Nobody that owns a car looks forward to paying for car insurance, particularly when the prices are way too high.
Unbelievable but true according to a study the vast majority of consumers in Colorado renewed their policy with the same company for four years or more, and approximately 38% of consumers have never shopped around. Most drivers in the U.S. could cut their rates by nearly $859 a year, but they don’t know the amount of money they would save if they switch to a new company. Since vehicle owners have many choices of insurance companies, it can be impossible to locate a lower cost car insurance provider.
It is always a good idea to do price comparisons yearly because prices are rarely the same from one policy term to another. Just because you had the lowest rates on car insurance a few years ago you may be paying too much now. Don’t believe everything you read about car insurance online but you can learn the best ways to find cheap car insurance in Wheat Ridge.
Lower Your Rates with these tips
Many different elements are part of the calculation when premium rates are determined. A few of the factors are predictable such as your driving history, although others are more obscure such as your marital status or your commute time. One of the most helpful ways to save on car insurance is to to have a grasp of the factors that come into play when calculating your premiums. When you understand what impacts premium levels, this helps enable you to make changes that may reward you with better car insurance rates.
- Avoid unnecessary extra coverages – There are quite a few additional extra coverages that can add up on your policy. Coverages like rental car reimbursement, towing, and extra equipment coverage are examples of these. They may seem good at first, but if you don’t need them think about removing them and cutting costs.
- Premiums are lower the older you get – Older, more experienced drivers are viewed as being more responsible, tend to file fewer claims, and are generally more financially stable.Drivers with little experience are statistically shown to be inattentive and easily distracted in a vehicle therefore car insurance rates are much higher.
- Prevent car insurance policy lapses – Driving with no insurance can get you a ticket and you may have a hard time finding new coverage because you let your insurance expire. In addition to paying higher premiums, not being able to provide proof of insurance might get you fines and jail time. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Colorado motor vehicle department to get your license reinstated.
- Fewer miles means better premiums – The more you drive your car each year the higher the price you pay to insure it. The majority of insurers rate vehicles determined by how the vehicle is used. Autos left parked in the garage receive better premium rates than those used for commuting. Make sure your policy shows the correct usage, because it can save money.
The method we recommend to compare rate quotes is to realize all the major auto insurance companies participate in a system to quote your coverage. To start a quote, the only thing you need to do is take a few minutes to give details such as your credit rating estimate, how you use your vehicles, level of coverage desired, and how many miles driven. The rating information gets sent immediately to insurance carriers in your area and you should receive rate quotes very quickly.
If you wish to get multiple quotes for your car now, click here and complete the form.
The following companies can provide price comparisons in Wheat Ridge, CO. If multiple companies are listed, we suggest you compare several of them to find the lowest auto insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Extended Cab 4WD||$1,000||$500||$83|
|Chevrolet Malibu LS||$944||$472||$79|
|Chevrolet Silverado Crew Cab Hybrid 4WD||$934||$467||$78|
|Dodge Ram Crew Cab Sport 4WD||$1,424||$712||$119|
|Ford Escape XLS 4WD||$874||$437||$73|
|Ford F-150 XL Super Cab 2WD||$972||$486||$81|
|Ford Focus SES 4-Dr Sedan||$1,014||$507||$85|
|Ford Fusion SEL AWD 4-Dr Sedan||$1,402||$701||$117|
|Honda Accord LX 4-Dr Sedan||$788||$394||$66|
|Honda CR-V EX-L 4WD||$962||$481||$80|
|Honda Civic DX 2-Dr Coupe||$1,082||$541||$90|
|Mazda 3 I Touring 4-Dr Sedan||$982||$491||$82|
|Nissan Altima 2.5 4-Dr Sedan||$934||$467||$78|
|Toyota Camry LE||$1,220||$610||$102|
|Toyota Corolla XLE||$1,324||$662||$110|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Price estimates do not factor in garaging location in Wheat Ridge which can alter coverage rates considerably.
Liability only or full coverage
The information below visualizes the comparison of Chevrolet Malibu insurance rates with full physical damage coverage compared to only buying liability only. The rate quotes are based on a clean driving record, no claims, $250 deductibles, married male driver, and no discounts are taken into consideration.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
When to drop comp and collision
There is no definitive guideline to drop physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let’s pretend your Chevrolet Malibu claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after paying the physical damage deductible. If premium cost is more than $200 a year for physical damage coverage, then you might consider buying liability only.
