The words “bargain” and “insurance” really shouldn’t be used together, specifically when searching for the cheapest coverage for low credit scores. Because it’s not cheap, let’s get started by showing you some of the things that significantly impact auto insurance rates, and see how we can help you lower the cost of the next policy you buy.
For bad credit, one of the largest things that aid in calculating the amount you pay each year for auto insurance is where your car is garaged in Denver. More densely populated places likely pay more, whereas more rural areas have the enjoyment of a little cheaper coverage.
The information below lists the most expensive places in Colorado for low credit scores to purchase car insurance in. Denver makes the list at #2 having an annual price of $1,397 for the average insured, which is around $116 monthly.
|Rank||City||Premium Per Year|
|Start a Quote Go|
Information shown are estimated as the garaging address in Denver can impact premiums greatly.
The car, truck, or SUV requiring insurance is a significant factor that determines whether or not you find affordable insurance for low credit scores. Vehicles with high performance features, a lack of advanced safety features, or a track record of large liability claims will cost much more to insure than safer models.
The list below outlines car insurance prices for a number of the most cost-effective automobiles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,380|
|Volkswagen Jetta S 2.5 Station Wagon||$1,467|
|Hyundai Elantra GLS Touring Station Wagon||$1,475|
|Dodge Grand Caravan SE||$1,514|
|Ford Escape XLS 2WD||$1,524|
|Ford Edge SEL AWD||$1,569|
|Ford F-150 XL Regular Cab 2WD||$1,595|
|Toyota Tacoma Double Cab 4WD||$1,600|
|Toyota RAV4 4WD||$1,609|
|Nissan Rogue S AWD||$1,716|
|GMC Sierra SLE Crew Cab 2WD||$1,725|
|Ford Explorer XLT 4WD||$1,718|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,794|
|Chevrolet Impala LT||$1,802|
|Start Your Quote Go|
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Rate information does not factor in specific Denver, CO garaging location which can raise or lower auto insurance rates substantially.
Looking at the numbers, we can tell that vehicles like the Honda CR-V, Volkswagen Jetta, Hyundai Elantra, and Dodge Grand Caravan should be some of the most economical vehicles to insure for bad credit.
Determining which company quotes the cheapest auto insurance rates for low credit scores will require more time than just comparing rates from one or two companies. Every auto insurer uses a slightly different approach for determining rates in each state, so we need to take a look at the most budget-friendly auto insurance companies in Denver, CO.
Cheapest Insurance Rates in Colorado
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,640|
|Find Cheaper Rates Go|
The Hartford may have some of the best car insurance rates in Denver at around $859 a year. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also qualify as some of the best Denver, CO insurance companies.
As illustrated above, if you are a policyholder with USAA and switched to The Hartford, you may realize an annual premium reduction of approximately $180. Customers with Nationwide could save as much as $250 a year, and GEICO policyholders might reduce prices by as much as $317 a year.
To find out how your current rates compare, click here to start a quote or click several companies below for low rates.
Remember that these prices are averaged across all types of drivers and the different vehicles they drive and do not factor in an exact location for low credit scores. So the auto insurance company that is best suited for you may not even be in the top 21 companies in the list above. That points out the importance of why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
How to find a good Denver auto insurance company
Finding the highest-rated insurance provider can be a challenge considering how many companies there are in Colorado. The company information in the lists below can help you pick which auto insurance companies you want to consider shopping your coverage with. The rankings below are only made up of companies who write in the majority of U.S. states, so companies that focus mainly on Colorado business are not included in this list.
Top 10 Large Auto Insurance Companies in Denver Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Progressive – A+
- Titan Insurance – A+
- The Hartford – A+
Top 10 Large Auto Insurance Companies in Denver Ranked by Customer Service
- State Farm
- The Hartford
- The General
- AAA Insurance
- American Family
The chart below shows how choosing a deductible can increase or decrease insurance costs when researching cheap insurance for low credit scores. The price estimates are based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.
The chart above illustrates that a 40-year-old driver could lower rates by $280 a year by changing from a $100 deductible to a $500 deductible, or save $422 by switching to a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, can cut as much as $706 or even more by choosing larger deductibles on their policy.
When raising deductibles, it is a good idea to have enough savings set aside to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Who has the cheapest Denver car insurance?
Denver, CO auto insurance rates are calculated based on many things that will increase or decrease the cost of coverage. Turning one year older, buying a home, or getting caught speeding can cause premium changes resulting in some companies being more affordable than the competition.
Not only may your risk profile change, but insurance companies modify pricing without warning in order to protect their financial rating. An unexpected high level of claims may cause price increases, while less frequent claims may cause more affordable Denver car insurance rates.
To help illustrate this point, the bar chart below demonstrates which company has the cheapest car insurance in Denver, CO for a 35-year-old female driver with no prior claims, no tickets, and a high credit rating. If we estimate prices based on her current rating profile, The Hartford might quote the cheapest car insurance rates in Denver at $1,114 annually. This is $464 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are also on the list of the cheapest Denver, CO auto insurance companies.
The chart below compares rates after we give the driver in the first chart an at-fault accident, slightly worse credit, and a few blemishes on her driving record. Due to the fact that every auto insurer has a proprietary formula to establish rates, comparing prices may now result in a significantly different list of the cheapest companies as shown below.
Travelers now has the cheapest auto insurance in Denver with State Farm, American Family, Grange, and Progressive also being competitive. This example shows why it is critical to perform a complete rate comparison when trying to get affordable car insurance rates for low credit scores. Insurance rates are determined by many different factors and change substantially, so the most economical company the last time you checked may now be wasting a lot of money.