The vehicle model you are buying coverage for is one of the primary factors when consumers are trying to find cheap car insurance for college students. Vehicles with average performance, advanced safety features, or a low likelihood of having liability claims will cost significantly less to insure than adrenaline junky models. The next list estimates auto insurance rates for a selection of the most economical vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$2,990|
|Ford Escape XLS 2WD||$2,996|
|Honda CR-V LX 4WD||$2,990|
|Hyundai Elantra GLS Touring Station Wagon||$2,996|
|Toyota Tacoma 4WD||$3,352|
|Jeep Wrangler Sahara 4WD 2-Dr||$3,357|
|Toyota RAV4 Sport 2WD||$3,545|
|Volkswagen Jetta S 4-Dr Sedan||$3,551|
|Dodge Grand Caravan Hero||$3,545|
|Toyota Camry LE||$3,553|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$3,588|
|Ford Explorer Eddie Bauer AWD||$3,598|
|Ford F-150 FX2 2WD||$3,588|
|Ford Focus SEL 4-Dr Sedan||$3,691|
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Data based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific Denver, CO garaging location which can change auto insurance rates significantly.
By looking at the data, makes and models like the Honda Accord, Ford Escape, Honda CR-V, Hyundai Elantra, and Toyota Prius are going to be the most affordable vehicles to insure for students in college. The price for car insurance will be more expensive just due to the fact that there is more liability exposure for college students, but in general those particular models will most likely have the cheapest rates that you are likely to find.
For students in college, one of the big components that are looked at to help calculate the amount you pay each year for auto insurance is your address in Denver. Regions with more people or even just more weather-related claims will most likely have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of cheap car insurance rates.
The information below shows the most expensive cities in Colorado for college students to purchase a policy in. Denver comes in at #1 with an annual cost of $1,439 on average, which is approximately $120 each month.
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Annual rates are comparative as the vehicle garaging location can affect coverage rates significantly.
Discounts on Denver insurance rates
Auto insurance companies that provide coverage for college students could also offer price discounts that could reduce prices by 25% or more if you are eligible. A list of auto insurance companies and the discounts they provide can be found below.
- Mercury Insurance may offer discounts for low natural disaster claims, multi-car, age of vehicle, annual mileage, location of vehicle, good driver, and professional/association.
- Farmers Insurance offers discounts for teen driver, early shopping, youthful driver, multi-car, pay in full, and alternative fuel.
- Farm Bureau discounts include renewal discount, good student, driver training, multi-vehicle, and youthful driver.
- State Farm may include discounts for safe vehicle, anti-theft, multiple policy, multiple autos, good driver, and good student.
- Allstate offers premium reductions for resident student, farm vehicle, anti-theft, new car, auto/life discount, and senior citizen.
- GEICO offers discounts including daytime running lights, federal employee, five-year accident-free, anti-lock brakes, seat belt use, and air bags.
The chart below shows the comparison of auto insurance rates with and without discounts applied to the policy premium. The data is based on a female driver, no claims or violations, Colorado state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with good student, anti-theft, vehicle safety, paid-in-full, passive restraint, and continuous coverage discounts applied. In this example, theaverage amount saved on auto insurance for college students is 22% or $404.
The example below highlights how deductible selection can impact insurance rates when trying to find cheap insurance for college students. The premiums assume a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
The chart above illustrates that a 50-year-old driver could lower their car insurance rates by $388 a year by changing from a $100 deductible to a $500 deductible, or save $586 by switching to a $1,000 deductible. Younger drivers, like the Age 20 chart data, have the ability to save $990 every year just by using higher deductibles.
If you make the decision to raise deductibles, it will be important to have additional funds in a savings account to allow you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Bad driving habits will cost you more
The best way to snag the best auto insurance prices in Denver for students in college is to drive safe and avoid accidents and traffic citations. The chart below illustrates how violations and accident claims can drive up insurance prices for each age group. The rates are based on a single female driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.
In the previous example, the average cost of auto insurance in Denver per year with no accidents and a clean driving record is $2,340. Get one speeding ticket and the average cost surges to $2,652, an increase of $312 each year. Now add in two accidents along with the one speeding ticket and the annual cost of auto insurance for college students jumps again to an average of $5,376. That’s an increase of $3,036, or $253 per month, just for not driving carefully!
How to find low-cost car insurance for college students
The list below shows some of the better penny-pinching suggestions that can help you buy cheap coverage.
- Being accident-free can lower rates significantly
- Do not pay for full coverage on older vehicles
- Drive vehicles with five-star safety ratings
- Better credit scores save money
- Buying your home and auto policies from the same company can earn a discount
- Compare rates regularly to ensure the best deal
The last idea is extremely significant, as we noted in this write-up. Insurance prices can change in a short period of time, so you should be ready to change insurance companies if a lower-cost policy is available. Being loyal to a particular company is commendable, but it isn’t a good idea if that stubbornness costs you money that could be used for better things. If you have a few minutes, compare prices to find cheaper car insurance for college students in Denver.
If you aren’t sure which coverage you need and prefer to get some professional input when shopping for the best coverage for college students, the agents shown below can most likely aid you in deciding which auto insurance coverages would be the best in your situation. To find a Denver insurance agent nearest to you, click the button following the list or click here to get price quotes now.
American Family Insurance – Abbie Davis Tanner Agency Inc
2855 Speer Blvd Suite D – Denver, CO 80211 – (303) 333-0205
Moody Insurance Agency
8055 E Tufts Ave #1000 – Denver, CO 80237 – (303) 824-6600
Farmers Insurance – James Lundin
1490 N Lafayette St #302b – Denver, CO 80218 – (303) 433-4542
FUSA Insurance Agency
7900 E Union Ave #200 – Denver, CO 80237 – (303) 752-5806