Want the cheapest auto insurance rates in Denver, CO? Denver shoppers have options when shopping for affordable Toyota Land Cruiser insurance. They can either waste time struggling with agents getting price quotes or leverage the internet to find the lowest rates. There is a right way and a wrong way to shop for auto insurance and we’ll show you the best way to get price quotes for your Toyota and get the best price possible.
It’s a good idea to quote other rates on a regular basis because insurance rates are rarely the same from one policy term to another. Just because you found the lowest premium rates on Toyota Land Cruiser insurance in Denver a few years ago there is a good chance you can find better prices now. Forget anything you know (or think you know) about auto insurance because you’re about to find out the best way to find great coverage at a great price.
The most recommended method to compare policy rates for Toyota Land Cruiser insurance in Denver is to realize auto insurance companies participate in a system to give you rate quotes. To start a quote, the only thing you need to do is provide a little information including driver details, if your license is active, your credit rating estimate, and your occupation. The data is instantly sent to multiple companies and they respond with quotes within a short period of time.
To get price quotes for your car now, click here and find out if lower rates are available in Denver.
The auto insurance companies shown below are our best choices to provide free quotes in Colorado. If multiple companies are listed, we recommend you click on several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Premium amounts do not factor in Denver location which can affect price quotes greatly.
Toyota Land Cruiser liability rates compared to full coverage
The chart below shows the difference between Toyota Land Cruiser car insurance rates with liability coverage only compared to full coverage. Data assumes no violations or claims, $500 deductibles, married male driver, and no discounts are factored in.
Deciding between full coverage and liability only
There is no clear-cut formula of when to stop paying for physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s say your Toyota Land Cruiser replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $8,000 after paying your deductible. If you are currently paying more than $800 annually for comprehensive and collision coverage, then it could be time to drop full coverage.
There are some situations where eliminating full coverage is not advised. If you still owe money on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.
Safe drivers pay less for car insurance
The diagram below illustrates how speeding tickets and at-fault collisions can increase Toyota Land Cruiser car insurance rates for different categories of driver ages. The information is based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied.
Where to set your deductibles
The chart below shows how different deductible levels and can impact Toyota Land Cruiser insurance rates for different age groups. The data is based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
Insurance is not optional in Colorado
Despite the high insurance cost for a Toyota Land Cruiser in Denver, insurance serves an important purpose.
- Just about all states have mandatory insurance requirements which means you are required to carry a specific level of liability coverage if you drive a vehicle. 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 vehicle, almost every bank will force you to have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you do not keep the policy in force, the bank may buy a policy for your Toyota at a significantly higher premium and require you to pay for the much more expensive policy.
- Insurance protects not only your car but also your financial assets. Insurance will pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance also pays for attorney fees and expenses if you cause an accident and are sued. If you have damage to your Toyota as the result of the weather or an accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of buying enough insurance definitely exceed the price paid, particularly if you ever have a claim. Unknowingly, the average driver is wasting up to $865 each year so shop around every year to be sure current rates are still competitive.
Denver insurance discounts
Companies that sell car insurance don’t always publicize every discount available in an easy-to-find place, so below is a list a few of the more well known and also the lesser-known insurance savings.
- Auto/Life Discount – Not all insurance carriers offer life insurance, but some may give you a discounted price on car insurance if you buy life insurance from them.
- Accident Forgiveness Coverage – This one is not really a discount per se, but some insurance companies will let one accident slide without the usual rate increase so long as you are claim-free for a particular time prior to the accident.
- Smart Student Discounts – A discount for being a good student may save you up to 25%. Many companies even apply the discount to college students up to age 25.
- New Vehicle Savings – Buying a new car instead of a used Land Cruiser can be considerably cheaper since newer vehicles are generally safer.
- Pay Upfront and Save – By making one initial payment rather than spreading payments over time you can avoid the installment charge.
- Military Rewards – Having a deployed family member could mean lower premium rates.
- Paperless Signup – Some insurance companies may give you up to $50 for buying a policy and signing up online.
- Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems can qualify for discounts of 25 to 30%.
As a disclaimer on discounts, some credits don’t apply to the overall cost of the policy. Most only apply to individual premiums such as comp or med pay. So despite the fact that it appears all those discounts means the company will pay you, it just doesn’t work that way.
A list of companies and some of the premium reductions they offer can be read below.
- State Farm may offer discounts for safe vehicle, multiple policy, good student, good driver, and defensive driving training.
- Esurance may include discounts for good driver, homeowner, multi-car, defensive driver, online quote, and multi-policy.
- Progressive discounts include good student, multi-policy, continuous coverage, online signing, and homeowner.
- Liberty Mutual has discounts for new graduate, safety features, newly married, exclusive group savings, new vehicle discount, and multi-car.
