One of the more important considerations that are used to help calculate the annual cost of car insurance is where you live. More densly populated places tend to pay more, whereas areas with less crime or weather claims get the luxury of paying less.
The following table shows the highest-priced places in Colorado to purchase car insurance in. Ken Caryl is listed at #12 with an annual cost of $1,287 on average, which is around $107 each month.
|Rank||City||Premium Per Year|
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Price information shown is approximated as the specific area where the vehicle is garaged can raise or lower coverage prices significantly.
Considering where Ken Caryl ranks for price, finding good, cheap auto insurance is tough enough, and finding out which company offers the most affordable car insurance rates in Ken Caryl may require even more perseverance. Every insurance provider uses their own formula to determine premium rates, so let's begin by examining the overall cheapest car insurance companies in Ken Caryl, CO.
Cheapest Insurance Rates in Ken Caryl
|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 Ken Caryl at around $834 each year. Grange, USAA, Nationwide, and GEICO would also be considered some of the more affordable Ken Caryl, CO car insurance companies.
As shown in the rates above, if you are a customer of Nationwide and switched to The Hartford, you might achieve an annual savings of roughly $309. Policyholders with GEICO could save as much as $342 a year, and Auto-Owners policyholders might reduce rates by $358 a year.
Understand that those policy prices are averages across all types of insureds and vehicles and do not factor in an exact location in Ken Caryl. So the insurer that fits your age and vehicle best may not even be in the top 21 companies in the list above. That emphasizes why you need to compare rates from multiple companies using your own personalized driver profile and vehicle information.
Why are you paying too much for Ken Caryl car insurance?
Colorado car insurance rates are determined by lots of factors which can substantially change the price of coverage. Simply turning a year older, buying a home, or getting a ticket for running a stop sign may prompt premium changes that can cause some rates to be cheaper than before. Not only that, but car insurance companies file new Colorado auto insurance rates as often as every quarter in order to protect their financial rating. A period of higher than normal claims may cause high rates, while lower claims can cause cheaper Ken Caryl car insurance rates.
To help illustrate this point, the bar chart below compares the cheapest car insurance in Ken Caryl, CO for a 40-year-old male driver with no prior accidents, a clean driving record, and a good credit history. If we estimate rates based on his personal risk profile, The Hartford offers the cheapest car insurance rates in Ken Caryl at $1,026 annually. This is $552 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners round out the rest of the top five cheapest Ken Caryl, CO auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison an accident surcharge, a lower credit rating, and a stop sign violation. Because each insurer uses their own method for determining prices, getting updated rate quotes will most likely result in a different ranking of the cheapest car insurance companies in Ken Caryl as shown below.
Travelers now has the best car insurance rate in Ken Caryl, CO with State Farm, American Family, Amica, and Progressive now being in the top five. This illustrates why it is important to do a thorough rate comparison to find the lowest car insurance quotes in Ken Caryl. Insurance prices are impacted by many risk factors and can change substantially, so the most economical company the last time you shopped around may now be priced much higher than other options.
The car, truck, or SUV you are insuring is a large consideration when comparing the most economical car insurance in Ken Caryl. Vehicles with more horsepower, poor safety features, or high incidents of liability claims will cost much more to insure than more modest models.
The data below features coverage premiums for a handful of the cheapest vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,219|
|Hyundai Elantra GLS Touring Station Wagon||$1,228|
|Honda Accord EX 4-Dr Sedan||$1,335|
|Ford Escape Limited 2WD||$1,410|
|Ford F-150 XL Super Cab 4WD||$1,490|
|Chevrolet Equinox LTZ AWD||$1,547|
|Ford Explorer XLT 2WD||$1,555|
|GMC Sierra SLE Extended Cab 4WD||$1,547|
|Ford Edge Limited 2WD||$1,554|
|Chevrolet Malibu Hybrid||$1,577|
|Toyota RAV4 Limited 4WD||$1,583|
|Toyota Camry LE||$1,577|
|Honda Civic GX 4-Dr Sedan||$1,596|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,599|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,609|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,616|
|Ford F-350 XL Super Cab 2WD||$1,639|
|Dodge Grand Caravan SXT||$1,659|
|Toyota Corolla S||$1,664|
|Chevrolet Impala LTZ||$1,669|
|Honda Odyssey EX-L W/Navigation||$1,664|
|Dodge Ram Quad Cab Laramie 2WD||$1,676|
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Prices do not factor in Ken Caryl, CO location which can decrease or increase premiums greatly.
Based upon the table data, you can figure that models like the Honda CR-V, Hyundai Elantra, Honda Accord, and Ford Escape are most likely to be some of the most budget-friendly vehicles to insure for drivers in Ken Caryl.
The illustration below highlights how deductible selection can impact insurance rates when searching for cheap insurance in Ken Caryl. The premiums are based on a single female driver, comp and collision included, and no policy discounts are applied.
As shown above, a 30-year-old driver could lower rates by $318 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $482 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old example, have the ability to save as much as $706 annually just by choosing larger deductibles.
When increasing deductibles, it will be important to have enough funds in savings to be able to pay the extra out-of-pocket expense associated with higher deductibles.
Price comparison of only insuring for liability
Reducing the cost of insurance is important to the majority of people, and one easy way to find cheaper insurance in Ken Caryl is to buy only liability coverage. The diagram below illustrates the difference between insurance costs with full coverage compared to only the Colorado minimum liability coverage. The data is based on no claims, a clean driving record, $500 deductibles, single status, and no discounts are applied.
If we average the cost for ages 20 through 70, physical damage coverage costs $1,656 per year more than just buying liability insurance. That is a significant amount which raises the question if it's a good idea to buy full coverage. There is no definitive guideline that works best for making the decision to drop full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let's pretend your vehicle's replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $6,000 after paying your policy deductible. If you are paying in excess of $600 annually for full coverage, then it might be time to buy liability only.
There are a few situations where dropping physical damage coverage is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not remove full coverage.
Accidents and violations increase rates
The recommended way to score cheap insurance premiums for drivers in Ken Caryl is to be a good driver and avoid at-fault accidents and violations. The example below demonstrates how speeding tickets and at-fault accidents impact insurance rates for each age group. The premiums are based on a single female driver, full coverage, $500 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of a car insurance policy per year with no accidents or violations is $1,578. Get written up for two speeding tickets and the average cost hikes up to $2,108, an increase of $530 each year. Now throw in two accidents along with the two speeding tickets and the yearly cost of insurance in Ken Caryl increases to an average of $4,180. That's an increase of $2,602, or $217 per month, just for not being more responsible behind the wheel!
How to find low-cost auto insurance in Ken Caryl
Below you'll find a few thrifty suggestions that can help Ken Caryl drivers locate cheap coverage.
- Avoid preventable accidents
- Drivers with good credit often pay less
- Bundle car and home insurance and save money
- Higher physical damage deductibles lower rates
- Pay for small claims rather than turning them in to your insurance company
- Do not get traffic tickets
- Shop around for cheaper prices often
The last idea is highly necessary, as was emphasized in this piece. Auto insurance prices can change significantly in a year, so drivers shouldn't hesitate to switch carriers if a better rate can be found.
Many consumers stick with the same company and that's fine, but we do not recommend it if that faithfulness ends up costing you money that could be used for better things. In just a few minutes you could shop around to find cheaper auto insurance in Ken Caryl.