Trying to buy cost effective auto insurance is difficult, and deciding which company offers the most affordable car insurance rates for infrequent drivers calls for even more perseverance. Each auto insurance company has a unique formula for filing rates in each state, so first we will examine the car insurance companies with the overall cheapest rates in Colorado.
It’s important to know that Denver car insurance rates are based on many factors which can substantially change the price you have to pay for coverage. Events like turning one year older, buying a home, or getting a DUI can cause premium changes that can cause some rates to be more expensive than competitors.
Cheapest Insurance Rates in Colorado
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $987 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,121 |
| 5 | GEICO | $1,176 |
| 6 | Travelers | $1,183 |
| 7 | Auto-Owners | $1,192 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,336 |
| 11 | Amica | $1,381 |
| 12 | California Casualty | $1,488 |
| 13 | Allied | $1,497 |
| 14 | Farmers | $1,581 |
| 15 | Colorado Farm Bureau | $1,640 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,076 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,472 |
| 20 | Titan | $2,630 |
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The Hartford has some of the cheapest car insurance rates in Denver at around $834 each year. This is $744 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also make the cut as some of the most economical Denver, CO auto insurance companies.
As shown above, if you are a policyholder with USAA and switched to The Hartford, you may see an annual premium reduction of around $165. Insureds with Nationwide could save as much as $287 a year, and GEICO customers might reduce prices by as much as $342 a year.
Remember that these estimates are averages for all drivers and vehicles and and are not calculated with a vehicle location for infrequent drivers. So the insurer that fits your situation best may not even be in the list above. That points out the importance of why you need to compare prices as often as possible using your own personal information and vehicle type.
One of the many criteria that aid in calculating the cost of insurance is where you keep your car. More populated areas likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The table below sorts the most costly cities in Colorado for infrequent drivers to buy auto insurance in. Denver is listed at #1 with a yearly cost of $1,439 for car insurance, which is about $120 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Denver | $1,439 |
| 2 | Pueblo | $1,412 |
| 3 | Aurora | $1,403 |
| 4 | Commerce City | $1,354 |
| 5 | Northglenn | $1,342 |
| 6 | Colorado Springs | $1,329 |
| 7 | Lakewood | $1,324 |
| 8 | Centennial | $1,317 |
| 9 | Ken Caryl | $1,313 |
| 10 | Security-Widefield | $1,304 |
| 11 | Thornton | $1,281 |
| 12 | Highlands Ranch | $1,267 |
| 13 | Parker | $1,257 |
| 14 | Arvada | $1,256 |
| 15 | Littleton | $1,254 |
| 16 | Brighton | $1,235 |
| 17 | Westminster | $1,234 |
| 18 | Castle Rock | $1,211 |
| 19 | Boulder | $1,207 |
| 20 | Longmont | $1,168 |
| 21 | Broomfield | $1,167 |
| 22 | Greeley | $1,122 |
| 23 | Grand Junction | $1,120 |
| 24 | Loveland | $1,096 |
| 25 | Fort Collins | $1,067 |
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Rate quotes are comparative as zip code location can decrease or increase auto insurance rates greatly.
The vehicle requiring coverage is one of the main factors when comparing economical car insurance for infrequent drivers. Vehicles with reasonable performance levels, excellent safety ratings, or a low likelihood of liability claims will cost less to insure than higher performance models.
The next table outlines insurance rates for a number of the cheaper vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,335 |
| Chevrolet Equinox LT 2WD | $1,579 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,587 |
| Toyota RAV4 4WD | $1,579 |
| Ford Escape Limited 4WD | $1,590 |
| Dodge Grand Caravan Crew | $1,611 |
| Toyota Prius | $1,624 |
| Honda Odyssey LX | $1,655 |
| Ford F-150 Lariat Crew Cab Harley 2WD | $1,697 |
| GMC Sierra SLE Crew Cab 4WD | $1,703 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,697 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,707 |
| Ford Fusion SEL 4-Dr Sedan | $1,697 |
| Dodge Ram Quad Cab ST 4WD | $1,720 |
| Ford Focus S 4-Dr Sedan | $1,738 |
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Rates do not factor in specific zip code location which can alter coverage rates substantially.
