Are you doing reasearch to find the cheapest Chevy Colorado insurance in Denver? Paying for high-priced Chevrolet Colorado insurance in Denver can deplete your bank account and force you to prioritize other expenses.
A recent NerdWallet.com study revealed that nearly 70% of consumers kept buying from the same company for more than four years, and just short of a majority have never compared rates with other companies. Many consumers in Denver could pocket nearly $610 a year just by shopping around, but they assume it’s a waste of time to find affordable insurance rates. Online insurance companies like Progressive, State Farm and GEICO increase brand awareness with catchy ads and it can be hard to see through the cute green geckos and mayhem and do the work needed to find the best deal.
The majority of larger companies allow consumers to get pricing on the web. Getting quotes for Chevy Colorado insurance in Denver is fairly straightforward because you just enter the amount of coverage you want into the form. After you submit the form their system collects reports for credit and driving violations and generates a price based on these factors. Getting online rates for Chevy Colorado insurance in Denver makes it a lot easier to compare rates and it’s very important to get many rate quotes if you want to find lower-cost rates.
To find out what other companies charge, compare rates now from the companies shown below. If you have a policy now, it’s recommended you replicate the coverage information identical to your current policy. Doing this assures you will receive a rate comparison for the exact same coverage.
The companies shown below are our best choices to provide price quotes in Colorado. If several companies are displayed, it’s highly recommended you visit several of them to find the cheapest auto insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$150||$278||$362||$22||$108||$920||$77|
|Colorado LT Extended Cab 2WD||$230||$448||$358||$22||$108||$1,166||$97|
|Colorado LT 4WD||$256||$440||$304||$18||$92||$1,110||$93|
|Colorado LT Crew Cab 2WD||$220||$368||$460||$28||$138||$1,214||$101|
|Colorado LT Extended Cab 4WD||$166||$236||$392||$24||$118||$936||$78|
|Colorado LT Crew Cab 4WD||$234||$448||$338||$20||$102||$1,142||$95|
|Get Your Own Custom Quote Go|
Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in specific Denver garaging location which can influence auto insurance rates substantially.
Careless Denver drivers pay higher rates
The diagram below demonstrates how speeding tickets and accidents can affect Chevrolet Colorado yearly insurance costs for each age group. The information is based on a married male driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.
Higher deductibles lower rates
The information below shows how different deductible levels and can affect Chevrolet Colorado insurance premiums for each different age group. The premiums are based on a single female driver, full coverage, and no policy discounts are applied.
Difference between full coverage and liability only rates
The illustration below illustrates the comparison of Chevrolet Colorado car insurance rates when comparing full coverage to state minimum liability only. The premiums are based on no accidents, no driving violations, $1,000 deductibles, single male driver, and no additional discounts are factored in.
Guidelines for dropping full coverage
There is no specific rule of when to exclude comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let’s say your Chevrolet Colorado claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $5,000 after paying your deductible. If it’s costing you more than $500 annually for physical damage coverage, then it could be time to drop full coverage.
There are a few cases where dropping full coverage is not advised. If you haven’t paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Insurance discounts help lower rates for Chevy Colorado insurance in Denver
Car insurance companies don’t always publicize all their discounts very well, so the following list contains both well-publicized as well as the least known discounts that you can inquire about if you buy Denver auto insurance online.
- Seat Belts Save – Drivers who always wear seat belts and also require passengers to use their safety belts can save 10% or more on the premium charged for medical payments and/or PIP.
- Savings for New Vehicles – Adding a new car to your policy may earn a small discount because newer vehicles have to meet stringent safety requirements.
- Good Grades Discount – Being a good student can get you a discount of up to 25%. This discount can apply up until you turn 25.
- Life Insurance Discount – Larger insurance companies have lower premium rates if you buy a life policy as well.
- Defensive Driving Course – Taking a course that instructs on driving safety could possibly earn you a 5% discount and make you a better driver.
Discounts lower rates, but most of the big mark downs will not be given to your bottom line cost. Some only apply to individual premiums such as comp or med pay. Even though the math looks like having all the discounts means you get insurance for free, that’s just not realistic. Any qualifying discounts should definitely cut the amount you pay for coverage.
A few of the larger companies and some of the premium reductions they offer are:
- State Farm may include discounts for good student, student away at school, Drive Safe & Save, multiple autos, and good driver.
- Farmers Insurance policyholders can earn discounts including switch companies, alternative fuel, teen driver, good student, multi-car, and youthful driver.
- Progressive discounts include good student, online signing, continuous coverage, multi-policy, multi-vehicle, homeowner, and online quote discount.
- GEICO may have discounts that include good student, multi-vehicle, driver training, air bags, seat belt use, and membership and employees.
- Auto-Owners Insurance has savings for group or association, student away at school, anti-lock brakes, safe driver, and paperless.
- The Hartford may offer discounts for driver training, air bag, defensive driver, bundle, anti-theft, good student, and vehicle fuel type.
