Everything Colorado Drivers Need To Know To Change Car Insurance

Change is inevitable, even with your auto insurance provider. As your needs evolve, the need to change car insurance for Colorado drivers becomes apparent. When you switch car insurance, you are providing yourself with better coverage, lower premiums, or both.

For anyone, changing car insurance can be daunting. Whether it’s your first time or something you’ve been through many times before. You might worry about cost or transitioning to a new insurer, but rest assured, you’re not alone.

Below, we’re answering the questions about car insurance changes, including how the process works, how it can help you, and finding the right timing.

 

How To Switch Car Insurance in Colorado

Colorado drivers looking to change car insurance can do so with only a few easy steps. It’s a simple process and in the end, you can find better coverage, lower premiums, or both on auto insurance in Colorado. Here’s how you avoid headaches and find proper coverage.

 

Find the Coverage You Need

The first part of the process means identifying the coverage you need. There are several different car insurance coverages out there that go far beyond the protection you receive when signing up for the bare minimum, liability coverage.

There are coverages that can protect you in the event of a loss involving the weather, hit-and-run situations, and even coverage for paying off your note should your vehicle become totaled.

At the end of the day, each driver has different needs and risks. By looking at your risks and the coverages available, you can identify the right policies to keep you protected on and off of the road.

 

Compare Coverage Options Among Different Colorado Carriers

In Colorado, how to switch car insurance companies can be a bit difficult because there are many options available. Many motorists feel overwhelmed and there is a lot of noise to cut through as advertisers compete for the attention of potential customers.

Once you understand your risks and the type of coverage that best suits your needs, it’s important to compare your options. Different carriers have different levels of protection and costs for premiums. Shopping around is crucial to avoid overpaying and to find the right protection.

 

Purchase Your New Coverage Before Canceling Old Coverage

An imperative step when you change car insurance is to purchase the policy you are going to use moving forward before you get rid of your old policy. This is very important because failing to do so leaves you exposed and can cost you money in the future.

Having a lapse in coverage puts you at risk in the event of a loss, but it’s a bit deeper than that. Not only do you add this unnecessary risk before your new policy kicks in, but lapses in coverage are frowned upon and future rates will reflect this by providing coverage but at an elevated premium.

 

Obtain Proof of Insurance

The last step is to get proof of insurance from your new carrier. This is important and relatively simple, as most motorists will simply have it emailed to them. You will, however, need to tell whoever you finance your vehicle through that you’ve changed carriers once you receive proof of insurance if it applies.

 

Can You Switch Auto Insurance at Any Time in Colorado?

Colorado drivers have the flexibility to change their auto insurance policies as they see fit. However, it’s crucial to ensure continuous coverage without any lapses during the transition.

You should always review your coverage once or twice a year to make sure you’re receiving the best rates for your protection. However, it’s wise to avoid switching car insurance without a valid reason, as many providers offer perks and discounts based on customer loyalty.

Remaining with the same insurance provider for an extended period often leads to more favorable rates and discounts as a token of appreciation. Additionally, you’ll need to be aware that you may have a cancellation fee if you change car insurance in Colorado.

Having a cancellation fee will vary from carrier to carrier and you’ll need to read the fine print of your specific policy. Be sure to work with your insurance agent to avoid unnecessary or surprising expenses when changing carriers.

 

Changing Car Insurance in Colorado and Affects to Your Credit

There are many drivers who have concerns about switching their auto insurance or getting an auto insurance quote and hurting their credit. However, neither of these actions will hurt your credit. This is because, if anything, they will involve soft inquiries that do not report to credit bureaus.

The issue that may arise for drivers is when policies are canceled. This can happen if you fail to pay your premium. Therefore, if you stay current on your premium payments, even if you switch car insurance companies, you’ll be fine.

 

How to Switch Insurance to a New Car in Colorado

Over 236,700 new vehicles are purchased each year in the Centennial State, and again, that doesn’t take into consideration used vehicles which may not be “new” but are new to someone.

Switching car insurance for a new vehicle in Colorado is important to motorists across the state as it’s a relatively common occurrence. There are many ways to do it, but if you want to avoid issues and take the path of least resistance, here’s what you need to do.

 

Let Your Current Carrier Know

You don’t necessarily need to change car insurance when purchasing a new vehicle. Even if you are, it’s important to let your current insurer know that you have a new vehicle so that you’re covered no matter which choice you decide.

 

You May Still Want to Shop Around

While you may not need to change car insurance companies, it can still be beneficial. Take your time like you would any other time you’d change coverage and shop around with different carriers.

Again, you still need to let your current/old, and new carrier know that you have a new vehicle to avoid issues in the event of a loss. You may also benefit from new coverages, such as gap coverage, because of the change in circumstance.

