The type of vehicle that is being insured is one of the largest factors when trying to find low-cost coverage for drivers over age 70. Vehicles with high performance features, poor safety ratings, or a track record of large liability claims will cost substantially more to insure than safer, lower-performance models.
The next list outlines coverage costs for some of the most affordable automobiles to insure in Colorado.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,613 |
| Honda CR-V EX 4WD | $1,637 |
| Ford Escape Limited 4WD | $1,740 |
| Toyota Prius | $1,767 |
| Dodge Grand Caravan CV | $1,804 |
| Toyota Tacoma 4WD | $1,814 |
| Ford F-150 XL Regular Cab 4WD | $1,804 |
| Toyota RAV4 Limited 2WD | $1,907 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,915 |
| Chevrolet Malibu LT | $1,934 |
| Ford Explorer Eddie Bauer AWD | $1,944 |
| Honda Civic EX 4-Dr Sedan | $1,985 |
| Ford Focus SEL 4-Dr Sedan | $1,991 |
| Honda Odyssey EX-L W/Rear Entertainment | $2,009 |
| Ford Edge Sport 2WD | $2,014 |
| Toyota Camry XLE | $2,009 |
| Chevrolet Impala LTZ | $2,018 |
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Data assumes single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate information does not factor in vehicle garaging location which can lower or raise coverage prices substantially.
Based upon the rates shown, models like the Hyundai Elantra, Honda CR-V, Ford Escape, Toyota Prius, and Dodge Grand Caravan should be a few of the cheapest vehicles to insure for older drivers. The cost of auto insurance will tend to be more expensive anyway because of the fact that there is more liability risk for drivers over age 70, but overall those particular vehicles will probably have the least expensive rates that you are likely to find.
For older drivers, one of the big things that are used to help calculate the price you pay for insurance is where your residence is in Denver. Areas with more people or higher crime rates tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the benefit of cheaper auto insurance prices.
The next table lists the most expensive places in Colorado for drivers over age 70 to buy an auto insurance policy in. Denver is ranked at #2 with the annual price of $1,425 for the average insured, which is about $119 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Denver | $1,425 |
| 3 | Aurora | $1,403 |
| 4 | Lakewood | $1,365 |
| 5 | Commerce City | $1,354 |
| 6 | Colorado Springs | $1,329 |
| 7 | Centennial | $1,304 |
| 8 | Security-Widefield | $1,291 |
| 9 | Northglenn | $1,290 |
| 10 | Brighton | $1,285 |
| 11 | Ken Caryl | $1,274 |
| 12 | Westminster | $1,272 |
| 13 | Thornton | $1,268 |
| 14 | Arvada | $1,256 |
| 15 | Littleton | $1,254 |
| 16 | Highlands Ranch | $1,241 |
| 17 | Parker | $1,233 |
| 18 | Castle Rock | $1,211 |
| 19 | Broomfield | $1,167 |
| 20 | Boulder | $1,159 |
| 21 | Greeley | $1,144 |
| 22 | Longmont | $1,144 |
| 23 | Grand Junction | $1,120 |
| 24 | Loveland | $1,096 |
| 25 | Fort Collins | $1,067 |
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Premium costs are approximated as specific Denver garaging address can change prices noticeably.
Determining which company has the most affordable insurance rates for drivers over age 70 calls for more time than just picking a company at random. Each company uses a different method to determine premium rates, so we’ll take a look at the insurance companies that tend to be cheaper in Denver, CO.
Best Insurance Companies for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $859 |
| 2 | Grange | $987 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,109 |
| 5 | Auto-Owners | $1,168 |
| 6 | GEICO | $1,176 |
| 7 | Travelers | $1,183 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,376 |
| 11 | Amica | $1,394 |
| 12 | Allied | $1,483 |
| 13 | California Casualty | $1,502 |
| 14 | Farmers | $1,629 |
| 15 | Colorado Farm Bureau | $1,640 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,231 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,630 |
| Get a Custom Quote Go | ||
The Hartford may have some of the cheapest car insurance rates in Denver at around $859 annually. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also some of the cheapest Denver, CO car insurance companies.
