The words “economical” and “insurance” really shouldn’t be used together, specifically when you are searching for the lowest insurance rates for safe drivers. To save some money, let’s teach you some things that have a considerable impact on auto insurance premiums, and find out if you can shave a little off the next policy you buy.
Finding good, reasonably-priced car insurance is tough enough, and figuring out which company quotes the best car insurance rates for safe drivers involves a bit more work. Each company has a proprietary formula to set policy rates, so first we will examine the car insurance companies that tend to have lower prices in Aurora.
Keep in mind that Aurora car insurance rates are impacted by many factors that will increase or decrease the cost of coverage. This is why it is important to do a thorough rate comparison when trying to find the most economical car insurance quotes for safe drivers. Insurance rates are influenced by many things and can increase or decrease at any time, so the most affordable company six months ago may now cost much more than other companies.
Compare Cheap Insurance Quotes for Safe Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $978 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,187 |
| 6 | Auto-Owners | $1,204 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,336 |
| 11 | Amica | $1,353 |
| 12 | Allied | $1,439 |
| 13 | California Casualty | $1,502 |
| 14 | Colorado Farm Bureau | $1,576 |
| 15 | Farmers | $1,581 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,076 |
| 18 | Encompass | $2,231 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,738 |
| Find Your Rate Go | ||
The Hartford normally has some of the best car insurance rates in Aurora at around $825 each year. Grange, USAA, Nationwide, and GEICO also qualify as some of the best Aurora, CO auto insurance companies.
In this example, if you currently have a policy with Nationwide and switched to Grange, you might realize a yearly price reduction of approximately $131. Colorado drivers with GEICO may save as much as $209 a year, and Auto-Owners policyholders might lower prices by up to $226 a year.
Be aware that those estimates are averaged for all drivers and vehicles in Colorado and and are not calculated with a specific vehicle garaging location for safe drivers. So the car insurance company that can offer you the best rate may not even be in the top 21 companies shown above. That illustrates why you need to get rate quotes from many companies using your own driver information and specific vehicle type.
For good drivers, one of the largest things that are looked at to help calculate car insurance rates is where you choose to live. Cities with more crime and/or more people tend to have higher rates, whereas areas with less congestion tend to receive cheaper rates.
The next table shows the priciest cities in Colorado for safe drivers to purchase car insurance in. Aurora is listed at #4 having an annual price of $1,361 for coverage, which is approximately $113 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Denver | $1,397 |
| 3 | Lakewood | $1,365 |
| 4 | Aurora | $1,361 |
| 5 | Security-Widefield | $1,330 |
| 6 | Northglenn | $1,329 |
| 7 | Commerce City | $1,328 |
| 8 | Colorado Springs | $1,316 |
| 9 | Ken Caryl | $1,287 |
| 10 | Brighton | $1,285 |
| 11 | Arvada | $1,269 |
| 12 | Thornton | $1,268 |
| 13 | Littleton | $1,267 |
| 14 | Centennial | $1,265 |
| 15 | Castle Rock | $1,261 |
| 16 | Parker | $1,257 |
| 17 | Westminster | $1,234 |
| 18 | Highlands Ranch | $1,229 |
| 19 | Boulder | $1,195 |
| 20 | Broomfield | $1,167 |
| Compare Prices Now Go | ||
Premium costs are approximated as the specific area where the vehicle is garaged can revise prices substantially.
The vehicle model you are trying to insure is a large factor when comparison shopping for affordable insurance for safe drivers. Vehicles with higher performance characteristics, a lack of advanced safety features, or high incidents of liability claims will cost significantly more to insure than safer models. The table below outlines auto insurance premiums for a number of the most budget-friendly vehicles to insure in Colorado.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Toyota Prius | $1,394 |
| Ford Escape XLS 4WD | $1,417 |
| Honda CR-V EX 4WD | $1,455 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,475 |
| Chevrolet Impala LT | $1,485 |
| Toyota RAV4 Sport 2WD | $1,495 |
| Chevrolet Malibu LT | $1,513 |
| Hyundai Elantra SE Touring Station Wagon | $1,533 |
| Honda Civic VP 4-Dr Sedan | $1,535 |
| Ford Explorer XLT AWD | $1,540 |
| Toyota Camry SE | $1,566 |
| Ford Fusion SEL 4-Dr Sedan | $1,593 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,600 |
| Find Cheaper Rates Go | |
Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Premium costs do not factor in your specific Aurora, CO location which can increase or decrease prices significantly.
