Trying to find reasonably-priced insurance is not easy, and finding out which company quotes the cheapest car insurance rates for real estate agents in Colorado requires a little more work.
Every insurance company uses a little different formula for establishing rates, so we need to take a look at the car insurance companies that tend to have lower prices in Colorado. Keep in mind that Colorado car insurance rates are impacted by many factors that will increase or decrease your annual premium. This price variation is why Colorado drivers need to perform a complete rate comparison to find the most affordable insurance rates for real estate agents. Auto insurance prices are influenced by many things and change dramatically, so the best price six months ago may now be wasting a lot of money.
Best Cheap Insurance Rates for Realtors
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
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The Hartford normally has some of the lowest car insurance rates in Colorado at around $859 each year. Grange, USAA, Nationwide, and Auto-Owners also make the cut as some of the lowest-priced Colorado car insurance companies.
As shown above, if you have coverage with Grange and switched to The Hartford, you might achieve an annual savings of upwards of $128. Customers with USAA may save as much as $150 a year, and Nationwide customers might cut rates by $250 a year.
Remember that these premiums are averages across all drivers and vehicles and do not take into consideration a price discount for real estate agents. So the car insurance company that has the cheapest price for you may not even be in the list above. That is why you need to get car insurance quotes using your own driver information and specific vehicle type.
The make and model of vehicle requiring coverage is one of the biggest factors when comparing the lowest-priced auto insurance for real estate agents. Vehicles with higher performance characteristics, poor safety features, or high incidents of liability claims will cost more to insure than more modest models.
The data below illustrates insurance prices for the most budget-friendly vehicles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$872|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$954|
|Ford Escape XLS 4WD||$960|
|Honda Accord LX-P 4-Dr Sedan||$984|
|Ford Edge Limited 2WD||$1,009|
|Chevrolet Impala LS||$1,018|
|Chevrolet Malibu LS||$1,028|
|GMC Sierra SLE Regular Cab 2WD||$1,035|
|Chevrolet Equinox LT AWD||$1,028|
|Ford Explorer XLT 2WD||$1,068|
|Ford F-150 Lariat Crew Cab Platinum 2WD||$1,104|
|Toyota Tacoma 4WD||$1,108|
|Toyota RAV4 2WD||$1,129|
|Nissan Altima 2.5 4-Dr Sedan||$1,136|
|Honda Odyssey EX||$1,135|
|Dodge Grand Caravan SXT||$1,152|
|Ford Fusion Sport AWD 4-Dr Sedan||$1,179|
|Hyundai Elantra SE 4-Dr Sedan||$1,192|
|Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD||$1,198|
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Above prices 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, claim-free, safe-driver, homeowner, and multi-policy. Price estimates do not factor in the specific area where the vehicle is garaged which can change premiums considerably.
Based on these rates, vehicles like the Honda CR-V, Jeep Wrangler, and Ford Escape are most likely to be some of the most economical vehicles to insure for realtors.
One of the many things that help determine the amount you pay for auto insurance is where you keep your vehicle in Colorado. Areas with more people or higher crime rates like Pueblo, Lakewood, and Commerce City tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.
The information below lists the most expensive places in Colorado for real estate agents to purchase auto insurance in.
|Rank||City||Premium Per Year|
|Compare Rates Now Go|
Prices are estimated as zip code location can change auto insurance rates considerably.
Discount Colorado insurance
Insurers that offer quotes for real estate agents may additionally offer special discounts that may potentially lower prices by as much as 30% if you meet specific criteria. Large car insurance companies and a partial list of their discounts are shown below.
- GEICO policyholders can earn discounts including federal employee, multi-policy, five-year accident-free, good student, multi-vehicle, anti-lock brakes, and anti-theft.
- SAFECO includes discounts for anti-lock brakes, multi-car, drive less, safe driver, homeowner, accident prevention training, and anti-theft.
- State Farm discounts include student away at school, safe vehicle, multiple autos, Drive Safe & Save, passive restraint, and driver's education.
- MetLife may include discounts for defensive driver, accident-free, good student, multi-policy, good driver, and claim-free.
- 21st Century has savings for driver training, automatic seat belts, anti-lock brakes, air bags, defensive driver, and good student.
- Progressive may have discounts that include continuous coverage, homeowner, good student, multi-vehicle, and multi-policy.
The example below compares car insurance rates with and without discounts. The information is based on a female driver, no claims or driving citations, Colorado state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with homeowner, vehicle safety, claim-free, anti-theft, safe-driver, and accident-free discounts applied. With discounts applied, the average amount saved each year on car insurance for real estate agents is 28% or $392.
Insurance rate increases from tickets or accidents
The best way to maintain good car insurance rates in Colorado for realtors is to be a cautious driver and avoid traffic citations and accidents. The diagram below highlights how speeding tickets and fender-benders can raise auto insurance costs for different ages of insureds. The costs are based on a married male driver, comp and collision included, $250 deductibles, and no discounts are applied.
In the previous chart, the average cost of car insurance in Colorado per year with no accidents or violations is $1,576. Get written up for two speeding tickets and the average cost surges to $2,175, an increase of $599 each year. Now include two accidents along with the two speeding tickets and the yearly cost of car insurance for real estate agents in Colorado increases to an average of $4,380. That's an increase of $2,804, or $234 per month, just for not being a responsible driver!
You may be paying too much for car insurance
Colorado car insurance rates are determined by lots of factors which can substantially decrease or increase your annual premium. Simply getting older, increasing deductibles, or getting a speeding ticket can trigger rate changes that can make some companies cheaper than others. In addition to those changes, car insurance companies change premium rates as needed to adjust for unexpected claims or profits. A period of higher than normal claims may result in additional premium costs, while less frequent claims may cause lower-cost Colorado car insurance rates.
To help illustrate this point, the data below shows the companies that have the cheapest car insurance in Colorado for a 40-year-old female driver with a good driving record, no prior claims, and excellent credit. If we estimate prices based on her current risk factors, The Hartford might quote the lowest car insurance rates in Colorado at $859 per year. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers are also on the list of the top five cheapest Colorado auto insurance companies.
Now let's give the driver from the above example a chargable accident, bad credit, and a couple of points charged on her driving record. Because every insurance company has their own guidelines to determing premium rates, comparing prices most likely will result in a substantially altered list of affordable companies as shown below.
Auto-Owners now has the cheapest auto insurance in Colorado with State Farm, American Family, Grange, and Progressive also having competitive pricing. This example shows why consumers need to take the time to perform an extensive rate comparison when trying to get the most budget-friendly car insurance quotes for real estate agents.
Prices can be determined by many things and change frequently, so the cheapest company the last time you shopped your coverage around may now cost much more than other companies.