Are you doing reasearch to find cheaper insurance rates in Centennial, CO? Are you regretting the purchase of an underperforming, overpriced insurance policy? It's a common feeling and there are lots of people in the same boat.

Sad but true, over 70% of consumers kept their policy with the same company for a minimum of four years, and 38% of customers have never shopped around. With the average insurance premium being $1,813, Centennial drivers could save about 35% a year just by getting comparison quotes, but they just don't understand the actual amount they would save if they switched to a cheaper policy.

Because there are so many online and local companies to choose from, it's difficult to find the cheapest company.

Our goal in writing this article help you learn the most effective ways to compare rates and some money-saving tips. If you currently have a car insurance policy, you will surely be able to save money using the techniques covered below. But Colorado consumers can benefit by having an understanding of how big insurance companies set your policy premium because it varies considerably.

All major insurance companies allow you to get prices for coverage on their websites. Doing online quotes is quite easy as all you need to do is type in your coverage preferences into the form. When complete, their rating system obtains credit information and your driving record and generates pricing information based on the data you entered. The ability to get online rate quotes simplifies rate comparisons, and it's also necessary to get many rate quotes in order to find the cheapest possible prices on insurance.

To save time and find out if lower rates are available, compare rates now from the companies shown below. If you currently have coverage, we recommend you copy the insurance coverages as shown on your current policy. This helps ensure you will receive a price comparison for similar coverage.

The car insurance companies shown below are our best choices to provide price quotes in Colorado. If multiple companies are listed, we suggest you get rate quotes from several of them to find the most affordable car insurance rates.

Insurance Estimates for Popular Vehicles in Centennial
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Equinox LT AWD $1,064 $532 $89
Chevrolet Silverado Crew Cab Hybrid 2WD $1,536 $768 $128
Dodge Ram Crew Cab ST 4WD $1,356 $678 $113
Ford Escape XLS 2WD $1,180 $590 $98
Ford Explorer Limited 4WD $1,208 $604 $101
Ford F-150 Lariat King Ranch 4WD $1,202 $601 $100
Ford Focus SE 4-Dr Sedan $922 $461 $77
Ford Fusion Sport 4-Dr Sedan $1,344 $672 $112
Honda Accord LX-P 4-Dr Sedan $902 $451 $75
Honda CR-V EX-L 2WD $1,046 $523 $87
Honda Civic GX 4-Dr Sedan $1,582 $791 $132
Honda Odyssey LX $756 $378 $63
Jeep Grand Cherokee Laredo 2WD $934 $467 $78
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $936 $468 $78
Kia Optima LX $994 $497 $83
Mazda 3 S Grand Touring 4-Dr Hatchback $1,314 $657 $110
Nissan Altima 3.5 SR 4-Dr Sedan $1,324 $662 $110
Toyota Camry SE $1,296 $648 $108
Toyota Corolla XRS $1,156 $578 $96
Volkswagen Jetta SE 2.5 Station Wagon $1,280 $640 $107
Get Your Own Custom Quote Go

Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Rates do not factor in specific zip code location which can change auto insurance rates significantly.

Full coverage or liability only

The information below visualizes the comparison of Ford Fusion annual premium costs with and without physical damage coverage. The price estimates are based on no claims, a clean driving record, $100 deductibles, married female driver, and no policy discounts are applied.

Ford Fusion rates are for example purposes only. To get rates for your specific vehicle, click here.

When to stop paying for full coverage

There is no exact formula to eliminate physical damage coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

For example, let's pretend your Ford Fusion claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $3,000 after the policy deductible has been paid. If premium cost is more than $300 a year for full coverage, then you may need to consider dropping full coverage.

There are a few cases where dropping full coverage is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not buy liability only.

Deductible analysis

The illustration below highlights how deductible choice and can impact Ford F-150 yearly insurance costs for different age groups. The prices are based on a married male driver, comp and collision included, and no discounts are applied to the premium.

Ford F-150 rates are for example purposes only. To get rates for your specific vehicle, click here.

Comparison of car insurance rates by age and gender

The chart below visualizes the comparison of insurance premiums for male and female drivers in Centennial. The price estimates are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, single marital status, and no discounts are applied to the premium on a Ford Focus SEL.

Ford Focus rates are for example purposes only. To get rate quotes for your specific vehicle, click here.

Do you qualify for these ten discounts?

Companies don't always advertise the complete list of policy discounts in an easy-to-find place, so we took the time to find some of the best known and also the more inconspicuous credits available to lower your premiums when you buy Centennial auto insurance online. If you check and find you aren't receiving every discount you deserve, you could be paying more than you need to.Discount car insurance

As a disclaimer on discounts, some of the credits will not apply to the entire policy premium. Most only reduce individual premiums such as collision or personal injury protection. Just because you may think all the discounts add up to a free policy, it doesn't quite work that way.

To see a list of providers who offer online car insurance quotes in Colorado, follow this link.

When do I need to contact an insurance agency?

Some people still prefer to have an agent's advice and that can be a smart move One of the great benefits of price shopping on the web is the fact that you can find cheap insurance quotes and still buy from a local agent. And buying from local insurance agencies is definitely important in Centennial.