Looking at the numbers, we can expect makes and models like the Toyota Prius, Ford Escape, Honda CR-V, and Volkswagen Jetta will definitely be the less-costly vehicles to insure for good drivers.
Full coverage rates compared to liability-only
Lowering the price of car insurance is important to the majority of people, and an easy way to reduce the cost of insurance for safe drivers is to not buy comprehensive and collision coverage. The example below shows the comparison of annual premium costs with and without physical damage coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, single marital status, and no discounts are applied to the premium.
If we average the cost for ages 20 through 70, physical damage insurance costs an extra $1,656 per year over liability only. At some point, almost every driver questions if buying full coverage is worth the money. There is no clear-cut rule to drop physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
For example, let’s assume your vehicle’s book value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $10,500 after the policy deductible has been paid. If you are paying more than $1,050 annually for full coverage, then it may be the right time to buy liability only.
There are some circumstances where buying only liability insurance is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Discounts on Aurora auto insurance
Insurers that provide policies for safe drivers may also provide rate discounts that could lower prices by as much as 30% if you can meet the requirements. A few of the larger companies and a summarized list of policyholder discounts are:
- American Family discounts include defensive driver, good driver, good student, TimeAway discount, and air bags.
- State Farm offers discounts for good driver, Drive Safe & Save, defensive driving training, anti-theft, passive restraint, and multiple autos.
- 21st Century policyholders can earn discounts including student driver, homeowners, anti-lock brakes, defensive driver, driver training, air bags, and 55 and older.
- Travelers includes discounts for home ownership, continuous insurance, payment discounts, new car, good student, and multi-policy.
- GEICO offers premium reductions for federal employee, driver training, defensive driver, daytime running lights, multi-vehicle, and membership and employees.
The diagram below compares insurance prices with and without discounts applied to the policy premium. The data is based on a male driver, no claims or violations, Colorado state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with passive restraint, homeowner, defensive driving course, safe-driver, claim-free, and anti-theft discounts applied. When taking advantage of discounts, theamount saved on car insurance for safe drivers is 28% or $557.
Why you should be shopping around
Aurora, CO car insurance rates are determined by lots of factors that can increase the price you have to pay. Improving your credit score, buying higher coverage limits, or having a fender bender can trigger changes in premium that can now make some companies cheaper in comparison to the competition.
In addition, car insurance companies modify pricing as often as every quarter to adjust for gains or losses. Significantly higher claims may result in rate increases, while a profitable period may result in lower-priced Aurora car insurance rates.
To help illustrate this point, the bar chart below compares the cheapest car insurance in Aurora, CO for a 35-year-old male driver with no accidents or violations, and a good credit history. Based on his current risk profile, The Hartford may have the cheapest car insurance rates in Aurora at $1,084 annually. This is $494 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the cheapest Aurora, CO auto insurance companies.
Let’s now give the driver from the first example some claims, a little lower credit rating, and an imperfect driving record. Since every car insurance company has their own guidelines to set their prices, comparing insurance quotes could result in a different list of companies as shown below.
State Farm now has the cheapest price in Aurora with Travelers, Grange, American Family, and Progressive also being competitive. This example illustrates why it is critical to perform an extensive rate comparison when trying to get affordable car insurance rates for safe drivers. Auto insurance prices are made up of many things and can increase or decrease at any time, so the most economical company the last time you shopped around may now be an over-priced policy.