One of the many factors that are used to help calculate the cost of insurance is where your car is garaged in Colorado. Areas with more people or even just a higher incidence of claims like Denver, Aurora, and Northglenn tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive slightly lower rates.
The illustration below lists the most expensive areas in Colorado for drivers with good credit to purchase a policy in.
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Premium amounts are comparative as the specific area where the vehicle is garaged can modify price quotes considerably.
The type of vehicle driven is a large factor that determines whether or not you find the best cheap coverage for drivers with good credit. Vehicles with average performance, good safety features, or a positive history of liability claims will cost significantly less to insure than higher performance models.
The table below outlines insurance rates for some of the most economical vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Volkswagen Jetta S 2.5 Station Wagon||$946|
|Ford Escape Limited 2WD||$975|
|Honda CR-V LX 2WD||$984|
|Chevrolet Silverado LT Extended Cab 4WD||$1,028|
|Chevrolet Malibu Hybrid||$1,034|
|Dodge Grand Caravan Crew||$1,047|
|Honda Civic EX 4-Dr Sedan||$1,066|
|Hyundai Elantra Blue 4-Dr Sedan||$1,073|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,068|
|Chevrolet Equinox LTZ 2WD||$1,104|
|Honda Odyssey EX W/Rear Entertainment||$1,108|
|Ford Explorer XLT AWD||$1,113|
|Toyota RAV4 Sport 4WD||$1,129|
|Toyota Tacoma 2WD||$1,135|
|Ford F-150 Lariat Super Cab 4WD||$1,152|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,157|
|Ford Focus SE 2-Dr Coupe||$1,158|
|GMC Sierra Denali Crew Cab 4WD||$1,179|
|Ford Edge Sport AWD||$1,192|
|Toyota Corolla XLE||$1,197|
|Chevrolet Impala LTZ||$1,192|
|Nissan Rogue S AWD||$1,204|
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Rates do not factor in your specific Colorado location which can revise price quotes substantially.
Looking at the data, you can figure that vehicles like the Volkswagen Jetta, Toyota Prius, and Ford Escape are likely to be a few of the more affordable vehicles to insure for financially responsible drivers.
Determining which insurers offer the cheapest car insurance rates for drivers with good credit in Colorado calls for a little more sweat in order to find the best policy.
Every insurance provider has their own unique process for establishing rates, so to begin we'll rank the most affordable car insurance companies in Colorado.
Find the Cheapest Car Insurance for High Credit
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,624|
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The Hartford quotes some of the most affordable car insurance rates in Colorado at around $825 a year. Grange, USAA, Nationwide, and Auto-Owners are also some of the cheapest Colorado car insurance companies.
As shown in the rates above, if you have coverage with Nationwide and switched to The Hartford, you might see savings of approxmiately $284. Customers with Auto-Owners could save as much as $331 a year, and GEICO customers might reduce rates by $362 a year.
These estimates are averaged for all drivers and vehicles in Colorado and and are not calculated with a price decrease for drivers with good credit. So the insurer that fits you best may not even be in the top 21 companies shown above. That's why you need to get rate quotes from many companies using your own driver information and specific vehicle type.
Buying coverage from the top auto insurance company can be rather challenging considering how many different companies sell coverage in Colorado. The ranking data shown below could help you select which auto insurance companies to look at when buying insurance for drivers with good credit.
The ratings below are only made up of companies with a national presence, so companies that have a smaller presence are not factored into these rankings. To compare prices from these and other competitive companies, click here.
Top 10 Major Auto Insurance Companies in Colorado Ranked by A.M. Best Rating
- USAA - A++
- Travelers - A++
- State Farm - A++
- GEICO - A++
- Esurance - A+
- Nationwide - A+
- Allstate - A+
- Progressive - A+
- Titan Insurance - A+
- The Hartford - A+
The example below demonstrates how deductibles can raise or lower insurance costs when quoting cheap insurance for drivers with good credit in Colorado. The data assumes a single male driver, full coverage, and no other discounts are factored in.
The data above shows that a 40-year-old driver could lower their policy premium by $290 a year by switching from a $100 deductible up to a $500 deductible, or save $436 by changing to a $1,000 deductible. Young drivers, like the 20-year-old category, could potentially save as much as $948 each year by choosing a larger deductible amount. If you do make the decision to raise your deductibles, it is important to have spare funds to be able to cover the extra out-of-pocket expense that comes with higher deductibles.
Careless driving habits raise car insurance rates
The common sense way to find low car insurance premiums in Colorado for financially responsible drivers is to drive attentively and maintain a clean driving record. The illustration below illustrates how traffic citations and fender-benders impact insurance prices for different ages of insureds. The costs are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
In the previous chart, the average cost of auto insurance per year with no accidents and a clean driving record is $1,254. Add in two speeding tickets and the average cost jumps to $1,720, an increase of $466 each year. Then add in one accident along with the two speeding tickets and the annual cost of car insurance for drivers with good credit in Colorado goes up to an average of $2,193. That's an increase of $939, or $78 per month, just for not being more responsible behind the wheel!