You've seen the captivating commercials from companies like Farmers and Liberty Mutual guaranteeing the cheapest price, so you just need to pick the company with the cutest commercial, right?
Unfortunately, it's just not that easy, as there are a ton of unknown aspects like if you need full coverage or liability-only, the deductible level you need, the area where you live, and if you currently have coverage, that all impact the cost of coverage. This article goes into detail about these topics and will hopefully give the reader a solid foundation to find cheaper car insurance for teens.
One of the many factors that aid in calculating auto insurance rates is where your car is garaged in Colorado. Cities with larger populations like Aurora, Denver, and Northglenn are more likely to have higher rates, whereas areas with less crime or weather claims benefit from having to pay less for coverage.
The information below lists the priciest cities in Colorado for 19 year olds to purchase auto insurance in.
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Information shown are approximated as the vehicle garaging location can decrease or increase premium rates considerably.
Locating low-cost car insurance is not most people's favorite thing to do, and finding out which insurers offer the best auto insurance rates for 19 year olds in Colorado involves more quotes for comparison. Coverage rates may be much more than the average policy in Colorado due to the potential for more claims that comes with selling insurance for teenage drivers, but affordable insurance may be available if you compare enough companies. Every car insurance company has a proprietary method for setting rates, so let's take a look at the overall cheapest auto insurance companies in Colorado.
Keep in mind that Colorado auto insurance rates are based on many factors that will increase or decrease the price you have to pay. This is why Colorado drivers need to shop around when trying to find the most budget-friendly auto insurance quotes for 19 year olds. Insurance prices are made up of many factors and can decrease or increase without notice, so the most economical company the last time you shopped around may now cost much more than other companies.
Best Insurance Companies for Teens
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,624|
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The Hartford normally has some of the lowest car insurance rates in Colorado at around $850 per year. Grange, USAA, Nationwide, and GEICO would also be considered some of the cheapest Colorado insurance companies.
As depicted above, if you currently have coverage with Grange and switched to The Hartford, you could realize savings of in the vicinity of $108. Insureds with USAA could save as much as $159 a year, and Nationwide customers might see rate reductions of $293 a year.
These prices are averaged across all types of drivers and the different vehicles they drive and and are not calculated with a rate surcharge for 19 year olds. So the auto insurance company that has the lowest price for you may not even be in the top 21 companies in the list above. That is why you need to compare as many prices as possible using your own individual information.
The make and model of vehicle you are seeking coverage for is probably the largest consideration when shopping for affordable auto insurance for 19 year olds. Vehicles with lots of horsepower, a lack of advanced safety features, or high incidents of liability claims will cost quite a bit more to insure than more modest models. The table below features insurance prices for a number of the cheaper automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,550|
|Honda CR-V EX-L 2WD||$2,581|
|Honda Accord EX-L 4-Dr Sedan||$2,760|
|Dodge Grand Caravan SE||$2,848|
|Toyota Tacoma 4WD||$2,857|
|Ford F-150 XLT Super Cab 4WD||$2,880|
|Ford Focus SE 4-Dr Sedan||$2,995|
|Chevrolet Equinox LS 2WD||$3,027|
|Toyota RAV4 Limited 2WD||$3,034|
|Volkswagen Jetta LE 4-Dr Sedan||$3,027|
|Jeep Grand Cherokee Laredo 2WD||$3,034|
|Ford Explorer Limited 4WD||$3,058|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$3,113|
|Hyundai Elantra Blue 4-Dr Sedan||$3,174|
|Toyota Camry XLE||$3,206|
|Chevrolet Impala LTZ||$3,215|
|Honda Odyssey EX-L W/Navigation||$3,206|
|Ford Edge Sport AWD||$3,211|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$3,237|
|GMC Sierra SLT Extended Cab 2WD||$3,243|
|Toyota Corolla XRS||$3,237|
|Chevrolet Malibu LTZ||$3,242|
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Data variables include single female driver age 19, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in zip code location which can impact rates noticeably.
Based upon these rates, we can expect cars like the Ford Escape, Honda CR-V, and Honda Accord will definitely be some of the more affordable vehicles to insure for teenage drivers. The price for car insurance will tend to be more expensive just due to the fact that there is more liability exposure for 19 year olds, but overall those particular models will probably have the best rates that you'll find.
The diagram below demonstrates how deductibles can affect insurance rates when trying to find cheap insurance for 19 year olds in Colorado. The data assumes a married female driver, comp and collision included, and no additional discounts are factored in.
The data above shows that a 40-year-old driver could lower their policy premium by $240 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $362 by using a $1,000 deductible. Youthful drivers, like the 20-year-old category, could roll back prices up to $594 or even more just by choosing higher deductibles when buying full coverage.
If you do decide to increase your deductibles, it will now be necessary to have enough in a savings account to satisfy the extra out-of-pocket expense associated with higher deductibles.
Get discounts on Colorado auto insurance
Insurance providers that offer cheap quotes for 19 year olds could also offer price discounts that could lower prices by 40% or more if you qualify. Popular auto insurance companies and a selection of discounts are outlined below.
- State Farm discounts include passive restraint, driver's education, safe vehicle, student away at school, good student, and Steer Clear safe driver discount.
- Farmers Insurance may have discounts that include teen driver, distant student, multi-car, switch companies, and electronic funds transfer.
- GEICO has savings for five-year accident-free, anti-theft, anti-lock brakes, daytime running lights, emergency military deployment, and federal employee.
- American Family has discounts for multi-vehicle, good student, bundled insurance, mySafetyValet, TimeAway discount, and good driver.
- Nationwide may offer discounts for easy pay, good student, multi-policy, family plan, and defensive driving.
- Progressive policyholders can earn discounts including multi-policy, continuous coverage, multi-vehicle, online quote discount, homeowner, online signing, and good student.
The chart below shows the difference between annual premium costs with and without policy discounts. The premium estimates are based on a female driver, no accidents or driving violations, Colorado state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with multiple vehicle, passive restraint, multiple policy, homeowner, claim-free, and vehicle safety discounts applied. When these discounts are applied to the policy premium, the the average amount saved on auto insurance for 19 year olds is 28% or $625.
How to find more affordable auto insurance for 19 year olds in Colorado
The list below summarizes some of the better penny-pinching suggestions that can help Colorado drivers find cheap coverage.
- Remain accident-free and save
- Buying home and auto together can help save money
- Frequent claims may make car insurance unaffordable
- Vehicles with good safety ratings have lower liability rates
- Be a safe driver
- Compare quotes from other companies often
That last piece of advice is notably critical, as was emphasized in this write-up. Rates can change considerably in a year, so don't be unwilling to buy a different policy if you can save money.
Sticking with a specific company is fine, but we do not recommend it if that stubbornness costs you money that could be used for better things. If you have a few minutes, now is a great time to compare prices and find cheaper car insurance for 19 year olds.