Did budget coverage turn out to be overpriced Dodge Charger insurance in Denver? Don't feel bad because you're not the only one.
Shocking but true, most auto insurance policyholders in Colorado kept their policy with the same company for a minimum of four years, and 38% of drivers have never compared rate quotes at all. Most drivers in the United States could save nearly $859 a year by just comparing quotes, but they mistakenly think it's difficult to compare rate quotes. Big companies like GEICO, 21st Century and Progressive increase brand awareness with TV and radio ads and consumers find it hard to see through the deception and effectively compare rates to find the best deal.
It's a good habit to do rate comparisons before your next renewal due to the fact that insurance prices are rarely the same from one policy term to another. Even if you think you had the lowest price on Dodge Charger insurance in Denver a couple years back you can probably find a better rate quote now. There are lots of tips to save on Charger insurance online but you can learn some proven techniques to find cheap auto insurance in Denver.
If you are already insured or just want to reduce your rates, you can use this information to shop for the lowest rates while maintaining coverages. Choosing the most cost-effective car insurance policy in Denver seems hard but is not really that difficult. Smart shoppers just need to learn the best way to compare rate quotes from multiple carriers.
Most companies allow consumers to get price estimates on their websites. Doing online price comparisons for Dodge Charger insurance in Denver is pretty easy as you just type in your coverage preferences as requested by the quote form. When complete, the quote system collects your credit score and driving record and returns a price quote based on these and other factors. Being able to quote online for Dodge Charger insurance in Denver streamlines rate comparisons, and it is important to compare as many rates as possible if you want to find a better rate.
To find out how much you're overpaying now, compare quotes from the companies shown below. If you have coverage now, it's recommended you duplicate your coverages exactly as shown on your declarations page. Doing this assures you're receiving an apples-to-apples comparison for similar coverage.
The companies in the list below offer quotes in Denver, CO. If multiple providers are shown, we recommend you visit several of them to find the lowest auto insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Charger 3.5 AWD||$292||$534||$412||$24||$124||$1,386||$116|
|Charger SXT AWD||$310||$496||$452||$26||$136||$1,420||$118|
|Charger Rallye AWD||$342||$620||$440||$26||$132||$1,560||$130|
|Charger R/T AWD||$178||$324||$412||$24||$124||$1,062||$89|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Information does not factor in Denver location which can impact coverage prices noticeably.
Physical damage deductibles
The chart below shows how choosing a deductible and can increase or decrease Dodge Charger insurance costs for different age groups of insureds. The information is based on a single male driver, full coverage, and no discounts are taken into consideration.
Full coverage versus liability-only
The example below examines Dodge Charger auto insurance rates with full coverage compared to only the Colorado minimum liability coverage. The premiums are based on no claims or driving violations, $500 deductibles, married female driver, and no other discounts are factored in.
Should you be buying full coverage?
There is no definitive guideline to stop buying full coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is 10% or more of the vehicle's replacement cost less your deductible, then it could be time to drop full coverage.
For example, let's assume your Dodge Charger settlement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after paying the physical damage deductible. If you are paying over $600 a year for physical damage coverage, then it might be time to consider dropping full coverage.
There are some scenarios where removing full coverage is not advised. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle in case of an accident, you should not opt for liability only.
Rate increases following a ticket or accident
The illustration below shows how violations and fender-benders impact Dodge Charger premium costs for different age groups. The rate quotes are based on a married female driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
Why do I need car insurance?
Even though it's not necessarily cheap to insure a Dodge in Denver, buying insurance serves a purpose in several ways.
First, most states have mandatory insurance requirements which means state laws require a minimum amount of liability protection if you don't want to risk a ticket. 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 your Dodge Charger has a loan, almost every bank will require that you have insurance to guarantee their interest in the vehicle. If coverage lapses or is cancelled, the bank may buy a policy for your Dodge at a significantly higher premium and force you to pay for the much more expensive policy.
