For military personnel, one of the big criteria that are looked at to determine the amount you pay each year for auto insurance is where you live. Larger areas tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.
The following table sorts the highest-priced places in Colorado for active military to buy auto insurance in. Denver is ranked #3 with an annual premium of $1,383 for the average insured, which is around $115 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Aurora | $1,403 |
| 2 | Pueblo | $1,397 |
| 3 | Denver | $1,383 |
| 4 | Lakewood | $1,365 |
| 5 | Security-Widefield | $1,330 |
| 6 | Colorado Springs | $1,329 |
| 7 | Commerce City | $1,328 |
| 8 | Centennial | $1,317 |
| 9 | Ken Caryl | $1,313 |
| 10 | Northglenn | $1,290 |
| 11 | Thornton | $1,281 |
| 12 | Highlands Ranch | $1,279 |
| 13 | Westminster | $1,272 |
| 14 | Parker | $1,270 |
| 15 | Littleton | $1,267 |
| 16 | Arvada | $1,256 |
| 17 | Brighton | $1,235 |
| 18 | Castle Rock | $1,211 |
| 19 | Boulder | $1,171 |
| 20 | Longmont | $1,168 |
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Price information shown is comparative as the garaging address in Denver can affect coverage prices considerably.
The make and model of vehicle requiring insurance is one of the biggest factors when shopping for low-cost insurance for active military. Vehicles with lots of horsepower, poor safety ratings, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models.
The list below outlines car insurance prices for a selection of the most budget-friendly vehicles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $1,388 |
| Ford Escape XLT 4WD | $1,552 |
| Dodge Grand Caravan CV | $1,555 |
| Honda CR-V LX 2WD | $1,566 |
| Chevrolet Malibu Hybrid | $1,643 |
| Chevrolet Equinox LS 2WD | $1,653 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,651 |
| Ford F-150 SVT Raptor Super Cab 4WD | $1,674 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,690 |
| Hyundai Elantra SE 4-Dr Sedan | $1,730 |
| Toyota Prius | $1,735 |
| Chevrolet Silverado LT Regular Cab | $1,759 |
| Nissan Rogue SL 2WD | $1,767 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,762 |
| Ford Explorer Eddie Bauer 2WD | $1,770 |
| GMC Sierra SLE Crew Cab 2WD | $1,762 |
| Jeep Grand Cherokee Laredo 4WD | $1,797 |
| Toyota RAV4 Limited 2WD | $1,807 |
| Toyota Tacoma Double Cab 4WD | $1,797 |
| Chevrolet Impala LS | $1,807 |
| Ford Edge SEL AWD | $1,812 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,852 |
| Ford Focus SEL 4-Dr Sedan | $1,858 |
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Information does not factor in specific Denver, CO garaging location which can alter premium rates considerably.
Based upon the rates shown, you can presume that cars like the Honda Accord, Ford Escape, Dodge Grand Caravan, and Honda CR-V will be the most affordable vehicles to insure for military personnel.
Finding decent, affordable insurance is easier said than done, and deciding which company has the most affordable auto insurance rates for active military will involve even more shopping around. Every insurance company uses slightly different criteria to set premium rates, so let’s take a look at the most affordable auto insurance companies in Colorado.
It’s a good idea to know that Denver, CO auto insurance rates are based on many factors that may substantially change the cost of your policy. This price variation is why drivers need to compare many different companies when trying to get the best car insurance rates for active military. Prices are determined by many factors and change substantially, so the best option the last time you shopped your coverage around may now be quite expensive.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $978 |
| 3 | USAA | $1,009 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,152 |
| 6 | Travelers | $1,183 |
| 7 | Auto-Owners | $1,192 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,353 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,497 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,472 |
| 20 | Titan | $2,711 |
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The Hartford has some of the cheapest car insurance rates in Denver at around $850 a 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 cheapest Denver, CO insurance companies.
As shown in the table above, if you are a customer of Nationwide and switched to The Hartford, you may realize a yearly savings of around $259. Insureds with GEICO could save as much as $302 a year, and Travelers policyholders might lower prices by up to $333 a year.
These estimates are averaged for all drivers and vehicles and are not factoring in an exact vehicle garaging location for active military. So the company that has the cheapest price for you may not even be in the top 21 companies in the list above. That’s why you need to get rate quotes using your own personalized driver profile and vehicle information.
Should you buy full coverage?
Lowering the price of auto insurance should be important to the majority of people, and one of the fastest ways to find cheap insurance for active military is to not buy full coverage. The chart below illustrates the difference between premium costs with full physical damage coverage and with liability coverage only. The information is based on no violations or accidents, $100 deductibles, drivers are single, and no discounts are applied.
If averaged out across all ages, full coverage on your policy costs $2,013 per year more than buying just liability insurance. That may make you wonder when is it safe to stop buying full coverage. There is no set rule to stop buying comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $3,000 after paying your policy deductible. If premiums are more than $300 a year to have full coverage, the it may be a good time to stop paying for full coverage.
There are some cases where removing full coverage is not financially feasible. If you still owe a portion of the original loan, you have to carry full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not drop full coverage.
Picking a high-quality insurance company can be challenging considering how many different insurance companies sell coverage in Denver. The rank data below may help you decide which car insurance companies to look at shopping prices with. The ratings below only include companies that write coverage in many states, so companies that only write business in Colorado or surrounding areas are not taken into consideration for the 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 |
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Data Source: Insure.com Best Car Insurance Companies
Violations and accidents raise rates
The easiest method to snag affordable auto insurance prices in Colorado for military personnel is to pay attention while driving and avoid accidents and traffic citations. The example below demonstrates how citations and at-fault accidents can drive up insurance prices for each age group. The price estimates are based on a single male driver, full coverage, $100 deductibles, and no other discounts are factored in.
The data in the chart shows the average cost of auto insurance per year with no accidents or violations is $2,013. Receive two speeding tickets and the average cost surges to $2,671, an increase of $658 each year. Then add in one accident along with the two speeding tickets and the annual cost of auto insurance for active military goes up to an average of $3,331. That’s an increase of $1,318, or $110 per month, just for not driving safely!