Scraping up a payment for high-priced Land Rover LR2 insurance in Denver can stress out your family's budget and put the squeeze on your family's finances. Shopping your coverage around is an excellent way to make sure you're not throwing money away.
Remarkably, a study showed that nearly 70% of Colorado drivers have stayed with the same insurance company for a minimum of four years, and about 40% of consumers have never compared rates to find lower-cost insurance. Many drivers in the U.S. could save themselves approximately $850 a year by just comparing rate quotes, but they don't know the rate savings if they moved their coverage to a different company.
You have so many car insurance companies to choose from, and although it's nice to have multiple companies, it can be more difficult to compare rates and find the lowest cost car insurance.
Quoting and comparing cheaper policy in Denver is not as confusing as people think. Nearly every driver who buys auto insurance will find a better price. But Colorado consumers should learn the way companies calculate their prices because it can help you find the best coverage.
Land Rover LR2 insurance quotes comparison
When comparison shopping, comparing a wide range of rates will improve the odds of getting the best rates. Some regional insurers cannot provide Denver LR2 insurance quotes over the internet, so it's recommended that you also compare prices from them, too.
The car insurance companies shown below are our best choices to provide free rate quotes in Denver, CO. If the list has multiple companies, it's a good idea that you get prices from several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|LR2 HSE Luxury||$206||$390||$426||$26||$128||$1,176||$98|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Prices do not factor in your specific Denver location which can revise coverage prices significantly.
How much more does full coverage cost?
The diagram below illustrates the difference between Land Rover LR2 auto insurance rates with full coverage and liability only. The rates are based on no driving violations, no at-fault accidents, $1,000 deductibles, married female driver, and no additional discounts are factored in.
Are you wasting money paying for full coverage?
There is no clear-cut rule of when to eliminate physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than around 10% of the vehicle's replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let's say your Land Rover LR2 settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $6,000 after paying your deductible. If you are paying more than $600 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are some conditions where buying only liability insurance is not a good plan. If you haven't paid off your loan, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage in place.
Higher deductibles lower rates
The chart below illustrates how your deductible choice and can affect Land Rover LR2 insurance premiums for different categories of driver ages. The information is based on a single male driver, comp and collision included, and no other discounts are factored in.
Careless driving habits raise auto insurance rates
The diagram below shows how violations and fender-benders influence Land Rover LR2 insurance costs for each different age group. The data is based on a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Get affordable rates on Land Rover LR2 insurance in Denver with these auto insurance discounts
Some insurance providers don't always advertise every disount available in a way that's easy to find, so the list below details a few of the more well known and also the lesser-known discounts that you may qualify for.
- Discounts for Good Drivers - Drivers who don't get into accidents can pay as much as 50% less as compared to drivers with claims.
- Driver Training Discounts - Taking part in a driver safety class may get you a small discount if you qualify.
- Theft Deterrent - Vehicles that have factory alarm systems and tracking devices can help prevent theft and that can save you a little bit as well.
- Student Discounts - This discount can be rewarded with saving of up to 25%. The good student discount can last up until you turn 25.
- Online Discount - Some of the larger companies give back up to $50 for signing up on your computer.
- Seat Belts Save more than Lives - Requiring all passengers to use their safety belts could save 15% on the premium charged for medical payments and/or PIP.
We need to note that some credits don't apply to the overall cost of the policy. The majority will only reduce specific coverage prices like liability and collision coverage. So when it seems like all those discounts means the company will pay you, it just doesn't work that way.
To locate insurers that offer multiple discounts in Denver, click here.
Denver Insurance Costs are Influenced by These Factors
Multiple criteria are used in the calculation when premium rates are determined. A few of the factors are predictable such as your driving record, but other criteria are more obscure such as your credit history or your financial responsibility. Part of the car insurance buying process is learning the different types of things that play a part in calculating car insurance rates. When you know what positively or negatively determines premiums, this enables informed choices that may reward you with much lower annual insurance costs.
Traffic violations cost more than a fine - Your driving record has a huge affect on how much you pay. Only having one speeding ticket or other violation can bump up the cost forty percent or more. Good drivers pay less for auto insurance than people who have multiple driving citations. Drivers who have received multiple violations like DUI, reckless driving or excessive speeding may need to submit a SR-22 or proof of financial responsibility with their state's department of motor vehicles in order to prevent a license revocation.
The higher your credit rating the lower your prices - A driver's credit score will be a significant factor in determining what you pay. People with very good credit scores tend to be more responsible and file fewer claims as compared to drivers with bad credit. Therefore, if your credit could use some work, you could save money insuring your Land Rover LR2 if you clean up your credit.
How many miles do you drive? - Driving more miles every year the more you will pay for car insurance. A lot of insurance companies rate vehicles determined by how the vehicle is used. Cars and trucks that are left in the garage receive better premium rates compared to those used for work or business. It's a smart idea to ensure your policy is showing the right rating data. An improperly rated LR2 is just wasting money.
What are good liability protection limits? - The liability section of your policy will afford coverage when a court rules you are at fault for causing personal injury or damage in an accident. It will provide you with a defense in court to defend your case. Liability is cheap when compared with rates for comp and collision, so do not skimp.
