Colorado insurance companies ranked
Ending up with a highly-rated insurer is difficult considering how many choices there are in Colorado. The rank data below could help you select which car insurance providers you want to consider when shopping around. The rankings below are only made up of large insurance companies, so companies that may only write in Colorado will not be included in the list.
Top 10 Major Auto Insurance Providers in Colorado Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
- The General
Top Companies for Chevrolet Cruze Insurance in Colorado
As an average for all age groups, comprehensive and collision coverage on your policy costs $1,909 per year more than carrying just liability coverage. Many of you may wonder when is it safe to stop buying full coverage. There isn't a steadfast formula that works best for making the decision to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let's say your vehicle's book value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $7,000 after the policy deductible has been paid. If premiums are more than $700 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
Your low-price policy may be costing you money
Colorado insurance rates are influenced by many factors that may substantially change the cost of having a policy. Simply getting older, getting married, or getting a ticket for running a stop sign can trigger changes in premium resulting in some rates now being cheaper in comparison to the competition.
Not only may things change on your end, but companies file new Colorado car insurance rates as often as every three months to reflect underwriting profits or losses. Higher than usual claims may result in higher prices, while better underwriting may cause cheaper Cruze insurance rates.
As an example, the chart below shows which companies have the cheapest car insurance in Colorado for a 30-year-old male driver with no violations or accidents, and a decent credit rating. If we estimate prices based on his personal profile, The Hartford may offer the lowest car insurance rates in Colorado at $834 a year. This is $744 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also included in the top five cheapest Colorado auto insurance companies.
Now we will pretend the driver in the first chart a claim, poor credit, and a speeding ticket. Since every car insurance company has their own guidelines for setting prices, comparing prices may now present a new list of affordable Colorado car insurance companies as shown below.
Travelers now has the cheapest auto insurance in Colorado with State Farm, American Family, Progressive, and Amica now rounding out the top five. This example proves why Colorado drivers need to shop around when trying to get the most affordable car insurance quotes for a Chevy Cruze.
Prices can be determined by many risk factors and can change substantially, so the most economical option when you bought your policy may now cost much more than other companies.
How to find economical auto insurance for a Chevy Cruze in Colorado
It's not impossible to find cheaper rates, and here are some of the better money-saving solutions that can help you locate low-cost auto insurance.
- Drop full coverage on older vehicles
- Vehicles with good safety ratings are usually cheaper to insure
- Avoid price increases by not filing claims
- Insure your home and auto with the same company
- Raise physical damage deductibles
- Maintaining good credit helps earn cheaper rates
- Compare rates regularly to ensure the best deal
The last item on the list is highly valuable, as we noted in the prior article. Rates can be modified anytime, so you should be ready to switch carriers if a cheaper price is available.
Staying with the same company for years is fine, but it's not recommended if that dedication is costing money that could be used for better things. Now is a great time to compare prices to find cheaper auto insurance for a Chevy Cruze.