Baffled by the sheer number of auto insurance companies that you can choose from? There are so many companies available that it can easily turn into a chore to find a more affordable company. Denver is a great place to live, but expensive auto insurance rates makes it impossible to be able to buy decent coverage.
Unbelievable but true according to a study nearly 70% of drivers kept their coverage with the same auto insurance company for four years or more, and 38% of customers have never compared rates from other carriers. Colorado drivers could save $600 every year by just comparing quotes, but they just feel it’s too hard to do a rate comparison.
It is always a good idea to do price comparisons occasionally because insurance prices change quite often. Just because you had the best rates on Mitsubishi Lancer insurance in Denver a couple years back a different company probably has better rate quotes today. There is too much inaccurate information about Lancer insurance online but by reading this article, you’re going to learn some proven techniques to save money.
The fastest way that we advise to get policy rate comparisons for Mitsubishi Lancer insurance in Denver is to take advantage of the fact almost all companies have advanced systems to give free rates quotes. All you need to do is provide details like your credit rating estimate, if the car is leased, level of coverage desired, and what you do for a living. Those rating factors is instantly sent to all major companies and you should receive rate quotes within a short period of time.
If you wish to get multiple quotes for your Mitsubishi Lancer now, click here and enter the information requested.
The auto insurance companies shown below can provide quotes in Colorado. If multiple companies are shown, we suggest you get rate quotes from several of them to find the most competitive auto insurance rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $236 | $448 | $330 | $20 | $98 | $1,132 | $94 |
| Lancer ES | $190 | $340 | $352 | $20 | $106 | $1,008 | $84 |
| Lancer GTS | $294 | $608 | $368 | $22 | $110 | $1,402 | $117 |
| Lancer Sportback GTS | $234 | $480 | $474 | $28 | $142 | $1,358 | $113 |
| Lancer RALLIART | $296 | $554 | $358 | $22 | $108 | $1,338 | $112 |
| Lancer Sportback Ralliart | $360 | $862 | $396 | $24 | $118 | $1,760 | $147 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Table data does not factor in garaging location in Denver which can impact prices considerably.
Car insurance prices based on gender
The illustration below visualizes the comparison of Mitsubishi Lancer insurance costs for male and female drivers. The premiums assume no claims or violations, comp and collision included, $250 deductibles, drivers are single, and no discounts are applied to the premium.
Get discounts to get affordable Denver car insurance quotes
The cost of insuring your cars can be expensive, but there could be significant discounts that you may not even know about. Certain reductions will be credited at the time of purchase, but a few must be asked about before you will receive the discount.
- Accident Free – Insureds who avoid accidents and claims can earn big discounts when compared with bad drivers.
- Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to fasten their seat belts can save 10% or more off PIP or medical payments premium.
- Professional Memberships – Having an affiliation with a professional or civic organization could earn you a nice discount when getting a Denver auto insurance quote.
- Driver Training Discounts – Completing a defensive driver course could save 5% or more and also improve your driving technique.
- Data Collection Discounts – Insureds who allow driving data collection to scrutinize driving patterns by using a telematic data system like Allstate’s Drivewise could possibly reduce rates if they have good driving habits.
- Senior Citizen Discount – Older drivers are able to get better car insurance rates.
- Distant Student Discount – College-age children who live away from home to go to college and don’t have a car may be insured at a cheaper rate.
- ABS Braking Discount – Vehicles with ABS braking systems or traction control have fewer accidents and will save you 10% or more on Lancer insurance in Denver.
- Good Student Discount – Maintaining excellent grades can be rewarded with saving of up to 25%. The good student discount can last until age 25.
Discounts reduce rates, but you should keep in mind that most credits do not apply to all coverage premiums. The majority will only reduce individual premiums such as liability, collision or medical payments. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way.
A few of the larger companies and a summarized list of policyholder discounts can be read below.
- State Farm includes discounts for safe vehicle, multiple autos, student away at school, good driver, anti-theft, good student, and Steer Clear safe driver discount.
