Would you like to stop overpaying and find the cheapest car insurance rates in Denver, CO? Denver buyers have options when searching for the lowest priced Toyota Prius V insurance. They can either waste time contacting agents to compare prices or leverage the internet to make rate comparisons. There are both good and bad ways to compare car insurance rates so we’re going to tell you the quickest way to quote coverages for a new or used Toyota and get the best price possible either online or from Denver insurance agents.
Remarkably, a study showed that the majority of drivers have bought car insurance from the same company for at least the last four years, and virtually 40% of consumers have never compared rate quotes at all. Most drivers in Denver could save an average of $605 each year just by getting comparison quotes, but they just feel it’s too hard to compare rate quotes online.
Consumers need to shop coverage around periodically since rates tend to go up over time. Just because you found the lowest rate on Toyota Prius V insurance in Denver two years ago you can probably find a better price now. Forget anything you know (or think you know) about car insurance because we’re going to demonstrate the fastest way to buy cheaper Toyota Prius V insurance in Denver.
If you already have coverage or need a new policy, follow these tips to cut your premiums while maintaining coverages. The purpose of this post is to introduce you to how to compare rates easily and also pocket some savings Vehicle owners just have to learn the most time-saving way to quote multiple rates online from multiple companies.
The fastest way that we advise to compare car insurance company rates for Toyota Prius V insurance in Denver is to realize most of the bigger providers allow for online access to provide you with free rate quotes. The only thing you need to do is give them some information like your occupation, driver details, whether you are married, and distance driven. That rating data is then sent to many of the top insurers and you will get price comparisons within a short period of time.
To get price quotes for your Toyota Prius V now, click here and enter your zip code.
The following companies can provide quotes in Colorado. If the list has multiple companies, we suggest you compare several of them in order to get a fair rate comparison.
Why you need car insurance
Even though it’s not necessarily cheap to insure a Toyota in Denver, car insurance is required by state law in Colorado and it also provides benefits you may not be aware of.
- Just about all states have mandatory insurance requirements which means state laws require a specific minimum amount of liability protection if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Toyota Prius V has a loan, almost every bank will force you to have physical damage coverage to ensure loan repayment if the vehicle is totalled. If coverage lapses or is canceled, the lender may insure your Toyota at a much higher rate and force you to pay for the much more expensive policy.
- Insurance safeguards not only your car but also your assets. It will also cover many types of medical costs for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If you have damage to your Toyota as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of buying enough insurance are without a doubt worth the cost, especially if you ever need it. Unknowingly, the average driver is overpaying more than $700 annually so you should quote rates at every renewal to be sure current rates are still competitive.
How do Car Insurance Companies Determine Toyota Prius V Insurance Costs?
Multiple criteria are considered when premium rates are determined. Some are pretty understandable like an MVR report, although others are less apparent like where you live and annual miles driven. The best way to find cheaper auto insurance is to take a look at some of the elements that are used to determine the price you pay for auto insurance. When consumers understand what determines premiums, this allows you to make good choices that could help you find much lower annual insurance costs.
The factors shown below are some of the major factors used by insurance companies to determine rates.
- Small coverages can add up – There are a lot of extra bells and whistles that can add up if you don’t pay attention. Coverage for things like rental car coverage, high-cost glass coverage, and extra equipment coverage may not be needed and are just wasting money. They may seem good when deciding what coverages you need, but if you don’t need them think about removing them and cutting costs.
- Employer reflects on prices – Jobs such as military generals, architects and accountants are shown to have higher rates than the rest of us attributed to stressful work requirements and long work hours. On the flip side, occupations such as farmers, athletes and retirees have the lowest average rates.
- Traffic violations drive up premiums – Getting just one speeding ticket or other violation can increase rates twenty percent or more. Careful drivers get better prices than their less careful counterparts. Drivers who have dangerous tickets such as reckless driving or DUI may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent their license from being revoked.
- Save money with higher deductibles – Comp and collision deductibles tell how much you are required to spend before a claim is paid by your company. Insurance for physical damage to your car, also known as collision and other-than-collision, covers damage that occurs to your car. Some examples of covered claims are a windshield broken by a bird, damage from fire, and damage from wind. The more the insured is willing to pay, the bigger discount you will receive.
