Save on Honda Fit Insurance in Denver

Do you want the cheapest Honda Fit insurance in Denver? Searching for lower priced Denver Honda Fit insurance quotes is challenging for consumers who are beginners to quoting and comparing rates and buying insurance on the web. With so many agents and insurers available, how can Denver drivers efficiently compare every one to find the cheapest price possible?

It’s astonishing, but over 70% of consumers have stayed with the same insurance company for four years or more, and nearly half have never compared rates to find cheaper insurance. With the average premium in the United States being $1,847, drivers can save as much as 47% each year just by getting comparison quotes, but they underestimate the actual amount they would save if they moved their coverage to a different company.

You need to get comparison quotes as often as possible because insurance rates are rarely the same from one policy term to another. Despite the fact that you may have had the best premium rates on Honda Fit insurance in Denver last year you can probably find a better price now. You’ll find quite a bit of inaccurate information about Fit insurance online but in this article, you’re going to get some of the best ways to buy insurance cheaper in Denver.

Honda Fit insurance discounts in Denver

Companies offering auto insurance don’t always publicize every available discount in an easy-to-find place, so the following is a list of some of the more common and also the lesser-known discounts that you may qualify for.

• Senior Citizen Rates – If you qualify as a senior citizen, you can get better auto insurance rates.
• Defensive Driving Course – Taking time to complete a class that teaches driver safety techniques could cut 5% off your bill if your company offers it.
• Good Student Discount – Maintaining excellent grades may save you up to 25%. This discount can apply up until you turn 25.
• College Student Discount – Any of your kids who are enrolled in a college that is more than 100 miles from Denver and do not have a car may qualify for this discount.
• Anti-lock Brake System – Cars, trucks, and SUVs that have steering control and anti-lock brakes can avoid accidents and the ABS can save up to 10%.
• Waiver for an Accident – Not really a discount, but a handful of insurance companies will allow you to have one accident before your rates go up if you are claim-free for a set time period.
• Student Driver Training – Have your child take driver’s ed class in high school.

A quick disclaimer, most credits do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. If you do the math and it seems like having all the discounts means you get insurance for free, you aren’t that lucky.

If you would like to see a list of providers with significant discounts in Denver, click here.

Keep in mind that comparing more rates from different companies provides better odds of finding the best offered rates.

The providers in the list below provide comparison quotes in Denver, CO. If multiple companies are listed, it’s highly recommended you visit as many as you can to get a more complete price comparison.

Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Price estimates do not factor in zip code location which can revise premiums significantly.

Honda Fit insurance rates by gender

The information below shows the comparison of Honda Fit car insurance costs for male and female drivers. The rate quotes are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, marital status is single, and no discounts are applied.

Choosing deductibles

When comparing car insurance rates, the most common question is how high or low should comp and collision deductibles be. The comparisons below can help illustrate the price difference when you buy lower versus higher coverage deductibles. The first set of rates uses a $100 deductible and the second pricing table uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rates do not factor in vehicle location which can modify auto insurance rates substantially.

Using the data above, we can ascertain that using a $100 deductible costs approximately $25 more each month or $300 each year than buying the higher $500 deductible. Due to the fact that you would have to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 16 months between claims, you would more than likely save some money if you opt for a higher deductible.

Full coverage versus liability only rates

The diagram below visualizes the comparison of Honda Fit insurance costs when comparing full coverage to liability only. The premium estimates are based on no claims or driving citations, $250 deductibles, single female driver, and no discounts are taken into consideration.

When to stop buying comprehensive and collision coverage

There is no specific rule of when to eliminate full coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

For example, let’s pretend your Honda Fit claim settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $5,000 after paying your policy deductible. If you are paying in excess of $500 annually to have full coverage, then you might want to think about dropping full coverage.

There are some situations where only buying liability is not advised. If you still have a loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not drop full coverage.

Honda Fit Insurance Prices Can Be More Affordable

Lots of things are used in the calculation when you get a price on insurance. Some are obvious like a motor vehicle report, but some are more transparent such as your marital status or how financially stable you are. Consumers need to have an understanding of the factors that play a part in calculating auto insurance rates. When you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can earn you much lower annual insurance costs.

The factors shown below are some of the factors used by your company to calculate premiums.

