How many times have you said it's time to compare lower-priced Kia Optima insurance in Denver? I can't think of a single person who likes having to buy insurance, especially when they know they could find lower prices if they just compared rates.
It's astonishing, but most insurance customers kept buying from the same company for over three years, and nearly the majority have never even shopped around for cheap coverage. Many drivers in Denver can save hundreds of dollars each year just by comparing rates, but they don't believe the rate savings if they replace their high priced policy.
There are many insurers to pick from, and though it is a good thing to be able to choose, more options can take longer to find the lowest rates for Kia Optima insurance in Denver.
It is always a good idea to shop coverage around yearly since rates change quite often. Even if you think you had the lowest rate on Kia Optima insurance in Denver a year ago the chances are good that you can find a lower price today. There is lot of inaccurate information about Optima insurance online, but we're going to give you some tested techniques to stop overpaying for insurance in Denver.
The easiest way to compare insurance rates from multiple companies utilizes the fact most of the bigger providers will pay a fee to provide you with a free rate quote. The only thing you need to do is provide a little information including your occupation, driver ages, whether or not you need a SR-22, and the type of vehicles you drive. Your rating data is then sent to insurance companies and you get price estimates quickly.
To compare multiple company cheap Kia Optima insurance rates now, click here and see if a lower rate is available in Denver.
The following companies offer price comparisons in Denver, CO. If more than one company is shown, we suggest you visit as many as you can in order to find the most affordable rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Rate information does not factor in vehicle location which can influence auto insurance rates greatly.
Do you need full coverage?
The example below visualizes the comparison of Kia Optima annual premium costs with and without full coverage. The rate quotes are based on a clean driving record, no claims, $500 deductibles, married female driver, and no discounts are applied.
When to stop paying for full coverage
There isn't a steadfast formula to stop buying physical damage insurance, but there is a general school of thought. If the annual cost of coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let's say your Kia Optima claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $6,000 after paying your policy deductible. If premiums are more than $600 a year for full coverage, then you may want to consider only buying liability coverage.
There are a few situations where dropping physical damage coverage is not a good plan. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Lower-cost Denver auto insurance rates with discounts
Auto insurance is not an enjoyable expense, but there's a good chance there are discounts that can dramatically reduce your bill. Larger premium reductions will be automatically applied when you quote, but a few need to be requested specifically before they will apply. If you check and find you aren't receiving every discount available, you are throwing money away.
- Savings for New Vehicles - Insuring a new Optima can save up to 30% due to better safety requirements for newer vehicles.
- Student Discount for Driver Training - It's a good idea to have your young drivers complete a driver education course as it will make them better drivers and lower rates.
- Discounts for Safe Drivers - Insureds without accidents can get discounts for up to 45% lower rates than their less cautious counterparts.
- Early Signing - Some companies give discounts for renewing your policy early. You may see this discount when you get Denver auto insurance quotes online.
- Theft Deterrent System - Cars and trucks equipped with anti-theft or alarm systems are stolen with less frequency and therefore earn up to a 10% discount.
- Discounts for Multiple Vehicles - Having multiple cars or trucks on a single policy could earn a price break for each car.
- Active Service Discounts - Having an actively deployed family member could mean lower premium rates.
- Homeowners Savings - Owning a home in Denver can get you a discount because of the fact that having a home shows financial diligence.
- Safety Restraint Discount - Buckling up and requiring all passengers to use a seat belt can save 10% or more on the premium charged for medical payments and/or PIP.
- Federal Government Employee - Active or retired federal employment may reduce rates when you quote Denver auto insurance with a few auto insurance companies.
Policy discounts save money, but some credits don't apply to the overall cost of the policy. A few only apply to individual premiums such as comprehensive or collision. So even though it sounds like you would end up receiving a 100% discount, it's just not the way it works.
A few of the larger companies and their possible discounts are detailed below.
- Progressive has discounts for online signing, homeowner, online quote discount, multi-policy, multi-vehicle, continuous coverage, and good student.
- AAA has savings for multi-car, good student, education and occupation, pay-in-full, and AAA membership discount.
- Farmers Insurance policyholders can earn discounts including homeowner, business and professional, mature driver, electronic funds transfer, and teen driver.
- GEICO may have discounts that include seat belt use, daytime running lights, emergency military deployment, membership and employees, and multi-vehicle.
- Esurance may offer discounts for good driver, Switch & Save, online quote, safety device, defensive driver, good student, and anti-theft.
- SAFECO may include discounts for anti-theft, anti-lock brakes, multi-car, homeowner, teen safety rewards, and teen safe driver.
- State Farm offers premium reductions for student away at school, anti-theft, accident-free, defensive driving training, multiple autos, passive restraint, and good student.
If you need lower rates, check with all the companies to apply every possible discount. Discounts may not be offered in Denver.
Shop online but buy locally
Many people still like to sit down and talk to an agent and that is not a bad decision The best thing about comparing rate quotes online is the fact that drivers can get lower rates and still buy from a local agent. Buying from local insurance agencies is still important in Denver.
