How long have you put off shopping around for low-cost Chevy Colorado insurance in Denver? Pricey car insurance in Denver can bottom out your personal savings and possibly require you to analyze your spending habits. Performing a price comparison is a smart way to lower your monthly bill.
Sadly, nearly 70% of drivers kept buying from the same company for a minimum of four years, and about 40% of consumers have never shopped around. Colorado consumers could save themselves up to 35% a year, but they just don't understand how easy it is to find lower-cost rates by getting comparison quotes. Multiple insurers compete for your insurance dollar, so it's not easy to compare every provider and get the definite best price available on Chevy Colorado insurance in Denver.
If you already have coverage or are looking for a new policy, you can use this information to lower your rates and still have adequate protection. Finding the cheapest auto insurance coverage in Denver can be easy if you know a few tricks. Smart shoppers just have to know the most time-saving way to buy auto insurance over the internet.
Ways to get Chevy Colorado insurance price quotes in Denver
Finding a better price on car insurance can be relatively painless. Consumers just need to spend a few minutes to get quotes from online providers.
Doing online quotes comparisons is so easy that it makes it a waste of time to drive around to insurance agencies in your area. Quoting Chevy Colorado insurance online eliminates the need for an insurance agent unless you have a need for the extra assistance of a local agency. Drivers can obtain prices from the web but have a local agent actually write the policy.
The companies shown below are ready to provide price comparisons in Denver, CO. If multiple companies are shown, we recommend you visit several of them to find the most affordable auto insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Colorado LT 2WD||$158||$342||$456||$28||$136||$1,120||$93|
|Colorado LT Extended Cab 2WD||$262||$562||$474||$28||$142||$1,468||$122|
|Colorado LT 4WD||$292||$552||$404||$24||$120||$1,392||$116|
|Colorado LT Crew Cab 2WD||$166||$362||$396||$24||$118||$1,066||$89|
|Colorado LT Extended Cab 4WD||$112||$196||$280||$16||$84||$688||$57|
|Colorado LT Crew Cab 4WD||$190||$362||$314||$18||$94||$978||$82|
|Get Your Own Custom Quote Go|
Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Estimates do not factor in vehicle location which can influence prices significantly.
Full coverage versus liability-only
The example below illustrates the difference between Chevrolet Colorado car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no violations or accidents, $500 deductibles, married female driver, and no discounts are applied.
When to eliminate full coverage
There is no definitive guideline that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let's assume your Chevrolet Colorado book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $2,000 after you pay the deductible. If premium cost is more than $200 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are some circumstances where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
Three good reasons to insure your Chevy vehicle
Even though it can be expensive, auto insurance is required for several reasons.
- Almost all states have minimum liability requirements which means state laws require a specific minimum amount of liability insurance in order to be legal. 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 took out a loan on your Chevy, almost all lenders will have a requirement that you buy insurance to ensure loan repayment if the vehicle is totalled. If you let the policy lapse, the bank will be required to insure your Chevy at a significantly higher premium and force you to pay much more than you were paying before.
- Auto insurance preserves not only your vehicle but also your assets. It will also provide coverage for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your Chevy gets damaged, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of insuring your Colorado definitely exceed the cost, specifically if you ever have a liability claim. The average driver in America is currently overpaying as much as $825 a year so shop around at every policy renewal to ensure rates are competitive.
Brand name doesn't guarantee savings
Colorado consumers constantly see and hear ads for the lowest price insurance from companies such as State Farm and Allstate. They all tend to make the same promise that people will save if you move to their company.
Is it even possible that every company can give you a better price on Chevy Colorado insurance in Denver? It's all in the numbers.
Different companies have a preferred profile for the type of insured that earns them the highest profit. For example, this type of risk profile might be described as between the ages of 30 and 50, has no prior claims, and drives newer vehicles. Anybody who meets those qualifications will get a cheap rate quote in Denver and will most likely save quite a bit of money when switching.
People who don't measure up to the "perfect" profile must pay a more expensive rate which leads to business not being written. The trick companies use is to say "drivers who switch" not "everybody who quotes" can get the lowest rates when switching. That is how companies can truthfully advertise the way they do.
That is why it is so important to get a wide range of price quotes. It's impossible to know with any certainty which company will give you the biggest savings.
Take these five policy discounts and save on Chevy Colorado insurance in Denver
Companies that sell car insurance do not advertise their entire list of discounts very clearly, so the following list contains a few of the more well known and the harder-to-find discounts that you may qualify for.
- Pay Upfront and Save - If you can afford to pay the entire bill instead of monthly or quarterly installments you can actually save on your bill.
