Searching for the cheapest insurance rates in Westminster, CO? Frustrated by the dozens of insurance choices in your area? Drivers have so many options that it can turn into hard work to find a more affordable company. Everyone knows Westminster is a good city to live in, but high insurance premiums can make it hard for many drivers to purchase enough protection.
Unfortunately, a large majority of insurance policyholders kept their coverage with the same insurance company for at least four years, and practically 40% of insurance customers have never quoted insurance rates at all. Drivers in Westminster can save hundreds of dollars each year by just comparing quotes, but they just don't understand how much money they would save if they moved their coverage to a different company.
You should make it a habit to compare premium rates yearly since insurance prices are adjusted regularly by insurance companies. If you had the best price on insurance two years ago you can probably find a better rate quote now. Ignore everything you know about insurance because we're going to demonstrate one of the best ways to buy cheaper insurance.
Get cheaper rates by taking advantage of these six discounts
Some companies don't list every discount they offer in an easy-to-find place, so the following list contains some of the best known and also the more inconspicuous credits that you can use to lower your rates. If you do not double check each discount possible, you may be paying too high a price.
- Membership in Organizations - Being in a professional or civic organization could trigger savings on your bill.
- Defensive Driver - Successfully completing a course that instructs on driving safety could earn you a small percentage discount if you qualify.
- Multi-Vehicle Discounts - Having multiple cars on a single policy may reduce the rate for each vehicle.
- Low Mileage - Driving less could qualify for lower premium rates on the low mileage vehicles.
- Discount for Good Grades - Maintaining excellent grades may save you up to 25%. The good student discount can last well after school through age 25.
- Discount for Swiching Early - A few companies offer discounts for signing up before your current coverage expires. It could save around 10% when you buy Westminster auto insurance online.
It's important to understand that many deductions do not apply to all coverage premiums. Most only apply to individual premiums such as liability and collision coverage. Despite the appearance that you would end up receiving a 100% discount, you won't be that lucky.
Larger insurance companies and their possible discounts can be found below.
- GEICO may offer discounts for five-year accident-free, emergency military deployment, anti-theft, daytime running lights, membership and employees, and air bags.
- Auto-Owners Insurance offers discounts for teen driver, company car, group or association, multiple vehicles, safe driver, and safe vehicle.
- American Family has savings for multi-vehicle, good driver, defensive driver, mySafetyValet, and bundled insurance.
- Esurance has discounts for anti-theft, emergency road assistance, multi-policy, multi-car, and Pac-12 alumni.
- Progressive offers premium reductions for online signing, good student, homeowner, continuous coverage, and multi-vehicle.
- State Farm may have discounts that include driver's education, Steer Clear safe driver discount, good driver, passive restraint, and multiple policy.
- AAA policyholders can earn discounts including anti-theft, pay-in-full, multi-policy, education and occupation, AAA membership discount, and good driver.
When getting a coverage quote, ask each insurance company which discounts they offer. Discounts may not apply to policies in your area.
Many insurance companies such as State Farm and Allstate give pricing direct online. Doing online price comparisons is quite simple as you just enter your required coverages into the quote form. After the form is submitted, the company's rating system automatically orders credit information and your driving record and generates a price based on the data you entered.
Getting online quotes makes comparing rates easy, and it's necessary to compare as many rates as possible if you want to find affordable rates.
To find out if lower rates are available, compare quotes from the companies shown below. If you have your current policy handy, we recommend you replicate your coverages exactly as they are listed on your policy. Using the same limits helps guarantee you will have an apples-to-apples comparison based on similar coverages.
