Car Insurance Quotes for a Mitsubishi Outlander in Denver

Feeling guilty for buying an overpriced car insurance policy? Don’t feel bad because there are a lot of people in Denver just like you who feel imprisoned by their car insurance policy.

Unbelievably, the vast majority of Colorado car insurance customers renewed their policy with the same company for over three years, and nearly 40% of drivers have never even shopped around for affordable coverage. The average driver in the U.S. can cut their rates by $850 a year just by getting comparison quotes, but they just don’t want to compare rate quotes. Lots of car insurance companies contend for your hard-earned dollar, so it can be very hard to choose a insurance company to get the cheapest price on Mitsubishi Outlander insurance in Denver.

Consumers need to quote other rates yearly because insurance prices are adjusted regularly by insurance companies. Just because you found the lowest rates on Mitsubishi Outlander insurance in Denver a year ago there may be better deals available now. You can search a lot of Outlander insurance online, but in this article, you’re going to get some excellent ideas to buy car insurance cheaper in Denver.

The car insurance companies shown below offer price comparisons in Colorado. If more than one company is shown, we recommend you compare several of them in order to get a fair rate comparison.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Price information does not factor in specific location information which can revise coverage prices greatly.

Physical damage deductibles

When comparing car insurance rates, the most common question is which deductibles should you choose. The data tables below show the rate fluctuation when you buy lower versus higher insurance deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second set of rates 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, homeowner, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in specific location which can raise or lower auto insurance rates significantly.

We can estimate from the data above that using a $250 deductible will cost you about $15 more each month or $180 annually than selecting the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you have more than 17 months between claim filings, you would save money if you elect the higher deductible.

Rate difference between full and liability-only coverage

The chart below examines Mitsubishi Outlander insurance rates with full physical damage coverage compared to only buying liability only. The data assumes no claims or driving violations, $250 deductibles, married female driver, and no discounts are applied.

Guidelines for dropping full coverage

There is no clear-cut rule that is best for determining when to drop physical damage insurance, but there is a general school of thought. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.

For example, let’s assume your Mitsubishi Outlander replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after the policy deductible has been paid. If you are paying over $600 a year for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.

There are some cases where only buying liability is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not buy liability only.

Poor driving habits will raise your car insurance rates

The example below highlights how speeding tickets and fender-benders drive up Mitsubishi Outlander yearly insurance costs for different categories of driver ages. The price estimates are based on a single female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.

Insuring your Mitsubishi vehicle just makes sense

Despite the high cost, maintaining insurance is a good idea for several reasons.

• Just about all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability insurance coverage if you drive a vehicle. 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 have a loan on your Mitsubishi, almost all lenders will stipulate that you have physical damage coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank may insure your Mitsubishi for a much higher rate and make you pay the higher premium.
• Insurance protects not only your vehicle but also your assets. It will also pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, will also pay attorney fees in the event you are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.

The benefits of insuring your Outlander definitely exceed the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is overpaying more than $800 each year so compare quotes from several companies every year to save money.

Denver insurance discounts for a Mitsubishi Outlander

Some providers don’t always list every possible discount very clearly, so the list below details both well-publicized and the harder-to-find credits that you can use to lower your rates.

• Discount for Swiching Early – A few insurance companies allow discounts for renewing your policy before your current coverage expires. This can save 10% or more.
• ABS and Traction Control Discounts – Cars equipped with ABS or steering control are much safer to drive so companies give up to a 10% discount.
• Discounts for Seat Belt Usage – Buckling up and requiring all passengers to use a seat belt could cut 10% or more off the PIP or medical payment premium.
• Low Miles Discount – Low annual miles could qualify for discounted prices on garaged vehicles.
• Pay Early and Save – If you pay your entire premium ahead of time rather than paying in monthly installments you can avoid monthly service charges.
• Multi-car Discount – Insuring several vehicles on the same auto insurance policy can reduce the rates for all insured vehicles.
• Responsible Driver Discounts – Drivers without accidents can save as much as half off their rates compared to accident prone drivers.
• Claim Free – Insureds with no claims or accidents have much lower rates in comparison to policyholders that have many claims.

Discounts save money, but please remember that most of the big mark downs will not be given to the overall cost of the policy. Some only reduce specific coverage prices like liability and collision coverage. If you do the math and it seems like all those discounts means the company will pay you, you won’t be that lucky.

Larger auto insurance companies and their offered discounts can be found below.

• American Family may have discounts that include defensive driver, good driver, air bags, early bird, and bundled insurance.
• State Farm offers discounts including student away at school, Drive Safe & Save, defensive driving training, Steer Clear safe driver discount, multiple autos, and safe vehicle.
• 21st Century has savings for student driver, anti-lock brakes, good student, 55 and older, theft prevention, air bags, and early bird.
• Travelers discounts include multi-policy, IntelliDrive, new car, home ownership, driver training, good student, and continuous insurance.
• GEICO has discounts for multi-policy, membership and employees, good student, federal employee, defensive driver, military active duty, and driver training.

