Best Cheap Auto Insurance Quotes for Uber Drivers in Colorado

For Uber vehicles, one of the big components that establish insurance cost is where your car is garaged. Cities that have higher claim levels or more people like Pueblo, Aurora, and Northglenn will most likely pay more, whereas areas with less congestion benefit from lower rates.

The next table rates the highest-priced places in Colorado for Uber drivers to purchase car insurance in.

Price information shown is estimated as the specific zip code location can decrease or increase rates considerably.

Trying to buy budget auto insurance is not the easiest thing to accomplish, and figuring out which company quotes the lowest-priced auto insurance rates for Uber drivers will require even more work. Each insurance company uses a little different formula to set policy rates, so we need to take a look at the most competitive auto insurance companies in Colorado.

Keep in mind that Colorado auto insurance rates are impacted by many things that can increase the price you have to pay. Improving your credit rating, buying a home instead of renting, or getting a ticket for careless driving can trigger price changes that can now make some companies cheaper in comparison to the competition.

Best Cheap Insurance Rates for Your Uber Vehicle

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The Hartford generally has some of the best car insurance rates in Colorado at around $859 per year. Grange, USAA, Nationwide, and Auto-Owners would also be considered some of the more affordable Colorado auto insurance companies.

As shown in the table above, if you currently buy coverage from USAA and switched to The Hartford, you may realize an annual savings of about $140. Policyholders with Nationwide might save as much as $284 a year, and Auto-Owners insureds might cut rates by $297 a year.

To find the best cheap car insurance for Uber drivers in Colorado for your vehicle, click here or quote rates from the companies below.

Remember that these estimates are averaged across all drivers and vehicles and do not take into consideration a price decrease for Uber drivers. So the car insurance company that fits your age and vehicle best may not even be in the list of companies above. That underscores the importance of why you need to get rate quotes using your own driver data and vehicle information.

Liability only or full coverage

Finding the best cheap car insurance for Uber drivers in Colorado is probably important to the majority of vehicle owners, and one of the best ways to buy cheap insurance is to not insure for full coverage. The chart below shows the difference between insurance costs with and without physical damage coverage. The data is based on no accidents, no driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.

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If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $2,209 per year over and above liability coverage. Many drivers may wonder if physical damage coverage is worth the money. There is no exact formula of when to drop full coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.

There are a few cases where dropping full coverage is not financially feasible. If you haven’t paid off your loan, you must maintain physical damage coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage.

Cheapest insurance quotes for Uber vehicles

Thanks to technology, drivers have a lot of ways to compare auto insurance prices in Colorado, but the most prevalent are either through an independent agent, an exclusive insurance agency like Auto-Owners or State Farm, or direct from companies such as Progressive or Geico.

Each way has the same basic process, but auto insurance shoppers should know the differences in how they give price quotes.

Independent insurance agencies write for multiple companies and can get rate quotes from every one. These agents do not sell for just one brand and can provide you with more rate quotes, which can help you get a better comparison. If a cheaper rate is found, your agent can switch companies which prevents you from having to switch agents.

An exclusive agent is ‘exlusive’ to one company, a couple examples are Allstate or Farmers Insurance agents. They generally cannot quote prices from more than a single company, which requires you to shop around.

Buying direct means you do not use local insurance agents and instead buy from a direct company like Progressive. Shopping direct may be preferred by families who do not have a need for a risk management assessment and have knowledge of the limitations of auto insurance.

What is the best way for finding the best cheap car insurance for Uber drivers in Colorado? We’d like to tell you buying from a direct car insurance company results in the cheapest price because you bypass the middleman, but unfortunately, that is not the case. We could also say that buying auto insurance from an independent agent can save the most money since they have more companies to choose from, but that assumption is also not necessarily accurate. And often times, exclusive agents have very competitive rates that cannot be beaten by either independent or direct companies.

Due to the fact that auto insurance rates vary so much, the only true way to find out which one is cheapest is to do a thorough rate comparison. To cover all the bases, get rate quotes from independent agents, exclusive agents, and direct companies to give yourself the best selection. For a list of auto insurance companies with low rates, click here to view.

Find the best cheap car insurance for Uber drivers in Colorado

The list below details some penny-pinching solutions that can help drivers quote the cheapest coverage.

• Ensure your driving record is clean
• Too many claims can make car insurance unaffordable
• Safe vehicles generally have lower rates
• Avoid accidents
• Pay cheaper rates with good credit scores
• Compare rates regularly to ensure the best deal

That last piece of advice is especially critical, as we emphasized in the prior article. Prices charged by companies change frequently, so don’t be unwilling to switch to a new company if a lower price can be found. Many consumers stick with the same company and that’s fine, but it isn’t a good idea if that faithfulness ends up costing you thousands of dollars over the life of your policy. In just a few minutes you could shop around and find cheaper car insurance for Uber drivers.