- Marriage equates to better rates – Getting married may cut your premiums on your auto insurance policy. Having a significant other generally demonstrates drivers are more mature and it’s statistically proven that married drivers tend to have fewer serious accidents.
- Safer vehicles lower premiums – Vehicles with high crash test scores can get you lower premiums. These vehicles help reduce the chance of injuries in an accident and better occupant protection translates directly to fewer claims and thus lower rates.
- Your age impacts your costs – Older drivers have been proven to be more responsible, cost insurance companies less in claims, and get fewer tickets.Beginning drivers tend to be inattentive and easily distracted in a vehicle so they pay higher auto insurance rates.
- Bundle policies with the same company – Some insurance companies give lower prices to policyholders who buy several policies from them, otherwise known as a multi-policy discount. The discount can add up to anywhere from five to ten percent in most cases. If you currently are using one company, it’s in your best interest to get quotes from other companies to guarantee you are still saving the most. Drivers may still find a better deal by insuring with multiple companies.
- Toyota Prius V insurance loss data – Companies use past insurance losses in order to profitably underwrite each model. Vehicles that tend to have a higher amount or frequency of claims will have higher premium rates.
The next table illustrates the actual insurance loss data for Toyota Prius V vehicles. For each coverage type, the claim probability for all vehicles, regardless of make, model or trim level, is considered to be 100. Numbers under 100 suggest a positive loss record, while percentage numbers above 100 point to more losses or tendency to have larger claims.
Toyota Prius V Insurance Claim Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Prius V Hybrid 94 86 88 88 94 97 Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Discount Denver car insurance quotes
Car insurance is not an enjoyable expense, but you might be missing out on some discounts to reduce the price significantly. Certain reductions will be credited when you complete an application, but some discounts are required to be specially asked for before being credited.
- Defensive Driver – Taking a course teaching defensive driver skills could possibly earn you a 5% discount depending on where you live.
- Senior Citizen Discount – Drivers that qualify as senior citizens may qualify for reduced rates.
- Club Memberships – Being in a civic or occupational organization in Denver can get you a small discount when getting a Denver auto insurance quote.
- Sign Early and Save – A few car insurance companies allow discounts for switching companies prior to the expiration date on your current Prius V insurance policy. Ten percent is about the average savings.
- Safety Restraint Discount – Drivers who require all vehicle occupants to use a seat belt could cut 10% or more on the medical payments or PIP coverage costs.
- Low Mileage – Maintaining low annual mileage may allow you to get better prices on cars that stay parked.
- Good Student – Maintaining excellent grades can get you a discount of up to 25%. Many companies even apply the discount to college students until age 25.
- Denver Homeowners Pay Less – Being a homeowner can help you save on car insurance since home ownership requires a higher level of personal finance.
- Life Insurance Discount – Not all insurance companies offer life insurance, but some may give you lower rates if you buy a life policy as well.
- Policy Bundle Discount – When you combine your auto and home insurance and insure them both with the same insurance company you may earn nearly 15% which can help you find cheaper Prius V insurance.
As a disclaimer on discounts, most credits do not apply to the whole policy. Most only cut individual premiums such as physical damage coverage or medical payments. Even though the math looks like you could get a free car insurance policy, car insurance companies aren’t that generous.
The best car insurance companies and their offered discounts are included below.
- 21st Century may offer discounts for theft prevention, teen driver, driver training, air bags, and 55 and older.
- Progressive has discounts for continuous coverage, online signing, multi-vehicle, multi-policy, and homeowner.
- State Farm policyholders can earn discounts including defensive driving training, safe vehicle, multiple policy, multiple autos, accident-free, and driver’s education.
- Nationwide offers discounts including Farm Bureau membership, anti-theft, multi-policy, family plan, and defensive driving.
- Esurance may have discounts that include anti-theft, online quote, online shopper, multi-policy, Pac-12 alumni, homeowner, and claim free.
- The Hartford offers premium reductions for vehicle fuel type, bundle, air bag, driver training, and defensive driver.
If you need lower rates, check with all companies you are considering to give you their best rates. Savings may not apply to policyholders in Denver. To view insurers who offer cheap Toyota Prius V insurance quotes in Colorado, follow this link.
