How many times have you told yourself to find cheaper car insurance rates in Phoenix, AZ? Phoenix drivers have a choice when trying to find low-cost Kia Optima insurance. You can either waste hours driving around to get rate comparisons or use the internet to find the lowest rates. There is a better way to find car insurance online and you need to know the absolute fastest way to quote coverages for your Kia and find the cheapest rates from Phoenix insurance agents and online providers.
It’s important to price shop coverage periodically since prices go up and down regularly. If you had the best rate on Kia Optima insurance in Phoenix a couple years back you will most likely find a better premium rate today. Forget anything you know (or think you know) about car insurance because you’re about to learn the best methods to properly buy coverages and cut your premium.
Informed Consumers Know How to Find Car Insurance for Less
Many factors are considered when you quote your car insurance policy. A few of the factors are predictable such as traffic violations, but some are not as apparent such as whether you are married or how financially stable you are. When buying car insurance it’s important to understand the rating factors that are used to determine the rates you pay for car insurance. When you understand what determines base rates, this enables you to make decisions that can help you get lower car insurance prices.
Shown below are some of the factors car insurance companies consider when setting premiums.
- Raising coverage deductibles saves money – Insurance for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your vehicle. Some examples of covered claims are a broken side mirror, damage from fire, and windstorm damage. Comprehensive and collision coverage deductibles are the amount of money the insured will be required to pay if a claim is determined to be covered. The more damage repair cost you pay before a claim is paid (deductible), the lower your rates will be.
- What are good liability coverage limits? – Liability coverage will provide protection if a court rules you are at fault for causing damage or personal injury in an accident. Your policy’s liability insurance provides legal defense to defend your case. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so drivers should carry high limits.
- Insurance is expensive for teenage drivers – Older, more experienced drivers are viewed as being more responsible, cause fewer claims and accidents, and are generally more financially stable.Drivers with little experience have been known to get distracted easily when at the wheel of a vehicle so they pay higher car insurance rates.
- Lower premiums for vehicles with better crash test results – Cars with five star safety ratings cost less to insure. Vehicles built for safety protect occupants better and any reduction in injury severity means your insurance company pays less and cheaper rates on your policy. If your Kia Optima scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
- Better car insurance rates for no policy lapses – Having a lapse in insurance coverage is a guaranteed way to pay more for car insurance. And not only will your rates increase, not being able to provide proof of insurance can result in a revoked license or a big fine. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the Arizona DMV.
- Insurance costs and driver gender – Statistics show that females take fewer risks when driving. That doesn’t necessarily mean that females are better drivers. Both genders are responsible for accidents in similar numbers, but men get into accidents with more damage. Not only that, but men also receive more major tickets such as DWI and reckless driving.
- Getting married can lower rates – Having a spouse may save some money when shopping for car insurance. It usually means you are more stable financially and insurance companies like that married couples file fewer claims.
- Kia Optima insurance loss statistics – Insurers use historical loss data to calculate a price that offsets possible losses. Models that statistically have higher prevalence or dollar amount of losses will cost more to insure.
The table below demonstrates the actual insurance loss data for Kia Optima vehicles. For each coverage category, the loss probability for all vehicles, without regard to make or model, is equal to 100. Numbers below 100 represent a good loss history, while values that are 100 or greater point to more claims or larger claims.
Kia Optima Insurance Loss Statistics
Specific Kia Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Kia Optima 115 101 107 133 142 120 Kia Optima Hybrid 143 115 116 139 158 151 Statistics from IIHS.org for 2013-2015 Model Years
How to shop Kia Optima insurance online
The majority of larger companies provide pricing on their websites. This process is fairly straightforward because it’s just a matter of typing in your required coverages on the page. When the form is submitted, the company’s rating system will order your credit score and driving record and returns pricing information based on many factors.
Being able to quote online for Kia Optima insurance in Phoenix makes it easy to compare insurance prices and it is important to have as many quotes as possible in order to get the best rate possible.
To save time and compare pricing, consider comparing rates from the companies shown below. If you currently have coverage, we recommend you enter the limits and deductibles exactly as they are listed on your policy. This helps ensure you will have rate quotes for exact coverage.
