Cheapest Car Insurance Companies in Colorado Springs, CO (2024 Rates)


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Updated: May 20, 2024

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American National offers the cheapest auto insurance in Colorado Springs for minimum and full coverage, young adults, seniors, military members and those with records. GEICO is the cheapest for teen drivers or those with bad credit, and American Family is the lowest-priced for sports car drivers. Your profile can determine which company is the cheapest option.

If you value affordability and service, we also looked at the best car insurance in Colorado Springs.

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2024

Cheapest Car Insurance in Colorado Springs, CO

Why Trust MoneyGeek? To get you the cheapest car insurance premiums for your profile, we conducted a detailed study using information from Quadrant Information Services and the Colorado Division of Insurance.

106,836Quotes Analyzed
 
14Companies Compared

Cheapest Minimum Coverage Car Insurance in Colorado Springs

The following providers in Colorado Springs offer the cheapest minimum coverage car insurance:

  • American National: $215 per year
  • Colorado Farm Bureau: $274 per year

At $230 per year for minimum coverage, American National is also the least expensive auto insurance provider in the state of Colorado. The state's average price is a little higher than in Colorado Springs, showing that location impacts rates.

Allstate charges $649 for its minimum coverage, which is the most costly option in the city.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Minimum Coverage
American National P&CAnnual Premium$215Monthly Premium$18
Colorado Farm BureauAnnual Premium$274Monthly Premium$23
GEICOAnnual Premium$339Monthly Premium$28
Auto-Owners Insurance CoAnnual Premium$365Monthly Premium$30
State FarmAnnual Premium$378Monthly Premium$32
American FamilyAnnual Premium$408Monthly Premium$34
KemperAnnual Premium$420Monthly Premium$35
NationwideAnnual Premium$469Monthly Premium$39
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The minimum liability limits in Colorado Springs are determined by state law as follows:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident

The only damages that minimum coverage car insurance covers are those to third parties. For example, if your bodily harm liability coverage is $50,000 per accident and $25,000 per individual, your insurance will only pay $25,000 in damages per person, up to $50,000 per accident. Anything beyond these limits will need to be paid from your own pocket, which could leave you very vulnerable to a large financial loss in an at-fault accident.

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Even if you choose to get the minimum liability limits required in Colorado, consider including uninsured/underinsured motorist (UM/UIM) coverage and medical payments coverage on your policy. Every Colorado auto insurer must offer these optional coverages, and you have the choice to decline them.

Over 16% of Colorado drivers do not have insurance, making UM a coverage worth getting as it pays your medical bills if an uninsured driver hits you or you are involved in a hit-and-run. And medical payments coverage could be very helpful since it can pay for medical bills and healthcare copayments or deductibles of the policyholder and their passengers, regardless of who is at fault in the accident.

Mark Friedlander, Director, Corporate Communications, Insurance Information Institute

Cheapest Full Coverage Car Insurance in Colorado Springs

The following companies in Colorado Springs provide the most affordable full coverage car insurance, according to the quotes collected by MoneyGeek:

  • American National: $566 per year
  • GEICO: $797 per year

At annual rates of $586 for full coverage, American National is also the least expensive insurance in the state of Colorado. When compared to the rest of the state, Colorado Springs has higher costs with this provider.

Acuity offers the most expensive full coverage in the city, with yearly rates averaging $1,405.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
American National P&CAnnual Premium$566Monthly Premium$47
GEICOAnnual Premium$797Monthly Premium$66
Colorado Farm BureauAnnual Premium$818Monthly Premium$68
American FamilyAnnual Premium$884Monthly Premium$74
State FarmAnnual Premium$922Monthly Premium$77
ProgressiveAnnual Premium$1,017Monthly Premium$85
Auto-Owners Insurance CoAnnual Premium$1,021Monthly Premium$85
AllstateAnnual Premium$1,063Monthly Premium$89

Full coverage auto insurance includes both comprehensive and collision coverage.

