The vehicle to be insured is a significant factor when shopping for low-priced car insurance for 17 year olds. Vehicles with average performance, good safety features, or low incidents of liability claims will cost significantly less to insure than higher performance models. The next table showcases car insurance rates for a handful of the most economical automobiles to buy insurance for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,508|
|Volkswagen Jetta S 2.5 Station Wagon||$3,775|
|Ford Escape Limited 4WD||$3,783|
|Dodge Grand Caravan SE||$3,935|
|Ford Explorer XLT 2WD||$3,941|
|Toyota Tacoma 2WD||$4,126|
|GMC Sierra SLE Crew Cab 2WD||$4,164|
|Chevrolet Impala LT||$4,173|
|Toyota RAV4 Sport 4WD||$4,164|
|Chevrolet Equinox LS 2WD||$4,171|
|Chevrolet Malibu LS||$4,164|
|Ford F-150 FX2 2WD||$4,200|
|Hyundai Elantra SE 4-Dr Sedan||$4,393|
|Ford Edge Limited AWD||$4,400|
|Toyota Corolla S||$4,393|
|Honda Odyssey EX-L W/Rear Entertainment||$4,402|
|Nissan Altima 2.5 S 4-Dr Sedan||$4,393|
|Jeep Grand Cherokee Limited 4WD||$4,429|
|Hyundai Sonata GLS 4-Dr Sedan||$4,500|
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Data rating is based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in garaging location in Colorado which can revise auto insurance rates considerably.
Based upon the rates shown, vehicles like the Honda CR-V, Volkswagen Jetta, Ford Escape, Toyota Prius, and Dodge Grand Caravan will be the more affordable vehicles to insure for teen drivers. Auto insurance rates will be higher anyway because there is more liability exposure for 17 year olds, but overall those vehicles will tend to have the lowest insurance prices that you are likely to find.
Locating cost effective auto insurance is confusing at best, and figuring out which companies quote the cheapest car insurance rates for 17 year olds in Colorado will involve even more work. Coverage rates could be much more than the average price in Colorado attributed to the potential for more claims that goes along with selling coverage for teen drivers, but affordable insurance should be obtainable if you compare enough companies. Every insurance provider has a unique formula for setting rates, so we'll take a look at the most competitive car insurance companies in Colorado.
It's important that readers know that Colorado car insurance rates are influenced by many factors that control the policy price. This is why consumers need to perform an extensive rate comparison when trying to find the most economical car insurance quotes for 17 year olds. Rates are impacted by many things and can increase or decrease at any time, so the cheapest company the last time you shopped around may now be priced much higher than other options.
Find Cheaper Car Insurance for Teens
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,640|
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The Hartford may offer some of the best car insurance rates in Colorado at around $834 a year. This is $744 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners also make the cut as some of the lowest-priced Colorado car insurance companies.
In the above example, if you currently buy coverage from USAA and switched to The Hartford, you might achieve an annual premium reduction of about $165. Policyholders with Nationwide may save as much as $275 a year, and Auto-Owners insureds might reduce prices by as much as $322 a year.
To find out how your current rates compare, click here to start a quote or feel free to get quotes from the companies below.
Be aware that those premiums are averaged for all insureds and vehicles and do not factor in a price increase for 17 year olds. So the company that can offer you the lowest price may not even be in the top 21 companies in the list above. That point stresses why you need to quote rates from many companies using your own specific driver and vehicle information.
One of the more important criteria that are used to help calculate the price you pay for insurance is your address. Areas with more people or even just a higher incidence of claims like Pueblo, Aurora, and Lakewood tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The illustration below rates the most expensive areas in Colorado for 17 year olds in which to purchase auto insurance.
|Rank||City||Average Per Year|
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Annual rates are estimated as the specific Colorado residence address can revise rates significantly.
Best car insurance company in Colorado
Choosing the top auto insurance company can be a challenge considering how many companies provide coverage in Colorado. The company ratings in the next section may help you select which coverage providers to look at putting your business with. The ratings below are only comprised of large insurance companies, so companies that have a smaller presence are not taken into consideration for these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The information below shows how different deductible levels can affect yearly insurance costs when searching for cheap insurance for 17 year olds in Colorado. The data is based on a single female driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 30-year-old driver could lower rates by $318 a year by switching from a $100 deductible up to a $500 deductible, or save $482 by switching to a $1,000 deductible. Young drivers, like the 20-year-old, have the ability to save up to $706 each year by choosing larger deductibles on their policy. When increasing deductibles, it will now be necessary to have plenty of savings on hand to allow you to cover the extra out-of-pocket expense, which deters some people from using high deductibles.
Chances are good that you're overpaying for Colorado car insurance
Colorado car insurance rates are determined by lots of factors which can substantially change the price of your policy. Improving your credit score, buying a home, or having an accident may prompt premium changes that can make some companies cheaper than others. Also, companies modify pricing as often as every three months in order to maintain liquidity for claims. Higher than usual claims can result in price increases, while a lower level of claims can result in cheaper Colorado car insurance rates.
For instance, the chart below shows rates for the cheapest car insurance in Colorado for a 30-year-old male driver with no prior claims, no tickets, and a decent credit rating. If we look at prices based on his current risk factors, The Hartford might quote the best car insurance rates in Colorado at $825 annually. This is $753 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are the remainder of the best Colorado auto insurance companies.
The next chart shows rates after we give the driver in the first chart an accident claim, a lower credit rating, and a couple of points charged on his driving record. Since each company has their own guidelines to set premium rates, comparing prices most likely will result in a slightly different list of affordable Colorado car insurance companies as shown below.
Travelers now has the cheapest car insurance in Colorado with State Farm, American Family, Progressive, and Amica also having competitive pricing. This example illustrates why it is critical to perform an extensive rate comparison when trying to get the most economical car insurance quotes for 17 year olds. Rates are made up of many things and can decrease or increase without notice, so the best price when you last compared rates may now be priced much higher than other options.
How to find budget-friendly car insurance for 17 year olds
The list below shows some thrifty ideas that can help Colorado drivers buy cheap car insurance.
- Too many claims can make car insurance unaffordable
- Do not get traffic tickets
- Full coverage may not be needed on older vehicles
- Buy your auto and home insurance from the same company and save
- Lower rates by purchasing a safer vehicle
- At-fault accidents can raise rates significantly
- Compare rates once a year for cheaper prices
The final tip is especially valuable, as we hit on in the prior information. Rates fluctuate constantly, so drivers shouldn't be reluctant to buy from a new company if a cheaper price is available.
Being loyal to a particular company is commendable, but it isn't a good idea if that stubbornness costs you a lot of money every month. Spend a few minutes and compare prices to find cheaper car insurance for 17 year olds.