One of the more important considerations that aid in calculating the price you pay for insurance is the neighborhood you call home. Areas with more people or higher crime rates likely pay more, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.
The following table sorts the highest-priced places in Colorado for electric cars to buy car insurance in. Aurora is ranked #3 with an annual cost of $1,375 for car insurance, which is approximately $115 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Denver | $1,439 |
| 2 | Pueblo | $1,412 |
| 3 | Aurora | $1,375 |
| 4 | Lakewood | $1,337 |
| 5 | Colorado Springs | $1,329 |
| 6 | Northglenn | $1,329 |
| 7 | Ken Caryl | $1,326 |
| 8 | Commerce City | $1,314 |
| 9 | Security-Widefield | $1,304 |
| 10 | Littleton | $1,293 |
| 11 | Thornton | $1,281 |
| 12 | Highlands Ranch | $1,279 |
| 13 | Centennial | $1,278 |
| 14 | Parker | $1,270 |
| 15 | Castle Rock | $1,261 |
| 16 | Arvada | $1,256 |
| 17 | Brighton | $1,247 |
| 18 | Westminster | $1,246 |
| 19 | Boulder | $1,207 |
| 20 | Longmont | $1,168 |
| 21 | Broomfield | $1,167 |
| 22 | Grand Junction | $1,154 |
| 23 | Greeley | $1,110 |
| 24 | Loveland | $1,063 |
| 25 | Fort Collins | $1,056 |
| Find Cheaper Insurance Go | ||
Annual rates are comparative as the garaging address in Aurora can change prices substantially.
Finding out which company offers the lowest-priced auto insurance rates for electric cars involves a little more effort in order to find a policy that fits your budget. Every insurance provider used slightly different criteria for determining rates, so let’s rank the most competitive auto insurance companies in Aurora, CO.
Cheap Insurance Rates for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $949 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,143 |
| 5 | GEICO | $1,152 |
| 6 | Travelers | $1,183 |
| 7 | Auto-Owners | $1,204 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,314 |
| 10 | Amica | $1,353 |
| 11 | Progressive | $1,376 |
| 12 | Allied | $1,439 |
| 13 | California Casualty | $1,444 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,576 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,630 |
| Find Your Rate Go | ||
The Hartford may have some of the best car insurance rates in Aurora at around $834 annually. This is $744 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are also some of the lowest-priced Aurora, CO car insurance companies.
As shown in the table above, if you currently buy coverage from USAA and switched to The Hartford, you may see an annual premium reduction of about $195. Drivers with Nationwide might save as much as $309 a year, and GEICO customers might cut rates by $318 a year.
To get a quick, customized rate comparison, click here to start your free quote or click through to the companies below.
It’s important to note that these premium estimates are averages for all types of drivers and the different vehicles they drive and do not factor in an exact vehicle garaging location for electric cars. So the car insurance company that is best for you may not even be in the top 21 companies in the list above. That points out the importance of why you need to get rate quotes using your own driver and vehicle profiles.
The type of vehicle to be insured is probably the biggest factor in finding the best insurance for electric cars. Vehicles with higher performance characteristics, poor safety features, or an increased likelihood of liability claims will cost more to insure than more economical and safe models. The information below illustrates insurance rates for a selection of the most economical automobiles to insure in Colorado.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,533 |
| Ford Edge SE 2WD | $1,536 |
| Ford Explorer XLT 2WD | $1,565 |
| Honda CR-V LX 2WD | $1,581 |
| Hyundai Elantra GLS Touring Station Wagon | $1,589 |
| Chevrolet Impala LS | $1,626 |
| Chevrolet Malibu Hybrid | $1,656 |
| Ford F-150 SVT Raptor Super Cab 4WD | $1,688 |
| Dodge Grand Caravan SXT | $1,697 |
| Toyota Prius | $1,749 |
| Nissan Rogue S 2WD | $1,773 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,783 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,776 |
| Toyota Tacoma 4WD | $1,778 |
| Dodge Ram Quad Cab TRX4 Off Road 2WD | $1,805 |
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Rates do not factor in specific location which can lower or raise premium rates considerably.
Based upon the table data, you can figure that models like the Ford Escape, Ford Edge, Ford Explorer, and Honda CR-V are some of the more affordable vehicles to insure for eco-friendly vehicles.
Discounts on Aurora auto insurance rates
Car insurance companies that provide coverage for electric cars may additionally offer price discounts that could potentially reduce rates by as much as 25% or more if you qualify. A list of companies and some of their more popular discounts are:
- GEICO policyholders can earn discounts including emergency military deployment, daytime running lights, federal employee, good student, and driver training.
- Travelers may offer discounts for home ownership, new car, student away at school, multi-policy, early quote, driver training, and continuous insurance.
- Farm Bureau may have discounts that include multi-policy, good student, multi-vehicle, youthful driver, and renewal discount.
- Liberty Mutual includes discounts for newly retired, safety features, new move discount, hybrid vehicle, good student, and multi-policy.
- American Family discounts include TimeAway discount, air bags, early bird, bundled insurance, multi-vehicle, and good driver.
- Progressive offers discounts including multi-policy, multi-vehicle, good student, continuous coverage, online signing, and homeowner.
The illustration below illustrates the comparison of car insurance costs with and without discounts applied to the rates. Data assumes a female driver, no accidents, no driving violations, Colorado state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple vehicle, claim-free, homeowner, vehicle safety, marriage, and passive restraint discounts applied. In this example, the average savings per year on auto insurance for electric cars is 28% or $528.
Difference between full coverage and liability only rates
Reducing premiums for auto insurance is probably important to most drivers, and one easy way to find cheap insurance for electric cars is to only buy liability insurance. The information below illustrates the comparison of car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no accidents, no driving violations, $250 deductibles, single marital status, and no discounts are applied.
If averaged for all ages, full coverage on your policy costs $2,040 per year more than just insuring for liability. At some point, every insured wonders if buying full coverage is worth the expense. There is no clear-cut formula to stop buying full coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than about 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s say your vehicle’s settlement value is $6,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,500 after the policy deductible has been paid. If you are paying over $550 annually for full coverage, then it might be time to buy liability only.
There are some situations where dropping full coverage is not advised. If you haven’t paid off your loan, you have to carry full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not eliminate full coverage.
The information below highlights how deductible choice can affect insurance costs when getting quotes for cheap insurance for electric cars. The prices are based on a married female driver, comprehensive and collision coverage, and no additional discounts are factored in.
The data above shows that a 30-year-old driver could save $376 a year by switching from a $100 deductible up to a $500 deductible, or save $566 by changing to a $1,000 deductible. Even younger insureds, such as the Age 20 example, can save $802 each year by using a higher deductible. When raising deductibles, it will be necessary to have enough spare savings to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.