The words “affordable” and “insurance” probably shouldn’t be used together, specifically when trying to find the cheapest car insurance for high risk drivers. To help control this cost, let’s start the ball rolling by going over some of the factors that influence auto insurance prices, and figure out some ways to slash the price of the next policy you buy.
One of the many criteria that aid in calculating the price you pay for insurance is where your residence is. Areas with more people or higher crime rates tend to pay slightly more, whereas areas with less people or fewer weather incidents have the luxury of cheap car insurance rates.
The following table lists the most expensive areas in Colorado for high risk drivers in which to buy car insurance. Aurora comes in at #3 with the yearly price of $1,375 for car insurance, which is approximately $115 per month.
|Premium Per Year
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Table data uses approximated as the specific garaging location can change premiums substantially.
The vehicle on the policy is probably the biggest factor when shopping for the most economical car insurance for high risk drivers. Vehicles with high performance engines, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than more economical and safe models.
The data below shows auto insurance prices for the cheaper automobiles to insure in Colorado.
|Vehicle Make and Model
|Estimated Cost for Full Coverage
|Ford Escape XLS 2WD
|Honda CR-V EX-L 2WD
|Honda Accord EX-L 4-Dr Sedan
|Jeep Wrangler Rubicon 4WD 2-Dr
|Dodge Grand Caravan Hero
|Toyota RAV4 Sport 2WD
|Chevrolet Malibu LS
|Ford F-150 SVT Raptor Super Cab 4WD
|Toyota Tacoma Double Cab 4WD
|Ford Focus S 4-Dr Sedan
|Ford Edge Limited 2WD
|Honda Odyssey EX W/Rear Entertainment
|Chevrolet Impala LT
|Chevrolet Equinox LS 2WD
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Data based on single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Rates do not factor in garaging location in Aurora, CO which can influence coverage rates substantially.
Based upon these rates, you can presume that models like the Ford Escape, Honda CR-V, and Honda Accord will be a few of the most affordable vehicles to insure for high risk drivers. Car insurance rates will tend to be more expensive anyway just because there is more liability risk for high risk drivers, but generally speaking those models will probably have the cheapest car insurance rates possible.
Establishing which companies quote the lowest-priced insurance rates for high risk drivers requires a little more sweat in order to find the lowest price quote. Every insurance provider uses a different method to determine premium rates, so let’s look at the rankings for the most budget-friendly insurance companies in Aurora.
It’s a good idea to know that Colorado insurance rates are determined by lots of factors which can significantly increase or decrease the price you pay. Improving your credit rating, buying higher coverage limits, or having an accident may cause policy rate changes that may make certain companies cheaper than others.
Best Car Insurance Prices for Risky Drivers
The Hartford may offer some of the best car insurance rates in Aurora at around $859 a year. Grange, USAA, Nationwide, and Auto-Owners are also some of the most economical Aurora, CO car insurance companies.
As shown in the table above, if you currently buy coverage from Nationwide and switched to Grange, you could realize an annual premium reduction of in the vicinity of $206. Colorado drivers with Auto-Owners might save as much as $219 a year, and Travelers customers might cut rates by $222 a year.
Understand that those prices are averaged for all types of insureds and vehicles and do not take into consideration a specific vehicle garaging location for high risk drivers. So the company that has the lowest price for you may not even be in the top 21 companies in the list above. That emphasizes why you need to compare rates from multiple companies using your own personal information and vehicle type.
Insuring your vehicle with the highest-rated car insurance company is hard considering how many different insurance companies sell coverage in Aurora. The rank data displayed below may help you choose which coverage providers to look at when comparing insurance rates for high risk drivers. These ratings are for companies with a national presence, so companies that have a smaller presence are not taken into consideration for this list.
Top 10 Major Car Insurance Companies Overall in Aurora
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
The diagram below highlights how deductible selection can raise or lower yearly insurance costs when trying to find cheap insurance for high risk drivers. The premiums are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The data above shows that a 50-year-old driver could lower their car insurance rates by $240 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $362 by switching to a $1,000 deductible. Even younger drivers, like the 20-year-old example, can save up to $594 annually just by using higher deductibles. When increasing deductibles, it is important to have enough funds in savings to satisfy the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
How careless driving impacts insurance rates
The recommended way to obtain cheap insurance premiums in Aurora for high risk drivers is to drive safe and not have accidents or get tickets. The diagram below illustrates how speeding tickets and at-fault claims increase car insurance costs for different age groups. The rates are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
The data charted above shows the average cost of an auto insurance policy per year with no accidents or violations is $1,878. Get one speeding ticket and the average cost rises to $2,131, an increase of $253 each year. Now add one accident along with the one speeding ticket and the yearly cost of insurance for high risk drivers increases to an average of $2,839. That’s an increase of $961, or $80 per month, just for a couple of infractions!
Your cheap policy may actually be overpriced
Aurora, CO insurance rates are influenced by many factors which can substantially change the cost of coverage. Getting older, buying a home instead of renting, or getting a speeding ticket may prompt premium changes that can cause some rates to be more affordable than others. In addition, car insurance companies file new Colorado auto insurance rates at least once a year in order to maintain liquidity for claims. Significantly higher claims may result in more expensive premiums, while less frequent claims may produce cheaper Aurora car insurance rates.
To help illustrate this point, the graph below shows the companies that have the cheapest car insurance in Aurora, CO for a 45-year-old male driver with no accidents, a clean driving record, and excellent credit. If we estimate rates based on his current risk profile, The Hartford may have the most affordable car insurance rates in Aurora at $1,096 annually. This is $482 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also included in the cheapest Aurora, CO auto insurance companies.
In this example, we will give the driver in the first example an accident surcharge, bad credit, and a speeding citation. Because every insurance company uses their own formula for setting rates, comparing prices may now result in a substantially altered list of the cheapest Aurora car insurance companies as shown below.
Travelers now has the cheapest car insurance in Aurora, CO with State Farm, American Family, Grange, and Progressive also having competitive pricing. This shows why consumers need to perform a complete rate comparison when trying to get the best insurance rates for high risk drivers.
Prices are made up of many risk factors and change frequently, so the most economical option six months ago may now cost much more than other companies.
If you aren’t sure which coverage you need and prefer to get help from a professional when shopping for cheaper insurance for high risk drivers, the insurance agencies below can probably provide answers to your questions and help you determine which insurance coverage will be best for you. To locate an Aurora car insurance agency using an interactive map, click the button following the list.
American Family Insurance – Denise M. Franklyn
13768 E Quincy Ave – Aurora, CO 80015 – (303) 693-8968
2241 S Peoria St # 202 – Aurora, CO 80014 – (303) 337-3600
Rick Simmons – State Farm Insurance Agent
14571 E Mississippi Ave – Aurora, CO 80012 – (303) 369-4100
Melissa Kitowski – State Farm Insurance Agent
13750 E Rice Pl Ste 101 – Aurora, CO 80015 – (303) 680-6666