Which Company Has the Lowest Cost of Car Insurance in Colorado Springs?

Colorado Springs is a large city in the state of Colorado. With its many large highways and freeways, and only a bus system for public transport, it’s quickly evident that the fastest, most convenient way to get from one side of the city to another is to own a vehicle. The city’s population is 478,474. Residents who drive to work have an average travel time of 22.3 minutes. If families or drivers want to go to a recreational area or school, having a vehicle makes getting there much easier.

There are also some huge highways, with multiple lanes per side, increasing the risk of accidents. The numbers when it comes to vehicle theft this is also somewhat high—3,039 in 2018. This put Colorado Springs at #37 for thefts that year, making the rate of theft 411.27 per 100k residents.

While many single-unit homes have garages, many only have car ports to protect their vehicles from the occasional hailstorm. When vehicle owners aren’t fortunate enough to have a garage, they have to take the risk of parking their vehicles in a car port or the driveway, making them susceptible to theft or vandalism.

All of this can mean that your insurance rate may be adversely affected. They go up in response to high drive times and increased vehicle theft, leading to vehicle owners paying more for their coverage. Again, because insurance coverage is required, everyone is looking for a good, affordable plan.

What is Required for Colorado Springs Drivers?

Colorado requires drivers to obtain a minimum amount of coverage for their vehicles. In addition, if you are making loan payments for your vehicle, your bank or loan company may require that you carry comprehensive coverage on your vehicle. This protects the lender in the event of an accident, theft, or damages to another driver’s vehicle in an accident.

Colorado’s minimum insurance requires drivers to hold liability coverage equaling $25,000 for bodily injury for an individual, $50,000 for bodily injury for multiple persons, and $15,000 to cover property damage.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Colorado Springs by Insurer

Colorado Springs is in the happy position of being a less expensive city for car insurance than either Denver or Aurora, CO. However, that doesn’t mean that insurance here is cheap. It’s still a large city and living in a city pretty much always mean you’ll be paying more for car insurance. However, that doesn’t mean you can’t find a better deal by shopping around. Every insurance provider uses a different algorithm to decide how much your premium will be.

Compare all car insurance company rates near you here.

Low Cost Auto Insurance for Bad Credit in Colorado Springs

Bad credit can make it harder for you to find an affordable insurance plan. Colorado is not one of the few states that do not allow insurance companies to use your credit score when they decide what premium you will pay for your insurance, so you should definitely spend some extra time looking for a deal if your credit score isn’t stellar. Some insurance companies do provide less expensive insurance coverage for drivers with bad credit.

Check out this bad credit guide to help get lower auto insurance rates.

What is the Difference Between Full Coverage and Liability?

What is Liability Only Insurance Coverage?

Liability-only coverage means that you are only paying to cover the cost of damage that you do to other people and their property in the event you are at fault in an accident. It covers the costs of medical bills for people you injure or repair costs for property you damage.

It is a good idea to carry more liability insurance than these minimum amounts required by the state of colorado because you will be personally financially liable if you are in an accident and cause more damage to people or property than the state’s minimum required coverage levels.

What is Full Coverage Car Insurance?

Full coverage insurance not only covers the cost of the people and things you might harm when you are in an accident that is your fault. It also covers the cost of any repairs that your property or vehicle might need if you are in an accident that is your fault.

There are two main types of coverage beyond liability coverage:

Collision – This type of insurance covers the cost of repairs to your vehicle or your property that you might damage in an accident in which you are at fault.

Comprehensive – This type of insurance covers the repair costs for your vehicle when one of those unusual things happen that are outside of your control, like weather-related damage to your vehicle, theft, vandalism, and deer stepping in front of your vehicle as you drive.

Key Differences Between Full Coverage and Liability Only

Liability coverage kicks in when you back up and hit a kid on a skateboard you did not see. It will also pay for a gate you run into and damage.

Collision insurance pays out when you back into a large rock at a campground, denting your pickup’s tailgate. It will pay to get the tailgate repaired.

Comprehensive coverage will pay for the repair costs when something flies out of the back of a semi-truck and you end up with a cracked windshield.

Average Annual Car Insurance Rates in Colorado by City

Additional cities in Colorado you can check out.


Fort Collins


Tips to Get a Cheaper Car Insurance Rate

The following auto insurance discounts can be used to help lower your premiums in Colorado Springs:

  • Raise your deductible

    If you are willing to pay more money for a deductible, in the event of an accident, then you can lower your insurance rates substantially. You can lower your premium to around 10% just by raising your deductible to around $1,000.

  • Drop Collision Coverage on Old Cars

    Dropping collision coverage on older cars can really help save you a lot, especially for cars that are more than ten years old and only worth four or five thousand dollars. Think about it, if you have an accident while driving an older car, are you really going to pay to repair it or just buy a new car?

  • Check Insurance Rates for Your Car’s Make and Model

    The make and model of your car can make a big difference in how much you pay for auto insurance. Therefore, before purchasing a new car, be sure and check the insurance rates for it as some can be much higher than others.

  • Shop Around to Check Rates from Numerous Insurance Companies

    The chart in this article should be enough proof to know that there can be a big difference in what various insurance companies charge for auto insurance. That is why it is a good idea to check rates from a number of insurance companies before deciding which plan to choose.

  • Drive Fewer Miles

    One of the questions asked when applying for auto insurance rates, is how many miles you drive regularly. This is because the more miles you drive, the more risk you are to the insurance company and the higher your insurance cost will be. Try to drive fewer miles, if possible, to save more money on your premiums.

  • Maintain a Good driving record

    Being a safe driver can not only save your life, but it can also save you a lot of money, too. There is a big difference in how much people with accidents on their record have to pay, and what those without any accidents pay. Therefore, always drive safely.

  • Live in a less populated area

    Your location matters when it comes to auto insurance rates. If you live in a highly populated area, your rates will be higher than if you live in a lower-population area. The Jefferson and New Orleans areas have some of the highest rates in Louisiana, but if you live just 30 minutes outside of the city, you can expect your rates to go down.

Not sure which discounts you may qualify for, consult this guide to learn more.

Colorado Springs CO Car Insurance Premiums Cost – What Affects Your Rates?

Insurance companies factor in many variables when determining your automobile insurance rate. They look at your age, type of car, marital status, gender, and driving record, among other factors. Age is a factor because actuaries have found that older drivers tend to be safer drivers, whether due to experience or caution.

Your type of car is also important. For instance, cherry red convertible sports cars in particular might have the highest insurance rates. On this note, be aware that you might pay a lower premium for driving the sedan version of a sporty, high-horsepower vehicle. Still, what matters most is how you drive your hot-hatch or family wagon.

That’s because your driving record is perhaps the biggest single factor in your insurance rate. It is certainly the one that you have the most control over. That is, the longer you can maintain an incident-free driving record, the lower your rates are sure to be. Incidents can be anything from a minor speeding ticket to a reckless driving charge to being at-fault in a major automobile accident.

Find the best insurance rates with tickets and accidents using this guide.

Helpful Colorado Springs, Colorado Vehicle Resources:

Live Traffic Accidents by City

DMV (Find Locations, Vehicle Registration, Titles and Insurance Info)


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