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How much is car insurance in Loveland?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that it's about $5 a month cheaper to insure your vehicle in Loveland than it is in the rest of Colorado.
If you're thinking of moving to Loveland from out of state, you may still be in luck. You can expect to pay about $14 below the national average for auto insurance in Loveland.
While these numbers are the average rates for auto insurance in Loveland, that doesn't mean it's what you'll pay. Insurance companies take in a variety of factors when determining how much to charge you for your car insurance. The final dollar amount you'll be asked to pay each month is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
We've broken down the average rates for Loveland to help you understand what exactly you might be asked to pay. If you think you might be overpaying for insurance in your area, enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It's pretty safe to assume that the older you are, the longer you've been driving, right? That experience can really work in your favor when it comes to auto insurance. As you can see, 18-24-year-olds pay $56 more than someone who is retirement aged.
You can expect to see your monthly premium drop about once a decade or so. Once you hit retirement age, however, you may see your rates rise again in Loveland.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. In Loveland, the difference comes out to about $5 per month. Based on the chart above, you can see that female drivers pay around $65 on average, while male drivers typically pay $70 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. A clean driving record will get you a lower rate than one with even just a single accident or infraction. Drivers in Loveland with one accident will pay around $89 a month. In addition, drivers with one ticket can expect to pay around $77 a month on average.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$71|
|15 Years or Older||$71|
As you can see in the first table above, the cheapest vehicles to insure in Loveland are usually trucks and vans, which run about $59 per month.
Car owners can expect to pay an average of around $67 a month for their policy, while SUVs usually cost around $71 a month to insure.
Vehicle age can also affect your monthly bill. Generally, newer vehicles are going to be the most expensive to insure. Once your car is a few years old, however, you may see your rates begin to drop back down. In Loveland, the most expensive vehicles to insure are vehicles less than or equal to one-year-old and fifteen years and older.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$71|
Overall, those who have settled down into marriage will pay slightly less for car insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Loveland, with married couples paying about $8 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$85|
One other element taken into consideration is your housing status. If you rent your home or apartment in Loveland, expect to pay around $15 a month more than if you own property. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Loveland, CO
Recent trends in car insurance for Loveland drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending when choosing when and where to shop.
In Loveland, the rates for car insurance had been increasing consistently from 2017-2021. They finished down in 2022, at $78.
How does Loveland compare to neighboring areas?
Why are car insurance rates in Loveland different from other areas?
There are a number of factors car insurance companies take into consideration when deciding how much to charge for a monthly rate. The specifics of where you live and drive will have an impact on your personal policy. This might include things like:
- Road Safety (total number of local car accidents)
- Off-street parking access
- Regional crime rates
- Amount of drivers
- Regional laws
While you won't have the ability to change these factors yourself, they can be handy to keep in mind when seeking a new policy or considering 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 getting familiar with 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.
Good news! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions regarding the factors mentioned above, and you'll be comparing the cheapest quotes from several of the car insurance companies that offer coverage in Loveland.
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Loveland Insurance FAQs
What factors affect car insurance quotes in Loveland?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your vehicle's year, make and model, as well as your driving record, credit score, address, and marital status.
Why is the cost of car insurance in Loveland different from other neighboring cities?
Things like crime rates, local laws, and parking situations, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Loveland?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Loveland?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Loveland or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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