One of the many components that help determine auto insurance rates is where your residence is in Denver. Areas with increased crime or more people tend to have higher rates, whereas more rural areas benefit from lower coverage costs.
The table below sorts the most expensive places in Colorado for good students to buy car insurance in. Denver is listed at #1 with the yearly price of $1,439 for coverage, which is around $120 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Denver | $1,439 |
| 2 | Aurora | $1,417 |
| 3 | Pueblo | $1,412 |
| 4 | Commerce City | $1,354 |
| 5 | Security-Widefield | $1,343 |
| 6 | Northglenn | $1,342 |
| 7 | Lakewood | $1,337 |
| 8 | Colorado Springs | $1,316 |
| 9 | Ken Caryl | $1,313 |
| 10 | Thornton | $1,307 |
| 11 | Arvada | $1,295 |
| 12 | Littleton | $1,293 |
| 13 | Westminster | $1,284 |
| 14 | Centennial | $1,278 |
| 15 | Brighton | $1,273 |
| 16 | Castle Rock | $1,248 |
| 17 | Highlands Ranch | $1,241 |
| 18 | Parker | $1,233 |
| 19 | Broomfield | $1,215 |
| 20 | Boulder | $1,195 |
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Rate information is comparative as the specific Denver residence address can lower or raise coverage rates significantly.
The vehicle model you are insuring is a significant factor when comparing quotes for the best insurance for good students. Vehicles with lots of speed or power, poor passenger safety features, or a track record of large liability claims will cost much more to insure than safer, lower-performance models. The list below shows insurance costs for the most economical automobiles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $5,217 |
| Honda CR-V EX-L 4WD | $5,265 |
| Jeep Wrangler Sport 4WD 2-Dr | $5,478 |
| Ford Escape Limited 4WD | $5,594 |
| Toyota Prius | $5,645 |
| Toyota Tacoma 4WD | $5,856 |
| Ford F-150 XL Super Cab 4WD | $5,863 |
| Honda Civic DX 4-Dr Sedan | $6,136 |
| Chevrolet Impala LS | $6,141 |
| Volkswagen Jetta LE 4-Dr Sedan | $6,185 |
| Toyota Camry LE | $6,195 |
| Toyota RAV4 2WD | $6,185 |
| Jeep Grand Cherokee Laredo 4WD | $6,194 |
| Dodge Grand Caravan Hero | $6,185 |
| Ford Explorer Limited AWD | $6,236 |
| Honda Odyssey EX-L W/Navigation | $6,517 |
| Toyota Corolla XLE | $6,523 |
| Hyundai Elantra SE 4-Dr Sedan | $6,517 |
| Ford Edge Sport 2WD | $6,522 |
| Chevrolet Malibu LTZ | $6,568 |
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Table data assumes single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in Denver, CO location which can affect auto insurance rates significantly.
By looking at the data, we can tell that vehicles like the Honda Accord, Honda CR-V, and Jeep Wrangler are going to be some of the most affordable vehicles to insure for student drivers.
Figuring out which company quotes the cheapest car insurance rates for good students calls for a little more effort in order to find the lowest price quote. Each auto insurer has a proprietary formula to determine premium rates, so we’ll take a look at the most budget-friendly car insurance companies in Colorado.
It’s important to know that Colorado car insurance rates are impacted by many things which can significantly increase or decrease the cost of a policy. Simply having a birthday, moving to a different location, or having an at-fault accident can produce rate changes resulting in some companies being more affordable than others.
Cheap Insurance Rates for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $978 |
| 3 | USAA | $1,009 |
| 4 | Nationwide | $1,121 |
| 5 | GEICO | $1,141 |
| 6 | Auto-Owners | $1,168 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,246 |
| 9 | American Family | $1,314 |
| 10 | Amica | $1,340 |
| 11 | Progressive | $1,362 |
| 12 | California Casualty | $1,444 |
| 13 | Allied | $1,497 |
| 14 | Colorado Farm Bureau | $1,624 |
| 15 | Farmers | $1,629 |
| 16 | MetLife | $1,830 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,711 |
| Compare Rates Now Go | ||
The Hartford offers some of the most affordable car insurance rates in Denver at around $834 a year. Grange, USAA, Nationwide, and GEICO also make the cut as some of the lowest-priced Denver, CO insurance companies.
