Chris Tepedino is a feature writer that has written extensively about car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, research investigative pieces…

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states…

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UPDATED: Aug 14, 2020

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Cheap car insurance in Lakewood, CO is offered by Farmers with rates as low as $42 per month. Colorado auto insurance requires all drivers to carry 25/50/15 in liability coverage. However, we recommend carrying more than the Lakewood, CO auto insurance minimum, or you may find yourself in trouble if you have an accident.

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.

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

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

Auto Insurance Coverage Requirements in Colorado

Below are the legal requirements for automobile insurance in Colorado:

CoverageRequirementsMost Common
Bodily Injury Liability25,000/50,000100,000/300,000
Property Damage Liability15,000100,000
Uninsured Motorist Bodily InjuryNot required100,000/300,000
Medical PaymentsNot required5,000
CollisionNot required500 deductible
ComprehensiveNot required100 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 Lakewood, CO auto insurance 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 Lakewood, CO cheapest auto insurance, compare cheap Lakewood auto insurance quotes online.

Enter your zip code below to view companies that have cheap auto insurance rates.

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Major Factors in Cheap Auto Insurance in Lakewood, Colorado

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 low cost auto insurance Lakewood, CO monthly. 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 Lakewood, CO auto insurance agents 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 Factors in Cheap Auto Insurance in Lakewood, Colorado

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 Lakewood, Colorado car insurance agencies do 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 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 Lakewood, CO auto insurance can be a hassle. There’s a lot of information you need to consider and, figuring out how Lakewood, CO auto 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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