Are you tired of not being able to scrape enough together to pay high insurance rates every month? You are no different than the majority of other drivers in Colorado.
Unimaginable but true, the vast majority of insurance customers have purchased from the same company for more than four years, and practically 40% of insurance customers have never compared rates with other companies. Denver drivers could save an average of as much as 35% each year, but they don’t know the amount of money they would save if they replace their high priced policy. With so many insurance companies to choose from, it’s difficult to choose the lowest cost insurance company.
Choosing the best rates in Denver is much easier if you know where to start. If you have a current car insurance policy, you will be able to cut your premiums using the ideas covered in this article. Smart buyers only have to learn how to get comparison quotes over the internet.
The fastest way that we advise to compare insurance rates in your area is to know most of the larger companies allow for online access to give you rate quotes. The only thing you need to do is take a few minutes to give details like whether the vehicles are used for commuting, driver ages, if it has an anti-theft system, and if you are currently licensed. That rating data is instantly sent to multiple companies and you will get price comparisons quickly.
To find the cheapest Honda CR-Z insurance rates, click here then complete the form.
The companies shown below are ready to provide price quotes in Denver, CO. If multiple companies are listed, it’s highly recommended you click on several of them in order to find the most competitive rates.
Insuring your vehicle just makes sense
Even though Denver CR-Z insurance rates can get expensive, maintaining insurance is required for several reasons.
- Almost all states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability insurance in order to be legal. 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 took out a loan on your Honda CR-Z, most banks will stipulate that you carry insurance to guarantee their interest in the vehicle. If you let the policy lapse, the lender may have to buy a policy to insure your Honda at a much higher premium rate and force you to pay for the much more expensive policy.
- Insurance protects both your car and your personal assets. Insurance will also pay for all forms of medical expenses that are the result of an accident. Liability insurance will also pay for a defense attorney if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance more than cancel out the cost, particularly for liability claims. Unknowingly, the average driver is currently overpaying as much as $810 a year so you should quote your policy with other companies at every policy renewal to be sure current rates are still competitive.
The Honda CR-Z Insurance Price Equation
Smart consumers have a good feel for some of the factors that aid in calculating auto insurance rates. If you know what impacts premium levels, this empowers consumers to make smart changes that could result in better auto insurance rates. Lots of things are considered when you get a price on insurance. Some are obvious like an MVR report, but some are less apparent such as your marital status or your vehicle rating.
The items below are a partial list of the pieces utilized by car insurance companies to help set premiums.
- Do thieves like your car? – Choosing to buy a car that has an advanced theft prevention system can get you a discount on your auto insurance. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart car theft and help bring rates down.
- Cars with good safety ratings save money – Cars with high safety ratings cost less to insure. These vehicles reduce occupant injuries and reduced instances of injuries translates into savings for insurance companies and lower rates for you. If your Honda CR-Z scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
- Rates and occupation – Did you know your auto insurance rates can be affected by your occupation? Occupations such as judges, police officers, and accountants generally have higher premiums than the average policyholder attributed to intense work requirements and lots of time spent at work. Other occupations like professors, engineers and retirees pay lower than average rates.
- You might want pay the minor claims yourself – Auto insurance companies in Colorado provide lower rates to policyholders who do not file claims often. If you are the type of insured that files lots of claims you can expect either policy cancellation or increased premiums. Your insurance policy is designed for the large, substantial claims.
- Add-on coverages are wasting money – Policies have optional add-on coverages that may not really be needed but may not be useful. Coverages for vanishing deductibles, accident forgiveness, and extra life insurance coverage may be costing you every month. These coverages may sound good when discussing your needs, but now you might not need them so think about removing them and cutting costs.
- Protect yourself with liability protection – The liability coverage on your policy will protect you when a court rules you are at fault for personal injury or accident damage. Your policy’s liability insurance provides legal defense coverage which can cost a lot. Liability insurance is quite affordable compared to insuring for physical damage coverage, so do not cut corners here.
- Get better rates if married – Your spouse may cut your premiums when buying auto insurance. Having a spouse may mean you are more stable financially and insurance companies like that drivers who are married are more cautious.
- Bundle policies and save money – Many insurance companies provide discounts to clients who buy several policies from them, otherwise known as a multi-policy discount. The discount can add up to as much as ten percent or more Even if you qualify for this discount already, you may still want to check prices from other companies to verify if the discount is saving money.
- Honda CR-Z insurance loss statistics – Companies analyze past claim statistics when setting rates for each model. Models that have higher losses will have higher rates for specific coverages.
The table below illustrates the historical loss data for Honda CR-Z vehicles. For each type of coverage, the claim probability for all vehicles averaged together is represented as 100. Numbers under 100 represent a good loss history, while numbers above 100 show a trend for more claims or an increased likelihood of larger losses.
Auto Insurance Loss Data for Honda CR-Z Models
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-Z Hybrid 106 87 83 98
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Don’t overlook these Honda CR-Z insurance discounts
Insuring your fleet can be pricey, but companies offer discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you complete an application, but some discounts are required to be manually applied before you get the savings.
- Military Discounts – Being on active duty in the military may lower your car insurance rates slightly.
- Seat Belts Save – Buckling up and requiring all passengers to buckle up before driving can save 10% or more off the medical payments premium.
- Savings for New Vehicles – Adding a new car to your policy may earn a small discount because newer models are generally safer.
- Fewer Miles Equal More Savings – Driving less could earn slightly better prices than normal.
