This would be a much shorter article if we could tell you the one auto insurance company that has the most affordable coverage in Colorado. It’s not that easy, however, as there are a lot of unknown elements such as the annual mileage you drive, if you are a homeowner, the amount of liability insurance you need, and the likelihood of vehicle theft where you live, that all impact the cost of your policy. The content below covers the best ways to save money and educate you enough to have a good beginning to your search for cheaper coverage.
The car, truck, or SUV you are seeking coverage for is probably the biggest factor when shopping around for affordable coverage for first-time drivers. Vehicles with economical engines, good safety features, or a positive history of liability claims will cost quite a bit less to insure than higher performance models. The list below ranks insurance rates for a number of the more affordable vehicles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $4,583 |
| Honda CR-V EX-L 2WD | $4,632 |
| Ford Escape Limited 2WD | $4,640 |
| Toyota Prius | $4,980 |
| Dodge Grand Caravan SE | $5,138 |
| Ford F-150 FX2 Super Cab 2WD | $5,147 |
| Volkswagen Jetta SE 2.5 Station Wagon | $5,278 |
| Ford Edge Limited 2WD | $5,391 |
| Ford Focus SE 4-Dr Sedan | $5,400 |
| Honda Civic DX 4-Dr Sedan | $5,391 |
| Chevrolet Malibu LS | $5,439 |
| Nissan Altima 2.5 4-Dr Sedan | $5,444 |
| Jeep Grand Cherokee Laredo 2WD | $5,439 |
| Chevrolet Equinox LS AWD | $5,445 |
| Toyota RAV4 Limited 2WD | $5,439 |
| Chevrolet Impala LT | $5,447 |
| Ford Explorer Limited 2WD | $5,487 |
| Honda Odyssey EX-L | $5,737 |
| Toyota Corolla XLE | $5,747 |
| Toyota Tacoma X-Runner 2WD | $5,737 |
| Ford Fusion Sport 4-Dr Sedan | $5,785 |
| GMC Sierra SLE Regular Cab 4WD | $5,791 |
| Nissan Rogue S 2WD | $5,876 |
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Prices above based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Price information does not factor in vehicle location which can modify price quotes significantly.
By looking at the data, cars like the Hyundai Elantra, Honda CR-V, and Ford Escape are most likely going to be some of the most economical vehicles to insure for new drivers. The price for car insurance will tend to be higher because of the fact that there is more liability risk for first-time drivers, but in general those vehicles will probably have the best rates compared to other vehicles.
For new drivers, one of the more important considerations that determine car insurance rates is where you live. More densely populated places tend to have more expensive car insurance rates, whereas areas with less congestion have the gratification of cheaper auto insurance rates.
The illustration below lists the highest-priced places in Colorado for first-time drivers to purchase auto insurance in. Colorado Springs ranks #7 with a yearly cost of $1,316 for the average policyholder, which is about $110 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Denver | $1,439 |
| 2 | Aurora | $1,403 |
| 3 | Pueblo | $1,397 |
| 4 | Commerce City | $1,328 |
| 5 | Ken Caryl | $1,326 |
| 6 | Lakewood | $1,324 |
| 7 | Colorado Springs | $1,316 |
| 8 | Arvada | $1,308 |
| 9 | Security-Widefield | $1,304 |
| 10 | Northglenn | $1,290 |
| 11 | Westminster | $1,284 |
| 12 | Thornton | $1,281 |
| 13 | Centennial | $1,278 |
| 14 | Brighton | $1,273 |
| 15 | Highlands Ranch | $1,267 |
| 16 | Littleton | $1,267 |
| 17 | Parker | $1,257 |
| 18 | Broomfield | $1,215 |
| 19 | Castle Rock | $1,211 |
| 20 | Boulder | $1,195 |
| 21 | Longmont | $1,144 |
| 22 | Grand Junction | $1,120 |
| 23 | Greeley | $1,110 |
| 24 | Fort Collins | $1,067 |
| 25 | Loveland | $1,063 |
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Prices are estimated as zip code location can decrease or increase price quotes greatly.
Trying to find reasonably-priced car insurance is hard enough, and figuring out which company offers the cheapest insurance rates for first-time drivers involves even more rate comparisons. Each insurance company uses their own calculation for setting rates, so first let’s look at the rankings for the most affordable insurance companies in Colorado.
