Being forced to pay for expensive car insurance premiums can take a big chunk out of your funds and maybe even restrict other spending. Price shopping at each renewal can lower your rates and help to reduce premiums and put more money in your pocket.
Astonishing but true, most car insurance customers kept their policy with the same company for more than four years, and 38% of customers have never shopped around. The average driver in Colorado could save almost 35% every year just by shopping around, but they just don't understand the large savings they would see if they moved their coverage to a different company. You have so many auto insurance companies to insure vehicles with, and although it's a good thing to have a selection, it can be more challenging to compare rates and cut insurance costs.
Finding the cheapest car insurance coverage in Denver can be much easier if you know how to start. If you are insured now, you will surely be able to save money using this information. Smart shoppers just need to use the best way to get comparison quotes from many different companies.
Lower Your Denver Insurance Prices
Multiple criteria are taken into consideration when you get your auto insurance bill. Some of the criteria are obvious such as your driving history, although others are not quite as obvious like your continuous coverage or your commute time. A large part of saving on car insurance is knowing the rating factors that help calculate car insurance rates. If you know what controls the rates you pay, this allows you to make good choices that could help you find better car insurance rates.
- Insurance costs and vehicle performance - The performance level of the car you need to insure makes a big difference in your premium level. The best insurance prices are for the lowest performance passenger vehicles, but there are many factors that impact the final cost. Since the Chevrolet Traverse is classified as a crossover, insuring your vehicle will cost slightly more than the average rate where you live in Denver.
- Safer vehicles save money - Safer cars get lower rates. The safest vehicles result in less severe injuries and fewer serious injuries means your insurance company pays less and cheaper rates on your policy. If the Chevy Traverse scored better than four stars on Safercar.gov or an "acceptable" rating on iihs.org it may be receiving lower rates.
- Women tend to cost less - Statistics have proven that females take fewer risks when driving. The data does not necessarily mean that women are better drivers. Women and men cause auto accidents at about the same rate, but the men cause more damage and cost insurance companies more money. They also have more aggressive citations like DUI and reckless driving.
- More people means more accidents - Residing in less populated areas can be a good thing if you are looking for the lowest rates. Fewer drivers on the road means a lower chance of having an accident and a lower car theft rate. Urban drivers regularly have congested traffic and longer commutes to work. Longer commute distances translates into higher accident risk.
- Chevy Traverse statistical loss data - Car insurance companies analyze past claim statistics when they set coverage costs for each model. Vehicles that statistically have higher prevalence or dollar amount of losses will cost more for coverage. The data below shows the insurance loss data for Chevy Traverse vehicles.
For each coverage type, the statistical loss for all vehicles combined as an average is set at 100. Values that are 100 or less suggest a better than average loss history, while numbers that are greater than 100 indicate more frequent claims or an increased likelihood of larger losses.
Insurance Loss Ratings for Chevrolet Traverse Vehicles
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Traverse 4dr 2WD 75 101 72 93 90 90 Chevrolet Traverse 4dr 4WD 72 91 82 78 76 78
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The companies shown below are our best choices to provide free quotes in Denver, CO. If the list has multiple companies, we suggest you get price quotes from several of them to get the lowest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Traverse LS 2WD||$130||$200||$286||$16||$86||$718||$60|
|Traverse LS AWD||$294||$440||$314||$18||$94||$1,160||$97|
|Traverse LT 2WD||$298||$368||$304||$18||$92||$1,080||$90|
|Traverse LT AWD||$238||$388||$286||$16||$86||$1,014||$85|
|Traverse LTZ 2WD||$350||$458||$392||$24||$118||$1,342||$112|
|Traverse LTZ AWD||$192||$306||$280||$16||$84||$878||$73|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Premium costs do not factor in garaging location in Denver which can revise insurance rates significantly.
Higher deductibles save money
The example below highlights how deductible choice and can impact Chevrolet Traverse insurance premiums for different age groups. The data is based on a married female driver, comprehensive and collision coverage, and no discounts are applied.
Male drivers compared to female drivers
The example below illustrates the comparison of Chevrolet Traverse insurance costs for male and female drivers. The information is based on no driving violations, no at-fault accidents, full physical damage coverage, $250 deductibles, drivers are not married, and no discounts are applied.
Three good reasons to insure your Traverse
Despite the fact that insurance is not cheap in Denver, insuring your vehicle is not optional due to several reasons.
- Just about all states have minimum liability requirements which means the state requires a minimum amount of liability 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 have a lien on your Traverse, most lenders will require that you have physical damage coverage to guarantee their interest in the vehicle. If you let the policy lapse, the lender may have to buy a policy to insure your Chevy for a lot more money and force you to reimburse them much more than you were paying before.
- Insurance protects not only your car but also your assets. Insurance will pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to have it repaired.
The benefits of carrying adequate insurance outweigh the cost, specifically if you ever have a liability claim. Today the average American driver is currently overpaying as much as $855 a year so it's recommended you shop around every year to save money.
