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How much is car insurance in Loveland?
|Area||Average Monthly Car Insurance Premium|
Looking at the chart above, you can see it's around $8 a month cheaper to insure your vehicle in Loveland than it is in the rest of Colorado.
Compared to the rest of the country, auto insurance in Loveland is more affordable. It's about $17 cheaper than the national average to insure your vehicle in Loveland.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay to get car insurance. The final dollar amount you'll be asked to pay each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
Don't worry, we've done the work for you and broken down the average rates for Loveland to help you understand what your monthly premium might be. To find out if you're getting the cheapest rate, just enter your ZIP below and find out in minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
It's pretty safe to assume that the older you are, the longer you've been driving. When it comes to auto insurance premiums, that experience pays off. As you can see, 18-24-year-olds pay two times as much as someone who is retirement aged.
You can expect to see your monthly premium drop about once a decade or so. Once you hit retirement, however, your rates may creep back up in Loveland.
Average Car Insurance Rates by Gender
Male drivers pay, on average. slightly more than female drivers for auto insurance. In Loveland, however, men actually pay a bit less than female drivers for insurance coverage.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. Drivers who avoid accidents and tickets will pay significantly lower rates than those with infractions. In Loveland, a driving record with a single accident will usually get you a rate around $91 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $123.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$67|
|15 Years or Older||$65|
In terms of affordable coverage, the cheapest vehicles to insure in Loveland are usually trucks and vans, at $54 per month.
Car owners can expect to pay an average of around $66 a month for their policy, while SUVs usually cost around $63 a month to insure.
Your vehicle's age has an impact on the cost of your policy as well. Generally, newer vehicles are going to be the most expensive to insure. Once your car is close to 5 years old, however, you may see your bill start to shrink a bit. The most expensive vehicles to insure in Loveland are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$67|
Generally, those who have settled down into marriage will pay slightly less for car insurance. This occurs because insurance companies commonly award special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Loveland is no exception, with the difference totaling to around $4 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$85|
Another factor that comes into play is your living situation. Homeowners in Loveland can expect to pay around $9 a month less than those who rent. Those who live with their parents, however, can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Loveland, CO
Recent trends in car insurance for Loveland drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.
Auto insurance rates in Loveland dropped from 2016-2017, when they reached a low of $52. This trend leveled out in 2018, when they began to increase, and have continued moving in that direction through the present, where rates finished at $69 a month.
How does Loveland compare to neighboring areas?
Why are car insurance rates in Loveland different from other areas?
There are a lot of factors car insurance companies take into consideration when choosing how much to charge for a monthly rate. While we mentioned the factors that affect your personal policy, others are based around where you park your car. These include things like:
- Road safety
- Rate of crime
- Off-street parking access
- Total amount of drivers in the area
It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider making a move. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Loveland?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But hold on! Compare.com can handle all of this for you. Simply enter your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be quickly comparing the cheapest quotes from several of the car insurance companies offering policies in Loveland.
Loveland Insurance FAQs
What factors affect car insurance quotes in Loveland?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your age and gender, as well as your marital status, credit score, address, and driving record.
Why is the cost of car insurance in Loveland different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, crime rates, and local laws when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Loveland?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Loveland?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Loveland or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?