Best Cheap Auto Insurance Quotes for a School Permit in Colorado

Finding good, budget insurance is not the easiest thing to do, and finding out which company quotes the most affordable car insurance rates for a school permit requires even more perseverance. Insurance premiums will probably be much higher than the average rate in Colorado, with the higher price attributed to the additional risk that goes along with selling insurance for a learners permit, but competitive coverage should be available if you are thorough. Every insurance provider has a unique formula to establish rates, so let’s rank the lowest cost car insurance companies in Colorado.

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The Hartford may have some of the cheapest car insurance rates in Colorado at around $825 each year. Grange, USAA, Nationwide, and GEICO also make the cut as some of the best Colorado car insurance companies.

In the above example, if you have coverage with Nationwide and switched to The Hartford, you may realize a yearly price reduction of approxmiately $296. Customers with GEICO might save as much as $351 a year, and Auto-Owners customers might reduce prices by as much as $379 a year.

Remember that these premium estimates are averages across all ages of drivers and types of vehicles and are not factoring in a rate increase for a school permit. So the car insurance company that can offer the best rates for your situation may not even be included in the company chart above. That is why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.

For Colorado drivers, one of the things used to calculate the cost of insurance is where you keep your car in Colorado. Areas that are densely populated or have higher claim frequency like Pueblo, Denver, and Lakewood tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates generally pay less for auto insurance.

The information below sorts the most costly cities in Colorado for a school permit to purchase car insurance in.

Premium amounts are comparative as specific Colorado garaging address can change price quotes greatly.

The car, truck, or SUV you are seeking coverage for is probably the biggest factor when comparison shopping for the best insurance for a school permit. Vehicles with average performance, good safety features, or a low likelihood of liability claims will cost significantly less to insure than adrenaline junky models.

The next table illustrates auto insurance costs for a number of the cheapest automobiles to buy coverage for.

Data rating is based on single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in vehicle location which can revise price quotes considerably.

Looking at the data, we can conclude that cars like the Honda CR-V, Ford Escape, Subaru Forester, Toyota Prius, and Chevrolet Traverse are the most economical vehicles to insure for a learners permit. The cost of auto insurance will tend to be more expensive because of the fact that there is more claim risk for a school permit, but generally speaking those particular models will have the cheapest car insurance rates possible.

Comparison of full coverage and liability-only policies

Finding the best cheap car insurance for a school permit in Colorado should be important to the majority of drivers, and an easy way to reduce the cost of insurance is to not buy comprehensive and collision coverage. The illustration below shows the difference between car insurance rates with full coverage compared to only the Colorado minimum liability coverage. The costs are based on no accidents, no driving violations, $500 deductibles, marital status is single, and no policy discounts are applied.

Averaged for all age groups, comp and collision coverage costs an additional $2,209 per year over having just liability coverage. That may make you wonder if physical damage coverage is worth the money. There is no specific rule for excluding full coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after paying your policy deductible. If it’s costing you more than $300 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.