Are you searching for more affordable Toyota Yaris insurance in Denver? Are you irritated from sacrificing other expenses to keep your car insured? You are in the same boat as many other Colorado consumers.
It’s amazing but the vast majority of auto insurance customers renewed their policy with the same company for at least the last four years, and nearly half have never compared rates from other carriers. Many consumers in Colorado could save an average of $600 each year by just comparing rate quotes, but they mistakenly think it’s difficult to find cheaper auto insurance rates. Insurance companies such as Allstate, Liberty Mutual and State Farm constantly bombard you with TV and radio ads and consumers find it hard to see past the corporate glitz and do the work needed to find the best deal.
If you have a current auto insurance policy or are looking for a new policy, follow these tips to reduce premiums while maximizing coverage. Choosing the best rates in Denver is much easier if you know where to start. Drivers just have to know the fastest way to compare rates over the internet.
Cheapest companies for Toyota Yaris insurance
The following companies are ready to provide price quotes in Denver, CO. If multiple companies are shown, we suggest you get rates from several of them to get the cheapest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yaris 2-Dr Hatchback||$204||$448||$448||$26||$134||$1,260||$105|
|Yaris 4-Dr Hatchback||$236||$458||$352||$20||$106||$1,172||$98|
|Yaris 4-Dr Sedan||$186||$362||$358||$22||$108||$1,036||$86|
|Yaris S 2-Dr Hatchback||$214||$362||$404||$24||$122||$1,126||$94|
|Yaris S 4-Dr Hatchback||$252||$368||$460||$28||$138||$1,246||$104|
|Yaris S 4-Dr Sedan||$130||$238||$330||$20||$98||$816||$68|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Premium amounts do not factor in specific Denver garaging location which can change insurance rates noticeably.
Does it make sense to buy full coverage?
The information below shows the comparison of Toyota Yaris insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no accidents, no driving violations, $1,000 deductibles, single female driver, and no other discounts are factored in.
Are you wasting money paying for full coverage?
There is no definitive guideline of when to phase out physical damage insurance, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Toyota Yaris 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 you pay the deductible. If you are paying in excess of $500 a year for full coverage, the it may be a good time to stop paying for full coverage.
There are some situations where removing full coverage is not recommended. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Companies offer money-saving discounts on Toyota Yaris insurance in Denver
Properly insuring your vehicles can get expensive, but you can get discounts to help offset the cost. Most are applied at the time of purchase, but a few need to be requested specifically before being credited. If you’re not getting every credit possible, you are paying more than you should be.
- Save with More Vehicles Insured – Buying a policy with several vehicles on the same auto insurance policy can get a discount on all vehicles.
- Accident-Free Discounts – Denver drivers who stay claim-free can save substantially in comparison to bad drivers.
- Discount for Life Insurance – Some auto insurance companies give better auto insurance rates if you take out some life insurance too.
- Senior Citizen Rates – If you’re over the age of 55, you could receive reduced rates.
- Payment Discounts – If you pay your bill all at once as opposed to paying monthly you could save 5% or more.
- Policy Bundle Discount – If you can combine your home and auto policy with the same insurance company you may earn as much as 10 to 15 percent.
- Smart Student Discounts – Maintaining excellent grades can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up to age 25.
Drivers should understand that many deductions do not apply to all coverage premiums. Some only reduce specific coverage prices like physical damage coverage or medical payments. Just because you may think you would end up receiving a 100% discount, auto insurance companies aren’t that generous.
Larger auto insurance companies and their offered discounts are shown below.
- GEICO may offer discounts for seat belt use, good student, defensive driver, air bags, five-year accident-free, anti-lock brakes, and multi-policy.
- MetLife includes discounts for good student, claim-free, defensive driver, good driver, multi-policy, accident-free
- Progressive may have discounts that include homeowner, online signing, online quote discount, good student, multi-policy, multi-vehicle, and continuous coverage.
- Travelers offers discounts including new car, driver training, good student, multi-car, and continuous insurance.
- SAFECO may include discounts for anti-theft, accident prevention training, anti-lock brakes, teen safety rewards, multi-car, and bundle discounts.
