Who Has the Cheapest Auto Insurance Quotes for High Risk Drivers in Colorado?

This article would sure be shorter if we could just tell you the one company that has the lowest rates in Colorado. It’s not quite that easy, unfortunately, as there are a whole slew of unknown elements such as if you need full coverage or just liability, whether you are single or married, and your vehicle’s safety rating, that all help calculate your car insurance rates. This article will detail the best ways to shop for cheaper coverage and will hopefully give you a jump start in finding the best auto insurance in Colorado.

For high risk drivers, one of the largest factors used to establish the amount you pay for auto insurance is where you normally keep your vehicle in Colorado. Urban areas that are densely populated like Pueblo, Aurora, and Lakewood tend to have more expensive auto insurance rates, whereas areas with less congestion benefit from lower prices.

The illustration below sorts the higher priced cities in Colorado for high risk drivers in which to purchase auto insurance.

Rate quotes are estimated as specific location information can change premium rates greatly.

Buying affordable insurance is not easy, and deciding which company offers the cheapest auto insurance rates for high risk drivers requires even more diligence. Premiums may be significantly pricier than the average price in Colorado attributed to the potentially higher risk associated with offering coverage for high risk drivers, but reasonable insurance may be achievable if you compare enough companies. Each company has their own process to determine premium rates, so first let’s look at the rankings for the most budget-friendly auto insurance companies in Colorado.

It’s important that you understand Colorado auto insurance rates are based on many factors which can substantially change the price you have to pay. Events such as a birthday, buying a home instead of renting, or getting into an accident may generate price changes resulting in some rates now being more affordable than competitors.

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google.charts.setOnLoadCallback(drawCOT5qcibChart);function drawCOT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘The Hartford’, 825, ‘#F08550’], [‘Grange’, 987, ‘#C86E42’], [‘USAA’, 1029, ‘#A65B37’], [‘Nationwide’, 1121, ‘#8A4B2D’], [‘GEICO’, 1141, ‘#733E25’]]);var options = {title: ‘Top Five Most Affordable Car 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:1241,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 generally has some of the best car insurance rates in Colorado at around $825 each year. Grange, USAA, Nationwide, and GEICO would also make the list of some of the cheaper Colorado auto insurance companies.

In the above example, if you have coverage with USAA and switched to The Hartford, you might realize an annual premium reduction of in the neighborhood of $204. Insureds with Nationwide might save as much as $296 a year, and GEICO policyholders might reduce rates by $316 a year.

Understand that those estimates are averaged for all drivers and vehicles and do not take into consideration a rate increase for high risk drivers. So the insurer that fits your situation best may not even be in the list of companies above. That helps illustrate why you need to get car insurance quotes using your own driver and vehicle profiles.

Careless drivers pay higher rates

The easiest way to enjoy the cheapest auto insurance for high risk drivers in Colorado is to pay attention while driving and avoid accidents and traffic citations. The diagram below shows how violations and fender-benders influence insurance costs for different insured age categories. The rate quotes are based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 2845,3099,3813],[‘Age 30’, 1911,2169,2881],[‘Age 40’, 1789,2047,2759],[‘Age 50’, 1565,1821,2535],[‘Age 60’, 1515,1769,2485],[‘Age 70’, 1791,2049,2759]]);var options = {title: ‘Impact of Tickets and Claims on Colorado Insurance Premiums’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],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);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data above shows the average cost of an auto insurance policy in Colorado per year with no violations or accidents is $1,903. Get one speeding ticket and the average cost surges to $2,159, an increase of $256 each year. Now add in one accident along with the one speeding ticket and the yearly cost of auto insurance for high risk drivers increases to an average of $2,872. That’s an increase of $969, or $81 per month, just for not maintaining a clean driving record!

Allstate, Progressive, State Farm, and Geico: Who is best?

If you want the best auto insurance for high risk drivers in Colorado, four companies to take a look at are Allstate, Progressive, State Farm, and Geico. The data below illustrates some of the different options offered by each one.

Who has the cheapest insurance quotes for high risk drivers?

Due to technology, there are many ways to purchase auto insurance in Colorado, but the most common ways are through a non-exclusive or independent agent, a captive (or exclusive) agent such as State Farm or Auto-Owners, or buying direct from a company like Geico or Progressive.

Each way has the same basic process, but they differ in how they price policies.

Independent agencies can place your business with multiple companies and can get rate quotes from every one. These types of agencies do not sell for just one brand and can provide you with more rate quotes, which may give you improved chances of finding a lower rate. If you are not satisfied with one company, they can switch companies in-house and you don’t have to find a new agent.

An agent who is captive is able to place business with a single company, for example State Farm and Auto-Owners agents. These guys and gals cannot provide prices from multiple companies, so it’s a good idea to shop around.

Opting to purchase auto insurance direct means you forego an independent or exclusive agent and instead buy from a direct company like Progressive or Geico. Buying auto insurance direct may be preferred by consumers who do not have a lot of assets and have some degree of understanding of what coverage limits and deductibles they need.

Which method is best to find the cheapest auto insurance for high risk drivers in Colorado? The obvious answer would be shopping direct results in the cheapest rates since there isn’t an agent involved, but that is not always the case. A valid argument could also be made that buying from an independent agent can save the most money since they can quote with many companies, but that is not necessarily true either. And occasionally, exclusive agents may have prices that are the cheapest.

Due to that fact that auto insurance uses so many rating variables, the guaranteed way to not overpay for auto insurance is to get as many comparison quotes as possible. To find the best rates, be sure to get price quotes from independent, exclusive, and direct to get an idea of which is cheapest. For a list of companies with online discounts, click here to view.

Find the cheapest auto insurance for high risk drivers in Colorado

Lowering your rates is not difficult, and here are some of the recommended thrifty suggestions that can help drivers get lower-cost car insurance.

• Increase your comprehensive and collision deductibles
• Having at-fault accidents will increase rates
• Try to pay small claims out-of-pocket
• Assess whether full coverage is needed
• Serious violations like DUI or reckless driving can increase rates dramatically
• Compare prices frequently to find the best deal

That final tip is certainly valuable, as we noted in this write-up. Auto insurance prices fluctuate constantly, so don’t be unwilling to buy a policy from a new company if you can find a cheaper rate.

Sticking with a specific company is fine, but it isn’t a good idea if that loyalty results in overpaying a considerable chunk of change every month. Take a few minutes and compare rates to find cheaper auto insurance for high risk drivers.