  • Collision insurance: This covers damage to your vehicle from an at-fault accident when you strike another car or an object like a building or a tree. Collision also covers rollover accidents and pothole damage.
  • Comprehensive insurance: This covers non-collision losses, including theft, vandalism, fire and severe weather impacts, including hail and flood.

With this kind of insurance, more coverage is provided, but it costs more. If you have an older model vehicle with a low market value, the coverage may cost more than the car is worth, making this type of policy not worth it.

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Cheapest Car Insurance in Colorado Springs After a Driving Offense

With any of the following driving offenses, drivers in Colorado Springs could purchase the cheapest full coverage auto insurance from one leading provider:

  • Speeding ticket: American National ($654 per year)
  • At-fault accident: American National ($752 per year)
  • DUI: American National ($834 per year)

At $3,113 for each offense, Acuity has the most expensive yearly cost for DUIs, speeding tickets and at-fault accidents. Driving infractions can have an impact on insurance rates, even with companies that are affordable.

To avoid paying more for car insurance after your first at-fault accident, include accident forgiveness coverage on your policy. It stops the premium increase, so you won't pay a higher rate for years.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Incident:
Incident:Speeding
American National P&CAnnual Premium$654Monthly Premium$55
Colorado Farm BureauAnnual Premium$972Monthly Premium$81
State FarmAnnual Premium$1,003Monthly Premium$84
GEICOAnnual Premium$1,006Monthly Premium$84
American FamilyAnnual Premium$1,016Monthly Premium$85
Auto-Owners Insurance CoAnnual Premium$1,127Monthly Premium$94
AllstateAnnual Premium$1,170Monthly Premium$97
NationwideAnnual Premium$1,296Monthly Premium$108

The severity of the driving offense determines how much the insurance price will rise. Consider the increased costs of at least $322 for a speeding citation and $667 for a DUI in Colorado Springs.

Even if you have a bad driving history, you can still get affordable rates on auto insurance.

Cheapest Car Insurance in Colorado Springs for Teens and Their Families

The following reputable companies are offering the most affordable teen driver auto insurance on a family policy with full coverage in Colorado Springs:

  • GEICO: $2,155 per year for female teens; $2,273 per year for male teens
  • Allstate: $2,330 per year for female teens; $2,330 per year for male teens

Farmers has the highest prices in Colorado Springs, charging $4,173 for female teens and $4,433 for male teens. Male teens typically pay more than female teenagers because they pose a greater risk to insure because of higher accident frequency and more reckless driving habits. GEICO’s $118 price difference illustrates this. The difference tends to drop off in early adulthood.

Data filtered by:Results filtered by:
Age:
Age:16
Gender:
Gender:Female
KemperFamily Plan Annual Premium$1,824Individual Plan Monthly Premium$12,119
GEICOFamily Plan Annual Premium$2,155Individual Plan Monthly Premium$15,460
AllstateFamily Plan Annual Premium$2,330Individual Plan Monthly Premium$10,998
NationwideFamily Plan Annual Premium$2,337Individual Plan Monthly Premium$7,246
State FarmFamily Plan Annual Premium$2,378Individual Plan Monthly Premium$5,354
Auto-Owners Insurance CoFamily Plan Annual Premium$3,041Individual Plan Monthly Premium$8,306
ProgressiveFamily Plan Annual Premium$3,602Individual Plan Monthly Premium$10,957
FarmersFamily Plan Annual Premium$4,173Individual Plan Monthly Premium$18,510

Purchasing a separate policy is more expensive than including a teen in an already-existing family policy, and minor teens cannot legally purchase their own car insurance policy without the written consent of a parent or guardian. In Colorado Springs, the difference between buying separate insurance and adding a male teen to a family policy is $3,923. You can compare prices to find the cheapest teen auto insurance.

