The words "bargain" and "insurance" probably shouldn't be used in the same sentence, in particular when comparison shopping for the best car insurance for 20 year old guys. Because it's so expensive, let's open your eyes to a few of the factors that can significantly affect car insurance rates, and find out if we can help you take a little off the next policy you buy.
For young men, one of the largest things that are used to help calculate car insurance rates is the neighborhood you call home. Areas with a lot of weather claims or more people like Denver, Lakewood, and Commerce City tend to have more expensive auto insurance rates, whereas areas with less people or fewer weather incidents have the enjoyment of a little cheaper coverage.
The information below shows the most costly cities in Colorado for 20 year old guys in which to buy car insurance.
|Rank||City||Average Per Year|
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Rates are comparative as specific Colorado garaging address can influence price quotes significantly.
The vehicle you are seeking coverage for is one of the biggest factors that determines if you can find the best coverage for 20 year old guys. Vehicles with lots of speed or power, a lack of advanced safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer, lower-performance models. The information below shows car insurance costs for the cheaper vehicles to buy insurance for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,255|
|Honda CR-V EX 2WD||$2,261|
|Hyundai Elantra SE Touring Station Wagon||$2,455|
|Chevrolet Silverado LS Regular Cab 4WD||$2,474|
|Ford Explorer XLT AWD||$2,508|
|Ford F-150 XL Crew Cab 2WD||$2,514|
|Honda Odyssey EX||$2,640|
|Chevrolet Impala LS||$2,646|
|Toyota Tacoma 2WD||$2,640|
|Volkswagen Jetta SE 2.5 Station Wagon||$2,657|
|Chevrolet Malibu Hybrid||$2,674|
|Jeep Grand Cherokee Laredo 4WD||$2,681|
|Chevrolet Equinox LS 2WD||$2,674|
|Toyota RAV4 2WD||$2,683|
|Dodge Grand Caravan Crew||$2,707|
|Ford Focus SEL 4-Dr Sedan||$2,808|
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Price data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in your specific Colorado location which can raise or lower premium rates greatly.
Based on these rates, you can see that cars like the Ford Escape, Honda CR-V, and Hyundai Elantra are some of the most budget-friendly vehicles to insure for young men. The price of auto insurance will be higher anyway just because there is more claim exposure for 20 year old guys, but in general those particular models will most likely have the best insurance prices compared to other vehicles.
Trying to find budget auto insurance is difficult, and deciding which company offers the cheapest car insurance rates for 20 year old guys in Colorado may require additional perseverance. Policy rates could be significantly greater than the average policy in Colorado because of the posibility of more claims that comes with offering insurance for young men, but competitively-priced coverage may be achievable if you compare enough companies. Every car insurance company uses slightly different criteria to set their prices, so let's take a look at the car insurance companies that tend to have lower prices in Colorado.
We do need to point out that Colorado car insurance rates are based on many factors that may substantially change the price you pay for coverage. This price fluctuation is why it is critical to compare lots of rates when trying to get the most budget-friendly car insurance quotes for 20 year old guys. Insurance prices are calculated by many factors and can change without notice, so the most economical company when you bought your policy may now cost much more than other companies.
Find the Cheapest Auto Insurance for Men Age 20
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,624|
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The Hartford generally has some of the lowest 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.
As the example above demonstrates, if you currently have a policy with Nationwide and switched to Grange, you might achieve an annual savings of in the neighborhood of $172. Customers with GEICO could save as much as $192 a year, and Auto-Owners insureds might see rate reductions of $219 a year.
These estimates are averages across all ages of drivers and types of vehicles and and are not figured with a price increase for 20 year old guys. So the car insurance company that fits your needs best may not even be in the list above. That is why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
Impact of citations and accidents on Colorado insurance rates
The best way to earn affordable car insurance rates in Colorado for young men is to be a safe driver and not have accidents or get tickets. The example below illustrates how violations and at-fault collisions drive up premium costs for each age group. Data assumes a single male driver, full coverage, $1,000 deductibles, and no discounts are factored in.
The data in the chart shows the average cost of auto insurance per year with a clean driving record and no accidents is $1,967. Get written up for two speeding tickets and the average cost rises to $2,590, an increase of $623 each year. Now get two accidents along with the two speeding tickets and the 12-month cost of car insurance for 20 year old guys in Colorado increases to an average of $5,214. That's an increase of $3,247, or $271 per month, just for not driving safely!
The example below demonstrates how choosing different deductibles can increase or decrease annual premium costs when getting quotes for cheap insurance for 20 year old guys in Colorado. The premium estimates are based on a single male driver, full coverage, and no discounts are applied to the premium.
As shown above, a 30-year-old driver could save $326 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $490 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could save up to $948 annually just by choosing higher deductibles when buying full coverage. If you do decide to increase your deductibles, it is a good idea to have plenty of money set aside to offset the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
How to find budget-friendly insurance for 20 year old guys in Colorado
Below you'll find a few thrifty suggestions that can help drivers buy more affordable coverage.
- Be a cautious driver
- Increase physical damage deductibles
- Discounts for being claim-free can be substantial
- Avoid accidents
- Higher credit scores may earn you cheaper rates
- Bundle home and auto and earn a discount
- Shop your coverage around for the best deal
That last piece of advice is remarkably crucial, as we hit on in the prior article. Auto insurance rates can be changed at any time, so drivers shouldn't be reluctant to switch carriers if a better deal can be had. We understand brand loyalty, but it's not a great idea if that loyalty ends up costing hundreds of dollars year after year. It takes less than five minutes to compare rates and find cheaper car insurance for 20 year old guys.