The words "economical" and "insurance" probably shouldn't be used together, especially when you are looking for the best coverage prices for drivers requiring a SR22. To help control this cost, let's start off by going over a few of the things that have an effect on car insurance rates, and find out if we can help you shave a little off your next policy.
For high risk drivers, one of the more important things that aid in calculating insurance cost is the neighborhood you call home in Colorado. Areas with high crime rates or more dense population like Pueblo, Aurora, and Northglenn will most likely pay more, whereas areas with less crime or weather claims have the benefit of cheaper auto insurance prices.
The information below rates the priciest cities in Colorado for drivers requiring a SR22 to purchase a policy in.
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Annual rates are approximated as vehicle location can impact premium rates noticeably.
The vehicle requiring coverage is probably the largest consideration when shopping around for the best cheap auto insurance for drivers requiring a SR22. Vehicles with economical engines, good crash test ratings, or low incidents of liability claims will cost less to insure than fast, unsafe models.
The data below shows car insurance rates for a number of the most economical automobiles to insure in Colorado.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$3,191|
|Honda Accord LX 4-Dr Sedan||$3,224|
|Honda CR-V LX 2WD||$3,230|
|Hyundai Elantra SE Touring Station Wagon||$3,298|
|Ford F-150 XL Super Cab 2WD||$3,468|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$3,474|
|Ford Explorer Eddie Bauer 2WD||$3,651|
|Toyota RAV4 Sport 4WD||$3,670|
|Chevrolet Impala LT||$3,677|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$3,706|
|Dodge Grand Caravan Hero||$3,781|
|GMC Sierra SLE Crew Cab 2WD||$3,817|
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Data rating is based on single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, and homeowner. Premium costs do not factor in specific location information which can increase or decrease coverage rates greatly.
Looking at the rates, you can conclude that vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Hyundai Elantra are going to be a few of the most affordable vehicles to insure for high risk drivers. The price of auto insurance will tend to be higher because of the fact that there is more claim risk for drivers requiring a SR22, but overall those particular vehicles will have the lowest insurance rates available.
Bad driving habits will cost you more
In a perfect world, the best way to score good auto insurance prices in Colorado for high risk drivers is to drive attentively and avoid accidents and keep your driving record clean. The diagram below shows how violations and fender-benders can impact auto insurance rates for different age categories. Data assumes a single female driver, full coverage, $250 deductibles, and no additional discounts are factored in.
The data above shows the average cost of car insurance per year with a clean driving record and no accidents is $1,754. Get one speeding ticket and the average cost surges to $1,986, an increase of $233 each year. Then add two accidents along with the one speeding ticket and the 12-month cost of auto insurance for drivers requiring a SR22 in Colorado goes up to an average of $4,002. That's an increase of $2,248, or $187 per month, just for not being a responsible driver!
Buying coverage from a high-quality auto insurance company can be challenging considering how many companies are available to choose from in Colorado. The company ratings displayed below may help you decide which companies to look at when comparing rates.
These rankings are for companies that write coverage in many states, so companies with more of a regional focus are not included in this list. If you'd like to compare prices from the most competitive companies in Colorado, follow this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Get discount Colorado auto insurance
Car insurance companies that offer cheap quotes for drivers requiring a SR22 may have policy discounts that could lower prices by 35% or more if you qualify for them. Companies and their offered discounts are:
- Mercury Insurance may offer discounts for type of vehicle, multi-policy, professional/association, accident-free, good student, location of vehicle, and age of vehicle.
- Farmers Insurance has discounts for youthful driver, good student, homeowner, alternative fuel, and business and professional.
- Farm Bureau offers discounts for driver training, safe driver, multi-policy, youthful driver, multi-vehicle, 55 and retired, and good student.
- State Farm offers premium reductions for safe vehicle, defensive driving training, accident-free, passive restraint, and Steer Clear safe driver discount.
- Allstate may have discounts that include EZ pay plan discount, safe driver, passive restraint, 55 and retired, and resident student.
- GEICO may include discounts for defensive driver, federal employee, five-year accident-free, anti-lock brakes, daytime running lights, good student, and seat belt use.
The diagram below illustrates the comparison of insurance costs with and without discounts applied to the premium. The information is based on a male driver, one at-fault accident and three violations, Colorado state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with paperless filing, multiple policy, marriage, continuous coverage, homeowner, and vehicle safety discounts applied. When drivers take advantage of discounts, the average amount saved each year on auto insurance for drivers requiring a SR22 is 28% or $916.