- Farmers Insurance offers discounts including pay in full, good student, early shopping, switch companies, and mature driver.
- GEICO may offer discounts for military active duty, anti-theft, seat belt use, air bags, defensive driver, and multi-policy.
- American Family offers discounts for mySafetyValet, TimeAway discount, Steer into Savings, multi-vehicle, accident-free, and early bird.
- Nationwide may have discounts that include good student, Farm Bureau membership, anti-theft, business or organization, multi-policy, defensive driving, and easy pay.
- Progressive has savings for continuous coverage, homeowner, online signing, good student, multi-vehicle, multi-policy, and online quote discount.
When getting a coverage quote, ask each company which credits you are entitled to. Some discounts listed above may not be available in Denver. For a list of providers who offer online Mitsubishi Lancer insurance quotes in Colorado, follow this link.
Local Denver insurance agencies
Many drivers still prefer to sit down with an agent and that is recommended in a lot of cases The best thing about price shopping on the web is the fact that you can find the best rates and still buy from a local agent. Buying insurance from local insurance agencies is important especially in Denver.
To make it easy to find an agent, after completing this quick form, your insurance data is emailed to local insurance agents in Denver that give free quotes and help you find cheaper coverage. It’s much easier because you don’t need to find an agent on your own because quoted prices will be sent directly to your email. You can find the lowest rates and a licensed agent to work with. If for some reason you want to compare rates from a specific car insurance provider, you can always jump over to their website to submit a rate quote request.
When narrowing the list to find an insurance agent, you need to know there are two different types of agents and how they function. Denver agents are categorized either independent agents or exclusive agents depending on their employer.
Independent Agencies or Brokers
Agents in the independent channel are not locked into one company and that is an advantage because they can write policies through many companies and find the cheapest rate. If you want to switch companies, the agent simply finds a different carrier and the insured can keep the same agent.
When shopping rates, you definitely need to include rate quotes from several independent agencies for the best price selection. A lot of them also have access to mutual insurance companies which may provide better rates.
Featured below are independent agents in Denver that can possibly get you free rate quotes.
- American Home Insurance Agency
7505 E Harvard Ave – Denver, CO 80231 – (888) 325-8108 – View Map - Westwood Insurance
57 W Alameda Ave – Denver, CO 80223 – (303) 722-2841 – View Map - Mile High Insurance Agency
4704 Harlan St #360 – Denver, CO 80212 – (303) 237-5445 – View Map
Exclusive Insurance Agencies
These agents can only place business with one company such as AAA, Allstate, State Farm, or Farmers Insurance. They are unable to give you multiple price quotes so they have no alternatives for high prices. Exclusive agents are well trained on what they offer which helps them compete with independent agents. A lot of people purchase coverage from exclusives mainly due to the prominence of the brand and the convenience of having a single billing for all their coverages.
Listed below is a list of exclusive insurance agents in Denver that are able to give price quote information.
- Bob Chapman – State Farm Insurance Agent
2335 E Evans Ave – Denver, CO 80210 – (303) 777-3005 – View Map - Allstate Insurance: Denise Hoffman
535 16th St #350 – Denver, CO 80202 – (303) 628-0554 – View Map - Val Laskowski – State Farm Insurance Agent
5353 W Dartmouth Ave #410 – Denver, CO 80227 – (303) 987-8849 – View Map
Deciding on an car insurance agent requires more thought than just a cheap quote. Ask your prospective agent these questions:
- Can glass repairs be made at your home?
- Do the agents have professional certifications like CPCU or CIC?
- Are you getting all the discounts the company offers?
- Are they actively involved in the community?
- How often do they review policy coverages?
- How long have they been in business?
How to Lower Your Insurance Prices
The best way to find cheaper auto insurance is to take a look at the different types of things that play a part in calculating your 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 reward you with much lower annual insurance costs. Lots of factors are considered when you quote your car insurance policy. Some are pretty understandable such as your driving history, although others are less apparent such as whether you are married and annual miles driven.
