You have probably watched the commercials from car insurance companies like Farmers and Nationwide that guarantee dirt cheap rates. So you should just choose any of them, right?
It's just not that simple, as there are a ton of unknowns such as whether or not you own a home, your credit history, if you want full coverage included, and any driving violations you may have, that all influence how much you pay for auto insurance. This article will detail the best ways to avoid high prices and should give you a good beginning to your search for cheaper coverage.
Trying to buy low-priced car insurance is confusing at best, and figuring out which company quotes the cheapest insurance rates for safe drivers in Colorado will involve even more diligence. Rates could be moderately cheaper than the average policy in Colorado, with the decrease attributed to the lower risk that goes along with selling insurance for good drivers. Budget-friendly insurance should be available from a lot of different insurance providers. Each insurer has their own formula to set premium rates, so let's take a look at the most affordable insurance companies in Colorado.
We do need to point out that Colorado insurance rates are impacted by many factors which can substantially change the cost of having a policy. Simply getting older, moving to a new city, or getting a driving violation can produce rate changes resulting in some rates now being more affordable than competitors.
Lowest Insurance Price Quotes for Safe Drivers
The Hartford offers some of the most affordable car insurance rates in Colorado at around $834 a year. Grange, USAA, Nationwide, and Auto-Owners would also be considered some of the more affordable Colorado auto insurance companies.
As depicted above, if you are a policyholder with Nationwide and switched to Grange, you may see annual savings of roughly $131. Policyholders with Auto-Owners may save as much as $178 a year, and GEICO insureds might lower prices by $198 a year.
It's important to note that these prices are averages for all ages of drivers and types of vehicles and do not factor in a price decrease for safe drivers. So the company that can offer you the best price may not even be in the top 21 companies shown above. That points out the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.
The type of vehicle that needs insurance is probably the biggest factor when consumers are trying to find low-cost insurance for safe drivers. Vehicles with limited top-end speed, advanced safety features, or a low likelihood of having liability claims will cost much less to insure than higher performance models.
The next list illustrates car insurance prices for a selection of the cheaper automobiles to insure in Colorado.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$872|
|Honda Accord LX 4-Dr Sedan||$881|
|Dodge Grand Caravan CV||$973|
|Hyundai Elantra GLS Touring Station Wagon||$984|
|Honda Odyssey EX||$1,009|
|Honda CR-V EX-L 2WD||$1,011|
|Toyota RAV4 Sport 2WD||$1,028|
|Ford Explorer Eddie Bauer 4WD||$1,047|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,052|
|Ford F-150 XLT Super Cab 2WD||$1,068|
|Toyota Corolla S||$1,085|
|Jeep Grand Cherokee Limited 4WD||$1,104|
|Dodge Ram Crew Cab ST 4WD||$1,120|
|Chevrolet Impala LT||$1,129|
|Chevrolet Malibu Hybrid||$1,138|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,143|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,152|
|Hyundai Sonata SE 4-Dr Sedan||$1,158|
|Volkswagen Jetta LE 4-Dr Sedan||$1,162|
|Find Cheaper Rates Go|
Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate quotes do not factor in specific zip code location which can raise or lower premium rates greatly.
Based on these rates, we can conclude that models like the Ford Escape, Honda Accord, and Toyota Prius will be some of the cheaper vehicles to insure for good drivers.
The diagram below illustrates how your choice of deductibles can influence insurance costs when quoting cheap insurance for safe drivers in Colorado. Data assumes a single male driver, full coverage, and no discounts are applied to the premium.
As shown above, a 40-year-old driver could pocket $402 a year by switching from a $100 deductible to a $500 deductible, or save $606 by choosing a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could shave up to $1,332 every year by choosing a higher deductible. When insureds make the decision to increase the deductibles on their policy, it will be required to have additional funds squirreled away to enable you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
How to get discounts on Colorado auto insurance
Car insurance companies that offer coverage for safe drivers may also offer special discounts that may potentially lower prices by 40% or more if you meet the requirements. The best insurance companies and a selection of discounts include:
- GEICO offers discounts including federal employee, membership and employees, daytime running lights, driver training, multi-policy, air bags, and defensive driver.
- MetLife may have discounts that include accident-free, good driver, multi-policy, good student, and claim-free.
- State Farm offers premium reductions for driver's education, good student, multiple autos, multiple policy, Drive Safe & Save, accident-free, and passive restraint.
- Progressive may offer discounts for online signing, multi-policy, good student, homeowner, online quote discount, and multi-vehicle.
- Mercury Insurance may include discounts for good driver, annual mileage, multi-car, accident-free, and multi-policy.
- 21st Century offers discounts for good student, 55 and older, defensive driver, anti-lock brakes, teen driver, air bags, and automatic seat belts.
- Allstate has discounts for premier plus, early signing, FullPay discount, good payer, senior citizen, resident student, and economy car.
The chart below shows the difference between car insurance costs with and without discounts applied. Data assumes a male driver, no claims, a clean driving record, Colorado state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with passive restraint, claim-free, homeowner, vehicle safety, multiple policy, and accident-free discounts applied. When these discounts are applied to the policy premium, the the amount saved on insurance for safe drivers is 28% or $687.
Best insurance in Colorado
Finding the top auto insurance company is hard considering how many companies provide coverage in Colorado. The company ratings in the next section could help you choose which providers you want to consider when comparing auto insurance rates for safe drivers.
These ratings are only made up of the companies with a significant amount of written premium nationwide, so companies that have a smaller presence are not factored into the list. To compare rates from the insurers below and more, just click here.
Top 10 Major Auto Insurers in Colorado Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
- The General
Top 10 Major Auto Insurers 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%