Are you overwhelmed by the sheer number of insurance choices that you can choose from? Colorado people have so many choices that it is a ton of work to compare rates on Lexus LFA insurance. Everyone knows Denver is a great city to live in, but budgeting for expensive insurance can make it difficult for lots of drivers to afford enough coverage.
Sad but true, the majority of drivers kept their policy with the same company for four years or more, and nearly the majority have never compared rate quotes at all. Most drivers in Colorado could save an average of almost $600 each year just by getting comparison quotes, but they don't believe how much savings they would realize if they just switched companies.
Buying the cheapest car insurance in Denver can really be easy if you know what you're doing. If you are insured now, you will definitely be able to shop for the lowest rates using the techniques presented in this article. But Colorado car owners do need to know the way companies compete online because it varies considerably.
Auto insurance discounts help lower rates for Lexus LFA insurance in Denver
Some insurance providers don't always list all discounts very well, so we break down both the well known and the more hidden credits that you can use to lower your rates.
- College Student Discount - Older children who are enrolled in higher education away from home and do not have access to a covered vehicle may be able to be covered for less.
- Seat Belt Discounts - Drivers who require all vehicle occupants to use their safety belts could save 15% on the premium charged for medical payments and/or PIP.
- Accident-Free Discounts - Good drivers with no accidents pay much less when compared with drivers with a long claim history.
- Safety Course Discount - Participating in a defensive driver class could cut 5% off your bill depending on where you live.
- Government Employees - Employees or retirees of the government could provide a small rate reduction depending on your company.
Don't be surprised that many deductions do not apply to the entire cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, you won't be that lucky.
A partial list of companies that may include most of these discounts possibly include:
If you need lower rates, check with each company which discounts they offer. A few discounts may not apply to policies in every state. To locate companies who offer auto insurance discounts in Colorado, follow this link.
When price shopping your coverage, obtaining a wide range of quotes increases your odds of finding lower pricing.
The companies shown below provide comparison quotes in Colorado. If more than one company is shown, it's a good idea that you get rate quotes from several of them to get the best price comparison.
How Car Insurance Companies Calculate Lexus LFA Insurance Prices
Many factors are used when you quote your car insurance policy. Most are fairly basic like an MVR report, but some are less obvious like your vehicle usage or how safe your car is. When buying insurance it's important to understand a few of the rating criteria that go into determining insurance rates. When you understand what impacts premium levels, this empowers consumers to make smart changes that will entitle you to lower premium levels.
- Lower performance equals lower insurance rates - The performance of the vehicle you own makes a substantial difference in determining your rates. The lowest base rates are generally reserved for smaller low performance passenger cars, but other factors influence the final cost greatly. Because the Lexus LFA is a luxury sports car, insurance will be up to twice as much when compared to the average rates in Denver.
- Never have insurance lapses - Going without insurance will be a fast way to increase your rates. In addition to paying higher rates, getting caught without coverage may earn you fines or a revoked license. You may then have to prove you have insurance by filing a SR-22 with the Colorado DMV.
- Commute or pleasure use - The more you drive annually the higher your rate. The majority of insurers calculate prices determined by how the vehicle is used. Cars and trucks that do not get driven very much cost less to insure than cars that get driven a lot. Incorrect rating for your LFA is just wasting money. Verify your declarations sheet shows the right rating data, because improper ratings can cost you money.
- Theft deterrents save - Choosing to buy a car that has a built-in theft deterrent system can help bring down rates. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft and help lower rates.
- Safer the car lower the rate - Vehicles that have high safety ratings tend to be cheaper to insure. Safer cars have better occupant injury protection and better occupant protection means your insurance company pays less and more competitive rates for policyholders. If your Lexus LFA is rated at a minimum an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may pay a lower rate.
- Liability coverage is critical - The liability coverage on your policy kicks in if you are responsible for physical damage or personal injury to other. Your liability coverage provides legal defense to defend your case. Liability insurance is pretty cheap compared to other policy coverages, so drivers should carry high limits.
Buying insurance from Denver car insurance agents
Some consumers still like to get professional advice from a licensed agent and that is recommended in a lot of cases One of the best bonuses of comparing rate quotes online is the fact that drivers can get better rates but still work with a licensed agent.
