Do you want lower-priced Honda HR-V insurance in Denver? Being forced to pay for overpriced car insurance premiums can bottom out your family's budget and maybe even restrict other spending.
Amazingly, a recent NerdWallet.com study showed that most car insurance customers renewed their policy with the same company for a minimum of four years, and practically 40% of car insurance customers have never compared rates to find cheap insurance. Many consumers in Colorado could save nearly $605 each year by just shopping around, but most just don't grasp the rate savings if they changed companies. People have multiple insurance companies to insure vehicles with, and although it's nice to have a choice, more options can take longer to find the best rates for Honda HR-V insurance in Denver.
This article's intent is to teach you how to effectively get price quotes and how to save the most money. If you currently have auto insurance, you will surely be able to save money using the techniques presented in this article. Smart buyers only need to know how to compare price quotes over the internet.
Don't overlook these Honda HR-V insurance discounts
The price of auto insurance can be rather high, but you might already qualify for some discounts that can drop the cost substantially. Many discounts should be triggered when you purchase, but less common discounts must be specifically requested in order for you to get them.
- Defensive Driver Discounts - Completing a class that teaches driver safety techniques could possibly earn you a 5% discount if your company offers it.
- Student Driver Training - Cut your cost by having your teen driver enroll in driver's education in high school.
- Passenger Safety Discount - Vehicles with factory air bags can get savings as much as 30%.
- Multi-car Discount - Purchasing coverage when you have multiple cars or trucks on a single policy can get a discount for every vehicle.
- Student Discounts - A discount for being a good student can earn a discount of 20% or more. Most companies allow this discount up to age 25.
Consumers should know that most credits do not apply to the overall cost of the policy. The majority will only reduce individual premiums such as liability, collision or medical payments. If you do the math and it seems like adding up those discounts means a free policy, it doesn't quite work that way.
Car insurance companies that may offer policyholders these benefits include:
When quoting, ask all companies you are considering to give you their best rates. Depending on the company, some discounts might not be offered in Denver. If you would like to choose from a list of companies with significant discounts in Colorado, follow this link.
The auto insurance companies shown below offer comparison quotes in Colorado. If multiple companies are shown, it's highly recommended you visit two to three different companies to get the best price comparison.
Seven Tips to Get Cheaper Denver Insurance Rates
Many things are used in the calculation when you quote your car insurance policy. Some are obvious like your driving record, although others are more transparent like your continuous coverage or how financially stable you are.
- Driving citations are costly - Your driving citation history can have a huge impact on auto insurance premiums. Having just one citation may cause rates to rise by twenty percent. Careful drivers pay less for auto insurance than their less careful counterparts. People who have serious tickets like DUI, reckless driving or excessive speeding may find they need to submit a SR-22 form with their state's department of motor vehicles in order to legally drive a vehicle.
- Stay claim-free and save money - If you tend to file frequent claims, you can look forward to either policy cancellation or increased premiums. Auto insurance companies in Colorado give lower rates to drivers who are not frequent claim filers. Insurance coverage is intended for larger claims.
- Defend yourself with liability protection - Your insurance policy's liability coverage will protect you if ever you are ruled to be at fault for physical damage or personal injury to other. It provides for a legal defense which can cost a lot. Liability insurance is pretty cheap compared to other policy coverages, so insureds should have plenty of protection for their assets.
- Men pay higher premiums - Statistics demonstrate that men are more aggressive behind the wheel. That doesn't necessarily mean that women are better drivers. Both sexes have at-fault accidents at a similar rate, but males tend to have more serious accidents. They also get higher numbers of serious violations such as reckless driving. Young men ages 16 to 20 are the most expensive to insure and therefore are the most expensive to insure.
- Where you call home is a factor - Being located in areas with lower population has definite advantages when buying insurance. Drivers in populated areas regularly have congested traffic and higher rates of accident claims. Fewer people translates into fewer accident claims and also fewer theft and vandalism claims.
- Your vocation may affect rates - Occupational choices like real estate brokers, police officers, and accountants usually pay the highest average rates attributed to high stress and long work days. Other jobs like farmers, historians and the unemployed pay the least.
- More miles equals more premium - The more miles you rack up on your Honda in a year's time the more you will pay for insurance. Most insurance companies calculate prices based on their usage. Vehicles that have low annual miles qualify for better rates than cars that get driven a lot. Having the wrong rating on your HR-V may be costing you. Ask your agent if your insurance declarations sheet shows the correct usage for each vehicle, because it can save money.
Buying insurance from Denver auto insurance agents
Many people just want to buy from a licensed agent and that is OK! Most agents can help determine the best coverages and give you someone to call. The best thing about getting free rate quotes online is that drivers can save money and get cheap insurance quotes and still have an agent to talk to. And supporting small agencies is definitely important in Denver.
Once you complete this form (opens in new window), your coverage information is transmitted to insurance agents in Denver who want to provide quotes for your insurance coverage. It simplifies rate comparisons since you won't have to contact an agency as quotes are delivered directly to you. If you wish to compare prices from a specific insurance provider, you can always search and find their rate quote page and submit a quote form there.
Finding the right provider should depend on more than just the premium amount. Any agent in Denver should have no problem answering these questions:
- Which insurance companies are they affiliated with?
- Are claim adjusters local or do you have to take your car somewhere else?
- Has the agent ever had any license suspensions?
- Does the quote include credit and driving reports?
- Can they provide you with a list of referrals?
- In the event of vehicle damage, can you pick the collision repair facility?
- Do they feel the quoted coverages are adequate?
Here's why auto insurance is not optional
Despite the potentially high cost of Honda HR-V insurance, paying for auto insurance is mandatory in Colorado but it also protects more than you think.
First, most states have mandatory liability insurance requirements which means you are required to carry a specific minimum amount of liability 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.
Second, if you have a loan on your vehicle, more than likely the lender will make it mandatory that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the bank may buy a policy for your Honda for a lot more money and require you to pay the higher price.
Third, insurance protects your Honda HR-V and your assets. It will also reimburse you for all forms of medical expenses for not only you but also any passengers injured in an accident. Liability coverage also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If you have damage to your Honda as the result of the weather or an accident, collision and comprehensive coverages will pay to have it repaired.
The benefits of carrying enough insurance more than cancel out the cost, particularly if you ever have a claim. But the average driver in Colorado overpays more than $850 per year so you should quote your policy with other companies every year to be sure current rates are still competitive.
Persistence pays off
As you prepare to switch companies, never reduce needed coverages to save money. There are many occasions where someone dropped full coverage only to discover later they didn't purchase enough coverage. Your goal should be to buy enough coverage at the best possible price, but do not sacrifice coverage to save money.
Lower-priced Honda HR-V insurance in Denver is attainable from both online companies in addition to local insurance agencies, so you should be comparing quotes from both so you have a total pricing picture. Some car insurance companies may not offer rate quotes online and many times these smaller companies prefer to sell through independent agents.
For more information, feel free to browse the resources below:
- Insurance Losses by Make and Model (iihs.org)
- How Much is Colorado Auto Insurance for a Hyundai Elantra? (FAQ)
- How Much are Colorado Car Insurance Quotes for a Toyota 4Runner? (FAQ)
- How Much is Colorado Auto Insurance for High School Students? (FAQ)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
- Understanding Limits and Deductibles (Allstate)