For drivers in Broomfield, one of the largest components that aid in calculating the price you pay for insurance is where you live. Cities with larger populations or higher claim trends tend to pay more, whereas areas with less crime or weather claims have the luxury of cheap car insurance rates.
The next table ranks the highest-priced areas in Colorado to buy car insurance in. Broomfield is listed at #18 having an annual price of $1,215 for coverage, which is around $101 per month.
|Rank||City||Premium Per Year|
|Find Cheaper Rates Go|
Information shown are comparative as the specific zip code location can change premium rates greatly.
Seeing where Broomfield ranks on price, shopping around for affordable insurance is confusing at best, and finding out which companies have the cheapest insurance rates in Broomfield involves even more perseverance.
Every auto insurer has a proprietary method for setting prices, so we'll go over the insurance companies with the most affordable rates in Broomfield, CO.
Best Car Insurance Prices in Broomfield
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,640|
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The Hartford may offer some of the most affordable car insurance rates in Broomfield at around $834 annually. This is $744 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers are also some of the cheaper Broomfield, CO car insurance companies.
In the rate table above, if you are a policyholder with Nationwide and switched to The Hartford, you could realize a yearly savings of in the vicinity of $275. Colorado drivers with Travelers might save as much as $337 a year, and GEICO customers might cut rates by $353 a year.
Be aware that those premium estimates are averaged for all types of insureds and vehicles and do not factor in a specific location in Broomfield. So the auto insurance company that can offer you the best rate may not even be in the top 21 companies in the list above. That is why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
The car, truck, or SUV requiring coverage is one of the biggest factors that determines whether or not you can buy the best cheap car insurance in Broomfield. Vehicles with reasonable performance levels, an excellent safety record, or a track record of few liability claims will cost significantly less to insure than higher performance models.
The next list features auto insurance prices for some of the most budget-friendly vehicles to insure in Colorado.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape Limited 2WD||$1,085|
|Honda CR-V EX-L 2WD||$1,092|
|Hyundai Elantra GLS Touring Station Wagon||$1,094|
|Ford Edge Limited 2WD||$1,122|
|Toyota Camry LE||$1,145|
|Chevrolet Silverado LS Regular Cab 4WD||$1,160|
|Ford F-150 XL Super Cab 4WD||$1,185|
|Chevrolet Malibu LTZ||$1,229|
|Nissan Rogue S AWD||$1,238|
|Hyundai Sonata GLS 4-Dr Sedan||$1,229|
|Dodge Grand Caravan SE||$1,233|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,239|
|Volkswagen Jetta 2.0T Station Wagon||$1,249|
|GMC Sierra SLE Crew Cab 2WD||$1,256|
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Premium amounts do not factor in Broomfield, CO location which can alter insurance rates significantly.
Based on these rates, you can expect cars like the Ford Escape, Honda CR-V, Hyundai Elantra, Ford Edge, and Toyota Camry should be some of the more affordable vehicles to insure for drivers in Broomfield.
Get discounts on Broomfield auto insurance rates
Insurance providers that sell policies in Broomfield may additionally offer rate discounts that could reduce prices by as much as 30% if you can meet the requirements. The best car insurance companies and some of the discounts are included below.
- Farm Bureau includes discounts for renewal discount, good student, driver training, multi-policy, multi-vehicle, youthful driver, and 55 and retired.
- MetLife may include discounts for multi-policy, good driver, good student, accident-free, claim-free, and defensive driver.
- Progressive may have discounts that include good student, multi-policy, online signing, homeowner, online quote discount, and continuous coverage.
- AAA has discounts for good driver, multi-policy, pay-in-full, education and occupation, good student, and multi-car.
- American Family discounts include defensive driver, early bird, TimeAway discount, accident-free, and air bags.
- GEICO has savings for good student, daytime running lights, multi-policy, defensive driver, anti-lock brakes, and federal employee.
- State Farm offers discounts including multiple policy, defensive driving training, student away at school, multiple autos, and accident-free.
The diagram below illustrates the difference between insurance costs with and without discounts applied to the policy premium. The data assumes a male driver, no accidents or driving violations, Colorado state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with passive restraint, defensive driving course, homeowner, claim-free, safe-driver, and multiple vehicle discounts applied. When taking advantage of discounts, the average amount saved each year on car insurance in Broomfield is 28% or $444.
Your cheap policy may actually be overpriced
Broomfield car insurance rates are influenced by many factors which can substantially change the price of your policy. Simply having a birthday, becoming a homeowner, or having an at-fault accident can trigger rate changes that can now make some companies much cheaper than others. In addition to those changes, auto insurance companies change their prices as often as every quarter as an adjustment for underwriting gains or losses. Higher than normal claim frequency or severity can result in increased policy costs, while better underwriting can result in cheaper Broomfield car insurance rates.
To illustrate this point, the chart below shows the company with the cheapest car insurance in Broomfield, CO for a 40-year-old male driver with no violations or accidents, and a decent credit rating. If we estimate prices based on his current situation, The Hartford offers the cheapest car insurance rates in Broomfield at $943 annually. This is $635 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the cheapest Broomfield, CO auto insurance companies.
The chart below compares rates after we give the driver from the above example a claim surcharge, less-than-perfect credit, and a speeding citation. Due to the fact that each insurance company has a unique approach to set policy rates, getting updated rate quotes may now result in a new list of affordable companies as shown below.
Travelers now has the cheapest auto insurance in Broomfield with State Farm, American Family, Grange, and USAA now being in the top five. This demonstrates why drivers need to shop around with many companies when trying to get the best auto insurance rates in Broomfield.
Insurance prices can be altered by many different factors and can increase or decrease at any time, so the most affordable company six months ago may now be an over-priced policy.
How to find low-cost insurance in Broomfield
Here are many money-saving ideas that can help Colorado drivers quote more affordable car insurance.
- Vehicles with good safety ratings have lower liability rates
- Tickets and violations raise rates
- Do not get into accidents
- Good credit scores may lower your rates
- Increase your physical damage deductibles
- Shop around for lower rates once a year
That last tip is remarkably vital, as we stressed in the prior information. Prices change a lot, so drivers shouldn't be resistant to change to a new company if a cheaper rate is available.
Many consumers stick with the same company and that's fine, but it's not recommended if that inflexibility results in costing you hundreds of dollars year after year. It takes less than five minutes to compare prices and find cheaper auto insurance in Broomfield.