After filling out this short form, your insurance data is submitted to agents in your area who will give competitive quotes for your car insurance coverage. It's much easier because you don't need to do any legwork since rate quotes are delivered to you directly. You can get cheaper car insurance rates without a big time investment. In the event you want to compare prices for a specific company, just go to their quote page to submit a rate quote request.
Below are agents in Denver that can give you comparison quotes for Kia Optima insurance in Denver.
Choosing an insurer should depend on more than just a cheap price quote. These questions are important to ask:
- Is the agent and/or agency licensed to do business in Colorado?
- Do they specialize in personal lines auto insurance in Denver?
- What company holds the largest book of business for them?
- Will you work with the agent or an assistant?
- By raising physical damage deductibles, how much would you save?
- Is the agent CPCU or CIC certified?
Components of Your Kia Optima Insurance Prices
Multiple criteria are used when you quote your car insurance policy. Some of the criteria are obvious like a motor vehicle report, but other factors are not as apparent like your vehicle usage or your vehicle rating.
Prices and your address - Residing in areas with lower population has definite advantages when trying to find low car insurance rates. Fewer drivers and short commutes means less chance of accidents and lower theft and vandalism rates. Drivers in populated Colorado areas have more traffic problems and more time behind the wheel. More time on the road means higher likelihood of an accident.
Marriage is a factor - Being married can get you a discount on your insurance policy. Having a spouse is viewed as being more mature and responsible and insurance companies like that married drivers tend to have fewer serious accidents.
Safer cars cost less to insure - Vehicles with good safety scores tend to have better insurance rates. Safer cars reduce the chance of injuries and lower injury rates translates directly to fewer claims which can result in lower premiums.
Drive less and save - The more you drive your Kia each year the more you'll pay to insure your vehicle. Most insurance companies calculate prices based upon how the vehicle is primarily used. Autos used primarily for pleasure use can get a lower rate than those that get driven frequently. It's always a good idea to double check that your vehicle rating properly reflects the right rating data, because improper ratings can cost you money. Having the wrong rating on your Optima can result in significantly higher rates.
Too many claims drive up prices - If you file a lot of claims don't be surprised to see either policy cancellation or increased premiums. Insurance companies in Colorado give most affordable rates to drivers that do not abuse their auto insurance. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.
Is you employer costing you more? - Did you know that where you work can have an impact on rates? Jobs such as lawyers, business owners and stock brokers have the highest average rates because of intense work situations and lengthy work days. Conversely, occupations like professors, students and homemakers have lower than average premiums.
Eliminate extra policy coverages - There are a ton of additional coverages that can add up when buying insurance. Coverages like replacement cost coverage, towing coverage, and extra life insurance coverage may be costing you every month. You may think they are a good idea when you first buy your policy, but if you have no use for them get rid of them and save.
Claims statistics for a Kia Optima - Car insurance companies include the past claim history for a vehicle when they file their rates in each state. Vehicles that the data shows to have higher loss trends will cost more for coverage.
The table shown below demonstrates the insurance loss data for Kia Optima vehicles. For each insurance policy coverage type, the claim probability for all vehicles, without regard to make or model, is set at 100. Percentages below 100 indicate a favorable loss history, while values that are above 100 point to more frequent losses or tendency to have higher losses.
Car Insurance Loss Data for Kia Optima Models
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Kia Optima Hybrid||143||115||116||139||158||151|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Auto insurance does more than just repair your car
Despite the high insurance cost for a Kia Optima in Denver, buying auto insurance is required by state law in Colorado and it also provides benefits you may not be aware of.
First, almost all states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability insurance in order to drive the car 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.
Second, if you bought your vehicle with a loan, most banks will have a requirement that you have full coverage to guarantee loan repayment. If you default on your policy, the lender will be forced to insure your Kia at an extremely high rate and require you to reimburse them for it.
Third, auto insurance preserves your car and your assets. It also can pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability insurance will also pay to defend you if you cause an accident and are sued. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of buying auto insurance are without a doubt worth the cost, particularly if you ever have a claim. An average driver in America is currently overpaying as much as $800 each year so compare rates at least once a year to help ensure money is not being wasted.
Quote often and quote early
Low-cost Kia Optima insurance in Denver is possible both online and also from your neighborhood Denver agents, so you need to shop Denver auto insurance with both to have the best selection. Some insurance companies do not offer the ability to get quotes online and these smaller providers prefer to sell through independent insurance agents.
As you restructure your insurance plan, never buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed collision coverage and found out when filing a claim that it was a big mistake. The proper strategy is to find the BEST coverage at the best cost while still protecting your assets.
More learning opportunities
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- Who Has the Cheapest Auto Insurance for Homeowners in Denver? (FAQ)
- What Insurance is Cheapest for Teachers in Denver? (FAQ)
- How Much are Auto Insurance Quotes for a Learners Permit in Denver? (FAQ)
- What Auto Insurance is Cheapest for Drivers Under 21 in Denver? (FAQ)
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Child Safety FAQ (iihs.org)