In a perfect world, we could just tell you the company that has the cheapest coverage in Colorado. That is not the case, however, as there are a whole slew of unknown aspects like if you own your own home, whether you just want liability only, and if you are a man or woman, that help determine the price you have to pay. The content below covers the things that cause high insurance rates and should give you a good beginning to your quest for cheaper car insurance in Colorado.
Determining which insurers offer the cheapest auto insurance rates for inexperienced drivers takes a bit more work in order to find the lowest price quote. Every insurance company uses a slightly different approach for determining rates in each state, so let’s look at the rankings for the auto insurance companies that tend to have lower prices in Colorado Springs, CO.
We do need to point out that Colorado Springs, CO auto insurance rates are based on many factors that will increase or decrease the policy price. Simply having another birthday, increasing liability limits, or getting a DUI can trigger changes in premium that can now make some companies cheaper in comparison to the competition.
Find the Cheapest Auto Insurance for Newbies
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $978 |
| 3 | USAA | $1,029 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,176 |
| 6 | Auto-Owners | $1,192 |
| 7 | Travelers | $1,207 |
| 8 | State Farm | $1,246 |
| 9 | American Family | $1,262 |
| 10 | Progressive | $1,362 |
| 11 | Amica | $1,381 |
| 12 | California Casualty | $1,444 |
| 13 | Allied | $1,453 |
| 14 | Farmers | $1,581 |
| 15 | Colorado Farm Bureau | $1,640 |
| 16 | MetLife | $1,830 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,472 |
| 20 | Titan | $2,630 |
| View More Rates Go | ||
The Hartford normally has some of the most affordable car insurance rates in Colorado Springs at around $850 annually. This is $728 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also are some of the lowest-priced Colorado Springs, CO insurance companies.
As the example above demonstrates, if you are insured with Grange and switched to The Hartford, you may realize annual savings of in the vicinity of $128. Colorado drivers with USAA might save as much as $179 a year, and Nationwide customers might lower prices by up to $259 a year.
To see if you’re overpaying, click here to get a free quote or quote prices from the following companies.
These policy rates are averaged across all insureds and vehicles and do not factor in an exact zip code location for inexperienced drivers. So the insurer that has the cheapest rates for you may not even be in the top 21 companies shown above. That emphasizes why you need to get rate quotes using your own driver and vehicle profiles.
For new drivers, one of the big considerations that aid in calculating the price you pay for insurance is where you choose to live in Colorado Springs. Cities with larger populations likely pay more, whereas less populated areas benefit from having to pay less for coverage.
The information below lists the most costly cities in Colorado for inexperienced drivers to purchase a policy in. Colorado Springs comes in at #14 with an annual cost of $1,277 for the average insured, which is about $106 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Denver | $1,425 |
| 3 | Aurora | $1,403 |
| 4 | Commerce City | $1,368 |
| 5 | Northglenn | $1,329 |
| 6 | Ken Caryl | $1,326 |
| 7 | Lakewood | $1,324 |
| 8 | Littleton | $1,306 |
| 9 | Security-Widefield | $1,304 |
| 10 | Arvada | $1,295 |
| 11 | Brighton | $1,285 |
| 12 | Thornton | $1,281 |
| 13 | Centennial | $1,278 |
| 14 | Colorado Springs | $1,277 |
| 15 | Westminster | $1,272 |
| 16 | Parker | $1,270 |
| 17 | Castle Rock | $1,261 |
| 18 | Highlands Ranch | $1,229 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,195 |
| Compare Rates Now Go | ||
Rate quotes are estimated as the garaging address in Colorado Springs can influence rates substantially.
Driving violations and accidents
The recommended way to receive the most affordable auto insurance rates in Colorado Springs for new drivers is to be a safe driver and avoid tickets and accidents. The information below shows how traffic citations and accidents influence insurance prices for each different age group. The rates are based on a married male driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of auto insurance in Colorado per year with no accidents and a clean driving record is $1,576. Get written up for two speeding tickets and the average cost swells to $2,175, an increase of $599 each year. Then add in one accident along with the two speeding tickets and the 12-month cost of auto insurance for inexperienced drivers jumps again to an average of $2,772. That’s an increase of $1,196, or $100 per month, just for being a less-than-perfect driver!
The illustration below illustrates how choosing a deductible can raise or lower insurance costs when getting quotes for cheap insurance for inexperienced drivers. The data assumes a single female driver, full coverage, and no discounts are applied to the premium.
As shown above, a 30-year-old driver could lower their policy premium by $432 a year by increasing from a $100 deductible up to a $500 deductible, or save $648 by using a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could roll back prices up to $966 every year by choosing larger deductibles on their policy.
When choosing a higher deductible, it is essential to have plenty of money set aside to allow you to pay the extra out-of-pocket expense that is associated with using high deductibles.
Get discounts on Colorado Springs auto insurance rates
Car insurance companies that offer quotes for inexperienced drivers may also provide policy discounts that could lower prices by 35% or more if you are eligible to receive them. A few of the larger companies and their offered discounts are:
- Esurance offers discounts including online shopper, safety device, DriveSense, emergency road assistance, good driver, and anti-lock brakes.
- The Hartford has savings for anti-theft, good student, air bag, driver training, bundle, and vehicle fuel type.
- AAA may have discounts that include pay-in-full, multi-car, education and occupation, multi-policy, and AAA membership discount.
- GEICO discounts include military active duty, anti-theft, multi-vehicle, emergency military deployment, defensive driver, and driver training.
- State Farm includes discounts for driver’s education, accident-free, student away at school, passive restraint, and multiple policy.
The example below visualizes the comparison of insurance costs with and without discounts being applied to the rates. The data assumes a female driver, no accidents, no driving violations, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with marriage, multiple policy, defensive driving course, safe-driver, claim-free, and accident-free discounts applied. With discounts applied, the average savings per year on auto insurance for inexperienced drivers is 28% or $437.
Don’t stick with an overpriced policy
Colorado auto insurance rates are impacted by many things that control the price of your policy. Simply having another birthday, buying a home, or having an accident can trigger rate changes resulting in some rates now being more affordable than competitors.
Additionally, insurers change their prices every year to adjust for unexpected claims or profits. An unexpected high level of claims may cause more expensive premiums, while lower claim expenses can produce more affordable Colorado Springs car insurance rates.
The graph below shows the cheapest car insurance in Colorado Springs, CO for a 35-year-old female driver with no prior accidents, a clean driving record, and a high credit rating. If we estimate prices based on her current risk profile, The Hartford might offer the most affordable car insurance rates in Colorado Springs at $998 a year. This is $580 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide round out the rest of the best Colorado Springs, CO auto insurance companies.
The example below compares rates after we give the driver in the first chart a chargeable accident, a lower credit rating, and an imperfect driving record. Since each auto insurer has a unique formula for determining prices, comparing prices may result in a new list of the cheapest car insurance companies in Colorado Springs as shown below.
State Farm now has the best price in Colorado Springs with Travelers, American Family, Grange, and Amica also being competitive. This illustrates why it is so important to perform an extensive rate comparison when trying to find cheap car insurance rates for inexperienced drivers.
Car insurance prices consist of many things and can decrease or increase without notice, so the best price a year ago may now be priced much higher than other options.