Third, insurance safeguards not only your vehicle but also your assets. It will also reimburse you for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay attorney fees if you are named as a defendant in an auto accident. If your Dodge gets damaged, your policy will pay to restore your vehicle to like-new condition.
The benefits of buying insurance more than cancel out the cost, especially with large liability claims. The average driver in Colorado overpays more than $750 every year so it's important to compare rates at every policy renewal to be sure current rates are still competitive.
Why You Might Pay Lower Rates in Denver
When buying auto insurance it's important to understand the factors that help determine auto insurance rates. When you know what positively or negatively positively or negatively impacts your premiums, this empowers consumers to make smart changes that may result in cheaper rates. Multiple criteria are used in the calculation when you get a price on insurance. Most are fairly basic like a motor vehicle report, but other criteria are more transparent such as your marital status or your financial responsibility.
The factors shown below are some of the major factors used by companies to determine your prices.
- Does your occupation raise your rates? - Did you know your auto insurance rates can be affected by your occupation? Occupations such as lawyers, social workers and financial analysts generally pay higher average rates attributed to high stress and long work hours. On the flip side, jobs such as professors, engineers and performers pay lower than average rates.
- Premiums are high for teenagers - Inexperience drivers tend to be careless and easily distracted when behind the wheel so auto insurance rates are higher. Older insureds tend to be more responsible, file fewer claims, and usually have better credit.
- Too many policy claims and you'll pay more - If you're an insured who likes to file claims you shouldn't be surprised to get higher rates. Insurance companies in Colorado award discounts to people who are claim-free. Insurance coverage is intended to be relied upon for the bigger claims that can't be paid out-of-pocket.
- Liability insurance limits are a factor - Your policy's liability coverage will provide protection when you are found to be at fault for damages caused by your negligence. It will provide legal defense coverage which can cost a lot. It is affordable coverage as compared to coverage for physical damage, so do not cut corners here.
- Loss probability for a Dodge Charger - Companies study historical loss data in order to profitably underwrite each model. Vehicles that have higher frequency or amount of claims will cost more to insure. The next table illustrates the historical insurance loss data for Dodge Charger vehicles.
For each coverage category, the statistical loss for all vehicles averaged together is considered to be 100. Values below 100 mean the vehicle has better than average losses, while values over 100 indicate more frequent losses or an increased likelihood of larger losses.
Car Insurance Loss Data for Dodge Charger Models
Specific Dodge Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Dodge Charger 2WD 148 142 160 176 178 159 Dodge Charger 4WD 124 129 115 107 110 138 Dodge Charger HEMI 156 106 202 118 127 111
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Denver insurance discounts for a Dodge Charger
Insurance can cost an arm and a leg, but you might already qualify for some discounts that may help make it more affordable. Certain reductions will be credited when you complete an application, but once in a while a discount must be specially asked for before they will apply. If you check and find you aren't receiving every discount available, you are paying more than you should be.
- Discounts for Federal Employees - Being employed by or retired from a federal job could provide a small rate reduction with select insurance companies.
- Anti-lock Brake System - Cars with anti-lock braking systems are safer to drive so companies give up to a 10% discount.
- E-sign Discounts - Some of the larger companies may give you up to $50 get Denver auto insurance on their website.
- Driver's Education for Students - Cut your cost by having your teen driver take driver's ed class in school.
- Discounts for New Vehicles - Adding a new car to your policy is cheaper since newer vehicles are generally safer.
- Low Mileage - Low mileage vehicles can qualify you for better rates on cars that stay parked.
- Good Grades Discount - A discount for being a good student could provide a savings of up to 20% or more. You can use this discount normally up to age 25.
- Seat Belt Usage - Drivers who always wear seat belts and also require passengers to use their safety belts could cut 10% or more off the medical payments premium.
Policy discounts save money, but some of the credits will not apply to the entire cost. Some only reduce the price of certain insurance coverages like collision or personal injury protection. Despite the fact that it seems like you could get a free car insurance policy, car insurance companies aren't that generous. Any amount of discount will lower your premiums.
