Insurance is an important part of every driving adult’s life. It is critical that you find a company that offers reasonably priced insurance that covers all the necessary bases. Finding cheap auto insurance in Denver, CO can be incredibly difficult, but Coloradoautoinsurancequotes.org makes this task quick and easy.
Save Money Monthly on Average Denver Auto Insurance Quotes
The average cost of automobile insurance in Denver, Colorado is around $400 a month for liability insurance only. The average cost of comprehensive Denver automotive insurance is around $720 a month. This is only the average for this area and is does differ according to the zip code in which you are located. Another factor that can affect your insurance is if you have a garage for your car to park in as this would likely minimize damage. The average cost of vehicle insurance for Denver overall is about $318 for liability only and about $560 for comprehensive. These numbers are based on a one person household for a 6 month policy.
Determining Factors for Denver, Colorado Auto Insurance
Many companies take several factors into account when tallying up the cost of a policy. The most common factors are credit score, home ownership, garages, gender, age, accident history, make and model of the car, and the area where you live. These factors can greatly affect the overall cost of your policy in the long run and in short terms.
- Location– this can affect the insurance costs greatly. Areas with higher crime rates, higher populations, and major thoroughfares can make insurance rates rise as there is a higher chance you may encounter accidents and damages to your vehicle. Rather than rural areas where there are less cars, areas with higher populations offer a higher risk of accidents. The overall population of Denver is around 600,000 with a population density of about 4,000 per square mile.
- Driving To Work– this can also affect overall insurance costs as people who commute during peak travel times are also at a greater risk of accidents. The average travel time to work in this area is about 15 minutes with an average of 11,000 people traveling this amount of time. The number of fatal accidents per 100,000 population is about 6. If you are traveling during peak rush hour times you will likely have an increased insurance rate.
- Auto Thefts– those areas that experience high crime rates will also have an increased insurance rate. The average car theft rate per 100,000 population in Denver is about 530. Vulnerability to car theft will likely raise your rates as auto companies will have to pay out policies each time a car is stolen if it is covered in the policy.
- Education– this can also help to affect the overall cost of your insurance. Drivers that have higher education levels often have lower insurance premiums. 22% of adults in Denver have a Bachelor’s degree while 20% have a High School Diploma or equivalent degree. The number of bachelor’s degrees in Denver is higher than the state average of 21%, while the percentage of High School diplomas is a bit less than the state average of 23%.
Finding cheap insurance does not have to be difficult. With a few simple details you can find out what insurance companies will be the best for you and your needs and budget. Coloradoautoinsurancequotes.org offers a widget that allows users to enter a few details and get a list of companies that offer quotes that are reasonable and help to make motor vehicle insurance affordable.Colorado State Facts
The official Colorado website
Colorado DORA Dept of Insurance