Discount Honda Fit insurancePrice shopping your Honda Fit insurance in Denver might be challenging for people who are new to online comparison shopping. With so many companies in the marketplace, it can quickly become a big hassle to find the best premium rates.

Shocking but true, nearly 70% of consumers kept buying from the same company for more than four years, and nearly the majority have never compared rates to find affordable insurance. Many consumers in Denver could save an average of approximately $600 each year by just comparing rate quotes, but they mistakenly think it's difficult to do a rate comparison.

If you are already insured, you will surely be able to find better prices using the concepts covered in this article. Comparing rates for affordable coverage in Denver is not as difficult as people think. Nevertheless, Colorado consumers do need to learn how companies determine how much to charge because it can help you find the best coverage.

Cheap Denver car insurance rates with discounts

Some insurers don't necessarily list the entire discount list very well, so the next list breaks down some of the more common and also the lesser-known discounts that may be available.Car insurance discounts

Remember that most discounts do not apply to the entire cost. Some only reduce individual premiums such as comp or med pay. So when the math indicates all the discounts add up to a free policy, company stockholders wouldn't be very happy.

To see a list of car insurance companies with the best Honda Fit insurance discounts in Denver in Denver, click here.

Keep in mind that comparing a wide range of rates helps improve the odds of finding a lower rate.

The following companies are our best choices to provide quotes in Denver, CO. If several companies are displayed, we suggest you compare several of them to find the cheapest car insurance rates.

Honda Fit Insurance Costs in Denver, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $230 $448 $236 $14 $70 $998 $83
Fit Sport $276 $502 $238 $14 $72 $1,102 $92
Fit Sport VSA $160 $384 $302 $18 $90 $954 $80
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Premium amounts do not factor in specific garaging location which can change prices significantly.

Should you buy full coverage?

The example below shows the difference between Honda Fit insurance rates with and without physical damage coverage. The data is based on a clean driving record, no claims, $1,000 deductibles, single female driver, and no discounts are applied.

When to eliminate full coverage

There is no clear-cut rule to eliminate physical damage insurance, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then you might consider buying liability only.

For example, let's pretend your Honda Fit claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after the deductible is paid. If premium cost is more than $300 a year for full coverage, then it may be the right time to buy liability only.

There are some situations where eliminating full coverage is not financially feasible. If you haven't paid off your loan, you have to carry full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Physical damage deductible comparison

One of the more difficult decisions when buying auto insurance is how high should the physical damage deductibles be. The premium rates below outline the price difference between high and low coverage deductibles. The first rate estimation uses a $250 comprehensive and collision deductible and the second data table uses a $1,000 deductible.

Honda Fit insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $236 $458 $232 $14 $70 $1,035 $86
Fit Sport $272 $458 $232 $14 $70 $1,071 $89
Fit Sport VSA $272 $538 $232 $14 $70 $1,151 $96
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Honda Fit insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $146 $288 $232 $14 $70 $750 $63
Fit Sport $168 $288 $232 $14 $70 $772 $64
Fit Sport VSA $168 $340 $232 $14 $70 $824 $69
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Rate information does not factor in vehicle location which can decrease or increase prices significantly.

Using the data above, we can ascertain that using a $250 deductible would cost the average driver about $25 more each month or $300 each year than requesting the higher $1,000 deductible. Since you would pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average at a minimum 30 months between claim filings, you would probably be better off if you decide on a higher deductible. Below is an example of how you can decide this on your own policy.

Average monthly premium for $250 deductibles: $90
Average monthly premium for $1,000 deductibles (subtract): - $65
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

One important caveat is that higher deductibles results in having to pay to pay more out-of-pocket when you have a comprehensive or collision claim. That will necessitate enough disposable savings in order to pay the higher deductible in order to repair your vehicle.

Auto insurance agents can help

Some people would rather sit down with an agent and that can be a great decision An additional benefit of comparing insurance prices online is the fact that you can find the best rates and still have a local agent.

Insurance agents in DenverTo help locate an agent, after submitting this form (opens in new window), your information is immediately sent to local insurance agents in Denver who will give you quotes for your car insurance coverage. You won't even need to leave your computer due to the fact that quote results will go to your email. You can find better rates AND a local agent. If you have a need to quote rates from a specific car insurance provider, you just need to go to their quote page and complete a quote there.

Finding the right provider should depend on more than just a cheap quote. Any agent in Denver should be willing to answer these questions.

Insurance agent types

When finding a local Denver insurance agent, you need to know there are two different types of agents and how they work. Agents are classified as either independent or exclusive depending on the company they work for.

Exclusive Agencies

Agents that elect to be exclusive can only provide pricing for a single company and some examples include Allstate, Farmers Insurance or State Farm. These agents are unable to shop your coverage around so you need to shop around if the rates are high. Exclusive agents are well schooled on their products and sales techniques which helps them sell insurance even at higher premiums. Consumers often buy from the same agent for years primarily because of high brand loyalty rather than low price.

Below is a list of exclusive insurance agents in Denver willing to provide comparison quotes.

More Denver agents

Independent Insurance Agents

Independent agencies are normally appointed by many insurers so they can write business with any number of different companies and find you the best rates. If prices rise, they simply move the coverage in-house and you stay with the same agent. If you need cheaper car insurance rates, it's a good idea to get some free quotes from multiple independent agents so that you have a good selection of quotes to compare. Most also write with less well-known companies that may have much lower rates than larger companies.

The following are independent insurance agents in Denver that can give you rate quotes.

More Denver agents

After you get answers to your satisfaction to all your questions and an acceptable price quote, you've probably found an insurance agent that meets the requirements to properly service your car insurance policy. Just remember it's your coverage and you can terminate your policy whenever you want so don't assume you're contractually obligated to any specific agency for a certain time period.

What is YOUR best insurance company?

Lower-priced Honda Fit insurance in Denver can be sourced both online as well as from insurance agents, so you need to quote Denver auto insurance with both to have the best rate selection. There are still a few companies who do not offer the ability to get quotes online and these small insurance companies prefer to sell through independent agents.

Insureds change insurance companies for a variety of reasons including not issuing a premium refund, policy non-renewal, high prices and policy cancellation. Regardless of your reason for switching companies, switching auto insurance companies is actually quite simple.

When shopping online for auto insurance, it's a bad idea to buy less coverage just to save a little money. There are many occasions where consumers will sacrifice physical damage coverage only to regret that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy enough coverage for the lowest cost, not the least amount of coverage.

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