Buying cheap car insurance for a Jeep Grand Cherokee in Colorado is dependent upon a very complex rating algorithm that uses multiple factors such as the safety rating for your Grand Cherokee, your geographic location, and driving violations and tickets. Drivers in Colorado will pay around $1,346 each year for Grand Cherokee insurance, but that amount is an estimate calculated using a 40-year-old single female driver with full comprehensive and collision coverage and $100 deductibles.
It's more than likely you are not 40 and maybe not even a female, you might be married instead of single, and maybe your Grand Cherokee just needs liability-only coverage. Not every driver requires the same auto insurance coverages, so the only real way to find affordable rates for your Jeep is to do a thorough rate comparison. Quotes are always free and you will be able to compare rates from top-rated car insurance companies that sell coverage in Colorado.
Your vehicle's trim level will likely have an effect on the cost of insurance, so the price you will pay to insure a Grand Cherokee Laredo 2WD model will be $148 cheaper than the price to insure the more expensive Grand Cherokee SRT-8 4WD trim level, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Grand Cherokee Laredo 2WD||$290||$616||$456||$28||$136||$1,526||$127|
|Grand Cherokee Laredo 4WD||$290||$616||$456||$28||$136||$1,526||$127|
|Grand Cherokee Limited 2WD||$328||$726||$456||$28||$136||$1,674||$140|
|Grand Cherokee Limited 4WD||$328||$726||$456||$28||$136||$1,674||$140|
|Grand Cherokee SRT-8 4WD||$328||$726||$456||$28||$136||$1,674||$140|
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Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Price information does not factor in specific zip code location which can lower or raise coverage rates noticeably.
Finding dependable, affordable car insurance is not the easiest thing to accomplish, and deciding which company offers the best insurance rates for a Jeep Grand Cherokee in Colorado involves even more diligence. Each insurance company uses a slightly different approach for establishing rates, so we'll go over the insurance companies that tend to be cheaper in Colorado.
Find the Cheapest Auto Insurance for Your Jeep
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,592|
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The Hartford generally has some of the best car insurance rates in Colorado at around $825 annually. Grange, USAA, GEICO, and Nationwide are also some of the cheapest Colorado insurance companies.
As depicted above, if you currently have a policy with Grange and switched to The Hartford, you might realize a yearly savings of upwards of $124. Customers with USAA may save as much as $174 a year, and GEICO insureds might cut rates by $316 a year.
Understand that those estimates are averages across all insureds and vehicles and are not factoring in a specific rate value for a Jeep Grand Cherokee. So the insurer that can offer you the lowest price may not even be in the top 21 companies shown above. That's why you need to compare prices as often as possible using your own driver data and vehicle information.
The illustration below highlights how deductible selection can impact yearly insurance costs when getting quotes for cheap insurance for a Jeep Grand Cherokee in Colorado. The premiums are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could cut expenses by $388 a year by increasing from a $100 deductible to a $500 deductible, or save $586 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old example, could reduce their rates up to $828 or even more by choosing larger deductibles on their policy. When choosing a higher deductible, it is essential to have additional funds squirreled away to be able to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Here's why price comparisons are so important
Colorado insurance rates are determined by lots of factors which can substantially decrease or increase the price you pay for coverage. Simply having another birthday, buying another vehicle, or getting a ticket for careless driving can produce rate changes that can make some companies more affordable than others. Not only may your risk profile change, but companies amend pricing as often as every quarter as an adjustment for underwriting gains or losses. Higher than usual claims may cause high rates, while less frequent claims may cause more affordable Grand Cherokee insurance rates.
To help illustrate this point, the chart below shows the company with the cheapest car insurance in Colorado for a 35-year-old female driver with a clear driving record, no claims, and solid credit. If we look at prices based on her current rating profile, The Hartford has the cheapest car insurance rates in Colorado at $850 each year. This is $728 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners round out the rest of the most affordable Colorado auto insurance companies.
Now we will pretend the driver from the first rate comparison a claim, a little lower credit rating, and an imperfect driving record. Because every insurance company uses their own formula to set premium rates, getting updated rate quotes will most likely result in a substantially altered list of cheap Colorado auto insurance companies as shown below.
Travelers now has the best car insurance rate in Colorado with State Farm, American Family, Progressive, and Amica also being competitive. This example shows why Colorado drivers need to compare many different companies when trying to find the most affordable insurance quotes for a Jeep Grand Cherokee.
Insurance prices consist of many risk factors and can increase or decrease at any time, so the best company a year ago may now be wasting a lot of money.