It’s a good idea to ask all the companies which credits you are entitled to. All car insurance discounts might not be offered on policies in your area.

Shop online but buy locally

Many drivers prefer to buy from a local agent and there is nothing wrong with that. Good agents can answer important questions and give you someone to call. A good thing about comparing rate quotes online is the fact that you can find the best rates and still choose a local agent.

Upon completion of this form (opens in new window), your insurance data is immediately sent to local insurance agents that can provide free Denver car insurance quotes for your insurance coverage. It’s much easier because you don’t need to contact an agency due to the fact that quote results will go to you instantly. If you need to get a price quote for a specific company, you can always search and find their rate quote page and give them your coverage information.

Deciding on an company requires more thought than just a cheap quote. These are some valid questions you should ask.

• Do they carry Errors and Omissions coverage?
• What insurance company do they write the most business with?
• How many years have they been established?
• How would your car be valued if totalled?
• Do they have 24-hour customer assistance?
• Is insurance their full-time profession?

Two different types of car insurance agents

If you want to use a reliable agent, it’s helpful to know the different types of agents and how they function. Insurance agencies in Denver can be described as either independent or exclusive. Both can sell and service car insurance coverage, but it’s important to point out the differences because it may have an impact on the type of agent you choose.

Exclusive Insurance Agents

Agents that elect to be exclusive can only provide one company’s prices and examples are State Farm, AAA, and Liberty Mutual. Exclusive agents cannot provide prices from multiple companies so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are usually quite knowledgeable on the products they sell which helps them sell insurance even at higher premiums.

Listed below are Denver exclusive insurance agencies who may provide you with price quotes.

More insurance agents

Independent Agents (or Brokers)

Agents in the independent channel often have many company appointments so they can insure your vehicles with a variety of different insurance companies and find you the best rates. To move your coverage to a new company, the agent simply finds a different carrier and you won’t have to switch agencies.

When searching for an agent, you will definitely want to compare prices from several independent agencies to get the best comparison.

Below is a list of independent agents in Denver that are able to give rate quotes.

More insurance agents

Auto insurance coverage options for a Mitsubishi Outlander

Learning about specific coverages of your auto insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and coverage can change by endorsement. These are typical coverages found on the average auto insurance policy.

Liability insurance

This coverage protects you from damage or injury you incur to a person or their property. It protects you against claims from other people. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 25/50/15 that means you have $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $15,000.

Liability insurance covers claims such as pain and suffering, attorney fees, repair bills for other people’s vehicles and court costs. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford. Colorado state law requires minimum liability limits of 25/50/15 but it’s recommended drivers buy more liability than the minimum.

Collision coverage

Collision insurance pays for damage to your Outlander from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like colliding with a tree, sideswiping another vehicle and driving through your garage door. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible on your Outlander to save money on collision insurance.

Medical expense coverage

Med pay and PIP coverage provide coverage for immediate expenses such as surgery, funeral costs and ambulance fees. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Comprehensive protection

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for things like rock chips in glass, theft, hail damage, a broken windshield and a tree branch falling on your vehicle. The maximum payout your auto insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include injuries to you and your family and damage to your Mitsubishi Outlander.

Since many Colorado drivers carry very low liability coverage limits (Colorado limits are 25/50/15), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Don’t give up on affordable rates

We covered many ways to save on Mitsubishi Outlander insurance in Denver. The key thing to remember is the more times you quote, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest priced auto insurance comes from the least-expected company. These smaller insurers may have significantly lower prices on certain market segments than their larger competitors like State Farm or Progressive.

When you buy Denver car insurance online, it’s very important that you do not skimp on coverage in order to save money. There are too many instances where someone dropped collision coverage to discover at claim time that they should have had better coverage. The aim is to find the BEST coverage at an affordable rate but still have enough coverage for asset protection.

Budget-conscious Mitsubishi Outlander insurance is attainable from both online companies in addition to local insurance agencies, and you should compare price quotes from both so you have a total pricing picture. There are still a few companies who may not provide rates over the internet and most of the time these small insurance companies only sell through local independent agencies.

For more information, link through to the articles below:

• Keeping Children Safe in Crashes Video (iihs.org)
• Who Has the Cheapest Auto Insurance for Homeowners in Denver? (FAQ)
• Who Has Affordable Auto Insurance Rates for First-time Drivers in Denver? (FAQ)
• Who Has the Cheapest Car Insurance for a GMC Sierra in Denver? (FAQ)
• New head restraint design cuts injuries (Insurance Institute for Highway Safety)
• Coverage Information (Progressive Insurance)