The words “cheap” and “insurance” really shouldn’t be used together, in particular when comparison shopping for the lowest insurance prices for teenagers. Because it’s so expensive, let’s introduce you to a few of the factors that have an impact on car insurance premiums, and come up with some ways to take a little off the next policy you buy.
One of the many criteria that are looked at to help calculate insurance cost is where your residence is. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive cheaper rates.
The illustration below sorts the most expensive places in Colorado for teenagers to buy an auto insurance policy in. Aurora makes the list at #2 with a yearly cost of $1,417 for the average insured, which is about $118 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Aurora | $1,417 |
| 3 | Denver | $1,397 |
| 4 | Commerce City | $1,368 |
| 5 | Northglenn | $1,342 |
| 6 | Colorado Springs | $1,329 |
| 7 | Lakewood | $1,324 |
| 8 | Ken Caryl | $1,313 |
| 9 | Security-Widefield | $1,291 |
| 10 | Thornton | $1,281 |
| 11 | Littleton | $1,267 |
| 12 | Centennial | $1,265 |
| 13 | Castle Rock | $1,261 |
| 14 | Arvada | $1,256 |
| 15 | Brighton | $1,247 |
| 16 | Westminster | $1,234 |
| 17 | Parker | $1,233 |
| 18 | Highlands Ranch | $1,229 |
| 19 | Broomfield | $1,215 |
| 20 | Grand Junction | $1,166 |
| Compare Prices Now Go | ||
Price information shown is comparative as vehicle location can alter rates considerably.
Finding budget insurance is tough enough, and determining which insurers offer the lowest-priced car insurance rates for teenagers takes even more shopping around. Each insurance company uses their own formula for determining prices, so we need to take a look at the car insurance companies that tend to be cheaper in Colorado.
It’s important to know that Aurora, CO car insurance rates are determined by lots of factors which can substantially change your annual premium. Improving your credit rating, adding a teenager to your policy, or getting a ticket for running a stop sign can trigger rate changes that can make some companies higher when they were quite affordable.
Best Auto Insurance Prices for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $987 |
| 3 | USAA | $999 |
| 4 | GEICO | $1,141 |
| 5 | Nationwide | $1,155 |
| 6 | Auto-Owners | $1,156 |
| 7 | Travelers | $1,183 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,362 |
| 11 | Amica | $1,381 |
| 12 | California Casualty | $1,444 |
| 13 | Allied | $1,497 |
| 14 | Colorado Farm Bureau | $1,576 |
| 15 | Farmers | $1,581 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,055 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,657 |
| Quote Your Rates Go | ||
The Hartford has some of the cheapest car insurance rates in Aurora at around $825 per year. This is $753 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also qualify as some of the cheaper Aurora, CO car insurance companies.
In the above example, if you are insured with GEICO and switched to Grange, you might realize a yearly savings of approximately $154. Colorado drivers with Nationwide might save as much as $168 a year, and Auto-Owners insureds might reduce prices by as much as $169 a year.
To find the cheapest rates for your vehicle, click here to get a free quote or quote prices from the following companies.
Understand that those estimates are averages for all drivers and vehicles in Colorado and do not factor in a specific vehicle garaging location for teenagers. So the car insurance company that fits your age and vehicle best may not even be in the list above. That emphasizes why you need to compare prices as often as possible using your own personal information and vehicle type.
Types of discounts on Aurora auto insurance rates
Insurance providers that offer cheap quotes for teenagers may have rate discounts that could reduce prices by as much as 35% if you meet the requirements. A list of car insurance companies and a partial list of their discounts are detailed below.
- 21st Century may offer discounts for theft prevention, student driver, driver training, anti-lock brakes, automatic seat belts, and homeowners.
- State Farm discounts include student away at school, accident-free, passive restraint, Steer Clear safe driver discount, good student, driver’s education, and Drive Safe & Save.
- AAA offers premium reductions for multi-car, education and occupation, good student, AAA membership discount, anti-theft, pay-in-full, and good driver.
- Liberty Mutual may have discounts that include teen driver discount, hybrid vehicle, newly retired, preferred payment discount, exclusive group savings, new move discount, and new vehicle discount.
- Progressive may include discounts for online quote discount, multi-vehicle, multi-policy, online signing, good student, and continuous coverage.
The information below compares premium costs with and without policy discounts. The rate quotes are based on a male driver, a clean driving record, no claims, Colorado state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, vehicle safety, continuous coverage, paperless filing, paid-in-full, and good student discounts applied. In this example, the average amount saved each year on car insurance for teenagers is 28% or $830.
The illustration below illustrates how choosing a deductible can impact insurance prices when getting quotes for cheap insurance for teenagers. Data assumes a single male driver, full coverage, and no discounts are applied.
The data above shows that a 30-year-old driver could pocket $438 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $658 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, could drop their prices as much as $1,304 every year just by choosing larger deductibles.
When choosing a higher deductible, it will now be necessary to have plenty of discretionary funds to enable you to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Chances are good that you’re overpaying for Aurora car insurance
Aurora car insurance rates are impacted by many factors which can significantly increase or decrease the price you pay for coverage. Simply getting older, moving across town, or getting a few speeding tickets can trigger rate changes resulting in some rates now being cheaper than others. And not only may your rating factors change, but car insurance companies change premium rates as often as every three months as an adjustment for underwriting gains or losses. Higher than normal claim frequency or severity can cause a rate increase, while less frequent claims can cause cheaper Aurora car insurance rates.
As an example, the chart below demonstrates which company has the cheapest car insurance in Aurora, CO for a 40-year-old male driver with no violations or accidents, and a good credit history. If we estimate rates based on his current situation, The Hartford offers the lowest car insurance rates in Aurora at $1,096 per year. This is $482 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also make the list of the top five cheapest Aurora, CO auto insurance companies.
The next chart shows rates after we give the driver from above an accident surcharge, a little lower credit rating, and a traffic ticket or two. Since each auto insurer has a proprietary method for determining rates in each state, comparing rates may result in a substantially altered list of affordable Aurora car insurance companies as shown below.
Travelers now has the lowest price on auto insurance in Aurora with State Farm, American Family, Grange, and Amica now being in the top five. This illustrates why consumers need to take the time to shop around with many companies to get cheap auto insurance quotes for teenagers.
Auto insurance prices are determined by many risk factors and change frequently, so the best company three years ago may now be wasting a lot of money.