Lower rates for married couples - Getting married can actually save you money when buying car insurance. Having a significant other demonstrates that you tend to be more mature and insurance companies reward insureds because drivers who are married file infrequent claims.
Men pay more for auto insurance - Statistics show women tend to be less risk to insure than men. However, don't assume that men are worse drivers. Women and men are responsible for auto accidents in similar percentages, but males have costlier accidents. Not only are claims higher, but men get ticketed for serious violations like DUI and reckless driving.
File a claims and pay more - If you file a lot of claims don't be surprised to see higher rates. Car insurance companies in Colorado give better rates to drivers who only file infrequent claims. Auto insurance is intended for larger claims.
Insurance losses for a Land Rover LR2 - Companies study historical loss data to calculate a price that will offset losses. Models that tend to have increased claim numbers or amounts will have higher rates for specific coverages. The table below shows the loss history for Land Rover LR2 vehicles.
For each coverage type, the claim amount for all vehicles, regardless of manufacturer or model, is a value of 100. Percentage values below 100 are indicative of better than average losses, while values that are above 100 indicate higher probability of having a loss or an increased chance of larger losses than average.
Land Rover LR2 Insurance Claim Statistics
|Specific Land Rover Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Land Rover LR2 4dr 4WD||115||162||99|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance quotes from local Denver insurance agencies
Certain consumers just want to have an agent's advice and that is not a bad decision One of the best bonuses of comparing rate quotes online is that drivers can save money and get cheap insurance rates and still buy from a local agent. Buying from local agents is important particularly in Denver.
After completing this form (opens in new window), your insurance coverage information is immediately sent to local insurance agents who will give competitive quotes to get your business. It simplifies rate comparisons since you won't have to even leave your home since price quotes are sent immediately to you. You can find lower rates and work with a local agent. In the event you want to get a rate quote from a particular provider, don't hesitate to go to their quote page and complete a quote there.
Below are agents in Denver that may be willing to give comparison quotes for Land Rover LR2 insurance in Denver.
Bao Ngoc Nguyen - State Farm Insurance Agent
1699 S Federal Blvd b - Denver, CO 80219 - (303) 975-1100 - View Map
Finding the right provider is decision based upon more than just a cheap price quote. Before buying a policy in Denver, get answers to these questions.
- Do they specialize in personal lines coverage in Denver?
- Do you qualify for any additional discounts?
- Where are claims handled?
- Does the company use OEM repair parts?
- Who are their largest clients?
- Do the agents have professional certifications like CPCU or CIC?
- How long has the business existed?
- Is assistance available after office hours?
Don't assume everyone needs the same auto insurance coverage
Always keep in mind that when comparing the right insurance coverage for your personal vehicles, there really is not a one-size-fits-all type of policy. Every insured's situation is different and a cookie cutter policy won't apply. For example, these questions might help in determining if you might need professional guidance.
- Why am I be forced to buy a membership to get insurance from some companies?
- Is my state a no-fault state?
- When would I need additional glass coverage?
- Are my friends covered when driving my Land Rover LR2?
- Am I covered if I wreck a rental car?
- Do I need special endorsements for business use of my vehicle?
- What if I total my Land Rover LR2 and owe more than it's worth?
- Can I make deliveries for my home business?
- Should I buy only the required Colorado minimum liability coverage?
- Does car insurance cover theft of personal property?
If you're not sure about those questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.
Ads can be misleading
Big name companies like 21st Century, Allstate and State Farm constantly bombard you with ads on television and other media. They all seem to make an identical promise about saving some big amount if you change to their company. How do they all give you a better price on Land Rover LR2 insurance in Denver?
Companies offer their best rates for the type of driver that earns them the highest profit. One example of a desirable insured could be a mature driver, has other policies, and drives a lower-performance vehicle. A driver who fits that profile will probably get cheap premium rates and will most likely save a lot on Denver Land Rover LR2 insurance if they switch.
Insureds who are not a match for the "perfect" profile will be quoted a higher rate which leads to the prospect going elsewhere. The wording the ads use say "people that switch" not "everyone that quotes" can save as much as they claim. That is how companies can truthfully make it sound like they have such great prices.
Different companies use different criteria so drivers should compare many company's prices. Because you cannot predict with any certainty which company will give you the biggest savings.
Affordable car insurance is out there
Cost effective Land Rover LR2 insurance can be found on the web in addition to many Denver insurance agents, and you should compare price quotes from both to have the best selection. There are still a few companies who may not offer the ability to get quotes online and most of the time these small, regional companies prefer to sell through local independent agents.
In this article, we covered many ways to find cheap Land Rover LR2 insurance in Denver. The key concept to understand is the more quotes you get, the higher the chance of saving money. You may even find the best premium rates are with some of the lesser-known companies. These smaller insurers often have lower prices on specific markets than their larger competitors like Allstate, GEICO and Progressive.
For more information, feel free to visit the resources below:
- Frontal Crash Tests (iihs.org)
- Who Has Affordable Colorado Car Insurance for a Hyundai Sonata? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for a Chevrolet Cruze? (FAQ)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Auto Insurance Learning Center (State Farm)