The words “low-priced” and “insurance” really shouldn’t be used in the same sentence, in particular when searching for the best insurance rates for veterans. To save some money, let’s familiarize you with a few of the factors that determine car insurance rates, and find out if you can reduce the cost of your next policy.
Establishing which companies have the best insurance rates for veterans takes a little more effort in order to find the lowest price quote. Each auto insurer has a proprietary method to establish rates, so to begin we’ll rank the insurance companies with the overall best prices in Colorado.
Cheapest Insurance Rates for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $978 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,152 |
| 6 | Auto-Owners | $1,168 |
| 7 | Travelers | $1,207 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,301 |
| 10 | Amica | $1,353 |
| 11 | Progressive | $1,376 |
| 12 | California Casualty | $1,444 |
| 13 | Allied | $1,483 |
| 14 | Colorado Farm Bureau | $1,576 |
| 15 | Farmers | $1,581 |
| 16 | MetLife | $1,866 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,657 |
| Get Personalized Rates Go | ||
The Hartford generally has some of the best car insurance rates in Denver at around $850 per year. Grange, USAA, Nationwide, and GEICO also make the cut as some of the more affordable Denver, CO auto insurance companies.
In the rate table above, if you have coverage with Nationwide and switched to Grange, you could earn an annual premium reduction of about $131. Colorado drivers with GEICO could save as much as $174 a year, and Auto-Owners customers might reduce prices by as much as $190 a year.
These policy rates are averaged across all drivers and vehicles and and are not calculated with an exact zip code location for veterans. So the insurer that has the cheapest price for you may not even be in the top 21 companies shown above. That emphasizes why you need to compare as many prices as possible using your own driver data and vehicle information.
For veterans, one of the more important criteria that help determine car insurance rates is your address in Denver. Larger areas are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The illustration below shows the highest-priced places in Colorado for veterans in which to purchase auto insurance. Denver ranks #2 with a yearly cost of $1,383 for the average policyholder, which is approximately $115 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Pueblo | $1,412 |
| 2 | Denver | $1,383 |
| 3 | Lakewood | $1,365 |
| 4 | Aurora | $1,361 |
| 5 | Commerce City | $1,354 |
| 6 | Security-Widefield | $1,330 |
| 7 | Northglenn | $1,329 |
| 8 | Arvada | $1,308 |
| 9 | Littleton | $1,306 |
| 10 | Ken Caryl | $1,287 |
| 11 | Brighton | $1,285 |
| 12 | Thornton | $1,281 |
| 13 | Colorado Springs | $1,277 |
| 14 | Centennial | $1,265 |
| 15 | Castle Rock | $1,248 |
| 16 | Westminster | $1,246 |
| 17 | Highlands Ranch | $1,241 |
| 18 | Parker | $1,220 |
| 19 | Boulder | $1,195 |
| 20 | Longmont | $1,179 |
| 21 | Broomfield | $1,167 |
| 22 | Greeley | $1,156 |
| 23 | Grand Junction | $1,154 |
| 24 | Loveland | $1,074 |
| 25 | Fort Collins | $1,056 |
| Start a Quote Go | ||
Rate information is estimated as vehicle location can raise or lower insurance rates significantly.
The make and model of vehicle on the policy is one of the biggest factors when quoting the best auto insurance for veterans. Vehicles with more horsepower, poor safety features, or a history of substantial liability claims will cost quite a bit more to insure than more modest models.
The next table illustrates coverage prices for the more affordable vehicles to buy coverage for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,379 |
| Honda CR-V EX-L 2WD | $1,507 |
| Ford Explorer XLT 2WD | $1,512 |
| Honda Accord EX 4-Dr Sedan | $1,520 |
| Ford Focus S 4-Dr Sedan | $1,565 |
| Ford F-150 XLT Regular Cab 2WD | $1,617 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,625 |
| Dodge Grand Caravan CV | $1,651 |
| Toyota Prius | $1,682 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,711 |
| GMC Sierra SLE Regular Cab 4WD | $1,719 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,711 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,717 |
| Honda Odyssey EX | $1,714 |
| Ford Edge SE AWD | $1,720 |
| Start a Quote Go | |
Cost estimates assume 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, safe-driver, homeowner, claim-free, and multi-vehicle. Estimates do not factor in specific location which can raise or lower premium rates greatly.
