The Best, Cheapest Car Insurance in Colorado Springs, CO
Colorado Springs has an average annual car insurance cost of $957 for a minimum-coverage policy, but some insurers charge less than half that.
State Farm offered the lowest rates overall, at just $457 per year for minimum coverage and $1,100 for full coverage.
Depending on your accident history, credit score, age and area of residence, your quote estimate can vary by thousands of dollars. With this in mind, we recommend checking with multiple insurance companies to find the best coverage and price for your background.
Cheapest minimum-coverage quotes in Colorado Springs: State Farm
State Farm is the cheapest widely accessible insurance company, with an average annual rate of $429 per year.
Although over double the price, Progressive is the next lowest-cost option with an annual rate of $877, which is still cheaper than the average minimum insurance policy in Colorado Springs.
Current or former military members looking for inexpensive insurance at a lower rate than Progressive should look into USAA, which not only has low annual premiums but also is a great option for new drivers and new vehicle owners.
Find Cheap Auto Insurance Quotes in Colorado Springs
The cheapest auto insurance quotes will come from policies that meet the minimum requirements set by the state.
Cheapest minimum-coverage quotes in Colorado Springs
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $429 |
| 2 | Progressive | $887 |
| 3 | Nationwide | $1,065 |
| 4 | Geico | $1,243 |
| 5 | Allstate | $1,391 |
| 6 | Farm Bureau | $1,657 |
| 7 | American Family | $2,438 |
| N/A* | USAA | $478 |
*USAA is only available to current and former military members and their families.
Cheapest full coverage policy in Colorado Springs: State Farm
State Farm has the cheapest full-coverage policy. On average, State Farm's full-coverage policy costs $1,100 per year, $671 more than its minimum policy rate.
Although it's significantly more expensive, Nationwide is the second-cheapest option available to most drivers. Former and current military members, however, should also look into USAA as a potential option; it's the second-cheapest after State Farm.
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $1,100 |
| 2 | Nationwide | $2,424 |
| 3 | Geico | $3,245 |
| 4 | Progressive | $3,521 |
| 5 | Allstate | $4,014 |
| 6 | American Family | $4,791 |
| 7 | Farmers | $6,622 |
| N/A* | USAA | $1,654 |
*USAA is only available to current and former military members and their families.
What is full coverage? Full coverage is any auto insurance policy that meets the state minimum coverage requirements and includes collision and comprehensive coverage.
- Collision coverage: Covers instances when your vehicle crashes into another object. Includes situations such as crashing into another car, driving into an immovable object like a tree and flipping over.
- Comprehensive insurance: Protects your car in situations out of your control, including damage caused by natural disasters or hitting an animal.
If your vehicle is new or expensive, it is highly recommended that you purchase full coverage.
Cheapest full-coverage auto insurance for young drivers: State Farm
State Farm has, by far, the cheapest average annual premium at a rate of $3,859 a year for a teen buying their own policy.
The next-cheapest major insurer is American Family, which charges, on average, nearly $11,000 annually. Former and current military members can opt to obtain auto insurance from USAA, which is in the same price range as State Farm.
Rank | Insurer | Annual premium rate |
|---|---|---|
| 1 | State Farm | $3,859 |
| 2 | American Family | $10,856 |
| 3 | Nationwide | $11,753 |
| 4 | Geico | $13,071 |
| 5 | Progressive | $13,281 |
| 6 | Allstate | $14,408 |
| 7 | Farmers | $16,156 |
| N/A* | USAA | $3,892 |
*USAA is not ranked because only military members (current and former) and their families are eligible.
Young drivers can find themselves paying a hefty amount for auto insurance even if they compare rates. However, there are ways to mitigate the costs.
If your parents are open to the idea of having you stay on their policy, contact their insurer to see how much extra money a combined or multi-car policy would be.
A combined policy will cost more than having just one vehicle insured, but combining policies will be cheaper than if you simply buy two separate policies.
You might also be eligible for discounts for being a good student, having good credit or taking a defensive driving course. Each individual insurance company has different types of discounts, so always ask what you may qualify for when talking to an insurance agent.
Cheapest car insurance for drivers with prior accidents
State Farm and American Family have the lowest annual price increases for drivers with an accident history. State Farm increases its quote by an average of $184, while American Family increases quotes by an average of only $32. However, it's important to note that many insurers will increase their rates by much more.
Having even one accident has a major effect on your auto insurance quote. For instance, drivers insured by Geico can see an average $1,865 increase following an accident. Drivers insured under Farmers, which has the highest average full coverage cost, can see a price hike of over $2,500.
