Are you researching the cheapest Chevy Colorado insurance in Louisville? Trying to find better insurance prices for your Chevy Colorado in Kentucky can be difficult, but you can learn the following methods to find lower rates.
There are more efficient ways to shop for insurance and you need to know the proper way to get price quotes on a Chevy and find the best price possible from both online companies and Louisville agents.
Companies offering competitive Chevy Colorado rates in Louisville, KY
The following companies offer price quotes in Louisville, KY. To get cheap car insurance in Louisville, KY, we suggest you visit several of them to get the lowest price.
Insurance rate breakdown
The premium table displayed next covers a range of insurance costs for Chevy Colorado models. Having insight into how policy premiums are calculated is important for you to make informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Colorado LT 2WD | $180 | $394 | $424 | $26 | $128 | $1,152 | $96 |
| Colorado LT Extended Cab 2WD | $212 | $480 | $424 | $26 | $128 | $1,270 | $106 |
| Colorado LT 4WD | $212 | $394 | $360 | $22 | $108 | $1,096 | $91 |
| Colorado LT Crew Cab 2WD | $212 | $480 | $424 | $26 | $128 | $1,270 | $106 |
| Colorado LT Extended Cab 4WD | $212 | $394 | $360 | $22 | $108 | $1,096 | $91 |
| Colorado LT Crew Cab 4WD | $242 | $480 | $360 | $22 | $108 | $1,212 | $101 |
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Prices do not factor in garaging location in Louisville which can influence premiums noticeably.
Insurance premiums by gender
The illustration below shows the comparison of Chevy Colorado yearly insurance costs for male and female drivers. The information is based on no accidents, no driving violations, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are applied.
Chevrolet Colorado liability rates compared to full coverage
The diagram below compares Chevy Colorado insurance costs with full coverage and liability only. The rates are based on no claims, a clean driving record, $250 deductibles, marital status is single, and no additional discounts are factored in.
Deciding between full coverage and liability only
There is no definitive formula for dropping comp and collision coverage, but there is a general school of thought. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s say your Chevy Colorado replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $3,000 after paying your policy deductible. If you are paying over $300 annually for comprehensive and collision coverage, then it could be time to drop full coverage.
There are some circumstances where dropping full coverage is not a good idea. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Cheap Chevy Colorado insurance rates in Louisville
Auto insurance is neither fun to buy or cheap, but you might already qualify for some discounts that many consumers don’t even know exist. Certain discounts will be triggered automatically when you get a quote, but some need to be manually applied before you will receive the discount.
- Life Insurance Discount – Some insurance carriers give better prices if you take out auto and life insurance together.
- Accident-Free Discounts – Claim-free drivers get the best auto insurance rates in comparison to bad drivers.
- Passive Restraint Discount – Factory air bags can get savings as much as 30%.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle up before driving could save 15% on the premium charged for medical payments and/or PIP.
- College Student Discount – Youth drivers who are attending college and do not have access to a covered vehicle may qualify for this discount.
- Smart Student Discounts – Getting good grades can save 20 to 25%. This discount can apply up to age 25.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like all those discounts means the company will pay you, companies don’t profit that way. But all discounts will definitely lower the amount you pay for coverage.
The chart below illustrates the difference between Chevy Colorado annual premium costs with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, homeowner, safe-driver, and multi-policy discounts applied.
If you would like to see a list of insurers that have a full spectrum of discounts in Kentucky, click here to view.
Smart Consumers Save Every Year
Lots of things are considered when premium rates are determined. Some are obvious such as your driving history, but some are less obvious such as your marital status or how financially stable you are.
Little extras can really add up – Insurance policies have a lot of extra bells and whistles you can purchase if you don’t pay attention. Insurance for things like coverage for rental cars, accident forgiveness, and membership fees could be just wasting money. The coverages may be enticing when you first buy your policy, but your money might be better spent on other coverage so get rid of them and save.
Your employer and auto insurance rates – Did you know your career choice can influence rates? Careers like military generals, business owners, and miners have higher premiums than the average policyholder attributed to intense work-related stress and incredibly demanding work hours. Conversely, occupations such as professors, engineers and performers have lower than average premiums.
Drive less and save – Driving more miles in a year the more you’ll pay to insure your vehicle. The majority of insurers apply a rate based on how the vehicle is used. Cars and trucks that have low annual miles can get a lower rate compared to those used for work or business. A policy that improperly rates your Colorado is just wasting money. It’s a good idea to make sure your policy is rated on the correct usage for each vehicle, because it can save money.
How credit rating affects auto insurance rates – Credit score is likely to be a major factor in determining what you pay. Therefore, if your credit score is low, you could potentially save money when insuring your Chevrolet Colorado if you clean up your credit. Insureds with good credit tend to be more responsible than drivers with bad credit.
Urban areas may pay more – Choosing to live in less populated areas can save you money when shopping for auto insurance. Less people living in that area means fewer accidents. Residents of big cities tend to have congested traffic and more severe claims. Higher commute times means more chance of being in an accident.
Limits of liability protection – The liability section of your policy provides coverage if a jury decides you are liable for personal injury or accident damage. Liability insurance provides you with a defense in court to defend your case. Liability is cheap compared to insuring for physical damage coverage, so insureds should have plenty of protection for their assets.
Insurance losses for a Chevy Colorado – Insurance companies analyze the history of losses to help set a rate to offset losses. Vehicles that the data shows to have higher loss trends will have higher premium rates.
