One of the more important considerations that help determine the amount you pay each year for auto insurance is where you live in Colorado Springs. Larger areas are more likely to have higher rates, whereas areas with less congestion tend to receive cheaper rates.
The illustration below ranks the most costly cities in Colorado for hybrid vehicles in which to buy car insurance. Colorado Springs is ranked at #7 with an annual rate of $1,329 on average, which is about $111 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Aurora | $1,403 |
| 3 | Denver | $1,397 |
| 4 | Commerce City | $1,354 |
| 5 | Northglenn | $1,342 |
| 6 | Lakewood | $1,337 |
| 7 | Colorado Springs | $1,329 |
| 8 | Thornton | $1,307 |
| 9 | Security-Widefield | $1,291 |
| 10 | Brighton | $1,285 |
| 11 | Ken Caryl | $1,274 |
| 12 | Westminster | $1,272 |
| 13 | Parker | $1,270 |
| 14 | Littleton | $1,267 |
| 15 | Centennial | $1,265 |
| 16 | Arvada | $1,256 |
| 17 | Castle Rock | $1,248 |
| 18 | Highlands Ranch | $1,229 |
| 19 | Boulder | $1,207 |
| 20 | Broomfield | $1,203 |
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Annual rates are comparative as the specific geographic location can impact premium rates considerably.
Comparing rates for reasonably-priced auto insurance is easier said than done, and deciding which company offers the cheapest car insurance rates for hybrid vehicles calls for more quotes for comparison. Every car insurance company has their own formula for filing rates in each state, so we’ll take a look at the most competitive car insurance companies in Colorado Springs.
Best Auto Insurance Prices for Hybrids
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $949 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,121 |
| 5 | Travelers | $1,183 |
| 6 | GEICO | $1,187 |
| 7 | Auto-Owners | $1,204 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,376 |
| 11 | Amica | $1,394 |
| 12 | Allied | $1,483 |
| 13 | California Casualty | $1,488 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,576 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,076 |
| 18 | Encompass | $2,253 |
| 19 | Safeco | $2,522 |
| 20 | Titan | $2,711 |
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The Hartford quotes some of the cheapest car insurance rates in Colorado Springs at around $834 each year. Grange, USAA, Nationwide, and Travelers also make the cut as some of the more affordable Colorado Springs, CO auto insurance companies.
In this example, if you currently have coverage with Grange and switched to The Hartford, you might achieve an annual premium reduction of around $115. Drivers with USAA could save as much as $165 a year, and Nationwide insureds might see rate reductions of $287 a year.
To find cheaper insurance rates for your vehicle, click here to begin a quote or click several companies below for low rates.
Be aware that those policy rates are averages for all types of drivers and the different vehicles they drive and do not factor in a specific location for hybrid vehicles. So the car insurance company that can offer you the best rate may not even be in the top 21 companies shown above. That points out the importance of why you need to get rate quotes from many companies using your own specific driver information and vehicle.
How much more does full coverage cost in Colorado Springs?
Reducing premiums for car insurance is probably important to the majority of drivers, and one easy way to pay less for insurance for hybrid vehicles is to not buy full coverage. The diagram below illustrates the difference between insurance prices with full coverage compared to only the Colorado minimum liability coverage. Data assumes no claims or driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.
If the expense is averaged for all age categories, comp and collision coverage costs $2,013 per year over liability only. Many drivers will wonder if paying for full coverage is a waste of money. There isn’t a written rule to stop buying physical damage coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.
The illustration below illustrates how choosing a deductible can raise or lower insurance premiums when getting quotes for cheap insurance for hybrid vehicles. The premiums assume a single male driver, comp and collision included, and no policy discounts are applied.
A 40-year-old driver could pocket $402 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $606 by changing to a $1,000 deductible. Youthful drivers, like the 20-year-old example, could shave up to $1,332 each year just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is necessary to have additional funds squirreled away to be able to pay the extra out-of-pocket expense associated with higher deductibles.
Best car insurance company in Colorado
Picking a high-quality insurer can be a challenge considering how many choices there are in Colorado. The information in the lists below may help you select which insurers you want to consider comparing price quotes from.
These rankings include large insurance companies, so smaller regional companies are not taken into consideration for this list. If you wish to compare prices from many more Colorado auto insurance companies, click here.
| 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 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
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Data Source: Insure.com Best Car Insurance Companies
The importance of shopping around
Colorado Springs car insurance rates are based on many factors that control the price you pay. Improving your credit score, becoming a homeowner, or getting a couple of tickets can trigger rate changes that can cause some rates to be cheaper in comparison to the competition. In addition to those changes, companies amend premium rates at least once a year to reflect underwriting profits or losses. Significantly higher claims may result in rate increases, while lower claims can result in more affordable Colorado Springs car insurance rates.
The graph below shows rates for the cheapest car insurance in Colorado Springs, CO for a 45-year-old female driver with a good driving record, no prior claims, and solid credit. When quoting prices based on her personal profile, The Hartford might quote the best car insurance rates in Colorado Springs at $1,012 per year. This is $566 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also make the list of the cheapest Colorado Springs, CO auto insurance companies.
The chart below compares rates after we give the driver from the above example an accident claim, poor credit, and a couple of points charged on her driving record. Because each company has a proprietary formula for setting rates, getting updated rate quotes could result in a different list of the cheapest car insurance companies in Colorado Springs as shown below.
Travelers now has the cheapest price in Colorado Springs with State Farm, American Family, Grange, and Amica also being competitive. This demonstrates why it is so important to shop around to find the lowest auto insurance rates for hybrid vehicles.
Insurance rates are calculated by many factors and can increase or decrease at any time, so the most economical company the last time you shopped around may now be quite expensive.