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Drivers are required to carry auto insurance in Aurora, Colorado. While the average cost of car insurance in this city is higher than the national average, you can do a number of things to keep your premium low, such as shopping around and qualifying for discounts. Check out this detailed guide to learn more about auto insurance in Aurora, Colorado.
What Are the Minimum Auto Insurance Requirements in Aurora?
To drive legally in Aurora, you must meet the city’s minimum auto insurance liability coverage requirement, which is referred to as the 25/50/15 rule. This means you need to have the following coverage limits on your car insurance policy:
- $25,000 in per-person bodily injury liability coverage, which is the maximum amount your insurer will pay for the injuries of an individual person in a car accident that’s your fault.
- $50,000 in per-accident bodily injury liability coverage, which is the total amount your insurer will pay for every injured person involved in an accident.
- $15,000 in property damage liability coverage, which is the most your insurer will pay for property damage resulting from an accident.
Purchasing the required liability coverage may prevent you from getting into legal trouble, but it won’t provide you with financial protection in every situation. Also, if you’re financing your vehicle, you may have no choice but to buy extra coverage as your lender may require you to do so, says AutoinsuranceEZ.
What Are the Main Factors Affecting Auto Insurance Rates in Aurora?
Auto insurance providers in Aurora take a wide range of factors into consideration when calculating your car insurance quotes, including:
The Aurora neighborhood where you live can have an impact on your auto insurance rate. This is because crime, theft, and accident rates can vary from one ZIP code to another. If you reside in an area with a bad reputation, insurance companies may regard you as a high-risk customer. As such, you can expect your premium to be higher than that of a friend who lives in a safer neighborhood.
Generally, the cities with the most affordable auto insurance are those with a low population density. With fewer vehicles on the road, drivers have fewer opportunities to meet with a major accident. With a population of 345,803, Aurora is a relatively big city. Therefore, it has a high average car insurance cost.
A low credit score will adversely affect your monthly auto insurance premium. In some cases, drivers with poor credit scores pay twice as much for car insurance as those with excellent credit.
It may come as a surprise, but some car insurance providers charge teen drivers up to three times more than somebody twice their age. This is because of their lack of driving experience, which makes them much more likely to be involved in a crash.
Keeping a good driving record can help you reduce your auto insurance premium. At-fault accidents, speeding tickets, DUIs, and reckless driving citations can all contribute to higher car insurance costs. On the other hand, low-risk drivers are rewarded with affordable rates.
If you have a minor traffic violation such as a fender-bender or speeding ticket on your driving record, you can ask your car insurance provider if they offer an “accident forgiveness” discount. Such a discount can considerably lower your premium.
A luxury vehicle is usually much costlier to insure than an ordinary compact sedan. This is because a high-end vehicle is more expensive to repair or replace and requires much more comprehensive coverage.
A married couple can save a lot on auto insurance by purchasing their policies from the same insurance company. If the insurer also offers homeowners or renters insurance, you can take advantage of their bundling discount to further reduce your insurance cost.
Coverage and Deductible
If you want to buy more than the required minimum liability coverage but prefer not to pay the full-coverage premium, you should consider increasing your deductible. Opting for a higher deductible may increase your short-term expenses if you need to make a claim, but it can help you save on your monthly premium over the long term.
How Much Does Auto Insurance Cost in Aurora?
According to The Zebra, the average car insurance cost in Aurora is $2009 per year. This is higher than the state average of $1757 and the national average of $1548. The insurance company you choose is one of the main determinants of your auto insurance rate. In Aurora, USAA is the most affordable option for the average insurance buyer. Below are the insurers that offer the cheapest car insurance in Aurora:
- USAA: $1169 per year.
- GEICO: $1266 per year.
- State Farm: $1518 per year.
- Allstate: $2038 per year.
- Farmers: $2497 per year.
What Are Some of the Auto Insurance Discounts Available in Aurora?
QuoteWizard recommends that you try to qualify for the following discounts to reduce your auto insurance cost:
- Bundling discount: Bundling your auto insurance policy with your renters, homeowners, or life policy can help you lower your premium by up to 20 percent.
- Senior discount: If you’re 55 years old or older, you’re entitled to the senior discount or retiree discount.
- Military discount: An active or retired military member can take advantage of the military discount to reduce their car insurance rates.
- Safety equipment discount: You may qualify for this discount if your vehicle is equipped with safety features such as electronic stability control and anti-lock brakes.
- Low-mileage discount: Living close to your workplace or occasionally taking the bus may make you eligible for the low-mileage discount.
- Marriage discount: Some car insurance providers offer a discount to drivers who are married or getting married soon.
While it’s important to look for cheap auto insurance in Aurora, you should have enough liability coverage to protect yourself from large out-of-the-pocket expenses in the event of a major accident. Choosing higher coverage limits can cause your car insurance premium to go up, but it can potentially prevent you from getting into big financial trouble.
Check this out if you need additional information, resources, or guidance on car insurance.
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