The following companies are ready to provide price comparisons in Arizona. If multiple companies are listed, we suggest you visit several of them to get the most affordable price.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Optima LX | $258 | $480 | $458 | $28 | $136 | $1,360 | $113 |
| Optima EX | $162 | $290 | $338 | $20 | $102 | $912 | $76 |
| Optima SX | $250 | $538 | $382 | $22 | $114 | $1,306 | $109 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in Phoenix location which can change rates substantially.
Kia Optima full coverage rates compared to liability only
The example below shows the difference between Kia Optima yearly insurance costs with and without full coverage. The prices are based on no claims or driving citations, $100 deductibles, married male driver, and no discounts are factored in.
When to stop buying physical damage coverage
There is no definitive rule to eliminate physical damage insurance, but there is a general convention. If the yearly cost of full coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s pretend your Kia Optima replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after the policy deductible has been paid. If you are paying over $400 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are some cases where buying only liability insurance is not recommended. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
Auto insurance rates by gender and age
The example below illustrates the difference between Kia Optima insurance rates for male and female drivers. The information is based on no claims or violations, full coverage, $100 deductibles, marital status is single, and no policy discounts are applied.
An analysis of deductible level
One common question asked by Phoenix drivers is which deductibles should you choose. The following tables lay out the differences in price between high and low deductibles. The first price estimate table uses a $100 comprehensive and collision deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Optima LX | $258 | $466 | $338 | $20 | $102 | $1,209 | $101 |
| Optima EX | $292 | $548 | $338 | $20 | $102 | $1,325 | $110 |
| Optima SX | $292 | $548 | $338 | $20 | $102 | $1,325 | $110 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Optima LX | $188 | $314 | $338 | $20 | $102 | $962 | $80 |
| Optima EX | $212 | $370 | $338 | $20 | $102 | $1,042 | $87 |
| Optima SX | $212 | $370 | $338 | $20 | $102 | $1,042 | $87 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Table data does not factor in your specific Phoenix location which can modify rates substantially.
Using the premium rates above, we can conclude that using a $100 deductible will cost in the ballpark of $22 more each month or $264 a year than selecting the higher $500 deductible. Since you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you go at a minimum 18 months between claim filings, you would probably come out ahead by selecting a higher deductible.
Calculate deductible break even point
| Average monthly premium for $100 deductibles: | $107 |
| Average monthly premium for $500 deductibles (subtract): | – $85 |
| Monthly savings from raising deductible: | $22 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $22 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 18 months |
One important note is that raising deductibles means you will have to cover more of the damage yourself when you have to file a claim. You should have some funds available in the event you have to pay the deductible for vehicle repair.
Choosing Optima insurance is an important decision
Even though it can be expensive, insuring your vehicle is a good idea for several reasons.
- The majority of states have compulsory liability insurance requirements which means you are required to carry specific limits of liability coverage in order to get the vehicle licensed. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your vehicle, it’s guaranteed your bank will stipulate that you have full coverage to guarantee loan repayment. If you let the policy lapse, the lender may have to buy a policy to insure your Kia at an extremely high rate and force you to reimburse them for the expensive policy.
- Insurance protects not only your Kia but also your assets. Insurance will also pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, will also pay to defend you if you are sued as the result of an accident. If your Kia gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of insuring your Optima more than cancel out the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is overpaying more than $855 a year so you should quote your policy with other companies at every renewal to be sure current rates are still competitive.
Verify you’re receiving every discount
Insurance is not an enjoyable expense, but you might already qualify for some discounts to reduce the price significantly. Some discounts will apply when you quote, but lesser-known reductions have to be specially asked for before being credited.
- Anti-lock Brake Discount – Cars and trucks that have anti-lock braking systems have fewer accidents so companies give up to a 10% discount.
- Cautious Drivers – Drivers who avoid accidents could pay up to 40% less than drivers with accidents.
- Driver Safety – Successfully completing a course teaching driver safety skills could possibly earn you a 5% discount and also improve your driving technique.
- Paperwork-free – Many larger companies may give you up to $50 for buying a policy and signing up digitally online.
- No Charge for an Accident – This one is not really a discount per se, but a few companies such as GEICO, Allstate and Liberty Mutual will allow you to have one accident before they charge you more for coverage if your claims history is clear prior to the accident.
- Good Student – A discount for being a good student can save 20 to 25%. Earning this discount can benefit you up until you turn 25.
- Student Discount for Driver Training – Reduce the cost of insurance for teen drivers by having them participate in a local driver’s education class if offered at their school.