There are some conditions where only buying liability is not recommended. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Rate comparison for different deductibles
One of the hardest decisions when shopping for auto insurance is how high should the physical damage deductibles be. The following tables may aid in understanding the rate difference when you buy lower versus higher deductibles. The first rate table uses a $100 physical damage deductible and the second rate table uses a $500 deductible.
Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tahoe LS 2WD||$302||$546||$352||$20||$106||$1,351||$113|
|Tahoe LS 4WD||$342||$546||$352||$20||$106||$1,391||$116|
|Tahoe LT 2WD||$342||$546||$352||$20||$106||$1,391||$116|
|Tahoe LT 4WD||$342||$546||$352||$20||$106||$1,391||$116|
|Tahoe LTZ 2WD||$342||$644||$352||$20||$106||$1,489||$124|
|Tahoe LTZ 4WD||$342||$644||$352||$20||$106||$1,489||$124|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tahoe LS 2WD||$220||$368||$352||$20||$106||$1,066||$89|
|Tahoe LS 4WD||$250||$368||$352||$20||$106||$1,096||$91|
|Tahoe LT 2WD||$250||$368||$352||$20||$106||$1,096||$91|
|Tahoe LT 4WD||$250||$368||$352||$20||$106||$1,096||$91|
|Tahoe LTZ 2WD||$250||$434||$352||$20||$106||$1,162||$97|
|Tahoe LTZ 4WD||$250||$434||$352||$20||$106||$1,162||$97|
|Get a Quote for Your Vehicle Go|
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rate information does not factor in specific location information which can raise or lower coverage rates considerably.
Based on the data above, we can derive that using a $100 deductible costs roughly $25 more each month or $300 for a full year than buying the higher $500 deductible. Since you would have to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you go more than 16 months between claims, you would save more money if you elect the higher deductible. The numbers below show the way you can make this decision for your own policy.
|Average monthly premium for $100 deductibles:||$118|
|Average monthly premium for $500 deductibles (subtract):||– $93|
|Monthly savings from raising deductible:||$25|
|Difference between deductibles ($500 – $100):||$400|
|Divide difference by monthly savings:||$400 / $25|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||16 months|
One thing to note is that a higher deductible level means you pay more out-of-pocket when you do file a claim. You need enough extra money in order to pay more to get your vehicle repaired.
Auto insurance premiums by gender
The illustration below visualizes the comparison of insurance costs for male and female drivers in Wheat Ridge. The costs are based on no claims or violations, comp and collision included, $1,000 deductibles, drivers are not married, and no discounts are applied on a Hyundai Elantra SE Touring.
Hyundai Elantra rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
Insurance is not optional but you don’t have to overpay
Despite the potentially high cost of insurance, insurance may be required and benefits you in several ways.
First, the majority of states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability insurance in order to drive the car. 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.
Second, if you took out a loan on your car, it’s most likely the lender will require you to buy full coverage to ensure they get paid if you total the vehicle. If you default on your policy, the bank may insure your vehicle at a much higher premium rate and require you to fork over the higher premium.
Third, insurance protects both your car and your assets. It also can pay for medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If you have damage to your vehicle as the result of the weather or an accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance more than offset the price you pay, particularly when you have a large claim. The average driver in America is overpaying over $865 each year so shop around every year to make sure the price is not too high.
Discounts mean cheaper rates
Insurance can be prohibitively expensive, but there are discounts available that can drop the cost substantially. Certain credits will be shown at quote time, but some may not be applied and must be specially asked for before you will receive the discount.
- Defensive Driver Discounts – Passing a defensive driving class is a good idea and can lower rates depending on where you live.
- Low Miles Discount – Maintaining low annual mileage may allow you to get cheaper prices.
- Multi-Vehicle Discounts – Buying insurance for several vehicles on the same insurance policy can get a discount for every vehicle.
- Anti-lock Brake Discount – Cars and trucks with ABS braking systems or traction control have fewer accidents so companies give up to a 10% discount.
