Cheap Insurance Quotes for a Toyota Tacoma in Colorado

Our editors always tell us that when writing about auto insurance, the words cheap or affordable should never be used anywhere to describe car insurance rates. Be that as it may, cheap car insurance for a Toyota Tacoma can be difficult to find. But don’t despair, because we are going to show you some ways you can still get coverage that may not be cheap, but it is affordable.

Your ability to find cheap insurance for a Toyota Tacoma in Colorado depends on a lot of factors such as your vehicle’s safety rating, your credit rating, and driving violations. Drivers pay around $930 every 12 months for Tacoma insurance, but that price is a valuation that uses rate data for a 40-year-old married female with full coverage including both comprehensive and collision and $500 deductibles.

But there is a high probability that you may not be 40 years old (or even female), possibly single instead of married, or maybe you have a teenager that needs to be on your policy. Having different needs demonstrates why the most reliable way to find affordable rates for your Toyota is to compare as many rates as possible.

Insure Your Toyota for Less

Vehicle trim level will influence the cost of insurance, so the price to insure a Tacoma 2WD trim level will be $48 less expensive the price to insure the more expensive Tacoma Double Cab TRD Sport Package 4WD version, as shown in the prices below.

Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Premium costs do not factor in vehicle location which can alter premium rates greatly.

Finding reliable, low-priced car insurance is challenging, and determining which insurers offer the most affordable insurance rates for a Toyota Tacoma requires a bit more work. Every auto insurer uses a different method for setting rates, so let’s begin by taking a look at the insurance companies with the overall cheapest rates in Colorado.

It’s a good idea to know that Colorado insurance rates are based on many factors that control the price you have to pay. Price variation is why consumers need to shop around with many companies to find affordable auto insurance rates for a Toyota Tacoma. Rates consist of many risk factors and change frequently, so the most economical company the last time you shopped your coverage around may now be wasting a lot of money.

Cheap Insurance Rates for Your Tacoma

Get a Free Quote and Save

The Hartford may offer some of the best car insurance rates in Colorado at around $850 a year. Grange, USAA, GEICO, and Nationwide also rank well as some of the lowest-priced Colorado insurance companies.

As shown above, if you currently have coverage with GEICO and switched to Grange, you might achieve annual savings of about $154. Insureds with Nationwide may save as much as $168 a year, and Auto-Owners insureds might reduce prices by as much as $205 a year.

To find cheap insurance for a Toyota Tacoma in Colorado for your vehicle, click here to start your custom quote or quote rates from the companies below.

Understand that those premiums are averaged across all ages of drivers and types of vehicles and do not take into consideration a specific rating modification for a Toyota Tacoma. So the car insurance company that fits you best may not even be shown in the above list. That helps illustrate why you need to quote rates from as many companies as possible using your own individual information.

Rate comparison of full coverage and liability-only

Finding cheap insurance for a Toyota Tacoma in Colorado is the goal of most drivers, and one of the quickest ways to find cheaper insurance is to buy liability only. The example below shows the difference between auto insurance rates with full coverage compared to only the Colorado minimum liability coverage. The data is based on no claims, a clean driving record, $500 deductibles, single status, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 3341,1247],[‘Age 30’, 1753,685],[‘Age 40’, 1715,635],[‘Age 50’, 1565,595],[‘Age 60’, 1517,583],[‘Age 70’, 1867,781]]);var options = {title: ‘Full Coverage Compared to Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Tacoma in Colorado’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

Averaged for all age groups, full coverage costs an extra $1,960 per year more than just buying liability only. That is a large expense and it proposes the question if paying for full coverage is worth it. There is no definitive formula to stop paying for full coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is 10% or more of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s pretend your vehicle’s replacement value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $10,500 after paying the physical damage deductible. If it’s costing you more than $1,050 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

Get discount Colorado insurance

Insurance companies that offer cheap insurance for a Toyota Tacoma in Colorado could also offer discounts that could lower prices by as much as 40% or more if you meet the requirements. A few popular companies and a summarized list of policyholder discounts are detailed below.

The information below shows the comparison of insurance costs with and without discounts. Data assumes a female driver, no accidents, no driving violations, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, multiple policy, safe-driver, claim-free, multiple vehicle, and anti-theft discounts applied. When discounts are applied, the average savings per year on insurance for a Toyota Tacoma is 17% or $214.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 2937,2111],[‘Age 30’, 2001,1447],[‘Age 40’, 1865,1349],[‘Age 50’, 1631,1179],[‘Age 60’, 1577,1141],[‘Age 70’, 1855,1335]]);var options = {title: ‘Effect of Discounts on Insurance Rates for a Toyota Tacoma’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Tacoma’,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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Who is cheaper: Allstate, State Farm, Geico, or Progressive?

When comparing rates for car insurance, probably the best companies to start with are Allstate, State Farm, Geico, and Progressive. When added together, they insure 48.5% of all policies written. Each company has a slightly different mix of options and features that may influence your choice. The following table compares and contrasts price and claims rank as well as some different options you can buy with each company.