The companies in the list below can provide price quotes in Colorado. If multiple providers are shown, we recommend you compare several of them in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Impala LTZ||$1,296||$648||$108|
|Chevrolet Malibu LT||$1,132||$566||$94|
|Chevrolet Silverado LT Crew Cab 2WD||$1,382||$691||$115|
|Dodge Ram Quad Cab SLT 4WD||$1,066||$533||$89|
|Ford Escape XLS 2WD||$788||$394||$66|
|Ford F-150 Lariat King Ranch 4WD||$1,554||$777||$130|
|Ford Focus SEL 4-Dr Sedan||$1,268||$634||$106|
|GMC Sierra SL Crew Cab 2WD||$1,292||$646||$108|
|Honda Accord LX-S 2-Dr Coupe||$1,084||$542||$90|
|Honda CR-V EX 2WD||$870||$435||$73|
|Honda Civic Hybrid 4-Dr Sedan||$1,178||$589||$98|
|Honda Odyssey EX-L W/Rear Entertainment||$1,280||$640||$107|
|Hyundai Elantra SE 4-Dr Sedan||$956||$478||$80|
|Hyundai Sonata SE 4-Dr Sedan||$1,224||$612||$102|
|Nissan Altima 2.5 4-Dr Sedan||$1,248||$624||$104|
|Toyota Camry LE||$1,064||$532||$89|
|Toyota Corolla S||$1,312||$656||$109|
|Toyota Tacoma X-Runner 2WD||$982||$491||$82|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rate quotes do not factor in specific garaging location which can decrease or increase rates substantially.
Rate difference between full and liability-only coverage
The chart below shows the comparison of Chevrolet Tahoe car insurance costs when comparing full coverage to state minimum liability only. The rates are based on no driving violations, no at-fault accidents, $500 deductibles, married male driver, and no policy discounts are applied.
Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.
Are you wasting money on full coverage?
There is no clear-cut formula of when to eliminate physical damage coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let's say your Chevrolet Tahoe book value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after you pay the deductible. If you are paying in excess of $400 annually for full coverage, then it could be time to drop full coverage.
There are some circumstances where eliminating full coverage is not financially feasible. If you haven't paid off your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Physical damage deductibles
When buying auto insurance, a common question is what deductibles to buy. The comparison tables below can help illustrate the rate difference when you choose different physical damage coverage deductibles. The first rate table uses a $100 deductible for physical damage and the second data table uses a $500 deductible.
Hyundai Elantra rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Elantra GLS Touring Station Wagon||$264||$448||$298||$18||$90||$1,143||$95|
|Elantra Blue 4-Dr Sedan||$264||$644||$352||$20||$106||$1,411||$118|
|Elantra GLS 4-Dr Sedan||$302||$644||$352||$20||$106||$1,449||$121|
|Elantra SE 4-Dr Sedan||$302||$644||$352||$20||$106||$1,449||$121|
|Elantra SE Touring Station Wagon||$302||$546||$298||$18||$90||$1,279||$107|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Elantra GLS Touring Station Wagon||$192||$304||$298||$18||$90||$902||$75|
|Elantra Blue 4-Dr Sedan||$192||$434||$352||$20||$106||$1,104||$92|
|Elantra GLS 4-Dr Sedan||$220||$434||$352||$20||$106||$1,132||$94|
|Elantra SE 4-Dr Sedan||$220||$434||$352||$20||$106||$1,132||$94|
|Elantra SE Touring Station Wagon||$220||$368||$298||$18||$90||$994||$83|
|Get a Quote for Your Vehicle Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Prices do not factor in specific zip code location which can influence premium rates significantly.
We can derive from the above data that using a $100 deductible costs roughly $24 more each month or $288 annually than selecting the higher $500 deductible. Because you would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally average at a minimum 17 months between claims, you would probably save some money by going with a higher deductible.
How to calculate if higher deductibles make sense
|Average monthly premium for $100 deductibles:||$112|
|Average monthly premium for $500 deductibles (subtract):||- $88|
|Monthly savings from raising deductible:||$24|
|Difference between deductibles ($500 - $100):||$400|
|Divide difference by monthly savings:||$400 / $24|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||17 months|
Neighborhood Westminster auto insurance agents
A small number of people would prefer to get advice from a local agent and that is a smart decision One of the benefits of price shopping on the web is that drivers can save money and get the best rates but still work with a licensed agent. Supporting small agencies is definitely important in Westminster.
