Lakewood, CO Auto Insurance Rates, Quotes, Agents & Reviews

Zimlon, through its research, found that car owners in Lakewood, CO, can avail multiple discounts on car insurance by taking various factors into consideration. These factors are explored in detail by Zimlon in the analysis below.

The Average Cost of Car Insurance in Lakewood, CO, is $1,126

The average cost of auto insurance in Lakewood, CO, according to Zimlon, is $1,126. This is much lower than the average cost of auto insurance in neighboring places such as Edgewater, Wheat Ridge, Northeast Jefferson, Dakota Ridge, and East Pleasant View. Residents of Lakewood can improve savings by comparing multiple auto insurance quotes. Auto insurance depends on numerous factors ranging from the make and model of the vehicle to the driver’s age.

Insurance Requirements:

Here is a list of mandatory car insurance requirements in Colorado.

• $25,000 for bodily injury or death to any person in an accident.

• $50,000 for bodily injury or death to all persons in any one accident.

• $15,000 for property damage in any one accident. 

Demographics:

The cost of auto insurance depends on the age and gender of the driver. Women are generally considered to be safe drivers, making auto insurance cheaper for them. As the above infographic indicates, auto insurance is most affordable for drivers who are in their fifties and sixties ($1,034 and $1,049). Auto insurance is expensive for teenagers since they lack driving experience. The average cost of auto insurance for teenagers in Lakewood is $3,806.

Deductible:

Deductibles are one of the most common factors affecting the rate of auto insurance in the country, and Lakewood is no different. A higher deductible leads to a decrease in the cost of auto insurance, while a low deductible can lead to an increase. The average cost of auto insurance at a low deductible ($500) is $1,286. This goes down to $1,087 when the deductible is higher ($1,000).

Neighborhood:

The neighborhood one lives in Lakewood can also have an impact on the cost of auto insurance. Zimlon offers the option of keying in one’s zip code to get accurate auto insurance quotes from multiple auto insurance companies. Depending on  several factors such as the make and model of the vehicle and the rate of auto thefts in the neighborhood, the price can vary within a city 

Driving Record:

The driving record of car owners also has a direct impact on the cost of auto insurance. Getting charged for offenses such as DUI and driving without a proper license can have a long-term impact on Lakewood’s cost of auto insurance. Post-DUI, the average cost of auto insurance increases to $1,773. 

Credit Score:

A healthy credit score will also determine the cost of one’s auto insurance. Possessing a good credit score will reduce the cost of auto insurance for the car owner. The average cost of auto insurance when the credit score is “exceptional”, can be as low as $1,006. 

Car insurance savings in Lakewood, CO, varies by upto $993

Zimlon’s recent analysis of car insurance rates for Lakewood, Colorado, revealed that drivers can save between $544 and $993 depending on the insurance companies they choose. The greatest difference between the cheapest and median car insurance prices, at $993, was for 21-year-old single male drivers. Privilege Underwriters Reciprocal Exchange offers the cheapest premium for this group at $821, while the median-priced policy at $1,814 is offered by Unitrin Auto and Home Insurance Company.

Car insurance premiums are determined by the car model, coverage limits, deductible values, and the driver’s background.The vehicle chosen for this study is a 2012 Ford Fusion S FWD with a 2.5 liter Duratec L4 6-Speed Automatic Transmission engine. The comprehensive collision deductible is set at $500, the underinsured motorist per occurrence limit ranges between $50,000 and $300,000, and the uninsured motorist per person limit is between $25,000 and $100,000. The property damage limit chosen is $15,000. The per occurrence bodily injury limit ranges from $50,000 to $300,000, and the per person bodily injury limit is between $25,000 and $100,000. All the driver cohorts analyzed had a driving record of no accidents or traffic convictions in the past 3 years and drove 10–15 miles to work each way.

A comparative analysis of car insurance prices based on driver backgrounds revealed that for 21-year-old single female drivers, the cheapest premium is offered by Privilege Underwriters at $662. The median rate for this cohort, offered by Amica Mutual, is $1,622. Thus, drivers belonging to this demographic, can potentially save $960.

For 35-year-old married male drivers, the most expensive premium is offered by LM Insurance Corporation at $7,526. Drivers can save up to $2,910 by buying the median-priced premium for this cohort, priced at .

The Zimlon survey also found that for all four of the driver cohorts analyzed, Privilege Underwriters Reciprocal Exchange offers the cheapest premiums. On the other hand, LM Insurance Corporation offers the most expensive premiums for 3 of the 4 cohorts.

The following graph compares car insurance across key companies for Lakewood, CO.

The following table compares the car insurance premiums among key companies in Lakeweood, Colorado. In addition, the table also lists the differences between the median and cheapest or most expensive rates, offered by these companies.

