You have probably seen the captivating commercials from companies like Nationwide, Liberty Mutual, and State Farm that make claims of dirt cheap rates, so you should just choose the one with the best commercial, right?
It’s just not that easy, however, as there are a whole bunch of unknown factors like your annual mileage driven, if you need full coverage or liability-only, if you have a lapse in coverage, and if you are a man or woman, that all go into determining the rate you pay. We will touch on the best ways to maintain low rates and will hopefully give you a good start in finding the cheapest car insurance.
The car, truck, or SUV requiring insurance is one of the largest considerations that determines whether or not you find the best cheap insurance for a learners permit. Vehicles with lower acceleration and performance, a plethora of safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models. The table below illustrates coverage costs for a selection of the most economical automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$5,711|
|Ford Escape Limited 4WD||$6,142|
|Honda Odyssey LX||$6,343|
|Ford F-150 XLT Super Cab 2WD||$6,402|
|Volkswagen Jetta SE 2.5 Station Wagon||$6,577|
|Chevrolet Malibu LS||$6,775|
|Toyota RAV4 2WD||$6,782|
|Chevrolet Impala LT||$6,775|
|Nissan Altima 2.5 4-Dr Sedan||$6,785|
|Chevrolet Equinox LS 2WD||$6,775|
|Dodge Grand Caravan Hero||$6,780|
|Ford Explorer Limited 4WD||$6,837|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$6,846|
|Ford Focus SEL 4-Dr Sedan||$7,089|
|Toyota Camry XLE||$7,148|
|Toyota Corolla XLE||$7,158|
|Ford Edge Limited AWD||$7,148|
|Hyundai Elantra GLS 4-Dr Sedan||$7,156|
|GMC Sierra 2500HD SLE Regular Cab 4WD||$7,209|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$7,219|
|Ford Fusion SEL 4-Dr Sedan||$7,209|
|GMC Sierra SLE Crew Cab 2WD||$7,214|
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Table data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in specific location which can impact premium rates noticeably.
Based upon the table data, you can infer that makes and models like the Honda CR-V, Ford Escape, Toyota Prius, Honda Odyssey, and Ford F-150 are most likely to be some of the cheapest vehicles to insure for new drivers. Car insurance rates will be more costly because there is more liability exposure for a learners permit, but overall those models will probably have the cheapest rates compared to other types of vehicles.
Comparing rates for budget insurance is not the easiest thing to do, and figuring out which company quotes the cheapest auto insurance rates for a learners permit may require even more rate comparisons. Each auto insurance company has a unique formula for setting rates, so let’s begin by examining the most competitive auto insurance companies in Denver.
It’s important to understand that Denver auto insurance rates are based on many factors that may substantially change the policy premium. This price fluctuation is why it is important to compare many different companies when trying to find the most economical auto insurance quotes for a learners permit. Insurance prices can be altered by many different factors and can change substantially, so the most economical company when you last compared rates may now cost much more than other companies.
Best Cheap Insurance Rates in Colorado
The Hartford has some of the lowest car insurance rates in Denver at around $834 per year. Grange, USAA, GEICO, and Nationwide would also be considered some of the most economical Denver, CO car insurance companies.
In the above example, if you currently have a policy with Grange and switched to The Hartford, you could see annual savings of in the vicinity of $153. Colorado drivers with USAA may save as much as $165 a year, and GEICO customers might lower prices by up to $307 a year.
It’s important to note that these premiums are averages across all drivers and vehicles in Colorado and do not take into consideration an exact location for a learners permit. So the company that fits your age and vehicle best may not even be in the top 21 companies shown above. That affirms the importance of why you need to quote rates from many companies using your own individual information.
For new drivers, one of the more important considerations that determine insurance cost is your address. Areas with increased crime or more people tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.
The illustration below lists the highest-priced places in Colorado for a learners permit to buy an auto insurance policy in. Denver is ranked at #2 with an annual premium of $1,439 for the average insured, which is about $120 monthly.
|Rank||City||Premium Per Year|
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Premium costs are estimated as the specific zip code location can increase or decrease rates significantly.
