Are you tired of overpaying and want lower-priced Toyota Corolla insurance in Denver? Price shopping your Toyota Corolla insurance in Denver can be frustrating for drivers new to shopping for insurance online. You have so many agents and companies to choose from that it can easily become a difficult challenge to compare prices in Colorado on Toyota Corolla insurance.
Regrettably, a large majority of drivers have been with the same company for more than four years, and 38% of drivers have never quoted rates to find cheaper coverage. Many drivers in the United States could cut their rates by almost 46.5% a year just by comparing rates, but they just don't want to compare rates online.
You should take the time to compare rates yearly because car insurance prices are variable and change quite frequently. Just because you had the lowest rates on Toyota Corolla insurance in Denver a couple years back you may be paying too much now. Forget all the misinformation about car insurance because I'm going to let you in on the secrets to how to use the internet to lower your rates without sacrificing coverage.
If you have a current insurance policy, you will most likely be able to reduce premiums using these techniques. Comparing quotes for affordable coverage in Denver is not as time-consuming as you think. Nevertheless, Colorado vehicle owners do need to know how the larger insurance companies determine premium rates and apply this information to your search.
Do you qualify for discounts on Toyota Corolla insurance in Denver?
Insuring your vehicles can cost a lot, but you might be missing out on some discounts that many people don't even know exist. Many discounts should be triggered when you complete an application, but a few must be requested specifically in order for you to get them. If you do not check that you are getting every discount available, it's possible you qualify for a lower rate.
- Senior Discount - If you're over the age of 55, you could receive a discount up to 10%.
- Braking Control Discount - Cars that have steering control and anti-lock brakes are safer to drive and earn discounts up to 10%.
- Payment Discounts - By paying your policy upfront instead of making monthly payments you may have a lower total premium amount.
- New Vehicle Savings - Insuring a vehicle that is new is cheaper since new model year vehicles are generally safer.
- Discount for Low Mileage - Fewer annual miles on your Toyota could earn lower rates due to less chance of an accident.
A little note about advertised discounts, most credits do not apply to the overall cost of the policy. Most cut individual premiums such as comprehensive or collision. So when it seems like adding up those discounts means a free policy, you're out of luck. Any amount of discount should help reduce the amount you pay for coverage.
A list of companies and a selection of discounts are:
- GEICO may offer discounts for federal employee, defensive driver, five-year accident-free, driver training, air bags, anti-lock brakes, and membership and employees.
- Auto-Owners Insurance policyholders can earn discounts including multi-policy, teen driver, multiple vehicles, group or association, good student, safe vehicle, and anti-lock brakes.
- American Family may include discounts for TimeAway discount, air bags, early bird, mySafetyValet, good driver, and bundled insurance.
- Esurance offers discounts including good student, defensive driver, safety device, online shopper, paid-in-full, and multi-car.
- Progressive may have discounts that include multi-vehicle, multi-policy, homeowner, online signing, and good student.
- State Farm includes discounts for Steer Clear safe driver discount, anti-theft, safe vehicle, passive restraint, good student, and student away at school.
- AAA offers premium reductions for education and occupation, AAA membership discount, pay-in-full, multi-car, good driver, anti-theft, and multi-policy.
When getting a coverage quote, ask each company which discounts they offer. A few discounts might not be available to policyholders in Denver.
Low cost Denver Toyota Corolla insurance
The are a couple different ways to compare rate quotes from local Denver car insurance companies. The simplest method to do a complete rate comparison consists of shopping online. When price shopping your coverage, having more price comparisons will enable you to find the best rates. Some companies don't provide rate quotes online, so you should also compare price estimates on coverage from those companies, too.
The following companies are ready to provide free quotes in Colorado. If more than one company is shown, it's a good idea that you visit as many as you can to find the lowest car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Price estimates do not factor in your specific Denver location which can decrease or increase premiums considerably.
Driving violations and accidents
The illustration below shows how violations and fender-benders can impact Toyota Corolla insurance premiums for different insured age categories. The prices are based on a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.
Rate comparison of full coverage and liability-only
The chart below illustrates the comparison of Toyota Corolla auto insurance costs with and without full coverage. The data is based on no accidents or driving violations, $500 deductibles, single female driver, and no discounts are applied.
Are you wasting money on full coverage?
There is no definitive guideline to delete physical damage coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the vehicle's replacement cost less your deductible, then it could be time to drop full coverage.
For example, let's pretend your Toyota Corolla settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $5,000 after paying your deductible. If you are paying more than $500 a year for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some circumstances where only buying liability is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Your auto insurance coverage should be tailored to you
When choosing a policy for your vehicles, there really isn't a one size fits all plan. Everyone's needs are different and your auto insurance should be unique as well. For instance, these questions can aid in determining if your insurance needs would benefit from an agent's advice.
- How can I get my company to pay me more for my totalled car?
- What does UM/UIM cover?
- Do I need more liability coverage?
- I have a DUI can I still get coverage?
- Should I bundle my homeowners policy with my auto?
- Is my nanny covered when driving my vehicle?
- Does my policy cover my teen driver if they drive my company car?
