Who Has the Cheapest Car Insurance Quotes for a Company Car in Colorado?

When shopping for insurance for your employer’s vehicle, one of the many considerations that impact the price of your policy is where you choose to live in Colorado. Cities that have higher claim levels or more people like Denver, Pueblo, and Northglenn tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents get the luxury of paying less.

The information below illustrates the highest-priced places in Colorado for a company car to buy an auto insurance policy in.

Rates are comparative as the specific Colorado residence address can lower or raise price quotes noticeably.

Finding dependable, low-priced insurance is challenging, and figuring out which companies have the lowest-priced auto insurance rates for a company car may require even more shopping around. Each company uses a slightly different approach for establishing rates, so let’s begin by taking a look at the most affordable auto insurance companies in Colorado.

It’s a good idea to know that Colorado auto insurance rates are influenced by many factors which can substantially decrease or increase the policy premium. That is why it is critical to compare as many rates as possible when trying to find the most affordable car insurance quotes for a company car. Auto insurance prices are determined by many different factors and can increase or decrease at any time, so the most economical option the last time you compared rates may now be one of the more expensive options.

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The Hartford offers some of the best car insurance rates in Colorado at around $834 each year. Grange, USAA, Nationwide, and GEICO would also make the list of some of the lowest-priced Colorado car insurance companies.

As the example above demonstrates, if you are a policyholder with Nationwide and switched to Grange, you could realize an annual premium reduction of in the vicinity of $172. Customers with GEICO could save as much as $192 a year, and Travelers policyholders might reduce rates by $222 a year.

Be aware that those premiums are averaged across all drivers and vehicles in Colorado and and are not calculated with a rate discount for a company car. So the car insurance company that has the cheapest rates for you may not even be included in the above rate chart. That helps illustrate why you need to quote rates from many companies using your own personal information and vehicle type.

Does it make sense to buy full coverage?

Finding the cheapest car insurance for a company car in Colorado is probably important to the majority of vehicle owners, and a great way to find cheaper insurance is to only pay for liability coverage. The information below shows the difference between insurance prices with full physical damage coverage compared to only buying liability only. The premium estimates are based on no claims or violations, $250 deductibles, drivers are single, and no additional discounts are factored in.

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As an average, physical damage insurance costs an extra $2,465 per year more than just buying liability only. That is a large expense which might make you wonder if you should buy full coverage at all. There isn’t a steadfast formula to delete comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.