Buying competitive coverage for a Nissan Altima in Colorado depends on a whole bunch of rating criteria such as the safety rating for your Altima, where your vehicle is garaged, and the deductible amount you use. Colorado drivers pay on average $1,249 annually for Altima insurance, but that amount is a projection calculated based on a 30-year-old married female driver with full comprehensive and collision coverage and $100 deductibles.
When estimating a car insurance rate like we just did, the issue is that you may not be 30 years old (or even female), possibly single instead of married, or maybe you’re a renter instead of a homeowner. Having just a slight change in the criteria used to calculate rates could result in a significant change in how much coverage for a Nissan Altima costs.
The different assumptions illustrate why the way we recommend to find the cheapest rates for your Nissan is to put in the effort to do a thorough rate comparison.
The trim level of your Altima will influence the coverage cost, so the price you pay to insure a Altima 2.5 4-Dr Sedan will be $288 less than the insurance cost for the higher-priced Altima 3.5 SR 2-Dr Coupe trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Altima 2.5 4-Dr Sedan||$294||$536||$358||$22||$108||$1,318||$110|
|Altima 2.5 S 4-Dr Sedan||$294||$630||$358||$22||$108||$1,412||$118|
|Altima Hybrid 4-Dr Sedan||$330||$630||$358||$22||$108||$1,448||$121|
|Altima 2.5 S 2-Dr Coupe||$330||$630||$404||$24||$122||$1,510||$126|
|Altima 3.5 SR 4-Dr Sedan||$330||$630||$358||$22||$108||$1,448||$121|
|Altima 3.5 SR 2-Dr Coupe||$330||$726||$404||$24||$122||$1,606||$134|
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rates do not factor in Denver location which can impact premiums considerably.
Insuring your vehicle with the top auto insurance company can be rather challenging considering how many companies there are in Denver. The information shown below could help you select which insurers to look at when shopping car insurance rates for a Nissan Altima. These rankings include large insurance companies, so companies that may only write in Colorado are not taken into consideration for 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
Should you buy full coverage?
Finding the cheapest car insurance should be important to most people, and an effective way to pay lower rates for insurance for a Nissan Altima is to not buy full coverage. The illustration below illustrates the comparison of car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The costs are based on a clean driving record, no claims, $100 deductibles, marital status is single, and no discounts are taken into consideration.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs an extra $2,568 per year over having just liability coverage. That is a big expense that brings up the question if it’s worth it to buy full coverage. There is no set guideline that is best for determining when to drop comp and collision coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
Get discounts on Denver car insurance
Insurers that provide coverage for a Nissan Altima may have rate discounts that could potentially reduce rates by as much as 25% or more if you meet the requirements. Companies and some of their more popular discounts are outlined below.
- State Farm discounts include Steer Clear safe driver discount, Drive Safe & Save, good student, student away at school, accident-free, and passive restraint.
- GEICO may include discounts for defensive driver, daytime running lights, anti-theft, anti-lock brakes, and air bags.
- Liberty Mutual includes discounts for multi-policy, new vehicle discount, new graduate, multi-car, newly married, newly retired, and good student.
- The Hartford has discounts for anti-theft, vehicle fuel type, good student, bundle, and air bag.
- MetLife has savings for defensive driver, multi-policy, claim-free, accident-free, good driver, good student
- Progressive offers premium reductions for homeowner, continuous coverage, multi-policy, multi-vehicle, and good student.
The information below shows the comparison of insurance costs with and without discounts being applied to the rates. The data assumes a female driver, no claims or driving violations, Colorado state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with marriage, claim-free, multiple policy, accident-free, homeowner, and multiple vehicle discounts applied. When drivers qualify for the discounts, the average savings per year on car insurance for a Nissan Altima is 28% or $616.
The example below demonstrates how deductibles can affect yearly insurance costs when trying to find cheap insurance for a Nissan Altima. The premium estimates are based on a married female driver, full physical damage coverage, and no policy discounts are applied.
The chart above illustrates that a 30-year-old driver could lower rates by $388 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $586 by selecting a $1,000 deductible. Young drivers, like the Age 20 chart data, could save up to $828 or more by choosing a higher deductible.
If you do raise deductibles, it’s a good idea to have enough savings to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.