Compare the Cheapest Car Insurance Quotes in Lakewood, CO

Car insurance in Lakewood costs an average of $1,459 yearly, higher than the average in Colorado. GEICO offers the policy that is most affordable and widely available at $814. MoneyGeek determined the cheapest insurers using coverage amount and driving history. Balancing both quality and price, MoneyGeek also listed the best auto insurance companies in Lakewood.

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The Cheapest and Best Car Insurance in Lakewood

The Cheapest Car Insurance Companies in Lakewood

In Lakewood, the insurers that offer the cheapest full coverage policy on average are:

  • USAA: $655 per year (only available to present and former military members)
  • GEICO: $814 per year

Affordability is one of the main considerations drivers have when looking for the best car insurance. You can find cheap car insurance in Lakewood by comparing quotes from multiple providers.

The most affordable car insurance company in Lakewood is USAA. The average annual premium for a USAA policy is $655. However, only military members, veterans and their families can get auto insurance from USAA.

If you don’t qualify for USAA, your cheapest option is GEICO. On average, GEICO policyholders pay 165.5% less than they would pay with Progressive, the most expensive car insurance provider in Lakewood.

These prices are for a 40-year-old male driver with a full coverage policy. It includes both liability insurance and comprehensive and collision insurance.

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Average Cost of Car Insurance in Lakewood

Lakewood$1,459
Colorado$1,450
U.S.$1,424

The average car insurance rates in Lakewood are slightly higher than the average state and national premiums.

Lakewood drivers pay an average of $1,459 per year. This is 0.6% higher than the state average and 2.5% more than the national average.

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The Best Car Insurance Companies in Lakewood

If you’re a driver who values both cost-effectiveness and superior service, MoneyGeeks ranked the best companies in Lakewood for you. Here are the city’s top car insurance companies based on MoneyGeek’s scoring system:

  • State Farm: MoneyGeek score of 90 out of 100
  • GEICO: MoneyGeek score of 90 out of 100

USAA received the highest score in Lakewood by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.

MoneyGeek uses factors such as J.D. Power user satisfaction, affordability and financial stability to compute the scores.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
State Farm
Score:90

3/5

Affordability

3/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

3
GEICO
Score:90

5/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

4
Allstate
Score:83

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

5
CSAA
Score:83

5/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

6
Liberty Mutual
Score:83

3/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

7
American Family
Score:80

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

8
Travelers
Score:80

2/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A++

Financial Stability

9
Safeco
Score:78

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

10
Farmers
Score:78

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

11
Progressive
Score:78

3/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

12
Nationwide
Score:75

2/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

Personalized Quotes to Get You the Cheapest Car Insurance in Lakewood

When calculating car insurance quotes in Lakewood, companies evaluate factors like age, gender, car make and model, driving history, marital status and credit score.

For example, a 40-year-old male in Lakewood could pay an average of $814 per month for a policy with GEICO. These rates can go up or down as the driver ages, if he gets a different car or his credit score changes.

It’s important to regularly compare car insurance quotes to make sure you have the right policy at the most affordable price.

Shopping around for car insurance in Lakewood could save you $645, which is enough to buy:


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215Cups of Coffee
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50Months of Your Favorite Streaming Service

Cheapest Car Insurance in Lakewood by Coverage Amount

In Lakewood, the price of your policy is greatly affected by the amount of coverage you buy. An insurance policy that meets the minimum liability requirements in Colorado costs an average of $780 yearly. In comparison, a full coverage policy with higher liability limits is $1,459 on average. This is a difference of $679.

Colorado Minimum Liability Requirements

  • Item
    Description
  • Bodily Injury and Property Damage
    $25,000 per person, $50,000 per accident and $15,000 for property damage. A more protective level is 100/300/100.

While the best car insurance in Lakewood is the option that addresses your needs as a driver, the cheapest car insurance is a state minimum liability-only policy. However, this provides limited protection and could be insufficient for your needs.

If you want a more robust policy, you can choose a 50/100/50 liability-only or full-coverage plan. A liability-only plan will cover expenses the other driver incurs if you are at fault in an accident. Full-coverage plans will pay for your costs as well as the other driver’s if you cause an accident.

The 50/100/50 numbers refer to policy payout limits. With these limits, you can receive up to $50,000 per person in medical expenses, totaling no more than $100,000 per accident and $50,000 for property damage.

A GEICO full-coverage policy typically costs an average of $245 more than a liability-only plan.

Average Car Insurance Premiums: Liability-Only vs. Full Coverage

Liability Only
Full Coverage
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Cheapest Car Insurance in Lakewood if You Have Driving Violations

Having accidents, tickets or a DUI on your driving record will increase your car insurance rates.

Drivers in Lakewood who have a policy with GEICO and get a speeding ticket may pay an average of $217 more per year for coverage. A DUI may cost drivers an extra $1080 each year, while an at-fault accident can cost an average of $580 more per year.

Average Cost of Car Insurance by Postal Code

It’s not uncommon for auto insurance prices to vary based on the neighborhood the driver lives in, even if the city is the same. This is because statistics on accidents, car thefts and uninsured motorists may differ between ZIP codes.

In Lakewood, drivers living in ZIP code 80227 pay an average of $13 less per year than those living in the 80226 neighborhood.

  • Zip Code
    State Minimumper year
  • 80227
    $1,453
  • 80226
    $1,466

Factors That Impact Insurance Costs in Lakewood

In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fatal accidents also contribute to car insurance rates in Lakewood. How Lakewood ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities61st/300
handcuffs2 icon
Most Car Thefts278th/300
uninsured icon
Most Uninsured Motorists by State19th/50
insurance2 icon
Personal Injury Protection RequiredNo
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Most Annual Rainfall233rd/300
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Most Rainy Days176th/300

Methodology and Assumptions

MoneyGeek’s average premium rates for Lakewood are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.

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About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.