How Much Does Auto Insurance Cost for College Graduates in Colorado?

The vehicle requiring insurance is one of the largest considerations when consumers are trying to find cheap auto insurance for college graduates in Colorado. Vehicles with limited speed and performance, modern passenger safety features, or low incidents of liability claims will cost quite a bit less to insure than adrenaline junky models.

The next table ranks auto insurance prices for the most budget-friendly vehicles to buy insurance for.

Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Information does not factor in specific Colorado garaging location which can change coverage prices significantly.

By looking at the data, you can assume that models like the Ford Escape, Honda Accord, and Ford F-150 will be a few of the most budget-friendly vehicles to insure for college grads.

Finding good, cheap insurance is challenging, and figuring out which insurers offer the lowest-priced insurance rates for college graduates involves a little more work.

Each company has their own unique process for setting prices, so we need to take a look at the lowest cost insurance companies in Colorado.

Best Car Insurance Prices for Grads

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The Hartford generally has some of the lowest car insurance rates in Colorado at around $859 per year. Grange, USAA, Nationwide, and GEICO also make the cut as some of the cheaper Colorado auto insurance companies.

As the rates illustrate above, if you are a policyholder with USAA and switched to The Hartford, you might see an annual premium reduction of around $140. Customers with Nationwide could save as much as $250 a year, and GEICO insureds might see rate reductions of $282 a year.

To get a quick, customized rate comparison, click here to start your custom quote or click through to the companies below.

These rates are averages for all drivers and vehicles in Colorado and and are not calculated with a price discount for college graduates. So the insurer that can offer the best rates for your situation may not even be in the list of companies above. That is why you need to get auto insurance quotes using your own specific driver and vehicle information.

Insuring your vehicle with a good quality company can be difficult considering how many companies provide coverage in Colorado. The rank data shown below may help you decide which auto insurance companies to look at shopping prices with.

These rankings are for companies with a nationwide focus, so smaller companies that only insure vehicles in Colorado will not be included in this list. To get price quotes from these top insurers and more, just click here.

Top 10 Major Car Insurance Companies in Colorado Ranked by Customer Service

1. GEICO
2. State Farm
3. The Hartford
4. The General
5. Progressive
6. Allstate
7. AAA Insurance
8. American Family
9. Nationwide
10. Travelers

Top 10 Major Car Insurance Companies Overall in Colorado

1. USAA
2. American Family
3. State Farm
4. The Hartford
5. AAA Insurance
6. GEICO
7. The General
8. Titan Insurance
9. Progressive
10. Allstate

The example below shows how choosing a deductible can increase or decrease annual premium costs when trying to find cheap insurance for college graduates. Data assumes a single male driver, comprehensive and collision coverage, and no policy discounts are applied.

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As shown above, a 30-year-old driver could save $326 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $490 by changing to a $1,000 deductible. Young drivers, such as the 20-year-old example, could drop their prices up to $948 or more by using higher deductibles when buying full coverage.

If you make the decision to raise deductibles, it will be important to have enough spare savings to enable you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.

How to get cheap auto insurance for college graduates in Colorado

It’s not impossible to find cheaper rates, and here are some of the recommended thrifty ideas that can help you find low-cost coverage.

• Serious violations like DUI or reckless driving can increase rates dramatically
• Vehicles with good safety ratings have lower liability rates
• If possible, do not file small claims
• Remove physical damage coverage on older vehicles
• Avoid having at-fault accidents
• Bundle home and auto and earn a discount
• Keep rates low by shopping around frequently

That last piece of advice is notably valuable, as was noted in this write-up. Car insurance prices in Colorado fluctuate constantly, so don’t be afraid to buy a different policy if a cheaper price is available. Having a favorite company is fine, but it’s not a great idea if that loyalty ends up costing money that could be going to better use. In just a few minutes you could shop around to find cheaper car insurance for college graduates.

Cheap insurance quotes for college grads

Drivers have many ways to buy insurance in Colorado, but the most prevalent are either through an exlusive agent such as Liberty Mutual or Allstate, an independent or non-exclusive agent, or direct from companies such as Progressive or Geico.

You can use whichever method you prefer, but each is slightly different in how they provide rate quotes.

Independent insurance agents work for many companies and can provide price quotes from every one. Independent agents are appointed with more than one company and can give you a larger rate selection, which can help you get the best chance of finding a lower price. If you are not satisfied with one company, you can get a different policy and you can remain with the same agent.

A captive, or exclusive, agent is able to quote prices with just one company, examples being a State Farm or Farmers agent. They are unable to provide other companys’ prices, so it’s a good idea to get additional price quotes.

The final way is buying direct, which means you bypass an exlusive or independent agent and instead buy from a direct company like Progressive. Buying direct may be preferred by people who do not have a complex risk profile and have knowledge of what specific coverages and deductibles they need.

So which method is best to find cheap auto insurance for college graduates in Colorado? One answer would be buying from a direct car insurance company yields the cheapest rates because there is no agent taking a commission, but that is not always the case. A good argument could also be made that an independent agent can save the most money because they can quote many companies, but again, it’s not a sure thing. In the right set of circumstances, exclusive agents may have prices well below independent agents AND direct companies.

Because it’s impossible to say who has the best insurance rates, the one way to ensure the lowest rates is to get rate quotes and compare. Take some time and get rate quotes from all three to give yourself the best selection. For a list of companies offering online discounts in Colorado, click here to view.