How Much Does Car Insurance Cost in Denver?
Whether you are taking advantage of Denver's proximity to beautiful natural settings or simply commuting to work, it's important to make sure that your car is properly insured. The state of Colorado imposes certain minimum amounts of liability insurance for all drivers. Having bodily injury liability or property damage liability can keep you protected in case you are found at fault in an accident, while an optional policy such as collision coverage or uninsured motorist coverage can protect your own property.
If you are looking for cheap car insurance in Denver, understanding premium costs for your vehicle is important. Denver car insurance premiums are recognized for being costly. They generally exceed Colorado's average by 11%. Let's take a look at how auto insurance coverage in Denver contrasts with the rest of the nation and see ways to help you find cheaper car insurance.
AUTO INSURANCE COSTS: DENVER VS. US/STATE MEAN
|City Average||State Average||National Average|
Denver Car Insurance by Gender and Marital Status
Both gender and marital status can play a role in your car insurance premiums in Denver. Males may find it slightly more affordable to keep a vehicle insured, as they have premiums that are roughly 3% cheaper than those for females. Rates for those who are widowed are somewhat cheaper than rates for those who are single. Married individuals save roughly 5% per year compared to those who are single or divorced.
DENVER CAR INSURANCE PREMIUMS BY GENDER AND MARITAL STATUS
|Marital Status/Gender||Average Rate|
Denver Auto Insurance Premiums by Driver Age
Your age can make a big difference in what you pay for your insurance policy. There are obvious reasons that some age groups may enjoy better rates for coverage, including maturity level and driving experience. While there is nothing that you can do about how old you are, knowing how a car insurance company sees your age group can help you better undertand how rates are determined. So which age group is going to have the hardest time finding cheap car insurance?
It probably comes as no surprise that teenage drivers have the biggest premiums amongst all the age groups, with car insurance payments of $7,063 on average. The biggest fall in premiums between any age group is from the teenage age range to the 20s, as drivers in Denver start saving an average of $5,355. Rates continue to trend downward up until drivers turn 60. Everyone loves to save money, and luckily for drivers in their 50s, they do just that! They have the lowest rates among any age group, with rates of $1,707 per year. However, those in their 60s ($1,739) can also find a policy with relatively low premiums.
DENVER AUTO INSURANCE PRICES BY AGE
Denver Car Insurance With Accidents or Violations
A clean driving record can be your key to finding cheap car insurance, as accidents and violations can cost you in terms of premiums. If you have a spotty driving history with accidents that have caused property damage or injury, you can expect your car insurance rates to climb. That goes for infractions like speeding or DUIs as well. So just how big of an impact will your driving record have on the cost of your coverage.
Reckless driving will increase your car insurance premiums more than other driving violations. $852 is the extra cost per year for drivers with a DUI in Denver, compared to the city average of $1,852. Reckless driving will also bump your premiums up, with average rates of $2,721. Insurance rates are impacted by at-fault accident history, and more specifically, by the extent of the damage that resulted from the accidents. For those in Denver with at-fault accidents in which damages exceeded $2,000, rates are an average of $353 more than at-fault accidents with damages less than $1,000. Basically, if you want to find affordable car insurance, keeping your driving record clean can be one of the best ways to keep the cost of your coverage down.
AVERAGE DENVER INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
|Incident or Violation||Average Annual Premium|
|At-fault Accident (damages less than $1,000)||$2,341|
|At-fault Accident (damages greater than $2,000)||$2,694|
|Speeding Ticket (16-20 mph over speed limit)||$2,210|
Denver Auto Insurance by Credit Rating
Credit ratings are very important in determining your car insurance rates. You can count on your insurance company to run your credit when they are putting together your policy. If it is less than stellar, expect to see the cost of your coverage go up. Car insurance companies have determined that those with lower credit scores tend to file more claims. Therefore, if you have a low score, they are likely to see you as more of a liability.
For individuals with Exceptional credit (800-850), as opposed to Very Poor credit (300-579), car insurance premiums are 60% less per year. In terms of percent change, the largest benefit of better credit occurs when upgrading from Very Poor (300-579) to Fair (580-669), by which drivers can save nearly 40% per year. If you are looking to get car insurance quotes that are easier on your pocketbook, repairing poor credit could be a great idea.
DENVER CAR INSURANCE COSTS BY CREDIT TIER
|Credit Level||Average Rate|
What drives up car insurance rates in Denver?
Where you live in Denver affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you'll pay. The reason? Crime, theft and uninsured motorists vary by zip code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Denver is no exception to the rule. From zip code 80234 to 80219, premiums rise by 22 percent—that’s $307.
Expensive Denver Zip Codes: 80239, 80205, 80204, 80223, 80219
Cheap Denver Zip Codes: 80234, 80241, 80127, 80123, 80233
Denver Driving Conditions
Inclement weather goes hand in hand with wet brakes, slick roads & decreased visibility.
And that's not the worst of it. Each year there are more than 700,000 weather-related car accidents. In Denver, you can expect 87 rainy days with an annual rainfall of 15.6 inches. Denver is also known to experience severe winter storms. You can check on the condition of the roads anytime here.
Rainy Days a Year
Avg. Annual Rainfall
Avg. Annual Snowfall
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Driving in the Mile High City
The average Denverite's annual cost of coverage
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Denver Car Insurance
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