As depicted above, if you have coverage with Nationwide and switched to The Hartford, you might realize an annual premium reduction of roughly $287. Insureds with GEICO might save as much as $307 a year, and Auto-Owners policyholders might see rate reductions of $334 a year.
It’s important to note that these policy prices are averaged for all drivers and vehicles and and are not calculated with an exact zip code location for good students. So the car insurance company that is most affordable for your situation may not even be in the top 21 companies in the list above. That points out the importance of why you need to get rate quotes using your own driver data and vehicle information.
Cost comparison with and without full coverage
Lowering the price of car insurance is important to the majority of drivers, and one easy way to find cheap insurance for good students is to buy only liability coverage. The chart below shows the comparison of insurance costs when comparing full coverage to liability only. Data assumes no violations or claims, $1,000 deductibles, drivers are not married, and no discounts are applied.
If we average the cost for ages 20 through 70, full coverage on your policy costs $1,967 per year more than insuring for liability only. That touches on the question if you should buy full coverage at all. There isn’t a steadfast formula for dropping physical damage coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
The chart below demonstrates how deductible levels can raise or lower premium costs when researching cheap insurance for good students. Data assumes a married female driver, full coverage, and no other discounts are factored in.
The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $324 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $488 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 category, could drop their prices $802 annually by choosing larger deductibles on their policy. When raising deductibles, it is necessary to have enough funds in savings to satisfy the extra out-of-pocket expense associated with higher deductibles.
How to get discounts on Denver auto insurance rates
Car insurance companies that sell policies for good students may additionally offer price discounts that could potentially reduce rates by 35% or more if you meet specific eligibility requirements. A list of companies and their possible discounts are:
- State Farm may offer discounts for good student, multiple autos, multiple policy, accident-free, and Steer Clear safe driver discount.
- Progressive offers premium reductions for online signing, multi-policy, multi-vehicle, good student, and homeowner.
- Travelers has savings for good student, payment discounts, multi-policy, student away at school, multi-car, and driver training.
- American Family policyholders can earn discounts including good student, Steer into Savings, early bird, good driver, and bundled insurance.
- Liberty Mutual offers discounts for multi-car, newly retired, new graduate, teen driver discount, and preferred payment discount.
The diagram below illustrates the comparison of insurance costs with and without discounts applied. The prices are based on a female driver, no accidents or driving violations, Colorado state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with vehicle safety, paid-in-full, passive restraint, good student, paperless filing, and anti-theft discounts applied. When discounts are applied, theaverage amount saved on car insurance for good students is 28% or $823.
How to find low-cost car insurance for good students
Lowering your rates is not difficult, and here are some of the recommended penny-pinching ideas that can help Colorado drivers locate more affordable coverage.
- Avoid speeding and other traffic citations and pay less
- Higher physical damage deductibles lower rates
- Maintain a safe distance and avoid accidents
- Buy a vehicle with excellent safety ratings
- Don’t waste money on full coverage for older vehicles
- Higher credit scores can equal lower rates
- Compare prices frequently to find the best deal
That last tip is very critical, as was stressed in this article. Rates can change considerably based on profitability, so drivers shouldn’t be resistant to buy from a new company if you can save money. Having a favorite company is great, but is isn’t recommended if that faithfulness ends up costing you a wad of cash every year. Spend a few minutes and shop around and find cheaper auto insurance for good students in Denver.
The insurance agencies listed below can help you determine which car insurance company is the best fit, since many people would rather get some professional advice when trying to find the best insurance rates for good students. It can be complicated to find the cheapest car insurance policy, and getting professional guidance from a licensed agent can provide you satisfaction knowing your coverage gives you adequate protection.
To locate a Denver insurance agent close to you, click the button link following the list.
- Joe Adams – State Farm Insurance Agent
4110 8th Ave – Denver, CO 80220 – (303) 388-4949 - Caramel Russell-Rouse – State Farm Insurance Agent
999 S Monaco Pkwy #200 – Denver, CO 80224 – (303) 424-0420 - Tammy Hill – State Farm Insurance Agent
4650 Tower Rd Unit 101 – Denver, CO 80249 – (303) 373-9500 - Farmers Insurance – James Lundin
1490 N Lafayette St #302b – Denver, CO 80218 – (303) 433-4542 - Allstate Insurance: Denise Hoffman
535 16th St #350 – Denver, CO 80202 – (303) 628-0554