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Best cheap car insurance in Colorado Springs for 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best car insurance companies in Colorado Springs
Choosing the best car insurance in Colorado Springs involves considering a range of factors beyond just the cost. To better assist your decision-making, we evaluate carriers based on coverage options, customer service ratings from sources like the J.D. Power Auto Insurance Study, discount availability, financial strength and user-friendly online and mobile tools. We also gather data from Quadrant Information Services to help identify cost-effective providers for Colorado Springs residents. Each insurer's Bankrate Score, which is based on a five-point scale, reflects its overall performance in these critical areas.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: Geico consistently ranks as a top choice for auto insurance in Colorado Springs, thanks to its competitive pricing for both minimum and full coverage options. Known for its strong digital presence and efficient online tools, Geico makes managing insurance policies convenient for those who prefer an online experience. While the company offers essential coverage types and some add-ons, like emergency road service and rental reimbursement, it may not be the best fit for those seeking more specialized coverage.
Why Geico is best for budget-conscious drivers: Geico stands out as the best option for drivers in Colorado Springs looking for affordable premiums without compromising on service quality. With rates that are often below the city average, and a variety of discounts geared toward young drivers—including good student and driver training discounts—Geico may be well-suited for those new to the road or anyone aiming to reduce their car insurance expenses. Their competitive pricing coupled with a comprehensive set of discounts makes Geico a leading choice for budget-conscious consumers and younger drivers alike.
| Bankrate Score | 4.4 |
| J.D. Power | 804/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Progressive made our list: Progressive is our 2024 Bankrate Award winner for Best for High-Risk Drivers, although it also offers competitive average rates across multiple driver profiles. Progressive also excels in its digital tools and the flexibility of its policy options, which include unique add-ons like rideshare coverage and custom parts and equipment coverage.
Why Progressive is best for high-risk drivers: Progressive stands out as the best choice for high-risk drivers in Colorado Springs, offering competitive average rates for drivers with speeding tickets and accidents. While coverage eligibility will depend on your specific driving history, tools like Snapshot and Name Your Price give drivers options to lower their premiums and find the most coverage based on their budget.
| Bankrate Score | 4.4 |
| J.D. Power | 809/1,000 |
| AM Best score | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why State Farm made our list: State Farm stands out in the Southwest region, where it leads with the highest customer satisfaction score in the 2023 J.D. Power U.S. Auto Insurance Study. While not the cheapest on the market, State Farm’s rates could still offer a solid balance of affordability and quality service. Although State Farm may not offer as wide a range of discounts as some competitors, its blend of coverage options and personalized service through local agents makes it a strong contender.
Why State Farm is best for personalized service: State Farm is best recognized for providing personalized insurance experiences, facilitated by a network of local agents who offer tailored service that many policyholders value. This approach is complemented by State Farm's robust coverage options and advanced digital tools, which garner high ratings in satisfaction studies.
| Bankrate Score | 4.3 |
| J.D. Power | 835/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Auto-Owners made our list: Auto-Owners stands out in Colorado Springs with its highly customizable insurance policies, which could make it an excellent choice for those seeking tailored coverage options. Recognized for its commitment to personal service, Auto-Owners works through a network of local agents, providing an individualized experience that many policyholders appreciate.
Why Auto-Owners is best for customizable coverage: Auto-Owners offers a long list of potential endorsements, including roadside service and loan/lease gap coverage, which could make it a great option for drivers in Colorado Springs with unique coverage needs.
| Bankrate Score | 4.3 |
| J.D. Power | 808/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why USAA made our list: USAA consistently ranks highly for its customer service and competitive pricing for members of the military community and their families. While USAA does not have in-person agents, it compensates with exceptional online tools and support, making it a practical choice for those who qualify for its services.
