The words "bargain" and "insurance" really should not be used together, especially when comparison shopping for the lowest insurance prices for homeowners. Because it's not cheap, let's start the ball rolling by going over some of the things that have an impact on car insurance premiums, and find some ways to reduce the price of the next policy you buy.

For people who own their homes, one of the big things that are looked at to determine car insurance rates is the neighborhood you call home. Regions with larger populations or more claims like Denver, Aurora, and Northglenn likely pay more, whereas areas with less congestion have the gratification of cheaper auto insurance rates.

The next table sorts the priciest cities in Colorado for homeowners in which to purchase auto insurance.

Car insurance prices in Colorado
Rank City Average Per Year
1 Denver $1,425
2 Pueblo $1,412
3 Aurora $1,375
4 Lakewood $1,365
5 Northglenn $1,329
6 Commerce City $1,328
7 Ken Caryl $1,326
8 Security-Widefield $1,304
9 Brighton $1,285
10 Highlands Ranch $1,279
11 Colorado Springs $1,277
12 Westminster $1,272
13 Arvada $1,269
14 Thornton $1,268
15 Littleton $1,267
16 Centennial $1,265
17 Parker $1,257
18 Castle Rock $1,211
19 Broomfield $1,203
20 Longmont $1,168
21 Boulder $1,159
22 Greeley $1,156
23 Grand Junction $1,120
24 Loveland $1,107
25 Fort Collins $1,067
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Rates are estimated as the specific zip code location can lower or raise insurance rates considerably.

The make and model of vehicle requiring coverage is probably the most important factor when quoting cheaper car insurance for homeowners. Vehicles with average performance, an excellent safety record, or a low likelihood of having liability claims will cost significantly less to insure than fast, unsafe models.

The next table presents insurance premiums for a number of the cheaper vehicles to insure.

Cheapest Vehicles to Insure for Homeowners in Colorado
Vehicle Estimated Cost for Full Coverage
Honda CR-V LX 2WD $872
Toyota Prius $965
Ford Escape Limited 2WD $975
Nissan Altima 2.5 4-Dr Sedan $1,028
Hyundai Elantra SE Touring Station Wagon $1,036
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,047
Dodge Ram 3500 Crew Cab Laramie 2WD $1,056
Toyota Camry SE $1,085
Hyundai Sonata GLS 4-Dr Sedan $1,101
Jeep Grand Cherokee Limited 4WD $1,104
Chevrolet Equinox LS AWD $1,129
Ford Edge SE AWD $1,135
Ford F-350 XLT Crew Cab 2WD $1,143
Ford Explorer Limited 2WD $1,152
Chevrolet Silverado Crew Cab Hybrid 2WD $1,158
Toyota RAV4 4WD $1,162
GMC Sierra SLE Regular Cab 2WD $1,171
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Table data represents 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, homeowner, claim-free, multi-policy, and safe-driver. Information does not factor in specific location which can raise or lower auto insurance rates significantly.

Looking at the rates, you can see that vehicles like the Honda CR-V, Toyota Prius, Ford Escape, and Nissan Altima will definitely be some of the most economical vehicles to insure for people who own their homes.

Insurance rates are higher with tickets and accidents

The best way to find the most affordable insurance premiums for people who own their homes is to be an attentive driver and avoid accidents and violations. The diagram below highlights how speeding tickets and accident claims can raise car insurance rates for different age categories. The rates are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.

In the example above, the average cost of car insurance per year with a clean driving record and no accidents is $1,523. Get written up for one speeding ticket and the average cost rises to $1,726, an increase of $203 each year. Then throw in two accidents along with the one speeding ticket and the yearly cost of insurance for homeowners in Colorado goes up to an average of $3,591. That's an increase of $2,068, or $172 per month, just for not driving responsibly!

Insurance companies ranked

Insuring your vehicle with a highly-rated insurance provider can be rather challenging considering how many companies are available to choose from in Colorado. The company information shown below can help you pick which insurers to look at when comparing rate quotes. These ratings include companies who write in the majority of U.S. states, so companies that may only write in Colorado are not included in these rankings.

Colorado Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
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Data Source: Insure.com Best Car Insurance Companies

Compare quotes and save

Colorado insurance rates are based on many factors which can significantly increase or decrease the price you have to pay for coverage. Getting older, having a teenage driver, or having a fender bender can trigger rate changes resulting in some rates now being much cheaper than others.

In addition, insurance companies file new Colorado auto insurance rates as often as every three months to adjust for gains or losses. An unexpected high level of claims can result in increased policy costs, while a better loss history can produce cheaper Colorado car insurance rates.

To help illustrate this point, the chart below demonstrates which company has the cheapest car insurance in Colorado for a 30-year-old female driver with a clear driving record, no claims, and good credit. When quoting prices based on her personal risk profile, The Hartford might quote the most affordable car insurance rates in Colorado at $859 per year. This is $719 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the best Colorado auto insurance companies.

Now we will pretend the driver in the first chart a chargable claim, less-than-perfect credit, and an imperfect driving record. Since each insurance company has a unique approach for determining prices, analyzing rate quotes may now result in a completely different list of affordable Colorado car insurance companies as shown below.

Travelers now has the best insurance rate in Colorado with State Farm, American Family, Progressive, and Grange now rounding out the top five. This example illustrates why it is so important to spend some time comparing rates to get affordable auto insurance quotes for homeowners.

Auto insurance prices are calculated by many factors and can increase or decrease at any time, so the cheapest option when you bought your policy may now not even be in the top five.

Tips to find the cheapest insurance for homeowners

The list below summarizes a few thrifty solutions that can help you buy lower-cost car insurance.

The last tip in the list is certainly vital, as we emphasized in this piece. Prices charged by car insurance companies can change in a short period of time, so drivers shouldn't hesitate to buy a policy from a new company if a better rate can be found. Staying with the same car insurance company is fine, but we do not recommend it if that devotedness results in you overpaying hundreds every year. It takes less than five minutes to compare rates and find cheaper car insurance for homeowners.