Who Has the Cheapest Insurance Quotes for a Toyota Highlander in Colorado?

The chances that you’ll find the best cheap car insurance for a Toyota Highlander in Colorado is contingent on a lot of rating factors such as whether you own a home, your credit history, and your choice of physical damage deductibles. Drivers in Colorado pay approximately $1,200 annually to insure their Highlander, but that cost is an estimation that uses a 40-year-old single female that purchased both comprehensive and collision coverage and $500 physical damage deductibles.

When estimating a car insurance rate like we just did, the issue is that you’re not a 40-year-old female, you might be married instead of single, or maybe you are just looking for cheap liability insurance. Having what appears to be a very minor change in the factors used to determine rates can cause big differences in the policy cost.

There is no perfect policy for every driver, so your best chance at finding the cheapest coverage for your Toyota is to make a habit of comparing prices at least once a year. Quotes only take a couple of minutes and you will receive prices from some of the cheapest companies that insure Toyota vehicles in Colorado.

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Your Toyota’s trim level will most likely have an effect on the insurance rate, so the price you pay to insure a Highlander 2WD model will be $204 less than the price to insure the more costly Highlander Hybrid Limited 4WD version, as shown in the table below.

Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Prices do not factor in specific location which can influence premium rates greatly.

Determining which insurers offer the lowest-priced auto insurance rates for a Toyota Highlander requires a bit more work than just getting one or two price quotes.

Each company uses a slightly different approach to establish rates, so we’ll take a look at the auto insurance companies with the overall cheapest rates in Colorado. It’s a good idea to know that Colorado auto insurance rates are determined by lots of factors that may substantially change the policy price. Simply getting older, becoming a homeowner, or getting a reckless driving citation may generate price changes that can make some companies cheaper than competitors.

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The Hartford may offer some of the cheapest car insurance rates in Colorado at around $859 annually. Grange, USAA, Nationwide, and GEICO would also make the list of some of the cheaper Colorado insurance companies.

In the above example, if you currently buy coverage from Grange and switched to The Hartford, you may realize an annual premium reduction of in the neighborhood of $119. Drivers with USAA could save as much as $150 a year, and Nationwide policyholders might reduce rates by $250 a year.

To find the cheapest insurance for a Toyota Highlander in Colorado for your vehicle, click here or visit several of the following companies.

It’s important to note that these rates are averages across all types of insureds and vehicles and do not take into consideration a specific rate factor for a Toyota Highlander. So the insurer that can offer you the best price may not even be featured in the chart above. That’s why you need to get car insurance quotes using your own personal information and vehicle type.

The diagram below illustrates how your deductible choice can impact insurance costs when searching for cheap insurance for a Toyota Highlander. The premiums assume a married female driver, full coverage, and no discounts are factored in.

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The data above shows that a 40-year-old driver could reduce rates by $298 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $452 by choosing a $1,000 deductible. Younger drivers, like the age 20 example, could shave up to $738 or even more by selecting a higher deductible. If you do raise deductibles, it is necessary to have enough funds in savings to allow you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Full coverage rates vs. liability-only in Colorado

Finding the cheapest insurance for a Toyota Highlander in Colorado should be important to the majority of vehicle owners, and a good way to save on the cost of insurance is to buy liability only. The example below shows the comparison of annual premium costs with full coverage and liability only. The data is based on no claims or driving citations, $100 deductibles, drivers are single, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 4579,1247],[‘Age 30’, 2371,685],[‘Age 40’, 2359,635],[‘Age 50’, 2137,595],[‘Age 60’, 2063,583],[‘Age 70’, 2477,781]]);var options = {title: ‘Full Coverage Rates Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Highlander in Colorado’,minValue: 0,format: ‘$###,###’},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);}

On average, comprehensive and collision coverage on your policy costs $2,664 per year more than buying just liability insurance. That brings up the question when is the right time to remove full coverage. There is no definitive guideline for eliminating physical damage insurance, but there is a broad guideline. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let’s assume your vehicle’s settlement value is $6,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $5,500 after paying your deductible. If you are paying more than $550 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.

There are a few cases where removing full coverage is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Which major car insurance company is best?

When buying auto insurance, some of the largest companies to start with are Progressive, Geico, State Farm, and Allstate. Combined they have almost 50% of all auto insurance policies in force. They all have different optional coverages and features that add value to each policy. The data below breaks down price, claims, and customer service ratings, as well as some optional coverages .