Longmont Car Insurance

Longmont, Colorado is located northeast of the Denver Metropolitan area and close to the town of Boulder, Colorado.

The view of historic Long's Peak as you proceed toward Longmont is breathtaking in summer and winter. Population as of the 2010 census was 86,270 and is now estimated to be just shy of 90,000 people.

The economy is fueled by a combination of industries including high-tech companies such as Seagate Technologies and Amgen, the Federal Aviation Administration, as well as a number of agriculture and service related entities.

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The city's location within driving distance of Boulder and Denver strengthens the economy by adding options for employment.

This growing city has a lively insurance industry to assist the residents in protecting their investments in automobiles, homes, and small businesses. Colorado has a mandatory requirement for car insurance that is strictly enforced.

In Colorado, the following limits of liability are required:

• $25,000 per person bodily injury liability
• $50,000 per accident bodily injury liability
• $15,000 per accident property damage liability

Additionally, Colorado requires that $5,000 of medical payments coverage be offered to individuals to defray emergency costs including medical fees and transportation. You must refuse this coverage in writing for it not to be purchased.

Shopping for Car Insurance 

All of us realize that automobile insurance takes a bite from our monthly budgets and we're looking for ways to reduce that bite. There are some ways to save on car insurance:

• You should get at least three quotations for your car insurance to compare premiums adequately. Each company varies rate according to their experience with losses, so a massive hailstorm in Southern Colorado may affect your rates.
• Keep a clear driving record and attempt not to have claims. Accidents happen, but you should take the necessary precautions by avoiding driving while intoxicated, using the cruise control on long empty roads, paying attention and staying awake when driving, and noticing signs.
• Be careful about your credit rating because insurance companies examine that when determining rate categories. Individuals with poor credit are more likely to file claims than those with good credit.
• Ask for a quote from your insurance agent before purchasing a car. Some cars cost more than others to insure for a number of reasons. Don't get blind-sided with a new vehicle that costs a great deal to insure.
• Ask the agent about discounts. Insurance companies offer various discounts: anti-lock brakes, air bags, passive restraints, multi-car discounts, and discounts for purchasing your home and auto insurance at the same company may be available.

Choosing an Insurance Company

Be careful to investigate insurance companies because advertising with a cute or catchy animal representative doesn't insure great coverage or service. There are a number of ways to investigate companies:

• Ask friends and relatives for recommendations
• Go to the Colorado website and click on "insurance" to see if the company and agency are licensed, and any complaints they may have accumulated.
• Consult the NAIC (National Association of Insurance Commissioners) for financial and complaint information about insurance companies
• Check with A. M. Best, for credit ratings for insurance companies
• McGraw-Hill, through Standard & Poor's also does credit ratings and research upon insurance companies

Physical Damage to Your Own Car

Liability coverage does not protect your own vehicles. Since most of us obtain loans to purchase vehicles, it is a good idea to protect that investment from damage. There are two types of coverage that protect your own vehicle:

• Collision coverage - reimburses you for the actual cash value of damage should you, run into something or be hit by something that damages your own vehicle. This applies whether or not it's your own fault.
• Comprehensive coverage - reimburses you for the following perils: fire, theft, windstorm, flood, vandalism, or hitting an animal. Do you remember that four-point buck you almost hit on the way to Longmont?

A deductible is applied to the final settlement of either comprehensive or collision before your interests are paid.

Deductibles vary from $250 to $1,000 with reductions in premium for most. Assess carefully if you will be able to afford the deductible. Many of us live from paycheck to paycheck with no savings and a deductible can cause problems.

Getting Quotes on Insurance

Determine the limits of liability and physical damage you wish to purchase for your car or cars. Suggested limits if you are an average person with car payments, house payments, and some savings would be:

• $100,000 per person bodily injury/$300,000 per accident bodily injury
• $50,000 per accident property damage to others
• $5,000 medical payments
• $500 deductible comprehensive – on your own vehicles
• $500 deductible collision – on your own vehicles
• $100,000 per person bodily injury/$300,000 per accident uninsured/underinsured motorist protection for you and your family

Remember that medical payments take care of emergency medical services including ambulance fees, trauma teams, and medical treatment at the time of accident for you and your family.

You may want to consider increasing this coverage if you travel far from urban areas often because the costs for a flight to connect with emergency care are upward of $20,000 per accident.

Uninsured motorists coverage is necessary because, in spite of the law, up to 17% of drivers do not carry the required liability insurance or do not purchase enough to pay for injuries to you or your family.

You need to remember, also, that automobile insurance does not cover such things as four-wheelers, recreational vehicles, motorcycles, and other vehicles. You need separate insurance policies for these.

Information to Collect before Asking for Quotations

Insurance companies have a plethora of questions about you and your family, so it is best to be prepared for these. Collect the following information:

• Complete names, dates of birth, and drivers license numbers for all drivers – don't skip that sixteen-year-old with a provisional license
• Claim and violation history during the last five years for each individual
• Make, model, and VIN number (usually right beneath the windshield on the drivers' side when you look in) for all automobiles
• Limits of liability and physical damage you want to have quoted – you can always add more, but be certain the figures are the same at first.
• Usage of each vehicle, i.e. commute 20 miles one way five days a week or whatever
• Estimated annual mileage for each vehicle
• The company will want a phone number, address, social security number, and e-mail address for you. You can skip the social security number until you determine the company for sure.

Comparing Quotations

Ask for a hard copy of each of the quotations so you can be sure they are comparable in coverage. Weigh the financial information you have obtained as well as complaint frequency for each company.

Choose the company that appear the best to you and one with an agent or representative who will listen to your concerns and worries.Be sure to read the policy once you have received it to make sure you have the coverage quoted. Clerical errors happen.

Put all this information in a folder that will be available next year and plan to do it again. Vigilance in shopping is the most reliable way to save money.

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