Cheapest Car Insurance Quotes In Colorado Springs, CO For 2024

State Farm is recognized as the most affordable choice in Colorado Springs, offering an average monthly rate of $27.

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Updated: 03 May 2024
Written by Bob Phillips
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When searching for budget-friendly car insurance in Colorado Springs, CO, the options can vary, but State Farm stands out for its competitive rates. On average, residents can obtain car insurance for about $27 per month, significantly below the state’s average of $130.

For individuals interested in the most economical liability-only coverage, State Farm is the top choice. Meanwhile, those seeking more comprehensive protection may find State Farm offers the best rates for full coverage policies, priced at $57 monthly. For young drivers, USAA provides the most affordable rates, coming in at $128 per month.

Cheapest Car Insurance Companies In Colorado Springs, CO

Cheapest Car Insurance, Colorado Springs, CO

Our Methodology

Utilizing a comprehensive analysis that considers various factors including customer service ratings, product options, pricing, and thorough evaluations of numerous online review sites and user experiences, I have developed an in-depth understanding of the car insurance provider landscape in Colorado Springs, CO. This perspective has been honed through more than 15 years of personal involvement in the industry as a licensed insurance agent. It's based on countless interactions with representatives from different companies and insights gained from firsthand experience.

65

Quotes Analyzed

15+

Years Of Industrial Experience

22

Brands Reviewed

35+

Research Hours

How Much Is Car Insurance In Colorado Springs, CO?

State Farm provides the most affordable car insurance in Colorado Springs, CO, with coverage available for $140 per month. A comparison with average rates across Colorado and the entire United States demonstrates the significant affordability of its offerings, as depicted in the table below:

Area Average Monthly Rate
National $152
Colorado $130
Colorado Springs, CO $140

It’s important to note that the average national cost encompasses a wide range of states, from high-cost regions like New York, New Jersey, and California to low-cost areas such as Mississippi, Kentucky, and Wyoming. Car insurance rates vary by location due to various factors, including the type of vehicle, level of coverage, zip code, driving record, and more.

Cheapest Car Insurance Rates In Colorado Springs For Full Coverage

GEICO has the cheapest car insurance rates for full coverage. Their quotes average $57 a month in Colorado Springs.

Provider Average Monthly Cost Average Annual Cost
Progressive $92 $1,286
GEICO $57 $682
Farmers $103 $1,238
Allstate $80 $958
State Farm $70 $838

Full coverage car insurance provides an all-encompassing protective umbrella that goes beyond the basic coverage mandated by law. This insurance typically merges comprehensive and collision coverages.

Comprehensive coverage safeguards against non-collision incidents, including theft, vandalism, or natural events, while collision coverage ensures financial protection for vehicle damages due to accidents, without regard to the responsible party.

Cheapest Car Insurance Rates In Colorado Springs For Seniors

State Farm quotes average $67 a month, the cheapest car insurance rates for seniors in Colorado Springs

Provider Average Monthly Cost Average Annual Cost
State Farm $67 $802
GEICO $92 $1,095
Progressive $93 $1,107
Farmers $101 $1,213
Kemper $104 $1,249

In Colorado, many seniors may find advantageous car insurance rates, influenced by a range of beneficial factors. Although age is typically a factor in insurance rate determinations, with older age sometimes associated with decreased driving ability, this stereotype does not hold true for all.

Cheapest Car Insurance Rates In Colorado Springs For Minimum Coverage

GEICO is the cheapest car insurance company for minimum coverage in Colorado Springs, with an average monthly cost of $27.

Provider Average Monthly Cost Average Annual Cost
GEICO $27 $322
Progressive $42 $500
Nationwide $43 $514
State Farm $48 $574
Kemper $49 $581

The minimum car insurance policy should have at least the following:

  • $25,000 for bodily injury per person
  • $50,000 for bodily injury per accident
  • $15,000 for property damage per accident

Having minimum car insurance provides you with some protection while on the road, but it does not include collision or comprehensive insurance, which means damages to your own vehicle in the event of an accident or other incidents like theft and natural disasters won’t be covered.

Driving without insurance is also illegal in Colorado. Your inability to show proof of insurance during a traffic stop may result in various penalties. These may range from being fined to having your license suspended or worse.

Cheapest Car Insurance Rates In Colorado Springs For Teenagers

Teenage drivers in Colorado Springs can find the cheapest quotes from Kemper, with average monthly premiums of $113.

Provider Average Monthly Cost Average Annual Cost
State Farm $265 $3,187
GEICO $193 $2,315
Kemper $113 $1,355
Farmers $354 $4,112
Allstate $194 $2,330

Teenage drivers often face the most expensive car insurance premiums, and this is predominantly due to their inexperience behind the wheel. Insurance providers consider these young motorists to be a high-risk category because they are statistically more prone to be involved in accidents and commit traffic infractions.

Cheapest Car Insurance Rates In Colorado Springs For Young Adults

USAA offers the cheapest quotes for young adults in Colorado Springs. Rates are around $128 a month.

Provider Average Monthly Cost Average Annual Cost
Colorado Farm Bureau Mutual $165 $1,978
Safeco $175 $2,098
Allstate $212 $2,542
USAA $128 $1,534
State Farm $145 $1,738

In Colorado, young adult drivers typically benefit from lower car insurance rates compared to their teenage counterparts. This discrepancy in pricing is attributed to the maturation of driving habits and a corresponding decrease in risk-taking behaviors as drivers age.

