Want to save money and find lower-priced Tesla Model 3 insurance in Denver? Wish you could get a refund on high-priced Tesla Model 3 insurance in Denver? Believe me when I say there are many Denver consumers feeling the pinch from expensive car insurance.
Unbelievable but true according to a study the vast majority of car insurance customers kept their policy with the same company for more than four years, and almost 40% of drivers have never compared car insurance rates at all. Colorado consumers can cut their rates by 35% a year by just comparing rate quotes, but they feel it’s too difficult to compare rate quotes online.
Online insurance companies like State Farm, Progressive and GEICO continually bombard you with ads and it is difficult to see past the corporate glitz and do the work needed to find the best deal.
Consumers should take time to price shop coverage as often as possible because prices fluctuate regularly. Just because you found the best deal on Tesla Model 3 insurance in Denver on your last policy there is a good chance you can find better premium rates now. Ignore everything you know about car insurance because you’re going to learn the right way to save on car insurance.
If you are insured now, you will be able to buy cheaper insurance using these methods. Choosing the best insurance company for you in Denver can be made easier if you know where to look. Nevertheless, Colorado vehicle owners should learn how big insurance companies price online insurance because it varies considerably.
When shopping for Tesla Model 3 insurance in Denver there are multiple ways to compare quotes from many different Colorado insurance companies. The recommended way to compare insurance prices consists of shopping online.
Doing online quotes comparisons is so easy that it takes the place of having to drive around to local insurance agencies. The ability to buy insurance online makes this unnecessary unless you prefer the personal advice only provided by licensed agents. Although you can find lower rates online but have a local agent actually write the policy. It’s important to know that comparing more prices helps you find a better price.
The providers in the list below are our best choices to provide comparison quotes in Colorado. If the list has multiple companies, we suggest you visit two to three different companies to get the lowest price.
Discounts for cheap insurance rates
Insurance is easily one of your largest bills, but there may be some discounts that may help make it more affordable. Most are applied at the time of purchase, but once in a while a discount must be specifically requested before being credited.
- Life Insurance – Not all insurance companies offer life insurance, but some may give you a discount if you purchase some life insurance too.
- Government Employee Discount – Federal government employees may reduce rates when you quote Denver auto insurance depending on your company.
- Own a Home – Just being a homeowner can save a few bucks because maintaining a house requires personal responsibility.
- Multiple Policy Discount – When you combine your auto and homeowners insurance and insure them with the same company you could save 10% to 20% off each policy.
- Save with a New Car – Insuring a new Model 3 can save you some money because new vehicles have to meet stringent safety requirements.
- Telematics Data Discounts – Policyholders that allow their insurance company to scrutinize driving manner through the use of a telematics system such as Progressive’s Snapshot might see lower rates as long as they are good drivers.
- Senior Citizen Rates – If you’re over the age of 55, you may receive lower premium rates.
- Clubs and Organizations – Being a member of a qualifying organization may earn a discount on your next insurance statement.
- Drivers Ed for Students – Have your child complete a driver education course in school.
Don’t be surprised that most discounts do not apply to the overall cost of the policy. Most only cut individual premiums such as collision or personal injury protection. Even though the math looks like having all the discounts means you get insurance for free, that’s just not realistic.
Car insurance companies who might offer these discounts include:
When getting free Denver auto insurance quotes, it’s a good idea to all the companies which discounts they offer. Depending on the company, some discounts may not be offered in Denver. If you would like to view providers with the best Tesla Model 3 insurance discounts in Denver, click here.
Insurance agents can find coverage gaps
Some people still like to have an agent’s advice and often times that is recommended The biggest benefit of getting online price quotes is that you can find the best rates and still have an agent to talk to.
To find an agent, once you fill out this simple form, the coverage information is immediately sent to local insurance agents that give free quotes and help you find cheaper coverage. You never need to search for any insurance agencies because quoted prices will be sent to you. You can find better rates and a licensed agent to talk to. If for some reason you want to get a comparison quote from one company in particular, you just need to jump over to their website and submit a quote form there.
Picking an insurer should include more criteria than just a cheap quote. The answers to these questions are important, too.
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- What are their preferred companies if they are an independent agency?
- Do they offer claims assistance after hours?
- What companies can they write with?
- Will a damage claim use OEM or aftermarket replacement parts?
- Is the quote a firm price?
Do you need an independent or exclusive car insurance agent?
When searching for a reliable insurance agent, there are a couple of different types of agencies and how they can write your policy. Agents can be categorized as either independent or exclusive depending on the company they work for.
Exclusive Insurance Agencies
These agents can usually just insure with one company such as State Farm, AAA, Farmers Insurance or Allstate. These agents are unable to place coverage with different providers so you need to shop around if the rates are high. Exclusive insurance agents are well schooled on their company’s products which can be an advantage.