Insurance agency in CentennialAfter filling out this short form, your coverage information gets sent to local insurance agents who will return price quotes for your insurance coverage. It's much easier because you don't need to search for any insurance agencies because quoted prices will be sent to you. You can find the lowest rates and work with a local agent. If for some reason you want to get a comparison quote from a particular provider, you would need to find their quoting web page to submit a rate quote request.

If you would like to find a good Centennial insurance agent, it's helpful to know the types of insurance agents that you can choose from. Agencies in Centennial may be either independent agents or exclusive agents.

Independent Insurance Agencies

Agents in the independent channel do not write with just one company so as a result can place your coverage with an assortment of companies and help determine which has the cheapest rates. To transfer your coverage to a different company, an independent agent can move your coverage and you don't have to switch agencies. When comparing rates, we recommend you get some free quotes from several independent agencies to get the best comparison.

Exclusive Insurance Agents

Agents in the exclusive channel can only place business with one company and some examples include Farmers Insurance, American Family, State Farm and Allstate. They generally cannot compare rates from other companies so it's a take it or leave it situation. They are usually quite knowledgeable on their products and sales techniques which helps them sell on service rather than price.

Picking an car insurance agent needs to be determined by more than just the price. Here are some questions to ask:

Once you have received good answers for all questions you ask and an affordable coverage quote, chances are good that you have found an insurance agent that meets the criteria to insure your vehicles.

Why you need to buy insurance

Even though rates can get expensive, paying for insurance serves an important purpose.

The benefits of carrying enough insurance more than offset the price you pay, especially when you need to use it. Today the average American driver is wasting up to $830 a year so you should quote rates at every policy renewal to be sure current rates are still competitive.

Coverage specifics

Understanding the coverages of car insurance can be of help when determining the right coverages for your vehicles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. Shown next are typical coverages found on the average car insurance policy.

Medical payments and PIP coverage

Med pay and PIP coverage pay for short-term medical expenses for rehabilitation expenses, pain medications, ambulance fees and surgery. They are often used to fill the gap from your health insurance plan or if you are not covered by health insurance. They cover you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

Medical Payment Coverage Claims by Vehicle
Lowest Claim Amount Highest Claim Amount
Ford F-250 SuperCrew Chrysler 200
Chevrolet Corvette Kia Forte
Tesla Model S Chevrolet Sonic
Ford F-350 SuperCrew Nissan Versa
Chevrolet Silverado 2500 Mitsubishi Mirage
Chevrolet Silverado 3500 Dodge Charger

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage protects you and your vehicle from other motorists when they 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 vehicle.

Since many Colorado drivers only carry the minimum required liability limits (25/50/15), it doesn't take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Liability auto insurance

Liability coverage can cover damages or injuries you inflict on people or other property in an accident. It protects YOU against other people's claims, and doesn't cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 25/50/15 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged propery. Some companies may use a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims like repair costs for stationary objects, structural damage, pain and suffering and medical expenses. How much liability should you purchase? That is your choice, but consider buying as much as you can afford. Colorado requires minimum liability limits of 25/50/15 but you should think about purchasing more liability than the minimum.

Liability Insurance Claims by Vehicle Model
Lowest Claim Amount Highest Claim Amount
Audi A6 Chevrolet Impala
Mercedes-Benz SL Class Dodge Charger
Subaru Forester Chevrolet Cruze
Subaru Outback Chevrolet Sonic
Fiat 500 Chrysler 200
Chevrolet Corvette Mitsubishi Mirage

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Comprehensive auto coverage

Comprehensive insurance covers damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as hail damage, a tree branch falling on your vehicle and falling objects. The maximum amount a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle's value is low consider removing comprehensive coverage.

Lowest and Highest Comprehensive Claims by Manufacturer Model
Lowest Claim Amount Highest Claim Amount
Chevy Spark BMW M6
Ford F-350 Bentley Continental GT
GMC Sierra 2500 Audi S7
Infiniti QX50 BMW M6
Volvo V60 Maserati Granturismo
Nissan Xterra Porsche Panamera GTS

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Coverage for collisions

Collision insurance covers damage to your vehicle resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like colliding with a tree, driving through your garage door, sustaining damage from a pot hole and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Another option is to raise the deductible in order to get cheaper collision rates.

Car Insurance Collision Claims by Vehicle Model
Lowest Claim Amount Highest Claim Amount
Ford F-250 SuperCab BMW M6
Ford Edge Bently Continental GTC
GMC Canyon Bently Continental GT
Nissan Xterra Ferrari 458
Smart ForTwo Maserati Granturismo
Mini Cooper Maserati Ghibli

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Quote more and you will save more

Some insurance providers may not have online rate quotes and many times these small, regional companies only sell coverage through local independent agents. The cheapest insurance in Centennial is definitely available online in addition to many Centennial insurance agents, and you should be comparing both to have the best chance of lowering rates.

In this article, we covered quite a bit of information on how to shop for insurance online. It's most important to understand that the more price quotes you have, the more likely it is that you will get a better rate. Drivers may even discover the most savings is with a company that doesn't do a lot of advertising. These companies may cover specific market segments cheaper than the large multi-state companies such as Progressive or GEICO.

When buying insurance coverage, it's not a good idea to buy less coverage just to save a little money. There have been many situations where someone dropped liability coverage limits only to regret that the small savings ended up costing them much more. Your focus should be to buy the best coverage you can find at the best possible price but still have enough coverage for asset protection.

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