- Farm Bureau offers discounts including multi-policy, renewal discount, good student, 55 and retired, driver training, multi-vehicle, and safe driver.
- USAA offers premium reductions for family discount, multi-vehicle, safe driver, driver training, and military installation.
If you need lower rates, check with each insurance company which discounts they offer. Some of the earlier mentioned discounts might not be offered on policies in every state. To see a list of companies that can offer you the previously mentioned discounts in Colorado, click this link.
Three good reasons to insure your Chevy vehicle
Despite the high insurance cost for a Chevy Colorado in Denver, buying insurance is most likely required but also gives you several important benefits.
- The majority of states have minimum mandated liability insurance limits which means you are required to buy a specific level of liability protection 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 your Colorado has a lien holder, almost every bank will have a requirement that you buy insurance to guarantee loan repayment. If coverage lapses or is canceled, the bank will be required to insure your Chevy at a much higher premium rate and force you to reimburse them much more than you were paying before.
- Insurance preserves both your car and your assets. It also can pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit in the event you are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance outweigh the cost, especially with large liability claims. Today the average American driver overpays as much as $865 each year so compare quotes from several companies at least once a year to save money.
Do I just need basic coverages?
Always remember that when buying proper insurance coverage for your vehicles, there is no best way to insure your cars. Coverage needs to be tailored to your specific needs and your auto insurance should be unique as well.
These are some specific questions could help you determine if your insurance needs might need professional guidance.
- Is my custom paint covered by insurance?
- If my car is totalled with they pay enough to replace it?
- How much underlying liability do I need for an umbrella policy?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Does rental coverage apply when I am renting a car?
- What is no-fault insurance?
- Is my cargo covered for damage or theft?
If you’re not sure about those questions, you may need to chat with a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It is quick, free and can help protect your family.
When to get advice from an agent
A small number of people just prefer to talk to an insurance agent and we recommend doing that Insurance agents can answer important questions and help you file claims. An additional benefit of comparing insurance prices online is you may find cheaper premium rates but also keep your business local. Putting coverage with neighborhood agents is important especially in Denver.
To make it easy to find an agent, after completing this quick form, your information is instantly submitted to local insurance agents who can give free rate quotes to get your business. It makes it easy because there is no need to find an agent because prices are sent straight to your inbox. If you need to compare rates from a particular provider, just jump over to their website and give them your coverage information.
If you are wanting to purchase insurance from a reliable insurance agent, you should know the types of agencies and how they are slightly different. Insurance agents in Denver may be either independent agents or exclusive agents depending on their employer. Either one can provide insurance policies, but it’s important to know the differences since it can impact your agent selection.
Independent Insurance Agents (or Brokers)
Independent insurance agents can quote rates with many companies and that allows them to write policies with many different companies and possibly get better coverage at lower prices. To move your coverage to a new company, an independent agent can move your coverage and you stay with the same agent. When comparing rate quotes, it’s recommended you get insurance quotes from a couple of independent agencies so that you can do a thorough price comparison.
Shown below is a partial list of independent insurance agencies in Denver that can give you free insurance quotes.
Exclusive agencies can usually just insure with one company and examples are Allstate, Farmers Insurance or State Farm. They usually cannot shop your coverage around so they have no alternatives for high prices. They are well trained on their company’s products which helps offset the inability to provide other markets.
Below are Denver exclusive insurance agents that can give you price quote information.
Choosing an car insurance agent should include more criteria than just the quoted price. The answers to these questions are important, too.
- In the event of vehicle damage, can you pick the collision repair facility?
- Will they take your side in the event of a claim?
- If they are an independent agency in Denver, which companies do they recommend?
- Will they give you a referral list?
- Is the agent CPCU or CIC certified?
After you get acceptable answers to these questions and a good coverage price, you may have found an insurance agent that will adequately provide insurance.
Having a good grasp of your insurance policy can be of help when determining which coverages you need for your vehicles. Policy terminology can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverages found on most insurance policies.
Medical costs insurance
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses for things like EMT expenses, nursing services, hospital visits and ambulance fees. They are utilized in addition to your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not an option in every state and may carry a deductible
This covers damage to your Colorado from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers things like sideswiping another vehicle, rolling your car, sustaining damage from a pot hole, crashing into a building and colliding with another moving vehicle. This coverage can be expensive, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible on your Colorado to bring the cost down.
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like hitting a bird, vandalism and damage from getting keyed. The most you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.
Since many Colorado drivers only carry the minimum required liability limits (25/50/15), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time these limits are set the same as your liability limits.
This provides protection from damages or injuries you inflict on a person or their property by causing an accident. It protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/15 that means you have a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a limit of $15,000 paid for damaged property. Some companies may use one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability can pay for claims like medical expenses, medical services and pain and suffering. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible. Colorado state law requires minimum liability limits of 25/50/15 but you should think about purchasing more liability than the minimum.