Finding good, reasonably-priced car insurance is challenging, and determining which companies have the most affordable auto insurance rates for drivers with a bad driving record takes even more diligence. Each auto insurer has their own guidelines for establishing rates, so let’s begin by examining the most budget-friendly auto insurance companies in Colorado.
Cheap Insurance Rates for Imperfect Drivers
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $949 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,155 |
| 5 | Auto-Owners | $1,168 |
| 6 | GEICO | $1,176 |
| 7 | Travelers | $1,183 |
| 8 | State Farm | $1,209 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,340 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,497 |
| 14 | Farmers | $1,613 |
| 15 | Colorado Farm Bureau | $1,640 |
| 16 | MetLife | $1,866 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,630 |
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The Hartford has some of the most affordable car insurance rates in Denver at around $825 annually. Grange, USAA, Nationwide, and Auto-Owners also are some of the cheapest Denver, CO car insurance companies.
In the rate table above, if you currently have a policy with USAA and switched to The Hartford, you might realize an annual savings of approximately $204. Policyholders with Nationwide may save as much as $330 a year, and Auto-Owners insureds might cut rates by $343 a year.
Be aware that those policy rates are averaged across all drivers and vehicles in Colorado and do not factor in a specific vehicle garaging location for drivers with a bad driving record. So the insurer that fits your needs best may not even be in the list above. That illustrates why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
For bad drivers, one of the more important components that aid in calculating car insurance rates is the neighborhood you call home in Denver. Areas with high crime rates or more dense population are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims profit from lower rates.
The next table rates the most costly cities in Colorado for drivers with a bad driving record to buy car insurance in. Denver is listed at #3 with an annual rate of $1,383 for the average insured, which is around $115 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Aurora | $1,403 |
| 3 | Denver | $1,383 |
| 4 | Lakewood | $1,378 |
| 5 | Security-Widefield | $1,343 |
| 6 | Northglenn | $1,342 |
| 7 | Colorado Springs | $1,329 |
| 8 | Commerce City | $1,314 |
| 9 | Littleton | $1,306 |
| 10 | Centennial | $1,304 |
| 11 | Arvada | $1,295 |
| 12 | Ken Caryl | $1,287 |
| 13 | Thornton | $1,281 |
| 14 | Brighton | $1,273 |
| 15 | Parker | $1,270 |
| 16 | Highlands Ranch | $1,267 |
| 17 | Castle Rock | $1,248 |
| 18 | Westminster | $1,234 |
| 19 | Boulder | $1,207 |
| 20 | Broomfield | $1,203 |
| 21 | Longmont | $1,179 |
| 22 | Greeley | $1,156 |
| 23 | Grand Junction | $1,132 |
| 24 | Loveland | $1,107 |
| 25 | Fort Collins | $1,067 |
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Prices are approximated as specific Denver zip code can alter price quotes substantially.
Rate difference between full and liability-only coverage
Saving money on auto insurance is important to most drivers, and a great way to reduce the cost of insurance for drivers with a bad driving record is to not buy full coverage. The information below shows the comparison of car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are factored in.
Averaged for all age groups, comprehensive and collision coverage on your policy costs an additional $1,656 per year over having just liability coverage. That raises the question when is the right time to remove full coverage. There is no written rule to drop full coverage, but there is a general school of thought. If the yearly cost of full coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
Discounts on Denver auto insurance rates
Car insurance companies that offer quotes for drivers with a bad driving record may also offer rate discounts that could lower prices by 40% or more if you meet eligibility requirements. A list of companies and their offered discounts include:
- Farm Bureau may offer discounts for 55 and retired, renewal discount, driver training, good student, youthful driver, and multi-vehicle.
- Liberty Mutual has discounts for newly married, good student, new move discount, multi-policy, hybrid vehicle, multi-car, and new vehicle discount.
- State Farm policyholders can earn discounts including safe vehicle, defensive driving training, good student, Drive Safe & Save, and student away at school.
- Auto-Owners Insurance offers premium reductions for paid in full, multiple vehicles, safe vehicle, paperless, group or association, and multi-policy.
- GEICO may include discounts for daytime running lights, anti-theft, air bags, five-year accident-free, driver training, and federal employee.
- SAFECO offers discounts including multi-car, drive less, teen safety rewards, teen safe driver, accident prevention training, bundle discounts, and anti-theft.
The information below illustrates the comparison of auto insurance costs with and without discounts. The premiums are based on a female driver, two speeding tickets and one accident, Colorado state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with paid-in-full, homeowner, anti-theft, multiple policy, vehicle safety, and continuous coverage discounts applied. With discounts applied, the average amount saved each year on auto insurance for drivers with a bad driving record is 28% or $1,003.
Ideas for finding more affordable car insurance for drivers with a bad driving record
Below you’ll find a few penny-pinching solutions that can help drivers buy more affordable coverage.
- Save money by staying claim-free
- Drive safe vehicles
- Do not get traffic violations
- Drop full coverage on older vehicles
- Buying home and auto together can help save money
- Remain accident-free and save
- Check for cheaper rates once a year
That last tip is very critical, as we pointed out in this write-up. Rates in Denver can be modified anytime, so don’t hesitate to change to a new company if a cheaper price is available.
Having brand loyalty is commendable, but it’s not a great idea if that inflexibility results in costing you a lot of money every month. Spend a few minutes and compare prices to find cheaper auto insurance for drivers with a bad driving record.