• Mileage impacts premiums – The more you drive your Honda every year the higher your rate. A lot of insurance companies calculate rates based on their usage. Cars that sit idle most of the time receive better premium rates than those used for commuting. It’s a good idea to make sure your auto insurance declarations sheet shows the correct usage for each vehicle, because it can save money. A policy that improperly rates your Fit is just wasting money.
• Never have coverage lapses – Letting your insurance expire is a quick way to increase your auto insurance rates. In addition to paying higher rates, the inability to provide proof of insurance could result in a license revocation or jail time. You will then be forced to provide proof of insurance in the form of an SR-22 filing with the Colorado DMV.
• Safer vehicles means cheaper auto insurance rates – Vehicles that have high safety ratings tend to be cheaper to insure. Highly rated vehicles result in less severe injuries and fewer injuries means lower claim amounts and lower rates for you.
• Vehicle options that cut prices – Driving a car with a theft deterrent system can get you a discount on your auto insurance. Systems that thwart thieves like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help prevent vehicle theft.
• Big city or small town – Being located in a small town may provide you with better prices when buying auto insurance. Fewer drivers means less chance of accidents and a lower car theft rate. Drivers who live in large Colorado cities have much more traffic and much longer commute distances. More time on the road means more chances of being involved in an auto accident.
• Don’t get traffic citations – Having a clean driving record has a big impact on rates. Getting just one driving citation could increase your next policy renewal by as much as twenty percent. Drivers with clean records receive lower rates compared to bad drivers. Drivers who have received dangerous violations like DUI or willful reckless driving are required to submit a SR-22 form with their state’s department of motor vehicles in order to continue driving.
• Which gender costs less? – Statistics have proven females are less aggressive when driving. Now that doesn’t mean women are BETTER drivers than men. Women and men are responsible for fender benders in similar numbers, but the male of the species have costlier accidents. They also get ticketed for serious violations like DUI and reckless driving.
• Honda Fit claim statistics – Insurers analyze past claim statistics to help set a rate to offset losses. Models that the statistics show to have higher number or severity of losses will have increased rates. The table below demonstrates the insurance loss data used by companies for Honda Fit vehicles.

  For each policy coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is set at 100. Percentages below 100 represent a good loss history, while numbers shown that are more than 100 show a trend for more claims or tendency to have larger claims.

  Car Insurance Loss Data for Honda Fit Models

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Honda Fit	89	78	90	99	97	92

  BETTER

  AVERAGE

  WORSE

  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

What insurance coverages do I need?

When it comes to a policy, there really is no perfect coverage plan. Everyone’s needs are different so this has to be addressed. For example, these questions may help you determine if you would benefit from professional advice.

• What if an uninsured driver hits me?
• When should I remove my kid from my policy?
• Is my nanny covered when driving my vehicle?
• What is an adequate liability insurance limit?
• Are rock chip repairs covered?
• Does coverage extend to my business vehicle?
• Am I getting all the discounts available?
• Are split liability limits better than a combined single limit?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier

Local Denver car insurance agents and auto insurance

Some consumers would prefer to talk to a local agent and that is just fine! One of the great benefits of comparing insurance prices online is you can get better rates and still choose a local agent. And buying from local agencies is still important in Denver.

By using this short form, the quote information is transmitted to insurance agents in Denver who will give competitive quotes for your business. You won’t even need to search for any insurance agencies as quotes are delivered immediately to your email address. It’s the lowest rates without requiring a lot of work. In the event you want to get a comparison quote from one company in particular, you can always navigate to their website and fill out their quote form.

Deciding on an insurer shouldn’t rely on just a cheap price. Any good agent in Denver should know the answers to these questions.

• By raising physical damage deductibles, how much would you save?
• Will you get a loaner vehicle if you car is being repaired?
• Is the agency involved in supporting local community causes?
• Do they have designations such as AIC, CPCU, or CIC?
• Are they paid to recommend certain coverages?

If you feel you receive reasonable responses to any questions you have as well as offering an affordable quote, most likely you have located an insurer that meets your needs to service your policy.

Buying the right vehicle insurance in Colorado is an important decision

Despite the fact that insurance is not cheap in Denver, paying for insurance is required by state law in Colorado and it also provides benefits you may not be aware of.

First, the majority of states have mandatory insurance requirements which means you are required to carry a minimum amount of liability insurance coverage in order to be legal. 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 you have a loan on your vehicle, almost all lenders will make it a condition of the loan that you have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you cancel or allow the policy to lapse, the bank may buy a policy for your Honda at a much higher rate and require you to reimburse them a much higher amount than you were paying before.

Third, insurance preserves both your car and your personal assets. Insurance will pay for all forms of medical expenses that are the result of an accident. Liability insurance will also pay for a defense attorney if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the repair costs.

The benefits of having insurance more than offset the price you pay, especially if you ever need it. Unknowingly, the average driver is wasting up to $750 every year so it’s recommended you shop around at least once a year to ensure rates are competitive.

Don’t give up on cheap rates

When getting Denver car insurance quotes online, you should never buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured cut physical damage coverage only to regret that their decision to reduce coverage ended up costing them more. The goal is to find the BEST coverage at an affordable rate, but don’t skip important coverages to save money.

Cheaper insurance in Denver is possible on the web and with local Denver insurance agents, so you should compare both to get a complete price analysis. A few companies do not offer online rate quotes and these regional insurance providers work with independent insurance agencies.

More tips and info about insurance is located in these articles:

• What is Gap Insurance? (Insurance Information Institute)
• Who Has the Cheapest Denver Car Insurance for Nurses? (FAQ)
• Who Has Cheap Auto Insurance for College Graduates in Denver? (FAQ)
• Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
• Drunk Driving Statistics (Insurance Information Institute)