Locating the cheapest insurance for a Honda Insight in Colorado can normally be an all-consuming task, but you can learn our auto insurance buying tips to make it easier. There are both good and bad ways to shop for auto insurance so you're going to learn the absolute fastest way to price shop coverage for your Honda and get the lowest price either online or from Aurora insurance agents.

Insurance rates Honda Insight in AuroraIt's amazing but the vast majority of consumers kept their policy with the same company for over three years, and almost half have never compared quotes from other companies. Many drivers in Colorado could save themselves roughly 35% a year just by shopping around, but most undervalue how much money they would save if they swap their current policy for a cheaper one.

It's smart to do price comparisons before your policy renews since prices change regularly. Despite the fact that you may have had the lowest rates on Honda Insight insurance in Aurora a few years ago the chances are good that you can find a lower rate quote today. You'll find quite a bit of inaccurate information about Insight insurance online, but in this article, you're going to get some excellent ideas to slash your auto insurance rates in Aurora.

Finding the cheapest car insurance coverage in Aurora can be easy if you know a few tricks. If you have coverage now or just want a better rate, you can use this information to reduce the price you pay and possibly find even better coverage. Drivers just have to learn the quickest method to compare insurance rates instantly.

Six Things That Affect Your Insurance Premiums

The best way to find cheaper car insurance is to take a look at a few of the rating criteria that help calculate your car insurance rates. When you understand what determines premiums, this allows you to make good choices that can earn you cheaper rates.

Listed below are some of the most rate-impacting factors used by your company to calculate rates.

Your address can affect premiums - Being located in less populated areas of the country can save you money when it comes to car insurance. City drivers have more auto accidents and more severe claims. Fewer people corresponds to lower accident rates and also fewer theft and vandalism claims.

Do thieves like your car? - Purchasing a vehicle with a theft deterrent system can save you a little every year. Anti-theft devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent vehicle theft.

Never let your car insurance policy expire - Having a lapse in insurance coverage can be a guaranteed way to drive up your policy premiums. And not only will insurance be more expensive, getting caught without coverage may result in a hefty fine and possibly a revoked license.

Marriage is a factor - Walking down the aisle may earn you lower rates on car insurance. Having a spouse is viewed as being more stable financially it has been statistically shown that married drivers tend to file fewer claims.

Bad credit hurts insurance prices - Having a good credit score can be an important factor in determining what you pay. Consumers who have good credit tend to be better risks to insure than drivers who have poor credit scores. If your credit score leaves room for improvement, you could potentially save money when insuring your Honda Insight by taking the time to improve your credit score.

Are you male or female? - Over the last 30 years, statistics show that men are more aggressive behind the wheel. It does not mean males are worse at driving than females. Women and men get in fender benders at a similar rate, but the men tend to have more serious accidents. In addition to higher claims, males also get cited for more serious violations like driving under the influence (DUI).

The following companies can provide comparison quotes in Colorado. If the list has multiple companies, it's highly recommended you click on several of them to get the best price comparison.

Honda Insight Insurance Rates in Aurora, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $126 $296 $396 $24 $118 $960 $80
Insight EX $260 $630 $396 $24 $118 $1,428 $119
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Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Price estimates do not factor in Aurora location which can modify prices greatly.

Analysis of deductible levels

The illustration below demonstrates how choosing different deductibles and can change Honda Insight insurance premiums for each age group. The data is based on a married male driver, comp and collision included, and no discounts are applied to the premium.

Comparison of full coverage and liability-only policies

The illustration below visualizes the comparison of Honda Insight insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no accidents or driving violations, $250 deductibles, married female driver, and no additional discounts are factored in.

When to drop full coverage

There is no set rule that is best for determining when to drop physical damage insurance, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.

For example, let's assume your Honda Insight book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,000 after paying the physical damage deductible. If it's costing you more than $400 annually for comprehensive and collision coverage, then it's probably a good time to buy liability coverage only.

There are some circumstances where dropping full coverage is not advised. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Analysis of deductible levels

One frequently asked question is how high should the physical damage coverage deductibles be. The premium rates below sum up how much more rates are between low and high policy deductibles. The first data table uses a $250 comprehensive and collision deductible and the second rate table uses a $500 deductible.

Honda Insight insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $236 $458 $352 $20 $106 $1,197 $100
Insight EX $272 $538 $352 $20 $106 $1,313 $109
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Honda Insight insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $192 $368 $352 $20 $106 $1,038 $87
Insight EX $220 $434 $352 $20 $106 $1,132 $94
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Price information does not factor in specific zip code location which can increase or decrease coverage rates considerably.

