Pretty sure you bought an expensive insurance policy? You’re in good company because there are lots of people in the same boat.
Astonishng but true according to a recent study, nearly 70% of consumers have purchased from the same company for more than four years, and roughly 40% of drivers have never compared rate quotes at all. American drivers could cut their rates by $860 a year just by shopping around, but they just don’t understand how easy it is to do a rate comparison.
Many car insurance companies compete for your insurance dollar, and because of this it can be hard to compare insurance companies to get the best price available on Dodge Magnum insurance in Denver.
It’s smart to do rate comparisons at least once a year because insurance prices are adjusted regularly by insurance companies. If you had the lowest quotes on Dodge Magnum insurance in Denver on your last policy the chances are good that you can find a lower rate today. Ignore everything you know about insurance because we’re going to show you the best methods to lower your annual insurance bill.
If you already have coverage, you will be able to find the best rates using the techniques covered below. Locating the most cost-effective car insurance policy in Denver can be easy if you know a few tricks. But Colorado drivers must know how companies calculate your policy premium because it can help you find the best coverage.
Dodge Magnum Insurance Premiums Can Be Lower
It’s important that you understand some of the factors that go into determining the price you pay for car insurance. If you know what influences your rates, this enables you to make decisions that may reward you with better car insurance rates.
The following are some of the major factors that factor into rates.
Better credit means lower costs – A driver’s credit history will be a significant factor in determining what you pay. Insureds with excellent credit tend to file fewer claims and have better driving records than those with lower ratings. So if your credit rating could use some work, you could be paying less to insure your Dodge Magnum if you clean up your credit.
Reduce premiums by driving safer cars – Vehicles that have high safety ratings get lower rates. These vehicles result in less severe injuries and reduced instances of injuries means less claims paid which can result in lower premiums. If your Dodge Magnum is rated at least four stars on Safercar.gov it may cost less to insure.
Lower rates by increasing coverage deductibles – Insurance for physical damage to your car, aka comp and collision, is used to repair damage to your vehicle. Some examples of claims that would be covered are a broken side mirror, collision with an animal, and having your car stolen. The deductibles you choose define how much you are required to spend out-of-pocket if a covered claim is submitted. The larger the amount you’re willing to pay, the less your company will charge you for insurance.
Cheaper to insure gals? – Over the last 50 years, statistics have shown women are more cautious behind the wheel. However, don’t assume that women are BETTER drivers than men. Women and men tend to get into at-fault accidents in similar numbers, but the males tend to have higher claims. Not only are claims higher, but men have more aggressive citations like DWI (DUI) or reckless driving.
Insurance rates and vehicle performance – The performance level of the car or truck you need insurance for makes a huge difference in how high your rates are. Since the Dodge Magnum falls in the passenger car class, insuring your vehicle will cost similar in price or lower than the average rate where you live in Denver. The lowest performance passenger cars receive the most favorable rates, but your final cost has many other factors.
Add-on coverages push up premiums – Policies have extra add-on coverages that can add up but may not be useful. Coverages like roadside assistance, accident forgiveness, and motor club memberships are some examples. These may sound like a good investment at first, but if you don’t need them remove them and pocket the money.
The method we recommend to compare rate quotes for Dodge Magnum insurance in Denver is to understand most of the larger companies pay for the opportunity to compare their rates. To start a quote, the only thing you need to do is give them rating details like whether you are married, how old drivers are, if the car is leased, and which vehicles you own. Your details is instantly submitted to multiple different insurance companies and they provide comparison quotes within a short period of time.
To compare rates for your Dodge Magnum now, click here then complete the form.
The companies in the list below are our best choices to provide price quotes in Denver, CO. If several companies are displayed, it’s a good idea that you visit several of them to find the most affordable car insurance rates.
Auto insurance is not optional
Even though Denver Magnum insurance rates can get expensive, buying auto insurance is required by state law in Colorado and it also provides benefits you may not be aware of.
- Most states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability insurance 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 Magnum, more than likely the lender will require you to have full coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Dodge at a much higher rate and force you to pay for the much more expensive policy.
- Insurance protects both your car and your personal assets. It will also cover medical expenses for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, will also pay to defend you in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of buying auto insurance outweigh the cost, especially for larger claims. According to a 2015 survey, the average American driver overpays as much as $865 each year so you should quote your policy with other companies each time the policy renews to help ensure money is not being wasted.
Do you qualify for discounts?
Car insurance is not cheap, but you can get discounts to help bring down the price. A few discounts will automatically apply at the time of purchase, but less common discounts must be requested specifically before you will receive the discount. If you are not receiving all the discounts you deserve, you’re paying more than you need to.
- Discount for New Cars – Insuring a vehicle that is new can get you a discount because newer vehicles have to meet stringent safety requirements.
- More Vehicles More Savings – Buying a policy with primary and secondary vehicles on one policy may reduce the rate for each vehicle.
- Seat Belts Save – Requiring all passengers to buckle up before driving can save 10% or more off the medical payments premium.