In the rate table above, if you currently buy coverage from Grange and switched to The Hartford, you could realize an annual premium reduction of upwards of $128. Drivers with USAA could save as much as $170 a year, and Nationwide policyholders might see rate reductions of $250 a year.
To find cheaper insurance rates for your vehicle, click here to get a free quote or feel free to get quotes from the companies below.
Remember that these premium estimates are averaged for all insureds and vehicles and and are not calculated with an exact location for drivers over age 70. So the insurer that is best suited for you may not even be in the list above. That underscores the importance of why you need to get car insurance quotes using your own driver and vehicle profiles.
Cost of full coverage
Finding the cheapest insurance is the goal of most drivers, and one of the fastest ways to find cheap insurance for drivers over age 70 is to buy liability only. The illustration below shows the comparison of insurance premiums with full coverage and liability only. The premiums assume no claims or violations, $100 deductibles, marital status is single, and no policy discounts are applied.
If all age groups are averaged, full coverage costs an extra $2,743 per year more than insuring for liability only. That raises the question when is the right time to remove full coverage. There isn’t a written rule of when to stop paying for physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $6,500 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $5,500 after the policy deductible has been paid. If you are paying in excess of $550 annually for your policy with full coverage, then you might consider buying liability only.
There are a few situations where buying only liability insurance is not a good plan. If you still owe money on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage.
Get discounts on Denver auto insurance rates
Insurance providers that offer coverage for drivers over age 70 could also offer discounts that can lower rates by 35% or more if you qualify. Large insurance companies and a partial list of their discounts are included below.
- State Farm includes discounts for student away at school, good driver, anti-theft, multiple autos, and Steer Clear safe driver discount.
- GEICO may have discounts that include federal employee, anti-lock brakes, daytime running lights, defensive driver, membership and employees, and emergency military deployment.
- Allstate offers premium reductions for early signing, anti-theft, FullPay discount, EZ pay plan discount, and new car.
- SAFECO offers discounts for teen safe driver, multi-car, drive less, bundle discounts, teen safety rewards, and anti-lock brakes.
- Farm Bureau offers discounts including 55 and retired, youthful driver, renewal discount, good student, and driver training.
- Progressive has discounts for homeowner, good student, continuous coverage, online quote discount, multi-policy, multi-vehicle, and online signing.
- AAA may include discounts for education and occupation, AAA membership discount, anti-theft, multi-policy, good driver, and multi-car.
The information below illustrates the difference between annual premium costs with and without discounts. The premiums are based on a female driver, no accidents or driving violations, Colorado state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with marriage, vehicle safety, defensive driving course, multiple policy, homeowner, and claim-free discounts applied. With discounts applied, the average savings per year on insurance for drivers over age 70 is 28% or $662.
Buying coverage from the best auto insurance company is hard considering how many choices drivers have in Colorado. The company ratings shown next could help you analyze which car insurance providers you want to consider buying from. These rankings are only made up of companies who write in the majority of U.S. states, so companies that have a smaller presence are not factored into these rankings.
Top 10 Large Auto Insurance Providers in Denver Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Progressive – A+
- Titan Insurance – A+
- The Hartford – A+
If you like to have some professional guidance when trying to find lower insurance rates for drivers over age 70, the insurance agencies below can most likely provide answers to your questions and help you determine which policy is best.
To locate an agency close to you, click the link after the list.
- Longevity Insurance Brokers
100 Fillmore St – Denver, CO 80206 – (720) 209-4598 - Farmers Insurance – Greg Delgado
2839 Wyandot St – Denver, CO 80211 – (720) 588-4111 - Madison Insurance Group
600 S Cherry St #900 – Denver, CO 80246 – (800) 636-6185 - Mile High Insurance Agency
4704 Harlan St #360 – Denver, CO 80212 – (303) 237-5445 - Nationwide Insurance: Lloyd Pro Group Agency
1400 S Columbine St – Denver, CO 80210 – (970) 230-3020