Buying cheaper coverage for a Nissan Altima hinges on many different factors such as your financial responsibility, your credit history, and your driving record. Drivers pay around $887 annually to insure their Altima, but that price is based upon a 50-year-old married male driver with full comprehensive and collision coverage and $500 deductibles.
But there is a high probability that you’re not a 50-year-old male, single instead of married, or maybe you prefer liability limits higher than required by Colorado state law. Even a minor difference in rating factors or requested coverage amount can result in a big discrepancy in the policy rate.
This shows why the best way to find the most affordable coverage for your Nissan is to just compare rates yourself.
The trim level of your Altima has an effect on the yearly cost, so the rate you will pay to insure a Altima 2.5 4-Dr Sedan trim level will cost $194 less than the insurance cost for the higher-priced Altima 3.5 SR 2-Dr Coupe model, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Altima 2.5 4-Dr Sedan||$172||$314||$338||$20||$100||$944||$79|
|Altima 2.5 S 4-Dr Sedan||$172||$370||$338||$20||$100||$1,000||$83|
|Altima Hybrid 4-Dr Sedan||$194||$370||$338||$20||$100||$1,022||$85|
|Altima 2.5 S 2-Dr Coupe||$194||$370||$382||$22||$114||$1,082||$90|
|Altima 3.5 SR 4-Dr Sedan||$194||$370||$338||$20||$100||$1,022||$85|
|Altima 3.5 SR 2-Dr Coupe||$194||$426||$382||$22||$114||$1,138||$95|
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Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Information does not factor in your specific Aurora location which can increase or decrease insurance rates significantly.
Choosing the highest-rated company can be rather challenging considering how many different companies insure vehicles in Colorado. The ranking data in the next section could help you decide which auto insurers to look at when trying to find the cheapest insurance for a Nissan Altima. These rankings are for the largest companies in the United States, so companies that have a smaller presence are not factored into the list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Impact of careless driving on insurance rates
In a perfect world, the ideal way to receive good insurance premiums for an Altima is to drive safe and avoid accidents and violations. The diagram below illustrates how speeding tickets and at-fault claims increase annual premium costs for different age groups. The price estimates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are factored in.
In the chart above, the average cost of an auto insurance policy in Colorado per year with a clean driving record and no accidents is $2,492. Receive one speeding ticket and the average cost rises to $2,861, an increase of $369 each year. Then add one accident along with the one speeding ticket and the annual cost of insurance for a Nissan Altima goes up to an average of $3,924. That’s an increase of $1,432, or $119 per month, just for not driving attentively!
Full coverage or liability only
Paying less for insurance is probably important to the majority of vehicle owners, and one great way to pay lower rates for insurance for a Nissan Altima is to not pay for full coverage. The diagram below illustrates the comparison of premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes no claims or violations, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.
If we average the cost for all age groups, full coverage on your policy costs $2,088 per year over having just liability coverage. Lot’s of drivers question when is the right time to remove full coverage. There is no set guideline of when to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
There are some scenarios where buying only liability insurance is not in your best interest. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not drop full coverage.
How to find economical car insurance for a Nissan Altima
The list below summarizes some of the recommended penny-pinching suggestions that can help you locate lower-cost car insurance.
- Vehicles with safetly features generally cost less to insure
- At-fault accidents will increase rates
- Drop full coverage on older vehicles
- Just one traffic violation will increase your rates
- Claim-free drivers earn discounts
- Insure your home and auto with the same company
- Compare rates regularly to ensure the best deal
The last tip is notably significant, as we hit on in this write-up. Auto insurance prices fluctuate constantly, so drivers shouldn’t be reluctant to buy from a different company if a lower-cost policy is available. Staying with the same car insurance company is fine, but is isn’t recommended if your bullheadedness ends up costing you money that could be used for better things. Now is a great time to compare rates to find cheaper insurance for a Nissan Altima in Aurora.