- Student in College – College-age children who attend college more than 100 miles from Denver and do not take a car to college may be able to be covered for less.
- Life Insurance Discount – Car insurance companies who offer life insurance give a small discount if you purchase some life insurance in addition to your auto policy.
- ABS Braking Discount – Anti-lock brake equipped vehicles prevent accidents and the ABS can save up to 10%.
One thing to note about discounts is that many deductions do not apply to the entire cost. A few only apply to the price of certain insurance coverages like comprehensive or collision. Just because it seems like you could get a free car insurance policy, insurance companies wouldn’t stay in business.
A few of the larger companies and some of the discounts are shown below.
- GEICO includes discounts for emergency military deployment, daytime running lights, seat belt use, air bags, and good student.
- Auto-Owners Insurance policyholders can earn discounts including paid in full, mature driver, good student, anti-theft, and teen driver.
- American Family discounts include early bird, air bags, mySafetyValet, TimeAway discount, Steer into Savings, and good student.
- Esurance offers discounts for Pac-12 alumni, multi-car, good student, online shopper, homeowner, multi-policy, and DriveSense.
- Progressive may offer discounts for online signing, multi-vehicle, good student, continuous coverage, homeowner, and online quote discount.
- State Farm has savings for Steer Clear safe driver discount, passive restraint, Drive Safe & Save, accident-free, good student, multiple autos, and driver’s education.
- AAA may include discounts for AAA membership discount, good student, good driver, pay-in-full, and anti-theft.
Before buying, ask every prospective company to apply every possible discount. Savings may not be available everywhere. If you would like to see a list of car insurance companies that offer multiple discounts in Colorado, click here.
Car insurance can be complex
Keep in mind that when it comes to choosing coverage, there really is not a “best” method to buy coverage. You are unique.
For instance, these questions could help you determine whether your personal situation would benefit from professional advice.
- What if an uninsured driver hits me?
- Is there coverage for my trailer?
- Do I have newly-aquired coverage?
- Is my nanny covered when transporting my kids?
- I have a DUI can I still get coverage?
- What is medical payments coverage?
- Why am I required to buy high-risk coverage?
- Will filing a claim cost me more?
- Am I covered by my spouse’s policy after a separation?
- Am I covered when driving in Canada or Mexico?
If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It is quick, free and you can get the answers you need.
Auto insurance is available from local agents
A lot of people just want to sit down with an agent and we recommend doing that Licensed agents can help you build your policy and help in the event of a claim. An additional benefit of comparing auto insurance online is that you can find cheap auto insurance quotes and still have an agent to talk to.
For easy comparison, once you complete this short form, your information is emailed to local insurance agents in Denver that give free quotes for your insurance coverage. There is no reason to leave your house since price quotes are sent immediately to your email address. If you wish to quote rates from a specific company, you just need to jump over to their website and fill out the quote form the provide.
Choosing an provider is decision based upon more than just the premium amount. The following questions are important to ask.
- Do the agents have professional certifications like CPCU or CIC?
- Does the agent recommend any additional coverage?
- What insurance companies do they recommend if they are an independent agent?
- Do they receive special compensation for putting your coverage with one company over another?
- Is auto insurance their primary focus in Denver?
- What company do they have the most business with?
- Is assistance available after office hours?
- Does the company use OEM repair parts?
If you would like to find a reliable agent, there are a couple of different types of agencies and how they differ in how they can insure your vehicles. Insurance agencies in Denver are categorized either exclusive or independent (non-exclusive). Both insure your vehicles, but it’s worth mentioning the differences since it can affect your selection of an agent.
Exclusive agents can only provide pricing for a single company like State Farm, Allstate and AAA. Exclusive agents cannot provide prices from multiple companies so keep that in mind. Exclusive agents are usually quite knowledgeable on their products and sales techniques which aids in selling service over price.
Listed below are exclusive agencies in Denver who may provide you with comparison quotes.
Agents in the independent channel do not sell for just one brand so they can insure your vehicles through lots of different companies and find the cheapest rate. To move your coverage to a new company, your policy is moved internally and the insured can keep the same agent.
If you need lower rates, you absolutely need to compare quotes from independent agents in order to have the best price comparison.
Shown below are Denver independent insurance agents willing to provide price quote information.
Once you have reasonable responses for all questions you ask and cheap CR-Z insurance quotes, it’s a good possibility that you have found an auto insurance agent that meets the requirements to provide auto insurance coverage.
Quote more to save more
Insureds leave their current company for many reasons like poor customer service, questionable increases in premium, high prices or even policy non-renewal. It doesn’t matter why you want to switch finding a new insurance company is easier than you think.
When buying insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In many instances, an insured cut collision coverage to discover at claim time that it was a big mistake. Your aim should be to buy the best coverage you can find for the lowest price.
You just learned some good ideas how you can reduce Honda CR-Z insurance rates online in Denver. The key concept to understand is the more rate quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the most savings is with a small mutual company.
For more information, feel free to visit the articles below:
- Determing Auto Insurance Rates (GEICO)
- Who Has Cheap Auto Insurance Quotes for 4×4 Vehicles in Denver? (FAQ)
- Who Has Cheap Auto Insurance for College Graduates in Denver? (FAQ)
- Who Has Cheap Auto Insurance for a Ford Edge in Denver? (FAQ)
- Who Has the Cheapest Denver Car Insurance Rates for Drivers with a DUI? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Parking Tips to Reduce Door Dings (State Farm)
- Understanding Car Crashes Video (iihs.org)