Buying the best cheap car insurance for a Toyota 4Runner in Colorado relies on a complex formula that considers things such as your birth date, the size of your vehicle, and citations or violations on your driving record. Drivers pay approximately $1,445 annually to insure their 4Runner, but that cost is a valuation based on a 30-year-old single female driver with both comprehensive and collision coverage and $100 deductibles.
Odds are that you are not 30 and maybe not even a female, maybe you are married instead of single, or maybe your 4Runner doesn't need full coverage. Just a minor difference in rating variables or coverage information can make a big difference in the price of a policy.
Auto insurance requires individual risk assessment, so the only way to find the cheapest rates for your Toyota is to do the rate comparisons yourself. Do a quick rate comparison now and you will be able to compare rates from the best companies that offer coverage in Colorado.
The trim level of your Toyota can impact the cost of coverage, so the price you pay to insure a 4Runner Sport 2WD model will be $284 less expensive the cost to insure the higher-priced 4Runner Limited 4WD version, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|4Runner Sport 2WD||$378||$552||$404||$24||$120||$1,478||$123|
|4Runner SR/5 2WD||$378||$672||$404||$24||$120||$1,598||$133|
|4Runner Sport 4WD||$378||$672||$404||$24||$120||$1,598||$133|
|4Runner SR/5 4WD||$378||$672||$404||$24||$120||$1,598||$133|
|4Runner Trail Edition 4WD||$422||$792||$404||$24||$120||$1,762||$147|
|4Runner Limited 2WD||$422||$792||$404||$24||$120||$1,762||$147|
|4Runner Limited 4WD||$422||$792||$404||$24||$120||$1,762||$147|
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Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Price estimates do not factor in vehicle location which can alter premiums substantially.
Finding reliable, cost effective car insurance is challenging, and determining which company has the cheapest car insurance rates for a Toyota 4Runner in Colorado involves even more rate comparisons.
Every insurance provider uses a different method for setting rates, so let's rank the car insurance companies with the overall best prices in Colorado.
Lowest Insurance Price Quotes for Your Toyota
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,640|
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The Hartford may offer some of the most affordable car insurance rates in Colorado at around $834 per year. Grange, USAA, Nationwide, and GEICO also rank well as some of the more affordable Colorado car insurance companies.
In the above example, if you currently buy coverage from Grange and switched to The Hartford, you may see an annual premium reduction of about $153. Insureds with USAA could save as much as $175 a year, and Nationwide customers might reduce prices by as much as $287 a year.
Bear in mind that those rates are averaged for all ages of drivers and types of vehicles and do not factor in a specific rating modification for a Toyota 4Runner. So the auto insurance company that can offer you the best rate may not even be in the top 21 companies shown above. That is why you need to get rate quotes from many companies using your own specific driver and vehicle information.
Cost comparison with and without full coverage
Buying cheaper car insurance is important to the majority of drivers, and one great way to reduce the cost of insurance for a Toyota 4Runner in Colorado is to not buy comprehensive and collision coverage. The illustration below shows the comparison of insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The costs are based on no violations or accidents, $1,000 deductibles, single marital status, and no additional discounts are factored in.
As an average for all age groups, comprehensive and collision coverage on your policy costs an additional $1,624 per year more than just buying liability insurance. That touches on the question when is it a good idea to stop buying full coverage. There is no specific rule for phasing out comp and collision coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let's pretend your vehicle's claim settlement value is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $11,000 after paying the physical damage deductible. If premiums are more than $1,100 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.
Cautious Colorado drivers save money
One of the best ways to find the most affordable car insurance prices in Colorado for a 4Runner is to drive attentively and not have accidents or get tickets. The information below shows how speeding tickets and at-fault collisions increase annual premium costs for each age group. The premiums are based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of auto insurance per year with no accidents and a clean driving record is $1,756. Factor in one speeding ticket and the average cost rises to $1,990, an increase of $233 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of car insurance for a Toyota 4Runner in Colorado jumps again to an average of $3,999. That's an increase of $2,243, or $187 per month, just for not driving attentively!
The diagram below shows how choosing a deductible can influence insurance premiums when researching cheap insurance for a Toyota 4Runner in Colorado. The premiums assume a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
A 50-year-old driver could pocket $358 a year by switching from a $100 deductible to a $500 deductible, or save $540 by changing to a $1,000 deductible. Youthful drivers, like the age 20 example, have the ability to save up to $1,168 or more by choosing larger deductibles on their policy. When increasing deductibles, it is necessary to have enough savings set aside to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.