- Auto-Owners Insurance may have discounts that include multi-policy, good student, mature driver, paperless, air bags, anti-theft, and teen driver.
- GEICO offers premium reductions for multi-vehicle, driver training, membership and employees, multi-policy, anti-lock brakes, and military active duty.
Before purchasing a policy, check with every company how many discounts you can get. A few discounts may not apply to policies in your area. To see a list of providers who offer online Toyota Land Cruiser insurance quotes in Denver, click this link.
Buying from auto insurance agents
A small number of people would prefer to buy from a licensed agent and that can be a smart move Good insurance agents can help determine the best coverages and help in the event of a claim. An additional benefit of comparing rates online is the fact that drivers can get lower rates and still have an agent to talk to.
For easy comparison, once you complete this simple form, your information gets sent to local insurance agents who can give free rate quotes for your business. There is no reason to contact any agents since rate quotes are delivered directly to your email. In the event you want to quote rates from a particular provider, you would need to navigate to their website and submit a quote form there.
Picking the best insurance company needs to be determined by more than just the price. Here are some questions to ask:
- By raising physical damage deductibles, how much would you save?
- Does the agent have a valid license to sell insurance in Colorado?
- How does the company pay claims for a total loss?
- If they are an independent agency in Denver, which companies do they recommend?
- Do they reduce claim amounts on high mileage vehicles?
Below is a short list of insurance companies in Denver willing to provide rate quotes for Toyota Land Cruiser insurance in Denver.
- Caramel Russell-Rouse – State Farm Insurance Agent
999 S Monaco Pkwy #200 – Denver, CO 80224 – (303) 424-0420 – View Map
- Nationwide Insurance: Lloyd Pro Group Agency
1400 S Columbine St – Denver, CO 80210 – (970) 230-3020 – View Map
- A Complete Home and Auto Insurance Agency
44 Cook St #100 – Denver, CO 80206 – (303) 650-0060 – View Map
- Farmers Insurance Agent Mike
I-25 – Denver, CO 80231 – (303) 752-2900 – View Map
Your insurance coverage should be tailored to you
Keep in mind that when it comes to choosing a policy, there really is not a perfect coverage plan. Every situation is different and your policy should reflect that.
For example, these questions can help discover if your situation may require specific advice.
- Does my insurance cover a custom paint job?
- Can I rent a car in Mexico?
- Is my custom stereo system covered?
- Is my Toyota Land Cruiser covered if I use it for business?
- Is other people’s property covered if stolen from my vehicle?
- Am I covered if I crash into my own garage door?
If you can’t answer these questions then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.
Information about specific coverages
Learning about specific coverages of your policy can be of help when determining the best coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverage types offered by insurance companies.
Collision – This will pay to fix damage to your Land Cruiser resulting from a collision with another car or object. You will need to pay your deductible then your collision coverage will kick in.
Collision insurance covers claims like hitting a mailbox, driving through your garage door, sustaining damage from a pot hole, damaging your car on a curb and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to bump up the deductible on your Land Cruiser to save money on collision insurance.
Comprehensive coverages – This pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims like damage from a tornado or hurricane, fire damage and a broken windshield. The highest amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
Liability auto insurance – This coverage can cover damage that occurs to a person or their property by causing an accident. It protects you from legal claims by others. It does not cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/15 that means you have a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $15,000 paid for damaged property.
Liability insurance covers claims such as emergency aid, court costs and bail bonds. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as large an amount as possible. Colorado state minimum liability requirements are 25/50/15 but you should consider buying better liability coverage.
Uninsured and underinsured coverage – This protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Due to the fact that many Colorado drivers have only the minimum liability required by law (25/50/15), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Coverage for medical payments – Medical payments and Personal Injury Protection insurance kick in for bills like chiropractic care, doctor visits, rehabilitation expenses and hospital visits. They are often used to fill the gap from your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
One last note
We’ve covered a lot of techniques to find lower-cost Toyota Land Cruiser insurance in Denver. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest rates are with the least-expected company. These companies may cover specific market segments cheaper than their larger competitors like State Farm and Allstate.
As you go through the steps to switch your coverage, don’t be tempted to skimp on coverage in order to save money. There are too many instances where an accident victim reduced collision coverage only to regret that the small savings ended up costing them much more. Your objective should be to buy a smart amount of coverage at the best cost, but do not sacrifice coverage to save money.
Additional detailed information is located by following these links:
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Who Has the Cheapest Denver Car Insurance for Nurses? (FAQ)
- Who Has Affordable Denver Auto Insurance Rates for State Employees? (FAQ)
- Who Has the Cheapest Denver Auto Insurance Quotes for Drivers Under 25? (FAQ)
- Tools for Teen Driving Safety (State Farm)
- Car Insurance: When not to Skimp (BankRate.com)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)