Finding affordable coverage for a Honda CR-V is usually pretty straightforward, but it hinges on an enormous amount of factors such as your birth date, the condition of your credit, and your driving record. Drivers in Colorado will pay on average $813 each year to insure their CR-V, but that amount is a valuation calculated using a 30-year-old single male driver with full comprehensive and collision coverage and $1,000 deductibles.
There is a good probability you’re not a 30-year-old male, married instead of single, or maybe your CR-V is old enough that it doesn’t require full coverage. Even a slight change in rating criteria can result in a big discrepancy in the cost of insurance for a Honda CR-V.
Auto insurance is not the same for everyone, so the only way to find the cheapest coverage for your Honda is to compare as many rates as possible.
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The trim level of your vehicle impacts the coverage cost, so the price you will be charged to insure a CR-V LX 2WD trim level will be $26 cheaper than the cost to insure the more costly CR-V EX-L 4WD model, as shown below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CR-V LX 2WD | $166 | $236 | $392 | $24 | $118 | $936 | $78 |
| CR-V EX 2WD | $166 | $236 | $392 | $24 | $118 | $936 | $78 |
| CR-V LX 4WD | $166 | $236 | $392 | $24 | $118 | $936 | $78 |
| CR-V EX 4WD | $192 | $236 | $392 | $24 | $118 | $962 | $80 |
| CR-V EX-L 2WD | $192 | $236 | $392 | $24 | $118 | $962 | $80 |
| CR-V EX-L 4WD | $192 | $236 | $392 | $24 | $118 | $962 | $80 |
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rates do not factor in garaging location in Colorado Springs which can impact insurance rates noticeably.
Ending up with the top insurance company can be a challenge considering how many choices you have in Colorado Springs. The company information below could help you analyze which auto insurers to look at when trying to find the cheapest insurance for a Honda CR-V.
These rankings are for the largest auto insurers in America, so companies that have a smaller presence are not factored into these rankings. If you’d like to compare prices from these companies and more, click this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
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Data Source: Insure.com Best Car Insurance Companies
Impact of violations and accidents on rates in Colorado Springs
In a perfect world, the ideal way to enjoy low car insurance rates for a CR-V is to drive cautiously and have a clean driving record. The illustration below illustrates how speeding tickets and at-fault fender-benders increase insurance costs for each different age category. Data assumes a single female driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
In the chart above, the average cost of auto insurance per year with no accidents or violations is $1,578. Get one speeding ticket and the average cost surges to $1,789, an increase of $211 each year. Now add in two accidents along with the one speeding ticket and the yearly cost of car insurance for a Honda CR-V increases to an average of $3,683. That’s an increase of $2,106, or $175 per month, just for not driving attentively!
Difference between liability only and full coverage rates
Saving money when shopping for car insurance should be important to most people, and one common way to pay lower rates for insurance for a Honda CR-V is to buy only liability coverage. The illustration below shows the comparison of insurance rates with full coverage compared to only the Colorado minimum liability coverage. The prices are based on no claims or driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.
If we average the cost for all age groups, full coverage costs $2,061 per year more than just insuring for liability. That proposes the question if physical damage coverage is worth the money. There is no clear-cut rule for eliminating physical damage coverage, but there is a general guideline you can use. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
Your low-price policy may be costing you money
Colorado car insurance rates are influenced by many factors which can substantially change the cost of a policy. Improving your credit rating, moving to a new city, or getting caught speeding may generate price changes resulting in some rates now being more affordable than others. Also, insurance companies modify pricing as needed to ensure their profitability. An unexpected high level of claims may cause more expensive premiums, while profitable underwriting may result in cheaper CR-V insurance rates.
The data below shows the company with the cheapest car insurance in Colorado Springs, CO for a 40-year-old female driver with a clear driving record, no claims, and solid credit. When quoting prices based on her personal risk profile, The Hartford may offer the lowest car insurance rates in Colorado Springs at $1,031 a year. This is $547 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are the remainder of the cheapest Colorado Springs, CO auto insurance companies.
Now we will give the driver from the first rate comparison a claim, less-than-perfect credit, and a traffic ticket or two. Because each company has a unique approach to determining premium rates, comparing rates could now result in a new list of companies as shown below.
GEICO now has the cheapest car insurance in Colorado Springs with State Farm, American Family, Grange, and Progressive now being in the top five. This example illustrates why it is crucial to spend some time comparing rates when trying to find affordable insurance rates for a Honda CR-V.
Car insurance prices can be determined by many different factors and can decrease or increase without notice, so the lowest-price company the last time you checked may now be quite expensive.
How to find more affordable car insurance for a Honda CR-V
It is possible to find better rates, and here are many penny-pinching ideas that can help Colorado Springs drivers quote low-cost auto insurance.
- Drivers with good credit ratings often pay less
- Don’t waste money on full coverage for older vehicles
- Higher physical damage deductibles lower rates
- Home or renters coverage can save on auto insurance
- Try to not file small claims
- Buy vehicles with good safety ratings
- Keep rates low by shopping around frequently
The last tip is remarkably important, as was emphasized in this article. Coverage rates can change considerably based on profitability, so don’t hesitate to switch carriers if you can find a cheaper rate. Brand loyalty is great, but it isn’t a good idea if that inflexibility results in costing you a lot of money. Now is a great time to compare rates to find cheaper auto insurance for a Honda CR-V in Colorado Springs.