This article would sure be shorter if we could simply tell you the one company in Denver that has the lowest rates in Colorado. Regrettably, it’s not quite that easy, as there are a whole bunch of unknown aspects such as what level of deductibles you wish to have, the performance level of your vehicle, and the likelihood of vehicle theft where you live, that all have an effect on the price. This article should teach you a little about the best ways to shop for cheaper coverage and should give you a jump start in finding the best auto insurance in Denver.
Establishing which company has the lowest-priced auto insurance rates for seniors will involve more work than just comparing a company or two. Every car insurance company uses their own method for setting rates, so to begin we’ll rank the auto insurance companies with the overall best prices in Denver, CO.
We do need to point out that Denver, CO auto insurance rates are impacted by many things which can substantially decrease or increase the policy premium. Improving your credit rating, becoming a homeowner, or getting caught speeding may generate price changes that can make some companies cheaper than competitors.
Best Auto Insurance Prices for Mature Drivers
The Hartford may offer some of the lowest car insurance rates in Denver at around $859 a year. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also rank well as some of the cheaper Denver, CO auto insurance companies.
As shown in the table above, if you currently have a policy with USAA and switched to The Hartford, you may realize annual savings of in the neighborhood of $140. Policyholders with GEICO might save as much as $293 a year, and Nationwide customers might see rate reductions of $296 a year.
To see if you’re overpaying, click here to begin a quote or feel free to get quotes from the companies below.
It’s important to note that these premium estimates are averaged across all insureds and vehicles and do not factor in an exact zip code location for seniors. So the insurer that is best for you may not even be in the top 21 companies in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.
The vehicle model you are buying coverage for is one of the primary factors when shopping for low-priced coverage for seniors. Vehicles with lower acceleration and performance, advanced safety features, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.
The table below presents insurance rates for a selection of the most economical automobiles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $1,123 |
| Ford Escape XLT 2WD | $1,130 |
| Honda Accord LX-P 4-Dr Sedan | $1,123 |
| Ford F-150 XL Regular Cab 2WD | $1,165 |
| Toyota Prius | $1,246 |
| Dodge Grand Caravan CV | $1,262 |
| Ford Explorer XLT AWD | $1,268 |
| Ford Edge SEL AWD | $1,307 |
| Chevrolet Impala LS | $1,316 |
| Honda Civic DX 4-Dr Sedan | $1,307 |
| Toyota Tacoma Double Cab 4WD | $1,333 |
| Jeep Grand Cherokee Laredo 2WD | $1,339 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,333 |
| Chevrolet Malibu LS | $1,341 |
| Toyota RAV4 Sport 2WD | $1,333 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,372 |
| Toyota Camry XLE | $1,404 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,414 |
| Chevrolet Silverado LT Regular Cab 2WD | $1,427 |
| Ford Fusion SE 4-Dr Sedan | $1,430 |
| Honda Odyssey Touring | $1,436 |
| Chevrolet Equinox LTZ AWD | $1,430 |
| GMC Sierra SL Crew Cab 4WD | $1,440 |
| Get a Custom Quote Go | |
Above prices assume married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium costs do not factor in specific location information which can change coverage prices considerably.
Based upon these rates, you can infer that makes and models like the Honda CR-V, Ford Escape, and Honda Accord are going to be some of the less-costly vehicles to insure for senior citizens.
How much more does full coverage cost in Denver?
Reducing premiums for auto insurance is important to the majority of people, and one of the best ways to buy cheaper insurance for seniors is to buy liability only. The illustration below illustrates the difference between annual premium costs with and without full coverage. The premium estimates are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no other discounts are factored in.
As an overall average, comprehensive and collision coverage on your policy costs $2,465 per year more than carrying just liability coverage. That raises the question when is the right time to remove full coverage. There is no clear-cut formula for phasing out comp and collision coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
Get discounts on Denver insurance rates
Insurance providers that provide policies for seniors could also offer premium discounts that could lower prices by 30% or more if you meet specific eligibility requirements. Popular auto insurance companies and a selection of discounts are detailed below.
- GEICO may have discounts that include membership and employees, multi-policy, driver training, five-year accident-free, and daytime running lights.
- MetLife offers discounts including accident-free, multi-policy, good student, defensive driver, claim-free, good driver
- State Farm includes discounts for student away at school, accident-free, good driver, driver’s education, safe vehicle, passive restraint, and multiple autos.
- Progressive offers premium reductions for homeowner, online signing, online quote discount, multi-policy, good student, continuous coverage, and multi-vehicle.
- Mercury Insurance may include discounts for ease of repair, multi-policy, professional/association, type of vehicle, good driver, and anti-theft.
- 21st Century policyholders can earn discounts including defensive driver, automatic seat belts, student driver, air bags, teen driver, and homeowners.
- Allstate discounts include eSmart discount, passive restraint, utility vehicle, good payer, early signing, and farm vehicle.
The chart below shows the difference between insurance prices with and without some available policy discounts. The costs are based on a female driver, no accidents, no driving violations, Colorado state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with claim-free, passive restraint, multiple policy, homeowner, multiple vehicle, and accident-free discounts applied. When discounts are applied, the average savings per year on auto insurance for seniors is 30% or $561.
How to find economical insurance for seniors
It’s not impossible to find cheaper rates, and here are many thrifty solutions that can help drivers get cheaper coverage.
- Avoid having at-fault accidents
- Drive safely
- Bundle home and auto and save
- Drive vehicles with five-star safety ratings
- Claim-free policyholders usually earn a discount
- Full coverage may not be needed on older vehicles
- Compare rates once a year for cheaper prices
The last suggestion is particularly vital, as was noted in the prior information. Insurance prices in Denver can be adjusted at any time, so you should be ready to change to a new company if a better rate can be found.
Brand loyalty is not necessarily bad, but it’s not a good idea if that stubbornness costs you hundreds every year. In just a couple of minutes you could shop around to find cheaper car insurance for seniors.
The auto insurance agents in Denver shown below are willing to help you determine which coverage meets your needs best, since some drivers aren’t sure which coverage they need and prefer to have a little guidance when shopping for cheaper insurance for seniors. It can be time-consuming to find the best policy on your own, so getting professional guidance from a licensed agent can give you comfort knowing you have adequate protection in case of an accident or claim. To find an auto insurance agency close to you, click the button following the list.
L A Insurance
2684 S Broadway – Denver, CO 80210 – (303) 282-8000
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
Todd Savage – State Farm Insurance Agent
2401 E 6th Ave – Denver, CO 80206 – (303) 722-1139