Best Cheap Auto Insurance for Drivers with Accidents in Colorado

Our content editors always give us grief that when writing about car insurance, the words cheap or affordable should never be used as a descriptor for auto insurance rates. It’s just a fact that cheap auto insurance for drivers with accidents just does not exist. But don’t let that discourage you, because there may be ways you can still find and buy auto insurance that doesn’t break your budget.

When shopping for cheaper auto insurance for drivers with at-fault accidents, one of the many criteria that is used to help calculate the policy price is where your residence is in Colorado. More populated areas like Pueblo, Denver, and Colorado Springs tend to pay more, whereas areas with lower crime rates and fewer weather claims receive better rates.

The following table illustrates the most costly cities in Colorado for drivers with accidents to purchase car insurance in.

Rate information is estimated as the specific garaging location can alter prices greatly.

Deciphering which company offers the most affordable insurance rates for drivers with accidents takes a tad more effort in order to find the best policy. Each insurance company has a unique formula for determining prices, so let’s look at the rankings for the overall cheapest insurance companies in Colorado.

It’s important to understand that Colorado insurance rates are impacted by many factors that may substantially change the policy premium. Getting older, buying a different home, or getting into an accident may prompt premium changes resulting in some companies being cheaper than before.

Best Auto Insurance Prices for Accident Prone Drivers

Click Here to Start Your Quote

google.charts.setOnLoadCallback(drawCOT5qcibChart);function drawCOT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘The Hartford’, 834, ‘#F05050’], [‘Grange’, 987, ‘#C84242’], [‘USAA’, 999, ‘#A63737’], [‘Nationwide’, 1121, ‘#8A2D2D’], [‘Travelers’, 1183, ‘#732525’]]);var options = {title: ‘Top Five Cheap Auto Insurance Companies in Colorado’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1283,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

The Hartford normally has some of the cheapest car insurance rates in Colorado at around $834 each year. Grange, USAA, Nationwide, and Travelers would also be considered some of the more affordable Colorado auto insurance companies.

As the rates illustrate above, if you have coverage with USAA and switched to The Hartford, you might realize annual savings of about $165. Colorado drivers with Nationwide might save as much as $287 a year, and Travelers customers might realize rate reductions of up to $349 a year.

It’s important to note that these premiums are averages for all drivers and vehicles in Colorado and are not factoring in a price increase for drivers with accidents. So the auto insurance company that has the cheapest rates for you may not even be in the company chart above. That’s why you need to get quotes using your own individual information.

Discounts on the best cheap car insurance for drivers with accidents in Colorado

Car insurance companies that offer coverage for drivers with accidents may also give you discounts that could reduce prices by as much as 30% if you meet the requirements. Popular insurance companies and their offered discounts include:

• AAA policyholders can earn discounts including good driver, education and occupation, pay-in-full, multi-policy, anti-theft, multi-car, and AAA membership discount.
• Progressive may have discounts that include multi-policy, continuous coverage, online signing, good student, and homeowner.
• State Farm may offer discounts for accident-free, student away at school, defensive driving training, good student, multiple policy, and safe vehicle.
• Esurance has discounts for emergency road assistance, paid-in-full, Switch & Save, online shopper, renters, defensive driver, and claim free.
• Nationwide offers discounts for easy pay, good student, anti-theft, Farm Bureau membership, business or organization, and multi-policy.

The example below shows the difference between premium costs with and without discounts applied to the rates. The prices are based on a male driver, no violations and one accident, Colorado state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, multiple vehicle, paperless filing, anti-theft, multiple policy, and paid-in-full discounts applied. When drivers take advantage of discounts, the average amount saved each year on insurance for drivers with accidents is 28% or $1,001.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Male Driver No Discounts’, ‘Male Driver with Discounts’],[‘Age 20’, 5535,3973],[‘Age 30’, 3243,2339],[‘Age 40’, 3235,2331],[‘Age 50’, 3023,2177],[‘Age 60’, 2953,2127],[‘Age 70’, 3409,2447]]);var options = {title: ‘Insurance Rate Comparison with Discounts for Drivers with Accidents’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9’, ‘#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Colorado’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Liability rates compared to full coverage

Finding the best cheap car insurance for drivers with accidents in Colorado is the goal of the majority of drivers, and one of the quickest ways to find cheaper insurance is to only buy liability insurance. The information below illustrates the comparison of auto insurance rates when comparing full coverage to liability only. The rate quotes are based on no accidents or driving violations, $100 deductibles, marital status is single, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 4665,1405],[‘Age 30’, 2373,771],[‘Age 40’, 2365,713],[‘Age 50’, 2151,669],[‘Age 60’, 2083,657],[‘Age 70’, 2537,879]]);var options = {title: ‘Full Coverage Rates Compared to Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Colorado’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If averaged out across all ages, physical damage insurance costs an extra $2,696 per year over and above liability only. At some point, about every driver wonders if buying full coverage is worth the money. There isn’t a steadfast formula of when to drop full coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

There are some situations where only buying liability is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage in place.

Is State Farm, Progressive, Geico, or Allstate cheaper?

When comparing auto insurance for drivers with at-fault accidents in Colorado, four companies to definitely compare rates with are State Farm, Progressive, Geico, and Allstate. All four offer physical damage and liability coverage, but each has unique features and discounts that may steer you one way or another. The data below compares and contrasts pricing and service ratings, as well as optional policy coverages that are available from each company.

Who has the cheapest insurance quotes for drivers with at-fault accidents?

There are many ways to comparison shop for insurance in Colorado, but the most preferred ways are through an independent agent, a captive (or exclusive) agent such as Auto-Owners or State Farm, or from a direct company like Geico or Progressive. They all have the same basic principle, but shoppers should understand the differences in how they work.

Independent agents work for many companies and can get policy pricing from every one. These types of agencies are not employed by one specific company and can give you more rate choices, which may provide you with a better chance of finding cheaper coverage. If your agent finds a cheaper company, your policy can be easily switched to a different company and you don’t have to find a new agent.

Exclusive agents are restricted to quoting rates for a single company, two of the more popular are Allstate or Farmers Insurance agents. They generally cannot quote prices from more than a single company, so you will not be able to compare multiple prices.

Direct insurance buyers skip a local insurance agent and buy buying direct from a company like Geico or Esurance. Buying direct may be preferred by consumers who do not have complex finances and have a good understanding of what coverage options they need.

So which of the methods works best for finding the best cheap car insurance for drivers with accidents in Colorado? The majority of insurance shoppers assume that buying direct saves the most money because you bypass the middleman, but unfortunately, it’s not that cut and dried. A good argument could also be made that using an independent agent results in the cheapest rates since there are more companies to choose from, but again, it’s not necessarily true. And sometimes, exclusive agencies have extremely competitive rates that are the lowest in Colorado.

Since insurance prices are based on many different factors, the best method to get the cheapest rates is to get quotes and compare. Set aside the time to get rate quotes from independent agents, exclusive agents, and direct companies to have a good selection of rates to choose from. To see some of the cheapest online companies available, click here to view.