For new drivers, one of the more important things that are looked at to determine the price you pay for insurance is where you keep your car in Denver. Larger areas tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the benefit of cheaper car insurance.
The next table shows the most expensive cities in Colorado for 16 year olds to buy auto insurance in. Denver is listed at #3 with an annual rate of $1,383 for the average policy, which is around $115 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Aurora | $1,403 |
| 3 | Denver | $1,383 |
| 4 | Commerce City | $1,354 |
| 5 | Security-Widefield | $1,343 |
| 6 | Northglenn | $1,329 |
| 7 | Lakewood | $1,324 |
| 8 | Thornton | $1,320 |
| 9 | Ken Caryl | $1,313 |
| 10 | Centennial | $1,304 |
| 11 | Colorado Springs | $1,290 |
| 12 | Brighton | $1,273 |
| 13 | Highlands Ranch | $1,267 |
| 14 | Littleton | $1,267 |
| 15 | Castle Rock | $1,261 |
| 16 | Arvada | $1,256 |
| 17 | Westminster | $1,234 |
| 18 | Parker | $1,233 |
| 19 | Longmont | $1,168 |
| 20 | Broomfield | $1,167 |
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Premium amounts are comparative as specific location information can lower or raise rates noticeably.
The vehicle model on the policy is one of the largest factors when trying to find cheap insurance for 16 year olds. Vehicles with economical engines, a plethora of safety features, or low incidents of liability claims will cost substantially less to insure than adrenaline junky models. The table below estimates auto insurance premiums for the most cost-effective automobiles to insure in Colorado.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $6,218 |
| Honda CR-V EX 4WD | $6,280 |
| Ford Escape XLT 4WD | $6,289 |
| Hyundai Elantra SE Touring Station Wagon | $6,659 |
| Toyota Prius | $6,718 |
| Ford Explorer XLT 4WD | $6,998 |
| Ford Focus SE 4-Dr Sedan | $7,316 |
| Chevrolet Impala LT | $7,377 |
| Toyota RAV4 4WD | $7,384 |
| Chevrolet Silverado LT Extended Cab 4WD | $7,377 |
| Dodge Grand Caravan SXT | $7,436 |
| Toyota Tacoma Double Cab 4WD | $7,442 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $7,749 |
| Honda Odyssey EX-L W/Navigation | $7,759 |
| Ford Edge Sport 2WD | $7,765 |
| Toyota Corolla XRS | $7,818 |
| Volkswagen Jetta SE 4-Dr Sedan | $7,828 |
| Jeep Grand Cherokee Limited 4WD | $7,818 |
| Chevrolet Equinox LTZ AWD | $7,828 |
| Ford Fusion SEL 4-Dr Sedan | $7,818 |
| GMC Sierra SLE Regular Cab 4WD | $7,828 |
| Chevrolet Malibu LTZ | $7,818 |
| Ford F-150 Lariat Crew Cab Platinum 2WD | $7,827 |
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Above prices assume single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in specific garaging location which can revise premium rates significantly.
Based upon the table data, we can conclude that cars like the Honda Accord, Honda CR-V, Ford Escape, Hyundai Elantra, and Toyota Prius should be the most budget-friendly vehicles to insure for new drivers. Rates will trend higher just due to the fact that there is more exposure for 16 year olds, but generally speaking those particular models will tend to have the lowest insurance prices available.
Determining which company has the cheapest insurance rates for 16 year olds requires a little more effort in order to find the most economical policy.
Each auto insurer has a different process to set policy rates, so let’s take a look at the insurance companies that tend to be cheaper in Denver.
Find Cheaper Auto Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $859 |
| 2 | Grange | $949 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,143 |
| 5 | GEICO | $1,176 |
| 6 | Auto-Owners | $1,192 |
| 7 | Travelers | $1,207 |
| 8 | State Farm | $1,209 |
| 9 | American Family | $1,301 |
| 10 | Amica | $1,340 |
| 11 | Progressive | $1,362 |
| 12 | Allied | $1,497 |
| 13 | California Casualty | $1,502 |
| 14 | Farmers | $1,613 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,630 |
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The Hartford normally has some of the best car insurance rates in Denver at around $859 per year. Grange, USAA, Nationwide, and GEICO also are some of the most economical Denver, CO insurance companies.
In the above example, if you currently buy coverage from Nationwide and switched to The Hartford, you might see savings of roughly $284. Policyholders with GEICO could save as much as $317 a year, and Auto-Owners customers might reduce rates by $333 a year.
Be aware that those premiums are averages for all types of insureds and vehicles and do not take into consideration a specific location for 16 year olds. So the company that can offer the best rates for your situation may not even be in the top 21 companies shown above. That illustrates why you need to get rate quotes using your own driver and vehicle profiles.
How to find a good Denver insurance company
Insuring your vehicle with a high-quality car insurance provider is hard considering how many companies there are in Colorado. The company ratings below could help you select which providers to look at when shopping around. These ratings only include companies with a nationwide focus, so companies without a large exposure are not included in the list.
Top 10 Large Auto Insurance Companies Overall in Denver
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Allstate
How careless driving impacts Denver insurance rates
The easiest way to earn the most affordable insurance premiums in Denver for new drivers is to be a safe driver and avoid accidents and keep your driving record clean. The diagram below shows how traffic citations and accidents increase car insurance rates for different insured age categories. The rates are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.
The data above shows the average cost of car insurance in Denver per year with no accidents or violations is $2,098. Factor in two speeding tickets and the average cost jumps to $2,901, an increase of $803 each year. Then add two accidents along with the two speeding tickets and the 12-month cost of insurance for 16 year olds increases to an average of $5,888. That’s an increase of $3,790, or $316 per month, just for not driving safely!
Why you are probably overpaying for car insurance
Colorado insurance rates are influenced by many factors which can substantially decrease or increase the price of coverage. Simply improving your credit, buying another vehicle, or getting a reckless driving citation can cause premium changes that may make certain companies more affordable than others. And not only may your rating factors change, but insurers change prices at least once a year to reflect underwriting profits or losses. An extended period of higher than normal claims may cause additional premium costs, while long-term profits can result in more affordable Denver car insurance rates.
To illustrate this point, the chart below shows which companies have the cheapest car insurance in Denver, CO for a 40-year-old male driver with a clear driving record, no claims, and a good credit history. If we compare prices based on his current rating profile, The Hartford may have the most affordable car insurance rates in Denver at $1,113 annually. This is $465 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the best Denver, CO auto insurance companies.
The chart below compares rates after we give the driver from the above example a couple of claims, a lower credit rating, and a few traffic violations. Due to the fact that every insurance company has a proprietary method for filing rates in each state, comparing quotes will most likely result in a different list of the cheapest car insurance companies in Denver as shown below.
Travelers now has the lowest price on auto insurance in Denver with State Farm, American Family, Amica, and Progressive also having competitive pricing. This demonstrates why drivers need to compare many different companies when trying to get the most economical car insurance quotes for 16 year olds. Insurance rates can be determined by many things and change substantially, so the cheapest rate six months ago may now be wasting a lot of money.