Rank | Company | Car insurance quote before accident | Car insurance quote after accident | Difference |
|---|---|---|---|---|
| 1 | State Farm | $1,100 | $1,283 | $184 |
| 2 | American Family | $4,791 | $4,823 | $32 |
| 3 | Nationwide | $2,424 | $3,739 | $1,315 |
| 4 | Geico | $3,245 | $5,110 | $1,865 |
| 5 | Progressive | $3,521 | $5,022 | $1,501 |
| 6 | Allstate | $4,014 | $5,447 | $1,434 |
| 7 | Farmers | $6,622 | $9,264 | $2,642 |
| N/A* | USAA | $1,654 | $2,069 | $415 |
*USAA is not ranked because only military members (current and former) and their families are eligible.
Take these price increases into account when you begin contacting insurance agents to obtain a quote. Your prices will differ, so the best way to find out which insurer charges you the least is to shop around.
Best car insurance company in Colorado Springs by customer service
For some drivers, price is the biggest factor in selecting an auto insurance company. For others, the benefits of strong customer service may outweigh the monthly savings on their premium. Regardless of price, when filing a claim with your insurance company for an accident, you want your situation to be taken seriously and for the claims process to be as easy as possible.
Using data from the National Association of Insurance Commissioners, we've found that the companies in Colorado Springs with the best customer service, measured by rates of customer complaints, are Nationwide, State Farm and Travelers. Notably, Nationwide and State Farm, two of the cheaper options for auto insurance, have the lowest complaint index figures, indicating strong customer service.
Rank | Company | Market share | Complaint index |
|---|---|---|---|
| 1 | Nationwide | 1.9% | 0.48 |
| 2 | State Farm | 16.4% | 0.57 |
| 2 | Travelers | 3.4% | 0.57 |
| 4 | Geico | 8.9% | 0.62 |
| 5 | Allstate | 7.8% | 0.69 |
Complaint index was drawn from the National Association of Insurance Commissioners. All insurers in our sample group from our rate analysis were included, along with two other insurers that hold a significant market share. If an insurance group had multiple companies operating in the state, the complaint index was taken from the company with the largest market share.
A low complaint index indicates that consumers are less likely to file a formal complaint, and suggests that they are more likely to be happy with their service. The national median complaint index is 1.0.
Average cost of auto insurance by neighborhood
Another factor that can affect your auto insurance pricing is where you live, because some areas have a denser population or higher rate of crime than others. For the same driver, we found annual premium differences between certain Colorado Springs ZIP codes can be more than $100.
For example, residents of Gleneagle looking for minimum coverage can pay an average of $887 in annual premiums, while residents in Fort Carson, one of the most expensive neighborhoods in the city, can pay an average premium cost of $1,012.
Below, we listed the average annual premium cost, organized in order of ZIP code.
ZIP code | Neighborhood | Average annual car insurance rate |
|---|---|---|
| 80902 | Fort Carson | $1,012 |
80903 | Old North End / Downtown | $970 |
| 80904 | Old Colorado City / Pleasant Valley / Cedar Heights | $933 |
| 80905 | Skyway Park / Gold Hill Mesa / Stratton Meadows | $979 |
| 80906 | Spring Ranch / Broadmoor | $977 |
Minimum coverage requirement in Colorado Springs
Car insurance requirements are regulated at the state level. Colorado requires the following types of coverage for every driver in the state:
- Bodily injury liability: $25,000 per person, $50,000 per accident
- Property damage liability: $15,000 per accident
Additional coverage is optional. You should always evaluate your individual circumstances when deciding whether it's beneficial to stick with minimum coverage versus adding more coverage.
Any accident that doesn't fall under the conditions outlined by an insurer's bodily injury and property damage coverage will result in out-of-pocket costs, which can be expensive.
Methodology
Unless otherwise stated, our sample driver was a 30-year-old male with a below-average credit score who obtained a minimum-coverage policy matching Colorado's state requirements for his 2015 Honda Civic EX.
We collected rates from eight insurance companies in Colorado Springs. When discussing full-coverage policies, there were the following limits:
Coverage type | Study limit |
|---|---|
| Bodily injury liability | $50,000 per person/$100,000 per accident |
| Property damage liability | $25,000 per accident |
| Uninsured/underinsured motorist bodily injury | $50,000 per person/$100,000 per accident |
| Comprehensive and collision | $500 deductible |
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.