The words “low-cost” and “insurance” really should not be used together, in particular when searching for the lowest insurance rates for safe drivers. Because of the high cost, let’s introduce you to a few of the things that help determine auto insurance rates, and figure out some ideas to reduce the cost of the next policy you buy.
For good drivers, one of the largest things that are used to help calculate the amount you pay each year for auto insurance is where you keep your car in Denver. Areas with high crime rates or more dense population tend to pay more, whereas areas with less people or fewer weather incidents benefit from lower prices.
The information below ranks the most expensive cities in Colorado for safe drivers to purchase auto insurance in. Denver is listed at #3 with the yearly price of $1,397 for the average insured, which is approximately $116 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Aurora | $1,403 |
| 3 | Denver | $1,397 |
| 4 | Lakewood | $1,324 |
| 5 | Thornton | $1,320 |
| 6 | Centennial | $1,317 |
| 7 | Colorado Springs | $1,316 |
| 8 | Commerce City | $1,314 |
| 9 | Ken Caryl | $1,313 |
| 10 | Arvada | $1,308 |
| 11 | Security-Widefield | $1,291 |
| 12 | Northglenn | $1,290 |
| 13 | Brighton | $1,285 |
| 14 | Highlands Ranch | $1,279 |
| 15 | Littleton | $1,267 |
| 16 | Parker | $1,257 |
| 17 | Castle Rock | $1,248 |
| 18 | Westminster | $1,234 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,171 |
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Annual rates are approximated as zip code location can alter premium rates substantially.
Comparing rates for reasonably-priced insurance is hard enough, and finding out which companies offer the best auto insurance rates for safe drivers will involve even more diligence.
Each insurance company has a unique approach for establishing rates, so let’s take a look at the auto insurance companies with the most affordable rates in Colorado. It’s important that you understand Colorado auto insurance rates are impacted by many things that control the price you pay for coverage. This price variation is why it is critical to perform a complete rate comparison to find the most economical auto insurance quotes for safe drivers. Auto insurance prices can be determined by many factors and change substantially, so the most economical option a year ago may now cost much more than other companies.
Lowest Insurance Price Quotes for Safe Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $949 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,143 |
| 5 | Auto-Owners | $1,156 |
| 6 | GEICO | $1,176 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,246 |
| 9 | American Family | $1,301 |
| 10 | Amica | $1,353 |
| 11 | Progressive | $1,362 |
| 12 | Allied | $1,483 |
| 13 | California Casualty | $1,502 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,576 |
| 16 | MetLife | $1,830 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,657 |
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The Hartford may offer some of the best car insurance rates in Denver at around $850 a year. Grange, USAA, Nationwide, and Auto-Owners also rank well as some of the cheaper Denver, CO car insurance companies.
In the rate table above, if you currently have coverage with Auto-Owners and switched to Grange, you could earn annual savings of around $207. Policyholders with GEICO may save as much as $227 a year, and Travelers customers might reduce prices by as much as $270 a year.
Remember that these prices are averaged for all insureds and vehicles and and are not calculated with an exact vehicle garaging location for safe drivers. So the company that has the cheapest price for you may not even be in the top 21 companies in the list above. That helps illustrate why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
The type of vehicle you are seeking coverage for is one of the primary factors when comparing the best insurance for safe drivers. Vehicles with lower acceleration and performance, modern passenger safety features, or low incidents of liability claims will cost significantly less to insure than fast, unsafe models.
The next table showcases insurance prices for a handful of the most cost-effective vehicles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,367 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,534 |
| Ford Explorer Eddie Bauer 2WD | $1,544 |
| Honda CR-V EX 2WD | $1,568 |
| Honda Odyssey EX W/Rear Entertainment | $1,587 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,619 |
| Toyota RAV4 Sport 2WD | $1,624 |
| Volkswagen Jetta S 4-Dr Sedan | $1,619 |
| Jeep Grand Cherokee Laredo 4WD | $1,627 |
| Dodge Grand Caravan Crew | $1,651 |
| Honda Accord EX 4-Dr Sedan | $1,674 |
| Chevrolet Impala LTZ | $1,704 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,709 |
| Toyota Prius | $1,733 |
| Ford F-350 Super Cab Harley Edition 2WD | $1,797 |
| Ford Edge Limited 2WD | $1,818 |
| Toyota Camry Hybrid | $1,852 |
| Chevrolet Equinox LS 2WD | $1,857 |
| Dodge Ram Crew Cab Laramie 2WD | $1,881 |
| Toyota Tacoma Double Cab 4WD | $1,887 |
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Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in vehicle location which can impact insurance rates noticeably.
