The type of vehicle you are seeking coverage for is one of the largest considerations when comparison shopping for low-priced car insurance for teenage males. Vehicles with lower acceleration and performance, good safety features, or a low likelihood of liability claims will cost significantly less to insure than high performance models. The next table shows insurance premiums for a number of the cheaper automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$3,853|
|Ford Escape XLS 2WD||$3,861|
|Honda CR-V EX 2WD||$3,853|
|Volkswagen Jetta SE 2.5 Station Wagon||$4,397|
|Chevrolet Impala LS||$4,532|
|Ford Edge SE AWD||$4,538|
|Jeep Grand Cherokee Laredo 2WD||$4,570|
|Toyota RAV4 Limited 4WD||$4,578|
|Chevrolet Malibu LS||$4,570|
|Dodge Grand Caravan Hero||$4,576|
|Ford Explorer Limited AWD||$4,605|
|Ford F-150 FX4 4WD||$4,611|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$4,605|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$4,614|
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Table data represents single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific location which can modify premium rates considerably.
Based upon the rates shown, we can conclude that models like the Honda Accord, Ford Escape, and Honda CR-V are going to be some of the most affordable vehicles to insure for teen boys. Prices will tend to be more expensive anyway because there is more claim risk for teenage males, but overall those makes and models will most likely have the best rates compared to other types of vehicles.
Buying low-priced insurance is confusing at best, and figuring out which companies offer the lowest-priced car insurance rates for teenage males in Colorado involves a little more work. Policy rates will more than likely be much pricier than the state average, with the higher price attributed to the posibility of more claims associated with selling insurance for teen boys, but competitively-priced coverage may be available if you look hard enough. Each insurance company has a proprietary method to set policy rates, so let's take a look at the most competitive car insurance companies in Colorado.
Find Cheaper Car Insurance for Teens
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,624|
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The Hartford may offer some of the best car insurance rates in Colorado at around $834 a year. Grange, USAA, GEICO, and Nationwide also qualify as some of the more affordable Colorado car insurance companies.
As the rates illustrate above, if you currently have coverage with GEICO and switched to Grange, you might realize a yearly savings of in the vicinity of $203. Policyholders with Nationwide may save as much as $206 a year, and Travelers insureds might reduce rates by $234 a year.
To discover how much you can save, click here to start your free quote or click several companies below for low rates.
It's important to note that these rates are averaged for all ages of drivers and types of vehicles and and are not calculated with a price surcharge for teenage males. So the car insurance company that can offer you the best price may not even be in the top 21 companies shown above. That emphasizes why you need to quote rates from many companies using your own personal information and vehicle type.
The illustration below illustrates how choosing a deductible can influence insurance costs when getting quotes for cheap insurance for teenage males in Colorado. The costs are based on a married female driver, comprehensive and collision coverage, and no other discounts are factored in.
A 40-year-old driver could lower rates by $288 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $436 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old example, could roll back prices as much as $712 annually by choosing a higher deductible. If you do decide to increase your deductibles, it will be required to have enough in a savings account to allow you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Get discount Colorado insurance rates
Insurance companies that provide coverage for teenage males could also offer price discounts that could reduce prices by as much as 35% or more if you are eligible. A list of companies and a selection of discounts are detailed below.
- Progressive may offer discounts for continuous coverage, homeowner, good student, online signing, multi-vehicle, multi-policy, and online quote discount.
- MetLife may have discounts that include good student, accident-free, defensive driver, good driver, claim-free, and multi-policy.
- Mercury Insurance has discounts for location of vehicle, professional/association, good student, annual mileage, ease of repair, low natural disaster claims, and multi-policy.
- Nationwide includes discounts for anti-theft, accident-free, easy pay, defensive driving, and Farm Bureau membership.
- GEICO may include discounts for membership and employees, anti-lock brakes, seat belt use, five-year accident-free, good student, daytime running lights, and military active duty.
- AAA offers discounts for good student, multi-car, pay-in-full, education and occupation, and anti-theft.
The chart below shows the comparison of yearly insurance costs with and without some available policy discounts. The rate quotes are based on a female driver, no driving violations, no at-fault accidents, Colorado state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with vehicle safety, paperless filing, continuous coverage, good student, passive restraint, and anti-theft discounts applied. With discounts applied, the average savings per year on car insurance for teenage males is 28% or $511.
Reckless driving habits raise Colorado car insurance rates
The ideal way to find affordable car insurance premiums in Colorado for teen boys is to be a safe driver and avoid getting tickets or having accidents. The chart below shows how violations and accidents can raise annual premium costs for each age group. The data is based on a single female driver, full coverage, $500 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of an auto insurance policy in Colorado per year with no accidents and a clean driving record is $2,102. Get two speeding tickets and the average cost hikes up to $2,813, an increase of $710 each year. Next add two accidents along with the two speeding tickets and the annual cost of car insurance for teenage males in Colorado goes up to an average of $5,610. That's an increase of $3,508, or $292 per month, just for a couple of infractions!
Here's why you should shop around
Colorado car insurance rates are calculated based on many things that may substantially change your annual premium. Simply having a birthday, increasing liability limits, or having an accident can trigger changes in premium resulting in some rates now being more affordable than the competition. Additionally, insurance companies modify pricing at least once a year in order to be able to pay unexpected claims. Higher than normal claim frequency or severity can cause higher rates, while a profitable period may produce lower-cost Colorado car insurance rates.
For example, the bar chart below compares the cheapest car insurance in Colorado for a 35-year-old female driver with no accidents, a clean driving record, and great credit. If we compare prices based on her current risk profile, The Hartford might quote the lowest car insurance rates in Colorado at $859 annually. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the best Colorado auto insurance companies.
In the next rate comparison, we'll give the driver from the first set of rates a claim, bad credit, and a blemish on her driving record. Because each insurer has a proprietary formula to determing premium rates, getting updated rate quotes may result in a substantially altered list of companies as shown below.
Auto-Owners now has the cheapest rate in Colorado with State Farm, American Family, Progressive, and Amica completing the list. This example shows why Colorado drivers need to compare rates to find the cheapest car insurance rates for teenage males.
Insurance rates are made up of many different factors and can change without notice, so the cheapest rate when you last compared rates may now be costing you a lot of money.