Finding cheaper car insurance for a Toyota Tacoma in Colorado hinges on a complicated formula that considers factors such as your birth date, if you are a frequent claim filer, and driving citations. Drivers in Colorado pay on average $1,329 annually to insure their Tacoma, but that price is a valuation calculated based on a 30-year-old single female driver with full comprehensive and collision coverage and $250 deductibles.
When projecting a rate like this, the problem is that you're not a 30-year-old female, maybe you are married instead of single, and maybe your Tacoma is older and does not require full coverage. There is no perfect policy for every driver, so the best method for finding the cheapest rates for your Toyota is to do the rate comparisons yourself. Quotes are free and easy and you will be able to see rates from top-rated companies that insure Toyota vehicles in Colorado.
Vehicle trim level tends to impact the insurance rate, so the price to insure a Tacoma 2WD trim level will be $78 less than the price to insure the more costly Tacoma Double Cab TRD Sport Package 4WD version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$302||$562||$474||$28||$142||$1,508||$126|
|Tacoma X-Runner 2WD||$302||$662||$474||$28||$142||$1,608||$134|
|Tacoma Double Cab 4WD||$340||$562||$474||$28||$142||$1,546||$129|
|Tacoma Double Cab TRD Off-Road Package 4WD||$340||$562||$474||$28||$142||$1,546||$129|
|Tacoma Double Cab TRD Sport Package 4WD||$340||$562||$474||$28||$142||$1,546||$129|
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price information does not factor in Colorado location which can affect rates noticeably.
Deciphering which insurers offer the best auto insurance rates for a Toyota Tacoma in Colorado takes more time in order to find the best policy. Every auto insurer has their own unique process to determine premium rates, so let's take a look at the auto insurance companies with the overall best prices in Colorado.
Compare Cheap Insurance Quotes for Your Tacoma
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,592|
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The Hartford generally has some of the cheapest car insurance rates in Colorado at around $859 annually. This is $719 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers also qualify as some of the most economical Colorado insurance companies.
As the rates illustrate above, if you have coverage with USAA and switched to The Hartford, you might see savings of about $140. Drivers with Nationwide may save as much as $284 a year, and Travelers insureds might see rate reductions of $324 a year.
To get a quick, customized rate comparison, click here or click through to the companies below.
These prices are averages for all drivers and vehicles in Colorado and are not factoring in a specific rate value for a Toyota Tacoma. So the auto insurance company that is best suited for you may not even be in the top 21 companies in the list above. That helps illustrate why you need to get rate quotes from many companies using your own driver data and vehicle information.
Types of discounts on Colorado auto insurance
Insurance providers that offer cheap quotes for a Toyota Tacoma may also give you premium discounts that can reduce rates by as much as 25% or more if you qualify for them. Large auto insurance companies and their possible discounts are detailed below.
- Esurance has savings for DriveSense, anti-theft, Switch & Save, multi-policy, safety device, homeowner, and Pac-12 alumni.
- The Hartford discounts include driver training, defensive driver, anti-theft, good student, and vehicle fuel type.
- AAA includes discounts for education and occupation, pay-in-full, multi-car, anti-theft, AAA membership discount, and good driver.
- GEICO offers premium reductions for five-year accident-free, membership and employees, emergency military deployment, multi-policy, daytime running lights, air bags, and military active duty.
- State Farm may have discounts that include student away at school, driver's education, Steer Clear safe driver discount, Drive Safe & Save, and multiple policy.
The chart below illustrates the difference between insurance premiums with and without discounts applied to the policy rates. Data assumes a male driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with anti-theft, defensive driving course, marriage, multiple vehicle, safe-driver, and homeowner discounts applied. When discounts are applied, the average amount saved each year on auto insurance for a Toyota Tacoma is 28% or $712.
Why you should shop around for Tacoma insurance
Colorado auto insurance rates are calculated based on many things that control the cost of a policy. Turning one year older, having a teenage driver, or getting a few speeding tickets can trigger changes in premium resulting in some companies being cheaper than competitors.
Also, car insurance companies amend premium rates multiple times each year to adjust for gains or losses. Unexpectedly high claims may cause higher prices, while a lower level of claims can result in cheaper Tacoma insurance rates.
The graph below demonstrates which company has the cheapest car insurance in Colorado for a 45-year-old female driver with no prior claims, no tickets, and a decent credit rating. If we estimate prices based on her current risk factors, The Hartford may offer the best car insurance rates in Colorado at $834 a year. This is $744 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the cheapest Colorado auto insurance companies.
Now we will pretend the driver from the first set of rates some claims, less-than-perfect credit, and a speeding citation. Due to the fact that every insurance company has a proprietary method to determing premium rates, comparing insurance quotes most likely will result in a significantly different list of companies as shown below.
Travelers now has the cheapest auto insurance in Colorado with State Farm, American Family, Amica, and Progressive completing the list. This illustrates why Colorado drivers need to perform a complete rate comparison when trying to find cheap auto insurance rates for a Toyota Tacoma.
Auto insurance prices are calculated by many factors and can increase or decrease at any time, so the best company a year ago may now be one of the higher cost companies.