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Are you looking for auto insurance in Lakewood, CO? At AutoInsuranceEZ.com, you can get the best insurance rates locally. To obtain free car insurance quotes from the very best providers today, enter your zip code into the quote box on this page.

Lakewood is recently incorporated back in the year 1969 once its population reached approximately 90,000 people. Before that, it had to rely on police and fire department services borrowed from nearby towns and volunteer forces. It is located slightly west of Denver. Learn more about Colorado auto insurance requirements here.

  • Fun fact: Did you know that Lakewood is #6 on the list of “Top 100 highest located cities (pop. 50,000+)”? Learn more about Lakewood.

Auto Insurance Coverage Requirements in Colorado

Below are the legal requirements for automobile insurance in Colorado:

Coverage Requirements Most Common
Bodily Injury Liability 25,000/50,000 100,000/300,000
Property Damage Liability 15,000 100,000
Uninsured Motorist Bodily Injury Not required 100,000/300,000
Medical Payments Not required 5,000
Collision Not required 500 deductible
Comprehensive Not required 100 deductible

If you think Liability coverage will be enough, give that decision a little extra thought. After all, Liability coverage only pays out claims if the incident was something you were deemed liable for. Which means that if someone hits you, or an act of nature damages your vehicle, you are 100% responsible for those costs. Your insurance company won’t pay a cent.

Right now, average rates are estimated at $130/month for the state of Colorado. However, living in Lakewood can net you monthly premiums as low as $51*. The trick is to know what discounts are available, and how to ask for them.

Average Monthly Auto Insurance Premiums Legend: Lakewood Farmers The Heartford State Farm Amica Allied 5 10 15 20 25 30 35 40 45 50 $42 $50 $48 $52 $52

 

Whether you’re getting coverage from Farmers, The Hartford, or State Farm, you’re probably getting the lowest possible premium in Lakewood right now. Just remember that there are other elements to a good provider than low rates. Customer service is important, as well as how quick and efficient their claims service is.

Auto insurance providers consider many elements when establishing insurance quotes, including driving violations, accident claims, Type of vehicle owned, miles driven each year, and multiple cars and drivers. In addition, premiums vary from company to company. To find out whether you’re still receiving the cheapest rate, compare cheap Lakewood auto insurance quotes online.

Major Car Insurance Factors in Lakewood

There is a variety of many things which could factor into the rate quotes you get. While many of these details aren’t actually something you can do something about, a few of them are variables which you can change for the better. Here are a few things which can change your car insurance premium:

  • Your Zip code

Your auto insurance rates may differ depending on where you call home. In general, highly populated cities have higher auto insurance rates because the extra amount of drivers on the road increases the likelihood of an accident! The population of Lakewood is 147,214 and the median household income is $55,792.

Auto Insurance by Zip Code Legend: Denver Colorado Springs Aurora Fort Collins Lakewood Farmers The Heartford State Farm Amica Allied 5 10 15 20 25 30 35 40 45 50 55 $43 $40 $45 $30 $42 $47 $45 $51 $41 $50 $51 $45 $54 $39 $48 $51 $45 $52 $37 $52 $56 $48 $57 $41 $52

 

  • Automotive Accidents

The lower the accident statistics are in your zip code, the less your car insurance company will charge you each month. Although there have been a handful of fatal accidents in Lakewood within the past couple of years, it does have fairly safe statistics given its population.

Fatal Accidents in Lakewood, CO Legend: Lakewood Fatal accident count Vehicles involved in fatal crashes Fatal crashes involving drunk persons Fatalities Persons involved in fatal crashes Pedestrians involved in fatal accidents 5 10 6 10 1 6 8 2

 

  • Auto Thefts in Lakewood

Even in small cities or rural towns, auto theft can still be a problem. In order to make it less of a problem for you, think about installing a passive anti-theft system on your car. Your auto insurance company may reward you with lower rates! In Lakewood, there were 521 auto thefts in 2010.and discuss comprehensive insurance coverage

Basic vs. Comprehensive Auto Policy Legend: Basic Coverage Comprehensive Coverage Farmers The Heartford State Farm Amica Allied 15 30 45 60 75 90 105 120 135 150 $42 $107 $50 $113 $48 $122 $52 $164 $52 $88

 

  • Your Credit Score

Although it may not seem fair, your credit score has a huge influence on how much your insurance will charge you for your auto policy. The higher your score is, the lower your rates will be – and vice-versa. Drivers with poor credit could be charged double or more than motorists with an “Excellent” credit score.

