One of the many considerations that aid in calculating the cost of insurance is where you keep your vehicle in Denver. Cities with larger populations or higher claim trends tend to have higher rates, whereas areas with lower crime rates and fewer weather claims benefit from lower prices.
The next table rates the most expensive places in Colorado for unemployed drivers in which to purchase auto insurance. Denver comes in at #1 with an annual premium of $1,425 for the average insurance policy, which is approximately $119 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Denver | $1,425 |
| 2 | Pueblo | $1,412 |
| 3 | Lakewood | $1,365 |
| 4 | Aurora | $1,361 |
| 5 | Northglenn | $1,329 |
| 6 | Thornton | $1,320 |
| 7 | Commerce City | $1,314 |
| 8 | Arvada | $1,308 |
| 9 | Security-Widefield | $1,304 |
| 10 | Colorado Springs | $1,290 |
| 11 | Ken Caryl | $1,287 |
| 12 | Westminster | $1,284 |
| 13 | Centennial | $1,278 |
| 14 | Littleton | $1,267 |
| 15 | Parker | $1,257 |
| 16 | Brighton | $1,247 |
| 17 | Highlands Ranch | $1,229 |
| 18 | Castle Rock | $1,224 |
| 19 | Broomfield | $1,215 |
| 20 | Boulder | $1,195 |
| 21 | Longmont | $1,179 |
| 22 | Greeley | $1,156 |
| 23 | Grand Junction | $1,154 |
| 24 | Loveland | $1,096 |
| 25 | Fort Collins | $1,067 |
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Price information shown is estimated as specific Denver garaging address can modify prices greatly.
Figuring out which company quotes the cheapest auto insurance rates for unemployed drivers calls for more work in order to find the best policy.
Each insurer uses a slightly different approach for setting prices, so we’ll take a look at the auto insurance companies that tend to be cheaper in Denver, CO.
Find the Cheapest Auto Insurance for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $958 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,141 |
| 6 | Travelers | $1,171 |
| 7 | Auto-Owners | $1,204 |
| 8 | State Farm | $1,209 |
| 9 | American Family | $1,262 |
| 10 | Progressive | $1,336 |
| 11 | Amica | $1,340 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,483 |
| 14 | Farmers | $1,581 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,055 |
| 18 | Encompass | $2,231 |
| 19 | Safeco | $2,522 |
| 20 | Titan | $2,657 |
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The Hartford generally has some of the lowest car insurance rates in Denver at around $834 each year. This is $744 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also are some of the best Denver, CO auto insurance companies.
In the rate table above, if you are insured with GEICO and switched to Grange, you could see an annual savings of in the vicinity of $183. Policyholders with Travelers could save as much as $213 a year, and Auto-Owners insureds might realize rate reductions of up to $246 a year.
Understand that those premiums are averaged across all types of insureds and vehicles and and are not calculated with a vehicle location for unemployed drivers. So the insurer that can offer you the best price may not even be in the top 21 companies in the list above. That points out the importance of why you need to compare as many prices as possible using your own driver and vehicle profiles.
Does it make sense to buy full coverage?
Finding cheaper auto insurance is important to the majority of drivers, and an effective way to lower the cost of insurance for unemployed drivers is to only buy liability coverage. The chart below visualizes the comparison of auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The premium estimates are based on no accidents or driving violations, $250 deductibles, marital status is single, and no policy discounts are applied.
If averaged for all ages, full coverage on your policy costs an extra $2,465 per year over liability only. A very common question is if it’s a good idea to buy full coverage. There is no definitive formula to stop paying for comp and collision coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
There are some conditions where dropping physical damage coverage is not a good plan. If you still owe money on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.
Insurance rate increases from tickets or accidents
The common sense way to find the best auto insurance premiums in Denver for the unemployed is to drive safely and have a clean driving record. The illustration below highlights how traffic violations and at-fault fender-benders can drive up insurance costs for different ages of insureds. Data assumes a single male driver, full physical damage coverage, $100 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of a car insurance policy per year with no violations or accidents is $2,013. Add in two speeding tickets and the average cost increases to $2,671, an increase of $658 each year. Now get two accidents along with the two speeding tickets and the yearly cost of auto insurance for unemployed drivers increases to an average of $5,007. That’s an increase of $2,994, or $250 per month, just for not driving safely!
Can you find cheaper Denver car insurance?
Colorado auto insurance rates are influenced by many factors that can increase the price of your policy. Improving your credit score, having a teenage driver, or getting a driving violation can produce rate changes that can make some companies more affordable than competitors.
Also, insurance companies modify pricing as often as every three months in order to be able to pay unexpected claims. Heavier than normal losses can cause more expensive prices, while a better loss history can cause more affordable Denver car insurance rates.
For instance, the data below compares the cheapest car insurance in Denver, CO for a 30-year-old female driver with no violations or accidents, and a decent credit rating. If we estimate prices based on her current risk factors, The Hartford has the most affordable car insurance rates in Denver at $1,113 a year. This is $465 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are the remainder of the cheapest Denver, CO auto insurance companies.
Let’s now give the driver from the above example a claim surcharge, poor credit, and a few traffic violations. Since every car insurance company has their own unique process to determining premium rates, analyzing rate quotes could result in a new list of the cheapest car insurance companies in Denver as shown below.
Travelers now has the lowest price on auto insurance in Denver, CO with State Farm, American Family, Progressive, and Amica also having competitive pricing. This shows why consumers need to take the time to shop around to get the most economical car insurance quotes for unemployed drivers.
Car insurance prices are influenced by many risk factors and change substantially, so the cheapest rate the last time you shopped your coverage around may now be priced much higher than other options.
The professional agents shown below can answer your questions and help you decide which car insurance company is the best fit, as some people prefer to get some guidance when comparing insurance rates for the unemployed. It can be difficult to find the cheapest car insurance policy, and using a licensed agent can add comfort knowing your coverage gives you adequate protection in the event of a claim.
To locate a Denver car insurance agency using an interactive map, click the button at the bottom or click here to compare prices now.
- Moschetti Michael – Isu Insurance Svc Of Co
950 17th St #1000 – Denver, CO 80202 – (303) 534-2133 - Moody Insurance Agency
8055 E Tufts Ave #1000 – Denver, CO 80237 – (303) 824-6600 - Joe Adams – State Farm Insurance Agent
4110 8th Ave – Denver, CO 80220 – (303) 388-4949 - Bao Ngoc Nguyen – State Farm Insurance Agent
1699 S Federal Blvd b – Denver, CO 80219 – (303) 975-1100 - Sorhage and James Insurance
1660 S Albion St # 1005 – Denver, CO 80222 – (303) 759-4551
View more Denver, CO insurance agents
How to find cheaper car insurance for unemployed drivers
Below you’ll find some of the better money-saving solutions that can help Colorado drivers find cheaper auto insurance.
- Increase your policy deductibles
- Safer vehicles cost less to insure
- Speeding tickets and other violations increase rates
- Good credit can help you save money
- If your vehicles are older, consider dropping full coverage
- Avoid preventable accidents
- Shop around for cheaper rates regularly
The last tip is extremely valuable, as we discussed in this piece. Auto insurance prices in Denver can change considerably based on profitability, so don’t be unwilling to buy a policy from a new company if a better deal can be had.
Being loyal to a particular company is commendable, but it’s not recommended if that loyalty ends up costing a lot of money every month. If you have a few minutes, compare prices to find cheaper auto insurance for unemployed drivers.