Shopping around for affordable auto insurance is tough enough, and deciding which company offers the most affordable insurance rates in Lakewood involves even more perseverance. Each insurer has their own formula for determining rates in each state, so first we will examine the insurance companies with the overall cheapest rates in Lakewood, CO.
It's important to know that Lakewood insurance rates are determined by lots of factors that may substantially change the cost of coverage. This price variability is why it is so important to shop around when trying to get cheap auto insurance quotes in Lakewood. Auto insurance prices are influenced by many things and change frequently, so the cheapest rate the last time you compared rates may now not even be in the top five.
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
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The Hartford may offer some of the most affordable car insurance rates in Lakewood at around $859 each year. Grange, USAA, Nationwide, and GEICO are also some of the more affordable Lakewood, CO insurance companies.
As shown above, if you buy coverage from Grange and switched to The Hartford, you may see annual savings of roughly $99. Customers with USAA might save as much as $180 a year, and Nationwide insureds might cut rates by $250 a year.
To discover how much you can save, click here to get a free quote or quote prices from the following companies.
Be aware that those prices are averaged for all drivers and vehicles in Colorado and do not factor in an exact zip code location in Lakewood. So the insurer that has the lowest price for you may not even be in the top 21 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own driver and vehicle profiles.
For drivers in Lakewood, one of the big factors that are looked at to help calculate the amount you pay for auto insurance is where your residence is in Lakewood. Areas with more people or even just a higher incidence of claims tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims benefit from having to pay less for coverage.
The following table shows the most expensive places in Colorado in which to buy car insurance. Lakewood makes the list at #5 having an annual price of $1,337 for the average policyholder, which is approximately $111 per month.
|Rank||City||Average Per Year|
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Price information shown is comparative as the specific area where the vehicle is garaged can lower or raise premiums significantly.
The car, truck, or SUV you are seeking coverage for is probably the most important factor that determines whether or not you find affordable auto insurance in Lakewood. Vehicles with high performance features, poor safety features, or a high likelihood of having liability claims will cost more to insure than safer, lower-performance models. The list below showcases car insurance rates for the cheaper vehicles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Edge SE 2WD||$1,425|
|Jeep Wrangler Sport 4WD 2-Dr||$1,464|
|Ford Escape XLT 4WD||$1,505|
|Honda CR-V EX-L 4WD||$1,514|
|GMC Sierra SL Extended Cab 2WD||$1,536|
|Chevrolet Equinox LT AWD||$1,545|
|Volkswagen Jetta S 4-Dr Sedan||$1,536|
|Jeep Grand Cherokee Laredo 2WD||$1,542|
|Dodge Grand Caravan Crew||$1,564|
|Toyota Tacoma Double Cab 4WD||$1,574|
|Honda Accord EX-L 4-Dr Sedan||$1,587|
|Hyundai Elantra Blue 4-Dr Sedan||$1,590|
|Nissan Altima Hybrid 4-Dr Sedan||$1,646|
|Ford Focus S 4-Dr Sedan||$1,695|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,705|
|Ford F-150 FX4 Super Cab 4WD||$1,716|
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can increase or decrease prices greatly.
By looking at the data, you can figure that cars like the Ford Edge, Jeep Wrangler, Ford Escape, Honda CR-V, and GMC Sierra are most likely going to be the most affordable vehicles to insure for drivers in Lakewood.
The diagram below shows how different deductible levels can affect insurance rates when trying to find cheap insurance in Lakewood. The data assumes a married female driver, comp and collision included, and no discounts are factored in.
The chart above illustrates that a 50-year-old driver could save $324 a year by switching from a $100 deductible up to a $500 deductible, or save $488 by using a $1,000 deductible. Even younger drivers, like the 20-year-old example, could shave $802 every year by choosing a higher deductible.
If you do raise deductibles, it is necessary to have plenty of discretionary funds to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
How to find economical car insurance in Lakewood
Lowering your rates is not difficult, and here are many money-saving solutions that can help Colorado drivers quote low-cost auto insurance.
- Violations and traffic tickets increase rates
- Good credit can mean cheaper rates
- Increase your comprehensive and collision deductibles
- Safer vehicles cost less to insure
- Do not get into accidents
- Compare prices as often as possible
The last item on the list is remarkably critical, as was noted in the prior information. Car insurance rates adjust frequently, so don't be afraid to buy a different policy if a more affordable price is available. Having a favorite company is great, but it's not a great idea if that devotedness results in you overpaying a lot of money. It only takes a couple minutes to compare prices and find cheaper car insurance in Lakewood.