Chevy Colorado Insurance

Insurance Buyer's Guide to the Chevrolet Colorado

(Everything you need to know - and more)

You are in the market for a new truck and the Chevrolet Colorado has caught your eye. Now it's time to dig in to the details. How safe is this truck? What are the true costs of ownership? How can I be smart in choosing the options? What will be the impact on my insurance?

The Colorado received five out of five stars from Car and Driver magazine. It is technically a mid-size pickup, but offers nearly as much utility as its full-size counterparts — minus the troublesome parking of a huge truck. 

It earned decent marks on safety, comes in below national averages on many factors such as costs of insurance and repairs, and offers optional features that can avoid costly damage. You can expect to pay on average of around $1,138 in yearly insurance premiums, which is lower than the national average.

An independent agent can find you the best available insurance for the Chevy Colorado. But before you call an agent, gather all the information you need about purchasing Chevrolet Colorado insurance.

How Much Does Chevrolet Colorado Insurance Cost?

Average Cost of Chevy Colorado Insurance

The cost to insure a Chevrolet Colorado averages $1,138 annually, a few hundred dollars less than the national average of $1,474 per year. 

That may seem like a good chunk of change, but for the 12.6% of uninsured drivers, it probably sounds much more affordable than the costs of repairing another driver's vehicle or paying for their medical bills.

If your more-than-18-foot Colorado is involved in a crash with another vehicle, it can do some serious damage. You want to be sure your insurance policy will help you repair not only your Chevrolet, but the other person's vehicle as well. 

If you have passengers in any of the four seats available to them, you want to be sure an insurance policy will help them pay for any injuries. Going without insurance means you can be held responsible for paying for any repairs or injuries to another party out of pocket.

For the Colorado crew cab, the average annual insurance cost is around $1,121. The estimated insurance cost for the Colorado extended cab truck is around $1,066. Why would the larger vehicle cost less to insure? 

Larger vehicles are often safer than smaller ones, impacting the cost of insurance. Many other factors can also affect the price of a car insurance premium. Most people know their gender, age, driving history and location will affect the cost of a policy, but most insurance companies also consider the following:

  • Credit Score: Many insurance companies take your credit score into account when determining your rate. In general, a lower credit score mean higher insurance premiums.
  • Safety Rating: A vehicle with a high safety rating will cost less to insure than a vehicle with a poor safety rating, as the insurance company will be less likely to have to pay for medical bills after a crash in a safer truck.
  • Age of the Car: As vehicles age, they significantly depreciate in value. An older car is more likely to be totaled in an accident. This is because the cost of significant repairs needed for an older car can often be higher than the vehicle’s entire worth. Therefore, it is likely that the owner would simply discard the vehicle and replace it, rather than paying for repairs, increasing the cost of insurance.
  • Likelihood of Theft: Some cars are more attractive to thieves than others, and a car model that hits the top 10 most stolen list is likely to have higher rates than one that’s not a likely target. But if you have a car alarm or other anti-theft features, this can help lower the premium.

What Influences Insurance Costs for Trucks?

The rate you may pay for Chevrolet Colorado insurance can vary significantly from state averages. If this is your first truck, you may be surprised to learn that larger vehicles cost less to insure than smaller cars. 

That is because larger vehicles generally keep occupants safer than smaller vehicles. Also, trucks tend to be cheaper to repair than cars following an accident, since half or more of a truck's body is the bed, which is made of nothing more than sheet metal.  

If you have a claim-free driving history, you could pay less than the state average. Also, if you choose the extended cab version of the Colorado, you could pay lower premiums, as the larger vehicle, with its 300 horse power engine, makes it safer. 

Because the Colorado received a 4- or 5-star rating for nearly every safety feature, the costs to insure this truck are less than many other models.

Chevy Colorado Auto Theft and Safety Ratings

Purchasing a vehicle with high safety test marks can not only help save your life in the event of a crash, but it can also lead to savings on your car insurance premium. Insurance companies like safe vehicles because they keep drivers and their passengers safer while keeping the cost of claims low.

Not all of the crash test data for the 2016 Chevy Colorado is in yet, but ratings for previous models can be used to estimate the performance of the newest version. 

The overall safety evaluation given to the crew cab Colorado is "Good," which is the highest rating given by the Insurance Institute for Highway Safety.

It should be noted that the safety tests were conducted on the crew cab Colorado equipped with the optional safety package that includes the forward collision alert feature. 

This optional function can not only give drivers more time to prepare for a crash, but equipping your truck with it can also reduce your car insurance rates.

Another factor that can affect your insurance rates is the risk of theft to your particular vehicle. According to the National Insurance Crime Bureau, Chevy full-size pickups are the vehicles that are fourth most likely to be stolen in the U.S. 

Technically, the Colorado is considered a mid-size pickup, but some insurance companies may base your rates on those crime statistics anyhow.

Urban areas are more prone to auto theft than rural areas, so your location in relation to how many vehicles are stolen in the area will also affect your rates. According to the FBI, a vehicle is stolen every 43 seconds. You can protect yourself against this risk by:

  • Choosing off-street parking whenever available.
  • Never leaving valuables in sight.
  • Always keeping the doors locked and never storing a spare key inside.
  • Installing anti-theft devices such as kill switches, GPS tracking and other theft alert systems.

Following these tips can not only prevent your vehicle from being stolen, it can also help keep your Chevrolet Colorado insurance rates lower. If your car is stolen, it's important to contact your insurance agent soon as possible -- right after calling the police. 

Hopefully, you opted for comprehensive coverage for your Colorado, as a liability-only policy won't help in the event of theft.

Price for Chevrolet Colorado Vehicle Repairs

Any vehicle owner knows the cost of repairs can be a deciding factor in which car or truck to purchase. Those interested in the Chevrolet Colorado may be pleased to learn this model can be in and out of the shop for less than the national average for three of the top five most common repairs. 

Only the ignition coil and airflow sensor are more expensive on average, but even then the price only fluctuates by a few dollars. 

You know your ignition coil is about to go when the Colorado's engine begins to run roughly or you notice a lack of power upon acceleration. The Check Engine Light will often flash when the engine is misfiring. 

Continuing to drive under these conditions can damage the catalytic converter, which is another common repair for the Colorado. That's why it's important to regularly maintain your vehicle and repair any problems as soon as possible. 

A $400 ignition coil replacement is less expensive than allowing the problem to cause a $1,000 catalytic converter replacement.

A vehicle that is more costly to repair, like some imported autos, is more costly to insure. The costs to repair a Chevrolet Colorado are pretty average, so your insurance premiums will not be affected much by this factor.

Where to Find Car Insurance for the Chevy Colorado

If the Colorado is the right vehicle for you, it is important to find the right insurance agent to help you get the proper amount of insurance coverage. Knowledgeable, independent agents with Trusted Choice are always available to answer any questions you may have about your Chevrolet Colorado insurance options. 

These experienced agents can locate you a variety of quotes from a number of different insurance companies, enabling you to choose a policy with the best coverage at the most affordable rates. Contact a Trusted Choice agent today to find out how you can protect your truck.

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