 

Contact Anyone Relevant to the Change

If you’re changing car insurance and financing a vehicle, let your loan company know about the switch. The same goes for any other entity that may need to understand this change. As long as you are covered, you’ll likely be okay, but this step can help alleviate unnecessary stress from confusion down the road.

 

How to Switch Car Insurance to Another State

Moving to another state is going to come with a lot of moving parts to set up. You’re going to need to get your affairs in order and that includes your car insurance. Whether you’re leaving Colorado or moving into the Centennial State, these are the steps you’ll need to take.

 

Contact Your Current Carrier About the Move

You need to notify your current auto insurance company of the move. Not every carrier is available in every state. Therefore, you’re going to need to tie up any loose ends and coordinate the move so that both parties are on the same page.

 

Understand Your New State’s Auto Insurance Requirements

Different states have different requirements, primarily focusing on the amount of liability coverage you obtain. Regardless, you’re going to want to understand the amount of coverage you need, and how it affects your premiums, and be sure to enroll in at least coverage to remain in good standing with the law.

 

Protect Your Needs, Compare Coverages, and Enroll

Even if you stay with your current carrier, the needs and risks you have can change when moving to a new state. Be sure to understand your risks, compare coverage among your current and other carriers, and enroll before canceling your coverage as you would switching policies within your state. This way, you have the right level of coverage and avoid a lapse.

 

The Top Reasons Colorado Drivers Should Switch Car Insurance

Switching your auto insurance carrier may not be an everyday occurrence, but it’s crucial to have a valid reason and a plan when you decide to make the change. In other words, you should only change car insurance when it’s advantageous to your budget, lifestyle, or coverage needs.

Several positive factors may lead you to switch insurers, including getting married, relocating to Colorado from another state, joining an organization that offers member discounts, adding a new driver to your household, having multiple accidents with your current insurer, or purchasing a new vehicle.

Significant life events like these can impact how insurance companies perceive you as a client, potentially leading to savings on your coverage when discussed with an auto insurance agent.

 

When Changing Car Insurance Companies Should Be Avoided in Colorado

Switching auto insurance should be a thoughtful decision aimed at enhancing your position as a driver in Colorado. It’s crucial to discern when not to switch, as impulsive choices can yield short-, medium-, or long-term consequences.

Instances where delaying a change in your auto insurance coverage is prudent include staying with your current insurer if you’ve enjoyed long-term discounts, refraining from switching shortly after a recent change, and considering the impact of hefty cancellation fees before making a move.

Working with an insurance agency representing multiple auto insurance brands offers benefits, as they prioritize your interests, offering expert guidance and impartial suggestions to help you find the right auto insurance coverage and save money in the process.

 

How To Change Car Insurance in Colorado and Save on Premium

Changing your auto insurance policy is one thing, but if you’re going to save in the process, you’re going to need to understand how premiums are created and what you can do to combat them. Not all policies are the same and even if you choose the right coverage at the same level among different carriers, you’ll notice different prices.

This is exactly why we recommend comparing coverage options and shopping around different brands when making the switch. Here’s how you don’t simply change car insurance in Colorado but save money doing it:

 

Identify Factors That Affect Your Premium

Auto insurance is all about assessing risk, which determines the cost of your premium. Less risk means fewer claims and lower premiums, while riskier drivers pay more. Factors like age, location, marital status, gender, coverage needs, driving and claims history, and deductibles influence your rate.

Each insurance company uses its unique calculations, algorithms, and priorities when evaluating these factors. Therefore, you’ll need to work on the risk factors you can control and identify which carrier can provide you with the lowest cost regardless of any factors you have that may personally raise your rates.

 

Look for Discounts That Fit Your Lifestyle

Just like there are different factors that can affect your rates, different lifestyles are going to find discounts that fit accordingly. For example, if you have an older vehicle, you’re unlikely to qualify for a discount built around tech features, but you may still qualify for safe driving or occupational discounts.

The point is that there are several discounts available and you need to understand which ones apply to you. This can be difficult because there are so many available. While time-consuming, it can pay off with considerable savings both in the short and long term.

 

Work With an Auto Insurance Broker

Shopping for quotes comparing what is offered to what you need and looking into the fine details is going to take time. This is why utilizing an auto insurance broker can be beneficial. Instead of sifting through all of this information alone, you’ll have a team to do it in a fraction of the time.

Furthermore, when you source information from singular brands, it can be difficult to understand whether or not you’re getting the best solution for your needs or the carriers. Insurance brokers partner with multiple carriers and work to provide the best outcome for you rather than a particular brand.

Freedom Insurance Group helps drivers in Colorado switch car insurance by partnering with top-rated carriers. Our team can provide you with accurate quotes, your best coverage options, and the lowest premiums available for your needs in a fraction of the time.

If you need to change car insurance in Colorado, we’re here to help. We can even bundle your coverage with a renters policy or Colorado homeowners insurance policy for additional savings and coverage. Contact us at the number above.