Get rate quotes but still have a local Denver insurance agent
Some people still prefer to buy from a local agent and doing so can bring peace of mind Professional insurance agents are trained risk managers and help file insurance claims. The best thing about getting online price quotes is that drivers can save money and get lower rates and still have a local agent.
For easy comparison, once you complete this short form, your coverage information is transmitted to local insurance agents that give free quotes for your business. You never need to even leave your home since price quotes are sent straight to your inbox. If you want to compare rates from a specific insurance company, just visit that company’s website and give them your coverage information.
Picking an insurance company shouldn’t rely on just the bottom line cost. The questions below may impact your decision as well.
- How much will you save each year by using a higher deductible?
- Do they reduce claim amounts on high mileage vehicles?
- Can you get a list of referrals?
- Does the quote include credit and driving reports?
- Are claim adjusters local or do you have to take your car somewhere else?
- Is the coverage adequate for your vehicle?
- How long have they worked with personal auto insurance coverage?
- Are they involved in claim handling?
Pick the best auto insurance agent in Denver for you
If you are wanting to find a reliable agent, it’s important to understand the different types of agencies that you can select. Insurance agencies are categorized either exclusive agents or independent agents. Either one can write insurance policies, but it’s a good idea to understand the difference between them since it can impact the kind of agent you use.
Exclusive Insurance Agents
Agents that choose to be exclusive are contracted to one company and examples are Farmers Insurance and State Farm. They usually cannot provide rate quotes from other companies so if the price isn’t competitive there isn’t much they can do. Exclusive agents are well trained on their company’s products which helps them sell on service rather than price. Consumers sometimes purchase coverage from exclusives primarily because of loyalty to the company rather than having low rates.
Shown below are Denver exclusive insurance agencies that can give you price quote information.
- American Family Insurance – Abbie Davis Tanner Agency Inc
2855 Speer Blvd Suite D – Denver, CO 80211 – (303) 333-0205 – View Map - Hiram Licea – State Farm Insurance Agent
3600 Morrison Rd – Denver, CO 80219 – (303) 935-7475 – View Map - Val Laskowski – State Farm Insurance Agent
5353 W Dartmouth Ave #410 – Denver, CO 80227 – (303) 987-8849 – View Map
Independent Agencies or Brokers
Agents that elect to be independent are appointed with more than one company so they can quote policies with a variety of different insurance companies enabling the ability to shop coverage around. To transfer your coverage to a different company, the agent simply finds a different carrier and you won’t have to switch agencies.
If you are comparing insurance prices, you definitely need to include price quotes from a few independent agents to get the most accurate price comparison. They often place coverage with smaller mutual companies which may provide better rates.
The following is a list of independent agents in Denver willing to provide rate quotes.
- Mile High Insurance Agency
4704 Harlan St #360 – Denver, CO 80212 – (303) 237-5445 – View Map - Madison Insurance Group
600 S Cherry St #900 – Denver, CO 80246 – (800) 636-6185 – View Map - Nationwide Insurance: Lloyd Pro Group Agency
1400 S Columbine St – Denver, CO 80210 – (970) 230-3020 – View Map
Final considerations
People who switch companies do it for a number of reasons such as delays in responding to claim requests, policy cancellation, unfair underwriting practices or lack of trust in their agent. It doesn’t matter why you want to switch choosing a new insurance company is pretty simple and you could end up saving a buck or two.
Cheap Toyota Prius V insurance in Denver is available from both online companies as well as from insurance agents, so get free Denver auto insurance quotes from both of them to have the best rate selection. Some auto insurance companies may not have the ability to get quotes online and usually these smaller providers provide coverage only through independent agents.
As you shop your coverage around, never skimp on critical coverages to save a buck or two. There have been many cases where an insured cut liability limits or collision coverage only to regret at claim time that the small savings ended up costing them much more. Your focus should be to purchase plenty of coverage for the lowest price while still protecting your assets.
Additional detailed information is located in these articles:
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Who Has Cheap Auto Insurance Quotes for a Nissan Sentra in Denver? (FAQ)
- What Car Insurance is Cheapest for a Honda Accord in Denver? (FAQ)
- How Much is Denver Car Insurance for a GMC Acadia? (FAQ)
- Who Has Cheap Auto Insurance Rates for Infrequent Drivers in Denver? (FAQ)
- All About Airbag Safety (State Farm)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)