Cohort	Cheapest Car Insurance Companies in Lakewood, CO	Second Cheapest Car Insurance Companies in Lakewood, CO	Median Car Insurance Companies in Lakewood, CO	Second Most Expensive Car Insurance Companies in Lakewood, CO	Most Expensive Car Insurance Companies in Lakewood, CO	Difference between the Cheapest and Median Prices	Difference between the Most Expensive and Median Prices
68-year-old married female drivers	Privilege Underwriters Reciprocal Exchange ($335)	Shelter General Insurance Company ($369)	ANPAC ($879)	American Hallmark Insurance Company ($2,520)	LM Insurance Corporation ($3,439)	$544	$2,560
35-year-old married male drivers	Privilege Underwriters Reciprocal Exchange ($358)	Shelter General Insurance Company ($375)	Bristol West Insurance Company ($1,007)	American Hallmark Insurance Company ($2,885)	LM Insurance Corporation ($3,917)	$649	$2,910
21-year-old single female drivers	Privilege Underwriters Reciprocal Exchange ($662)	United Services Automobile Association ($822)	Amica Mutual Insurance Company ($1,622)	American Hallmark Insurance Company ($6,019)	LM Insurance Corporation ($6,510)	$960	$4,888
21-year-old single male drivers	Privilege Underwriters Reciprocal Exchange ($821)	United Services Automobile Association ($908)	Unitrin Auto and Home Insurance Company ($1,814)	LM Insurance Corporation ($6,633)	American Hallmark Insurance Company ($7,526)	$993	$5,712

Factors that can influence the cost of car insurance in Lakewood, CO are listed below. It is imperative to understand these factors in order to reduce the cost of car insurance. It is also essential to strike a balance between the cost of insurance and the coverage requirements.

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Lakewood, CO Auto Insurance Rate Comparisons with Neighboring Locations | Back to Top

The following table compares the cost of insurance in Lakewood, CO with that of other cities in and around Lakewood.

	Lakewood	Edgewater	Wheat Ridge	Northeast Jefferson	Dakota Ridge	East Pleasant View
Average Insurance Rates	$1,173	$1,829	$1,182	$1,833	$1,832	$1,824

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Lakewood, CO Auto Insurance Rates vary Based on Deductibles in Neighboring Cities | Back to Top

The following table makes a comparison of the variation in car insurance rates in and around Lakewood, CO based on the change in deductibles. A higher deductible leads to a decrease in the cost of car insurance.

Location	Low Deductible ($500)	High Deductible ($1000)
Lakewood	$1,286	$1,087
East Pleasant View	$1,595	$1,348
Northeast Jefferson	$1,002	$847
West Pleasant View	$2,079	$1,756
Applewood	$1,859	$1,570
Edgewater	$1,420	$1,200
Wheat Ridge	$2,208	$1,865
Dakota Ridge	$1,936	$1,636

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Lakewood, CO Auto Insurance Rates Based on the Age of the Driver | Back to Top

Teenagers in Lakewood, CO usually pay a much higher car insurance rate compared to the rest of the state as they are generally considered to be less responsible behind the wheel. Middle-aged drivers are likely to pay lower car insurance premiums if they are considered to be safer drivers by insurance companies.

Age of Driver	Insurance Cost
Teens	$3,806
20 Years	$1,507
30 Years	$1,161
40 Years	$1,117
50 Years	$1,034
60 Years	$1,049
70 Years	$1,221

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Lakewood, CO Car Insurance Discounts for Multi-Car Insurance | Back to Top

Car owners in Lakewood, CO can obtain discounts if they insure multiple vehicles with the same insurer. The average savings one can obtain are as follows:

Number of Cars	Auto Insurance Cost	Total Savings
2 Vehicles	$1,994	$352
3 Vehicles	$2,991	$528
4 Vehicles	$3,988	$704

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Lakewood, CO Post- DUI Auto Insurance Rates | Back to Top

Driving Under Influence (DUI) can be an added burden on your wallet. The cost of auto insurance will go up post-DUI. The below graph does a comparison of auto insurance rates before and after DUI in and around Lakewood, CO.

Location	Average Insurance Cost	Post DUI Insurance Rate
Lakewood	$1,173	$1,773
East Pleasant View	$1,824	$2,757
Northeast Jefferson	$1,833	$2,771
West Pleasant View	$1,801	$2,722
Applewood	$1,908	$2,884
Edgewater	$1,829	$2,764
Wheat Ridge	$1,182	$1,787
Dakota Ridge	$1,832	$2,769

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Lakewood, CO Auto Insurance Rates Based on Credit Score | Back to Top

Car insurance companies can use the Credit Score of car drivers to determine car insurance rates. Car drivers with good credit can avail of substantial discounts on car insurance rates.

Credit Score	Insurance Cost
Exceptional (800-850)	$1,006
Excellent (740-799)	$1,149
Good (670-739)	$1,222
Average (580-669)	$1,595
Poor (300-579)	$1,913

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Lakewood, CO Auto Insurance Rates can Increase Based on Driving Violations | Back to Top

Auto insurance rates tend to increase depending on the type and number of driving violations. The driving violations can stay on the record for a considerable amount of time leading to higher auto insurance rates. The severity of the driving violation and place of residence will determine how long the violation stays on record.

Driving Violation	Cost Increase	Total Insurance Cost
Driving Without Headlights	+$52	$1,225
Driver's Failure In Showing Documents	+$114	$1,287
Driving With An Expired Registration	+$121	$1,294
Driving At A Considerably Slow Pace	+$255	$1,428
Using A Cellphone While Driving	+$269	$1,442
Running A Red Light	+$273	$1,446
Speeding	+$287	$1,460
Driving A Vehicle Without The Required Permission	+$365	$1,538
Driving With An Expired/Suspended License	+$791	$1,964

Lakewood, CO Auto Insurance Rates Based on Anti-Theft Feature | Back to Top

Cars that are equipped with safety devices are less prone to thefts. As a result, auto insurance companies provide a considerable amount of discounts to vigilant car owners. The discounts vary depending on the type and number of safety devices installed.

Anti Theft Feature	Insurance Cost
Audible Alarm	$1,126
Active Disabling Device	$1,126
Tracking Device	$1,103
Passive Disabling Device	$1,091

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Latest Auto Insurance Reviews in Lakewood, CO | Back to Top