The next table shows the historical loss data for Chevy Colorado vehicles. For each policy coverage type, the statistical loss for all vehicles compiled together is set at 100. Percentage values below 100 suggest a better than average loss history, while values that are above 100 show a trend for more claims or larger claims.
| 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 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Neighborhood agents and car insurance
A small number of people would prefer to go talk to an agent. Good insurance agents are very good at helping people manage risk and help file insurance claims. A good thing about comparing rate quotes online is the fact that drivers can get cheaper auto insurance rates and still buy from a local agent. And buying from neighborhood agents is important especially in Louisville.
To make it easy to find an agent, after completing this simple form, your insurance coverage information is sent to insurance agents in Louisville that can provide free Louisville car insurance quotes and help you find cheaper coverage. You won’t need to leave your house due to the fact that quote results will go straight to your inbox. If for some reason you want to get a rate quote from one company in particular, you would need to jump over to their website and fill out their quote form.
Multiple types of auto insurance agents in Louisville
If you are wanting to find local Louisville agents, it helps to know the two different types of agencies and how they can service your needs differently. Car insurance agents in Louisville can either be independent or exclusive depending on the company they work for. Either one can write policy coverage, but we need to point out the difference between them since it may influence your selection of an agent.
Independent Car Insurance Agents (or Brokers)
Independent agencies do not have single company limitations so they can insure your vehicles with a variety of different insurance companies and potentially find a lower price. If prices rise, an independent agent can move your coverage without you having to go to a different agency.
If you need lower rates, it’s recommended you include multiple independent agents to maximize your price options. A lot of them also have access to smaller regional carriers which can save you money.
Below are Louisville independent agents that may be able to give cheap rate quotes.
- Family Select Insurance
6409 Dutchmans Pkwy – Louisville, KY 40205 – (502) 454-7283 – View Map - Reeves Insurance Agency
3616 Dixie Hwy – Louisville, KY 40216 – (502) 448-6226 – View Map - Phil Brown Insurance Agency, Inc.
9300 Shelbyville Rd #1004 – Louisville, KY 40222 – (502) 327-6966 – View Map
Exclusive Car Insurance Agents
Agents of this type work for only one company such as State Farm, Allstate, or Farmers Insurance. Exclusive agents cannot provide rate quotes from other companies so they have no alternatives for high prices. Exclusive agents are usually quite knowledgeable on sales techniques which helps them compete with independent agents. Some insured continue to use the same agent mostly because of high brand loyalty and the convenience of having all coverages with one company.
Listed below are Louisville exclusive insurance agencies willing to provide comparison quotes.
- Jeremy Graham – State Farm Insurance Agent
5438 New Cut Rd Ste 102 – Louisville, KY 40214 – (502) 368-6529 – View Map - Duane Riley – State Farm Insurance Agent
7707 Bardstown Rd – Louisville, KY 40291 – (502) 231-7850 – View Map - Matt Miller – State Farm Insurance Agent
8321 Preston Hwy – Louisville, KY 40219 – (502) 964-6288 – View Map
Choosing the best insurance agent shouldn’t rely on just a cheap price quote. These are valid questions to ask:
- Can glass repairs be made at your home?
- Will the company cover a rental car if your car is getting fixed?
- When do they do a full risk review?
- How does the company pay claims for a total loss?
- Does the agency have a current Errors and Omissions policy?
- How much can you save by raising your physical damage deductibles?
Best car insurance in Louisville
Picking the top insurance provider can be rather challenging considering how many companies there are in Kentucky. The information listed below may help you select which auto insurance companies to look at comparing prices from.
Top 10 Louisville Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Top 10 Louisville Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- Esurance
- The General
Cheap car insurance premiums are out there
As you prepare to switch companies, never buy lower coverage limits just to save a few bucks. There are too many instances where an insured dropped full coverage only to regret that it was a big error on their part. Your strategy should be to buy a smart amount of coverage at the best cost.
Budget-conscious Chevy Colorado insurance can be sourced from both online companies as well as from independent agents in Louisville, so you should be comparing quotes from both to have the best chance of lowering rates. Some insurance providers may not offer price quotes online and these smaller companies only sell coverage through local independent agents.
Insureds switch companies for any number of reasons including delays in responding to claim requests, not issuing a premium refund, unfair underwriting practices or an unsatisfactory settlement offer. Regardless of your reason, finding the right car insurance provider is easier than you think.
How to buy discount Chevy Colorado insurance in Louisville
If you want to find the absolute lowest rates, then the best way to find cheaper prices for Chevy Colorado insurance in Louisville is to annually compare prices from insurance carriers in Kentucky. Rate comparisons can be done by following these guidelines.
Step 1: Try to comprehend how companies price auto insurance and the steps you can take to keep rates down. Many factors that result in higher prices like multiple speeding tickets and poor credit history can be controlled by making minor changes in your lifestyle.
Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can quote rates for a wide range of insurance providers. Click to view companies
Step 3: Compare the quotes to your existing rates and determine if there is any savings. If you find a lower rate quote and buy the policy, ensure there is no coverage lapse between policies.
One thing to remember is to use the same deductibles and limits on every quote request and to quote with as many companies as feasibly possible. Doing this helps ensure an accurate price comparison and the best price selection.
Helpful information
- Side Impact Crash Tests (iihs.org)
- What Insurance is Cheapest for Seniors in Louisville? (FAQ)
- Who Has Cheap Louisville Auto Insurance Rates for Single Moms? (FAQ)
- Who Has the Cheapest Louisville Auto Insurance Rates for a Subaru Forester? (FAQ)
- Who Has Cheap Louisville Car Insurance Rates for High Mileage Drivers? (FAQ)
- Who Has Cheap Louisville Car Insurance Rates for a Honda Pilot? (FAQ)
- Speed and Speed Limit FAQ (iihs.org)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Vehicle Insurance (Wikipedia)