Wouldn’t life be great if we could tell you that one special company that has the cheapest insurance for government employees? It’s just not that easy, however, as there are a whole bunch of unknowns such as whether or not you have had gaps between policies, the vehicle you are insuring, and how high your deductibles should be, that all impact the cost of coverage. This article will cover the best ways to pay less and will hopefully give you a solid foundation to find cheaper car insurance in Colorado.
For state and federal workers, one of the more important components that determine the amount you pay each year for auto insurance is where you keep your car. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.
The next table lists the most expensive cities in Colorado for government employees to purchase car insurance in. Colorado Springs ranks #6 with the annual price of $1,316 for the average insured, which is around $110 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Pueblo | $1,440 |
| 2 | Denver | $1,425 |
| 3 | Aurora | $1,403 |
| 4 | Lakewood | $1,378 |
| 5 | Commerce City | $1,328 |
| 6 | Colorado Springs | $1,316 |
| 7 | Thornton | $1,307 |
| 8 | Littleton | $1,306 |
| 9 | Security-Widefield | $1,291 |
| 10 | Northglenn | $1,290 |
| 11 | Ken Caryl | $1,287 |
| 12 | Centennial | $1,278 |
| 13 | Parker | $1,270 |
| 14 | Arvada | $1,256 |
| 15 | Highlands Ranch | $1,241 |
| 16 | Brighton | $1,235 |
| 17 | Westminster | $1,234 |
| 18 | Castle Rock | $1,224 |
| 19 | Boulder | $1,171 |
| 20 | Longmont | $1,168 |
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Prices are estimated as the vehicle garaging location can lower or raise premium rates considerably.
Trying to find affordable auto insurance is not the easiest thing to do, and finding out which companies have the cheapest auto insurance rates for government employees involves even more work.
Each auto insurance company has a unique formula to determine rates, so let’s begin by taking a look at the auto insurance companies that tend to have lower prices in Colorado Springs. It’s a good idea to be aware that Colorado Springs auto insurance rates are determined by lots of factors which can substantially change the price you pay for coverage. This price variability is why drivers need to compare many different companies to get the most affordable car insurance rates for government employees. Auto insurance prices can be determined by many risk factors and can increase or decrease at any time, so the best price six months ago may now be wasting a lot of money.
Find the Best Cheap Insurance in Colorado
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $949 |
| 3 | USAA | $1,009 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,187 |
| 6 | Auto-Owners | $1,192 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,262 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,381 |
| 12 | Allied | $1,483 |
| 13 | California Casualty | $1,488 |
| 14 | Colorado Farm Bureau | $1,576 |
| 15 | Farmers | $1,581 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,738 |
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The Hartford may offer some of the most affordable car insurance rates in Colorado Springs at around $850 each year. Grange, USAA, Nationwide, and GEICO would also be considered some of the cheapest Colorado Springs, CO auto insurance companies.
In the rate table above, if you are insured with Grange and switched to The Hartford, you could see annual savings of in the neighborhood of $99. Insureds with USAA could save as much as $159 a year, and Nationwide insureds might see rate reductions of $259 a year.
To see if you’re overpaying, click here to get a free quote or visit any of the companies below.
It’s important to note that these policy prices are averages across all types of insureds and vehicles and are not factoring in an exact vehicle garaging location for government employees. So the insurer that is best suited for you may not even be in the top 21 companies in the list above. That’s why you need to get auto insurance quotes using your own personal information and vehicle type.
The diagram below illustrates how your choice of deductibles can change insurance costs when quoting cheap insurance for government employees. The premiums assume a married male driver, full physical damage coverage, and no discounts are applied.
The data above shows that a 40-year-old driver could reduce rates by $330 a year by increasing from a $100 deductible up to a $500 deductible, or save $498 by selecting a $1,000 deductible. Youthful drivers, like the Age 20 category, could lower their rates as much as $1,110 every year by using higher deductibles when buying full coverage.
If you do raise deductibles, it will be important to have emergency funds available to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Discounts on Colorado Springs auto insurance
Insurers that offer cheap quotes for government employees may additionally offer rate discounts that could lower prices by as much as 25% or more if you meet specific criteria. A list of auto insurance companies and some of the premium reductions they offer are outlined below.
- GEICO has discounts for air bags, multi-vehicle, military active duty, defensive driver, federal employee, and membership and employees.
- Travelers offers premium reductions for good student, new car, home ownership, multi-car, driver training, hybrid/electric vehicle, and save driver.
- Farm Bureau includes discounts for safe driver, youthful driver, multi-vehicle, renewal discount, multi-policy, 55 and retired, and driver training.
- Liberty Mutual discounts include preferred payment discount, multi-car, newly retired, new vehicle discount, new move discount, teen driver discount, and new graduate.
- American Family may have discounts that include good driver, TimeAway discount, air bags, bundled insurance, early bird, and mySafetyValet.
- Progressive has savings for good student, homeowner, multi-policy, multi-vehicle, and online quote discount.
The chart below compares insurance costs with and without some available policy discounts. The rates are based on a male driver, no violations or claims, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with passive restraint, vehicle safety, defensive driving course, safe-driver, accident-free, and claim-free discounts applied. When drivers qualify for the discounts, the average savings per year on auto insurance for government employees is 28% or $458.
Your low-price policy may be costing you money
Colorado Springs auto insurance rates are determined by lots of factors that control the price you pay. Improving your credit rating, moving to a different location, or having a fender bender can produce rate changes that can make some companies more affordable than the competition. And not only may your rating factors change, but insurance companies file new Colorado car insurance rates every year in order to protect their financial rating. Heavier than normal losses may result in high rates, while lower claim expenses may result in lower-priced Colorado Springs car insurance rates.
For example, the bar chart below shows the company with the cheapest car insurance in Colorado Springs, CO for a 35-year-old male driver with a clean driving record, no accidents, and good financial standing. If we compare prices based on his current risk profile, The Hartford offers the lowest car insurance rates in Colorado Springs at $991 annually. This is $587 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners round out the rest of the best Colorado Springs, CO auto insurance companies.
In this example, we will give the driver from above an accident surcharge, a lower credit rating, and a speeding ticket. Due to the fact that every insurance company has their own formula for determining rates, getting updated rate quotes could result in a substantially altered list of affordable companies as shown below.
GEICO now has the cheapest price in Colorado Springs, CO with State Farm, American Family, Progressive, and Amica also being competitive. This demonstrates why drivers need to perform an extensive rate comparison to find the most budget-friendly auto insurance quotes for government employees. Car insurance prices can be altered by many risk factors and change frequently, so the best option the last time you compared rates may now not even be in the top five.