Best cheap car insurance in Colorado Springs
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In Colorado Springs, the average cost of car insurance is $518 for minimum coverage and $2,132 for full coverage per year, or around $178 per month. Although minimum coverage in Colorado Springs is slightly lower than the national average cost of car insurance, which is $545 per year, its full coverage rate is higher than the $1,771 national average annual rate.
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Compare auto insurance rates
Save on auto insurance with quotes from trusted providers like:
Drivers switch & save an average of $750+/year
Are you overpaying for auto insurance?
Safe drivers choose Allstate®
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
With higher rates in Olympic City USA, drivers may seek the best cheap car insurance rates. After extensive research, Bankrate has found the cheapest car insurance companies in Colorado Springs are Geico, USAA and State Farm. Learning more about the best cheap carriers and how to find and keep cheap car insurance in Colorado Springs may help you find the most affordable rates for your coverage needs.
Best cheap car insurance companies in Colorado Springs
Bankrate’s picks for the top three best cheap car insurance companies in Colorado Springs are Geico, State Farm and USAA, according to data provided by Quadrant Information Services. Shoppers can use the table below to narrow down their choices for the best carrier. Besides annual quoted premiums, third-party scores, such as the 2022 J.D. Power Auto Insurance Study, are used to determine our picks. These, along with other factors like coverage options, discounts, financial strength and online and mobile accessibility, are calculated to determine the Bankrate Score. The Bankrate Score is based on a five-point scale, with a 5.0 Bankrate Score reserved for companies that excel in all categories.
| Insurance company | Bankrate Score | J.D. Power score (Southwest Region) | Average annual premium for full coverage | Average annual premium for minimum coverage |
|---|---|---|---|---|
| Geico | 4.7 | 827/1,000 | $1,222 | $265 |
| USAA | 5 | 856/1,000 | $1,353 | $309 |
| State Farm | 4.7 | 848/1,000 | $1,580 | $449 |
| Nationwide | 4.4 | Not rated | $1,595 | $463 |
| Esurance | 4.2 | Not rated | $1,956 | $703 |
*Not officially ranked with J.D. Power due to eligibility restrictions
Geico
Colorado Springs drivers may consider Geico for cheap rates. The carrier offers some of the cheapest rates for minimum and full coverage. Besides the standard car insurance coverage, Geico also has emergency road service, rental reimbursement and mechanical breakdown insurance available. Geico ties with the industry average in the Southwest region for auto insurance customer satisfaction. However, Geico might not be the best choice if you need more specialized coverage, like pet injury or gap insurance.
Learn more: Geico Insurance Review
USAA
With a perfect Bankrate Score and lower-than-average rates for minimum and full coverage, USAA is another option to consider. Unfortunately, this carrier is only available to current and past servicemembers and their immediate families, which is also why it is rank ineligible in the J.D. Power study even though it earned the highest score. It also lacks in coverage options, offering only rental reimbursement and roadside assistance as add-ons.
Learn more: USAA Insurance Review
State Farm
State Farm is the top choice in the Southwest region, earning the highest ranked score for auto insurance customer satisfaction. Although the carrier may not offer the cheapest rates of all of our carriers, its average full and minimum coverage rates are still below the national average. State Farm offers rideshare insurance, which may be helpful to some Colorado Springs drivers. But you won’t find as many discount opportunities with State Farm as you will with other carriers.
Learn more: State Farm Insurance Review
Nationwide
Nationwide offers multiple ways to personalize your car insurance with coverage options like gap insurance, towing and labor, vanishing deductible and total loss deductible waiver. Colorado drivers may also be able to save with discounts like multi-policy, automatic payments and being a safe driver. Nationwide does not rank in the Southwest region for customer satisfaction, which may not make this carrier the right fit for all Colorado Springs drivers.
Learn more: Nationwide Insurance Review
Esurance
Owned by Allstate, Esurance is another choice for Colorado Springs drivers, though its minimum coverage rates may be a bit higher on average. It has a powerful digital presence, including a mobile app for policy management and claims, so may be a fit for those who prefer an online experience. Esurance offers a few optional coverage types, like rental car, roadside assistance and gap insurance. However, it does not rank in the Southwest region and earns the lowest Bankrate Score on our list.
Learn more: Esurance Insurance Review
How to get and keep the cheapest car insurance in Colorado Springs
Knowing how to get and keep the cheapest car insurance in Colorado Springs and other states can help you get the most competitive rates without sacrificing coverage. Consider these tips to get the most affordable rates:
- Compare company quotes. Once you determine the coverage options that meet your needs, getting several quotes to compare can help you get the cheapest car insurance rates. It may be worth speaking with an insurance agent if you are unsure which coverage types you need, so you only pay for what you actually need.
- Practice safe driving habits. To keep your cheap Colorado Springs rates, avoid tickets and at-fault accidents. This makes you eligible for safe driving discounts and accident forgiveness, which protects rates if you cause an accident. You might also consider your carrier’s telematics programs, which monitors your trips and rewards safe driving behaviors.
Frequently asked questions
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The best car insurance company is one that offers the factors important to you at a price that fits your budget. Important factors in a company might include its financial strength, customer satisfaction scores, claims process or mobile accessibility. Determining these factors can help you narrow down the best companies so you can get quotes to compare coverage and price.
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Colorado Springs car insurance rates are high due to several factors, including population and highway density, car theft rates and uninsured motorists in the state. Colorado is the national leader in car thefts, with at least 48,000 expected in 2022. Although Colorado Springs ranks 38th in the state, high insurance claim payouts can cause statewide increases. Colorado also ranks 13th for most uninsured drivers, with an estimated 16.3 percent driving on Colorado roads without insurance.
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The average cost of car insurance in Colorado state is $2,019 for full coverage per year, or $168 per month. For minimum coverage, the average cost of Colorado car insurance is $495 per year, or about $41 per month.
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Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Bankrate Scores
Bankrate Scores are calculated on a five-point scale and primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.
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