Comparing quotes for reasonably-priced insurance is confusing at best, and determining which companies quote the most affordable car insurance rates for state employees may require even more rate comparisons. Every car insurance company has a proprietary formula to set policy rates, so first let’s look at the rankings for the most affordable car insurance companies in Colorado Springs, CO.
Keep in mind that Colorado Springs car insurance rates are impacted by many things which can significantly increase or decrease the policy premium. This is why it is important to take the time to shop around when trying to get the most economical insurance rates for state employees. Insurance prices are made up of many risk factors and can increase or decrease at any time, so the best price the last time you shopped your coverage around may now be quite expensive.
Find the Best Cheap Insurance in Colorado
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $859 |
| 2 | Grange | $987 |
| 3 | USAA | $1,039 |
| 4 | GEICO | $1,141 |
| 5 | Nationwide | $1,155 |
| 6 | Auto-Owners | $1,168 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,376 |
| 11 | Amica | $1,394 |
| 12 | California Casualty | $1,444 |
| 13 | Allied | $1,483 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,866 |
| 17 | Allstate | $2,055 |
| 18 | Encompass | $2,253 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,657 |
| Get Personalized Rates Go | ||
The Hartford may have some of the best car insurance rates in Colorado Springs at around $859 each year. Grange, USAA, GEICO, and Nationwide would also make the list of some of the cheapest Colorado Springs, CO car insurance companies.
As the rates illustrate above, if you currently buy coverage from Grange and switched to The Hartford, you might achieve an annual premium reduction of in the vicinity of $128. Policyholders with USAA may save as much as $180 a year, and GEICO insureds might see rate reductions of $282 a year.
Remember that these policy rates are averaged across all drivers and vehicles and do not take into consideration a specific zip code for state employees. So the auto insurance company that fits you best may not even be in the top 21 companies shown above. That points out the importance of why you need to quote rates from many companies using your own specific driver information and vehicle.
The vehicle model requiring coverage is a significant factor when quoting the most affordable insurance for state employees. Vehicles with lots of horsepower, poor safety features, or an increased likelihood of liability claims will cost significantly more to insure than more economical and safe models.
The next table estimates coverage premiums for a handful of the most economical vehicles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $1,149 |
| Ford Escape Limited 4WD | $1,248 |
| Honda CR-V EX-L 4WD | $1,289 |
| Ford Focus SE 4-Dr Sedan | $1,335 |
| Hyundai Elantra SE Touring Station Wagon | $1,371 |
| Toyota Prius | $1,400 |
| Ford Edge SE 2WD | $1,432 |
| Chevrolet Impala LS | $1,461 |
| Honda Odyssey EX | $1,467 |
| Volkswagen Jetta SEL 4-Dr Sedan | $1,463 |
| Jeep Grand Cherokee Limited 4WD | $1,471 |
| Dodge Grand Caravan SE | $1,466 |
| Dodge Ram Quad Cab TRX4 Off Road 2WD | $1,485 |
| Toyota Tacoma Double Cab 4WD | $1,492 |
| Toyota Camry LE | $1,497 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,502 |
| Honda Civic SI 4-Dr Sedan | $1,509 |
| Start Your Quote Go | |
Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Premium costs do not factor in Colorado Springs, CO location which can affect auto insurance rates significantly.
Based on these rates, vehicles like the Honda Accord, Ford Escape, and Honda CR-V are likely to be the more affordable vehicles to insure for state workers.
Discount Colorado Springs insurance rates
Insurance companies that provide policies for state employees may have special discounts that can reduce rates by as much as 25% or more if you meet specific criteria. The best car insurance companies and some of the discounts can be found below.
- GEICO may include discounts for defensive driver, anti-lock brakes, membership and employees, anti-theft, and daytime running lights.
- Travelers discounts include save driver, good student, student away at school, continuous insurance, and IntelliDrive.
- Nationwide may offer discounts for anti-theft, family plan, Farm Bureau membership, multi-policy, easy pay, good student, and accident-free.