We can estimate from the data above that using a $250 deductible costs an average of $14 more each month or $168 a year than buying the higher $500 deductible. Because you would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you average more than 18 months between claims, you would probably be better off if you elect the higher deductible.

Calculate savings of higher deductibles

Average monthly premium for $250 deductibles: $105
Average monthly premium for $500 deductibles (subtract): - $91
Monthly savings from raising deductible: $14
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $14
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

Three main reasons to buy insurance

Despite the high cost, insurance is mandatory in Colorado but it also protects more than you think.

First, almost all states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection if you don't want to risk a ticket. 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 have a lien on your car, most banks will have a requirement that you carry insurance to ensure they get paid if you total the vehicle. If coverage lapses or is cancelled, the lender will be forced to insure your Honda for a much higher rate and require you to pay a much higher amount than you were paying before.

Third, insurance preserves not only your Honda but also your assets. Insurance will also pay for many types of medical costs incurred in an accident. One policy coverage, liability insurance, will also pay to defend you if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance greatly outweigh the cost, particularly for liability claims. According to a recent study, the average American driver is wasting up to $855 a year so we recommend shopping around once a year at a minimum to ensure rates are competitive.

Get cheaper rates by taking advantage of discounts

Buying car insurance is not cheap, but companies offer discounts that many consumers don't even know exist. A few discounts will automatically apply at the time you complete a quote, but less common discounts must be manually applied prior to getting the savings.Save money with discounts

Remember that some credits don't apply the the whole policy. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Despite the appearance that adding up those discounts means a free policy, you won't be that lucky.

Companies and a selection of discounts are included below.

When comparing rates, check with all companies you are considering to give you their best rates. Some credits might not apply in Aurora.

Insurance quotes from local Aurora insurance agencies

Some people prefer to talk to an insurance agent and doing that can be a smart decision Good insurance agents can help you build your policy and help in the event of a claim. One of the benefits of price shopping on the web is that you can obtain cheaper premium rates and still have an agent to talk to.

Once you complete this short form, your insurance coverage information is submitted to participating agents in Aurora that can give you free Aurora car insurance quotes for your insurance coverage. It simplifies rate comparisons since you won't have to find an agent on your own since rate quotes are delivered immediately to your email address. If for some reason you want to quote rates from one company in particular, feel free to find their quoting web page and complete a quote there.

Finding the right provider shouldn't rely on just a cheap price. Any agent in Aurora should have no problem answering these questions:

Choose the right car insurance agent

If you prefer to buy insurance from a local insurance agency, it can be helpful to understand the types of agencies and how they operate. Insurance agents are considered either exclusive or independent. Either can handle insurance, but we need to point out the difference between them since it can impact the type of agent you choose.

Exclusive Insurance Agencies

Exclusive agents write business for a single company such as Allstate, AAA, Farmers Insurance, and State Farm. They generally cannot place coverage with different providers so they have to upsell other benefits. Exclusive agents receive a lot of sales training on the products they sell and that enables them to sell even at higher rates. Consumers often buy from the same agent for years mostly because of the brand name rather than having the cheapest rates.

Shown below is a list of exclusive insurance agencies in Aurora that can give you comparison quotes.

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Independent Agents

Agents that elect to be independent can quote rates with many companies and that is an advantage because they can write policies with many different companies and get the cheapest rates. If you are not satisfied with one company, they simply switch companies in-house and you don't have to do anything.

When comparing insurance prices, you should always check rates from multiple independent agents for the best price selection. Many can place coverage with smaller mutual companies that may have much lower rates than larger companies.

Listed below are independent insurance agents in Aurora willing to provide price quote information.

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Don't assume everyone needs the same car insurance coverage

When choosing insurance from an agent or online, there really isn't a one-size-fits-all type of policy. Coverage needs to be tailored to your specific needs.Higher deductibles save money

For instance, these questions can aid in determining if your insurance needs would benefit from professional advice.

If you're not sure about those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form. It's fast, free and can provide invaluable advice.

In Summary

Consumers who switch companies do it for many reasons like questionable increases in premium, being labeled a high risk driver, an unsatisfactory settlement offer and delays in responding to claim requests. It doesn't matter what your reason, choosing a new insurance company can be less work than you think.

Discount Honda Insight insurance in Aurora is available from both online companies in addition to local insurance agencies, and you need to comparison shop both to have the best chance of lowering rates. There are still a few companies who do not offer internet price quotes and most of the time these small insurance companies sell through independent agents.

We just showed you a lot of information how to shop for Honda Insight insurance online. The most important thing to understand is the more providers you compare, the better your chances of lowering your premium rates. Consumers may even find the lowest car insurance rates are with the smaller companies.

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