If you are new to online car insurance, by this point your are probably confused due to the large number local agents and online companies all claiming to save you money.
A recent car insurance study revealed that a large majority of drivers in Colorado have stayed with the same insurance company for more than four years, and 38% of customers have never compared car insurance rates at all. The average driver in America could save $860 each year just by comparing rates, but they just don't understand the benefits if they swap their current policy for a cheaper one.
It's smart to quote other rates quite often because car insurance rates tend to go up over time. Just because you found the best premium rates on Honda Accord insurance in Denver a couple years back you will most likely find a better price today. Don't believe everything you read about Accord insurance online but in this article, you're going to get some solid techniques on how to buy car insurance cheaper in Denver.
Get affordable rates on Honda Accord insurance in Denver with these discounts
Some companies don't always advertise every discount in a way that's easy to find, so we break down a few of the more well known as well as some of the hidden ways to save on car insurance.
- Good Student Discount - Excelling in school can be rewarded with saving of up to 25%. You can use this discount normally up to age 25.
- Resident Student - Older children who attend college more than 100 miles from Denver and won't have access to an insured vehicle may qualify for this discount.
- Discount for Low Mileage - Driving fewer miles could qualify for lower premium rates due to less chance of an accident.
- More Vehicles More Savings - Having more than one vehicle on a single policy could earn a price break for each car.
- Waiver for an Accident - Not really a discount, but some insurance companies will turn a blind eye to one accident before hitting you with a surcharge as long as you don't have any claims for a certain period of time.
Discounts save money, but please remember that most discounts do not apply to the whole policy. Most only reduce the price of certain insurance coverages like medical payments or collision. Just because it seems like all those discounts means the company will pay you, you aren't that lucky.
A partial list of companies that have some of the above discounts possibly include:
Before buying, ask every company which discounts you may be entitled to. Some of the discounts discussed earlier might not be available to policyholders in every state. To choose companies with the best discounts in Denver, click this link.
Affordable Denver Honda Accord insurance price quotes
When looking for inexpensive Denver car insurance quotes, there are a couple ways of comparing rates from different Denver insurance companies. The fastest way to find affordable insurance rates is to perform an online rate comparison.
When price shopping your coverage, comparing more rates from different companies helps you find lower pricing.
The providers in the list below have been selected to offer comparison quotes in Denver, CO. If multiple providers are shown, we recommend you compare several of them to get the most competitive price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$126||$232||$338||$20||$102||$818||$68|
|Accord LX 4-Dr Sedan||$226||$462||$338||$20||$102||$1,148||$96|
|Accord EX 4-Dr Sedan||$132||$218||$308||$18||$92||$768||$64|
|Accord LX-P 4-Dr Sedan||$256||$440||$304||$18||$92||$1,110||$93|
|Accord LX-P 4-Dr Sedan||$204||$388||$338||$20||$102||$1,052||$88|
|Accord EX-L 4-Dr Sedan||$232||$454||$280||$16||$84||$1,066||$89|
|Accord EX 2-Dr Coupe||$186||$416||$536||$32||$160||$1,330||$111|
|Accord LX-S 2-Dr Coupe||$220||$434||$396||$24||$118||$1,192||$99|
|Accord EX-L 2-Dr Coupe||$264||$528||$448||$26||$134||$1,400||$117|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Rates do not factor in your specific Denver location which can decrease or increase rates considerably.
Car insurance rates are higher with tickets and accidents
The illustration below illustrates how traffic citations and at-fault accidents can affect Honda Accord insurance costs for different age categories. The price estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.
Do you need full coverage?
The chart below illustrates the difference between Honda Accord annual premium costs with liability coverage only compared to full coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, single female driver, and no policy discounts are applied.
When to stop buying comprehensive and collision coverage
There is no definitive rule for excluding physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let's say your Honda Accord replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,000 after paying the physical damage deductible. If you are paying over $400 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some scenarios where removing full coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not drop full coverage.
Policy deductible comparison
The example below demonstrates how deductibles and can change Honda Accord insurance premiums for each different age group. The price estimates are based on a married male driver, full coverage, and no discounts are applied to the premium.
What Impacts Honda Accord Insurance Premiums?
Part of the car insurance buying process is learning some of the factors that play a part in calculating car insurance rates. If you know what determines premiums, this allows you to make good choices that may result in cheaper rates.
The factors shown below are a few of the "ingredients" car insurance companies consider when setting your prices.
Fast cars cost more to insure - The make and model of the car, truck or SUV you are buying insurance for makes a substantial difference in your car insurance bill. Because the Honda Accord is classified as a passenger car, insurance will be similar in price or lower as compared to the average rate in Denver. Low performance passenger vehicles normally have pretty low rates, but the cost you end up paying is determined by many additional factors.
Combine policies and save money - Some companies apply better rates to policyholders who have multiple policies with them in the form of a multi-policy discount. Even if you qualify for this discount already, it's in your best interest to compare other Denver Accord insurance rates to help guarantee you have the best rates.
Don't buy add-on coverages that may not be needed - Insurance policies have a lot of additional extra coverages that you can get tricked into buying on your Accord policy. Coverage for things like replacement cost coverage, accidental death, and extra equipment coverage may be wasting your money. They may seem good when you first buy your policy, but if you have no use for them consider taking them off your policy.
