The Best, Cheapest Car Insurance in Colorado Springs, CO

The average annual car insurance cost in Colorado Springs is $957 for a minimum-coverage policy, but some insurers charge less than half that.

State Farm had the lowest overall rates, with minimum coverage costing $457 per year and full coverage costing $1,100.

Your quote estimate can vary by thousands of dollars depending on your accident history, credit score, age, and location. With this in mind, we recommend shopping around with several insurance companies to find the best coverage and price for your situation.

Cheapest minimum coverage quotes in Colorado Springs: State Farm

State Farm is the most affordable and widely available insurance company, with an average annual rate of $429.

Progressive is the next best option, with an annual rate of $877, which is still less than the average minimum insurance policy in Colorado Springs.

Current or former military members looking for low-cost insurance at a lower rate than Progressive should consider USAA, which not only has low annual premiums but is also a good option for new drivers and vehicle owners.

The cheapest auto insurance quotes will come from policies that meet the state's minimum requirements. If you're not sure where or how to begin your search, you can use our quote tool to get free quotes.

*USAA is only available to current and former military members and their families.

Cheapest full coverage policy in Colorado Springs: State Farm

State Farm offers the most affordable full coverage policy. Full coverage satisfies the state's minimum coverage requirement while also providing collision and comprehensive coverage. State Farm's full coverage policy costs $1,100 per year on average, which is $671 more than its minimum policy rate.

Despite being significantly more expensive, Nationwide is the second-cheapest option for drivers who want to stay with a major insurance company. Former and current military personnel, on the other hand, should consider USAA as a potential option; it is the second-cheapest after State Farm.

*USAA is only available to current and former military members and their families.

• Collision coverage: Covers instances when your vehicle crashes into another object. This includes situations such as colliding with another vehicle, driving into an immovable object such as 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.

It is strongly advised that you purchase full coverage if your vehicle is new or expensive.

Cheapest full coverage auto insurance for young drivers: State Farm

It's no secret that young drivers frequently get higher auto insurance quote estimates than older drivers. State Farm has by far the lowest average annual premium, at $3,859 per year for a teen looking to purchase their own policy.

The next-lowest major insurer is American Family, which charges nearly $11,000 per year on average. Former and current military personnel can obtain auto insurance from USAA, which is comparable to State Farm in terms of cost.

*USAA is not ranked because only military members (current and former) and their families are eligible.

Even if they compare rates, young drivers may find themselves paying a hefty sum for auto insurance. However, there are steps you can take to reduce the costs.

If your parents are willing to keep you on their policy, contact their insurer to see how much more money a combined or multi-car policy would cost.

A combined policy will cost more than insuring just one vehicle, but it will be less expensive than purchasing two separate policies.

You may also be eligible for discounts if you are a good student, have good credit, or have completed a defensive driving course. Each insurance company offers different types of discounts, so when speaking with an insurance agent, always inquire about what you may be eligible for.

Cheapest car insurance for drivers with prior accidents

For drivers with an accident history, State Farm and American Family have the lowest annual price increases. State Farm raises quotes by an average of $184, whereas American Family raises quotes by an average of $32. However, it is important to note that many insurers will raise their rates significantly more.

Even a single accident has a significant impact on your auto insurance quote. For example, Geico drivers' insurance premiums can rise by an average of $1,865 as a result of an accident. Drivers with Farmers insurance, which has the highest average full coverage cost, could see a price increase of more than $2,500.

*USAA is not ranked because only military members (current and former) and their families are eligible.

When you begin contacting insurance agents for a quote, keep these price increases in mind. However, your prices will vary, so shopping around is the best way to find out which insurer charges you the least.

Best car insurance company in Colorado Springs by customer service

For some drivers, the most important consideration when choosing an auto insurance company is price. Others may find that the benefits of excellent customer service outweigh the monthly savings on their premium. When filing a claim with your insurance company for an accident, regardless of price, you want your situation to be taken seriously and the claims process to be as simple as possible.

Using data from the National Association of Insurance Commissioners, we discovered that Nationwide, State Farm, and Travelers provide the best customer service in Colorado Springs, as measured by customer complaint rates. Notably, Nationwide and State Farm, two of the least expensive auto insurance options, have the lowest complaint index figures, indicating excellent customer service.

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 high complaint index indicates that formal complaints are being filed at a high rate by consumers. The average national complaint index is 1.0.

Average cost of auto insurance by neighborhood

ZIP code is another factor that can affect your auto insurance pricing because some areas have a higher population density or a higher rate of crime than others. We discovered that annual premium differences between certain Colorado Springs ZIP codes can be more than $100 for the same driver.

Residents of Gleneagle, for example, can pay an average of $887 in annual premiums for minimum coverage, whereas residents of Fort Carson, one of the city's most expensive neighborhoods, can pay an average premium cost of $1,012.

The average annual premium cost is listed below, organized by ZIP code.

Minimum coverage requirement in Colorado Springs

The requirements for car insurance are set at the state level. Every driver in Colorado is required to have the following types of coverage:

• Bodily injury liability: $25,000 per person, $50,000 per accident
• Property damage liability: $15,000 per accident

Additional coverage is optional, but you should always consider your personal circumstances when deciding whether it's better to stick with the bare minimum or add more coverage. Any accident that does not fall within the parameters of an insurer's bodily injury and property damage coverage will result in out-of-pocket expenses, which can be costly.

Methodology

Unless otherwise specified, our sample driver was a 30-year-old male with a below-average credit score who obtained a minimum coverage policy for his 2015 Honda Civic EX that met Colorado's state requirements.

We obtained quotes from eight Colorado Springs insurance companies. When discussing full coverage policies, the following limitations were mentioned:

The insurance rate data used in LowCostInsurance analysis came from Quadrant Information Services. These rates were obtained publicly from insurer filings and should only be used for comparison purposes — your own quotes may differ.