The words "economical" and "insurance" probably shouldn't be used together, specifically when you are looking for the best price on coverage for felons. To help control this cost, let's teach you a few of the things that determine auto insurance prices, and come up with some ways to cut the cost of your next policy.
The car, truck, or SUV that needs insurance is one of the primary factors that determines if you can find cheaper coverage for felons. Vehicles with lower acceleration and performance, a great safety record, or a track record of few liability claims will cost substantially less to insure than high performance models.
The next table outlines car insurance costs for the cheaper automobiles to insure in Colorado.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$755|
|Honda Accord LX-P 4-Dr Sedan||$828|
|Ford F-150 XLT Regular Cab 4WD||$837|
|Ford Explorer XLT AWD||$828|
|Ford Escape Limited 2WD||$851|
|Volkswagen Jetta LE 4-Dr Sedan||$874|
|Hyundai Elantra SE Touring Station Wagon||$877|
|Dodge Grand Caravan Crew||$893|
|Honda Odyssey EX-L||$921|
|Chevrolet Impala LTZ||$929|
|Jeep Wrangler Rubicon 4WD 2-Dr||$927|
|Ford Edge SEL 2WD||$933|
|Toyota RAV4 4WD||$954|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$956|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$975|
|Chevrolet Equinox LT 2WD||$982|
|Ford Focus SES 2-Dr Coupe||$984|
|GMC Sierra 2500HD SLT Extended Cab 4WD||$986|
|Chevrolet Silverado 2500HD LTZ Crew Cab Diesel 4WD||$1,003|
|Hyundai Sonata Limited 4-Dr Sedan||$1,013|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,005|
|Toyota Corolla XLE||$1,012|
|Start Your Quote Go|
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Rate quotes do not factor in garaging location in Colorado which can raise or lower premiums significantly.
Based on these rates, we can assume that makes and models like the Honda CR-V, Honda Accord, and Ford F-150 are most likely going to be the most economical vehicles to insure for felons.
Figuring out which insurers offer the cheapest insurance rates for felons in Colorado may require more time in order to find coverage that fits your buget.
Every insurance provider uses different criteria for determining rates, so let's take a look at the most budget-friendly insurance companies in Colorado. We do need to point out that Colorado insurance rates are impacted by many things that can increase the price of your policy. Simply turning a year older, having a claim, or getting into an accident can trigger changes in premium that can make some companies cheaper than before.
Find Cheaper Auto Insurance for Felons
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
|Compare Rates Now Go|
The Hartford offers some of the cheapest car insurance rates in Colorado at around $859 each year. Grange, USAA, Nationwide, and GEICO would also be considered some of the cheapest Colorado insurance companies.
As shown in the rates above, if you currently buy coverage from USAA and switched to The Hartford, you may realize an annual savings of about $150. Colorado drivers with Nationwide could save as much as $262 a year, and GEICO insureds might cut rates by $293 a year.
Be aware that those premium estimates are averages for all ages of drivers and types of vehicles and are not factoring in a price discount for felons. So the car insurance company that can offer you the best price may not even be in the list above. That underscores the importance of why you need to get rate quotes using your own driver information and specific vehicle type.
One of the many criteria that aid in calculating the cost of insurance is where you live in Colorado. Regions with more people or even just more weather-related claims like Aurora, Denver, and Security-Widefield will most likely have higher rates, whereas areas with less congestion benefit from lower prices.
The table below sorts the highest-priced areas in Colorado for felons to purchase car insurance in.
|Rank||City||Average Per Year|
|Compare Rates Now Go|
Table data uses estimated as the vehicle garaging location can modify prices substantially.
Full coverage rates compared to liability-only
Reducing the cost of insurance is probably important to most people, and an effective way to pay less for insurance for felons in Colorado is to not buy full coverage. The diagram below compares insurance prices when comparing full coverage to liability only. Data assumes no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are applied.
As an average, full coverage costs $1,476 per year over and above liability only. At some point, every insured wonders if buying full coverage is worth the money. There is no set rule to stop paying for full coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the vehicle's replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let's say your vehicle's settlement value is $10,500 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $9,500 after the deductible is paid. If you are paying more than $950 a year for full coverage, then you might want to think about dropping full coverage.
Ratings for Colorado insurance companies
Insuring your vehicle with the right auto insurance company is hard considering how many choices you have in Colorado. The ranking information below may help you analyze which auto insurers to look at buying from.
The ratings below are only comprised of large nationwide companies, so smaller regional companies are not taken into consideration for this list. To get rate quotes and find the cheapest rates for felons, just click here.
Top 10 Major Auto Insurance Companies in Colorado Ranked by Customer Satisfaction
- Titan Insurance - 95%
- USAA - 94%
- AAA Insurance - 91%
- Nationwide - 90%
- State Farm - 90%
- The Hartford - 89%
- GEICO - 89%
- Allstate - 88%
- 21st Century - 88%
- The General - 88%
The benefits of price comparisons
Colorado insurance rates are impacted by many factors that will increase or decrease the price you have to pay for coverage. Simply getting older, having a teenage driver, or getting a few speeding tickets may generate price changes resulting in some rates now being more affordable than others. Also, insurers modify rates as often as every quarter to adjust for gains or losses. A period of increased losses can result in increased rates, while a lower level of claims can cause more affordable Colorado car insurance rates.
The graph below shows rates for the cheapest car insurance in Colorado for a 45-year-old male driver with no accidents or violations, and a good credit rating. If we compare prices based on his current situation, The Hartford might quote the lowest car insurance rates in Colorado at $850 annually. This is $728 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are the rest of the most affordable Colorado auto insurance companies.
Now we will pretend the driver in the first chart a couple of claims, a lower credit rating, and a speeding ticket. Since each auto insurance company has a different formula to determine rates, comparing rates will most likely result in a different list of cheap Colorado auto insurance companies as shown below.
Travelers now has the best price in Colorado with State Farm, American Family, Progressive, and Amica now rounding out the top five. This illustrates why it is so important to compare many different companies to get the most economical car insurance rates for felons.
Insurance rates are made up of many things and change frequently, so the cheapest option when you last compared rates may now not even be in the top five.
Ideas for finding the cheapest insurance for felons in Colorado
Lowering your rates is not difficult, and here are some of the better thrifty ideas that can help Colorado drivers quote cheap auto insurance.
- Drive a car with a high safety rating
- Be a safe driver
- Buying home and auto insurance together can earn discounts
- Remove physical damage coverage on older vehicles
- Earn discounts for being claim-free
- Prevent rate increases by staying accident-free
- Comparison shop at least once a year
That final tip is incredibly vital, as we pointed out in the prior information. Prices charged by auto insurers change frequently, so don't be unwilling to switch carriers if a better deal can be had. Sticking with a specific company is fine, but it's not a good idea if that loyalty results in overpaying hundreds every year. It only takes a couple minutes to compare rates and find cheaper auto insurance for felons.