Picking a good quality auto insurance provider can be a challenge considering how many choices you have in Denver. The company ratings shown next can help you select which companies you want to consider purchasing a policy from. The ratings below only include companies that write coverage in many states, so companies that may only write in Colorado are not included in these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Get discount Denver insurance
Insurers that offer coverage for a learners permit may also provide premium discounts that can lower rates by 30% or more if you are eligible for them. Large auto insurance companies and some of their more popular discounts are outlined below.
- Progressive offers discounts including online signing, good student, multi-vehicle, online quote discount, and homeowner.
- SAFECO may offer discounts for anti-lock brakes, accident prevention training, multi-car, teen safe driver, homeowner, teen safety rewards, and drive less.
- American Family offers discounts for Steer into Savings, multi-vehicle, good student, defensive driver, and early bird.
- MetLife may have discounts that include multi-policy, defensive driver, good driver, good student, and claim-free.
- GEICO has discounts for multi-policy, driver training, five-year accident-free, federal employee, air bags, emergency military deployment, and defensive driver.
- The Hartford discounts include driver training, bundle, vehicle fuel type, good student, air bag, defensive driver, and anti-theft.
The diagram below illustrates the comparison of insurance premiums with and without discounts applied to the policy premium. The rates are based on a male driver, no claims, a clean driving record, Colorado state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with anti-theft, good student, passive restraint, paperless filing, paid-in-full, and vehicle safety discounts applied. In this example, theaverage amount saved on auto insurance for a learners permit is 28% or $587.
You may be paying too much for car insurance
Denver, CO auto insurance rates are based on many factors that may substantially change the policy premium. Simply getting older, increasing deductibles, or getting a couple of tickets can trigger price changes resulting in some rates now being more affordable than others. Also, insurance companies amend pricing every year in order to offset underwriting gains or losses. Unexpectedly high claims can result in additional price hikes, while a lower level of claims may result in lower-cost Denver car insurance rates.
To illustrate this example, the chart below shows rates for the cheapest car insurance in Denver, CO for a 35-year-old female driver with no violations or accidents, and a good credit rating. When comparing rates based on her personal profile, The Hartford offers the lowest car insurance rates in Denver at $1,106 each year. This is $472 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are the remainder of the cheapest Denver, CO auto insurance companies.
In this example, we will give the driver in the first chart an accident surcharge, poor credit, and a speeding citation. Since each auto insurer uses their own calculation for determining rates, comparing prices could now result in a slightly different list of affordable Denver car insurance companies as shown below.
Travelers now has the lowest price on auto insurance in Denver, CO with State Farm, American Family, Amica, and USAA now being in the top five. This example proves why it is crucial to perform an extensive rate comparison when trying to get the most budget-friendly insurance rates for a learners permit. Auto insurance prices are calculated by many different factors and can change substantially, so the best price the last time you shopped your coverage around may now be one of the more expensive options.
How to find the cheapest auto insurance for a learners permit
It is possible to find better rates, and here are some penny-pinching solutions that can help Denver drivers locate lower-cost coverage.
- Avoid preventable accidents
- Remove physical damage coverage on older vehicles
- Get cheaper liability coverage by choosing a safer vehicle
- Try paying for small claims out-of-pocket
- Buying your home and auto policies from the same company can earn a discount
- Violations and traffic tickets increase rates
- Compare price quotes at least once a year
The final tip is incredibly important, as we discussed in the prior information. Auto insurance prices change frequently, so don’t be afraid to buy a different policy if a cheaper rate is available.
Having a favorite company is fine, but we do not recommend it if that devotion results in you overpaying major coinage every year. It takes less than five minutes to shop around and find cheaper car insurance for a learners permit in Denver.
The Denver car insurance agencies listed below can most likely help you decide which is the best policy, since some drivers aren’t sure which coverage they need and prefer to have some advice when trying to find lower insurance rates for a learners permit. It can be time-consuming to find the best policy on your own, so getting advice from a licensed agent can provide comfort knowing your coverage gives you decent coverage if you have a claim.
To find an agent near you, click the button after the list.
- Bao Ngoc Nguyen – State Farm Insurance Agent
1699 S Federal Blvd b – Denver, CO 80219 – (303) 975-1100
- Lori Rickert State Farm®
714 S Pearl St – Denver, CO 80209 – (303) 757-7440
- Joe Adams – State Farm Insurance Agent
4110 8th Ave – Denver, CO 80220 – (303) 388-4949