By: Ishan Mukhopadhyay Jun. 07, 2018

Raltin recently conducted an analysis of car insurance premiums for Denver, Colorado, and found that consumers can save between $617 and $1,152 depending on the companies they choose. The greatest difference between the cheapest and median car insurance prices is for 21-year-old single males, at $1,152. The cheapest car insurance policy for this cohort is offered by Privilege Underwriters Reciprocal Exchange, at $948, while the median policy comes from Horace Mann Property and Casualty Company, at $8,513. For this analysis, Raltin used data published by the Colorado Department of Regulatory Agencies Division of Insurance.

The vehicle chosen for this analysis is a 2012 Ford Fusion S FWD, 2.5 liter Duratec L4 Engine, 6-speed car. The comprehensive collision deductible chosen is $500. The underinsured motorist per occurrence limit chosen is $50,000/$100,000/$300,000. The uninsured motorist per person limit chosen is $25,000/$50,000/$100,000. The property damage limit chosen is $15,000. The bodily injury per occurrence limit chose is $50,000/$100,000/$300,000. The bodily injury per person limit chosen is $25,000/$50,000/$100,000. All driver cohorts analyzed had a driving record of no accidents or traffic convictions in the past 3 years, driving 10–15 miles to work each way.

For 21-year-old single females the cheapest premium offered is by Privilege Underwriters Reciprocal Exchange, at $763. The difference between this price and the median rate for this cohort stands at a significant amount, at $1,137. For 35-year-old married males this difference is $719. Once again, Privilege Underwriters Reciprocal Exchange offers the cheapest rate for this cohort, at $408.

For 21-year-old single males the most expensive premium is offered by American Hallmark Insurance Company, at $8,349. Consumers can save up to $6,249 by buying a median-priced premium at $2,100. The savings are noteworthy.

Privilege Underwriter Reciprocal Exchange offers the cheapest premiums for all four of the cohorts analyzed in Denver, Colorado. LM Insurance Corporation offers the most expensive rates in three of the four driver cohorts. The former company offers prices starting at $382 and ranging up to $948, based on driver background and history. The price of premiums offered by the latter company range from $3,741 to $8,349.

The following graph shows a comparison of premiums across companies for Denver, Colorado.

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The following table compares the car insurance premiums for key companies in Denver, Colorado, along with the names of the companies and the differences between the median and cheapest or most expensive rates.

CohortCheapest Car Insurance Companies in Denver, COSecond Cheapest Car Insurance Companies in Denver, OKMedian Car Insurance Companies in Denver, COSecond Most Expensive Car Insurance Companies in Denver, COMost Expensive Car Insurance Companies in Denver, CODifference b/w Cheapest and Median PricesDifference in Price from Most Expensive to Median Prices
68-year-old married femalesPrivilege Underwriters Reciprocal Exchange ($382)Shelter General Insurance Company ($419)Federal Ins Co ($999)LM Insurance Corporation ($3,196)LM Insurance Corporation ($3,741)$617$2,742
35-year-old married malesPrivilege Underwriters Reciprocal Exchange ($408)Shelter General Insurance Company ($413)ANPAC ($1,127)LM Insurance Corporation ($3,649)LM Insurance Corporation ($4,181)$719$3,054
21-year-old single femalesPrivilege Underwriters Reciprocal Exchange ($763)Progressive Direct Insurance Company ($1,008)Response Insurance Company ($1,900)American Hallmark Insurance Company ($6,633)LM Insurance Corporation ($6,861)$1,137$4,961
21-years-old single malesPrivilege Underwriters Reciprocal Exchange ($948)Progressive Direct Insurance Company ($1,008)Horace Mann Property & Casualty Insurance Company ($2,100)American Hallmark Insurance Company ($8,285)American Hallmark Insurance Company ($8,349)$1,152$6,249


ABOUT THE AUTHOR

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Ishan Mukhopadhyay

Ishan has over 5 years of experience as a freelance journalist and a content writer. He graduated from The English and Foreign Languages University and holds a Masters degree from the University of Hyderabad. Apart from the English language, Ishan's other passion is data driven journalism.

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