You’ve seen the captivating commercials from companies like Nationwide and Progressive guaranteeing the cheapest price. So you just need to pick the one with the catchiest commercial, right?
It’s just not that easy, however, as there are a whole slew of unknown aspects like if you have a tendency to get pulled over, how many years you have been driving, if you have a coverage lapse, and the level of liability coverage you want, that all influence how much you pay for auto insurance. This article goes into detail about the best ways to avoid high prices and educate you enough to have a good start to your coverage search.
One of the more important considerations that are used to help calculate the price you pay for insurance is where your car is garaged in Aurora. Larger areas tend to pay slightly more, whereas more rural areas tend to receive slightly lower rates.
The table below ranks the most expensive places in Colorado for used cars to purchase car insurance in. Aurora comes in at #4 with an annual premium of $1,375 for coverage, which is about $115 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,397 |
| 2 | Denver | $1,383 |
| 3 | Lakewood | $1,378 |
| 4 | Aurora | $1,375 |
| 5 | Commerce City | $1,368 |
| 6 | Northglenn | $1,342 |
| 7 | Ken Caryl | $1,326 |
| 8 | Security-Widefield | $1,304 |
| 9 | Arvada | $1,295 |
| 10 | Littleton | $1,293 |
| 11 | Colorado Springs | $1,290 |
| 12 | Brighton | $1,285 |
| 13 | Centennial | $1,278 |
| 14 | Thornton | $1,268 |
| 15 | Castle Rock | $1,248 |
| 16 | Westminster | $1,246 |
| 17 | Parker | $1,233 |
| 18 | Highlands Ranch | $1,229 |
| 19 | Broomfield | $1,203 |
| 20 | Longmont | $1,179 |
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Table data uses estimated as the specific Aurora residence address can alter prices considerably.
The make and model of vehicle on the policy is probably the largest consideration when comparison shopping for cheaper insurance for used cars. Vehicles with average performance, advanced safety features, or a positive history of liability claims will cost significantly less to insure than high performance models. The next list outlines coverage premiums for a handful of the cheapest automobiles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $1,491 |
| Ford Explorer Eddie Bauer 2WD | $1,523 |
| Ford Escape XLS 4WD | $1,536 |
| Chevrolet Equinox LS 2WD | $1,609 |
| Volkswagen Jetta S 4-Dr Sedan | $1,619 |
| Chevrolet Malibu Hybrid | $1,609 |
| GMC Sierra SLE Regular Cab 2WD | $1,616 |
| Hyundai Elantra SE Touring Station Wagon | $1,623 |
| Toyota Prius | $1,657 |
| Dodge Grand Caravan CV | $1,670 |
| Honda Odyssey EX-L W/Navigation | $1,696 |
| Chevrolet Impala LS | $1,733 |
| Ford F-350 XL Crew Cab Turbo Diesel 2WD | $1,788 |
| Toyota Tacoma Double Cab 4WD | $1,817 |
| Toyota RAV4 Limited 4WD | $1,822 |
| Honda Civic VP 4-Dr Sedan | $1,830 |
| Ford F-250 XL Super Cab 2WD | $1,846 |
| Toyota Camry Hybrid | $1,853 |
| Ford F-150 XLT Crew Cab 4WD | $1,857 |
| Ford Focus SES 4-Dr Sedan | $1,859 |
| Dodge Ram 3500 Mega Cab SLT 2WD | $1,875 |
| Nissan Rogue S AWD | $1,888 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,895 |
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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 multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Rate quotes do not factor in vehicle garaging location which can change auto insurance rates considerably.
Based upon the table data, models like the Honda CR-V, Ford Explorer, Ford Escape, Chevrolet Equinox, and Volkswagen Jetta are most likely going to be the most affordable vehicles to insure for pre-owned vehicles.
Tickets and at-fault accidents raise rates
The best way to maintain affordable auto insurance premiums in Colorado for pre-owned vehicles is to drive safely and avoid at-fault accidents and violations. The chart below illustrates how traffic citations and at-fault fender-benders influence insurance costs for different age groups of insureds. The premiums are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.
In the example above, the average cost of car insurance in Aurora per year with no accidents and a clean driving record is $1,910. Get two speeding tickets and the average cost swells to $2,634, an increase of $724 each year. Then throw in one accident along with the two speeding tickets and the annual cost of auto insurance for used cars increases to an average of $3,366. That’s an increase of $1,457, or $121 per month, just for being a little careless behind the wheel!
Does full coverage make sense?
Buying cheaper auto insurance is the goal of the majority of people, and one easy way to reduce the cost of insurance for used cars is to not buy comprehensive and collision coverage. The chart below shows the comparison of car insurance costs with and without physical damage coverage. The prices are based on no claims or driving violations, $100 deductibles, marital status is single, and no additional discounts are factored in.
Averaged out for all age groups, physical damage coverage on your policy costs $2,743 per year more than carrying just liability coverage. That amount may make you wonder when is the right time to remove full coverage. There is no set rule to delete physical damage insurance, 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 could be time to drop full coverage.
There are some scenarios where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
The example below demonstrates how choosing different deductibles can affect insurance prices when getting quotes for cheap insurance for used cars. The premiums are based on a married male driver, comp and collision included, and no discounts are taken into consideration.
As shown above, a 30-year-old driver could lower rates by $366 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $550 by using a $1,000 deductible. Young drivers, such as the Age 20 example, could possibly save $1,110 or even more by choosing larger deductibles on their policy.
When using a larger deductible, it will be necessary to have emergency funds available to be able to cover the extra out-of-pocket expense associated with higher deductibles.
Tips to find economical insurance for used cars
The list below summarizes a few money-saving ideas that can help Aurora drivers get cheap auto insurance.
- Serious violations like DUI or reckless driving can increase rates dramatically
- Raise deductibles
- Avoid accidents and claims
- Do not pay for full coverage on older vehicles
- Frequent claims will increase rates
- Compare rates and switch if you can find a better deal
The last idea is extremely significant, as we pointed out in this article. Car insurance prices in Aurora adjust frequently, so drivers shouldn’t be reluctant to buy from a new company if a cheaper price is available. Having a favorite company is fine, but we do not recommend it if that inflexibility results in costing you hundreds of dollars year after year. It only take a few minutes to shop around to find cheaper car insurance for used cars.