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How much is car insurance in Parker?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, car insurance rates in Parker are slightly more expensive than the rest of Colorado.
However, car insurance rates in Parker are more affordable than the national average. Car insurance rates for the U.S. as a whole are, on average, $7 more expensive than the rates you'd pay in Parker.
These rates may be the average amount Parker residents pay for their insurance policy, but that doesn't mean it's exactly what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay to get car insurance. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the final dollar amount you'll be asked to pay each month.
We've done the heavy lifting for you and broken down the average rate for Parker so that you can get a more accurate idea of what your policy will cost you. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The more time you have behind the wheel, the more experienced of a driver you should be. When it comes to car insurance bills, that experience pays off. According to the table above, you can see that 18-24-year-olds pay $56 more than someone who is at retirement age.
For every ten years older you get, you can expect to see a drop in your monthly premium. Once you hit retirement, however, you may see your rates creep back up in Parker.
Average Car Insurance Rates by Gender
Female drivers pay, on average, slightly less than their male counterparts. While male drivers actually pay slightly less than female drivers on their monthly auto coverage, the difference in Parker is only about $1 a month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary quite a lot. Those with clean records can expect to pay significantly less than those with infractions. In Parker, drivers with one accident on their record will experience rates around $89 a month. Likewise, drivers with one ticket will be looking at a rate of around $93 a month on average.
Accidents, tickets, and other driving infractions can really hurt your wallet. So, if cheap car insurance is something you're after, drive safely and keep a clean record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$59|
|15 Years or Older||$74|
If you look at the first table above, the cheapest vehicles to insure in Parker are usually SUVs, at $64 per month.
SUV owners will see rates of about $64, while truck and van owners typically pay around $82 per month.
The age of your vehicle also plays a role in your monthly payment. Generally, newer vehicles are going to cost the most to insure. However, once your car is about 5 years old, you may start to see your monthly premium drop back down. In Parker, the most expensive vehicles to insure are vehicles eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$79|
More often than not, car insurance is slightly cheaper for married policyholders. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Parker is no exception, with the difference totaling to around $16 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$126|
One other element taken into consideration is your housing status. If you rent your home or apartment, expect to pay around $6 a month more than if you own your own home in Parker. But if you live with your parents, your rates will be significantly higher.
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 Parker, CO
Recent trends in car insurance for Parker drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when selecting an auto insurance policy.
In Parker, the rates for car insurance had been increasing from 2017-2018, before leveling out in 2019. Insurance rates finished up in 2022, at $73 a month
How does Parker compare to neighboring areas?
Why are car insurance rates in Parker different from other areas?
Car insurance companies will take into account a variety of factors when figuring out how much to charge for a policy. While we already talked about the ones that affect your personal policy, others are based around where you park your car. These include things like:
- Local laws
- Area crime rates
- Road safety
- Off-street parking availability
- Amount of drivers in the area
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. With the knowledge 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 Parker?
In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.
Good news! Compare.com does all of that work for you. Enter your ZIP Code below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from dozens of car insurance companies that offer policies in Parker.
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Parker Insurance FAQs
What factors affect car insurance quotes in Parker?
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 address, driving record, credit score, and marital status.
Why is the cost of car insurance in Parker different from other neighboring cities?
Things like parking situations, crime rates, and local laws, 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 Parker?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Parker?
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. 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 Parker or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?
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