Feeling guilty for buying an underperforming, overpriced auto insurance policy? Say no more because many Denver consumers are in the same pinch.
A recent auto insurance study revealed that a large majority of drivers renewed their policy with the same company for more than four years, and almost 40% of drivers have never even compared quotes to find cheap rates. The average driver in Denver could cut their rates by about 35% a year by just comparing rate quotes, but they just don’t understand how easy it is to compare rate quotes online. Many insurers compete for your hard-earned dollar, and because of this it can be hard to compare insurers to find the absolute lowest cost out there.
If you are already insured or just want to reduce your rates, you will benefit by learning to reduce premiums without reducing coverage. Locating the best rates in Denver is actually not that difficult if you follow our advice. Consumers just have to understand the quickest method to compare different rates instantly.
Most of the larger companies such as State Farm and Allstate allow consumers to get coverage price quotes on their websites. Comparing Porsche Cayman insurance rates online is quite simple as you just enter your coverage information as requested by the quote form. When the form is submitted, the system obtains credit information and your driving record and returns a price based on these factors. Quoting online for Porsche Cayman insurance in Denver makes it easy to compare insurance prices and it is important to compare as many rates as possible if you want to get cheaper rates.
To quickly compare rates now, check out the auto insurance providers below. To compare your current rates, we recommend you complete the form with the coverage information exactly as shown on your declarations page. This makes sure you’re receiving a rate comparison for the exact same coverage.
The following companies can provide free quotes in Colorado. If the list has multiple companies, we recommend you visit several of them in order to find the most competitive rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$296||$554||$358||$22||$108||$1,338||$112|
|Cayman S 2-Dr Coupe||$382||$860||$362||$22||$108||$1,734||$145|
|Get Your Own Custom Quote Go|
Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Estimates do not factor in specific Denver garaging location which can impact coverage prices considerably.
Annual premiums comparing men and women in Denver
The illustration below illustrates the comparison of Porsche Cayman insurance prices for male and female drivers. Data assumes a clean driving record, no at-fault accidents, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are applied.
The ad said I’d save $405 a year!
Colorado consumers get pounded daily by advertisements for insurance savings by companies like State Farm and Allstate. All the ads have a common claim about how much you will save if you switch your policy.
How does every insurance company say the same thing? Here is the trick they use.
All companies quote the lowest rates for the driver that will generate a profit. An example of this type of risk profile could possibly be over the age of 40, has no tickets, and drives a lower-performance vehicle. A driver who matches those parameters gets the lowest car insurance rates and will save if they switch.
Potential customers who don’t qualify for the “perfect” profile will be charged higher prices and the driver buying from a lower-cost company. If you listen to the ad wording, they say “drivers that switch” not “all people who quote” can save as much as they claim. That is how companies can truthfully make the claims of big savings. Because of the profiling, drivers should quote coverage with many companies. It is just not possible to predict which insurance companies will fit you best based on your risk profile.
Protect more than your Porsche vehicle
Despite the high insurance cost for a Porsche Cayman in Denver, insurance may be required for several reasons.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability protection in order to license the 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 your Porsche Cayman has a lien holder, it’s most likely the lender will require you to have physical damage coverage to guarantee loan repayment. If you do not keep the policy in force, the bank will be required to insure your Porsche for a lot more money and force you to pay for the expensive policy.
- Insurance protects not only your vehicle but also your assets. It will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the repair costs.
The benefits of having auto insurance are without a doubt worth the cost, especially for larger claims. According to a 2015 survey, the average American driver overpays more than $800 each year so you should quote rates at every policy renewal to save money.
Affordable rates by taking advantage of these eight discounts
Some providers do not advertise the complete list of policy discounts in an easy-to-find place, so the next list breaks down some of the more common and also the more inconspicuous discounts that may be available.
- Buy New and Save – Insuring a vehicle that is new can cost up to 25% less because newer models have to meet stringent safety requirements.
- Discounts for Good Drivers – Drivers without accidents can save up to 40% or more on their Denver car insurance quote than their less cautious counterparts.
- Driver Training Discounts – Completing a class that teaches safe driver techniques is a good idea and can lower rates if your company offers it.
- Fewer Miles Equal More Savings – Driving less could qualify for cheaper prices.
- Distant Student Discount – Kids living away from Denver attending college without a vehicle on campus may be able to be covered for less.
- Policy Bundle Discount – If you combine your auto and homeowners policies with one company they may give you a discount of at least 10 to 15 percent or more.
- Professional Organizations – Participating in a qualifying organization could qualify you for a break on your policy.
- Senior Discount – Drivers over the age of 55 can get a discount up to 10%.
