A study showed that the vast majority of insurance customers kept their coverage with the same insurance company for at least four years, and nearly half have never even compared quotes to find lower-cost rates. Most drivers in Aurora could cut their rates by up to $605 a year just by getting comparison quotes, but they don’t believe the amount of savings they would get if they switched.
The best way to get cheaper Mitsubishi Lancer insurance in Aurora is to start comparing rates regularly from insurance carriers in Colorado.
- First, read and learn about how car insurance works and the changes you can make to lower rates. Many things that result in higher prices such as high-risk driving behaviors and a less-than-favorable credit rating can be eliminated by paying attention to minor details.
- Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like Progressive or State Farm, while independent agents can quote prices from many different companies.
- Third, compare the quotes to your existing rates to see if cheaper Lancer coverage is available. If you find a lower rate and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, tell your current agent or company of your intent to cancel your current car insurance policy and submit the application along with any required down payment to your new insurance company. Be sure to keep your new certificate verifying proof of insurance in an accessible location in your vehicle.
A good piece of advice is to use identical deductibles and limits on each price quote and and to get prices from as many carriers as you can. This provides an apples-to-apples comparison and a complete selection of prices.
Locating the best insurance company for you in Aurora is really not that difficult. If you currently have a car insurance policy, you stand a good chance to be able to lower your rates using the ideas presented in this article. Consumers just have to understand the most efficient way to get comparison quotes using one simple form.
All major car insurance companies allow consumers to get price estimates on the web. Getting Mitsubishi Lancer insurance prices online is pretty painless as you simply enter the coverages you want as detailed in the form. When complete, their system makes automated requests for credit information and your driving record and gives you a price quote determined by many factors. Being able to quote online for Mitsubishi Lancer insurance in Aurora makes it easy to compare insurance prices and it is imperative to have as many quotes as possible if you want to get lower-cost prices.
In order to compare rates using this form now, compare rates from the companies below. To compare your current rates, we recommend you complete the form with deductibles and limits as shown on your current policy. Doing this guarantees you will have a rate comparison based on similar coverages.
The companies shown below can provide quotes in Aurora, CO. To get cheap auto insurance in CO, we recommend you visit two to three different companies to get a more complete price comparison.
Analysis of coverages
The rate information shown below outlines a range of prices for Mitsubishi Lancer models. Understanding more about how insurance policy premiums are formulated can benefit drivers when making decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Lancer Sportback GTS||$238||$490||$368||$22||$110||$1,228||$102|
|Lancer Sportback Ralliart||$264||$554||$368||$22||$110||$1,318||$110|
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Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Rates do not factor in specific garaging location which can revise coverage prices substantially.
Car insurance rates based on gender
The diagram below visualizes the comparison of Mitsubishi Lancer premium costs for male and female drivers. The rates are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, single status, and no policy discounts are applied.
Rate difference between full and liability-only coverage
The chart below illustrates the comparison of Mitsubishi Lancer insurance prices with full coverage compared to only the Colorado minimum liability coverage. The premiums assume no claims or violations, $250 deductibles, drivers are single, and no additional discounts are factored in.
When to stop paying for full coverage
There is no specific rule for excluding full coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Mitsubishi Lancer book value is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,000 after paying your deductible. If you are paying in excess of $600 a year for full coverage, then you may want to consider only buying liability coverage.
There are a few cases where removing full coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
How do Insurance Companies Determine Mitsubishi Lancer Insurance Premiums?
Lots of things are part of the equation when you get a price on insurance. Some factors are common sense like your driving record, but other factors are more obscure such as your credit history or your commute time.
The list below includes most of the major factors used by your company to calculate your premiums.
- When should you not file auto insurance claims? – Auto insurance companies in Colorado provide the best rates to drivers that do not abuse their auto insurance. If you’re an insured who likes to file claims you can expect higher premiums or even policy non-renewal. Auto insurance is meant to be used in the event of claims that pose a financial burden.
- Liability coverage is important – Your auto insurance policy’s liability coverage will protect you in the event that you are found to be at fault for causing damage or personal injury in an accident. It will provide legal defense which can cost thousands of dollars. This coverage is relatively inexpensive when compared with rates for comp and collision, so do not cut corners here.
- Tough occupation may mean higher prices – Did you know your job can affect your rates? Jobs like doctors, social workers, and dentists generally have higher premium rates attributed to intense work requirements and extremely grueling work hours. Conversely, jobs like professors, engineers and the unemployed have the lowest average rates.
- Prevent theft and reduce premiums – Owning a car that has a built-in theft deterrent system can get you a discount on your auto insurance. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent your car from being stolen.
- Maintain auto insurance coverage – Driving without insurance is against the law and as a result your rates will increase for letting your coverage cancel without a new policy in place. Not only will you pay higher rates, being ticketed for driving with no insurance could result in a steep fine or even jail time. You may have to file a SR-22 with the Colorado motor vehicle department to get your license reinstated.
What type of car do you drive? – The make and model of the car or truck you are trying to find cheaper insurance for makes a significant difference in your auto insurance rates. The lowest premiums tend to be for low performance passenger cars, but the final cost of insurance is determined by many other factors.
The chart below uses these assumptions: single female driver age 30, full coverage with $1000 deductibles, and no discounts or violations. It compares Mitsubishi Lancer policy rates compared to other models of vehicles that have different risk factors.
- Cheaper rates after marriage – Getting married can get you a discount on your auto insurance bill. Marriage usually means you are more stable financially and it’s proven that drivers who are married are more cautious.
Insurance loss probability for a Mitsubishi Lancer – Companies use data from past claims to help determine the price you pay. Models that have higher number or severity of losses will cost more for specific coverages.
The next table shows the historical loss data for Mitsubishi Lancer vehicles. For each coverage category, the claim amount for all vehicles combined as an average is equal to 100. Numbers under 100 indicate better than average losses, while numbers above 100 indicate more frequent claims or a tendency for losses to be larger than average.
Mitsubishi Lancer Insurance Loss Statistics Specific Mitsubishi Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mitsubishi Lancer 2WD 153 146 127 192 218 172 Mitsubishi Lancer 4WD 149 131 148 135 Mitsubishi Lancer Evolution 4WD 225 123 221BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Three reasons insurance is important
Even though it’s not necessarily cheap to insure a Mitsubishi in Aurora, buying insurance is required in Colorado but also provides important benefits.
- Most states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability in order to license the vehicle. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you bought your Mitsubishi with a loan, almost all lenders will stipulate that you buy full coverage to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender will be forced to insure your Mitsubishi at a significantly higher premium and require you to reimburse them for it.
- Insurance protects both your vehicle and your personal assets. Insurance will also pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability coverage also covers legal expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of buying insurance definitely exceed the cost, especially with large liability claims. Today the average American driver is overpaying more than $700 annually so it’s recommended you shop around at every policy renewal to help ensure money is not being wasted.
Best auto insurance in Aurora
Buying coverage from the right auto insurance company can be challenging considering how many different companies sell coverage in Aurora. The ranking data in the next section could help you decide which auto insurance companies you want to consider comparing price quotes from.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies