Colorado Auto Insurance Rates are Plummeting

Save your money to spend on better things.

Did you know that Colorado auto insurance rates are plummeting by the second? If you’re already locked into a policy that’s costing you $500-600 a year the answer is probably not! Auto insurance companies know that most drivers like to find a good policy and stick with it, and that once they find a company they like to work with they’re probably not going to bother looking around. They’re not deliberately misleading you, they’re just not telling you the full story. And the full story could save you over $100 a year on your auto insurance policy.

It’s like this. Recent surveys done by Insurance.com showed that:

a) 44% of drivers believe they’re overpaying for car insurance.

b) 32% of drivers are driving less than they were six months ago, for various reasons.

c) 22% of insurance shoppers report that they’re doing it because their rates had recently increased with their renewal from their current auto insurance provider.

That means that over 1/3 of drivers, on average, aren’t happy with their current car insurance provider, and that by failing to shop around they’re setting themselves up to pay more than they should because they aren’t receiving the auto insurance discounts they qualify for. Their Colorado auto insurance providers aren’t telling them the full story.

To add insult to injury, the same shoppers mentioned in the study above found that when they went shopping for a new auto insurance policy from various Colorado auto insurance providers discovered that the auto insurance rate they qualified for had, on average, dropped close to $100 from what they were in the fall of 2008. If your policy is expiring, now is the perfect opportunity for you to start looking around for a better deal.

The good news is that the drop in auto insurance rates means that many drivers can afford to put comprehensive and collision coverage back on their policy. You’d be amazed at the drivers on the Colorado highways that are carrying the bare minimum level of insurance coverage in an attempt to be able to continue to afford their car and their house payment. And then there’s that little matter of wanting to eat on a semi-regular basis…

Because of the rapid rise in auto insurance rates last fall and the pinch on the economy many drivers decided to drop additional coverage from their Colorado auto insurance policy-and a frighteningly large number of them are currently cruising the roads with no insurance at all. The number of uninsured drivers in the U.S., including Colorado, has risen rapidly over the past twelve months. Recent studies published at Car-Accidents.com showed that 34% of Colorado drivers are driving uninsured-the highest percentage of any state in the U.S..

The next time you’re stuck in traffic on I-70, take a look around you. The four drivers currently boxing you in? At least one of them is driving without insurance.

Experts hope that as Colorado auto insurance rates continue to fall those numbers will decrease dramatically. In the meantime, it’s up to you to take advantage of this fantastic opportunity and shave $100 off your auto insurance coverage today.

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