The type of vehicle requiring insurance is probably the biggest factor when shopping for the cheapest insurance for retired military. Vehicles with more horsepower, poor passenger safety features, or high incidents of liability claims will cost quite a bit more to insure than more modest models. The next list presents insurance prices for a handful of the most cost-effective automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Edge SE 2WD | $1,415 |
| Honda Odyssey LX | $1,420 |
| Toyota Prius | $1,428 |
| Ford F-150 STX Regular Cab 4WD | $1,443 |
| Dodge Grand Caravan SE | $1,451 |
| Ford Explorer XLT AWD | $1,443 |
| Ford Escape XLS 2WD | $1,477 |
| Toyota RAV4 Sport 2WD | $1,523 |
| Chevrolet Equinox LT 2WD | $1,533 |
| Dodge Ram Quad Cab ST 2WD | $1,554 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,601 |
| Honda CR-V EX 4WD | $1,619 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,634 |
| Chevrolet Malibu LTZ | $1,641 |
| Hyundai Sonata SE 4-Dr Sedan | $1,714 |
| Honda Accord LX-S 2-Dr Coupe | $1,719 |
| Chevrolet Impala LS | $1,717 |
| Ford Fusion Sport AWD 4-Dr Sedan | $1,742 |
| Chevrolet Silverado Crew Cab Hybrid 4WD | $1,749 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,745 |
| Dodge Ram 2500 Crew Cab Laramie 4WD | $1,773 |
| Toyota Tacoma Double Cab 4WD | $1,781 |
| Toyota Corolla XLE | $1,843 |
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Table data does not factor in Aurora, CO location which can revise insurance rates greatly.
Based upon the table data, we can expect makes and models like the Ford Edge, Honda Odyssey, and Toyota Prius are likely to be a few of the most budget-friendly vehicles to insure for veterans.
For veterans, one of the largest components that are looked at to determine the amount you pay for auto insurance is your zip code. Areas with more people or more claims likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper auto insurance prices.
The next table shows the highest-priced areas in Colorado for retired military to purchase auto insurance in. Aurora makes the list at #3 costing $1,375 for the average insurance policy, which is approximately $115 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Denver | $1,397 |
| 3 | Aurora | $1,375 |
| 4 | Northglenn | $1,329 |
| 5 | Colorado Springs | $1,329 |
| 6 | Commerce City | $1,328 |
| 7 | Lakewood | $1,324 |
| 8 | Thornton | $1,307 |
| 9 | Arvada | $1,295 |
| 10 | Littleton | $1,293 |
| 11 | Security-Widefield | $1,291 |
| 12 | Ken Caryl | $1,287 |
| 13 | Westminster | $1,284 |
| 14 | Brighton | $1,273 |
| 15 | Parker | $1,270 |
| 16 | Centennial | $1,265 |
| 17 | Castle Rock | $1,261 |
| 18 | Highlands Ranch | $1,241 |
| 19 | Boulder | $1,195 |
| 20 | Broomfield | $1,179 |
| 21 | Greeley | $1,156 |
| 22 | Longmont | $1,144 |
| 23 | Grand Junction | $1,132 |
| 24 | Fort Collins | $1,067 |
| 25 | Loveland | $1,063 |
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Rate quotes are approximated as the specific Aurora residence address can revise price quotes greatly.
Deciphering which companies offer the best insurance rates for retired military will require more time than just getting one or two price quotes. Each auto insurance company has their own process for determining rates in each state, so let’s look at the rankings for the insurance companies with the overall cheapest rates in Aurora, CO.
Best Auto Insurance Prices for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $987 |
| 3 | USAA | $1,039 |
| 4 | GEICO | $1,141 |
| 5 | Nationwide | $1,143 |
| 6 | Auto-Owners | $1,192 |
| 7 | State Farm | $1,209 |
| 8 | Travelers | $1,219 |
| 9 | American Family | $1,262 |
| 10 | Amica | $1,340 |
| 11 | Progressive | $1,362 |
| 12 | Allied | $1,439 |
| 13 | California Casualty | $1,488 |
| 14 | Colorado Farm Bureau | $1,592 |
| 15 | Farmers | $1,629 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,522 |
| 20 | Titan | $2,630 |
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The Hartford quotes some of the best car insurance rates in Aurora at around $834 per year. Grange, USAA, GEICO, and Nationwide also make the cut as some of the most economical Aurora, CO insurance companies.