Based upon the rates shown, we can presume that makes and models like the Honda CR-V, Chevrolet Equinox, Chevrolet Silverado, and Toyota RAV4 are a few of the more affordable vehicles to insure for low mileage drivers.
Careless driving habits raise Denver car insurance rates
The easiest way to maintain cheap car insurance rates for low mileage drivers is to drive cautiously and avoid getting tickets or having accidents. The chart below illustrates how traffic citations and accident claims can affect insurance costs for different categories of driver ages. The costs are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of an auto insurance policy in Colorado per year with a clean driving record and no accidents is $1,845. Receive two speeding tickets and the average cost surges to $2,442, an increase of $598 each year. Now throw in two accidents along with the two speeding tickets and the 12-month cost of car insurance for infrequent drivers jumps again to an average of $4,648. That’s an increase of $2,804, or $234 per month, just for not driving responsibly!
Get discounts on Denver auto insurance rates
Insurance providers that provide coverage for infrequent drivers may also offer discounts that could potentially reduce rates by as much as 35% if you are eligible to receive them. Companies and their offered discounts include:
- Progressive includes discounts for multi-vehicle, online quote discount, multi-policy, good student, continuous coverage, homeowner, and online signing.
- Farmers Insurance offers discounts including early shopping, business and professional, distant student, teen driver, and multi-car.
- Farm Bureau may offer discounts for driver training, youthful driver, safe driver, multi-vehicle, and 55 and retired.
- State Farm discounts include good student, Steer Clear safe driver discount, safe vehicle, multiple autos, and accident-free.
- GEICO may include discounts for anti-lock brakes, driver training, five-year accident-free, air bags, seat belt use, and membership and employees.
- SAFECO offers discounts for drive less, teen safe driver, teen safety rewards, safe driver, anti-theft, and homeowner.
- Liberty Mutual has discounts for new graduate, new vehicle discount, multi-car, new move discount, newly retired, exclusive group savings, and newly married.
The diagram below illustrates the comparison of insurance prices with and without some available policy discounts. The information is based on a male driver, no driving violations, no at-fault accidents, Colorado state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with homeowner, marriage, accident-free, anti-theft, safe-driver, and vehicle safety discounts applied. When discounts are factored in, theaverage amount saved on car insurance for infrequent drivers is 28% or $508.
The example below shows how choosing a deductible can impact insurance costs when getting quotes for cheap insurance for infrequent drivers. The price estimates are based on a married male driver, full physical damage coverage, and no discounts are factored in.
The data above shows that a 50-year-old driver could pocket $340 a year by switching from a $100 deductible to a $500 deductible, or save $514 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could lower their rates as much as $1,138 each year just by choosing higher deductibles.
When raising deductibles, it will now be necessary to have plenty of savings on hand to satisfy the extra out-of-pocket expense that is associated with using high deductibles.
Shop around and save
Colorado car insurance rates are based on many factors that control the cost of having a policy. Improving your credit rating, buying a new vehicle, or getting a driving violation can trigger changes in premium that can make some companies much cheaper than others. And not only may your rating factors change, but insurance companies amend pricing multiple times each year in order to be able to pay unexpected claims. Significantly higher claims can result in higher prices, while profitable underwriting may result in lower-priced Denver car insurance rates.
For instance, the chart below shows the cheapest car insurance in Denver, CO for a 40-year-old female driver with no prior claims, no tickets, and a good credit history. If we compare prices based on her personal profile, The Hartford might quote the lowest car insurance rates in Denver at $1,074 a year. This is $504 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the top five cheapest Denver, CO auto insurance companies.
In this example, we will give the driver from the first example a claim surcharge, a lower credit rating, and an imperfect driving record. Because each insurer uses their own calculation for establishing rates, comparing prices could now result in a substantially altered list of companies as shown below.
Auto-Owners now has the best price on car insurance in Denver with State Farm, American Family, Grange, and Amica completing the list. This demonstrates why Colorado drivers need to compare lots of rates when trying to get the most budget-friendly car insurance quotes for infrequent drivers. Prices are influenced by many factors and change frequently, so the best option a year ago may now be quite expensive.