You Get What You Pay for: Why the Cheapest Car Insurance Isn’t the Best Choice for Colorado Drivers

We all love to save money, so when it comes to car insurance, the last thing we want to do is pay too much. Colorado Farm Bureau Insurance would like to offer a few suggestions to help guide you in making wise choices when purchasing car insurance

Going Cheap on Car Insurance Can Be Risky 

Simply put, purchasing the “cheapest” insurance rates you may be able to legally get away with is a risky move. This insurance is practically guaranteed to cost you much more down the road.

For instance, signing up for policies with the lowest monthly or semi-annual payments is a trade-off for high deductibles.

Cheap Car Insurance Example:

A driver is at fault in an accident with a vehicle worth tens of thousands of dollars. Their insurance policy will pay only a fraction of the damages and medical bills. Therefore, they are on the hook for the remainder, and they find themselves in years of debt. 

The truth is, adding a few more dollars to your regular insurance payments could mean the difference between jeopardizing your future financial status for years and walking away with peace of mind. 

Auto Coverage You Should Never Skimp On

If you do have an accident, you could suddenly find yourself becoming very familiar with terms like bodily injury liability, property damage liability, medical payments coverage, and collision coverage. 

We include a few of the most important coverage items below. (Check the State of Colorado’s requirements)

Liability Coverage

If you are at fault in an accident, this is the insurance that pays for the car repairs or replacement of the other vehicle. This also pays for medical treatments suffered by the passengers. These costs could come to tens or hundreds of thousands of dollars. As a result, you could be subject to wage garnishment, removal of your savings, or sale of some assets if you don’t have the funds to cover them. 

Uninsured Motorist Coverage

If you are involved in an accident that was caused by another driver who has little or no insurance coverage to pay the costs of your vehicle’s damages or any injuries suffered by you and your passengers’ medical expenses, you could be left with these enormous costs yourself.

Roadside Assistance

If you’re stranded alone and far from home, the roadside assistance feature of your insurance could literally be a lifesaver.

Get a Quality Car Insurance Policy

Remember that one of the most valuable aspects of choosing auto insurance is the element of personal service. Buying insurance from an online company may allow for some cut rates. However, it can’t offer the most important element: great local service from local agents like the agents of Colorado Farm Bureau Insurance.

Our agents assist customers every step of the way—from helping you with fine details to helping process claims. To find out more about our affordable insurance and superior customer service, contact an agent near you.