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Colorado Automotive Insurance
Where should I set my deductibles at?
We always recommend looking at different deductible options and the premiums associated. Picking the correct auto insurance deductible for you is all about what you can afford to pay out of pocket if/when a claim occurs and also what auto premium fits your budget.
Full coverage or liability insurance only?
This is always a tricky question and varies based on the customer themselves. When our clients ask whether they should carry full coverage auto insurance or liability only, we always respond back with the question “how much do you feel your car is worth?”
Then we follow that question up with “so if you were to get in an accident and wreck your car tomorrow, what would that amount of money be worth to you?”
These two questions help the client answer realize the best deductible option themselves. Also keep in mind, if you have a loan on a vehicle, most likely your finance company is going to require that you carry full coverage insurance with a minimum of $1,000 deductibles for comprehensive and collision.
Should I add accident or ticket forgiveness if available?
We would absolutely recommend adding these coverages if available. This is even more important for teen auto insurance. Teenagers are definitely more likely to get into an accident or be cited with a traffic ticket. The rate increase without accident forgiveness could be substantial. Traffic ticket or accident forgiveness usually waives one incident in the household within that insurance policy term. This type of coverage could end up saving you a lot of money.
At what point do I need to add a teenage driver to my policy?
You need to add your teenager onto your policy as soon as they become a licensed driver. They do not need to be listed on the policy while they are just carrying a permit (as they are not a licensed driver yet). However, it would be a good idea to update your auto insurance agent when your child has gotten their permit.
Letting your agent know about the driving permit gives them the opportunity to begin shopping around with all of our carriers to find the best insurance rates available. Planning ahead will help you know what rate to expect ahead of time. In addition, it will give you time to seek out the “good student discount” and “approved driver safety course discount” documentation so that you are ready when your teen gets his or her actual driver’s license.
What GPA does my teenage driver need for a good student discount?
Your student needs to be able to document a 3.0 or better GPA in school from their last semester’s report card.
Colorado Insurance is a team of auto insurance agents who are knowledgeable and experienced in helping you find the best auto insurance policy available. We strive to match the right policy for each Colorado resident’s individual needs. Call us today at 720-283-1722 or simply visit us online to get the best quotes on auto insurance available.