I’m sure you’ve seen the captivating commercials from auto insurance companies like Liberty Mutual, Progressive, and State Farm that make promises of big savings. So you should just pick the company with the cutest commercial, right?
It’s just not that easy, however, as there are a lot of unknowns such as how safe your vehicle is, what deductibles to use for physical damage coverage, and if you are married, that all have an effect on the price. We are going to cover the best ways to compare rates and will give you a good beginning to your quest for cheaper car insurance in Denver.
For teenage drivers, one of the big considerations that are looked at to help calculate the cost of insurance is your zip code in Denver. Cities with larger populations will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims have the luxury of cheap car insurance rates.
The illustration below ranks the highest-priced areas in Colorado for 19 year olds in which to purchase auto insurance. Denver is ranked #3 with an annual rate of $1,397 on average, which is approximately $116 each month.
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Rate quotes are estimated as the specific geographic location can change prices considerably.
The vehicle driven is probably the largest consideration when shopping around for affordable auto insurance for 19 year olds. Vehicles with more horsepower, a lack of safety features, or a track record of large liability claims will cost quite a bit more to insure than more economical and safe models. The next list shows auto insurance costs for some of the most budget-friendly vehicles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape Limited 2WD||$4,253|
|Honda CR-V EX 4WD||$4,260|
|Honda Accord EX-L 4-Dr Sedan||$4,548|
|Volkswagen Jetta 2.0T Station Wagon||$4,896|
|Toyota Tacoma 2WD||$4,939|
|Ford Focus S 4-Dr Sedan||$4,944|
|Ford Edge SEL 2WD||$4,939|
|Chevrolet Malibu Hybrid||$4,988|
|Chevrolet Impala LT||$4,997|
|Toyota RAV4 Limited 2WD||$4,988|
|Dodge Grand Caravan Hero||$4,995|
|Ford F-150 Lariat Crew Cab 2WD||$5,039|
|Ford Explorer Eddie Bauer AWD||$5,048|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$5,039|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$5,133|
|Honda Civic VP 4-Dr Sedan||$5,236|
|Hyundai Elantra SE 4-Dr Sedan||$5,284|
|Toyota Camry SE||$5,289|
|Ford Fusion SE 4-Dr Sedan||$5,336|
|Honda Odyssey Touring||$5,346|
|GMC Sierra SLE Crew Cab 4WD||$5,336|
|Jeep Grand Cherokee SRT-8 4WD||$5,346|
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Data assumes single female driver age 19, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in the specific area where the vehicle is garaged which can decrease or increase auto insurance rates noticeably.
Looking at the numbers, we can assume that vehicles like the Ford Escape, Honda CR-V, Honda Accord, Toyota Prius, and Volkswagen Jetta should be the more affordable vehicles to insure for teenage drivers. The price of auto insurance will be higher anyway just due to the fact that there is more inherent risk for 19 year olds, but in general those specific models will have the best insurance prices available.
Get discount Denver car insurance rates
Insurance providers that sell policies for 19 year olds may also give you policy discounts that could potentially reduce rates by 40% or more if you are eligible for them. Popular insurance companies and a partial list of their discounts include:
- State Farm includes discounts for good driver, passive restraint, Steer Clear safe driver discount, driver’s education, defensive driving training, accident-free, and multiple autos.
- American Family discounts include early bird, good student, bundled insurance, multi-vehicle, Steer into Savings, accident-free, and air bags.
- GEICO may offer discounts for military active duty, good student, driver training, federal employee, seat belt use, and anti-theft.
- 21st Century may include discounts for anti-lock brakes, good student, early bird, homeowners, and teen driver.
- Progressive policyholders can earn discounts including homeowner, online signing, multi-policy, multi-vehicle, and good student.
The chart below compares car insurance rates with and without discounts applied to the policy premium. The data assumes a female driver, no tickets, no at-fault accidents, 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 shows the rates with anti-theft, multiple policy, multiple vehicle, defensive driving course, passive restraint, and marriage discounts applied. When discounts are factored in, theaverage amount saved on insurance for 19 year olds is 28% or $631.
Selecting a high-quality insurer is difficult considering how many different companies sell coverage in Denver. The ranking information listed below can help you choose which auto insurers you want to consider when trying find the best insurance for 19 year olds. These ratings are only made up of companies with a nationwide focus, so companies that only write business in Colorado or surrounding areas are not included in the list.
|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
Driving violations and accidents
In a perfect world, the best way to snag the cheapest insurance premiums in Colorado for teenage drivers is to drive safe and avoid at-fault accidents and violations. The illustration below shows how speeding tickets and at-fault collisions can influence insurance rates for different insured age categories. The data is based on a married female driver, comp and collision included, $250 deductibles, and no discounts are applied to the premium.
In the previous example, the average cost of a car insurance policy per year with no accidents or violations is $1,423. Add in one speeding ticket and the average cost increases to $1,657, an increase of $234 each year. Now include one accident along with the one speeding ticket and the 12-month cost of insurance for 19 year olds jumps again to an average of $2,309. That’s an increase of $886, or $74 per month, just for being a careless driver!
A good deal can quickly turn bad
Denver insurance rates are impacted by many factors which can substantially change the cost of coverage. Simply turning a year older, buying a home instead of renting, or getting a driving violation may cause policy rate changes resulting in some companies being more affordable than the competition. Not only may your situation change, but insurers change premium rates multiple times each year to adjust for heavy claims or excess profits. Higher than normal claim frequency or severity can result in additional price hikes, while lower claims can result in lower-priced Denver car insurance rates.
For example, the bar chart below compares the cheapest car insurance in Denver, CO for a 30-year-old female driver with no prior claims, no tickets, and good financial standing. Based on her current situation, The Hartford may offer the lowest car insurance rates in Denver at $1,159 a year. This is $419 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are the rest of the cheapest Denver, CO auto insurance companies.
Now we will pretend the driver from the above example an accident claim, a little lower credit rating, and a blemish on her driving record. Since each auto insurer has their own unique process to set policy rates, comparing prices may result in a different set of companies as shown below.
Travelers now has the lowest price on auto insurance in Denver with State Farm, American Family, Progressive, and Grange now being in the top five. This example illustrates why drivers need to take the time to shop around when trying to find cheap auto insurance rates for 19 year olds. Auto insurance prices are impacted by many things and can decrease or increase without notice, so the lowest-price company six months ago may now be quite expensive.