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How much is auto insurance in Lakewood?
Auto insurance costs an average of $2,008 per year in Lakewood. That's more than the average in Colorado ($1,757) and more costly than the national average of $1,548. Our guide to Lakewood car insurance includes average rates based on age, credit score, driving history, and marital status. Keep reading to learn more!
AUTO INSURANCE: LAKEWOOD RATES VS. STATE + NATIONAL AVERAGES
|Lakewood Average (annual)||Colorado Average||National Average|
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One of the most important determinants of your car insurance rates is the insurance company you work with. In Lakewood, USAA provides the most affordable rates for the typical insurance customer. We've listed the best cheap car insurance companies in Lakewood below. Use this information as a starting point and be sure you gather quotes specific to your unique driving profile.
LAKEWOOD CAR INSURANCE RATES BY COMPANY
|Company||Average Yearly Rate|
Want to learn more? See our guides covering finding the cheapest car insurance and auto insurance providers with the best consumer and third-party ratings.
The best age for car insurance rates as a driver in Lakewood is your 50s: drivers in this age group pay an average of $1,767 per year. Drivers in their 60s pay marginally higher rates — $1,779 per year.
Teenage drivers pay Lakewood's most expensive insurance rates. One of the most effective ways to lower your car insurance rates as a driver in Lakewood is to age out of your teens. The difference in rates paid by teenage drivers and drivers in their 20s in Lakewood is $4,418, the largest such difference between any two age groups.
CAR INSURANCE RATES BY AGE TIER IN LAKEWOOD
|Age||Average Yearly Rate|
Marital status and gender are contributing factors to car insurance rates in many cases. In Lakewood, married drivers pay $143 less than single drivers for car insurance. Married drivers enjoy less expensive rates than their single counterparts in most locations, based on data showing they file fewer insurance claims. Rates for those who are widowed are also much cheaper than rates for those who are single. In Lakewood, insurance rates for those who are widowed are less expensive than rates for those who are single.
Gender is another factor that can impact auto insurance costs.
INSURANCE RATES IN LAKEWOOD BY MARITAL STATUS AND GENDER
|Marital Status/Gender||Average Yearly Rate|
Maintaining a clean driving record is an effective way to minimize your auto insurance costs. At-fault collisions, DWIs, citations for reckless driving, and speeding tickets each contribute to increases in car insurance rates. Insurance companies reward low-risk drivers with the gift of low rates.
Two of the most expensive driving violations from an insurance perspective are reckless driving and DUI. In Lakewood, a reckless driving citation results in an average insurance rate increase of $682 per year, compared to the citywide average. For comparison's sake, a DUI offense results in a $632 increase and a speeding ticket triggers a $334 rate hike.
LAKEWOOD CAR INSURANCE RATES AFTER A COLLISION OR CITATION
|Violation/Incident||Average Yearly Rate|
|At-fault Accident (damages less than $1,000)||$2,486|
|At-fault Accident (damages greater than $2,000)||$2,787|
|Speeding Ticket (16-20 mph over speed limit)||$2,341|
In many cases, a driver's credit level is closely correlated with their auto insurance rates. In fact, Lakewood drivers who improve their credit score from the "Very Poor" tier (300-579) to the "Exceptional" tier (800-850) earn, on average, a 57% decrease in their auto insurance costs. Moving from "Very Poor" to "Fair" credit is a meaningful step toward saving money on auto insurance. In Lakewood, improving your credit to "Fair" could help you earn a $1,401 decrease in yearly insurance premiums.
LAKEWOOD AUTO INSURANCE RATES BY CREDIT LEVEL
|Credit Score||Average Annual Rate|
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.