The best car insurance in Lakewood, CO

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While the average cost of auto insurance in Colorado is $1,751 per year, prices are slightly higher in Lakewood. With rates averaging $1,943 per year, Lakewood residents often pay more for insurance than in the rest of the state.

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Even if you live in a city with high premiums, there are ways to save money on car insurance, and Policygenius can help. Our experts can help you find the best policy you need, and you can shop around with Policygenius to get quotes from many insurers at once.

Key Takeaways

  • With an average cost of $868, American National has the lowest rates in Lakewood.

  • Drivers with lower credit scores may find the most affordable coverage from GEICO, at around $1,597 per year.

  • Colorado requires $25,000 in bodily injury liability coverage per person and $50,000 per accident as well as $15,000 in property damage liability.

Cheapest car insurance companies in Lakewood, CO

Insurance rates are calculated using different pieces of information to determine the risk of a driver filing a claim. Each company looks at a lot of the same information, but they may not take each piece of data into account the same way.

The rates can also vary from person to person from the same company, depending on the driver’s background and experience.

Company

Average cost

JD Power Rating

American National

$868

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GEICO

$1,133

871

USAA

$1,173

890

State Farm

$1,296

881

Farmers Union

$1,547

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Cheapest car insurance rates by ZIP code in Lakewood, CO

Every insurance company takes location into account when determining car insurance rates. Congestion on the roads in densely populated communities can often lead to accidents while high crime rates correlate with higher instances of theft and vandalism, which can affect premiums.

ZIP code

Average cost

80214

$1,995

80215

$1,902

80226

$1,974

80227

$1,953

80228

$1,865

80232

$1,972

Choosing the right car insurance company in Lakewood, CO

Finding the right policy to suit your needs means working with a company that provides the coverage you want for a rate you can afford. If you’re ever in an accident, you want to trust that your insurance policy is going to cover you from the financial burden of medical bills and car repairs.

The experts at Policygenius can provide the information you need to make a confident decision, while also ensuring you get the best rates.

Car insurance rates for drivers with driving violations in Lakewood, CO

Your recent driving record is an important factor that goes into setting your insurance premium. Insurance companies look back over the last three to five years for traffic violations to determine how much risk you might pose as a driver, and higher-risk drivers may be charged higher premiums.

Violation

American National

GEICO

USAA

State Farm

Farmers Union

At-fault accident

$1,238

$1,973

$1,774

$1,528

$2,473

DUI

$1,393

$2,263

$2,613

$1,421

$2,616

Suspended license

$1,468

$1,804

$2,455

$1,421

$2,888

Open container

$1,238

$1,575

$1,956

$1,421

$2,616

Expired registration

$1,073

$1,255

$1,558

$1,421

$1,847

Driving without lights

$1,073

$1,581

$1,382

$1,421

$1,847

Not showing documents

$1,073

$1,255

$1,558

$1,421

$1,847

Running a red light

$1,073

$1,581

$1,558

$1,421

$2,234

Cheapest car insurance for drivers with bad credit in Lakewood, CO

Because of how insurance companies calculate risk, drivers with a low credit score often find themselves paying more for car insurance than those with good credit.

Company

Rates for drivers with bad credit

GEICO

$1,597

USAA

$2,640

State Farm

$2,665

Nationwide

$2,669

Farmers Union

$2,897

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Buying car insurance in Lakewood, CO

Drivers in Lakewood are required to have the minimum amount of car insurance required by the state of Colorado.

  • Bodily injury liability coverage per person: $25,000

  • Bodily injury liability coverage per accident: $50,000

  • Property damage liability coverage: $15,000

Since Colorado is an at-fault state, whichever driver is responsible for the collision is also responsible for paying the costs. Without insurance, that could mean being responsible for a very large bill.

All other coverage is optional in Colorado. Careful consideration should be given to whether you need personal injury protection, uninsured/underinsured motorist coverage, collision, or comprehensive coverage. When deciding on the best policy for you, these options could save you thousands in the long run.

How to get cheap car insurance in Lakewood, CO

Most companies will offer discounts to help bring down the cost of insurance. These discounts include:

  • Safe driver discount: Discounted rates for drivers with clean records. This discount is sometimes offered for taking a defensive driving course as well.

  • Discounts for people in certain roles: Some companies will offer discounts for students who meet a GPA or standardized testing requirement. Many companies also offer discounts to military members and their families, and you may be able to score a discount through your employer.

  • Shop around: Knowing what other companies are offering could save you a lot of money if you shop around when your policy is up for renewal.

Frequently asked questions

How does the type of car I drive affect my insurance rate?

Expensive cars tend to cost more to repair, and if the car is in an accident, the insurer could be paying for the damages. To cover the increased risk, insurance companies will charge more to insure expensive cars.

How often should I shop for car insurance?

Many factors in your life affect your insurance premium and those factors often change over time—your age, location, even your driving record. By shopping around for new insurance every one to three years, you can make sure you’re paying the cheapest rate available.

What can I do to improve my credit score?

Make sure your credit report is correct and there aren’t any errors impacting your score. Always pay your credit card bill on time and try to increase your limit without adding to your debt. Limiting the number of inquiries into your credit can also help.

Why do young drivers pay more for insurance premiums?

Since young drivers lack experience, insurance companies charge more to insure them. The price of insuring a teenager can be steep, but fortunately the amount you pay goes down a little every year until they turn 25.

Methodology

Policygenius has analyzed car insurance rates provided by Quadrant Information Services for every ZIP code in all 50 states plus Washington, D.C. For full coverage policies, the following coverage limits were used:

  • Bodily injury liability: 50/100

  • Property damage liability: $50,000

  • Uninsured/underinsured motorist: 50/100

  • Comprehensive: $500 deductible

  • Collision: $500 deductible

In some cases, additional coverages were added where required by state or insurer.

Rates for overall average rate, rates by ZIP code, and cheapest companies determined using averages for single drivers ages 30, 35, and 45. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles/year.

Rates for driving violations and “Poor” credit determined using average rates for a single male 30-year-old driver with a credit score under 578.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.