Want to learn how to buy cheaper insurance rates in Denver, CO? Denver drivers have options when trying to find low-cost BMW X1 insurance. You can either waste hours calling around getting price quotes or leverage the internet to make rate comparisons. There is a better way to find insurance online and you need to know the proper way to price shop coverage for a new or used BMW and get the cheapest rates from Denver insurance agents and online providers.
It is always a good idea to price shop coverage as often as possible since insurance prices change frequently. Even if you think you had the best rate on BMW X1 insurance in Denver at your last renewal there may be better deals available now. Ignore everything you know about insurance because you're about to learn the things you must know in order to save money, get proper deductibles and limits, all at the lowest rate.
Finding cheap Denver insurance quotes is an easy way to save money. All that's required is to invest a few minutes to compare rates from different insurance companies.
The auto insurance companies shown below provide price quotes in Denver, CO. If more than one company is shown, we suggest you visit several of them to get a more complete price comparison.
Car insurance is an important decision
Despite the high insurance cost for a BMW X1 in Denver, maintaining insurance may be required for several reasons.
First, the majority of states have mandatory insurance requirements which means you are required to carry a specific minimum amount of liability insurance 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.
Second, if you have a loan on your car, more than likely the lender will force you to have comprehensive coverage to ensure loan repayment if the vehicle is totalled. If you do not pay your insurance premiums, the bank may insure your BMW for a lot more money and require you to pay for the expensive policy.
Third, insurance safeguards both your BMW and your personal assets. It also can pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance will also pay for a defense attorney if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of insuring your car greatly outweigh the cost, specifically if you ever have a liability claim. As of last year, the average driver in Colorado overpays as much as $869 every year so smart consumers compare quotes at every policy renewal to save money.
Save money with these seven rate reducing discounts
The price of auto insurance can be rather high, but discounts can save money and there are some available that you may not know about. Most are applied at the time of purchase, but lesser-known reductions have to be specifically requested before you will receive the discount.
- Smart Student Discounts - A discount for being a good student can get you a discount of up to 25%. Earning this discount can benefit you up to age 25.
- Service Members Pay Less - Being deployed with a military unit could be rewarded with lower car insurance rates.
- Payment Discounts - If you can afford to pay the entire bill instead of monthly or quarterly installments you may reduce your total bill.
- One Accident Forgiven - This one isn't a discount, but a handful of insurance companies may permit one accident before they charge you more for coverage if you are claim-free for a specific time period.
- Anti-lock Brake System - Cars with ABS braking systems or traction control are much safer to drive so you can save 10 percent or more.
- Safety Restraint Discount - Drivers who require all vehicle occupants to buckle up may be able to save a few bucks on medical payment and PIP coverage.
- Drivers Education - Reduce the cost of insurance for teen drivers by having them participate in a local driver's education class in school or through a local driver safety program.
Remember that most discounts do not apply to all coverage premiums. Most only cut specific coverage prices like collision or personal injury protection. Even though it appears adding up those discounts means a free policy, it's just not the way it works.
Companies and a selection of discounts are detailed below.
- AAA offers premium reductions for good driver, good student, pay-in-full, education and occupation, multi-policy, anti-theft, and multi-car.
- Progressive has discounts for online quote discount, multi-policy, good student, homeowner, online signing, and continuous coverage.
- State Farm offers discounts including student away at school, good student, accident-free, driver's education, passive restraint, multiple policy, and defensive driving training.
- Esurance may include discounts for DriveSense, multi-policy, renters, anti-theft, Switch & Save, and paid-in-full.
- Nationwide policyholders can earn discounts including Farm Bureau membership, accident-free, family plan, anti-theft, defensive driving, and business or organization.
If you are trying to find affordable Denver auto insurance quotes, ask all companies you are considering how many discounts you can get. Discounts may not apply to policyholders in your area. To find companies with significant discounts in Colorado, follow this link.
You may want advice from an insurance agency
Many people still prefer to sit down and talk to an agent and that is recommended in a lot of cases Good agents are very good at helping people manage risk and give you someone to call. The best thing about comparing rate quotes online is you may find the best rates but still work with a licensed agent.
Upon completion of this form (opens in new window), your insurance coverage information gets sent to local insurance agents who want to provide quotes and help you find cheaper coverage. There is no need to search for an agent since price quotes are sent immediately to your email address. If you want to get a comparison quote from a specific auto insurance provider, you would need to go to their quote page and give them your coverage information.
Picking an insurance company requires you to look at more than just the bottom line cost. Before buying a policy in Denver, get answers to these questions.
- How does the company pay claims for a total loss?
- How much training do they have in personal risk management?
- What is their Better Business Bureau rating?
- Is the agent properly licensed in Colorado?
- In the event of vehicle damage, can you pick the collision repair facility?
- Where would glass claims be handled in Denver?
What car insurance coverages do you need?
Having a good grasp of car insurance aids in choosing appropriate coverage for your vehicles. The terms used in a policy can be confusing and reading a policy is terribly boring.
Liability auto insurance - Liability coverage protects you from damage or injury you incur to people or other property that is your fault. It protects YOU against claims from other people, and doesn't cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 25/50/15 that means you have $25,000 in coverage for each person's injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $15,000.
Liability insurance covers things such as repair costs for stationary objects, loss of income, court costs, attorney fees and medical expenses. How much liability should you purchase? That is a personal decision, but buy as large an amount as possible. Colorado requires drivers to carry at least 25/50/15 but drivers should carry more liability than the minimum.
UM/UIM (Uninsured/Underinsured Motorist) coverage - Your UM/UIM coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and damage to your BMW X1.
Due to the fact that many Colorado drivers carry very low liability coverage limits (25/50/15 in Colorado), their limits can quickly be used up. That's why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Collision coverage - This coverage will pay to fix damage to your X1 resulting from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like rolling your car, crashing into a building, sideswiping another vehicle, colliding with a tree and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Another option is to raise the deductible on your X1 to get cheaper collision coverage.
Medical payments and PIP coverage - Coverage for medical payments and/or PIP pay for immediate expenses such as doctor visits, X-ray expenses, funeral costs and prosthetic devices. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
Comprehensive auto coverage - Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against things like damage from flooding, damage from getting keyed, a broken windshield and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it's not worth much more than your deductible it's not worth carrying full coverage.
Cover all your bases
When getting Denver auto insurance quotes online, make sure you don't sacrifice coverage to reduce premiums. There have been many cases where someone dropped liability coverage limits to discover at claim time they didn't purchase enough coverage. Your focus should be to find the BEST coverage at the lowest possible cost, but don't skip important coverages to save money.
The cheapest BMW X1 insurance in Denver can be sourced online in addition to many Denver insurance agents, so you need to quote Denver auto insurance with both in order to have the best chance of saving money. Some insurance providers do not provide online rate quotes and most of the time these regional carriers provide coverage only through local independent agents.
Consumers leave their current company for many reasons like lack of trust in their agent, extreme rates for teen drivers, delays in responding to claim requests or even policy non-renewal. Regardless of your reason for switching companies, finding the right car insurance provider can be easy and end up saving you some money.
To read more, feel free to browse the following helpful articles:
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Who Has the Cheapest Colorado Auto Insurance Quotes for Drivers with Accidents? (FAQ)
- What Auto Insurance is Cheapest for Veterans in Colorado? (FAQ)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Tools for Teen Driving Safety (State Farm)