Statistically, young adults are less likely to file claims with insurance companies, a factor that reflects a reduction in accident involvement. Consequently, insurers adjust premiums downward, recognizing the improved safety records and decreased likelihood of claims from these more experienced drivers

Cheapest Car Insurance Rates In Colorado Springs For Good Drivers

Good drivers in Colorado Springs can find the cheapest car insurance quotes from GEICO, at around $27 a month.

Provider Average Monthly Cost Average Annual Cost
GEICO $27 $322
Progressive $42 $500
Nationwide $43 $514
State Farm $48 $574
Kemper $49 $581

Drivers with clean driving records in Colorado Springs typically receive lower car insurance rates because they’re perceived as lower risk. Insurance companies use driving records as a way to gauge how safely a person drives. Fewer incidents, like accidents or traffic violations, suggest that the driver is cautious and less likely to file a claim.

Since insurers base their rates on the likelihood of a driver making a claim, a spotless driving record can lead to significant savings on premiums. It’s all about risk assessment – the cleaner the record, the lower the perceived risk, and, consequently, the lower the insurance cost.

Cheapest Car Insurance Rates In Colorado Springs For Drivers With Prior Incidents

In Colorado Springs, drivers with records of traffic violations, including accidents, speeding, or DUIs, often face difficulties obtaining affordable car insurance. Such driving infractions lead insurance companies to label them as high-risk, a designation that comes with the expectation of a greater chance of filing future insurance claims.

Consequently, insurance providers adjust their rates upward for these individuals to mitigate the risk of incurring higher claim payouts.

Cheapest Car Insurance Rates In Colorado Springs For Drivers With A Speeding Ticket

State Farm is very cheap compared to other companies. The company offers average rates of $135 a month.

Provider Average Monthly Cost Average Annual Cost
State Farm $135 $1,618
Auto-Owners $205 $2,458
Geico $198 $2,374
Allstate $270 $3,238
Progressive $215 $2,578

Cheapest Car Insurance Rates In Colorado Springs For Drivers With An At-Fault Accident

State Farm offers the cheapest car insurance quotes for drivers with an at-fault incident, with an average rate of $140 per month.

Provider Average Monthly Cost Average Annual Cost
State Farm $140 $1,678
Auto-Owners $259 $3,218
Geico $265 $3,242
American Family $400 $4,897
Farmers $555 $6,717

Cheapest Car Insurance Rates In Colorado Springs For Drivers After A DUI

Progressive is the company with the cheapest rates for drivers after a DUI. They offer Colorado Springs drivers average monthly premiums of $212.

Provider Average Monthly Cost Average Annual Cost
State Farm $325 $3,898
Auto-Owners $327 $3,922
Progressive $212 $2,542
Geico $269 $3,226
Allstate $320 $3,838

Best Car Insurance Companies In Colorado Springs

For drivers in Colorado Springs, choosing the right car insurance company is as much about finding affordable rates as it is about securing reliable protection on the road. Shown below are the top 10 car insurance companies in Colorado Springs, CO, ranked by the average monthly rate they offer.

Company Monthly Premium
Safeco $157
Metropolitan $158
National Farmers Union $178
Auto-Owners $163
NatGen Value $158
USAA $103
Allstate $170
State Farm $109
Colorado Farm Bureau Mutual $118
Nationwide $163

Average Car Insurance Rates By Age In Colorado Springs

Age Average Yearly Rate
Teenagers $3,198
20s $1,848
30s $1,368
40s $1,320
50s $1,236
60s $1,068
70s $1,320

Age is a significant factor in determining car insurance rates. Generally, younger drivers, particularly teens and young adults, face higher insurance premiums due to their inexperience and statistically higher likelihood of accidents and traffic violations. As drivers reach the age of 25, their rates typically start to decrease, assuming a clean driving record.

The most favorable insurance rates are often found for drivers in their 50s and early 60s. Insurance companies use age as a metric to gauge driving experience and risk potential, influencing the cost of premiums accordingly.

Average Car Insurance Rates By Vehicle Type In Colorado Springs

Vehicle Average Monthly Rate
Ford Explorer $435
Dodge Challenger $1,028
Ford Escape $586
Ford Fusion $115
Saab 9-3 $300

The type of vehicle you drive significantly influences your car insurance costs. Factors such as the make, model, year, and body type of the car are all taken into account by insurance companies. Typically, newer vehicles, especially luxury models with advanced technology and higher replacement costs, tend to have higher insurance rates.

Conversely, older cars or those less expensive to repair or replace may attract lower premiums. Insurers consider these aspects because they directly impact the potential cost of claims – for instance, repairs for a high-end car are generally more costly than for a standard vehicle. Additionally, certain car models known for safety may qualify for lower insurance rates due to a reduced risk of accidents and injuries.

How Much Is Car Insurance For Other Cities In Colorado?

City Average Monthly Rate
Englewood $125
Fort Collins $110
Golden $127
Grand Junction $95
Arvada $120
Aurora $150
Boulder $116
Broomfield $116
Pueblo $122
Denver $140

Your city of residence plays a significant role in determining your car insurance rates. Insurance companies consider several factors related to your location, including the likelihood of accidents, rates of vehicle theft, and incidents of vandalism. These factors tend to be more prevalent in urban areas, leading to increased risk and higher insurance premiums.

FAQs

Who has the lowest car insurance rates in Colorado Springs?

The lowest car insurance rates in Colorado Springs are offered by GEICO for the minimum coverage required by the State of Colorado and GEICO for full coverage, which includes comprehensive and collision coverage.

What is the average cost of car insurance in Colorado Springs?

The average cost of car insurance in Colorado Springs is about $140 per month. Rates will vary based on your zip code, year and model of car, driving record, etc.

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