Auto Insurance by Credit Score Legend: Excellent Credit Poor Credit Farmers The Heartford State Farm Amica Allied 10 20 30 40 50 60 70 $28 $73 $38 $69 $35 $68 $33 $79 $47 $58

 

  • Your Age

The older you are, the more experience you will likely have behind the wheel. With this experience comes lower monthly premiums. That’s why teenage drivers are charged so much more – their lack of experience makes them a much riskier investment.

Auto Policy Age Comparison Legend: 34 Year Old 17 Year Old Farmers The Heartford State Farm Amica Allied 50 100 150 200 250 300 350 $42 $374 $50 $172 $48 $124 $52 $192 $52 $141

 

  • Your Driving Record

Several major insurance providers are adopting an “accident forgiveness” discount policy. This means that your provider will offer to ignore one or more recent minor driving violations in favor of offering you a lower rate.

Driving Violations Legend: Perfect Record Minor Speeding Ticket DUI/Reckless Driving Major At-Fault Accident Farmers The Heartford State Farm Amica Allied 15 30 45 60 75 90 105 120 135 $42 $43 $51 $45 $50 $47 $56 $59 $48 $44 $44 $47 $52 $61 $149 $53 $52 $56 $89 $69

 

  • Your Vehicle

Thinking about insuring a luxury vehicle? Well, keep in mind that it will cost you more in premiums each month than your typical, average car. Not only are these vehicles more expensive to repair or replace, but you will require much more insurance coverage – which will yield higher monthly rates.

Car Insurance by Make/Model Legend: 2015 Honda Accord 2012 Porche Boxster Spyder Farmers The Heartford State Farm Amica Allied 20 40 60 80 100 120 140 $42 $93 $50 $127 $48 $123 $52 $140 $52 $137

 

Minor Car Insurance Factors in Lakewood

Most people aren’t aware that some or all of the following factors can influence your rate too:

  • Your Marital Status

Married couples have an advantage when it comes to auto insurance: bundled discounts. By bundling your insurance policy with your spouse, you can both save on your premiums each month. The only catch is that you have to bundle with the same company.

  • Your Gender

These days, fewer and fewer companies are charging different rates based on gender. Many major providers charge the same, all other attributes being equal. Even if your provider does alter premiums based on gender, they are unlikely to waver by more than 2-3%.

  • Your Driving Distance to Work

Because Lakewood is located so close to Denver, Lakewood workers can take 22-27 minutes to drive to work on average, but it isn’t uncommon for the work commute to last up to 30 minutes or more. Fewer than 4% of residents try to carpool.

You’d think that limiting your mileage each year would yield serious discounts. Unfortunately, you’d be wrong. At best, you can only lower your monthly premium by about 3-4%. Be careful, though, before listing your vehicle as a business vehicle on your policy. Those types of automobiles can cost over 10% more to insure each month than vehicles used for work, school, or pleasure commutes.

  • Your Coverage and Deductibles

If you want to add more coverage to your policy, but don’t want to pay a fortune in premiums, consider raising your deductible. Even increasing it by a hundred dollars or more can seriously cut down your monthly costs.

  • Your Education

Don’t worry about having a specific job or making so much money per year, because getting a higher education is one of the best ways you can save money on your car insurance. While many Lakewood motorists typically have high school diplomas, but great numbers also have bachelor’s degrees.

While the local options for a higher education in Lakewood might be a bit sparse, nearby Denver is a major city with ample supply of universities and community colleges. There are also options in Golden for those who don’t want to travel that far. For a private option, you might want to check out Colorado Christian University.

Finding affordable auto insurance can be a hassle. There’s a lot of information you need to consider and, figuring out how insurance companies evaluate your potential risk can be complicated. But don’t let the wrong insurance company talk you into purchasing the wrong policy.

How We Conducted Our Car Insurance Analysis

*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.

Sources:

Colorado Division of Insurance

Colorado Division of Financial Services

Department of Highway Safety and Motor Vehicles

City-Data.com

Census.gov
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