Figuring out which companies offer the most affordable insurance rates for low income drivers will take a bit more work in order to find the lowest price quote. Each auto insurer uses their own calculation for determining rates, so let’s take a look at the insurance companies that tend to be cheaper in Aurora.
It’s important that readers know that Aurora, CO insurance rates are influenced by many factors that will increase or decrease the price of your policy. Simply turning a year older, buying another vehicle, or getting caught speeding may cause policy rate changes that can make some companies more affordable than before.
Find the Cheapest Auto Insurance in Colorado
The Hartford may offer some of the lowest car insurance rates in Aurora at around $834 a year. Grange, USAA, Nationwide, and GEICO would also make the list of some of the more affordable Aurora, CO car insurance companies.
As illustrated above, if you have coverage with USAA and switched to The Hartford, you might see an annual premium reduction of around $175. Policyholders with Nationwide could save as much as $309 a year, and GEICO policyholders might lower prices by up to $318 a year.
To see if you’re overpaying, click here to start your free quote or feel free to get quotes from the companies below.
Understand that those prices are averaged for all insureds and vehicles and do not take into consideration an exact vehicle garaging location for low income drivers. So the car insurance company that can offer you the best price may not even be in the top 21 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own driver information and specific vehicle type.
For poor drivers, one of the more important things that determine the price you pay for insurance is where your car is garaged. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas with less congestion can boast about having cheaper rates.
The information below rates the most expensive places in Colorado for low income drivers to buy auto insurance in. Aurora is ranked at #3 having an annual price of $1,375 on average, which is around $115 each month.
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Premium costs are approximated as the specific garaging location can impact auto insurance rates greatly.
Impact of violations and accidents on rates in Aurora
A great way to enjoy the most affordable insurance premiums in Aurora for poor drivers is to be an attentive driver and avoid accidents and violations. The illustration below shows how traffic citations and at-fault fender-benders can impact annual premium costs for different insured age categories. Data assumes a married female driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
The data charted above shows the average cost of an auto insurance policy in Colorado per year with no accidents and a clean driving record is $1,423. Get written up for one speeding ticket and the average cost increases to $1,657, an increase of $234 each year. Now add in two accidents along with the one speeding ticket and the 12-month cost of insurance for low income drivers goes up to an average of $3,672. That’s an increase of $2,249, or $187 per month, just for being a less-than-perfect driver!
Colorado insurance companies
Finding a highly-rated company can be challenging considering how many choices there are in Colorado. The rank data listed below may help you choose which auto insurers to look at comparing rates from.
The rankings below are for insurance companies that insure vehicles in the majority of U.S. states, so companies that focus mainly on Colorado business are not included in the list. To get rate quotes and find cheaper insurance for low income drivers, simply click here.
Top 10 Major Auto Insurance Companies Overall in Aurora
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
Cost comparison with and without full coverage
Saving money when shopping for insurance should be important to most vehicle owners, and an easy way to save on the cost of insurance for low income drivers is to not buy comprehensive and collision coverage. The diagram below compares car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. The premiums assume no driving violations, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are factored in.
If averaged for all ages, full coverage costs $1,967 per year over and above liability coverage. Many drivers will wonder if you should buy full coverage at all. There is no definitive guideline that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $5,000 after the policy deductible has been paid. If premium cost is more than $500 a year for your policy with full coverage, then it might be time to buy liability only.
There are a few cases where buying only liability insurance is not advised. If you still owe money on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.
Tips for finding low-cost car insurance for low income drivers
Here are some of the recommended thrifty ideas that can help Aurora drivers locate cheaper auto insurance.
- Home or renters coverage can save on auto insurance
- Earn a discount by not filing claims
- Increase your credit rating
- Choose a safer vehicle and pay lower rates
- Raise your deductibles
- Do not insure for full coverage
- Shop around for lower rates once a year
That last piece of advice is extraordinarily crucial, as was discussed in this piece. Coverage rates in Aurora can be changed at any time, so don’t be unwilling to switch to a new company if a lower-cost policy is available. Staying with the same company for years is fine, but it’s not recommended if that stubbornness costs you hundreds of dollars a year. Take a couple minutes and shop around and find cheaper car insurance for low income drivers.
The agents below are a good start to answer your questions and help you decide which auto insurance policy would work best for you, since lots of people like to have professional advice when shopping for the best coverage for poor drivers. It’s not always easy to find coverage yourself, and a professional agent can provide satisfaction knowing you have adequate asset protection. To locate an Aurora car insurance agency closest to you, click the link after the list or click here to compare rates now.
- Allstate Insurance: Jeff Heinrich
5001 S Parker Rd – Aurora, CO 80015 – (303) 773-2019
- Paul Macaluso – State Farm Insurance Agent
Ste A6, 16911 E Quincy Ave – Aurora, CO 80015 – (303) 690-6700
- American Family Insurance – Rick Laikola Agency Inc.
3102 S Parker Rd Ste A16 – Aurora, CO 80014 – (303) 696-2666