Why USAA is best for military families and veterans: USAA is one of the best insurance options for military families and veterans, offering specialized coverage that acknowledges the unique circumstances of military life. Whether stationed domestically or abroad, members can benefit from USAA’s comprehensive coverage options and military-focused discounts. USAA’s dedication to serving the military community is reflected in its consistently high customer satisfaction ratings and its ability to maintain lower-than-average premiums.
| Bankrate Score | 4.2 |
| J.D. Power | 879/1,000 |
| AM Best score | A++ |
Bankrate's trusted insurance industry expertise
Read our full methodologyAt Bankrate, our dedicated team leverages the latest rate data from Quadrant Information Services to provide up-to-date premium analysis by ZIP code. Our writers and editors, including licensed insurance agents, meticulously combine this data with independent customer satisfaction ratings and comprehensive reviews of financial strength and coverage options. This thorough approach helps identify the best insurance providers, tailored to meet diverse needs and budgets.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Colorado Springs
When searching for the cheapest car insurance in Colorado Springs, it's important to consider more than just the lowest available rates. Factors such as coverage options, the reliability of the insurer and customer service should all play a part in your decision-making process. Drivers in Colorado Springs might find that local and national insurance providers vary significantly in price, digital tools, discounts and endorsements. The following companies offer some of the lowest average rates for Colorado Springs drivers with clean driving records.
| Insurance company | Average annual min coverage premium | Average annual full coverage premium |
|---|---|---|
|
American National
|
$241
|
$1,395
|
|
$388
|
$1,900
|
|
|
$306
|
$1,911
|
|
|
$660
|
$2,153
|
|
|
$352
|
$2,579
|
How much is car insurance in Colorado Springs, Colorado?
In Colorado Springs, average car insurance costs vary depending on the coverage level you choose. The average annual premium for minimum coverage is 7 percent more than the Colorado state average, while the average full coverage rate is 7 percent more. Below you can see how policy rating factors, like teen drivers, accidents and speeding tickets could impact your search for cheap coverage.
Colorado Springs rates for teens
Securing car insurance for teen drivers in Colorado Springs often requires careful consideration, given that premiums for young drivers can be significantly higher than average. Fortunately, many carriers offer discounts specifically to help young drivers save. These include safe driver, good student and telematics programs.
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
$725
|
$620
|
|
|
American National
|
$828
|
$362
|
|
$1,089
|
$736
|
|
|
Acuity
|
$1,323
|
$1,312
|
|
$1,613
|
$1,444
|
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
American National
|
$3,100
|
$1,776
|
|
$3,874
|
$3,328
|
|
|
$4,215
|
$3,241
|
|
|
$5,271
|
$5,018
|
|
|
$5,511
|
$4,412
|
Colorado Springs rates for young drivers
For young drivers in Colorado Springs establishing their own car insurance policies, the costs can be notably higher once you venture off your parents' plan. Young adults looking for their own car insurance may want to carefully consider their coverage options and can seek out discounts geared towards their demographic. Shopping around for quotes from various insurers can also help young drivers in Colorado Springs find a policy that offers the best balance of cost and coverage.
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
American National
|
$538
|
$276
|
|
$858
|
$524
|
|
|
$920
|
$350
|
|
|
$924
|
$286
|
|
|
$1,515
|
$841
|
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
American National
|
$2,573
|
$1,614
|
|
$3,970
|
$2,565
|
|
|
$4,545
|
$2,104
|
|
|
$4,876
|
$3,065
|
|
|
$5,871
|
$3,707
|
Colorado Springs rates for adults
Adult drivers in Colorado Springs may find their car insurance rates to be more stable than those for younger drivers, thanks to their longer driving histories and potential for more established credit histories. However, costs can still vary widely based on individual factors like driving record, vehicle type and ZIP code. If you're an adult with multiple insurance policy needs, you may be able to save with multi-policy bundles.
