Who Has the Cheapest Car Insurance Rates in Centennial?

Centennial, Colorado, located at the southern end of the Denver-Aurora-Lakewood Metropolitan Area, has a population of nearly 111,000. The median household income is higher here than in many other cities at $105,974. The average commuting time to work for anyone driving a vehicle is 26 minutes, just under the 26.6 average for the United States as a whole.

Neighborhood Scout notes that the vehicle theft rate in Centennial is 178 per 100,000, which is lower than the Denver-Aurora-Lakewood Metropolitan Area as a whole, which is in the top 15 municipalities for the highest rate of vehicle thefts in the United States. The National Insurance Crime Bureau (NICB) indicates that in 2018, this area had 14,845 thefts for a rate of 506.24 for every 100,000 vehicles.

The area’s overall theft rate plays into automobile insurance rates as Centennial, CO residents pay an average of $1,759 per year for a policy. That’s less expensive than the Colorado average of $1,814 and pricier than what most people pay for in the United States at $1,679.

How Much Auto Insurance Coverage is Needed for Centennial Drivers?

Colorado is like many other states in that drivers are required to have a policy that provides $25,000 in body injury liability per person, $50,000 in bodily injury liability per accident, and $15,000 in property damage liability for each accident.

However, those are just the minimums. If you can afford premiums for more than the minimum coverage, you may want to should do so because higher coverage will protect your personal assets. The problem only occurs when you are involved in a catastrophic accident and you are at fault. If you have minimum coverage, you might not be fully covered by your insurance. Another good idea is to add optional types of insurance coverage that will cover your injuries along with other types of coverage comprehensive for non-collision damage, no-fault collision insurance to cover damage for your vehicle, and uninsured and/or underinsured motorist insurance. Some policies also offer roadside assistance and towing and rental car reimbursement.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Centennial by Insurer

Even though household income is higher in Centennial than in other parts of Colorado, drivers will still look for economical insurance because of Colorado’s high insurance rates due to dense population and the need to drive everywhere. Companies offering cheap policies include Progressive Direct Insurance Co., Farmers Insurance Exchange, Allstate Fire and Casualty Insurance Co., Geico Casualty Co., and State Farm Mutual Auto Insurance Co. Before deciding on a policy, make sure to check what the policy covers along with the company’s reputation to ensure that you get the coverage you need and the customer service you deserve.

Use this guide to compare the best auto insurance premiums by company.

Low Cost Auto Insurance for Bad Credit in Centennial

Insurance companies in Colorado cannot deny you coverage if you have bad credit. However, your credit score is one factor that influences the rates you pay and, if it’s poor, you can expect to pay a higher premium.

Learn about how your credit score can negatively impact your insurance rates.

Full Coverage Vs. Liability, Which is Best For You?

What is Liability-Only?

Liability-only policies cover any damage you do as a driver, or which results from your automobile. These policies meet the minimum requirement for drivers in Fresno, California and are generally the cheapest. That is because the policy does not cover your car. Thus, if an uninsured driver hits your car, and is at fault, any damage you incur must be repaired at your expense. You will also be unable to make a claim if your car is damaged due to weather or as a result of some other non-driving incident.

Full Coverage Auto Insurance

Full coverage is not a category used by insurance companies. Rather, it is a colloquial term used to describe policies that cover both you and other drivers. Thus, if you are in a collision with an uninsured motorist, you can make a claim to repair damage to your car. If your car is injured by some other sort of accident or even vandalism, you can claim those repairs, too.

When you purchase a car on a financing plan, your lender will probably insist that you cover the car with a comprehensive policy that will cover any damage. Even if you purchase a car outright you might want to purchase a comprehensive policy so that your beautiful car remains pristine for as long as possible.

Difference Between the Two Types of Coverage

The main difference between liability and full coverage insurance is that full coverage will cost more than liability insurance and this is because it protects you against many more possible risks that liability doesn’t cover.

In addition, liability insurance only covers other people’s injury claims and damages to other vehicles where full coverage will cover other’s injuries and vehicle damages as well as your injuries and damage to your own vehicle.

Average Annual Car Insurance Rates in Colorado by City

Additional cities in Colorado you can check out.

Ways to Obtain a Lower Cost Auto Insurance Policy

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

  • 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.

Find the best discounts on car insurance using this guide.

These are the Common Reasons for Insurance Rates in Centennial CO

  • Gender
  • Marital Status
  • Age
  • Number of Violations
  • Credit Report/Score
  • Location
  • Driving Record
  • Insurance Company
  • Make and Model of your car
  • Your Insurance Plan
  • How many cars you have insured
  • Your Occupation
  • Miles you drive per year

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

Helpful Centennial, Colorado Vehicle Resources:

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