- Discount for Life Insurance – If the company offers life insurance, you could get a break if you buy life insurance.
- Sign Online – A handful of larger companies provide a small discount for buying your policy on their website.
- Drive Safe and Save – Insureds who avoid accidents can get discounts for up to 45% lower rates than drivers with accidents.
- Early Signing – A few insurance companies give discounts for switching companies before your current expiration date. The savings is around 10%.
- College Student Discount – Youth drivers who are attending college and do not have access to a covered vehicle may qualify for this discount.
- Military Rewards – Being deployed with a military unit may qualify for rate reductions.
A quick disclaimer, most credits do not apply to your bottom line cost. Most only cut the cost of specific coverages such as comp or med pay. So when it seems like you can get free auto insurance, that’s just not realistic.
A partial list of companies that may have some of the discounts shown above include:
If you need cheaper Wheat Ridge car insurance quotes, ask all the companies which discounts you may be entitled to. A few discounts might not apply in Wheat Ridge. To locate insurance companies that have a full spectrum of discounts in Wheat Ridge, click here.
When to talk to an agent
A small number of people would rather have an agent’s advice and there is nothing wrong with that. Licensed agents are trained to spot inefficiencies and help you file claims. A nice benefit of getting free rate quotes online is that you can find better rates and still have a local agent. Buying from neighborhood agents is especially important in Wheat Ridge.
After completing this form (opens in new window), your insurance data is sent to local insurance agents who will gladly provide quotes for your insurance coverage. You don’t have to do any legwork due to the fact that quote results will go to you instantly. In the event you want to get a rate quote from a specific insurance company, just visit that company’s website and give them your coverage information.
Picking the best company requires more thought than just a cheap price quote. Some important questions to ask are:
- Do they feel the quoted coverages are adequate?
- What companies can they write with?
- If your car is totalled, how to they determine the replacement cost?
- Does the company have a local claim office in Wheat Ridge?
- How many years have they been established?
- What are the financial ratings for the companies they represent?
- Are they full-time agents?
- If they are an independent agency in Wheat Ridge, which companies do they recommend?
What is the best auto insurance coverage?
When choosing your policy, there is no one size fits all plan. Your needs are unique to you and your policy should reflect that.
These are some specific questions can help discover whether or not you would benefit from professional advice.
- Am I covered when driving someone else’s vehicle?
- Is my vehicle covered for smoke damage?
- Do I need higher collision deductibles?
- Can I rate high risk drivers on liability-only vehicles?
- What is the difference between personal and commercial auto insurance policies?
- Do I need an umbrella policy?
- Am I covered if I wreck a rental car?
- Is my custom stereo system covered?
- Is my business laptop covered if it gets stolen from my vehicle?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier It is quick, free and can provide invaluable advice.
Persistence is the key to cheap rates
We just covered many tips how you can shop for insurance online. The most important thing to understand is the more quotes you get, the higher your chance of finding low cost Wheat Ridge car insurance quotes. Drivers may even discover the best price on insurance is with a small mutual company. Some small companies may cover specific market segments cheaper as compared to the big name companies such as GEICO and State Farm.
Some insurance providers do not offer the ability to get quotes online and many times these smaller providers provide coverage only through independent insurance agencies. More affordable insurance in Wheat Ridge is definitely available from both online companies and with local Wheat Ridge insurance agents, so compare prices from both to get a complete price analysis.
While you’re price shopping online, make sure you don’t skimp on critical coverages to save a buck or two. There are a lot of situations where an insured dropped uninsured motorist or liability limits only to regret that the savings was not a smart move. The goal is to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
More tips and info about insurance can be read in these articles:
- Frontal Crash Tests (iihs.org)
- What Auto Insurance is Cheapest for Drivers with Accidents in Denver? (FAQ)
- How Much are Denver Car Insurance Quotes for a Toyota Tacoma? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Drivers Over Age 50 in Denver? (FAQ)
- How Much is Denver Auto Insurance for Government Employees? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with Good Credit in Denver? (FAQ)
- Who Has Cheap Car Insurance Quotes for Handicapped Drivers in Denver? (FAQ)
- Tread Depth and Tire Safety (State Farm)
- Auto Insurance Learning Center (State Farm)