Colorado Springs car insurance costs an average of $1,407 per year, 3% less than the state average of $1,450. The cheapest widely available insurer for the average driver is GEICO, at $858. MoneyGeek also ranked the cheapest providers based on different driving profiles and coverage levels. Drivers that wish to balance affordability with quality service can find the best options using MoneyGeek’s scores.
Compare the Cheapest Car Insurance Quotes in Colorado Springs, CO
The Cheapest and Best Car Insurance in Colorado Springs
The Cheapest Car Insurance Companies in Colorado Springs
The most affordable insurers for full coverage car insurance in Colorado Springs are:
- USAA: $705 per year (only available to current and former military members)
- GEICO: $858 per year
The costs indicated above represent car insurance prices for a 40-year-old sample male driver with a full coverage policy. The policy has comprehensive and collision insurance that covers damages to the driver’s own car, in addition to liability coverage.
Scroll for more
Average Cost of Car Insurance in Colorado Springs
The average car insurance in Colorado Springs is $1,407 annually, which is 3% less than the $1,450 average in the state of Colorado. Drivers in this city also pay 1.2% less than the average annual premium in the United States. The national average annual premium is $1,424.
The Best Car Insurance Companies in Colorado Springs
For Colorado Springs drivers looking to balance affordability with exceptional service, MoneyGeek ranked the best companies using several criteria, including affordability, financial stability and customer satisfaction metrics from J.D. Power.
As per MoneyGeek’s research, the best insurers in the city for most drivers are:
- State Farm: MoneyGeek score of 90 out of 100
- GEICO: MoneyGeek score of 90 out of 100
USAA received the highest score in Colorado Springs by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
Personalized Quotes to Get You the Cheapest Car Insurance in Colorado Springs
Car insurance companies in Colorado Springs determine quotes based on several factors, such as the person's age, gender, car make and model, driving history, credit score and ZIP code, among other factors. Any changes in your specific circumstances can affect the cost of your annual auto insurance premium.
For example, the average annual premium from GEICO for a 40-year-old male is $858. A similar policy for an 18-year-old male is $3,165 — $2,307 more than what the 40-year-old male pays. Comparing personalized quotes regularly can help you find out if you are qualified for certain rebates or discounts.
Shopping around for car insurance in Colorado Springs could save you $549, which is enough to buy:
Cheapest Car Insurance in Colorado Springs by Coverage Amount
For all Colorado cities, the cost of car insurance depends on how much coverage you purchase from your insurer. The cheapest insurance is the minimum liability policy, which costs an average of $776 per year. While a full coverage policy provides higher limits, it costs $631 more on average.
Colorado Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $15,000 for property damage. A more protective level is 100/300/100.
Auto insurance companies write plans to express the limitations of each type and level of coverage. For example, GEICO offers the state minimum liability, $354. The plan includes $25,000 for bodily injury or the death of an individual in an accident, $50,000 for bodily injuries or death to all people involved in an accident and $15,000 for property damage per accident.
GEICO also offers 50/100/50 liability-only and full-coverage plans, which cover $50,000 worth of medical bills, with $100,000 total per accident and $500,000 for property damage liability. A liability-only plan is generally cheaper than a full-coverage plan. If you are looking for a company that offers the smallest price difference between those two options, then you may want to consider Allstate. Its 50/100/50 liability only is close in cost to their premium for full coverage. If you are looking for a more comprehensive full-coverage plan, then the 100/300/100 plan may be right for you. The cheapest option for this coverage is from USAA at $705. GEICO comes in second at $858.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in Colorado Springs if You Have Driving Violations
Having a clean driving history can also help you get cheap car insurance in Colorado Springs. Generally, drivers with moving violations in their records will receive more expensive premiums. For instance, State Farm policyholders with no violations may pay, on average, $1,135. If they were to receive a speeding ticket or DUI, you may have to pay more. Getting a DUI can bump that State Farm policy from $1,135 to $1,226.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
Each ZIP code has different levels of crime and accidents as well as different driver demographics. So, where you live in Colorado Springs will affect the cost of your car insurance premium. People living in the 80920 ZIP code get the most affordable annual premium of $1,334. Drivers in the city’s most expensive ZIP code (80916), in terms of auto insurance, pay $1,461 on average for their annual premium.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Colorado Springs
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fatal accidents also contribute to car insurance rates in Colorado Springs. How Colorado Springs ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Colorado Springs are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
- Colorado General Assembly. "Mandatory Automobile Insurance in Colorado." Accessed June 17, 2020.