As is typical with insurance, most discount credits are not given to the whole policy. Most only apply to specific coverage prices like liability, collision or medical payments. Despite the fact that it seems like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy. Any qualifying discounts will definitely lower the cost of coverage.
If you would like to choose from a list of insurance companies that have a full spectrum of discounts in Colorado, click here.
Insurance agent or online?
Some people would prefer to sit down and talk to an agent and that is a personal choice. Insurance agents are very good at helping people manage risk and help in the event of a claim. A nice benefit of price shopping on the web is the fact that you can find cheaper rates and still have a local agent.
To make it easy to find an agent, after completing this short form, your information is sent to local insurance agents in Denver that provide free Denver car insurance quotes for your auto insurance coverage. You won’t need to even leave your home since rate quotes are delivered directly to you. If you want to quote rates from one company in particular, don’t hesitate to search and find their rate quote page and fill out the quote form the provide.
Finding a good insurance company is decision based upon more than just the bottom line cost. Any agent in Denver should be willing to answer these questions.
- Which company do they place the most coverage with?
- Are they giving you every discount you deserve?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Does the agency have a positive business rating?
- Has the agent ever had any license suspensions?
If you prefer to buy auto insurance from a reputable insurance agent or broker, you need to know there are two different types of agencies and how they function. Agents in Denver can either be exclusive or independent. Both can do a good job, but it is a good idea to know the subtle differences since it can affect the kind of agent you use.
Exclusive agents are contracted to one company and some examples include Allstate, AAA, Farmers Insurance, and State Farm. They usually cannot provide other company’s prices so they are skilled at selling on more than just price. Exclusive insurance agents receive extensive training on sales techniques which helps them compete with independent agents.
Listed below are exclusive insurance agencies in Denver willing to provide comparison quotes.
Caramel Russell-Rouse – State Farm Insurance Agent
999 S Monaco Pkwy #200 – Denver, CO 80224 – (303) 424-0420 – View Map
Independent Auto Insurance Agencies
Agents in the independent channel do not work for one specific company and that enables them to quote your coverage with lots of companies and find you cheaper rates. If your agent finds better pricing, they simply move your policy to a different company which requires no work on your part. If you need lower rates, it’s a good idea to compare prices from at least one independent agent to get the most accurate price comparison.
Listed below are independent insurance agencies in Denver that are able to give rate quotes.
After receiving satisfactory answers to these questions and an acceptable price quote, you’ve probably found an insurance agency that meets the criteria to properly insure your vehicles.
Coverages available on your policy
Understanding the coverages of car insurance can be of help when determining the right coverages for your vehicles. Car insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types found on the average car insurance policy.
Medical costs insurance
Med pay and PIP coverage provide coverage for immediate expenses for funeral costs, ambulance fees, rehabilitation expenses and EMT expenses. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers you and your occupants in addition to any family member struck as a pedestrian. PIP coverage is only offered in select states and may carry a deductible
Auto liability insurance
Liability insurance protects you from damage that occurs to people or other property by causing an accident. It protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 25/50/15 which means $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a total limit of $15,000 for damage to vehicles and property.
Liability can pay for things like legal defense fees, medical services and emergency aid. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible. Colorado state minimum liability requirements are 25/50/15 but you should think about purchasing more liability than the minimum.
Collision coverage protection
Collision insurance pays to fix your vehicle from damage resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers claims such as crashing into a building, colliding with a tree, hitting a mailbox, sideswiping another vehicle and hitting a parking meter. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Drivers also have the option to choose a higher deductible on your Cayman in order to get cheaper collision rates.
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as theft, a broken windshield and damage from a tornado or hurricane. The maximum payout your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
This gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as damage to your Porsche Cayman.
Since many Colorado drivers have only the minimum liability required by law (which is 25/50/15), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea.
Lower rates by being persistent
You just learned a lot of ways to save on Porsche Cayman insurance in Denver. It’s most important to understand that the more quotes you get, the more likely it is that you will get a better rate. You may even discover the lowest premium rates come from the least-expected company. These smaller insurers often have lower prices on specific markets compared to the large companies like State Farm and Allstate.
As you quote Denver car insurance, it’s very important that you do not reduce needed coverages to save money. There are a lot of situations where an insured cut liability coverage limits only to find out that the few dollars in savings costed them thousands. The aim is to find the BEST coverage at the lowest possible cost, but don’t skip important coverages to save money.
More information is located on the following sites:
- Alcohol Impaired Driving FAQ (iihs.org)
- Who Has Cheap Auto Insurance Quotes for 4×4 Vehicles in Denver? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Hybrid Vehicles in Denver? (FAQ)
- Who Has Cheap Car Insurance for High Risk Drivers in Denver? (FAQ)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- All About Airbag Safety (State Farm)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)