If it's difficult to answer those questions, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.
Buying from car insurance agents
Many drivers prefer to have an agent's advice and doing that can be a smart decision A nice benefit of getting free rate quotes online is that you can obtain better rates and still have an agent to talk to. Supporting local agencies is important especially in Denver.
Upon completion of this form (opens in new window), the coverage information is instantly submitted to local insurance agents that can give you free Denver auto insurance quotes and help you find cheaper coverage. It makes it easy because there is no need to contact any insurance agencies since rate quotes are delivered to you directly. You can get cheaper insurance rates without requiring a lot of work. In the event you want to compare rates from a particular provider, you can always go to their quote page and complete a quote there.
Exclusive agents vs. Independent agents
If you need to find a local Denver insurance agent, there are two types of agencies to choose from. Insurance agencies in Denver can either be exclusive or independent.
Independent Agents (or Brokers)
These type of agents do not work for one specific company so they can write business through many different insurance companies enabling the ability to shop coverage around. If you want to switch companies, they simply switch companies in-house and you don't have to do anything. If you need cheaper insurance rates, you will definitely want to get some free quotes from independent agents so that you have a good selection of quotes to compare. They often place coverage with small mutual carriers that can offer cheaper rates than bigger companies.
Shown below is a short list of independent insurance agents in Denver that may be able to provide price quotes.
- Aspen Insurance Agency
2238 S Broadway - Denver, CO 80210 - (303) 777-2991 - View Map
- L A Insurance
2684 S Broadway - Denver, CO 80210 - (303) 282-8000 - View Map
- Dagley Insurance and Financial Services Inc
2055 S Federal Blvd - Denver, CO 80219 - (303) 975-1229 - View Map
These type of agents can only quote rates from one company like Farmers Insurance, American Family, State Farm and Allstate. They usually cannot shop your coverage around so you might not find the best rates. Exclusive agents are usually quite knowledgeable in insurance sales which helps them sell on service rather than price. Consumers sometimes purchase coverage from exclusives primarily because of the brand and strong financial ratings.
Listed below is a list of exclusive agents in Denver that can give you comparison quotes.
- Allstate Insurance: Charles F. Simmons
797 S Pearl St - Denver, CO 80209 - (303) 722-0191 - View Map
- Todd Savage - State Farm Insurance Agent
2401 E 6th Ave - Denver, CO 80206 - (303) 722-1139 - View Map
- Lori Rickert State Farm®
714 S Pearl St - Denver, CO 80209 - (303) 757-7440 - View Map
Finding a good car insurance agent needs to be determined by more than just a low price. The following questions are important to ask.
- How often do they review policy coverages?
- Which family members are covered?
- Do they prorate repair cost based on vehicle mileage?
- Will the agent help in case of a claim?
- Are claims handled at the agent's location?
Auto insurance coverage options for a Toyota Corolla
Learning about specific coverages of your auto insurance policy helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverage types found on the average auto insurance policy.
Comprehensive coverage (or Other than Collision) - Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive insurance covers things like fire damage, hitting a bird and falling objects. The maximum amount your auto insurance company will pay is the actual cash value, so if it's not worth much more than your deductible consider dropping full coverage.
Auto liability insurance - Liability coverage protects you from damage that occurs to a person or their property by causing an accident. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/15 that translate to a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a total limit of $15,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.
Liability insurance covers things such as medical services, pain and suffering and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but it's cheap coverage so purchase higher limits if possible. Colorado requires minimum liability limits of 25/50/15 but you should think about purchasing more liability than the minimum.
Collision coverage - Collision coverage will pay to fix damage to your Corolla from colliding with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like rolling your car, sideswiping another vehicle, hitting a parking meter, driving through your garage door and damaging your car on a curb. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also choose a higher deductible on your Corolla to get cheaper collision coverage.
Insurance for medical payments - Med pay and PIP coverage reimburse you for short-term medical expenses like prosthetic devices, hospital visits, X-ray expenses and rehabilitation expenses. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance - Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle's occupants as well as damage to your Toyota Corolla.
Because many people only carry the minimum required liability limits (25/50/15 in Colorado), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Usually these limits are identical to your policy's liability coverage.
Cheaper car insurance prices are available
Cheaper car insurance in Denver is available on the web in addition to local insurance agencies, and you need to comparison shop both so you have a total pricing picture. There are still a few companies who may not offer online price quotes and usually these regional carriers only sell through local independent agencies.
You just learned a lot of information how to compare Toyota Corolla insurance prices in Denver. It's most important to understand that the more rate comparisons you have, the better likelihood of getting the cheapest Toyota Corolla rate quotes. Consumers may even find the lowest priced car insurance comes from some of the lesser-known companies. Regional companies can often provide lower rates in certain areas than their larger competitors like State Farm or Progressive.
While you're price shopping online, it's a bad idea to sacrifice coverage to reduce premiums. There are too many instances where drivers have reduced physical damage coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to buy enough coverage for the lowest price but still have enough coverage for asset protection.
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Help Your Teen Be a Better Driver (State Farm)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)