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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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

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Last Updated: 7/30/2022
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The cheapest car insurer in Lakewood is GEICO, but the best for you depends on your profile and coverage needs. GEICO averages the cheapest rates for minimum coverage and with a speeding ticket. If you have a military background, USAA may be the best-priced. MoneyGeek found State Farm offers the best balance of affordability and quality service in Lakewood.

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The Cheapest and Best Car Insurance in Lakewood

The Cheapest Car Insurance Companies in Lakewood

For a full coverage policy in Lakewood, the most affordable auto insurers are:

  • GEICO: $814 average per year
  • Travelers: $1,029 average per year

USAA, which costs roughly $655 yearly, is the cheapest for full coverage in Lakewood for drivers with military backgrounds.

Compared to the most expensive option, Progressive, which costs $2,161 per year, GEICO can save people up to 62%.

A full coverage policy comes with comprehensive and collision insurance that cover damage to your car. The price of your policy depends on the liability coverage you select.

Cheapest Car Insurance in Lakewood
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    USAA
    $655
  • 2.
    GEICO
    $814
  • 3.
    Travelers
    $1,029
  • 4.
    State Farm
    $1,060
  • 5.
    Esurance
    $1,161
  • 6.
    Nationwide
    $1,182
  • 7.
    Allstate
    $1,214
  • 8.
    Farmers
    $1,909
  • 9.
    American Family
    $2,000
  • 10.
    MetLife
    $2,065
  • 11.
    Progressive
    $2,161

MoneyGeek obtained average rates for a 40-year-old male driver in Lakewood with a full coverage policy, as described in our methodology.

Choosing a full coverage policy means you pay a higher premium, but you get, in addition to liability coverage, added protection:

  • Comprehensive insurance: covers your car for damages from risks such as vandalism.
  • Collision insurance: covers your car in case of a collision with another vehicle or stationary object.

When insuring an older car, the cost of a full coverage policy may be more than the car’s value, so a state minimum coverage policy may be better.

Compare Car Insurance Rates in Lakewood

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

Cheapest Car Insurance in Lakewood for Minimum Coverage

If you want the cheapest car insurance in Lakewood, go with a minimum coverage policy. In Lakewood, the cheapest insurers for minimum coverage are:

  • GEICO: $354 average per year
  • State Farm: $500 average per year

For drivers in the military and their families or veterans, USAA is cheapest for minimum coverage at around $283/year.

The most expensive is Progressive at $1,384 per year — 74% more than the cheapest, widely available option, GEICO.

While minimum coverage is cheap, you risk being not fully covered since the policy does not carry comprehensive or collision insurance or high liability amounts.

Toggle the table below to see how much higher liability coverage costs.

Cheapest Minimum Liability Car Insurance in Lakewood
State Minimum

A state minimum coverage policy in Lakewood includes only the minimum liability limits required by Colorado, 25/50/15. It is the cheapest policy available, but it offers limited protection in an accident.

For example, a minimum coverage policy only carries $15,000 in property damage liability. If you cause an accident where the property damage is $20,000, you have to pay $5,000 out of pocket.

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.

Cheapest Car Insurance in Lakewood if You Have Driving Violations

Drivers in Lakewood with violations, like a DUI, at-fault accident or ticket, pay more for car insurance. If you have a violation, the most affordable car insurers in Lakewood, on average, are:

  • Cheapest after a ticket: GEICO, $1,031 per year
  • Cheapest after an at-fault accident: State Farm, $1,226 per year
  • Cheapest after a DUI: State Farm, $1,143 per year

If you have a military background, USAA offers the lowest rate for drivers with a speeding ticket or at-fault accident.

You can work on improving your driving record to get lower premiums in Lakewood. Until then, find the best rate after a violation by comparing auto insurance quotes.

Cheapest Car Insurance in Lakewood With a Violation
Speeding Ticket

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.

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.

Compare Car Insurance Rates in Lakewood

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

The Best Car Insurance Companies in Lakewood

MoneyGeek analyzed average rates, claims ratings and customer satisfaction to find the top car insurance companies in Lakewood. We determined that the best auto insurers in Lakewood are:

  • State Farm: MoneyGeek score of 87.2 out of 100
  • GEICO: MoneyGeek score of 86.6 out of 100

Although it received a perfect score of 100, USAA was excluded from MoneyGeek’s rankings because it's limited to eligible military personnel. But, USAA is the best car insurance company in Lakewood with a military background.


1
State Farm
Score:90

3/5

Affordability

3/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

Geek Quick Take
Geek Quick Take

With a full coverage policy for a 40-year-old driver costing roughly $1,060 per year, State Farm is the best auto insurance company in Lakewood. It earned a perfect score for customer satisfaction and high ratings for affordability and claims. Policyholders can add rideshare insurance with State Farm.

More About State Farm

State Farm offers rideshare insurance, which is a unique add-on coverage ideal for Lakewood drivers working for a ridesharing company. It extends coverages in your policy, like medical payments, emergency roadside assistance and rental car reimbursement, when your ridesharing app is on and you’re available for hire. After matching with a rider or while transporting a rider, the only coverage that doesn’t apply is liability. Additionally, State Farm offers common add-ons, such as roadside assistance and rental car and/or travel reimbursement.

Read MoneyGeek's State Farm auto Insurance Review
2
GEICO
Score:90

5/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

Geek Quick Take
Geek Quick Take

GEICO received high ratings for affordability, claims and customer satisfaction. It offers a 40-year-old a full coverage policy at an average annual rate of $814 in Lakewood. GEICO’s add-on mechanical breakdown insurance is a rare offering.

More About GEICO

With GEICO, you can add mechanical breakdown insurance to cover new or leased cars that are less than 15 months old and with less than 15,000 miles. It’s unique yet widely available and covers all parts and systems in the vehicle — more than a dealer's extended warranty at a cheaper price. GEICO also offers accident forgiveness as an add-on or earnable benefit to Lakewood drivers, which makes sure that your insurance rate won’t increase following your first at-fault accident. After five years of being accident-free after age 21, you get accident forgiveness without an additional cost, but you can add it to your policy for a price before then.

Read MoneyGeek's GEICO auto Insurance Review

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

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.