For foreigners, one of the big factors that determine car insurance rates is where your residence is in Denver. More populated areas will most likely pay more, whereas areas with less crime or weather claims have the benefit of cheaper auto insurance prices.
The next table lists the highest-priced areas in Colorado for immigrants to buy car insurance in. Denver makes the list at #2 having an annual price of $1,383 for the average insured, which is about $115 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Denver | $1,383 |
| 3 | Lakewood | $1,378 |
| 4 | Aurora | $1,375 |
| 5 | Colorado Springs | $1,329 |
| 6 | Commerce City | $1,314 |
| 7 | Thornton | $1,307 |
| 8 | Security-Widefield | $1,304 |
| 9 | Northglenn | $1,303 |
| 10 | Centennial | $1,278 |
| 11 | Ken Caryl | $1,274 |
| 12 | Castle Rock | $1,261 |
| 13 | Parker | $1,257 |
| 14 | Arvada | $1,256 |
| 15 | Littleton | $1,254 |
| 16 | Westminster | $1,246 |
| 17 | Highlands Ranch | $1,241 |
| 18 | Brighton | $1,235 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,171 |
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Premium costs are estimated as the garaging address in Denver can lower or raise premium rates noticeably.
The vehicle model you are seeking coverage for is probably the largest consideration when consumers are trying to find the most economical auto insurance for immigrants. Vehicles with high performance features, a lack of safety features, or high incidents of liability claims will cost substantially more to insure than safer, lower-performance models.
The data below estimates coverage premiums for a selection of the more affordable automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,335 |
| Hyundai Elantra SE Touring Station Wagon | $1,446 |
| Honda Accord LX-P 4-Dr Sedan | $1,459 |
| Toyota Prius | $1,478 |
| Honda CR-V LX 2WD | $1,501 |
| Toyota Camry LE | $1,579 |
| Toyota RAV4 Sport 2WD | $1,584 |
| Dodge Grand Caravan Hero | $1,579 |
| Toyota Tacoma Double Cab 4WD | $1,610 |
| Ford Explorer Limited 4WD | $1,620 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,610 |
| Volkswagen Jetta SE 4-Dr Sedan | $1,696 |
| Chevrolet Silverado LT Crew Cab 4WD | $1,704 |
| Dodge Ram Quad Cab TRX4 Off Road 2WD | $1,720 |
| Jeep Grand Cherokee Laredo 4WD | $1,730 |
| Chevrolet Silverado 3500HD LTZ Crew Cab 2WD | $1,756 |
| Chevrolet Malibu Hybrid | $1,777 |
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Prices based on 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, claim-free, homeowner, and multi-vehicle. Premium costs do not factor in Denver, CO location which can affect rates significantly.
Based upon the rates shown, you can figure that vehicles like the Ford Escape, Hyundai Elantra, Honda Accord, Toyota Prius, and Honda CR-V are the most economical vehicles to insure for foreigners.
Shopping around for affordable car insurance is not always easy, and finding out which company quotes the best car insurance rates for immigrants calls for even more diligence.
Every insurance provider has a proprietary formula to determine rates, so to begin we’ll rank the car insurance companies that tend to have lower prices in Colorado. It’s a good idea to know that Colorado car insurance rates are impacted by many factors which can substantially change the cost of your policy. Price variation is why it is critical to shop around when trying to get the most budget-friendly car insurance rates for immigrants. Auto insurance prices consist of many different factors and change dramatically, so the lowest-price company the last time you checked may now be an over-priced policy.
Best Cheap Insurance Rates for Migrants
The Hartford has some of the most affordable car insurance rates in Denver at around $859 each year. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also make the cut as some of the best Denver, CO car insurance companies.
In the rate table above, if you currently buy coverage from GEICO and switched to Grange, you could realize a yearly price reduction of about $203. Insureds with Nationwide might save as much as $206 a year, and Auto-Owners policyholders might cut rates by $219 a year.
To see if your current coverage is too expensive, click here to begin a quote or quote rates from the companies below.
Understand that those premiums are averages across all insureds and vehicles and do not factor in an exact vehicle garaging location for immigrants. So the car insurance company that can offer the best rates for your situation may not even be in the list above. That points out the importance of why you need to get rate quotes using your own personal information and vehicle type.
Full coverage rates vs. liability-only in Denver
Finding the cheapest car insurance is probably important to the majority of people, and an effective way to buy cheap insurance for immigrants is to not buy full coverage. The diagram below illustrates the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The data assumes a clean driving record, no claims, $250 deductibles, single status, and no discounts are taken into consideration.
If averaged out across all ages, comprehensive and collision coverage on your policy costs an extra $2,508 per year more than just insuring for liability. That is a big expense that brings up the question when is the right time to remove full coverage. There is no definitive formula that is best for determining when to drop comp and collision coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
There are some circumstances where buying only liability insurance is not recommended. If you haven’t paid off your loan, you have to keep full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not buy liability only.
How to find a good Denver car insurance company
Buying coverage from the best company is hard considering how many different companies insure vehicles in Denver. The company ratings in the lists below can help you pick which companies to look at comparing prices from. The rankings below only include companies with a nationwide focus, so companies that have a smaller presence will not be included in this list.
Top 10 Major Auto Insurers Overall in Denver
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Allstate
The information below illustrates how choosing a deductible can influence annual premium costs when getting quotes for cheap insurance for immigrants. The premiums are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
As shown above, a 50-year-old driver could lower their car insurance rates by $290 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $436 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, can save as much as $948 each year by choosing larger deductibles on their policy.
When raising deductibles, it is important to have enough savings set aside to enable you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Why you should be comparing rates
Colorado car insurance rates are impacted by many things which can substantially change the policy premium. Simply having a birthday, having a teen driver, or getting a couple of tickets may generate price changes that can make some companies affordable when they were higher priced. In addition, car insurance companies file new Colorado car insurance rates as needed in order to remain profitable. Higher than normal claim frequency or severity may cause rate hikes, while lower claims may result in more affordable Denver car insurance rates.
For instance, the bar chart below shows the company with the cheapest car insurance in Denver, CO for a 45-year-old male driver with no accidents, a clean driving record, and a decent credit rating. When quoting prices based on his current risk factors, The Hartford may offer the lowest car insurance rates in Denver at $1,084 annually. This is $494 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are the remaining most affordable Denver, CO auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example a chargeable claim, bad credit, and a few traffic violations. Because each company has a unique approach for setting rates, analyzing rate quotes most likely will result in a different list of affordable Denver car insurance companies as shown below.
State Farm now has the cheapest auto insurance in Denver with Travelers, American Family, Grange, and USAA completing the list. This shows why it is so important to shop around with many companies to find affordable insurance quotes for immigrants. Prices consist of many factors and can increase or decrease at any time, so the most affordable company when you last compared rates may now not even be in the top five.
The Denver, CO, insurance agents below can most likely help you determine which coverage meets your needs best, as lots of people like to get some guidance when shopping for the best coverage for foreigners. It can be difficult to find the cheapest rates, so a professional agent can provide you satisfaction knowing you have sufficient coverage for your assets. To locate a Denver insurance agent close to where you live, click the link at the bottom.
- Dagley Insurance and Financial Services Inc
2055 S Federal Blvd – Denver, CO 80219 – (303) 975-1229 - All Insurance Agency
67 Knox Ct – Denver, CO 80219 – (303) 935-3661 - Madison Insurance Group
600 S Cherry St #900 – Denver, CO 80246 – (800) 636-6185 - Don Middleton – State Farm Insurance Agent
1900 Wazee St #1538 – Denver, CO 80202 – (303) 595-5500