Buying economical car insurance for a Toyota Highlander in Colorado can be pretty simple, but it hinges on a fairly complex equation with a lot of factors such as age of the vehicle, the likelihood of your vehicle being stolen, and your policy deductibles. Drivers will pay around $1,031 each year to insure their Highlander, but that price is a valuation using a 30-year-old married male driver with both comprehensive and collision coverage and $500 deductibles.
It's more than likely you aren't exactly 30 years old or even a male, maybe you are single instead of married, or you just want cheap liability insurance instead of full coverage. Auto insurance is unique to each driver, so the way we recommend to find cheap auto insurance rates for your Toyota is to compare rates from as many companies as possible.
Vehicle trim level impacts the yearly cost, so the price to insure a Highlander 2WD trim level will cost $188 less than the cost to insure the fancier Highlander Hybrid Limited 4WD trim level, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Highlander Sport 4WD||$250||$368||$352||$20||$106||$1,096||$91|
|Highlander SE 2WD||$250||$368||$352||$20||$106||$1,096||$91|
|Highlander Sport 2WD||$250||$368||$352||$20||$106||$1,096||$91|
|Highlander Limited 2WD||$278||$434||$352||$20||$106||$1,190||$99|
|Highlander SE 4WD||$278||$434||$352||$20||$106||$1,190||$99|
|Highlander Limited 4WD||$278||$434||$352||$20||$106||$1,190||$99|
|Highlander Hybrid 4WD||$278||$434||$352||$20||$106||$1,190||$99|
|Highlander Hybrid Limited 4WD||$278||$434||$352||$20||$106||$1,190||$99|
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in your specific Colorado location which can revise insurance rates significantly.
Figuring out which companies have the most affordable insurance rates for a Toyota Highlander in Colorado takes a little more sweat in order to find a policy that fits your budget.
Every car insurance company has a proprietary formula for setting prices, so let's look at the rankings for the insurance companies with the overall cheapest rates in Colorado. It's important that you understand Colorado insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Getting older, buying a home instead of renting, or having an at-fault accident can trigger rate changes resulting in some companies being cheaper than competitors.
Best Insurance Companies for Your Highlander
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
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The Hartford quotes some of the most affordable car insurance rates in Colorado at around $825 per year. This is $753 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners also rank well as some of the cheapest Colorado insurance companies.
As the example above demonstrates, if you are insured with Nationwide and switched to The Hartford, you may realize an annual premium reduction of roughly $296. Insureds with Auto-Owners could save as much as $331 a year, and Travelers policyholders might see rate reductions of $346 a year.
To find out how much you can save, click here to get a free quote or quote prices from the following companies.
These policy prices are averages across all ages of drivers and types of vehicles and and are not calculated with a specific rating modification for a Toyota Highlander. So the auto insurance company that can offer you the best price may not even be in the list above. That is why you need to get auto insurance quotes using your own specific driver and vehicle information.
The illustration below illustrates how choosing a deductible can change insurance costs when trying to find cheap insurance for a Toyota Highlander in Colorado. The premiums assume a married female driver, full coverage, and no policy discounts are applied.
The data above shows that a 30-year-old driver could lower their car insurance rates by $400 a year by changing from a $100 deductible up to a $500 deductible, or save $604 by using a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could lower their rates up to $856 each year by using higher deductibles when buying full coverage. When increasing deductibles, it is important to have enough savings set aside to satisfy the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Shop around and save
Colorado insurance rates are impacted by many factors that can increase the price of coverage. Simply turning a year older, increasing liability limits, or getting into an accident can trigger rate changes that can now make some companies cheaper than competitors.
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. Heavier than normal losses can cause increased policy costs, while profitable underwriting can produce lower-priced Highlander insurance rates.
As an example, the bar chart below shows rates for the cheapest car insurance in Colorado for a 45-year-old female driver with no prior claims, no tickets, and a good credit history. Based on her current rating profile, The Hartford has the most affordable 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 remaining most affordable Colorado auto insurance companies.
In this next rate comparison, we will give the driver in the first chart an accident surcharge, a little lower credit rating, and a few blemishes on her driving record. Because each company uses their own method to set their prices, analyzing rate quotes most likely will result in a substantially altered list of the cheapest car insurance companies in Colorado as shown below.
Travelers now has the cheapest price in Colorado with State Farm, American Family, Grange, and Progressive now being in the top five. This example shows why Colorado drivers need to perform a complete rate comparison when trying to get affordable car insurance rates for a Toyota Highlander. Auto insurance prices are determined by many factors and can change without notice, so the most economical company three years ago may now cost much more than other companies.