I can’t think of anyone who gets a kick out of paying for auto insurance, especially when they are aware that the cost is way too high.
Sad but true, a large majority of auto insurance policyholders in Colorado have purchased from the same company for four years or more, and nearly the majority have never taken the time to shop around. American drivers can save hundreds of dollars each year by just comparing rate quotes, but they just don’t understand the big savings they would realize if they bought a different policy. Due to the fact that there are so many options for buying lower-cost insurance for a Kia Soul in Denver, it can be challenging to locate the most affordable auto insurance company.
It’s a good habit to price shop coverage every six months because rates are constantly changing. Despite the fact that you may have had the lowest premium rates on Kia Soul insurance in Denver at your last renewal you can probably find a better price now. Forget anything you know (or think you know) about auto insurance because you’re about to learn the best methods to find lower rates on auto insurance.
Quoting affordable policy in Denver is actually quite simple. If you are insured now or just want to save money, use these techniques to buy cheaper auto insurance while maintaining coverages. Drivers just need to learn the best way to compare prices from multiple carriers.
Low cost Denver Kia Soul insurance
The companies shown below offer free quotes in Denver, CO. If more than one company is shown, we recommend you compare several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Premium amounts do not factor in garaging location in Denver which can decrease or increase premium rates significantly.
Kia Soul liability rates compared to full coverage
The chart below visualizes the comparison of Kia Soul yearly insurance costs with full coverage compared to only the Colorado minimum liability coverage. The data assumes no claims or driving citations, $250 deductibles, married male driver, and no discounts are factored in.
Are you wasting money on full coverage?
There is no written rule to eliminate physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s say your Kia Soul book value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,000 after paying the physical damage deductible. If you are currently paying more than $600 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are some situations where buying only liability insurance is not a good plan. If you haven’t satisfied your loan, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not buy liability only.
Take advantage of these discounts on Kia Soul insurance in Denver
Buying auto insurance is not cheap, but you may find discounts that may help make it more affordable. Certain credits will be shown at quote time, but a few must be specially asked for before being credited.
- Drive Safe and Save – Drivers without accidents can pay as much as 50% less compared to accident prone drivers.
- Telematics Devices – Policyholders that allow their company to analyze where and when they drive by using a telematics device in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts as long as the data is positive.
- Discounts for Multiple Vehicles – Drivers who insure multiple cars with the same auto insurance company may reduce the rate for each vehicle.
- Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn a discount if you purchase auto and life insurance together.
- Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and can earn a small discount on your policy.
- Discounts for New Vehicles – Insuring a new Soul can save up to 30% due to better safety requirements for newer models.
Keep in mind that some credits don’t apply to all coverage premiums. A few only apply to the price of certain insurance coverages like liability and collision coverage. Even though it may seem like you could get a free auto insurance policy, companies don’t profit that way.
A few popular companies and a partial list of their discounts are detailed below.
- Progressive offers discounts including multi-policy, continuous coverage, multi-vehicle, good student, homeowner, and online signing.
- MetLife includes discounts for defensive driver, good driver, claim-free, accident-free, multi-policy, and good student.
- Mercury Insurance may have discounts that include age of vehicle, multi-car, multi-policy, anti-theft, type of vehicle, and annual mileage.
- Nationwide policyholders can earn discounts including business or organization, family plan, defensive driving, Farm Bureau membership, and easy pay.
- GEICO offers discounts for daytime running lights, military active duty, emergency military deployment, air bags, and anti-lock brakes.
- AAA may offer discounts for multi-car, anti-theft, AAA membership discount, pay-in-full, and good driver.
Before purchasing a policy, check with every company which discounts you qualify for. Discounts might not be available to policyholders in Denver. To locate insurers who offer auto insurance discounts in Colorado, follow this link.
Why insurance is not optional
Despite the high cost, maintaining insurance is required for several reasons.
- Almost all states have mandatory insurance requirements which means you are required to carry a minimum amount of liability protection in order to get the vehicle licensed. 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 you have a loan on your vehicle, almost every bank will require that you carry insurance to guarantee their interest in the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Kia for a lot more money and force you to pay much more than you were paying before.
- Insurance protects not only your car but also your financial 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 also pays for attorney fees and expenses if you cause an accident and are sued. If your car is damaged in a storm or accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of buying enough insurance greatly outweigh the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver overpays more than $830 a year so compare rates each time the policy renews to ensure rates are competitive.
Exclusive or independent insurance agencies
Many drivers still like to talk to an insurance agent and that is just fine! Insurance agents can answer important questions and will help you if you have claims. One of the benefits of comparing auto insurance online is the fact that drivers can get cheap auto insurance quotes and still buy from a local agent. Buying from and supporting neighborhood insurance agencies is important particularly in Denver.
To find an agent, once you fill out this simple form, the coverage information is emailed to insurance agents in Denver that give free quotes for your coverage. It makes it easy because there is no need to contact an agency as quotes are delivered directly to you. If you want to get a comparison quote from one company in particular, don’t hesitate to jump over to their website and fill out the quote form the provide.
Best auto insurance agent in Denver
If you are wanting to find a reliable agent, it’s important to understand the types of insurance agents and how they operate. Insurance agencies in Denver are either independent agents or exclusive agents. Either one can handle auto insurance, but it’s good to learn the subtle differences because it can impact the kind of agent you use.
Independent Insurance Agents
These type of agents do not have single company limitations and that allows them to write policies with multiple insurance companies and find you cheaper rates. If premiums increase, the business is moved internally and you don’t have to find a new agent.
If you are trying to find cheaper rates, it’s a good idea to get several quotes from at a minimum one independent agency to ensure the widest selection of prices.
Below is a short list of independent agencies in Denver that may be able to provide price quotes.
57 W Alameda Ave – Denver, CO 80223 – (303) 722-2841 – View Map
Exclusive Insurance Agents
Exclusive insurance agents can only provide one company’s prices and some examples include Farmers Insurance, Allstate, or State Farm. They are unable to compare rates from other companies so you might not find the best rates. Exclusive insurance agents are highly trained in insurance sales which helps them sell insurance even at higher premiums.
Shown below is a list of exclusive agencies in Denver willing to provide price quote information.
Caramel Russell-Rouse – State Farm Insurance Agent
999 S Monaco Pkwy #200 – Denver, CO 80224 – (303) 424-0420 – View Map
Choosing an auto insurance agent is decision based upon more than just the price. Ask your prospective agent these questions:
- Do they receive special compensation for putting your coverage with one company over another?
- Do they have any clout with companies to ensure a fair claim settlement?
- What insurance companies do they work with in Denver?
- If you raise deductibles, how much can you save?
- Do the agents have professional certifications like CPCU or CIC?