The type of vehicle you are buying coverage for is one of the largest considerations that determines whether or not you can buy the most affordable insurance for a company car. Vehicles with high performance, poor passenger safety features, or an increased likelihood of liability claims will cost much more to insure than more modest models.
The information below outlines coverage prices for a selection of the more affordable vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,447 |
| Ford Escape XLS 2WD | $1,454 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,572 |
| Toyota Prius | $1,611 |
| Ford F-150 STX Super Cab 4WD | $1,613 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,641 |
| Toyota Camry LE | $1,672 |
| Chevrolet Equinox LT AWD | $1,680 |
| Ford Edge Limited 2WD | $1,682 |
| Chevrolet Silverado 3500HD LTZ Crew Cab 2WD | $1,698 |
| Dodge Grand Caravan Crew | $1,705 |
| Ford Explorer Limited AWD | $1,714 |
| Ford Focus SES 2-Dr Coupe | $1,721 |
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Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Information does not factor in specific zip code location which can increase or decrease price quotes significantly.
Looking at the rates, cars like the Honda CR-V, Ford Escape, and Volkswagen Jetta are likely to be the less-costly vehicles to insure for your employer’s vehicle.
For your employer’s vehicle, one of the big things that determine car insurance rates is where you keep your vehicle. Cities with larger populations or higher claim trends tend to pay more, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The next table shows the most expensive places in Colorado for a company car to purchase a policy in. Aurora shows up at #2 with the annual price of $1,403 for the average policy, which is approximately $117 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Aurora | $1,403 |
| 3 | Denver | $1,397 |
| 4 | Lakewood | $1,378 |
| 5 | Commerce City | $1,354 |
| 6 | Colorado Springs | $1,329 |
| 7 | Ken Caryl | $1,313 |
| 8 | Arvada | $1,308 |
| 9 | Littleton | $1,306 |
| 10 | Security-Widefield | $1,304 |
| 11 | Northglenn | $1,303 |
| 12 | Highlands Ranch | $1,279 |
| 13 | Centennial | $1,278 |
| 14 | Brighton | $1,273 |
| 15 | Parker | $1,270 |
| 16 | Thornton | $1,268 |
| 17 | Castle Rock | $1,248 |
| 18 | Westminster | $1,246 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,159 |
| 21 | Grand Junction | $1,154 |
| 22 | Longmont | $1,133 |
| 23 | Greeley | $1,110 |
| 24 | Loveland | $1,074 |
| 25 | Fort Collins | $1,056 |
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Price information shown is approximated as the specific zip code location can raise or lower rates considerably.
Finding good, budget insurance is challenging, and deciding which companies have the cheapest auto insurance rates for a company car takes a bit more work. Each insurer has their own guidelines to determine rates, so to begin we’ll rank the auto insurance companies with the overall cheapest rates in Aurora.
It’s a good idea to be aware that Colorado auto insurance rates are based on many factors that can increase the cost of coverage. This is why it is important to take the time to shop around to find the most budget-friendly auto insurance quotes for a company car. Prices consist of many things and can increase or decrease at any time, so the best price a year ago may now be one of the more expensive options.
Best Insurance Companies in Colorado
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $949 |
| 3 | USAA | $1,039 |
| 4 | GEICO | $1,141 |
| 5 | Nationwide | $1,155 |
| 6 | Travelers | $1,171 |
| 7 | Auto-Owners | $1,204 |
| 8 | State Farm | $1,209 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,381 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,497 |
| 14 | Farmers | $1,613 |
| 15 | Colorado Farm Bureau | $1,640 |
| 16 | MetLife | $1,866 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,231 |
| 19 | Safeco | $2,522 |
| 20 | Titan | $2,738 |
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The Hartford normally has some of the lowest car insurance rates in Aurora at around $850 each year. This is $728 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also rank well as some of the cheapest Aurora, CO insurance companies.
As the rates illustrate above, if you currently have coverage with Grange and switched to The Hartford, you could earn savings of approximately $99. Customers with USAA might save as much as $189 a year, and GEICO policyholders might reduce prices by as much as $291 a year.
To compare your rates to other Colorado insurance companies, click here to get quotes or visit any of the companies below.
Remember that these policy prices are averaged across all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for a company car. So the insurer that fits you best may not even be in the list above. That’s why you need to get auto insurance quotes using your own personal information and vehicle type.
The illustration below shows how choosing a deductible can influence insurance prices when trying to find cheap insurance for a company car. The prices are based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.
As shown above, a 50-year-old driver could lower rates by $240 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $362 by using a $1,000 deductible. Younger drivers, like the 20-year-old example, could save as much as $594 every year by selecting a higher deductible. If you do raise deductibles, it will be necessary to have enough funds in savings to be able to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Insurance rate increases from tickets or accidents
The ideal way to enjoy cheap auto insurance prices in Aurora for your employer’s vehicle is to be an attentive driver and avoid traffic citations and accidents. The chart below demonstrates how speeding tickets and at-fault accidents can drive up insurance rates for each age group. The information is based on a single male driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
The data above shows the average cost of an auto insurance policy per year with no accidents or violations is $1,476. Factor in one speeding ticket and the average cost swells to $1,665, an increase of $189 each year. Then add in one accident along with the one speeding ticket and the yearly cost of auto insurance for a company car jumps again to an average of $2,188. That’s an increase of $712, or $59 per month, just for not driving responsibly!
Why you should be shopping around
Colorado auto insurance rates are impacted by many factors that will increase or decrease the policy price. Turning one year older, buying a different vehicle, or getting caught speeding can trigger changes in premium that may make certain companies affordable when they were higher priced. Additionally, insurance companies change the rates they charge in Colorado every year as an adjustment for underwriting gains or losses. Heavier than normal losses can result in increased policy costs, while profitable underwriting may produce more affordable Aurora car insurance rates.
The chart below compares the cheapest car insurance in Aurora, CO for a 30-year-old male driver with a good driving record, no prior claims, and good financial standing. If we estimate rates based on his current rating profile, The Hartford has the cheapest car insurance rates in Aurora at $1,100 per year. This is $478 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are the remaining cheapest Aurora, CO auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an accident claim, a lower credit score, and a traffic ticket or two. Since every car insurance company uses their own method to set policy rates, comparing insurance quotes will most likely result in a substantially altered list of the cheapest companies as shown below.
Travelers now has the cheapest price in Aurora with State Farm, American Family, Progressive, and Grange now being in the top five. This illustrates why it is so important to perform a complete rate comparison when trying to find the most affordable insurance rates for a company car. Insurance rates consist of many things and change substantially, so the cheapest rate the last time you compared rates may now be one of the higher cost companies.