The following are some of the things companies use to determine your rates.
- High deductibles equal low rates – Insurance for physical damage to your car, also called ‘full coverage’, is used to repair damage to your vehicle. Some examples of claims that would be covered would be a broken windshield, flood damage, and windstorm damage. Deductibles for physical damage are how much you are required to spend out-of-pocket if the claim is covered. The larger the amount you pay before a claim is paid (deductible), the less money you will pay for auto insurance.
- Stay claim-free and reduce prices – If you tend to file frequent claims, you can expect higher premiums or even policy non-renewal. Insurance companies in Colorado generally give cheaper rates to people who do not rely on their insurance for small claims. Insurance coverage is intended for claims that you cannot pay yourself.
- Better drivers pay lower prices – Whether or not you get tickets impacts premiums far more than you think. Careful drivers pay lower auto insurance prices compared to drivers with tickets. Getting just one ticket can bump up the cost to the point where it’s not affordable. Drivers who have gotten flagrant violations like DUI or willful reckless driving may find that they have to to prove financial responsibility with their state DMV in order to prevent their license from being revoked.
- The higher your credit rating the lower your premiums – An insured’s credit score is a large factor in calculating your auto insurance rates. If your credit is low, you could be paying less to insure your Mitsubishi Lancer by improving your credit score. Insureds with good credit tend to file fewer claims than drivers with worse credit.
- Single drivers take more risk – Walking down the aisle may save some money on your auto insurance policy. Marriage usually means you are more financially stable it has been statistically shown that married couples file fewer claims.
- Does your vocation cost you more? – Occupational choices like fire fighters, executives and stock brokers tend to pay higher average rates attributed to job stress and long work hours. Other occupations like farmers, historians and homemakers have lower than average premiums.
- Mitsubishi Lancer historical loss data – Insurers use historical loss data when they calculate premium costs for each model. Models that historically have a trend towards higher claim severity or frequency will have a higher premium rate. The table below shows the historical loss data for Mitsubishi Lancer vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, as an average, is considered to be 100. Values that are under 100 indicate better than average losses, while numbers that are greater than 100 indicate a higher chance of having a claim or tendency to have higher losses.
Mitsubishi Lancer Insurance Claim Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mitsubishi Lancer 2WD 153 146 127 192 218 172 Mitsubishi Lancer 4WD 149 131 148 135 Mitsubishi Lancer Evolution 4WD 225 123 221 Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why auto insurance is not optional
Despite the high cost, insurance may be required for several reasons.
- The majority of states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability coverage in order to drive the car. 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.
- If you took out a loan on your Lancer, it’s most likely the lender will stipulate that you have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you let the policy lapse, the bank or lender will purchase a policy for your Mitsubishi at a significantly higher premium and force you to pay for the much more expensive policy.
- Auto insurance preserves both your Mitsubishi Lancer and your personal assets. Insurance will pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of carrying adequate insurance greatly outweigh the cost, particularly if you ever have a claim. But the average American driver overpays more than $700 annually so smart consumers compare quotes at every policy renewal to make sure the price is not too high.
You can lower your car insurance rates
Cost effective Mitsubishi Lancer insurance is attainable from both online companies and with local Denver insurance agents, so get free Denver auto insurance quotes from both of them in order to have the best chance of saving money. A few companies may not offer internet price quotes and many times these regional insurance providers only sell coverage through independent agents.
Consumers switch companies for many reasons like lack of trust in their agent, questionable increases in premium, policy non-renewal and even being labeled a high risk driver. Whatever your reason, finding a new car insurance company can be pretty painless.
We’ve covered a lot of information how to save on Mitsubishi Lancer insurance in Denver. It’s most important to understand that the more times you quote, the better your chances of lowering your prices. You may even be surprised to find that the biggest savings come from the smaller companies.
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