Listed below are exclusive agents in Denver who can help you get price quotes.
Independent Insurance Agents
Independent agents are normally appointed by many insurers and that enables them to quote your coverage with an assortment of companies and find the cheapest rate. If you are not satisfied with one company, they simply move the coverage in-house and you won’t have to switch agencies.
If you need lower rates, you definitely need to check rates from several independent agencies in order to have the best price comparison.
Shown below is a short list of independent insurance agencies in Denver that are able to give price quote information.
Once you have good feedback to these questions and cheap Model 3 insurance quotes, you have narrowed it down to a car insurance agent that is reliable enough to adequately provide insurance.
How Insurance Companies Determine Tesla Model 3 Insurance Prices
Many different elements are taken into consideration when you get a price on insurance. Some factors are common sense such as traffic violations, but other factors are more obscure such as your credit history or how safe your car is.
The itemized list below are most of the major factors used by companies to determine your prices.
- Claims cost money – If you tend to file frequent claims, you should expect higher premiums or even policy non-renewal. Companies in Colorado award most affordable rates to people who are not frequent claim filers. Your car insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Avoid tickets and save – Your driving citation history can have a huge impact on auto insurance premiums. Only having one speeding ticket or other violation may cause rates to rise by as much as thirty percent. Careful drivers have lower premiums as compared to careless drivers. Drivers who have gotten flagrant violations like DUI or willful reckless driving are required to file a proof of financial responsibility form (SR-22) with their state in order to legally drive.
- Poor credit decisions can cost you – Having a bad credit score is a big factor in calculating your premium rate. People that have very good credit scores tend to be better risks to insure than drivers with poor credit scores. Therefore, if your credit is low, you could potentially save money when insuring your Tesla Model 3 by spending a little time repairing your credit.
- Policy add-ons add up – There are many add-on coverages that may not really be needed if you aren’t diligent. Things like coverage for rental cars, death and dismemberment, and extra life insurance coverage may be wasting your money. These coverages may sound good when talking to your agent, but if you have no use for them think about removing them and cutting costs.
- Cheaper premiums with safer cars – Vehicles that have high safety ratings get lower rates. Highly rated vehicles reduce occupant injuries and fewer injuries means your insurance company pays less and lower rates for you.
- Never go without insurance – Driving with no insurance is a misdemeanor and your next policy will cost more because you let your coverage have a gap. In addition to paying higher premiums, getting caught without coverage may result in a fine, jail time, or a revoked license. You could then be forced to submit proof of financial responsibility or a SR-22 with the Colorado DMV.
- Consider raising physical damage deductibles – Physical damage deductibles define the amount you are willing to pay before a claim is paid by your company. Protection for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your car. Examples of covered claims could be a windshield broken by a bird, collision with a deer, and having a roll-over accident. The more of the claim the insured has to pay upfront, the better rate you will receive.
Three reasons to not skimp on auto insurance
Even though it can be expensive, maintaining insurance is mandatory in Colorado but it also protects more than you think.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability 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 vehicle has a lien holder, more than likely the lender will make it a condition of the loan that you have insurance to guarantee their interest in the vehicle. If you default on your policy, the bank or lender will purchase a policy for your Tesla at a significantly higher premium and force you to reimburse them the higher price.
- Auto insurance preserves both your Tesla Model 3 and your assets. It will also provide coverage for medical transport and hospital expenses that are the result of an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are sued as the result of your driving. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to repair the damage.
The benefits of carrying enough insurance definitely exceed the price paid, especially when you need to use it. According to a recent study, the average American driver is overpaying more than $855 a year so compare rate quotes every year to be sure current rates are still competitive.
Persistence is the key to cheap rates
As you restructure your insurance plan, it’s a bad idea to reduce coverage to reduce premium. In many cases, consumers will sacrifice comprehensive coverage or liability limits to discover at claim time they didn’t have enough coverage. Your focus should be to buy enough coverage at a price you can afford while still protecting your assets.
Throughout this article, we presented some good ideas how to lower your Tesla Model 3 insurance premium rates in Denver. The key thing to remember is the more times you quote, the better your comparison will be. You may even be surprised to find that the lowest premium rates come from a lesser-known regional company. These smaller insurers may only write in your state and offer lower prices as compared to the big name companies such as State Farm, GEICO and Nationwide.
Low-cost Tesla Model 3 insurance in Denver is definitely available online and from local agencies, and you should compare price quotes from both to have the best selection. Some companies may not offer the ability to get quotes online and usually these regional insurance providers work with independent agencies.
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- How Much is Auto Insurance for Uber Drivers in Denver? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Safety Features for Your New Car (State Farm)
- Your Car has been Stolen: Now What? (Allstate)
- Safe Vehicles for Teens (iihs.org)