One of the many considerations that are looked at to determine auto insurance rates is where you keep your car in Denver. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas areas with less congestion get the luxury of paying less.
The next table shows the most costly cities in Colorado for real estate agents to buy car insurance in. Denver comes in at #3 with an annual rate of $1,397 for the average policyholder, which is approximately $116 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Aurora | $1,417 |
| 3 | Denver | $1,397 |
| 4 | Lakewood | $1,365 |
| 5 | Commerce City | $1,354 |
| 6 | Colorado Springs | $1,316 |
| 7 | Arvada | $1,308 |
| 8 | Centennial | $1,304 |
| 9 | Security-Widefield | $1,304 |
| 10 | Northglenn | $1,290 |
| 11 | Ken Caryl | $1,287 |
| 12 | Thornton | $1,281 |
| 13 | Highlands Ranch | $1,279 |
| 14 | Westminster | $1,272 |
| 15 | Parker | $1,270 |
| 16 | Littleton | $1,267 |
| 17 | Castle Rock | $1,261 |
| 18 | Brighton | $1,247 |
| 19 | Longmont | $1,179 |
| 20 | Boulder | $1,171 |
| 21 | Broomfield | $1,167 |
| 22 | Greeley | $1,144 |
| 23 | Grand Junction | $1,132 |
| 24 | Fort Collins | $1,100 |
| 25 | Loveland | $1,063 |
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Rate quotes are estimated as the specific zip code location can influence price quotes substantially.
Finding out which companies have the cheapest auto insurance rates for real estate agents may require more time in order to find a policy that fits your budget. Each auto insurance company has their own unique process to determine premium rates, so we will examine the lowest cost auto insurance companies in Colorado.
Best Insurance Companies for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $859 |
| 2 | Grange | $978 |
| 3 | USAA | $1,009 |
| 4 | Nationwide | $1,155 |
| 5 | Auto-Owners | $1,168 |
| 6 | Travelers | $1,171 |
| 7 | GEICO | $1,176 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,362 |
| 11 | Amica | $1,394 |
| 12 | Allied | $1,439 |
| 13 | California Casualty | $1,488 |
| 14 | Colorado Farm Bureau | $1,576 |
| 15 | Farmers | $1,581 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,055 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,738 |
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The Hartford may have some of the cheapest car insurance rates in Denver at around $859 per year. This is $719 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also some of the lowest-priced Denver, CO insurance companies.
In this example, if you currently have a policy with Grange and switched to The Hartford, you could earn a yearly savings of roughly $119. Customers with USAA might save as much as $150 a year, and Nationwide customers might lower prices by up to $296 a year.
Bear in mind that those rates are averaged across all types of drivers and the different vehicles they drive and and are not calculated with an exact location for real estate agents. So the auto insurance company that fits your situation best may not even be in the top 21 companies shown above. That is why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
Impact of careless driving on Denver auto insurance rates
The recommended way to find the best auto insurance rates for realtors is to be a good driver and avoid accidents and traffic citations. The chart below shows how traffic citations and accident claims increase insurance prices for different categories of driver ages. The rates are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of an auto insurance policy in Denver per year with no accidents and a clean driving record is $2,102. Get one speeding ticket and the average cost swells to $2,385, an increase of $282 each year. Then add in two accidents along with the one speeding ticket and the yearly cost of auto insurance for real estate agents increases to an average of $4,939. That’s an increase of $2,837, or $236 per month, just for being a careless driver!
The diagram below illustrates how your choice of deductibles can increase or decrease insurance costs when searching for cheap insurance for real estate agents. Data assumes a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
In the chart above, a 50-year-old driver could cut expenses by $330 a year by switching from a $100 deductible up to a $500 deductible, or save $498 by choosing a $1,000 deductible. Even younger drivers, such as the Age 20 example, could potentially save up to $1,110 annually by choosing a larger deductible amount. When using a larger deductible, it is important to have enough funds in savings to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Your low-price policy may be costing you money
Denver auto insurance rates are influenced by many factors that will increase or decrease the cost of coverage. Improving your credit rating, having a claim, or getting a few speeding tickets may prompt premium changes that may make certain companies more affordable than competitors.
In addition, companies change rates as often as every three months in order to remain profitable. An extended period of higher than normal claims can result in additional price hikes, while a better claims history may produce more affordable Denver car insurance rates.
To illustrate this example, the chart below shows the cheapest car insurance in Denver, CO for a 40-year-old female driver with a clean driving record, no accidents, and good financial standing. If we look at prices based on her current situation, The Hartford offers the most affordable car insurance rates in Denver at $1,080 annually. This is $498 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are the rest of the best Denver, CO auto insurance companies.
The next chart shows rates after we give the driver from the above example an accident claim, bad credit, and a traffic citation. Because every insurance company has a different process for filing rates in each state, analyzing rate quotes could now result in a significantly different list of companies as shown below.
Travelers now has the cheapest auto insurance in Denver with State Farm, American Family, Progressive, and Grange now rounding out the top five. This example shows why it is crucial to compare many different companies when trying to find the cheapest car insurance rates for real estate agents. Car insurance prices consist of many different factors and can increase or decrease at any time, so the most affordable company when you bought your policy may now be costing you a lot of money.