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
American National
|
$254
|
$241
|
$226
|
|
$273
|
$352
|
$348
|
|
|
$309
|
$306
|
$308
|
|
|
$430
|
$388
|
$381
|
|
|
$592
|
$534
|
$491
|
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
American National
|
$1,553
|
$1,395
|
$1,335
|
|
$1,943
|
$1,911
|
$1,822
|
|
|
$2,118
|
$1,900
|
$1,792
|
|
|
$2,209
|
$2,153
|
$2,015
|
|
|
$2,425
|
$2,579
|
$2,400
|
Colorado Springs rates for senior drivers
Senior drivers often benefit from lower car insurance rates due to their extensive driving experience. However, as drivers continue to age, insurance costs might gradually increase due to risks associated with older age. Seniors can help mitigate these potential cost increases by maintaining a clean driving record, opting for cars with advanced safety features and participating in defensive driving courses that often attract discounts.
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
American National
|
$217
|
$296
|
|
$308
|
$450
|
|
|
$315
|
$353
|
|
|
$378
|
$450
|
|
|
$476
|
$533
|
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
American National
|
$217
|
$1,288
|
|
$308
|
$1,993
|
|
|
$378
|
$1,857
|
|
|
$588
|
$2,374
|
|
|
$315
|
$2,500
|
The cheapest car insurance in Colorado Springs by driving record
Your driving record is a crucial factor that insurance companies consider when determining your car insurance rates in Colorado Springs. Drivers with clean records typically enjoy lower premiums, as insurers see them as lower risk. Conversely, having infractions, such as speeding tickets, accidents or DUIs, can lead to higher rates. Carriers weigh these risks differently, so shopping around may be especially effective for cost savings if you have a mark or two on your driving record.
Car insurance with a speeding ticket in Colorado Springs
Colorado Springs drivers with a single speeding ticket pay average full coverage rates that are 23 percent more than drivers with clean records. This hike reflects the increased risk insurers associate with drivers who have speeding violations.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
American National
|
$292
|
$1,555
|
|
$349
|
$2,331
|
|
|
$487
|
$2,371
|
|
|
$588
|
$3,879
|
|
|
$686
|
$4,918
|
Car insurance after an accident in Colorado Springs
Having an at-fault accident on your record in Colorado Springs raises full coverage rates by an average of 45 percent more compared to the city average. If you're concerned about the potential future rate impacts of an accident, you may want to explore carriers that offer accident forgiveness coverage.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
American National
|
$292
|
$1,555
|
|
$447
|
$3,022
|
|
|
$611
|
$2,777
|
|
|
$673
|
$4,293
|
|
|
$933
|
$5,799
|
Car insurance after a DUI in Colorado Springs
Drivers with DUIs pay some of the highest average car insurance rates due to their high-risk status. If you have a DUI on your record, you may need to seek coverage from a carrier that specializes in high-risk policies.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
American National
|
$394
|
$1,873
|
|
$618
|
$4,535
|
|
|
$639
|
$3,432
|
|
|
$848
|
$4,975
|
|
|
$914
|
$4,280
|
Minimum coverage requirements in Colorado Springs
In Colorado Springs, as throughout Colorado, drivers are mandated by law to carry minimum liability insurance to ensure financial responsibility in the event of an auto accident. This requirement is designed to cover potential costs associated with damages and injuries you may cause to others in an accident:
- Bodily injury liability: $25,000 per person and $50,000 per accident
- Property damage liability: $15,000 per accident
These minimums, commonly referred to as 25/50/15, are just the starting point for drivers looking to financially protect themselves on the road. Carrying proof of this insurance is not only a legal requirement but also necessary when registering a vehicle with the Colorado Department of Motor Vehicles.
Given the costs associated with vehicle repairs and medical care, drivers in Colorado Springs might consider selecting coverage limits that exceed the legal minimums. This can be particularly prudent in a metro area where accidents might increase due to denser traffic conditions. Also, considering additional coverage types such as collision, comprehensive and uninsured/underinsured motorist coverage can provide more comprehensive protection, safeguarding your financial stability in the event of an accident or other damage to your vehicle.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze July 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Scores
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
Tier scores are unweighted to show the company's true score in each category out of a possible five points.
