Are you looking for the best auto insurance in Colorado Springs at the best price? We write very competitive car insurance quotes at Mikeal Taylor Insurance Agency to properly insure you and your family. We also insure all automobiles, new and old – we even offer vintage and collector car insurance policies.
Let’s talk about why you want the best car insurance – not necessarily the cheapest car insurance. Here’s a possible scenario:
Your car slides to a stop with the sickening sound of metal scraping metal. And maybe it was your fault. You realize your car, your way to work, your way of getting from point A to point B is now gone. Maybe someone else’s means of getting from A to B is also wrecked. People may have been hurt bad enough to require substantial medical care.
What do you do now? Well, hopefully, you had the proper car insurance. Otherwise, you are in a serious bind. However, when you have the right car insurance, your car (and other person’s car) can easily be replaced or repaired. Likewise, you should be adequately covered for medical expenses.
While there are many insurance agencies to choose from, not all of them have the same level of experience and customer service. And not all insurance products are the same. Give us a call today to find out what’s made Mikeal Taylor and his team one of the top five car insurance brokers in Colorado Springs and all of southern Colorado. All quotes are provided free of charge.
Learn More: What Is Auto Insurance?
Auto insurance (or commonly called car insurance) is basically an agreement between you and your insurance company. You pay a monthly, quarterly or yearly fee. The insurance provider promises to replace or have your car repaired if you wreck or if your car is damaged in some way. According to the Insurance Information Institute, an auto insurance policy is usually made up of six different kinds of plans or coverage.
What Are the Common Types of Coverage within Auto Insurance Policies?
- Liability:This type of car owner’s insurance covers you if you are at fault in a wreck. It will take care of the repairs to the other car and any medical expenses passengers or the other driver might have. It also covers legal fees. There is usually a limit to this policy. You will have to pay out of pocket once you hit that limit.
- Collision: This is another important part of an auto insurance policy. Collision coverage protects you if you hit an object, such as a light pole or another vehicle. Once you pay your deductible, your collision coverage will pay to have your car repaired.
- Comprehensive: This aspect of auto owners insurance is sometimes referred to as “other than collision.” This covers a loss to your vehicle not caused by an accident. For example, it will cover you if a tree falls on your car during a storm or if you hit an animal. Comprehensive also comes with a deductible that needs to be paid before the coverage will kick in.
Related blog article:
Top 5 Questions To Ask About Insuring Your Teenage Driver
Other Types of Coverage Often Included in Your Auto Policy
- Medical Expenses: This covers you or someone else who is injured in your car. Some people don’t realize it, but it also covers your family when they are riding in someone else’s car. Of course, much of this will depend on who is at fault for the accident. More on this below.
- Underinsured or Uninsured Motorist: Even though the law requires auto insurance in many states, there are still people who don’t have coverage, or don’t have enough coverage. That is what makes this part of an auto insurance policy so important. This will cover you if the person at fault doesn’t have insurance, or if they drive away.
- Roadside Assistance: This is an optional addition to auto insurance. This provides you a tow to get your car needed service. It can also help you out if you have a flat tire.
- Rental Reimbursement: If your car is damaged severely in a wreck, it is going to take a little while to repair. Of course, you still need to get to work. That’s where rental reimbursement comes in. It covers the cost of a rental in the event you need one while your car is being repaired.
How Does Auto Insurance Work?
Let’s assume you got into a wreck, like we mentioned above. What now? How does your auto insurance work. Well, the first step is to call us at Mikeal Taylor Insurance Agency, where our team can tell you what to do next. Usually, we have your car towed to a repair shop and an estimate for the repair is given. You usually have to pay some sort of a deductible before your car can be repaired. We then pay for your car to be repaired. However, Colorado works off a tort system. This means that fault has to be established before we can pay a claim. This can slow the process down some, but our team is committed to getting you back on the road quickly.
What Auto Insurance Laws Exist in Colorado?
According to the DMV, all Colorado drivers must have car insurance. This is enforced by the Colorado Department of Regulatory Agencies. Not only do Colorado drivers have to purchase car insurance, the policies have to meet certain requirements.
Drivers must AT LEAST have the following liability coverage:
- $15,000 for property damage.
- $50,000 per accident for injuries to the body.
- $25,000 per person for injuries to the body.