Keep in mind that most credits do not apply to the whole policy. The majority will only reduce the cost of specific coverages such as medical payments or collision. So even though it sounds like all the discounts add up to a free policy, insurance companies aren’t that generous.
A few popular companies and a partial list of their discounts are outlined below.
- State Farm offers discounts for driver’s education, safe vehicle, multiple autos, multiple policy, student away at school, anti-theft, and defensive driving training.
- Progressive may have discounts that include online signing, online quote discount, homeowner, multi-vehicle, and multi-policy.
- Travelers has discounts for home ownership, hybrid/electric vehicle, continuous insurance, multi-car, save driver, and IntelliDrive.
- American Family offers discounts including early bird, bundled insurance, good driver, Steer into Savings, and mySafetyValet.
- Liberty Mutual offers premium reductions for exclusive group savings, multi-policy, new move discount, multi-car, preferred payment discount, and teen driver discount.
Double check with every prospective company how you can save money. A few discounts might not be available to policyholders in your state.
Car insurance agents near you
Certain consumers still prefer to visit with an insurance agent and often times that is recommended Licensed agents are trained risk managers and help in the event of a claim. One of the benefits of comparing rates online is you may find cheap insurance rates but still work with a licensed agent.
Once you complete this simple form, your coverage information is instantly submitted to local insurance agents who can give free rate quotes and help you find cheaper coverage. It’s much easier because you don’t need to leave your computer due to the fact that quote results will go instantly to you. If for some reason you want to compare rates from a specific company, don’t hesitate to navigate to their website and fill out the quote form the provide.
Selecting a company needs to be determined by more than just a cheap price. Any agent in Phoenix should be forthright in answering these questions:
- Will you work with the agent or an assistant?
- Do the coverages you’re quoting properly cover your vehicle?
- How often do they review coverages?
- What will you get paid if your car is a total loss? How is that amount determined?
- What insurance companies do they recommend if they are an independent agent?
Listed below are agents in Phoenix willing to provide price quotes for Kia Optima insurance in Phoenix.
- Mattie Taylor – State Farm Insurance Agent
4225 W Bell Rd – Phoenix, AZ 85053 – (602) 938-4491 – View Map - Severiano Torres III – State Farm Insurance Agent
1820 N 75th Ave #106 – Phoenix, AZ 85035 – (623) 846-0240 – View Map - John Abercrombie III – State Farm Insurance Agent
7207 N 7th St – Phoenix, AZ 85020 – (602) 906-0299 – View Map - Jacob Rosell – State Farm Insurance Agent
2218 N 24th St – Phoenix, AZ 85008 – (602) 267-8200 – View Map
After you get acceptable answers to your questions in addition to an acceptable price estimate, you may have just found an insurer that meets the requirements to provide insurance coverage.
Compare. Compare. Compare.
Drivers leave their current company for a variety of reasons including unfair underwriting practices, lack of trust in their agent, being labeled a high risk driver and an unsatisfactory settlement offer. Whatever your reason, finding a new company can be pretty painless.
Lower-priced car insurance in Phoenix can be found both online as well as from independent agents in Phoenix, and you should compare rates from both to get a complete price analysis. Some car insurance companies may not offer internet price quotes and usually these small insurance companies only sell coverage through independent insurance agencies.
When you buy Phoenix auto insurance online, it’s very important that you do not buy poor coverage just to save money. There are too many instances where drivers have reduced uninsured motorist or liability limits and discovered at claim time they didn’t have enough coverage. Your goal should be to purchase plenty of coverage for the lowest price while still protecting your assets.
More information is located at the links below
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- What Insurance is Cheapest for Infrequent Drivers in Phoenix? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with Bad Credit in Phoenix? (FAQ)
- Who Has Affordable Phoenix Auto Insurance for State Employees? (FAQ)
- What Auto Insurance is Cheapest for a Hyundai Elantra in Phoenix? (FAQ)
- Who Has the Cheapest Car Insurance for Handicapped Drivers in Phoenix? (FAQ)
- How Much are Auto Insurance Quotes for a Hyundai Santa Fe in Phoenix? (FAQ)
- What Car Insurance is Cheapest for Safe Drivers in Phoenix? (FAQ)
- Who Has Affordable Auto Insurance for a Jeep Wrangler in Phoenix? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- Neck Injury FAQ (iihs.org)