Colorado Springs' average yearly cost of car insurance is $1,407, which is 3% cheaper than the state's $1,450 average. The cheapest insurance for the typical driver is offered by GEICO and costs $858. MoneyGeek also identified which suppliers were the most affordable based on various driving profiles and coverage levels. If drivers want to find the best options for balancing price and service quality, they can utilize MoneyGeek's scores to find them.
For full coverage policies, liability insurance, and drivers with tickets or accidents, GEICO offers the most affordable rates in Colorado Springs. USAA may offer you the lowest annual rates if you are from a military household. However, due to its exceptional customer service and general cost, MoneyGeek named State Farm the best auto insurance provider in the city.
The Most Affordable Auto Insurance Providers in Colorado Springs
The following two businesses in Colorado Springs typically provide full coverage insurance policies at the most competitive prices:
GEICO: $858 annually
Esurance: $999 annually
Even though USAA's full coverage auto insurance quotes are the lowest in the city at $705 a year, only active-duty military people and their families are eligible for their plans.
The cost quoted by MetLife, the most cheap insurer for a comparable plan, is around 147% higher than the average lowest rate in the city offered by GEICO. A full coverage insurance policy includes comprehensive and collision coverage, but the annual premiums depend on the level of liability coverage you select.
1.USAA = $705
2.GEICO = $858
3.Esurance = $999
4.Travelers = $1,005
5.Nationwide = $1,120
The typical insurance rates for a 40-year-old male driver with a full coverage insurance policy were examined in this study by MoneyGeek.
The following two coverages are added to liability in a full coverage auto insurance policy, which is more expensive than a liability-only policy.
Collision insurance can shield your car in the event of a collision with another vehicle.
Comprehensive Coverage: Protects your car from non-accidental damages such as animal collisions, fire damage, and theft.
If the car is an older model, a full coverage policy can be more expensive than the car's replacement cost. A liability-only insurance coverage or the minimum required by the state may be desirable in this case.
The least expensive minimum coverage auto insurance in Colorado Springs
Only the bare minimum of coverage is offered by the lowest insurance policy. The following organizations provide the least expensive minimal liability insurance in the area:
GEICO: $354 annually
State Farm: $546 annually
Military members may be eligible for $288 from USAA, the cheapest quotation in the area. The most expensive insurer, Progressive, quotes an average annual premium for state minimum liability-only coverage of $1,345; GEICO is around $991 less expensive.
Because the coverage limitations are smaller, minimum coverage insurance are less expensive. However, if you don't have comprehensive and collision insurance, you run the danger of not having enough protection in case of an accident.
CHEAPEST MINIMUM LIABILITY CAR INSURANCE IN COLORADO SPRINGS
1. USAA = $288
2. GEICO = $354
3. State Farm = $546
4. Nationwide = $562
5. Travelers = $635
Colorado law mandates that drivers carry a minimum of 25/50/15 liability coverage. Although this insurance may be the cheapest in Colorado Springs, you also receive the least amount of protection. That implies that you might have to pay extra out of pocket if you cause an accident.
For instance, if the other party's medical costs exceed $25,000, your liability insurance will only pay the first $25,000 of those costs; the remaining amount is your responsibility.
Cost of auto insurance on average in Colorado Springs
The annual average cost of auto insurance in Colorado Springs is $1,407, which is 3% less than the $1,450 state average. Additionally, motorists in this city pay 1.2% less annually than the national average.
Personalized Quotes for Colorado Springs' Lowest Car Insurance
The age, gender, automobile make, model, driving history, credit score, ZIP code, and other details are taken into account when Colorado Springs car insurance providers calculate estimates. The price of your yearly auto insurance premium can alter depending on any modifications to your unique circumstances.
For instance, GEICO charges an $858 yearly premium on average for a 40-year-old male. A comparable coverage for a male age 18 costs $3,165, which is $2,307 more than the male age 40 pays. Regularly comparing customized quotations will help you determine whether you are eligible for particular rebates or discounts.
The Top Colorado Springs Auto Insurance Providers
Based on the level of customer service and price offered by Colorado Springs auto insurance providers, MoneyGeek compared them. The firms listed below offer Colorado Springs drivers the best vehicle insurance, according to our research:
State Farm received a 90/100 rating from MoneyGeek.
GEICO received a 90/100 rating from MoneyGeek.
In contrast, USAA was the undisputed winner in Colorado Springs, receiving the highest marks of 100. The corporation was not included on the list of top companies since its policies only apply to military personnel and their dependents.
These auto insurance providers were ranked by MoneyGeek based on a number of criteria, including affordability, customer satisfaction, and insurer financial soundness. The data analytics and consumer intelligence business J. D. Power's findings were one of many sources we consulted while conducting this study.
Frequently asked questions regarding Colorado auto insurance;
Want to buy auto insurance in Colorado? Liberty Mutual Insurance gets you covered whether you reside in Colorado Springs, Denver, or another part of the wonderful Centennial State. We tailor your Colorado vehicle insurance so you only pay for what you require, from liability protection to comprehensive coverage.
What kind of auto insurance is necessary for Colorado?
It is against the law to drive without insurance in Colorado. In Colorado, drivers are required to carry bodily injury, property damage, uninsured motorist personal injury, and medical payments insurance.
The minimal amount of automobile insurance that Colorado drivers must possess to be deemed adequately covered is depicted in this chart.
What is Colorado's average price for auto insurance?
According to thezebra.com, the average cost of vehicle insurance in Colorado is $1,704 a year.
2 That is 14.5% more than the average for the country. Of course, a number of various criteria, like as your age, where you reside, and your driving record, will affect how much your auto insurance will cost.
What Colorado auto insurance policy is the best?
In 2022, NerdWallet ranked Liberty Mutual as one of the top auto insurance providers.
3 That's because we are aware that every person has different requirements for their Colorado vehicle insurance. Some people may seek the most affordable Colorado vehicle insurance, while others may seek out greater coverage and a reputable auto insurance provider. Allow us to assist you in modifying your Colorado auto insurance so that you only pay for what you require.
Which type of Colorado automobile insurance is best for you?
The bare minimum Colorado auto insurance requirements are shown in the chart above. But if you want extra security, you might want to think about getting more coverage, depending on your needs and budget.
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