. Get quotes from multiple companies

Premiums differ from insurer to insurer, so it does pay to shop around for auto insurance. A good rule of thumb is to get three (or more) quotes from different insurance agencies. Make sure that you understand the different coverage options available, as well as their respective prices. Furthermore, understand that the lowest premium isn't necessarily the "least expensive" option.

For example, if you purchase cheap coverage from a disreputable insurer that denies your claim, it could end up costing you a lot more money. Therefore, conduct thorough research before selecting a company and policy.

2. Compare premiums before buying a vehicle

Car insurance rates are based in large part on the vehicle's price, safety record, the likelihood of theft, and the cost to repair it should you get into an accident. Therefore, you can often save money on auto insurance by purchasing cars that have higher safety ratings, as well as anti-theft features. Of course, a less expensive vehicle will cost less to insure.

3. Increase your deductible

By selecting a policy with a higher deductible on your auto insurance, you can reduce your premiums. However, that means you will need to ensure you have enough money saved to pay the larger deductible in the event that you have to file a claim.

woman holding her arm out a car window giving a thumbs up

4. Reduce your coverage on older vehicles

According to the Insurance Information Institute, carrying collision and comprehensive coverage might not be worth it if your older vehicle is worth less than 10 times the cost of your premium. You can check the value of your car for free on automotive websites like Kelley Blue Book and TruCar. Then, you can compare the value of your car with the amount you pay in premiums to determine the adequate level of coverage that you need.

5. Save money by bundling your coverage

Oftentimes, insurers will give policyholders a discount if they purchase at least two insurance policies from the company - also known as bundling. For example, you might be able to save money by bundling your home and auto coverage together - or by insuring more than one car.

two people shaking hands

6. Maintain good credit 

Maintaining a good credit rating comes with many financial benefits. For instance, it can often lower your car insurance premiums. That's because most insurers check your credit history when determining your rates.

7. Inquire about additional discounts 

Lastly, ask insurance companies about any discounts that they offer. For example, you might be able to save money on your premiums by taking advantage of one or more of the following discounts: 

  • Low mileage discounts 
  • Group rates 
  • Good driving record 
  • Completing a defensive driving class 
  • Good student discounts for high school and college students who maintain good grades

In short, don't make the mistake of getting just one auto insurance quote and assuming that the premiums will be the same across all insurers. Take the time to research different companies, as well as your various options, to find the best premium that gets you the amount of coverage that you need.

Weston Auto Service is an auto repair specialist located in Fort Collins, Colorado. We are ASE-certified mechanics specializing in foreign and domestic auto repair. For a free diagnostic and full analysis of your car problem please contact us.

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