In an ideal world, we could simply give you the name of the one company in Denver that has the best deal on coverage in Colorado. It’s just not that simple, as there are a whole bunch of unknown factors such as your driving record, if you are a homeowner or renter, and if you are married. We will touch on the best ways to avoid overpriced car insurance and should give you a jump start in finding the best auto insurance in Denver.
Establishing which company quotes the cheapest auto insurance rates for homeowners will require a little more work in order to find the most economical policy. Every car insurance company has a proprietary method for establishing rates, so let’s take a look at the lowest cost auto insurance companies in Colorado.
It’s a good idea to be aware that Denver auto insurance rates are calculated based on many things that may substantially change the cost of having a policy. Turning one year older, buying higher coverage limits, or getting a ticket for careless driving can trigger changes in premium that may make certain companies cheaper than competitors.
Find Cheaper Auto Insurance for Homeowners
The Hartford may offer some of the lowest car insurance rates in Denver at around $850 each year. This is $728 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO would also make the list of some of the more affordable Denver, CO auto insurance companies.
In this example, if you are currently insured with Nationwide and switched to Grange, you might realize an annual savings of in the vicinity of $143. Insureds with GEICO might save as much as $163 a year, and Travelers insureds might lower prices by up to $193 a year.
Bear in mind that those premiums are averages across all types of insureds and vehicles and and are not calculated with an exact zip code location for homeowners. So the auto insurance company that is most affordable for your situation may not even be in the top 21 companies in the list above. That’s why you need to get auto insurance quotes using your own personal information and vehicle type.
The vehicle you are insuring is probably the most important factor when trying to find economical auto insurance for homeowners. Vehicles with high performance engines, poor safety features, or an increased likelihood of liability claims will cost more to insure than safer models.
The next list illustrates auto insurance costs for a handful of the most affordable vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford F-150 XLT Regular Cab 2WD | $1,495 |
| Toyota Prius | $1,503 |
| Hyundai Elantra GLS Touring Station Wagon | $1,553 |
| Ford Escape XLS 2WD | $1,563 |
| Toyota Tacoma 2WD | $1,577 |
| Honda CR-V EX 4WD | $1,588 |
| Ford Fusion S 4-Dr Sedan | $1,609 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,662 |
| Ford Edge Limited AWD | $1,693 |
| Chevrolet Impala LTZ | $1,698 |
| Honda Civic Hybrid 4-Dr Sedan | $1,722 |
| Honda Odyssey Touring | $1,728 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,722 |
| Ford Focus SE 4-Dr Sedan | $1,807 |
| Chevrolet Silverado Crew Cab Hybrid 2WD | $1,813 |
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Information does not factor in garaging location in Denver, CO which can increase or decrease rates greatly.
Based on these rates, we can infer that models like the Ford F-150, Toyota Prius, Hyundai Elantra, and Ford Escape are most likely going to be the more affordable vehicles to insure for people who own their homes.
One of the more important things that are looked at to help calculate the cost of insurance is where you choose to live in Denver. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The next table sorts the most expensive areas in Colorado for homeowners to buy an auto insurance policy in. Denver shows up at #3 with a yearly premium of $1,397 for the average insurance policy, which is about $116 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Aurora | $1,403 |
| 3 | Denver | $1,397 |
| 4 | Lakewood | $1,378 |
| 5 | Commerce City | $1,354 |
| 6 | Ken Caryl | $1,326 |
| 7 | Arvada | $1,308 |
| 8 | Thornton | $1,307 |
| 9 | Littleton | $1,306 |
| 10 | Centennial | $1,304 |
| 11 | Security-Widefield | $1,291 |
| 12 | Colorado Springs | $1,290 |
| 13 | Northglenn | $1,290 |
| 14 | Brighton | $1,285 |
| 15 | Highlands Ranch | $1,279 |
| 16 | Parker | $1,257 |
| 17 | Castle Rock | $1,248 |
| 18 | Westminster | $1,246 |
| 19 | Longmont | $1,179 |
| 20 | Boulder | $1,171 |
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Prices are approximated as zip code location can modify auto insurance rates considerably.
Choosing a highly-rated car insurance provider can be rather challenging considering how many companies are available to choose from in Colorado. The ranking data shown next may help you pick which coverage providers you want to consider when shopping car insurance rates for homeowners. These rankings are only made up of the largest companies in the United States, so smaller companies will not be included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
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Data Source: Insure.com Best Car Insurance Companies
Discounts on Denver auto insurance rates
Insurance providers that provide coverage for homeowners may provide discounts that may potentially lower prices by 30% or more if you meet certain criteria. Companies and the discounts they provide are outlined below.
- State Farm offers discounts for multiple policy, driver’s education, student away at school, multiple autos, and good student.
- Farmers Insurance offers premium reductions for teen driver, bundle discounts, multi-car, switch companies, and business and professional.
- Progressive has savings for homeowner, continuous coverage, multi-vehicle, multi-policy, online quote discount, and good student.
- GEICO discounts include good student, membership and employees, anti-lock brakes, air bags, and daytime running lights.
- Auto-Owners Insurance offers discounts including multi-policy, anti-theft, mature driver, paid in full, and anti-lock brakes.
- The Hartford policyholders can earn discounts including good student, bundle, vehicle fuel type, anti-theft, air bag, driver training, and defensive driver.
- Farm Bureau has discounts for 55 and retired, safe driver, multi-vehicle, youthful driver, and good student.
- USAA may include discounts for vehicle storage, new vehicle, defensive driver, multi-policy, family discount, safe driver, and driver training.
The example below visualizes the comparison of yearly insurance costs with and without some available policy discounts. The premiums are based on a female driver, no accidents or driving violations, Colorado state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple vehicle, claim-free, homeowner, multiple policy, vehicle safety, and marriage discounts applied. When discounts are applied, theamount saved on auto insurance for homeowners is 28% or $484.
Are you paying too much for car insurance in Denver?
Colorado auto insurance rates are impacted by many factors which can substantially change the price of your policy. Improving your credit score, having a teenage driver, or getting a reckless driving citation may generate price changes that can cause some rates to be more affordable than others. In addition, insurers amend premium rates without warning in order to be able to pay unexpected claims. A period of higher than normal claims may result in more expensive prices, while less frequent claims can result in more affordable Denver car insurance rates.
For example, the chart below shows the company with the cheapest car insurance in Denver, CO for a 45-year-old female driver with a clean driving record, no accidents, and great credit. If we estimate rates based on her personal profile, The Hartford might offer the cheapest car insurance rates in Denver at $1,103 each year. This is $475 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide round out the rest of the best Denver, CO auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a chargeable claim, a little lower credit rating, and a speeding citation. Due to the fact that each insurance company uses their own method for determining prices, comparing quotes will most likely result in a completely different list of cheap Denver auto insurance companies as shown below.
Travelers now has the cheapest rate in Denver with State Farm, American Family, Progressive, and Amica now rounding out the top five. This example shows why it is so important to perform an extensive rate comparison to get the cheapest insurance rates for homeowners. Insurance rates consist of many factors and can change substantially, so the most economical company the last time you shopped your coverage around may now be one of the more expensive options.