Determining which company has the cheapest car insurance rates for college graduates will require more time in order to find the lowest price. Every insurance company uses a different method for filing rates in each state, so we need to take a look at the lowest cost car insurance companies in Colorado.
Best Car Insurance Prices for Grads
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $978 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,109 |
| 5 | Travelers | $1,171 |
| 6 | GEICO | $1,176 |
| 7 | Auto-Owners | $1,192 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,314 |
| 10 | Progressive | $1,336 |
| 11 | Amica | $1,381 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,497 |
| 14 | Colorado Farm Bureau | $1,592 |
| 15 | Farmers | $1,613 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,472 |
| 20 | Titan | $2,738 |
| Find Your Rate Go | ||
The Hartford may have some of the most affordable car insurance rates in Denver at around $834 a year. This is $744 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers are also some of the lowest-priced Denver, CO car insurance companies.
In the above rates, if you have coverage with Grange and switched to The Hartford, you could realize an annual savings of about $144. Policyholders with USAA may save as much as $195 a year, and Nationwide policyholders might lower prices by up to $275 a year.
To see if you’re overpaying, click here to get a free quote or visit any of the low-priced companies below.
These estimates are averages across all drivers and vehicles and and are not figured with a specific location for college graduates. So the company that has the lowest price for you may not even be in the list above. That points out the importance of why you need to quote rates from many companies using your own personal information and vehicle type.
The car, truck, or SUV you are buying coverage for is probably the largest consideration when shopping around for the best auto insurance for college graduates. Vehicles with high performance, a lack of modern safety features, or a history of substantial liability claims will cost more to insure than more economical and safe models.
The data below presents auto insurance premiums for some of the more affordable automobiles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Edge SE 2WD | $1,481 |
| Toyota Prius | $1,492 |
| Toyota Tacoma 4WD | $1,513 |
| Honda Accord LX 4-Dr Sedan | $1,521 |
| Honda CR-V EX 4WD | $1,560 |
| Ford Escape Limited 2WD | $1,568 |
| Ford F-150 XL Regular Cab 2WD | $1,591 |
| Toyota RAV4 Sport 4WD | $1,596 |
| Chevrolet Malibu LT | $1,625 |
| Dodge Grand Caravan SXT | $1,633 |
| Ford Explorer Limited 4WD | $1,625 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,644 |
| Toyota Corolla XLE | $1,683 |
| Start Your Quote Go | |
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price estimates do not factor in specific garaging location which can lower or raise premiums considerably.
Based upon the table data, you can see that cars like the Ford Edge, Toyota Prius, Toyota Tacoma, Honda Accord, and Honda CR-V are going to be a few of the cheapest vehicles to insure for college grads.
Poor driving habits will raise your car insurance rates
The obvious way to find the best car insurance premiums for college grads is to drive safe and avoid accidents and traffic violations. The diagram below shows how traffic citations and fender-benders can raise auto insurance rates for different ages of insureds. Data assumes a single female driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of a car insurance policy in Colorado per year with no accidents or violations is $1,754. Receive one speeding ticket and the average cost hikes up to $1,986, an increase of $233 each year. Now add in two accidents along with the one speeding ticket and the yearly cost of car insurance for college graduates jumps again to an average of $4,002. That’s an increase of $2,248, or $187 per month, just for not keeping your driving record clean!
Discounts on Denver insurance rates
Insurance companies that provide coverage for college graduates may provide policy discounts that could lower prices by as much as 40% or more if you meet specific criteria. A few popular companies and their offered discounts are included below.
- State Farm includes discounts for student away at school, passive restraint, accident-free, anti-theft, and good driver.
- Progressive has discounts for homeowner, online signing, continuous coverage, multi-policy, and good student.
- Progressive may offer discounts for online quote discount, online signing, multi-vehicle, multi-policy, and homeowner.
- MetLife offers discounts including good driver, multi-policy, accident-free, defensive driver, claim-free, good student
- Farm Bureau has savings for youthful driver, multi-vehicle, driver training, 55 and retired, good student, renewal discount, and safe driver.
- GEICO offers discounts for emergency military deployment, seat belt use, driver training, good student, daytime running lights, and multi-vehicle.
- SAFECO discounts include teen safe driver, homeowner, bundle discounts, anti-theft, teen safety rewards, multi-car, and drive less.
The illustration below illustrates the comparison of yearly insurance costs with and without discounts applied to the rates. The prices are based on a male driver, no tickets, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with anti-theft, homeowner, safe-driver, marriage, vehicle safety, and accident-free discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on car insurance for college graduates is 28% or $458.
Ideas for buying cheaper car insurance for college graduates
The list below details some of the better money-saving ideas that can help you locate low-cost car insurance.
- Claim-free drivers earn discounts
- Do not get traffic tickets
- Avoid accidents
- Drop full coverage on older vehicles
- Higher comprehensive and collision coverage deductibles will save money
- Compare rate quotes often
The last suggestion is especially significant, as we stressed in the article above. Car insurance rates in Denver can change significantly in a year, so drivers shouldn’t be reluctant to switch carriers if you can find a cheaper rate.
Many drivers prefer to stick with one company, but it’s not a great idea if it’s costing you hundreds of dollars a year. In just a few minutes you could shop around and find cheaper insurance for college graduates.