The words “low-cost” and “auto insurance” really don’t belong together, specifically when searching for the best car insurance rates for drivers over age 60. To help control this cost, let’s get started by showing you a few of the factors that have an effect on insurance premiums, and see how we can help you lower the cost of your next policy.
Establishing which company quotes the most affordable insurance rates for drivers over age 60 will require more time in order to find the most economical policy. Every insurance provider has their own process to determine rates, so let’s rank the most budget-friendly insurance companies in Aurora.
Find the Cheapest Car Insurance for Age 60+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $859 |
| 2 | Grange | $987 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,155 |
| 5 | Auto-Owners | $1,156 |
| 6 | Travelers | $1,171 |
| 7 | GEICO | $1,187 |
| 8 | State Farm | $1,246 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,394 |
| 12 | Allied | $1,453 |
| 13 | California Casualty | $1,488 |
| 14 | Farmers | $1,581 |
| 15 | Colorado Farm Bureau | $1,592 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,231 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,657 |
| View More Rates Go | ||
The Hartford offers some of the cheapest car insurance rates in Aurora at around $859 annually. Grange, USAA, Nationwide, and Auto-Owners also qualify as some of the cheaper Aurora, CO auto insurance companies.
As illustrated above, if you have coverage with Nationwide and switched to The Hartford, you might realize a yearly price reduction of in the vicinity of $296. Insureds with Auto-Owners could save as much as $297 a year, and Travelers insureds might lower prices by up to $312 a year.
It’s important to note that these rates are averages for all drivers and vehicles in Colorado and are not factoring in an exact zip code location for drivers over age 60. So the insurer that can offer you the best rate may not even be in the top 21 companies shown above. That’s why you need to get rate quotes from many companies using your own driver and vehicle profiles.
For older drivers, one of the big considerations that are looked at to help calculate the amount you pay each year for auto insurance is where your car is garaged. Larger areas are more likely to pay higher prices, whereas areas with lower crime rates and fewer weather claims profit from lower rates.
The illustration below shows the highest-priced places in Colorado for drivers over age 60 to buy auto insurance in. Aurora makes the list at #2 with the yearly price of $1,417 for the average policy, which is approximately $118 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Denver | $1,439 |
| 2 | Aurora | $1,417 |
| 3 | Pueblo | $1,397 |
| 4 | Lakewood | $1,378 |
| 5 | Commerce City | $1,368 |
| 6 | Security-Widefield | $1,343 |
| 7 | Northglenn | $1,342 |
| 8 | Thornton | $1,320 |
| 9 | Ken Caryl | $1,313 |
| 10 | Arvada | $1,295 |
| 11 | Littleton | $1,293 |
| 12 | Westminster | $1,284 |
| 13 | Colorado Springs | $1,277 |
| 14 | Highlands Ranch | $1,267 |
| 15 | Centennial | $1,265 |
| 16 | Brighton | $1,247 |
| 17 | Castle Rock | $1,224 |
| 18 | Parker | $1,220 |
| 19 | Broomfield | $1,215 |
| 20 | Boulder | $1,171 |
| 21 | Greeley | $1,144 |
| 22 | Longmont | $1,133 |
| 23 | Grand Junction | $1,120 |
| 24 | Loveland | $1,107 |
| 25 | Fort Collins | $1,067 |
| Quote Best Rates Go | ||
Rates are approximated as specific location information can influence auto insurance rates considerably.
Liability-only versus full coverage
Reducing the cost of insurance is the goal of most drivers, and one of the quickest ways to pay less for insurance for drivers over age 60 is to not pay for full coverage. The example below illustrates the comparison of yearly insurance costs with liability coverage only compared to full coverage. The premiums assume no claims or driving citations, $250 deductibles, drivers are single, and no discounts are applied.
As an average, comprehensive and collision coverage on your policy costs an additional $1,845 per year more than buying just liability insurance. That is a significant amount which raises the question when is it a good idea to stop buying full coverage. There is no written rule for excluding full coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let’s say your vehicle’s settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after paying your deductible. If premium cost is more than $600 a year for physical damage coverage, then you might consider buying liability only.
There are some circumstances where dropping full coverage is not advised. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should keep full coverage in place.
The information below demonstrates how deductibles can impact insurance premiums when researching cheap insurance for drivers over age 60. The information is based on a married female driver, comprehensive and collision coverage, and no discounts are applied.
The data above shows that a 50-year-old driver could save $324 a year by increasing from a $100 deductible to a $500 deductible, or save $488 by changing to a $1,000 deductible. Even younger drivers, such as the Age 20 example, can save as much as $802 annually by choosing larger deductibles on their policy.
When raising deductibles, it will be required to have enough in a savings account to allow you to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Picking the highest-rated auto insurance company can be challenging considering how many companies there are in Aurora. The information listed below may help you decide which auto insurance companies to look at when shopping around.
The ratings below are only made up of the largest auto insurers in America, so companies that have a smaller presence are not factored into the list. To compare prices from these top-rated insurers and more, click here.
Top 10 Major Auto Insurers in Aurora Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- Allstate – 88%
- 21st Century – 88%
- The General – 88%
The Aurora, CO, insurance agents below can most likely help you determine which car insurance policy is best, since many consumers aren’t sure which coverage to buy and prefer to have professional advice when comparing insurance rates for drivers over age 60. It can be challenging to find the cheapest auto insurance company, so getting advice from a licensed agent can bring peace of mind knowing you have suitable coverage if you have an accident. To find an auto insurance agency nearest to you, click the button link following the list or click here to compare price quotes now.
American Family Insurance – Richard Ahrenkiel
2260 S Xanadu Way Ste 257 – Aurora, CO 80014 – (303) 750-6508
GEICO Insurance Agent
1140 S Abilene St – Aurora, CO 80012 – (303) 798-3939
American Family Insurance – Patricia Davis
1627 S Havana St e – Aurora, CO 80012 – (303) 360-9831
View more Aurora, CO insurance agents
How to find the cheapest car insurance for drivers over age 60
It is possible to find better rates, and here are a few thrifty ideas that can help Colorado drivers buy cheaper car insurance.
- Buying home and auto together can help save money
- Discounts for being claim-free can be substantial
- Good credit can mean cheaper rates
- Increase physical damage deductibles
- Don’t waste money on full coverage for older vehicles
- Drive safe vehicles
- Compare price quotes at least once a year
The last tip is notably important, as was discussed in this article. Auto insurance rates adjust often, so you should be ready to switch companies if a better deal can be had.
Staying with the same car insurance company is fine, but it’s not a great idea if it’s costing you big bucks every year. Take a few minutes and compare rates and find cheaper auto insurance for drivers over age 60 in Aurora.