For foreigners, one of the largest factors that are used to help calculate auto insurance rates is where your residence is in Colorado. Areas with increased crime or more people like Denver, Pueblo, and Commerce City are more likely to have higher rates, whereas less populated areas benefit from lower rates.
The table below rates the highest-priced places in Colorado for immigrants in which to purchase auto insurance.
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Rates are estimated as the specific garaging location can modify insurance rates considerably.
The vehicle driven is one of the primary factors when comparing cheaper insurance for immigrants. Vehicles with limited top-end speed, an excellent safety record, or a track record of few liability claims will cost less to insure than high performance models. The next table features coverage premiums for the most budget-friendly vehicles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$860|
|Honda CR-V EX 2WD||$866|
|Dodge Grand Caravan SXT||$1,032|
|Toyota Tacoma Double Cab 4WD||$1,042|
|Ford F-150 STX Super Cab 2WD||$1,080|
|Jeep Grand Cherokee Limited 4WD||$1,085|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$1,094|
|Volkswagen Jetta SE 4-Dr Sedan||$1,085|
|Nissan Rogue SL 2WD||$1,087|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$1,106|
|GMC Sierra 3500HD SLE Regular Cab 2WD||$1,116|
|Ford Focus SES 2-Dr Coupe||$1,139|
|Ford Escape Limited 4WD||$1,143|
|Honda Accord EX-L 4-Dr Sedan||$1,152|
|Ford Fusion Sport AWD 4-Dr Sedan||$1,158|
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Table data does not factor in Colorado location which can raise or lower coverage prices substantially.
Based upon these rates, you can presume that models like the Hyundai Elantra, Honda CR-V, Dodge Grand Caravan, and Toyota Tacoma will be the less-costly vehicles to insure for foreigners.
Deciphering which companies offer the best car insurance rates for immigrants in Colorado takes a tad more effort thank just comparing rates from one or two companies. Each auto insurance company has a different formula for determining prices, so to begin we'll rank the overall cheapest car insurance companies in Colorado.
Cheap Insurance Rates for Migrants
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,592|
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The Hartford generally has some of the cheapest car insurance rates in Colorado at around $850 annually. Grange, USAA, Nationwide, and GEICO also make the cut as some of the cheaper Colorado auto insurance companies.
In the rate table above, if you have coverage with USAA and switched to The Hartford, you may see yearly savings of about $159. Insureds with Nationwide may save as much as $259 a year, and GEICO customers might see rate reductions of $302 a year.
Bear in mind that those rates are averaged for all insureds and vehicles and and are not calculated with a price discount for immigrants. So the auto insurance company that is best for you may not even be in the top 21 companies in the list above. That affirms the importance of why you need to compare prices as often as possible using your own driver information and specific vehicle type.
The example below illustrates how your choice of deductibles can influence insurance premiums when researching cheap insurance for immigrants in Colorado. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
As shown above, a 40-year-old driver could cut expenses by $324 a year by changing from a $100 deductible up to a $500 deductible, or save $488 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could possibly save as much as $802 or more by choosing a higher deductible. When raising deductibles, it will be required to have plenty of savings on hand to enable you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Get discounts on Colorado insurance
Auto insurance companies that sell policies for immigrants may also give you price discounts that could lower prices by as much as 30% if you meet specific eligibility requirements. A few popular companies and the discounts they provide include:
- State Farm may include discounts for passive restraint, good driver, safe vehicle, driver's education, and multiple policy.
- American Family offers discounts including multi-vehicle, good student, bundled insurance, mySafetyValet, Steer into Savings, and accident-free.
- GEICO includes discounts for anti-theft, daytime running lights, defensive driver, multi-vehicle, good student, membership and employees, and five-year accident-free.
- 21st Century offers discounts for air bags, good student, driver training, early bird, teen driver, and automatic seat belts.
- Progressive may offer discounts for good student, homeowner, online signing, multi-policy, online quote discount, multi-vehicle, and continuous coverage.
The illustration below illustrates the difference between auto insurance rates with and without discounts. The price estimates are based on a female driver, no accidents, no driving violations, Colorado state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with accident-free, multiple policy, defensive driving course, safe-driver, marriage, and vehicle safety discounts applied. With discounts applied, the average amount saved each year on car insurance for immigrants is 28% or $662.
Drive responsibly or pay higher rates
The easiest method to snag low car insurance premiums in Colorado for foreigners is to be a careful driver and avoid traffic citations and accidents. The diagram below demonstrates how traffic citations and fender-benders can influence car insurance rates for different categories of driver ages. The data assumes a single female driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
In the previous example, the average cost of auto insurance in Colorado per year with no accidents and a clean driving record is $1,933. Factor in two speeding tickets and the average cost increases to $2,601, an increase of $668 each year. Then add one accident along with the two speeding tickets and the annual cost of car insurance for immigrants in Colorado increases to an average of $3,267. That's an increase of $1,334, or $111 per month, just for not maintaining a clean driving record!
How to find more affordable insurance for immigrants in Colorado
It's not impossible to find cheaper rates, and here are some thrifty solutions that can help you locate cheap car insurance.
- Don't waste money on full coverage for older vehicles
- Bundle home and auto and earn a discount
- Avoid filing small claims
- Increase your comprehensive and collision deductibles
- Improve your credit
- Get cheaper liability coverage by choosing a safer vehicle
- Compare rates often to find the best deal
That last tip is notably valuable, as was emphasized in this piece. Car insurance prices can be modified anytime, so don't be afraid to buy from a different company if a better deal can be had.
Having a favorite company is great, but it isn't a good idea if it's costing you a small fortune. Take a few minutes and compare prices to find cheaper auto insurance for immigrants.