Wouldn't it be great if we could instantly tell you the one best company that has the cheapest policy rates for active military? It's not that simple, unfortunately, as there are many unknown factors such as how experienced of a driver you are, the annual mileage you drive, the crime level of your neighborhood, and whether you are female or male, that all have an effect on the price. We are going to cover these topics and will give you a jump start in finding the best auto insurance for military.
Shopping around for cheap auto insurance is not always easy, and determining which companies quote the cheapest auto insurance rates for active military in Colorado requires even more diligence. Prices could be moderately cheaper than the average rate in Colorado, with the lower cost attributed to the decrease in risk that goes along with offering insurance for military personnel. Cost-effective coverage should be easy to find from many providers.
Every auto insurer has their own formula for setting prices, so let's begin by examining the most affordable auto insurance companies in Colorado.
Best Insurance Companies for Military
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,576|
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The Hartford normally has some of the cheapest car insurance rates in Colorado at around $825 a year. Grange, USAA, GEICO, and Nationwide would also make the list of some of the most economical Colorado auto insurance companies.
As depicted above, if you are insured with GEICO and switched to The Hartford, you might realize an annual premium reduction of in the vicinity of $316. Policyholders with Nationwide may save as much as $318 a year, and Travelers insureds might realize rate reductions of up to $358 a year.
If you want to find out if you're overpaying, click here to start your free quote or quote prices from the following companies.
It's important to note that these rates are averages across all ages of drivers and types of vehicles and do not factor in a rate discount for active military. So the insurer that can offer you the best rate may not even be in the list above. That's why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
The vehicle that needs insurance is one of the primary factors when comparing the best car insurance for active military. Vehicles with high performance features, a lack of advanced safety features, or a history of substantial liability claims will cost much more to insure than more economical and safe models. The information below shows auto insurance rates for the more afforable vehicles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$954|
|Honda Odyssey EX W/Rear Entertainment||$1,009|
|Ford Escape Limited 2WD||$1,011|
|Chevrolet Impala LT||$1,028|
|Volkswagen Jetta LE 4-Dr Sedan||$1,034|
|Toyota RAV4 Limited 4WD||$1,028|
|Jeep Grand Cherokee Laredo 4WD||$1,035|
|Ford F-150 Lariat Crew Cab 2WD||$1,047|
|Ford Focus SEL 4-Dr Sedan||$1,066|
|Toyota Corolla S||$1,085|
|Hyundai Elantra SE 4-Dr Sedan||$1,091|
|Nissan Rogue S AWD||$1,101|
|GMC Sierra SLT Extended Cab 2WD||$1,104|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,114|
|Chevrolet Silverado LTZ Extended Cab 4WD||$1,104|
|Dodge Grand Caravan Hero||$1,129|
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Information does not factor in your specific Colorado location which can change auto insurance rates greatly.
Based upon the table data, we can tell that vehicles like the Honda CR-V, Honda Odyssey, Ford Escape, Chevrolet Impala, and Volkswagen Jetta will be the most affordable vehicles to insure for military personnel.
The example below shows how different deductible levels can influence insurance prices when searching for cheap insurance for active military in Colorado. The price estimates are based on a married female driver, full coverage, and no discounts are applied to the premium.
The chart above illustrates that a 30-year-old driver could lower rates by $376 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $566 by selecting a $1,000 deductible. Young drivers, like the age 20 example, could possibly save as much as $802 every year by selecting a higher deductible.
When choosing a higher deductible, it is necessary to have enough savings to enable you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Full coverage versus liability-only
Saving money when shopping for auto insurance is probably important to most vehicle owners, and a good way to pay less for insurance for active military in Colorado is to only buy liability insurance. The chart below illustrates the difference between insurance prices with full physical damage coverage compared to only buying liability only. The rates are based on no claims, a clean driving record, $1,000 deductibles, single status, and no discounts are taken into consideration.
As an average, comprehensive and collision coverage on your policy costs $1,476 per year over having just liability coverage. That is a large expense which might make you wonder if paying for full coverage is worth it. There is no specific rule of when to exclude comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
Why you should shop around
Colorado auto insurance rates are influenced by many factors that can increase the price you pay. Getting older, buying a different home, or getting a speeding ticket may prompt premium changes that can now make some companies much cheaper than others. Not only may things change on your end, but companies change the rates they charge in Colorado without warning in order to remain profitable. Unexpectedly high claims may result in more expensive premiums, while long-term profits may result in cheaper Colorado car insurance rates.
The data below compares the cheapest car insurance in Colorado for a 30-year-old female driver with no accidents or violations, and solid credit. When quoting prices based on her current risk profile, The Hartford has the best car insurance rates in Colorado at $850 annually. This is $728 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the top five cheapest Colorado auto insurance companies.
The example below compares rates after we give the driver from the first set of rates an accident surcharge, slightly worse credit, and a few blemishes on her driving record. Since every car insurance company uses a different method for setting prices, comparing quotes may now show a different list of affordable Colorado car insurance companies as shown below.
State Farm now has the lowest car insurance rate in Colorado with Travelers, American Family, USAA, and Progressive also having competitive pricing. This illustrates why it is so important to compare lots of rates to find the most affordable car insurance quotes for active military.
Car insurance prices are determined by many things and change dramatically, so the lowest-price company the last time you shopped around may now be quite expensive.
Ideas for finding more affordable auto insurance for active military in Colorado
The list below summarizes some of the recommended penny-pinching ideas that can help Colorado drivers get more affordable auto insurance.
- Increase your policy deductibles
- Do not insure for full coverage
- You will pay more if you get tickets or have at-fault accidents
- Accidents can significantly increase rates
- Increase your credit score
- Vehicles with good safety ratings are usually cheaper to insure
- Compare rates regularly and switch companies to save money
That last piece of advice is remarkably valuable, as was affirmed in the prior article. Car insurance rates can be modified anytime, so don't be unwilling to change to a new company if you find a cheaper price. Staying with the same car insurance company is fine, but we do not recommend it if that faithfulness ends up costing you major coinage every year. It only takes a couple minutes to shop around and find cheaper insurance for active military.