To help locate an agent, after submitting this form (opens in new window), your coverage information gets sent to insurance agents in Denver who will gladly provide quotes and help you find cheaper coverage. It simplifies rate comparisons since you won't have to do any legwork as quotes are delivered to the email address you provide. You can find better rates without having to waste a lot of time. If you have a need to quote rates from a specific insurance provider, don't hesitate to jump over to their website and complete a quote there.
Finding the right company is decision based upon more than just a cheap quote. These are some valid questions you should ask.
- Is the agent CPCU or CIC certified?
- Do you need full coverage on every vehicle?
- If your car is totalled, how to they determine the replacement cost?
- Do they offer rental car reimbursement?
- Which companies do they recommend if they are an independent agency?
If you are searching for a local insurance agency, you need to know there are two types of agencies and how they can quote your rates. Insurance agencies can either be exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Exclusive agencies write business for a single company and some examples include State Farm, Allstate and AAA. Exclusive agents cannot provide prices from multiple companies so they have no alternatives for high prices. These agents are trained well on their products and sales techniques and that allows them to sell at a higher price point. Many people buy from the same agent for years mainly due to high brand loyalty instead of buying on price only.
The following are exclusive insurance agents in Denver who may provide you with price quotes.
- Beth Bales - State Farm Insurance Agent
3650 S Yosemite St #408 - Denver, CO 80237 - (303) 993-2727 - View Map
- Caramel Russell-Rouse - State Farm Insurance Agent
999 S Monaco Pkwy #200 - Denver, CO 80224 - (303) 424-0420 - View Map
- Val Laskowski - State Farm Insurance Agent
5353 W Dartmouth Ave #410 - Denver, CO 80227 - (303) 987-8849 - View Map
Independent Insurance Agents
Agents that choose to be independent do not write with just one company and that gives them the ability to insure with lots of companies and potentially find a lower price. If you are not satisfied with one company, they can switch companies in-house and you don't have to switch agencies.
If you need lower rates, we recommend you include price quotes from at a minimum one independent agency for maximum quote selection. Most independent agents also contract with smaller companies who may have lower rates.
The following is a list of independent insurance agents in Denver that can give you rate quotes.
- Gonzalez Insurance Agency
6450 E Colfax Ave - Denver, CO 80220 - (303) 320-4901 - View Map
- Westwood Insurance
57 W Alameda Ave - Denver, CO 80223 - (303) 722-2841 - View Map
- Dagley Insurance and Financial Services Inc
2055 S Federal Blvd - Denver, CO 80219 - (303) 975-1229 - View Map
It may be expensive, but it's not optional
Even though Denver LFA insurance rates can get expensive, buying car insurance serves several important purposes.
- The majority of states have minimum liability requirements which means the state requires a specific level of liability coverage 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.
- If your Lexus LFA has a lienholder, most lenders will force you to buy insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Lexus at a significantly higher premium and force you to reimburse them for it.
- Insurance safeguards not only your Lexus LFA but also your financial assets. It also can pay for medical bills incurred in an accident. Liability coverage also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of having car insurance more than cancel out the cost, particularly when you have a large claim. The average driver in Colorado overpays as much as $850 per year so you should quote and compare rates at every policy renewal to save money.
More comparisons equals cheaper rates
Some insurance companies do not provide the ability to get a quote online and these small insurance companies work with local independent agencies. Cheap Lexus LFA insurance in Denver can be sourced online and from local agencies, and you need to price shop both in order to have the best price selection to choose from.
As you go through the steps to switch your coverage, do not buy less coverage just to save a little money. There have been many cases where an insured dropped full coverage to discover at claim time they didn't have enough coverage. Your aim should be to buy enough coverage for the lowest price but still have enough coverage for asset protection.
In this article, we covered a lot of ways to lower your Lexus LFA insurance prices in Denver. The key concept to understand is the more rate quotes you have, the better likelihood of getting affordable Denver car insurance quotes. You may even be surprised to find that the lowest prices come from a small mutual company.
Additional information is located at the links below
- Steps to Take After an Auto Accident (Insurance Information Institute)
- How Much is Colorado Auto Insurance for a Chevrolet Silverado? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Dodge Journey in Colorado? (FAQ)
- How Much are Colorado Car Insurance Quotes for a Toyota Highlander? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for Teenage Females? (FAQ)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- A Tree Fell on Your Car: Now What? (Allstate)
- Booster Seat Ratings (iihs.org)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)