Who Has Cheap Auto Insurance Quotes for 16 Year Olds in Colorado?

Our staff writers always rib each other than when writing about car insurance, the word affordable should never be used anywhere to describe car insurance rates. Unfortunately, cheap auto insurance for 16 year olds is not always easy to find. Don’t let that get you down, though, because we are going to show you some ways you can still get car insurance that is cheaper than what you are paying now.

Finding out which company quotes the most affordable auto insurance rates for 16 year olds involves a bit more work in order to find the most economical policy. Every car insurance company has a different process for setting prices, so let’s take a look at the auto insurance companies that tend to have lower prices in Colorado.

It’s a good idea to be aware that Colorado auto insurance rates are influenced by many factors that can increase the policy price. Turning one year older, moving to a new city, or getting caught speeding can produce rate changes that may make certain companies cheaper than competitors.

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The Hartford quotes some of the lowest car insurance rates in Colorado at around $859 per year. Grange, USAA, Nationwide, and GEICO also are some of the best Colorado insurance companies.

As shown in the rates above, if you currently have a policy with GEICO and switched to Grange, you could earn yearly savings of roughly $183. Customers with Auto-Owners may save as much as $198 a year, and Travelers policyholders might realize rate reductions of up to $249 a year.

To see if your current coverage is too expensive, click here to begin a quote or click through to the companies below.

It’s important to note that these premiums are averaged for all ages of drivers and types of vehicles and and are not calculated with a rate increase for 16 year olds. So the car insurance company that has the lowest price for you may not even be in the list of companies above. That underscores the importance of why you need to get quotes using your own personalized driver profile and vehicle information.

One of the key criteria that auto insurance companies use to determine the price you pay for insurance is the neighborhood you call home in Colorado. More populated areas like Pueblo, Aurora, and Lakewood likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.

The information below shows the highest-priced areas in Colorado for 16 year olds in which to purchase auto insurance.

Annual rates are approximated as vehicle location can increase or decrease prices significantly.

Types of discounts on Colorado insurance

Insurance companies that provide cheap car insurance for 16 year olds in Colorado could also offer special discounts that can reduce rates by as much as 35% if you meet the requirements. A list of auto insurance companies and a partial list of their discounts are detailed below.

• Farm Bureau offers premium reductions for multi-vehicle, safe driver, good student, 55 and retired, youthful driver, and multi-policy.
• MetLife offers discounts for multi-policy, claim-free, good driver, accident-free, and good student.
• Progressive may offer discounts for online signing, multi-policy, continuous coverage, homeowner, good student, online quote discount, and multi-vehicle.
• AAA may have discounts that include pay-in-full, good student, multi-policy, AAA membership discount, and education and occupation.
• American Family has savings for multi-vehicle, air bags, early bird, Steer into Savings, bundled insurance, good driver, and mySafetyValet.
• GEICO discounts include anti-theft, air bags, daytime running lights, driver training, and emergency military deployment.
• State Farm offers discounts including safe vehicle, passive restraint, defensive driving training, driver’s education, good driver, multiple autos, and multiple policy.

The diagram below illustrates the difference between insurance costs with and without some available policy discounts. The costs are based on a female driver, no claims or violations, Colorado state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with passive restraint, continuous coverage, anti-theft, paperless filing, vehicle safety, and paid-in-full discounts applied. When drivers qualify for the discounts, the the amount saved on auto insurance for 16 year olds is 28% or $566.

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Progressive, Geico, Allstate, or State Farm: Which is best?

If you are shopping around for auto insurance for new drivers in Colorado, four companies you’ll want quotes from are Progressive, Geico, Allstate, and State Farm. They all offer different options that buyers can select from. The data below compares pricing and service ratings, plus some optional coverages you can expect with each one.

How to find economical auto insurance for 16 year olds

The list below summarizes some of the better thrifty ideas that can help you get cheap coverage.

• Save money by insuring your home and auto with the same company
• Do not pay for full coverage on older vehicles
• Good credit can mean cheaper rates
• If possible, pay for small claims out-of-pocket
• Increase the comprehensive and collision deductibles on your policy
• Buy vehicles with five-star safety ratings
• Shop around once a year for cheaper rates

That last idea is notably critical, as was affirmed in this write-up. Rates can be changed at any time, so drivers shouldn’t be reluctant to buy from a different company if you can find a cheaper rate. Having brand loyalty is commendable, but we do not recommend it if that dedication is costing lots of hard earned cash every month. It only take a few minutes to compare prices and find cheaper car insurance for 16 year olds.

Best cheap insurance quotes for new drivers

There are quite a few ways to quote and buy auto insurance in Colorado, but the most frequently used ways are from an independent agent, an exlusive agent such as Allstate or Liberty Mutual, or direct from companies such as Progressive or Geico.

They all have the same end result, but each is slightly different in how they work.

Independent agencies have contracts with many companies and can quote your policy with each one. They have the option to give you more rate choices, which can give you more bang for your buck. If they find a cheaper price, they simply switch companies in-house and you won’t have to switch agencies.

An exclusive agent is ‘exlusive’ to one company, two examples being a State Farm or Allstate agent. They are unable to shop your coverage around, so you will not be able to compare other companys’ rates.

If you choose to buy auto insurance direct, you do not use a local insurance agent and instead shop from a direct company like Geico. Buying direct can be good for people who do not have a need for a risk management assessment and know what coverages they need.

So out of those three methods, which one works best to find cheap car insurance for 16 year olds in Colorado? Most people would assume that buying from a direct car insurance company results in the cheapest rates because there is no agent taking a commission, but unfortunately, it’s not that cut and dried. We’d also like to say an independent agency saves the most money because they can quote many companies, but again, it’s not necessarily true. For some people, exclusive agents may have prices that cannot be met by either independent or direct companies.

Because there are so many factors that make up auto insurance rates, the guaranteed way to get the cheapest rates is to do a thorough rate comparison. Be sure to get price quotes from all three in order to have the best selection to choose from. For a list of companies with online discounts, click here to view.