What is the Average Cost of Car Insurance in Arvada?

As a northwest suburb of Denver bordering on the foothills of the Rocky Mountains, Arvada, Colorado has a population of around 121,300. The average household income here is $80,000. This town is part of the Denver-Aurora-Lakewood Metropolitan Statistical Area, which has the 13th highest rate of vehicle thefts for metropolitan areas in the United States, according to the National Insurance Crime Bureau (NICB). In 2018, this area had 14,845 thefts for a rate of 506.24 for every 100,000 vehicles. The average travel time to work here for all working residents age 16 and up is 27.6 minutes, slightly more than a minute over the national average. Average annual car insurance rates in Arvada are around $,1742 per year. That rate is slightly less than what drivers will find throughout Colorado on average and approximately on par with annual insurance premiums for car owners in the city of Denver.

How Much Auto Insurance Coverage is Needed for Arvada Drivers?

Colorado law requires that the owners of motor vehicles carry minimum insurance that covers $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $15,000 per incident for property damage. The rates for these coverages will vary from city to city and depend on various factors that include the age and condition of the vehicle, accident and theft rates in your area, your age, and your driving history. You are required to purchase car insurance and show proof before you register your car with the state. Property damage coverage protects the other drivers assets if you are legally accountable for a covered accident. Bodily injury coverage protects your assets for medical and related expenses when you are at fault. You will also receive coverage for your legal defense if a lawsuit is brought against you resulting from an accident.

Insured drivers should consider obtaining additional coverage beyond the state minimum to fully protect their assets in case of a mishap. Optional coverage in Colorado includes comprehensive insurance to help repair your vehicle from non-collision, damage, collision coverage for repairs from accidents, uninsured/underinsured motorist coverage to protect you when the driver at-fault doesn’t have insurance or is underinsured, and medical benefits that can cover reasonable and necessary medical and related expenses regardless of who is at fault in an accident.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Arvada by Insurer

In general, the least expensive car insurance policies in Colorado are written by Allstate Fire and Casualty Insurance Co., Farmers Insurance Exchange, Geico Casualty Co., Progressive Direct Insurance Co., and State Farm Mutual Auto Insurance Co. Always make sure that you check the company’s ratings and compare policy benefits before you buy.

Are you looking for the best cheap car insurance, check out this guide.

Low Cost Auto Insurance for Bad Credit in Arvada

Credit score is one of the many factors that insurance companies use to determine your auto insurance rate in Colorado. If you have bad credit, it could adversely affect your insurance rates by making the premiums higher. Here are some companies that offer solid rates for those with low credit scores.

Learn more on finding low cost car insurance rates with poor credit.

What is the Difference Between Full Coverage and Liability?

Liability Only Insurance Coverage

Liability-only coverage is the cheapest option for automobile insurance. This coverage level only covers vehicles that are not at fault in an accident. Thus, if you carry liability-only coverage and cause an accident, the other driver will be covered by your policy. Any damage done to your car must be covered out of pocket, if at all.

What is Full Coverage Car Insurance?

Liability-only insurance is the least amount of insurance that one can purchase. This satisfies your legal requirement to drive and register your vehicle in {location-state}. For many people, this is not sufficient coverage because it does not cover their losses if they are at fault and do damage to their own vehicle or if they sustain damages in a hit-and-run or from an uninsured driver.

Collision covers when one is at fault and their own vehicle is damaged. If you have a car that is worth more than a few thousand dollars, it is often a wise investment to buy collision insurance each year. However, collision insurance coverage is pricey and will increase your insurance cost per year quite drastically.

Comprehensive covers those oddball things that happen that you cannot control, like damaged windshields and collision with animals on the road. It also covers your loss when someone purposely damages your vehicle in an act of vandalism. In addition, comprehensive covers theft of your vehicle, fire and weather, or acts of nature. An example of the latter would be if your car was crushed under a tree that fell in a wind storm.

Difference Between the Two Types of Coverage

The chief distinction between full and liability coverage is that full coverage ensures that any damage done to your car can be covered by insurance. Liability insurance only protects you from claims when you are at-fault in an accident. You will still need to pay for any damage to your own car, you just won’t have to pay for damage you caused to another person’s car. Full coverage can cover damage to your car even if the other driver is not insured and cannot compensate you for damages.

Finally, all states require that you carry at least a liability insurance policy so that collision victims receive compensation in the event of an accident. At-fault drivers are likewise protected from claims resulting from an automobile accident.

Average Annual Car Insurance Rates in Colorado by City

Additional cities in Colorado you can check out.


Take Advantage of These Car Insurance Discounts

There are many car insurance discounts and ways to save on your policy in Arvada:

  • Raise your deductible

    If you are willing to pay more money for a deductible, in the event of an accident, then you can lower your insurance rates substantially. You can lower your premium to around 10% just by raising your deductible to around $1,000.

  • Drop Collision Coverage on Old Cars

    Dropping collision coverage on older cars can really help save you a lot, especially for cars that are more than ten years old and only worth four or five thousand dollars. Think about it, if you have an accident while driving an older car, are you really going to pay to repair it or just buy a new car?

  • Check Insurance Rates for Your Car’s Make and Model

    The make and model of your car can make a big difference in how much you pay for auto insurance. Therefore, before purchasing a new car, be sure and check the insurance rates for it as some can be much higher than others.

  • Shop Around to Check Rates from Numerous Insurance Companies

    The chart in this article should be enough proof to know that there can be a big difference in what various insurance companies charge for auto insurance. That is why it is a good idea to check rates from a number of insurance companies before deciding which plan to choose.

  • Drive Fewer Miles

    One of the questions asked when applying for auto insurance rates, is how many miles you drive regularly. This is because the more miles you drive, the more risk you are to the insurance company and the higher your insurance cost will be. Try to drive fewer miles, if possible, to save more money on your premiums.

  • Maintain a Good driving record

    Being a safe driver can not only save your life, but it can also save you a lot of money, too. There is a big difference in how much people with accidents on their record have to pay, and what those without any accidents pay. Therefore, always drive safely.

  • Live in a less populated area

    Your location matters when it comes to auto insurance rates. If you live in a highly populated area, your rates will be higher than if you live in a lower-population area. The Jefferson and New Orleans areas have some of the highest rates in Louisiana, but if you live just 30 minutes outside of the city, you can expect your rates to go down.

Learn more about driver discounts for car insurance rates here.

Here are Some of the Typical Factors that Affect Your Arvada, CO Car Insurance Premiums

Arvada drivers are likely to see their insurance rates change over time. There can be many factors, both positive and negative, that impact your regular premiums. One key thing that all drivers face is aging. As you mature as a person and as a driver, your insurance rates are likely to fall. Typically, older drivers are safer drivers. They are less likely to drink and drive, speed, or take unnecessary risks on the road.

Your rates are also dependent, in part, on the type of car you drive. Drivers who love high-powered sports cars will likely spend more for automobile insurance than those who drive less-exciting SUVs and sedans.

Rates are also tied to the deductible on the policy. If you carry collision or comprehensive (full) coverage and opt for a higher deductible, your premiums could be lower. That is, if a tree hits your car, you will pay more up front for the damage to offset the lower premiums you’ve been paying over time.

Do you have a bad driving record and need cheap insurance? Check out this guide.

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