Buying the cheapest coverage for a Honda CR-V in Colorado relies on many factors such as how long your commute is, your address, and blemishes on your driving record. Drivers pay on average $785 a year for CR-V insurance, but that figure is an estimate calculated using a 30-year-old married male driver with both comprehensive and collision coverage and $500 deductibles.
It's highly likely you aren't exactly 30 years old or even a male, you might be single instead of married, or maybe your CR-V doesn't need full coverage. Everone's needs are different, and this illustrates why the only real way to find the cheapest insurance price for your Honda is to just take the time to compare rates yourself. Quotes are free and easy and you will receive price comparisons from the cheapest companies that insure Honda vehicles in Colorado.
Your Honda's trim level tends to have a direct effect on the insurance rate, so the rate you pay to insure a CR-V LX 2WD model will be $28 lower than the price to insure the more well-appointed CR-V EX-L 4WD version, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$192||$304||$298||$18||$90||$902||$75|
|CR-V EX 2WD||$192||$304||$298||$18||$90||$902||$75|
|CR-V LX 4WD||$192||$304||$298||$18||$90||$902||$75|
|CR-V EX 4WD||$220||$304||$298||$18||$90||$930||$78|
|CR-V EX-L 2WD||$220||$304||$298||$18||$90||$930||$78|
|CR-V EX-L 4WD||$220||$304||$298||$18||$90||$930||$78|
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Price estimates do not factor in the specific area where the vehicle is garaged which can increase or decrease rates greatly.
Figuring out which insurers offer the cheapest car insurance rates for a Honda CR-V in Colorado calls for a little more effort than just getting one or two price quotes. Each auto insurer uses a slightly different approach for determining prices, so we need to take a look at the car insurance companies that tend to be cheaper in Colorado.
It's a good idea to know that Colorado car insurance rates are influenced by many factors that will increase or decrease the price you have to pay for coverage. Improving your credit score, buying a different home, or getting a driving violation can trigger price changes that may make certain companies cheaper than others.
Compare Cheap Insurance Quotes for Your Honda
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,592|
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The Hartford normally has some of the most affordable car insurance rates in Colorado at around $850 each year. Grange, USAA, Nationwide, and Travelers also rank well as some of the most economical Colorado insurance companies.
As shown in the table above, if you currently buy coverage from USAA and switched to The Hartford, you may realize an annual savings of upwards of $159. Drivers with Nationwide may save as much as $305 a year, and Travelers insureds might lower prices by $321 a year.
To find out how much you can save, click here to get quotes or click through to the companies below.
These estimates are averaged for all types of insureds and vehicles and and are not figured with a specific rate value for a Honda CR-V. So the auto insurance company that fits your age and vehicle best may not even be in the top 21 companies shown above. That points out the importance of why you need to quote rates from many companies using your own specific driver and vehicle information.
Types of discounts on Colorado auto insurance
Insurance companies that offer cheap quotes for a Honda CR-V may also provide special discounts that could lower prices by 40% or more if you are eligible to receive them. A list of car insurance companies and some of the premium reductions they offer are outlined below.
- The Hartford policyholders can earn discounts including bundle, driver training, air bag, vehicle fuel type, defensive driver, anti-theft, and good student.
- American Family offers premium reductions for early bird, mySafetyValet, accident-free, good student, good driver, and TimeAway discount.
- Progressive may include discounts for good student, online quote discount, multi-vehicle, continuous coverage, online signing, and homeowner.
- Travelers discounts include new car, driver training, home ownership, multi-policy, and student away at school.
- Farmers Insurance offers discounts including teen driver, alternative fuel, mature driver, youthful driver, and bundle discounts.
- USAA offers discounts for multi-policy, annual mileage, new vehicle, good student, driver training, defensive driver, and family discount.
- Liberty Mutual includes discounts for good student, multi-policy, multi-car, hybrid vehicle, and preferred payment discount.
The information below visualizes the comparison of car insurance rates with and without discounts applied to the premium. The costs are based on a female driver, no claims or violations, Colorado state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with anti-theft, claim-free, safe-driver, vehicle safety, marriage, and passive restraint discounts applied. When drivers qualify for the discounts, the average savings per year on car insurance for a Honda CR-V is 28% or $484.
Liability only or full coverage
Buying cheaper car insurance is probably important to the majority of people, and one way to buy cheap insurance for a Honda CR-V in Colorado is to not buy full coverage. The illustration below compares annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The premiums are based on no claims or driving violations, $100 deductibles, marital status is single, and no discounts are factored in.
As an overall average, full coverage on your policy costs $2,061 per year more than carrying just liability coverage. Many drivers will wonder when is it a good idea to stop buying full coverage. There is no exact formula for excluding physical damage coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
Drive safe and save
The recommended way to snag the most affordable car insurance prices in Colorado for a CR-V is to drive carefully and avoid tickets and accidents. The example below demonstrates how speeding tickets and at-fault collisions drive up car insurance costs for each different age group. The rates are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
In the previous chart, the average cost of an auto insurance policy per year with no accidents or violations is $1,476. Factor in two speeding tickets and the average cost jumps to $1,940, an increase of $464 each year. Now include two accidents along with the two speeding tickets and the 12-month cost of car insurance for a Honda CR-V in Colorado goes up to an average of $3,888. That's an increase of $2,412, or $201 per month, just for not driving attentively!