- Safety Course Discount – Participating in a driver safety course could save 5% or more if your company offers it.
- Auto/Life Discount – Not all insurance companies offer life insurance, but some may give you a lower price if you buy auto and life insurance together.
As a sidenote, most discount credits are not given to your bottom line cost. Some only reduce individual premiums such as physical damage coverage or medical payments. Despite the fact that it seems like all those discounts means the company will pay you, you aren’t that lucky.
Some of the larger companies that may offer policyholders these discounts are:
If you need low cost Denver car insurance quotes, ask each insurance company how many discounts you can get. Some of the discounts discussed earlier may not apply to policies everywhere.
Neighborhood agents and insurance
Some people prefer to buy from a local agent and that is just fine! The best thing about getting free rate quotes online is that you can obtain lower premium rates and still have an agent to talk to.
After completing this quick form, your insurance coverage information is sent to agents in your area that can provide free Denver car insurance quotes for your insurance coverage. You won’t need to find an agent as quotes are delivered instantly to you. You can find lower rates and an insurance agent to talk to. If you wish to get a comparison quote from a specific company, just search and find their rate quote page and complete a quote there.
Picking the best company requires you to look at more than just the bottom line cost. These questions are important to ask:
- How many companies do they write for?
- Does their agency support local causes in Denver?
- Is auto insurance their primary focus in Denver?
- Do they carry Errors and Omissions coverage?
- In the event of vehicle damage, can you pick the collision repair facility?
- How many years of experience in personal auto insurance do they have?
Two different types of auto insurance agents
If you want to buy insurance from a good Denver insurance agent, you need to know there are two different types of agencies to choose from. Agencies in Denver are either independent (non-exclusive) or exclusive.
Exclusive Insurance Agencies
Agents in the exclusive channel have only one company to place business with and examples are AAA, State Farm, Farmers Insurance, and Allstate. They usually cannot compare other company’s rates so keep that in mind. Exclusive agents are trained well on what they offer which aids in selling service over price.
The following is a short list of exclusive agents in Denver that can give you rate quotes.
Independent Agencies or Brokers
These type of agents can sell policies from many different companies and that is an advantage because they can write policies through lots of different companies enabling the ability to shop coverage around. If they find a cheaper price, the business is moved internally and you don’t have to switch agencies.
When comparing rates, you should always compare prices from at least one independent agent in order to have the best price comparison.
The following is a list of independent agents in Denver that are able to give rate quotes.
Once you have received good feedback to these questions in addition to an acceptable price estimate, you’ve probably found a car insurance agent that meets the criteria to insure your vehicles. But keep in mind you can terminate your policy at any time so don’t feel you’re contractually obligated to any specific company for the full policy term.
Do I need special coverages?
When quoting and comparing insurance from an agent or online, there really isn’t a perfect coverage plan. Every insured’s situation is different.
Here are some questions about coverages that might help in determining if your situation would benefit from professional advice.
- What are the best liability limits?
- Am I better off with higher deductibles on my Dodge Magnum?
- How much liability coverage do I need in Colorado?
- Should I buy more coverage than the required Colorado minimum liability coverage?
- Should I buy full coverage?
- Am I covered when driving on a suspended license?
- Is pet coverage available?
- Why does it cost so much to insure a teen driver in Denver?
- What is glass protection for?
- Am I covered if I hit a deer?
If it’s difficult to answer those questions but you know they apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, complete this form.
Quote more and you will save more
Cheap Dodge Magnum insurance in Denver is definitely available on the web and from local agencies, so you should compare both to have the best chance of lowering rates. Some insurance providers may not offer rates over the internet and these small insurance companies only sell through independent agents.
Consumers change insurance companies for many reasons like policy non-renewal, delays in responding to claim requests, unfair underwriting practices and being labeled a high risk driver. No matter why you want to switch, choosing a new company is less work than it seems.
When shopping online for car insurance, make sure you don’t reduce coverage to reduce premium. Too many times, drivers have reduced liability limits or collision coverage only to regret at claim time that it was a big mistake. The proper strategy is to buy enough coverage at a price you can afford, but do not sacrifice coverage to save money.
Additional car insurance information is available on the following sites:
- Prom Night Tips for Teen Drivers (State Farm)
- Who Has Cheap Auto Insurance Quotes for a Nissan Rogue in Denver? (FAQ)
- Who Has the Cheapest Denver Auto Insurance Quotes for Teenage Males? (FAQ)
- How Much are Denver Car Insurance Quotes for a Toyota Highlander? (FAQ)
- What Insurance is Cheapest for a Nissan Altima in Denver? (FAQ)
- Who Has Affordable Denver Auto Insurance Rates for High School Students? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Hyundai Santa Fe in Denver? (FAQ)
- Collision Coverage (Liberty Mutual)
- Rental Reimbursement Coverage (Allstate)
- Get the Right Protection (InsureUonline.org)
- Speed and Speed Limit FAQ (iihs.org)