As shown in the rates above, if you buy coverage from Nationwide and switched to Grange, you could realize savings of in the vicinity of $156. Policyholders with Auto-Owners might save as much as $205 a year, and State Farm insureds might lower prices by up to $222 a year.
If you would like to find cheaper car insurance rates, click here to get a free quote or click through to the companies below.
Bear in mind that those estimates are averaged for all drivers and vehicles and do not factor in an exact vehicle garaging location for retired military. So the car insurance company that fits your needs best may not even be in the top 21 companies shown above. That is why you need to compare as many prices as possible using your own driver data and vehicle information.
The diagram below shows how different deductible levels can influence yearly insurance costs when searching for cheap insurance for retired military. The premiums assume a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
The data above shows that a 50-year-old driver could save $292 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $444 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, can cut up to $978 or more by using higher deductibles when buying full coverage.
If you do decide to increase your deductibles, it is essential to have spare funds to allow you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Do you need full coverage?
Paying a lower price for insurance is probably important to most vehicle owners, and a good way to buy cheap insurance for retired military is to not insure for full coverage. The illustration below illustrates the comparison of annual premium costs when comparing full coverage to liability only. The premium estimates are based on no claims or violations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
As an overall average, comp and collision coverage costs an extra $1,967 per year more than just buying liability only. At some point, about every driver wonders when is the right time to remove full coverage. There is no set rule to exclude physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
There are a few situations where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should maintain full coverage.
The importance of shopping around
Colorado insurance rates are influenced by many factors that can increase the policy price. Improving your credit score, filing a claim, or getting a reckless driving citation may prompt premium changes that can now make some companies cheaper than competitors. In addition to those changes, auto insurance companies change rates as needed in order to be able to pay unexpected claims. Significantly higher claims may result in a rate increase, while less frequent claims can produce lower-cost Aurora car insurance rates.
To illustrate this example, the chart below shows the companies that have the cheapest car insurance in Aurora, CO for a 35-year-old female driver with no accidents or violations, and good financial standing. If we estimate rates based on her personal profile, The Hartford may offer the best car insurance rates in Aurora at $1,074 a year. This is $504 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are the remainder of the cheapest Aurora, CO auto insurance companies.
In this next rate comparison, we will give the driver from the above example an at-fault accident, a lower credit rating, and a few blemishes on her driving record. Because every insurance company has their own guidelines to set policy rates, comparing rates most likely will result in a significantly different list of companies as shown below.
Travelers now has the best price on car insurance in Aurora, CO with State Farm, American Family, Amica, and USAA also having competitive pricing. This shows why it is critical to do a thorough rate comparison to find the best insurance quotes for retired military.
Rates are influenced by many different factors and can change substantially, so the most affordable company six months ago may now not even be in the top five.
If you aren’t clear which coverage you need and would like to have some advice when shopping around for cheaper insurance for retired military, the agents listed below can probably provide answers to your questions and help you determine which insurance coverage you need. To locate an Aurora car insurance agency using an interactive map, click the button link following the list.
- L.A. Insurance Agency
9601 E Colfax Ave – Aurora, CO 80010 – (303) 577-2400 - American Family Insurance – Rick Laikola Agency Inc.
3102 S Parker Rd Ste A16 – Aurora, CO 80014 – (303) 696-2666 - Allstate Insurance: Mario J Morales
14241 E 4th Ave #305 – Aurora, CO 80011 – (303) 366-6800 - All Drivers Insurance
12142 E Mississippi Ave – Aurora, CO 80012 – (303) 695-1000 - American Family Insurance – Richard Ahrenkiel
2260 S Xanadu Way Ste 257 – Aurora, CO 80014 – (303) 750-6508