How Much is Car Insurance for Teenage Males in Colorado?

One of the more important considerations used to calculate insurance cost is where you keep your vehicle. More populated areas like Denver, Aurora, and Lakewood tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims generally pay lower auto insurance rates.

The following table ranks the most expensive places in Colorado for teenage males to buy car insurance in.

Price information shown is comparative as the specific zip code location can decrease or increase insurance rates noticeably.

Trying to buy low-cost car insurance is confusing at best, and deciding which companies offer the cheapest insurance rates for teenage males requires additional perseverance. Policy prices will be significantly greater than the average rate in Colorado because of the higher likelihood of claims that comes with selling coverage for teen boys, but competitive insurance should be obtainable if you compare enough companies. Every auto insurer has their own formula to determine premium rates, so first let’s look at the rankings for the overall cheapest insurance companies in Colorado.

We do need to point out that Colorado insurance rates are based on many factors which can significantly increase or decrease the cost of a policy. Simply improving your credit, increasing liability limits, or getting a ticket for running a stop sign can trigger changes in premium resulting in some rates now being more expensive than others.

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The Hartford normally has some of the most affordable car insurance rates in Colorado at around $850 each year. Grange, USAA, Nationwide, and GEICO would also make the list of some of the lowest-priced Colorado auto insurance companies.

In the above rates, if you are insured with USAA and switched to The Hartford, you may see annual savings of approxmiately $189. Colorado drivers with Nationwide might save as much as $271 a year, and GEICO customers might lower prices by up to $337 a year.

Understand that those policy rates are averages for all types of insureds and vehicles and and are not figured with a price surcharge for teenage males. So the insurer that can offer you the lowest price may not even be in the company chart above. That point stresses why you need to get car insurance quotes using your own personalized driver profile and vehicle information.

How violations and accidents impact rates

In a perfect world, the best way to receive the most affordable insurance premiums for teen boys is to drive cautiously and not have accidents or get tickets. The example below demonstrates how citations and at-fault accidents drive up annual premium costs for different insured age categories. The rate quotes are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are taken into consideration.

In the previous example, the average cost of car insurance in Colorado per year with no accidents and a clean driving record is $2,465. Receive two speeding tickets and the average cost surges to $3,267, an increase of $802 each year. Now add in one accident along with the two speeding tickets and the 12-month cost of insurance for teenage males jumps again to an average of $4,086. That’s an increase of $1,621, or $135 per month, just for being a less-than-perfect driver!

Should you buy full coverage?

Finding cheap car insurance for teenage males in Colorado is the goal of the majority of drivers, and one common way to buy cheaper insurance is to only buy liability insurance. The chart below shows the difference between car insurance costs with full physical damage coverage compared to only buying liability only. The costs are based on no violations or claims, $500 deductibles, single status, and no additional discounts are factored in.

If averaged for all ages, physical damage coverage costs an additional $1,656 per year over having just liability coverage. That may make you wonder if buying full coverage is a waste of money. There is no clear-cut rule for dropping physical damage insurance, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

Allstate, Progressive, Geico, and State Farm compared

When comparing auto insurance for teen boys, some of the first companies to look at are Allstate, Progressive, Geico, and State Farm. They all offer a slightly different set of options and discounts that add value to each policy. The table below shows price and claims rank as well as some different options that are available from each company.