Based upon the rates shown, you can expect models like the Ford Escape, Honda CR-V, Ford Explorer, and Honda Accord are likely to be a few of the less-costly vehicles to insure for veterans.
Selecting the top car insurance company is hard considering how many different companies sell coverage in Denver. The rank data below may help you analyze which companies to look at comparing price quotes from.
The ratings below are only made up of large insurance companies, so companies with more of a regional focus are not included in these rankings. To compare price quotes and find the cheapest rates for veterans, just click here.
| 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 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Travelers | 80 | 87 | 87 | 83% | A++ | 85.2 |
| Farmers Insurance | 78 | 87 | 88 | 79% | A | 84.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Get discount Denver auto insurance rates
Insurance companies that offer coverage for veterans may additionally offer policy discounts that could reduce prices by 25% or more if you meet certain criteria. The best insurance companies and some of the discounts are:
- State Farm may offer discounts for Steer Clear safe driver discount, good driver, driver’s education, good student, and defensive driving training.
- Esurance may include discounts for Pac-12 alumni, defensive driver, renters, anti-theft, and homeowner.
- Progressive policyholders can earn discounts including online signing, good student, multi-policy, continuous coverage, and homeowner.
- Liberty Mutual offers discounts including newly married, multi-car, new vehicle discount, good student, and new graduate.
- Auto-Owners Insurance discounts include anti-lock brakes, teen driver, student away at school, safe vehicle, paperless, multiple vehicles, and group or association.
- GEICO has discounts for emergency military deployment, daytime running lights, good student, driver training, and multi-policy.
The diagram below visualizes the comparison of insurance prices with and without discounts applied to the policy premium. The costs are based on a male driver, no violations or accidents, Colorado state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with marriage, vehicle safety, accident-free, multiple vehicle, passive restraint, and homeowner discounts applied. In this example, theamount saved on insurance for veterans is 28% or $562.
Last year’s bargain might be this year’s rip off
Denver insurance rates are influenced by many factors that may substantially change the price of coverage. Improving your credit rating, becoming a homeowner, or getting a ticket for running a stop sign may generate price changes that can make some companies more affordable than before.
Not only may your situation change, but insurers modify rates every year or even multiple times each year in order to be able to pay unexpected claims. Significantly higher losses can cause a rate increase, while a better claims history may produce more affordable Denver car insurance rates.
For example, the graph below shows which companies have the cheapest car insurance in Denver, CO for a 30-year-old male driver with a good driving record, no prior claims, and a high credit rating. When comparing rates based on his personal risk profile, The Hartford offers the lowest car insurance rates in Denver at $1,113 each year. This is $465 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also included in the cheapest Denver, CO auto insurance companies.
Now we will give the driver from the first rate comparison a claim or two, bad credit, and an imperfect driving record. Because each company uses their own formula for determining prices, comparing insurance quotes will most likely result in a slightly different list of cheap Denver auto insurance companies as shown below.
State Farm now has the best insurance rate in Denver, CO with Travelers, American Family, Progressive, and Grange completing the list. This example shows why it is important to compare rates to get the most affordable auto insurance quotes for veterans. Car insurance prices are calculated by many risk factors and change dramatically, so the most economical company the last time you shopped around may now not even be in the top five.
How to find budget-friendly car insurance for veterans
The list below details some money-saving ideas that can help drivers buy lower-cost auto insurance.
- Vehicles with safetly features generally cost less to insure
- Clean up your credit
- Save money by insuring older vehicles for liability only
- Too many claims can make car insurance unaffordable
- Increase your policy deductibles
- Save money by bundling your home and auto policies
- Shop around once a year for cheaper rates
The last idea is especially necessary, as was noted in this piece. Prices charged by companies in Denver fluctuate considerably, so don’t be unwilling to buy from a different company if a more affordable price is available. Brand loyalty is great, but it’s not recommended if that faithfulness ends up costing you a lot of money every month. Now is a great time to compare rates and find cheaper auto insurance for veterans.