- Farmers Insurance offers discounts for early shopping, multi-car, bundle discounts, mature driver, youthful driver, distant student, and switch companies.
- Esurance offers discounts including good student, Switch & Save, emergency road assistance, claim free, renters, multi-policy, and good driver.
- State Farm has discounts for multiple policy, multiple autos, good student, accident-free, and safe vehicle.
- Progressive includes discounts for good student, online signing, multi-vehicle, homeowner, continuous coverage, and multi-policy.
- Mercury Insurance offers premium reductions for low natural disaster claims, multi-policy, anti-theft, accident-free, and type of vehicle.
The example below visualizes the comparison of yearly insurance costs with and without discounts applied to the rates. The premiums are based on a male driver, no violations or claims, Colorado state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with vehicle safety, anti-theft, safe-driver, accident-free, multiple vehicle, and homeowner discounts applied. When discounts are applied, theamount saved on car insurance for state employees is 28% or $557.
Should you buy full coverage?
Saving money when shopping for car insurance is probably important to the majority of drivers, and one easy way to buy cheaper insurance for state employees is to not pay for full coverage. The information below visualizes the comparison of auto insurance rates with full coverage and liability only. The rate quotes are based on no claims or driving citations, $1,000 deductibles, single status, and no discounts are taken into consideration.
As an overall average, physical damage coverage on your policy costs $1,967 per year more than just insuring for liability. At some point, almost every driver questions when is the right time to remove full coverage. There is no definitive rule of when to stop paying for physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $9,000 after you pay the deductible. If premiums are more than $900 a year for comprehensive and collision coverage, then you might consider buying liability only.
There are a few cases where removing full coverage is not recommended. If you haven’t paid off your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage.
Don’t stick with an overpriced policy
Colorado Springs, CO car insurance rates are determined by lots of factors which can substantially change the policy price. Simply turning a year older, increasing deductibles, or getting into an accident can trigger changes in premium that may make certain companies more affordable than competitors.
Not only that, but car insurance companies file new Colorado car insurance rates as often as every three months to ensure their profitability. Higher than normal claims may result in increased policy costs, while a profitable period may produce more affordable Colorado Springs car insurance rates.
The graph below shows rates for the cheapest car insurance in Colorado Springs, CO for a 30-year-old male driver with no accidents or violations, and solid credit. If we compare prices based on his current rating profile, The Hartford might offer the most affordable car insurance rates in Colorado Springs at $1,008 per year. This is $570 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers are also on the list of the best Colorado Springs, CO auto insurance companies.
Now we will give the driver from the first set of rates a couple of claims, a little lower credit rating, and a speeding ticket. Since every insurance provider has their own unique process to set policy rates, getting updated rate quotes most likely will result in a new list of affordable Colorado Springs car insurance companies as shown below.
Auto-Owners now has the best price in Colorado Springs, CO with State Farm, American Family, Progressive, and Amica completing the list. This example demonstrates why consumers need to spend some time comparing rates to get the lowest auto insurance quotes for state employees.
Car insurance prices are made up of many things and change frequently, so the cheapest option when you last compared rates may now be one of the higher cost companies.
How to find the cheapest insurance for state employees
Lowering your rates is not difficult, and here are many thrifty suggestions that can help drivers locate low-cost car insurance.
- Drivers with good credit ratings often pay less
- Try paying for small claims out-of-pocket
- Do not get tickets or violations
- At-fault accidents will increase rates
- Buy vehicles with five-star safety ratings
- Shop around for cheaper prices
The last tip is remarkably crucial, as we hit on in the article above. Prices charged by car insurance companies can be adjusted at any time, so don’t be tentative to buy a different policy if you find a cheaper price.
Staying with the same car insurance company is fine, but is isn’t recommended if that dedication is costing hundreds of dollars a year. In just a few minutes you could shop around and find cheaper car insurance for state employees in Colorado Springs.