Premiums are high for teenagers - Young drivers in Colorado are proven to get distracted easily when at the wheel of a vehicle so they pay higher car insurance rates. Having to add a teen driver onto your car insurance will cause a huge premium hike. More experienced drivers are more responsible, statistically cause fewer accidents, and receive fewer citations.
Your vocation is a factor - Did you know your career choice can influence rates? Occupational choices like doctors, airline pilots, and emergency personnel generally have higher premium rates in part from stressful work requirements and lengthy work days. Other jobs like farmers, engineers and performers generally pay rates lower than average.
More traffic equals higher rates - Residing in a rural area is a positive aspect when shopping for auto insurance. Residents of big cities tend to have much more traffic and much longer commute distances. Less people means reduced accidents in addition to fewer liability claims.
Cheap prices for being claim-free - If you tend to file frequent claims, you can pretty much guarantee either higher rates or even cancellation. Companies in Colorado give the best rates to policyholders who are claim-free. Auto insurance is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.
Honda Accord statistical loss data - Companies analyze historical claim data to determine a price that will be profitable for them. Vehicles that are shown to have higher losses will have a higher premium rate. The information below illustrates the compiled insurance loss statistics for Honda Accord vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles averaged together is set at 100. Values under 100 indicate better than average losses, while values that are above 100 indicate a higher chance of having a claim or a tendency for losses to be larger than average.
Car Insurance Loss Data for Honda Accord Models
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda Accord Hybrid||96||80||98||89||76||84|
|Honda Accord Crosstour 4dr 2WD||85||97||83||122||113||94|
|Honda Accord Crosstour 4dr 4WD||99||102||94||120||93|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Auto insurance quotes from local Denver insurance agents
Many people just prefer to buy from a licensed agent and that is not a bad decision The best thing about getting free rate quotes online is the fact that you can find cheap auto insurance quotes and also buy local.
After completing this simple form, the coverage information is immediately sent to companies in Denver that provide free Denver car insurance quotes for your auto insurance coverage. It simplifies rate comparisons since you won't have to visit any agencies because prices are sent immediately to you. Get lower rates without a big time investment. If you need to compare prices from a specific insurance company, you would need to find their quoting web page and fill out their quote form.
Picking an provider needs to be determined by more than just the premium amount. The following questions are important to ask.
- How will an accident affect your rates?
- Do they get extra compensation for selling add-on coverages?
- Does the agency have a good rating with the Better Business Bureau?
- Will you work with the agent or an assistant?
- How would your car be valued if totalled?
Shown below are Denver insurance companies that can give you rate quotes for Honda Accord insurance in Denver.
- Val Laskowski - State Farm Insurance Agent
5353 W Dartmouth Ave #410 - Denver, CO 80227 - (303) 987-8849 - View Map
- Gonzalez Insurance Agency
6450 E Colfax Ave - Denver, CO 80220 - (303) 320-4901 - View Map
- Premier Group Insurance
1777 W 38th Ave #102 - Denver, CO 80211 - (303) 477-0505 - View Map
- Austin Domsch - State Farm Insurance Agent
400 S Colorado Blvd #890 - Denver, CO 80246 - (303) 321-0895 - View Map
Three reasons to insure your Honda Accord
Despite the fact that car insurance is not cheap in Denver, buying car insurance serves several important purposes.
- Almost all states have mandatory liability insurance requirements which means it is punishable by state law to not carry 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 bought your Honda with a loan, almost all lenders will stipulate that you carry insurance to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender will be forced to insure your Honda at a much higher rate and require you to pay the higher price.
- Car insurance preserves both your assets and your Honda Accord. Insurance will also pay for medical transport and hospital expenses that are the result of an accident. One policy coverage, liability insurance, will also pay attorney fees if you are sued as the result of an accident. If damage is caused by hail or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car are definitely more than the cost, particularly when you have a large claim. The average driver in America is wasting up to $700 annually so you should quote your policy with other companies at every renewal to save money.
Smart consumers save more
As you prepare to switch companies, you should never skimp on coverage in order to save money. There are a lot of situations where an accident victim reduced uninsured motorist or liability limits only to regret at claim time that the savings was not a smart move. Your strategy should be to purchase a proper amount of coverage at the lowest possible cost but still have enough coverage for asset protection.
Some companies do not provide price quotes online and most of the time these regional carriers sell through independent agents. Lower-priced Honda Accord insurance in Denver can be sourced both online and from local insurance agents, and you should compare rates from both to get a complete price analysis.
Consumers leave their current company for a number of reasons such as an unsatisfactory settlement offer, delays in responding to claim requests, delays in paying claims and even denial of a claim. Regardless of your reason for switching companies, finding a new insurance company can be easier than you think.
Much more information about insurance in Colorado is located on the following sites:
- Tools for Teen Driving Safety (State Farm)
- Who Has the Cheapest Auto Insurance Rates After a Speeding Ticket in Denver? (FAQ)
- How Much are Auto Insurance Rates for Drivers with Bad Credit in Denver? (FAQ)
- What Insurance is Cheapest for a Nissan Altima in Denver? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Drunk Driving Statistics (Insurance Information Institute)
- Property Damage Coverage (Liberty Mutual)