Finding low-cost auto insurance is not the easiest thing to accomplish, and determining which insurers offer the best insurance rates for retired military in Colorado will require even more rate comparisons.
Every car insurance company has a different formula for setting rates, so first we will examine the overall cheapest insurance companies in Colorado. It's important that you understand Colorado insurance rates are determined by lots of factors which can substantially decrease or increase the price of coverage. Improving your credit rating, buying another vehicle, or having a fender bender can trigger price changes that can make some companies more affordable than competitors.
Best Auto Insurance Prices for Vets
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,592|
|Quote Your Rates Go|
The Hartford normally has some of the best car insurance rates in Colorado at around $825 per year. Grange, USAA, Nationwide, and Travelers also make the cut as some of the cheapest Colorado car insurance companies.
As the example above demonstrates, if you are insured with Nationwide and switched to The Hartford, you might achieve a yearly price reduction of in the vicinity of $296. Insureds with Travelers might save as much as $346 a year, and GEICO insureds might realize rate reductions of up to $362 a year.
These policy prices are averaged across all insureds and vehicles and and are not calculated with a price decrease for retired military. So the car insurance company that can offer you the best price may not even be in the list above. That is why you need to get rate quotes from many companies using your own specific driver and vehicle information.
One of the more important criteria that aid in calculating the amount you pay for auto insurance is where you choose to live in Colorado. Larger areas like Denver, Pueblo, and Ken Caryl tend to pay more, whereas areas with less congestion benefit from lower rates.
The table below rates the most expensive places in Colorado for retired military in which to purchase auto insurance.
|Rank||City||Premium Per Year|
|Find Cheaper Insurance Go|
Rate information is approximated as zip code location can increase or decrease rates significantly.
The information below illustrates how your choice of deductibles can change insurance rates when getting quotes for cheap insurance for retired military in Colorado. The costs are based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.
A 50-year-old driver could lower their policy premium by $280 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $422 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could roll back prices up to $706 annually just by choosing higher deductibles.
If you do raise deductibles, it will be required to have emergency funds available to enable you to pay the extra out-of-pocket expense associated with higher deductibles.
Get discount Colorado auto insurance rates
Auto insurance companies that provide coverage for retired military could also offer discounts that could reduce prices by as much as 40% or more if you are eligible to receive them. Large insurance companies and their possible discounts can be found below.
- 21st Century has discounts for driver training, anti-lock brakes, automatic seat belts, defensive driver, early bird, theft prevention, and air bags.
- Progressive discounts include multi-vehicle, homeowner, continuous coverage, online quote discount, good student, online signing, and multi-policy.
- State Farm has savings for good driver, driver's education, student away at school, anti-theft, and Steer Clear safe driver discount.
- Nationwide may offer discounts for multi-policy, business or organization, good student, anti-theft, and easy pay.
- Esurance offers discounts including anti-theft, homeowner, defensive driver, online shopper, anti-lock brakes, paid-in-full, and multi-car.
- The Hartford includes discounts for air bag, vehicle fuel type, driver training, defensive driver, and anti-theft.
The information below illustrates the difference between auto insurance costs with and without discounts applied. The premiums are based on a female driver, no accidents, no driving violations, Colorado state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with homeowner, claim-free, vehicle safety, multiple policy, safe-driver, and anti-theft discounts applied. With discounts applied, the the average amount saved on insurance for retired military is 28% or $722.
Which insurance company is best in Colorado?
Ending up with the right car insurance provider is hard considering how many companies there are to choose from in Colorado. The company information in the lists below could help you pick which car insurance providers to look at comparing rates from. These rankings are only made up of the largest auto insurers in America, so companies that focus mainly on Colorado business are not taken into consideration for these rankings.
Top 10 Large Auto Insurance Companies Overall in Colorado
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
Top 10 Large Auto Insurance Companies in Colorado Ranked by Customer Satisfaction
- Titan Insurance - 95%
- USAA - 94%
- AAA Insurance - 91%
- Nationwide - 90%
- State Farm - 90%
- The Hartford - 89%
- GEICO - 89%
- Allstate - 88%
- 21st Century - 88%
- The General - 88%
Why are you paying too much for Colorado car insurance?
Colorado insurance rates are based on many factors which can significantly increase or decrease the cost of a policy. Simply getting older, becoming a homeowner, or having an at-fault accident can produce rate changes that can make some companies more affordable than competitors.
In addition, insurance companies file new Colorado car insurance rates without warning to ensure their profitability. An extended period of higher than normal claims may cause a rate increase, while less frequent claims can produce lower-cost Colorado car insurance rates.
As an example, the data below shows which companies have the cheapest car insurance in Colorado for a 40-year-old female driver with a clear driving record, no claims, and a good credit history. If we look at prices based on her personal profile, The Hartford may have the cheapest car insurance rates in Colorado at $850 annually. This is $728 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are the rest of the cheapest Colorado auto insurance companies.
Now we will give the driver from the first rate comparison an accident claim, a lower credit rating, and a few blemishes on her driving record. Because every insurance company has their own formula to determing premium rates, comparing quotes could now result in a significantly different list of the cheapest Colorado car insurance companies as shown below.
Travelers now has the best price in Colorado with State Farm, American Family, Progressive, and Amica completing the list. This illustrates why it is important to compare lots of rates to find the best car insurance rates for retired military.
Insurance rates are calculated by many factors and change frequently, so the most economical option the last time you shopped your coverage around may now cost much more than other companies.