You have most likely seen the ads from insurers like Liberty Mutual and State Farm guaranteeing big savings. So you just need to pick the company with the cutest commercial, right?
It’s just not that easy, however, as there are many unknown elements such as the safety features built into your vehicle, your financial stability, what physical damage coverage deductibles you want, and if you have points on your license, that all help calculate your car insurance rates. This article goes into detail about the best ways to pay less and will give you a good start to your coverage search.
Figuring out which companies offer the most affordable auto insurance rates for postal workers calls for more time than just comparing a company or two. Each insurer has their own formula to set premium rates, so let’s examine the lowest cost auto insurance companies in Denver, CO.
It’s important to understand that Denver auto insurance rates are based on many factors which can significantly increase or decrease the policy price. Improving your credit rating, buying a home, or getting into an accident may generate price changes that may make certain companies affordable when they were higher priced.
Find the Cheapest Auto Insurance for USPS Employees
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,624|
|Quote Your Rates Go|
The Hartford generally has some of the best car insurance rates in Denver at around $850 per year. This is $728 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also qualify as some of the best Denver, CO car insurance companies.
As shown in the table above, if you are insured with GEICO and switched to Grange, you could see savings of in the neighborhood of $198. Customers with Travelers could save as much as $205 a year, and Auto-Owners policyholders might realize rate reductions of up to $226 a year.
Remember that these premiums are averaged across all types of insureds and vehicles and and are not figured with a specific location for postal workers. So the car insurance company that can offer you the best price may not even be in the top 21 companies in the list above. That’s why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
For postal employees, one of the largest considerations that are looked at to determine auto insurance rates is the neighborhood you call home in Denver. Areas with more people or even just a higher incidence of claims tend to have higher auto insurance costs, whereas more rural areas benefit from lower rates.
The illustration below ranks the most expensive places in Colorado for postal workers to buy auto insurance in. Denver is ranked #1 with an annual cost of $1,425 on average, which is approximately $119 each month.
|Rank||City||Premium Per Year|
|Compare Rates Now Go|
Annual rates are approximated as specific location information can influence coverage rates substantially.
The make and model of vehicle you are insuring is a large factor when quoting the lowest-priced coverage for postal workers. Vehicles with lower performance, modern passenger safety features, or a positive history of liability claims will cost quite a bit less to insure than fast, unsafe models. The data below presents insurance rates for the more affordable automobiles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford F-150 XL Super Cab 4WD||$1,422|
|Honda CR-V EX-L 4WD||$1,471|
|Ford Escape XLT 4WD||$1,477|
|Chevrolet Impala LS||$1,476|
|Ford Edge SEL AWD||$1,482|
|Chevrolet Equinox LT 2WD||$1,504|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,521|
|Ford Explorer Limited AWD||$1,532|
|Jeep Grand Cherokee Limited 4WD||$1,613|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,620|
|Chevrolet Silverado LTZ Extended Cab 4WD||$1,613|
|Ford Focus S 4-Dr Sedan||$1,615|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,636|
|Ford F-350 XLT Super Cab 2WD||$1,643|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,652|
|Toyota RAV4 2WD||$1,646|
|Chevrolet Malibu Hybrid||$1,653|
|Toyota Tacoma Double Cab 4WD||$1,692|
|Nissan Rogue SL AWD||$1,701|
|Find Cheaper Rates Go|
Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Price information does not factor in specific location which can affect coverage rates greatly.
Based upon the rates shown, you can infer that cars like the Toyota Prius, Ford F-150, Honda CR-V, and Ford Escape should be a few of the most budget-friendly vehicles to insure for postal employees.
The information below shows how choosing a deductible can change premium costs when researching cheap insurance for postal workers. The rates are based on a single female driver, full coverage, and no discounts are factored in.
A 40-year-old driver could save $388 a year by switching from a $100 deductible up to a $500 deductible, or save $586 by using a $1,000 deductible. Even younger drivers, like the age 20 example, can save as much as $990 or more by choosing a higher deductible. When choosing a higher deductible, it is necessary to have plenty of discretionary funds to enable you to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Does it make sense to buy full coverage?
Finding the cheapest auto insurance is important to most people, and one good way to buy cheap insurance for postal workers is to not buy full coverage. The diagram below illustrates the difference between auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no driving violations, no at-fault accidents, $500 deductibles, drivers are single, and no discounts are taken into consideration.
If averaged out across all ages, physical damage coverage costs an extra $1,656 per year more than just buying liability insurance. That raises the question when is the right time to remove full coverage. There is no specific rule of when to exclude full coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $6,500 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $5,500 after you pay the deductible. If premiums are more than $550 annually for comprehensive and collision coverage, then it might be time to buy liability only.
There are some circumstances where dropping full coverage is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
Finding the highest-rated insurance provider is hard considering how many companies there are in Colorado. The company information in the lists below could help you select which car insurance companies to look at shopping prices with. The rankings below only include the largest companies in the United States, so companies that have a smaller presence will not be included in this list.
Top 10 Large Auto Insurance Companies in Denver Ranked by Customer Service
- State Farm
- The Hartford
- The General
- AAA Insurance
- American Family
Top 10 Large Auto Insurance Companies in Denver Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- Allstate – 88%
- 21st Century – 88%
- The General – 88%
If you like to have the advice of a professional agent when buying car insurance for postal employees, the insurance agencies listed below can help you determine which coverage meets your needs best.
To locate a Denver insurance agent close to you, click the button link following the list.
Austin Domsch – State Farm Insurance Agent
400 S Colorado Blvd #890 – Denver, CO 80246 – (303) 321-0895
Val Laskowski – State Farm Insurance Agent
5353 W Dartmouth Ave #410 – Denver, CO 80227 – (303) 987-8849
Tammy Hill – State Farm Insurance Agent
4650 Tower Rd Unit 101 – Denver, CO 80249 – (303) 373-9500
Farmers Insurance – Angel Le
1145 S Federal Blvd – Denver, CO 80219 – (303) 975-8911
Hiram Licea – State Farm Insurance Agent
3600 Morrison Rd – Denver, CO 80219 – (303) 935-7475