It’s important to know that Colorado insurance rates are based on many factors that can increase the cost of a policy. Simply improving your credit, buying another vehicle, or getting a reckless driving citation may prompt premium changes resulting in some rates now being more affordable than others.
Best Cheap Insurance Rates for Inexperienced Drivers
The Hartford generally has some of the lowest car insurance rates in Colorado Springs at around $825 a year. This is $753 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide would also be considered some of the cheaper Colorado Springs, CO insurance companies.
As shown above, if you are insured with USAA and switched to The Hartford, you could see a yearly price reduction of in the neighborhood of $214. Insureds with GEICO could save as much as $327 a year, and Nationwide insureds might see rate reductions of $330 a year.
To find the cheapest rates for your vehicle, click here to start your free quote or feel free to get quotes from the companies below.
Understand that those estimates are averages across all drivers and vehicles in Colorado and and are not figured with an exact zip code location for first-time drivers. So the car insurance company that is most affordable for your situation may not even be in the list above. That points out the importance of why you need to get rate quotes using your own personalized driver profile and vehicle information.
The information below demonstrates how deductibles can raise or lower insurance costs when trying to find cheap insurance for first-time drivers. The premiums are based on a single male driver, comp and collision included, and no discounts are factored in.
The chart above illustrates that a 40-year-old driver could save $390 a year by switching from a $100 deductible up to a $500 deductible, or save $586 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, could save as much as $1,304 or more just by choosing higher deductibles when buying full coverage.
When using a larger deductible, it’s a good idea to have enough in a savings account to offset the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Types of discounts on Colorado Springs car insurance rates
Insurance companies that provide policies for first-time drivers may also offer discounts that could reduce prices by as much as 25% or more if you meet specific criteria. Popular insurance companies and some of the discounts are included below.
- State Farm offers discounts including accident-free, multiple autos, safe vehicle, anti-theft, defensive driving training, and multiple policy.
- Progressive may include discounts for multi-policy, multi-vehicle, continuous coverage, good student, online quote discount, online signing, and homeowner.
- Travelers has savings for save driver, multi-car, new car, IntelliDrive, continuous insurance, student away at school, and hybrid/electric vehicle.
- American Family policyholders can earn discounts including Steer into Savings, TimeAway discount, good student, good driver, defensive driver, and bundled insurance.
- Liberty Mutual has discounts for preferred payment discount, new vehicle discount, new move discount, multi-car, and new graduate.
The diagram below shows the comparison of insurance rates with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no tickets, no at-fault accidents, Colorado state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with good student, anti-theft, passive restraint, paid-in-full, paperless filing, and vehicle safety discounts applied. With discounts applied, the average savings per year on insurance for first-time drivers is 28% or $710.
The agencies below can most likely aid you in deciding which car insurance policy is best, since lots of people like to get some help when shopping for cheaper insurance for first-time drivers. It’s not always simple to find the cheapest rates, so insurance agents licensed in the state of Colorado can give comfort knowing your coverage gives you adequate coverage if you have an accident or claim. To find a Colorado Springs insurance agency close to where you live, click the button at the bottom of the list.
- American Family Insurance – Ed Reed
202 E Cheyenne Mountain Blvd k – Colorado Springs, CO 80906 – (719) 540-8400 - American Family Insurance – Steve Stiltner
4549 Austin Bluffs Pkwy – Colorado Springs, CO 80918 – (719) 596-8812 - Insurance Stops
2105 E Bijou St A – Colorado Springs, CO 80909 – (719) 636-3369 - CIA-Leavitt Insurance Agency
5585 Erindale Dr #107 – Colorado Springs, CO 80918 – (719) 528-1884
More Colorado Springs, CO insurance agents
How to find more affordable car insurance for first-time drivers
It is possible to find better rates, and here are many money-saving ideas that can help Colorado drivers buy low-cost coverage.
- Lower rates by purchasing a safer vehicle
- If your vehicles are older, consider dropping full coverage
- Save money by obeying traffic laws and keeping a clean driving record
- Buying car and homeowners insurance together can save money
- Do not file small claims
- Staying accident-free helps keep rates low
- Shop around for cheaper prices
That last tip is particularly valuable, as was affirmed in the prior article. Prices fluctuate constantly, so don’t be tentative to buy from a new company if a lower-cost policy is available.
Having a favorite company is fine, but it’s not a good idea if that dedication is costing a lot of money. If you have a few minutes, compare prices to find cheaper insurance for first-time drivers in Colorado Springs.