Cheapest Car Insurance Companies in Colorado Springs, CO (2023 Rates)

American National P&C offers the cheapest auto insurance in Colorado Springs for minimum and full coverage, young adults, seniors, military members and those with records. Kemper is the cheapest for teen drivers, American Family is for sports car drivers and GEICO is for drivers with bad credit. 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.

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

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

At $230 per year for minimum coverage, American National P&C 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.

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 incident 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.

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

• American National P&C: $566 per year
• GEICO: $797 per year

At annual rates of $586 for full coverage, American National P&C 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.

Full coverage auto insurance includes both comprehensive and collision coverage.

• Collision insurance: This applies when a driver is involved in a car accident.
• Comprehensive insurance: This covers a variety of damages such as theft, hail or downed trees.

With this kind of insurance, more coverage is provided, but it costs more. If your car is old, the coverage may cost more than the car is worth, making this type of policy not worth it.

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

• Speeding ticket: American National P&C ($654 per year)
• At-fault accident: American National P&C ($752 per year)
• DUI: American National P&C ($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.

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.

The following reputable companies are offering the most affordable teen driver auto insurance in Colorado Springs:

• Kemper: $1,824 per year for female teens; $1,268 per year for male teens
• GEICO: $2,155 per year for female teens; $2,273 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. Kemper’s $558 price difference illustrates this. The difference tends to drop off in early adulthood.

Purchasing a separate policy is more expensive than including a teen in an already-existing family policy. In Colorado Springs, the difference between buying separate insurance from adding a male teen to a family policy is $3,923. You can compare prices to find the cheapest teen auto insurance.

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

• American National P&C: $566 per year
• USAA: $749 per year

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

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.

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

• American National P&C: $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.

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

• American National P&C: $548 per year
• American Family: $777 per year

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

Drivers in their 60s spend $20 less yearly in Colorado Springs than those in their 40s. As they age, older drivers generally pay more coverage due to their greater likelihood of being involved in an incident caused by age-related issues, such as poor eyesight.

The top two car insurance providers in Colorado Springs that offer the cheapest 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 Insurance Co 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.

Drivers with poor credit might pay more for car insurance since they are more likely to file claims. If you have poor credit, there are several steps you may take to lower your insurance costs, including checking for common discounts, combining plans and comparing pricing from other providers. Your credit rating may eventually improve with time, lowering your rates.

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

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

Providing the most expensive sports car insurance in the city, Kemper costs $1,293 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.