- Anti-theft Discount - Cars and trucks equipped with anti-theft or alarm systems can help prevent theft and will qualify for a discount on a Denver car insurance quote.
- Auto/Home Discount - When you combine your auto and home insurance with one company you will save over 10 percent off each policy depending on the company.
- One Accident Forgiven - This one isn't a discount, but companies like GEICO, Allstate and Liberty Mutual will turn a blind eye to one accident before hitting you with a surcharge if you have no claims prior to the accident.
- Passive Restraints and Air Bags - Vehicles equipped with air bags or motorized seat belts may qualify for discounts of up to 25% or more.
One thing to note about discounts is that some of the credits will not apply the the whole policy. Most only cut specific coverage prices like medical payments or collision. Despite the appearance that adding up those discounts means a free policy, it doesn't quite work that way. Any qualifying discounts should help lower the cost of coverage.
For a list of insurance companies with the best discounts in Denver, click this link.
Local Denver insurance agents and car insurance
Certain consumers would rather sit down with an agent and that can be a great decision Insurance agents are trained risk managers and will help you if you have claims. A good thing about getting free rate quotes online is the fact that you can find cheap rate quotes but still work with a licensed agent. And buying from local agencies is important especially in Denver.
For easy comparison, once you complete this quick form, your coverage information is emailed to participating agents in Denver who will give you bids for your car insurance coverage. You never need to find an agent on your own because prices are sent to your email. If you wish to compare prices from a specific insurance company, don't hesitate to navigate to their website and give them your coverage information.
The difference between Denver auto insurance agents
When narrowing the list to find a reliable agent, it's helpful to know the types of agencies that differ in how they can insure your vehicles. Car insurance agents are either exclusive agents or independent agents. Both types of agents can do a good job, but it's worth learning the differences because it can influence your selection of an agent.
These agents are not employed by any specific company so they can write business with multiple insurance companies and potentially find a lower price. If you are not satisfied with one company, an independent agent can move your coverage and you don't have to do anything.
When comparing car insurance rates, it's a good idea to compare prices from at a minimum one independent agency to get the best comparison.
Featured below are Denver independent insurance agents who can help you get price quote information.
Exclusive insurance agents can usually just insure with one company like AAA, Allstate, and State Farm. They generally cannot give you multiple price quotes so always compare other rates. These agents are usually well trained on the products they sell which helps them sell on service rather than price.
The following is a short list of exclusive insurance agencies in Denver that are able to give price quotes.
Picking an insurance agency needs to be determined by more than just the price. Any agent in Denver should be willing to answer these questions.
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- How are they compensated?
- How many years of experience in personal auto insurance do they have?
- How are claims handled?
- How often do they review policy coverages?
- Who are their largest clients?
Detailed coverages of your insurance policy
Having a good grasp of insurance aids in choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. Shown next are the usual coverages offered by insurance companies.
Liability coverages - Liability insurance can cover damage that occurs to other people or property. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 25/50/15 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $15,000 for damage to vehicles and property. Alternatively, you may have a combined limit that pays claims from the same limit without having the split limit caps.
Liability insurance covers things like legal defense fees, medical services and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible. Colorado requires minimum liability limits of 25/50/15 but it's recommended drivers buy more liability than the minimum.
Comprehensive protection - This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things like hitting a bird, rock chips in glass, damage from getting keyed and hail damage. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle's value is low it's probably time to drop comprehensive insurance.
Collision coverage - This coverage pays to fix your vehicle from damage from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision can pay for things such as sideswiping another vehicle, backing into a parked car, colliding with another moving vehicle, hitting a parking meter and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to choose a higher deductible on your Colorado to save money on collision insurance.
Uninsured or underinsured coverage - This protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle's occupants and also any damage incurred to your Chevy Colorado.
Since a lot of drivers carry very low liability coverage limits (Colorado limits are 25/50/15), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these coverages are identical to your policy's liability coverage.
Medical expense coverage - Coverage for medical payments and/or PIP reimburse you for immediate expenses for things like dental work, ambulance fees, funeral costs, nursing services and surgery. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Persistence pays off
When you buy Denver car insurance online, it's a bad idea to buy poor coverage just to save money. There are a lot of situations where someone dropped liability coverage limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
Budget-conscious Chevy Colorado insurance is definitely available from both online companies and also from your neighborhood Denver agents, and you need to comparison shop both so you have a total pricing picture. Some insurance companies do not provide price quotes online and most of the time these small, regional companies prefer to sell through independent agents.
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