If you would like to see a list of insurers that offer multiple discounts in Colorado, click here.
What insurance coverages do I need?
When it comes to choosing coverage online or from an agent for your vehicles, there isn't really a "best" method to buy coverage. Every insured's situation is different so your insurance needs to address that. For example, these questions may help highlight whether you might need an agent's assistance.
- How can I get my company to pay me more for my totalled car?
- What is covered by UM/UIM coverage?
- When should I have rental car coverage?
- What are good deductibles for a Dodge Charger?
- Are split liability limits better than a combined single limit?
- Do I need to file an SR-22 for a DUI in Colorado?
- Is my nanny covered when driving my vehicle?
- What happens if I owe more than my Dodge Charger is worth?
- How can I force my company to pay a claim?
- What is no-fault insurance?
If it's difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It's fast, free and can help protect your family.
Local Denver insurance agents and auto insurance
A small number of people would rather have an agent's advice and we recommend doing that Good agents are trained to spot inefficiencies and help submit paperwork. An additional benefit of getting online price quotes is the fact that drivers can get cheaper prices and still have an agent to talk to.
For easy comparison, once you complete this simple form, your insurance coverage information is instantly submitted to insurance agents in Denver who will gladly provide quotes and help you find cheaper coverage. It makes it easy because there is no need to contact any insurance agencies as quotes are delivered straight to your inbox. If for some reason you want to compare rates from one company in particular, just search and find their rate quote page and submit a quote form there.
Finding the right insurance company shouldn't rely on just the bottom line cost. Here are some questions you might want to ask.
- Can you get a list of referrals?
- Do they carry Errors and Omissions coverage?
- Where would your vehicle be repaired?
- Do they make recommendations based only on price?
- In the event of vehicle damage, can you pick the collision repair facility?
- Are you getting all the discounts the company offers?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
Exclusive or Independent: There is a difference
When looking for a reliable insurance agency, it's helpful to know the different types of agencies and how they differ in how they can insure your vehicles. Auto insurance agents can be described as either exclusive or independent (non-exclusive). Either type can handle auto insurance, but it's important to point out the difference in the companies they write for since it can impact the selection process.
Agents of this type can only place business with one company like State Farm or Allstate. They generally cannot compare rates from other companies so you might not find the best rates. Exclusive insurance agents receive extensive training in insurance sales which helps them sell on service rather than price.
Shown below is a short list of exclusive agencies in Denver that are able to give comparison quotes.
Tammy Hill - State Farm Insurance Agent
4650 Tower Rd Unit 101 - Denver, CO 80249 - (303) 373-9500 - View Map
Independent Auto Insurance Agencies
Agents in the independent channel can sell policies from many different companies and that gives them the ability to insure through many companies and find the cheapest rate. If premiums increase, your policy is moved internally and you don't have to do anything. If you are trying to find cheaper rates, you definitely need to get rate quotes from a couple of independent agencies in order to have the best price comparison.
Listed below is a list of independent insurance agents in Denver that are able to give rate quotes.
Quote often and quote early
We just presented some good ideas how to find cheap Dodge Charger insurance in Denver. The most important thing to understand is the more price quotes you have, the more likely it is that you will get a better rate. Consumers could even find that the lowest premium rates come from a small local company. These smaller insurers may often insure only within specific states and give getter rates compared to the large companies like Allstate or State Farm.
As you go through the steps to switch your coverage, never buy lower coverage limits just to save a few bucks. In many instances, consumers will sacrifice liability coverage limits and found out when filing a claim they didn't have enough coverage. Your goal is to find the BEST coverage at the lowest possible cost and still be able to protect your assets.
More affordable insurance in Denver is attainable both online and with local Denver insurance agents, so you should compare both to have the best chance of lowering rates. A few companies may not have internet price quotes and most of the time these small, regional companies work with independent agents.
Additional detailed information can be read in the articles below: