The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, in particular when trying to find the lowest insurance rates for veterans. Because it’s so expensive, let’s learn about some of the things that can significantly affect car insurance prices, and figure out some ways to take a little off your next policy.
One of the many components that aid in calculating the cost of insurance is where you keep your vehicle in Aurora. More populated areas tend to pay more, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper auto insurance prices.
The illustration below rates the priciest cities in Colorado for veterans in which to purchase auto insurance. Aurora ranks #3 with a yearly cost of $1,403 for the average policyholder, which is around $117 per month.
|Find the Best Rates Go|
Annual rates are approximated as specific Aurora garaging address can lower or raise premiums significantly.
Finding out which company has the cheapest car insurance rates for veterans requires a little more sweat in order to find the best policy.
Each insurer uses their own method to set premium rates, so let’s take a look at the most competitive car insurance companies in Aurora, CO. It’s important to know that Aurora, CO car insurance rates are calculated based on many things that may substantially change the policy premium. Simply improving your credit, buying a new vehicle, or getting a ticket for careless driving may cause policy rate changes resulting in some rates now being cheaper than competitors.
Best Car Insurance Prices for Vets
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
|Get a Custom Quote Go|
The Hartford generally has some of the most affordable car insurance rates in Aurora at around $825 annually. Grange, USAA, Nationwide, and GEICO are also some of the cheaper Aurora, CO auto insurance companies.
As shown in the rates above, if you buy coverage from Grange and switched to The Hartford, you could earn a yearly savings of in the vicinity of $153. Colorado drivers with USAA could save as much as $214 a year, and Nationwide insureds might reduce rates by $284 a year.
If you would like to find cheaper car insurance rates, click here to get quotes or click several companies below for low rates.
Be aware that those premium estimates are averaged across all types of insureds and vehicles and do not factor in a vehicle location for veterans. So the company that has the cheapest rates for you may not even be in the top 21 companies in the list above. That helps illustrate why you need to get quotes using your own specific driver and vehicle information.
The vehicle model requiring coverage is probably the most important factor that determines the availability of the most economical auto insurance for veterans. Vehicles with limited speed and performance, an excellent safety record, or a low likelihood of liability claims will cost quite a bit less to insure than higher performance models.
The next table illustrates coverage costs for a selection of the most affordable automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,059|
|Hyundai Elantra SE Touring Station Wagon||$1,124|
|Honda Accord EX 4-Dr Sedan||$1,179|
|Ford Edge Limited 2WD||$1,199|
|Ford Escape XLT 4WD||$1,209|
|Toyota RAV4 Limited 4WD||$1,224|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,250|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,287|
|Ford F-150 XLT Crew Cab 2WD||$1,312|
|Ford Explorer Eddie Bauer 2WD||$1,320|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,337|
|Honda Odyssey EX W/Rear Entertainment||$1,365|
|Chevrolet Impala LT||$1,388|
|Chevrolet Malibu LS||$1,398|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,395|
|Jeep Grand Cherokee Laredo 2WD||$1,400|
|Volkswagen Jetta LE 4-Dr Sedan||$1,395|
|Chevrolet Silverado LT Crew Cab 2WD||$1,400|
|Toyota Camry Hybrid||$1,410|
|Dodge Ram Crew Cab SLT 4WD||$1,425|
|Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD||$1,431|
|Dodge Grand Caravan Crew||$1,428|
|Get a Custom Quote Go|
Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in specific zip code location which can decrease or increase price quotes significantly.
Looking at the numbers, you can see that models like the Honda CR-V, Hyundai Elantra, Toyota Prius, and Honda Accord are likely to be the more affordable vehicles to insure for veterans.
Cost difference between full coverage and liability
Saving money on car insurance is important to the majority of drivers, and one of the best ways to save on the cost of insurance for veterans is to not pay for full coverage. The illustration below shows the comparison of insurance costs when comparing full coverage to liability only. The prices are based on no claims or violations, $250 deductibles, single marital status, and no discounts are applied to the premium.
If all age groups are averaged, physical damage coverage costs an extra $1,845 per year more than buying just liability insurance. Lot’s of drivers question when is it a good idea to stop buying full coverage. There is no definitive formula to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
For example, let’s assume your vehicle’s claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after you pay the deductible. If premium cost is more than $300 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping full coverage is not recommended. If you haven’t paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage.
The illustration below highlights how deductible selection can affect premium costs when quoting cheap insurance for veterans. The information is based on a single male driver, full physical damage coverage, and no discounts are taken into consideration.
As shown above, a 30-year-old driver could lower their policy premium by $388 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $584 by switching to a $1,000 deductible. Even younger insureds, such as the Age 20 example, could potentially save up to $1,140 annually by selecting a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will be important to have enough in a savings account to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Here’s why you should compare rates often
Colorado car insurance rates are based on many factors that can increase the policy price. Simply having a birthday, moving across town, or getting a ticket for careless driving may prompt premium changes resulting in some companies being cheaper than competitors. Additionally, insurers file new rates as often as every quarter to adjust for gains or losses. Higher than usual claims can cause increased rates, while lower claim expenses can produce cheaper Aurora car insurance rates.
For example, the bar chart below compares the cheapest car insurance in Aurora, CO for a 35-year-old female driver with no violations or accidents, and a decent credit rating. If we look at prices based on her current rating profile, The Hartford may have the best car insurance rates in Aurora at $1,035 per year. This is $543 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are the rest of the most affordable Aurora, CO auto insurance companies.
In the next rate comparison, we’ll give the driver from the first rate comparison a chargeable claim, a little lower credit rating, and a blemish on her driving record. Since each auto insurance company uses their own calculation for filing rates in each state, getting updated rate quotes will most likely result in a significantly different list of companies as shown below.
Travelers now has the lowest price in Aurora, CO with State Farm, American Family, USAA, and Progressive also having competitive pricing. This example proves why it is critical to take the time to shop around when trying to find the most economical auto insurance rates for veterans. Auto insurance prices are influenced by many things and can increase or decrease at any time, so the best option the last time you shopped around may now be costing you a lot of money.