By looking at the data, we can tell that vehicles like the Ford Escape, Jeep Wrangler, and Ford Explorer are likely to be some of the most affordable vehicles to insure for good drivers.
Rate increases following a ticket or accident
In a perfect world, the best way to get low auto insurance rates in Colorado for good drivers is to drive cautiously and avoid traffic citations and accidents. The example below shows how traffic citations and at-fault claims raise insurance costs for each different age group. The data is based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $2,296. Factor in two speeding tickets and the average cost swells to $3,182, an increase of $886 each year. Then include one accident along with the two speeding tickets and the 12-month cost of auto insurance for safe drivers increases to an average of $4,090. That’s an increase of $1,794, or $150 per month, just for not being attentive to the road!
Get discounts on Denver insurance
Car insurance companies that provide coverage for safe drivers may also give you policy discounts that could reduce prices by as much as 25% or more if you qualify. Popular auto insurance companies and their possible discounts can be read below.
- Farm Bureau has savings for good student, multi-policy, youthful driver, driver training, and renewal discount.
- State Farm offers discounts including accident-free, safe vehicle, driver’s education, defensive driving training, and Drive Safe & Save.
- Progressive policyholders can earn discounts including online quote discount, multi-vehicle, continuous coverage, homeowner, and multi-policy.
- Allstate may include discounts for EZ pay plan discount, passive restraint, resident student, teenSMART discount, premier plus, and eSmart discount.
- Nationwide may have discounts that include good student, defensive driving, accident-free, anti-theft, easy pay, family plan, and business or organization.
- MetLife discounts include claim-free, good driver, defensive driver, multi-policy, and good student.
The diagram below compares car insurance costs with and without discounts applied to the policy premium. The premium estimates are based on a female driver, no accidents or driving violations, Colorado state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with passive restraint, defensive driving course, claim-free, marriage, homeowner, and accident-free discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on auto insurance for safe drivers is 28% or $476.
Low rates can quickly become overpriced
Denver auto insurance rates are impacted by many factors that may substantially change the price you have to pay for coverage. Simply having a birthday, getting divorced, or having an accident can cause premium changes resulting in some rates now being affordable when they were higher priced.
In addition, insurance companies change their prices every year or even multiple times each year in order to remain profitable. Higher than normal claims can result in rate hikes, while less frequent claims can result in more affordable Denver car insurance rates.
The bar chart below shows the company with the cheapest car insurance in Denver, CO for a 30-year-old male driver with a clean driving record, no accidents, and a good credit rating. When quoting prices based on his current rating profile, The Hartford offers the best car insurance rates in Denver at $1,106 annually. This is $472 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide round out the rest of the top five cheapest Denver, CO auto insurance companies.
In this next rate comparison, we will give the driver from the above example an accident claim, poor credit, and a speeding citation. Since each company has a different process to set their prices, comparing rates may now result in a completely different list of the cheapest companies as shown below.
Travelers now has the cheapest auto insurance in Denver, CO with State Farm, American Family, Grange, and Progressive also having competitive pricing. This example proves why it is crucial to compare many different companies to get the most affordable auto insurance rates for safe drivers.
Insurance prices consist of many things and change frequently, so the best option the last time you checked may now be quite expensive.
How to find budget-friendly car insurance for safe drivers
It is possible to find better rates, and here are some thrifty solutions that can help drivers locate cheaper auto insurance.
- Prevent rate increases by staying accident-free
- Raise physical damage deductibles
- Save money by observing traffic laws and speed limits
- Full coverage is expensive so only insure older vehicles for liability only
- Having too many claims will increase rates substantially
- Ensure you have the best deal by shopping around regularly
The last item on the list is particularly vital, as we stressed in this write-up. Insurance rates can change in a short period of time, so don’t be hesitant to buy from a new company if you can save money. We understand brand loyalty, but it isn’t a good idea if that inflexibility results in costing you thousands of dollars over the life of your policy. Take a few minutes and compare rates to find cheaper car insurance for safe drivers in Denver.
If you aren’t clear which coverage you need and would like to get some help when trying to find the best insurance rates for good drivers, the insurance agencies below are willing to aid you in deciding which coverages are best.
To locate a Denver insurance agent near you, click the button following the list.
Val Laskowski – State Farm Insurance Agent
5353 W Dartmouth Ave #410 – Denver, CO 80227 – (303) 987-8849
FUSA Insurance Agency
7900 E Union Ave #200 – Denver, CO 80237 – (303) 752-5806
Moschetti Michael – Isu Insurance Svc Of Co
950 17th St #1000 – Denver, CO 80202 – (303) 534-2133