The words “low-cost” and “auto insurance” probably shouldn’t be used together, in particular when you are trying to find the best car insurance rates for high mileage drivers. Let’s get started by showing you a few of the things that have an effect on auto insurance prices, and come up with some ideas to shave a little off your next policy.
For high mileage drivers, one of the big considerations that are looked at to determine the price you pay for insurance is your zip code in Denver. More populated areas tend to pay more, whereas areas with less congestion have the gratification of cheaper auto insurance rates.
The illustration below ranks the most expensive cities in Colorado for high mileage drivers in which to purchase auto insurance. Denver shows up at #3 with an annual cost of $1,383 on average, which is around $115 monthly.
|Rank||City||Premium Per Year|
|Quote Best Rates Go|
Table data uses comparative as the specific zip code location can change premium rates greatly.
The vehicle that needs insurance is one of the main factors when comparing quotes for the most economical coverage for high mileage drivers. Vehicles with higher performance characteristics, poor passenger safety features, or high incidents of liability claims will cost significantly more to insure than safer models. The table below shows insurance rates for a handful of the most cost-effective vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,522|
|Honda CR-V LX 4WD||$1,528|
|Ford Focus SE 4-Dr Sedan||$1,545|
|Chevrolet Impala LS||$1,555|
|Ford Escape XLT 4WD||$1,556|
|Ford F-150 XLT Crew Cab 4WD||$1,606|
|Hyundai Elantra SE Touring Station Wagon||$1,653|
|Nissan Rogue S 2WD||$1,692|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,710|
|Ford Explorer Eddie Bauer 2WD||$1,719|
|Toyota Tacoma 2WD||$1,773|
|Honda Odyssey LX||$1,786|
|Hyundai Sonata Limited 4-Dr Sedan||$1,802|
|Volkswagen Jetta S 4-Dr Sedan||$1,807|
|Dodge Grand Caravan SE||$1,826|
|Dodge Ram Crew Cab Sport 4WD||$1,834|
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Rate quotes do not factor in vehicle location which can revise coverage prices significantly.
Looking at the numbers, cars like the Honda Accord, Honda CR-V, and Ford Focus are going to be some of the most affordable vehicles to insure for high mileage drivers.
Establishing which companies have the lowest-priced insurance rates for high mileage drivers will take a tad more effort than just comparing a company or two. Every insurance provider has their own guidelines for filing rates in each state, so let’s take a look at the insurance companies with the most affordable rates in Colorado.
Compare Cheap Insurance Quotes in Colorado
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,592|
|Find Cheaper Rates Go|
The Hartford normally has some of the most affordable car insurance rates in Denver at around $825 a year. Grange, USAA, Nationwide, and Auto-Owners are also some of the most economical Denver, CO auto insurance companies.
As shown in the table above, if you have coverage with Nationwide and switched to Grange, you might see annual savings of around $151. Insureds with Auto-Owners could save as much as $198 a year, and GEICO customers might lower prices by up to $218 a year.
To compare your rates to other Colorado insurance companies, click here to start your free quote or visit any of the low-priced companies below.
It’s important to note that these premium estimates are averages across all insureds and vehicles and do not factor in a vehicle location for high mileage drivers. So the insurer that has the lowest price for you may not even be in the top 21 companies shown above. That helps illustrate why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
How much more does full coverage cost in Denver?
Reducing the cost of insurance is probably important to most drivers, and one easy way to save on the cost of insurance for high mileage drivers is to only buy liability coverage. The chart below visualizes the comparison of insurance prices with and without full coverage. The premium estimates are based on no claims or driving citations, $100 deductibles, single status, and no discounts are factored in.
Averaged for all ages 20 through 70, physical damage insurance costs an extra $2,013 per year more than buying just liability insurance. Many of you may wonder when is the right time to remove full coverage. There is no written rule of when to drop physical damage coverage, but there is a general school of thought. If the annual cost of having full coverage is more than about 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s settlement value is $10,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $9,000 after paying the physical damage deductible. If you are currently paying more than $900 a year for comprehensive and collision coverage, then it may be the right time to buy liability only.
Bad driving habits will cost you more
In a perfect world, the ideal way to earn the cheapest insurance prices in Colorado for high mileage drivers is to pay attention while driving and avoid at-fault accidents and violations. The diagram below highlights how speeding tickets and at-fault collisions can influence auto insurance costs for different ages of insureds. The premium estimates are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.
The data charted above shows the average cost of auto insurance in Denver per year with a clean driving record and no accidents is $1,667. Get two speeding tickets and the average cost jumps to $2,291, an increase of $624 each year. Next add two accidents along with the two speeding tickets and the yearly cost of insurance for high mileage drivers increases to an average of $4,915. That’s an increase of $3,248, or $271 per month, just for not being more responsible behind the wheel!
How to find a good Denver insurance company
Finding the right auto insurance provider is difficult considering how many companies sell insurance in Denver. The rank data in the next section may help you choose which coverage providers to look at when shopping car insurance rates for high mileage drivers. These rankings include the companies with a significant amount of written premium nationwide, so companies without a large exposure are not factored into the list.
Top 10 Major Auto Insurance Companies in Denver Ranked by Customer Service
- State Farm
- The Hartford
- The General
- AAA Insurance
- American Family
Top 10 Major Auto Insurance Companies in Denver Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
The agents listed below can help you make a decision which coverage meets your needs best, since many consumers aren’t sure which coverage to buy and prefer to have a consultation when buying car insurance for high mileage drivers. It’s not always simple to do it yourself, so a licensed agent can give comfort knowing your coverage gives you sufficient coverage at claim time. To locate an agency nearest to you, click the button at the bottom.
Farmers Insurance Agent Mike
I-25 – Denver, CO 80231 – (303) 752-2900
Moschetti Michael – Isu Insurance Svc Of Co
950 17th St #1000 – Denver, CO 80202 – (303) 534-2133
A Complete Home and Auto Insurance Agency
44 Cook St #100 – Denver, CO 80206 – (303) 650-0060
Beth Bales – State Farm Insurance Agent
3650 S Yosemite St #408 – Denver, CO 80237 – (303) 993-2727