After completing this quick form, your insurance coverage information is immediately sent to insurance agents in Westminster who will return price quotes to get your business. There is no need to search for an agent as quotes are delivered straight to your inbox. You can get cheaper car insurance rates and work with a local agent. If you need to get a price quote from a particular provider, don't hesitate to visit that company's website and fill out the quote form the provide.
If you would like to find an insurance agent, it's important to understand the different agency structures that differ in how they can insure your vehicles. Agencies in Westminster are considered either independent agents or exclusive agents.
Independent Car Insurance Agencies or Brokers
Agents that elect to be independent often have many company appointments so they can quote policies through lots of different companies and find the cheapest rate. If they quote lower rates, they simply move your policy to a different company and that require little work on your part.
When searching for an agent, you definitely need to include rate quotes from multiple independent agents so that you have a good selection of quotes to compare. Most can insure with small mutual carriers which can save you money.
These agents can only write with one company such as State Farm or Allstate. Exclusive agencies are unable to provide prices from multiple companies so keep that in mind. Exclusive agencies are highly trained on their company's products which can be an advantage. Some insured continue to use the same agent mainly due to the prominence of the brand rather than having the cheapest rates.
Finding a good car insurance agent requires you to look at more than just a cheap quote. Here are some questions you might want to ask.
- Do they have cheaper tiers of coverage?
- Are they giving you every discount you deserve?
- Is the agent and/or agency licensed to do business in Colorado?
- Will their companies depreciate repairs to your car based on the mileage?
- Is assistance available after office hours?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
Specifics of your car insurance policy
Knowing the specifics of a car insurance policy can help you determine the best coverages and proper limits and deductibles. Car insurance terms can be difficult to understand and coverage can change by endorsement.
Collision - This coverage pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for things such as damaging your car on a curb, rolling your car and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.
Liability coverages - Liability coverage will cover injuries or damage you cause to other's property or people in an accident. It protects YOU against claims from other people, and doesn't cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/15 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $15,000 of coverage for damaged propery. Another option is one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage pays for claims such as medical expenses, loss of income, funeral expenses and court costs. How much coverage you buy is a decision to put some thought into, but you should buy as high a limit as you can afford. Colorado state minimum liability requirements are 25/50/15 but you should consider buying better liability coverage.
Insurance for medical payments - Coverage for medical payments and/or PIP provide coverage for immediate expenses like EMT expenses, funeral costs, X-ray expenses, chiropractic care and doctor visits. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to both the driver and occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance - This gives you protection when the "other guys" do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle's occupants as well as damage to your vehicle.
Since many Colorado drivers have only the minimum liability required by law (25/50/15 in Colorado), it only takes a small accident to exceed their coverage. That's why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently the UM/UIM limits do not exceed the liability coverage limits.
Comprehensive coverage (or Other than Collision) - Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like rock chips in glass, theft, fire damage, hitting a deer and a tree branch falling on your vehicle. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it's probably time to drop comprehensive insurance.
You can find cheap coverage
Drivers leave their current company for a variety of reasons including questionable increases in premium, lack of trust in their agent, policy non-renewal and even policy cancellation. Regardless of your reason for switching companies, switching auto insurance companies is actually quite simple.
When trying to cut insurance costs, it's not a good idea to reduce needed coverages to save money. In too many instances, an insured cut uninsured motorist or liability limits to discover at claim time they didn't purchase enough coverage. Your aim should be to get the best coverage possible at the lowest possible cost while not skimping on critical coverages.
The cheapest auto insurance in Westminster can be sourced both online as well as from insurance agents, and you should be comparing both to have the best selection. Some insurance companies don't offer rates over the internet and usually these small insurance companies prefer to sell through local independent agents.
Additional detailed information can be read in the articles below:
- Teen Driving Statistics (iihs.org)
- Who Has Cheap Colorado Car Insurance Rates for Good Students? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for Young Drivers? (FAQ)
- Who Has Affordable Colorado Car Insurance Rates for a Company Car? (FAQ)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)