Cheap Insurance for a Toyota Corolla in Colorado

Your chances of buying cheap insurance for a Toyota Corolla in Colorado depends upon many rating factors like your birth date, where your vehicle is garaged, and if you have tickets or violations. Drivers on average pay around $1,300 annually to insure their Corolla, but that policy rate is a valuation based on rates for a 30-year-old single male driver that included full coverage including both comprehensive and collision and $100 deductibles.

It’s more than likely that you may not be 30 years old (or even male), possibly married instead of single, and you don’t want the same coverages and limits as the example. Each driver has unique rating factors, so the most reliable way to find the most affordable coverage for your Toyota is to comparison shop your policy at each renewal.

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The trim level of your Toyota will most likely have an effect on price, so the price you will pay to insure a Corolla LE trim level will cost $44 less than the insurance cost for the more well-appointed Corolla XRS model, as shown in the prices below.

Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Price information does not factor in garaging location in Colorado which can alter insurance rates greatly.

Trying to buy cost effective auto insurance is hard enough, and finding out which company has the cheapest car insurance rates for a Toyota Corolla requires a little more work. Each insurer uses different criteria for determining rates in each state, so let’s begin by taking a look at the lowest cost car insurance companies in Colorado.

It’s a good idea to know that Colorado car insurance rates are impacted by many things which can substantially decrease or increase the policy price. Simply having a birthday, getting married, or having an at-fault accident can cause premium changes that may make certain companies affordable when they were higher priced.

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The Hartford offers some of the lowest car insurance rates in Colorado at around $859 a year. Grange, USAA, Nationwide, and Auto-Owners also make the cut as some of the most economical Colorado insurance companies.

In the above example, if you currently have a policy with Nationwide and switched to Grange, you might see savings of roughly $143. Insureds with Auto-Owners could save as much as $178 a year, and GEICO policyholders might cut rates by $209 a year.

Understand that those policy prices are averages across all drivers and vehicles in Colorado and and are not calculated with a specific rating modification for a Toyota Corolla. So the company that fits your age and vehicle best may not even be in the list of companies above. That is why you need to quote rates from many companies using your own driver data and vehicle information.

Impact of citations and accidents on Colorado insurance rates

A great way to snag affordable car insurance premiums in Colorado for a Corolla is to drive cautiously and not receive tickets or have accidents. The example below highlights how speeding tickets and accident claims can increase insurance rates for each different age group. Data assumes a single male driver, full coverage, $100 deductibles, and no discounts are applied.

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The data charted above shows the average cost of a car insurance policy in Colorado per year with no accidents or violations is $2,568. Receive one speeding ticket and the average cost surges to $2,892, an increase of $323 each year. Now throw in one accident along with the one speeding ticket and the yearly cost of car insurance for a Toyota Corolla increases to an average of $3,822. That’s an increase of $1,254, or $104 per month, just for being a careless driver!

Which major car insurance company is best?

When shopping for insurance for a Corolla, four companies you’ll want quotes from are State Farm, Progressive, Allstate, and Geico. The following table ranks some of the different features that are available for customers.