- AAA offers premium reductions for anti-theft, pay-in-full, multi-car, education and occupation, good student, AAA membership discount, and multi-policy.
When getting a coverage quote, ask each company or agent how many discounts you can get. Some discounts listed above may not be offered in Denver.
Can’t I compare prices from local Denver insurance agents?
A lot of people still prefer to sit down and talk to an agent. Good agents can make sure you are properly covered and help you file claims. One of the best bonuses of getting online price quotes is you may find the lowest rates but still work with a licensed agent.
Once you complete this form (opens in new window), the quote information gets sent to agents in your area who will give competitive quotes for your insurance coverage. You won’t need to do any legwork because quoted prices will be sent directly to you. If you wish to get a rate quote from a specific company, you can always go to their quote page and submit a quote form there.
Finding the right insurance company requires you to look at more than just a low price. The following questions are important to ask.
- By raising physical damage deductibles, how much would you save?
- Is vehicle damage repaired with OEM or aftermarket parts?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Do they review policy coverages at every renewal?
- Does the agency provide any after hours assistance?
- How long has their agency been in business in Denver?
If you want a reliable agent, it’s important to understand the types of insurance agents and how they differ in how they can insure your vehicles. Denver agents are categorized either exclusive or independent. Either can properly insure your vehicles, but we need to point out the difference in the companies they write for because it can influence the selection process.
Exclusive Insurance Agents
Agents in the exclusive channel can only place business with one company and some examples include Allstate, AAA, Farmers Insurance, and State Farm. These agents are unable to provide prices from multiple companies so you might not find the best rates. Exclusive agencies are well schooled on their products and sales techniques which aids in selling service over price.
Below is a list of exclusive insurance agents in Denver willing to provide price quote information.
These type of agents do not have single company limitations so as a result can place your coverage with an assortment of companies and get the cheapest rates. If your agent finds better pricing, an independent agent can move your coverage which makes it simple for you. When comparing rates, we recommend you get quotes from at a minimum one independent agency to ensure the widest selection of prices.
Listed below are Denver independent insurance agencies who can help you get price quote information.
Beware of misleading insurance ads
Colorado drivers can’t avoid all the ads that claim the lowest premium rates by State Farm, Allstate and GEICO. All the companies seem to make the promise that drivers can save some big amount just by moving to them.
How do they all offer drivers better rates? It’s all in the words they use.
All companies have a certain “appetite” for a prospective insured that will be a good risk. For example, this type of insured might be over age 30, owns their home, and chooses high deductibles. Any person who matches those parameters will get a cheap rate quote in Denver and will also save some money.
Consumers who may not quite match those standards will probably have to pay higher premium rates which results in the driver buying from a lower-cost company. If you listen to the ad wording, they say “drivers who switch” not “everyone who quotes” save the amount stated. That is how companies can truthfully make those statements. That is why you really need to do a quote comparison often. It’s just not possible to know the company that will be your best fit.
Quote more and you will save more
Lower-priced insurance in Denver can be purchased on the web in addition to local insurance agencies, and you need to price shop both to have the best chance of lowering rates. Some insurance providers do not offer internet price quotes and usually these small insurance companies only sell through independent insurance agencies.
In this article, we covered some good ideas how to save on Toyota Yaris insurance in Denver. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding inexpensive Denver auto insurance quotes. You may even be surprised to find that the lowest prices come from the smaller companies. Smaller companies can often insure niche markets at a lower cost than the large multi-state companies such as Allstate or State Farm.
As you quote Denver auto insurance, don’t be tempted to buy less coverage just to save a little money. There are a lot of situations where an insured dropped full coverage to discover at claim time that it was a big mistake. Your strategy should be to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
Additional detailed information can be read in the articles below:
- Vehicle Insurance in the U.S. (Wikipedia)
- Who Has the Cheapest Auto Insurance Rates for a Subaru Outback in Denver? (FAQ)
- Safety Belts FAQ (iihs.org)
- Medical Payments Coverage (Liberty Mutual)
- How Much Auto Coverage do I Need? (Insurance Information Institute)