Don't overlook these Chevy Traverse insurance discounts
Insurance is not cheap nor is it fun to buy but discounts can save money and there are some available to help bring down the price. Certain credits will be shown when you purchase, but occasionally some discounts must be specifically requested in order for you to get them.
- Discounts for New Vehicles - Buying a new car model may earn a small discount due to better safety requirements for newer vehicles.
- Accident-Free Discounts - Insureds with no claims or accidents can save substantially when compared to bad drivers.
- Anti-lock Brakes - Vehicles with ABS and/or traction control can reduce accidents and earn discounts up to 10%.
- Seat Belts Save more than Lives - Buckling up and requiring all passengers to fasten their seat belts could cut 10% or more on the premium charged for medical payments and/or PIP.
- Distant College Student Discount - Older children who are enrolled in a college that is more than 100 miles from Denver and do not have a car could get you a discount.
- Safe Driver Discounts - Safe drivers can save up to 40% or more on their Denver auto insurance quote than their less cautious counterparts.
While discounts sound great, it's important to understand that some credits don't apply to all coverage premiums. Some only reduce the cost of specific coverages such as medical payments or collision. Just because it seems like all those discounts means the company will pay you, that's just not realistic.
A few companies that have many of the previously listed discounts include:
Before buying, ask every insurance company the best way to save money. Depending on the company, some discounts might not be offered in your area. To locate providers with the best discounts in Denver, click this link.
Independent and exclusive car insurance agents
Some consumers prefer to buy from a licensed agent and doing that can be a smart decision Licensed agents are very good at helping people manage risk and help you file claims. One of the best bonuses of comparing insurance prices online is the fact that drivers can get cheap rate quotes but still work with a licensed agent.
To make it easy to find an agent, after completing this form (opens in new window), your information is submitted to insurance agents in Denver who want to provide quotes and help you find cheaper coverage. You never need to drive around because prices are sent immediately to your email address. If for some reason you want to compare prices from a specific company, just find their quoting web page and submit a quote form there.
Finding the right company is decision based upon more than just a cheap price quote. Here are some questions you should ask.
- Does the agent have professional designations like CIC, CPCU or AIC?
- Is the agency covered by Errors and Omissions coverage?
- Do they offer accident forgiveness?
- Do they have any clout with companies to ensure a fair claim settlement?
- Do they have cheaper tiers of coverage?
- Does the agency provide any after hours assistance?
If you would like to find a local Denver insurance agency, it's important to understand the different types of agents and how they differ in how they quote coverages. Agencies in Denver are considered either independent agents or exclusive agents depending on their employer. Both insure your vehicles properly, but it is important to understand why they differ since it may influence your agent selection.
Agents of this type have only one company to place business with and some examples include State Farm, Allstate and AAA. These agents are not able to provide prices from multiple companies so they have to upsell other benefits. Exclusive agents receive extensive training in insurance sales which can be an advantage.
Listed below is a short list of exclusive agencies in Denver that can give you rate quotes.
Tammy Hill - State Farm Insurance Agent
4650 Tower Rd Unit 101 - Denver, CO 80249 - (303) 373-9500 - View Map
Independent Insurance Agencies
Agents that choose to be independent often have many company appointments so they can write business with an assortment of companies and possibly get better coverage at lower prices. If they find a cheaper price, the agent simply finds a different carrier and that require little work on your part. When shopping rates, we highly recommend that you include at least one independent agent in order to have the best price comparison.
Listed below is a list of independent insurance agencies in Denver who can help you get price quotes.
Everyone needs different auto insurance coverages
When it comes to choosing coverage online or from an agent, there really isn't a one-size-fits-all type of policy. Everyone's needs are different.
For instance, these questions could help you determine whether you would benefit from professional advice.
- When should I remove my kid from my policy?
- Are combined or split liability limits better?
- What are the best liability limits?
- Is my Chevy Traverse covered for smoke damage?
- Do I need PIP coverage since I have good health insurance?
- Do I need medical payments coverage since I have good health insurance?
- Who sells insurance for high-risk drivers?
If you don't know the answers to these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form. It's fast, free and can provide invaluable advice.
Shop around and save
We just covered a lot of techniques to lower your Chevy Traverse insurance rates in Denver. The key concept to understand is the more times you quote, the better likelihood of getting cheaper Denver auto insurance quotes. Consumers could even find that the best rates are with an unexpected company.
More affordable insurance in Denver is possible from both online companies in addition to local insurance agencies, and you should be comparing both to have the best rate selection. A few companies may not provide online rate quotes and these regional carriers sell through independent agents.
Drivers switch companies for many reasons like delays in paying claims, denial of a claim, poor customer service or high prices. It doesn't matter why you want to switch switching companies can be pretty painless.
More tips and info about insurance is available in these articles:
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Who Has Affordable Car Insurance Quotes for Drivers Over Age 50 in Colorado? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Seniors in Colorado? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for a Chevrolet Cruze? (FAQ)
- What Auto Insurance is Cheapest in Security-Widefield, Colorado? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Airbag FAQ (iihs.org)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Warning systems don't curb driver distraction (Insurance Institute for Highway Safety)