Cheapest Car Insurance in Colorado Springs for Military Drivers

The following companies in Colorado Springs offer full coverage car insurance at the cheapest prices for military members, veterans and their families:

  • American National: $566 per year
  • USAA: $749 per year

If you just want to purchase minimum coverage car insurance in Colorado Springs, American National is likewise the least-priced choice at $215 yearly. USAA ranks second, charging $273 annually.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
American National P&CAnnual Premium$566Monthly Premium$47
USAAAnnual Premium$749Monthly Premium$62
GEICOAnnual Premium$797Monthly Premium$66
Colorado Farm BureauAnnual Premium$818Monthly Premium$68
American FamilyAnnual Premium$884Monthly Premium$74
State FarmAnnual Premium$922Monthly Premium$77
ProgressiveAnnual Premium$1,017Monthly Premium$85
Auto-Owners Insurance CoAnnual Premium$1,021Monthly Premium$85

How to Compare Cheap Colorado Springs Car Insurance Quotes Online

Considering an insurer’s quality of service and the significant personal information that must be submitted, requesting insurance quotes online may take 15 minutes or longer per insurer. With MoneyGeek’s calculator, you can enter your age, desired coverage, driving history and car type to get your prices instantly.

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Rates updated:

Jul 17, 2024

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Cheapest Car Insurance in Colorado Springs for Young Adults

These companies offer the most affordable full coverage auto insurance rates in Colorado Springs for young drivers in their 20s:

  • American National: $696 per year
  • GEICO: $903 per year

Acuity charges about $1,952 for young adult car insurance, making it the most expensive option in Colorado Springs.

Research shows that young drivers usually pay more than middle-aged drivers since they are perceived as riskier drivers. In Colorado Springs, they generally pay $282 more.

Data filtered by:Results filtered by:
Age Group:
Age Group:22-29
Coverage:
Coverage:Full Coverage
American National P&CAnnual Premium$696Monthly Premium$58
GEICOAnnual Premium$903Monthly Premium$75
American FamilyAnnual Premium$1,105Monthly Premium$92
State FarmAnnual Premium$1,201Monthly Premium$100
Colorado Farm BureauAnnual Premium$1,223Monthly Premium$102
ProgressiveAnnual Premium$1,240Monthly Premium$103
AllstateAnnual Premium$1,277Monthly Premium$106
NationwideAnnual Premium$1,384Monthly Premium$115

Cheapest Car Insurance in Colorado Springs for Seniors

The following leading companies offer senior drivers the most affordable full coverage auto insurance in Colorado Springs:

  • American National: $548 per year
  • American Family: $777 per year

Acuity provides the most expensive senior insurance premium of $1,405 per year.

MoneyGeek found that drivers in their 60s spend $20 less yearly in Colorado Springs than those in their 40s. Starting around age 70, senior drivers generally pay slightly more for coverage due to their greater likelihood of being involved in an incident caused by age-related issues, such as poor eyesight.

Data filtered by:Results filtered by:
Age Group:
Age Group:60 +
Coverage:
Coverage:Full Coverage
American National P&CAnnual Premium$548Monthly Premium$46
American FamilyAnnual Premium$777Monthly Premium$65
GEICOAnnual Premium$801Monthly Premium$67
State FarmAnnual Premium$831Monthly Premium$69
Auto-Owners Insurance CoAnnual Premium$931Monthly Premium$78
NationwideAnnual Premium$969Monthly Premium$81
AllstateAnnual Premium$978Monthly Premium$81
Colorado Farm BureauAnnual Premium$978Monthly Premium$82

Cheapest Car Insurance in Colorado Springs for Poor Credit

The top two car insurance providers in Colorado Springs that offer the cheapest full coverage rates for drivers with poor credit are:

  • GEICO: $1,170 per year
  • American Family: $1,395 per year

Car insurance costs are higher on average for drivers with bad credit. Auto-Owners provides the most expensive policy for drivers in the city with poor credit, at $2,977 a year. Compared to a motorist with a weaker credit rating, a city driver with a credit score of over 750 should expect to pay $804 less for car insurance. This is a 79% price difference.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
GEICOAnnual Premium$1,170Monthly Premium$97
American FamilyAnnual Premium$1,395Monthly Premium$116
NationwideAnnual Premium$1,469Monthly Premium$122
AllstateAnnual Premium$1,541Monthly Premium$128
Colorado Farm BureauAnnual Premium$1,635Monthly Premium$136
ProgressiveAnnual Premium$1,666Monthly Premium$139
KemperAnnual Premium$1,717Monthly Premium$143
State FarmAnnual Premium$1,899Monthly Premium$158

According to actuarial studies, drivers with poor credit typically pay more for can insurance due to a propensity to file more claims than drivers with good credit. If you have poor credit, there are several steps you may take to lower your insurance costs, including checking for common discounts, combining policies and comparing pricing from other providers. Your credit history may eventually improve with time, lowering your rates.

Cheapest Car Insurance in Colorado Springs for Sports Cars

The following companies offer sports car drivers in Colorado Springs the most affordable full coverage car insurance premiums:

  • American Family: $817 per year
  • GEICO: $980 per year

Providing the most expensive sports car insurance in the city, Nationwide costs $1,259 annually. Sports cars typically cost more to maintain, but not always. In Colorado Springs, insuring a sports car costs more than a Toyota Camry LE, adding $93 or 9% more to the yearly premium.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
American FamilyAnnual Premium$817Monthly Premium$68
GEICOAnnual Premium$980Monthly Premium$82
Auto-Owners Insurance CoAnnual Premium$1,014Monthly Premium$84
AllstateAnnual Premium$1,083Monthly Premium$90
State FarmAnnual Premium$1,116Monthly Premium$93
FarmersAnnual Premium$1,163Monthly Premium$97
ProgressiveAnnual Premium$1,241Monthly Premium$103

When analyzing insurance costs for sports cars, MoneyGeek used a Ford Mustang as its car type. Insurance rates can differ significantly depending on the type of vehicle. The car model should be taken into account when comparing policies.

Average Cost of Car Insurance in Colorado Springs

The average cost of auto insurance in Colorado Springs is $1,014 per year, which is more than the state of Colorado’s average of $1,002 but less than the $1,265 national average. These rates are for full coverage policies with comprehensive and collision insurance and limits of $100,000 in property damage liability, $300,000 in per-accident bodily injury liability and $100,000 in per-person bodily injury liability.

Location is one of the numerous variables that could affect insurance premiums.

Fort CollinsFull Coverage Average Annual Premium$857Minimum Coverage Average Annual Premium$384
GreeleyFull Coverage Average Annual Premium$886Minimum Coverage Average Annual Premium$380
BoulderFull Coverage Average Annual Premium$895Minimum Coverage Average Annual Premium$419
ArvadaFull Coverage Average Annual Premium$975Minimum Coverage Average Annual Premium$451
WestminsterFull Coverage Average Annual Premium$981Minimum Coverage Average Annual Premium$458
Highlands RanchFull Coverage Average Annual Premium$983Minimum Coverage Average Annual Premium$454
CentennialFull Coverage Average Annual Premium$1,009Minimum Coverage Average Annual Premium$478
Colorado SpringsFull Coverage Average Annual Premium$1,014Minimum Coverage Average Annual Premium$438
ThorntonFull Coverage Average Annual Premium$1,019Minimum Coverage Average Annual Premium$483
LakewoodFull Coverage Average Annual Premium$1,045Minimum Coverage Average Annual Premium$468
PuebloFull Coverage Average Annual Premium$1,063Minimum Coverage Average Annual Premium$437
AuroraFull Coverage Average Annual Premium$1,103Minimum Coverage Average Annual Premium$509
DenverFull Coverage Average Annual Premium$1,142Minimum Coverage Average Annual Premium$518

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.