What Is No-Fault Insurance?
Colorado used to be a no-fault state. This means it didn’t matter who was at fault in an accident. Each person’s own personal insurance company would cover their needs. Now, Colorado uses the tort system. This means that you as a driver or your passengers’ medical needs aren’t covered by your car insurance company if you were not at fault for the wreck. Instead, you have to work with the other driver’s insurance company to cover your medical needs. If the other driver is without car owner’s insurance or doesn’t have enough, then your auto insurance policy can pay for your medical needs. Of course, this can all seem confusing. Thankfully, Mike understands how to work within the new tort law to help you recover from your accident.
What Causes Auto Insurance Rates to Increase Sometimes?
Car insurance is based on risk and reward. You buy the policy hoping you never have to use it. We also don’t want you to need it either. Therefore, if you get a traffic tickets, the risk of insuring you goes up. As a result, your rates likely increase. Your rates also likely increase if you are arrested or in an accident for the same reasons. Remember, your driving record does matter. Safe drivers are rewarded with lower insurance rates.
Will Auto Insurance Cover You Out of Country?
Let’s imagine you go to Canada or Mexico on vacation. The worst happens and you find yourself in a wreck. Will your auto insurance cover you? Perhaps, you didn’t wreck but need to rent a car. Will your insurance plan work? The short answer is it depends. Some countries will honor your auto insurance. Neighboring countries, like Mexico and Canada are more likely to work with you. However, to be safe, call us before you travel and we will let you know for sure.
What Does Auto Insurance Cover?
You car owner’s policy will cover a wide range of things. Many are mentioned above. It will cover the cost of repairs for your car. This can be a result of hail damage or a car accident. A good policy will also cover medical needs, legal fees, vandalism and much more.
What Type of Auto Insurance Do You Need?
There is no simple answer to this question. Of course, living in Colorado, you have to have at least liability coverage. We mentioned this in depth earlier. However, beyond the basic coverage required by law, it is really up to you. How much do you value your car? How big of a deal would it be to you to lose it? Can you afford a major repair out-of-pocket if you got in an accident? To help you decide what type of policy you need, our team at Mikeal Taylor Insurance Agency asks you several questions. This tells us what policy would work best for you.
Does Auto Insurance Cover Hail Damage?
Of course, it depends on your specific policy. However, if you have comprehensive coverage, you should be covered for hail damage. We can let you know for sure about your specific policy if you give us a call.
Does Auto Insurance Cover Vandalism?
Something you don’t often think about when it comes to your car is vandalism. However, it isn’t uncommon for a window to be busted out by someone looking for some quick money. Again, in most cases, a comprehensive insurance policy will usually cover vandalism.
Do Auto Insurance Premiums Increase with Age?
Although your health insurance cost is likely to increase along with your gray hair, this doesn’t happen with car insurance. Once you hit 25, your rates will generally go down. That is until you reach 65 years of age. At this point, you are considered a higher risk once again, and rates increase.
Is There a Way to Decrease Insurance Premiums?
Many insurance companies will reward their customers with lower rates if they take a driver’s education course. Another way to potentially lower your rate is buy a car with good safety features. Call us at Mikeal Taylor Insurance Agency to find out what you can do to lower you rate.
What Are You Likely to Pay for Auto Insurance?
Of course, each state is different and what you pay for insurance depends on several factors. Your age, what you drive, your driving habits and more are just a few things we look at. That’s why the national average is so broad. Your yearly cost for an auto policy can run anywhere from $1845 to $8,226, depending on the various factors we just mentioned.
How Much Insurance Do You Need?
Again, this isn’t something where one answer fits everyone. The best way to determine the answer to this question is coming into our office. Mike and our team will sit down with you and together we can decide how much insurance you need. Of course, in Colorado you must at least have liability coverage.
How Quickly Can You Get Car Insurance?
If you already have a policy, sometimes this covers you for a short time, like two or three days. It is kind of like a grace period. However, as soon as you purchase a car, you should contact us. If you don’t already have a policy, the dealership might require proof of insurance before letting you off the lot. Therefore, if you are thinking about buying a new car, call us first. We can get you insured fast.
Come see us today at Mikeal Taylor Insurance Agency. Our team helps get you the right car owners policy for your needs.