Cheapest car insurance companies in Colorado Springs 

After an in-depth analysis, Insurance.com found that Geico and State Farm are the cheapest car insurance companies in Colorado Springs for 2023. 

In Colorado Springs, Geico provides the cheapest auto insurance rates to drivers at an average annual premium of $1,608 annually

When it comes to car insurance costs in Colorado Springs, several factors come into play. Your location, driving record, coverage level, and the insurance company you choose can all affect the price you’ll pay. Make sure you shop around and compare policies apples to apples to get a good deal on your insurance policy. 

CompaniesAverage annual rates
USAA$1,586
Geico$1,608
State Farm$2,049
Kemper Insurance$2,187
Southern Farm Bureau$2,238
Auto-Owners$2,732
Allstate$2,998
Progressive$3,185
Farmers$3,941

Cheapest car insurance cost in Colorado Springs by Age Group 

The cheapest auto insurance company in Colorado Springs for teen drivers is Southern Farm Bureau. For full coverage, its average annual rate for Colorado Springs drivers is $4,120. Insurance companies put teenagers in the category of high-risk drivers, and as a result, they are charged higher rates for insurance. 

Teenagers can lower their insurance costs by strategically utilizing the good student discount or remaining listed as a driver on their parent's policy.

When compared to other car insurance companies, Geico turned out to be the cheapest car insurance company for young drivers in Colorado Springs, offering full coverage at an annual average cost of $2,293.

An analysis of car insurance rates for Colorado Springs drivers reveal a significant decrease in premiums for individuals in their 30s compared to those in their 20s. Geico offers the cheapest full-coverage car insurance rates at $1,589 per year.

If you are a senior driver in Colorado Springs and looking for a cheap car insurance company, then consider buying insurance from USAA. It is the cheapest auto insurance company for senior drivers, with an average premium of $1,624 per year

CompanyTeensYoung AdultsAdultsSeniors
Acuity InsuranceN/AN/A$4,622$4,087
Southern Farm Bureau$4,120$3,200$2,351$2,638
USAA$5,296$2,552$1,614$1,624
Geico$5,374$2,293$1,589$1,637
State Farm$5,594$3,300$2,057$1,939
Auto-Owners$6,012$4,164$2,744$2,565
Kemper Insurance$7,451$3,932$2,212$2,363
Allstate$7,470$4,133$3,041$2,878
Progressive$8,031$5,318$3,209$3,084
Farmers$8,927$4,738$3,974$4,011

Cheapest car insurance companies in Colorado Springs by driver profile 

Insurers in Colorado Springs consider various factors, including driver profile, to calculate car insurance premiums. You can expect to pay significantly higher rates if you have a history of accidents or traffic citations on your driving record. On the other hand, those with a clean driving record enjoy more affordable coverage.

Comparison shopping is the key to getting the cheapest car insurance rates in Colorado Springs. By comparing rates from multiple providers, you ensure you're getting the coverage you need at an affordable price.

Here are some of the cheapest car insurance companies in Colorado Springs based on driver profile. 

Drivers in Colorado Springs with poor credit can get the cheapest car insurance from Nationwide at an average cost of $2,053 a year, according to a data study by Insurance.com.

The table below shows the list of car insurance companies that offer affordable car insurance for drivers with poor or bad credit scores. 

CompanyAverage annual rates
Nationwide$2,053
Geico$2,055
USAA$2,881
State Farm$3,331
Progressive$3,497
Allstate$3,767
Farmers$4,195

USAA has the cheapest car insurance premiums for drivers with speeding ticket violations on their records in Colorado Springs. Its full coverage car insurance policy costs an average of $1,692 per year for drivers aged 30. 

Finding the cheapest car insurance isn't a one-size-fits-all scenario. What may be the most cost-effective option for you might not be the same for someone else. That's why you should compare car insurance quotes from multiple carriers.

CompanyAverage annual premium
USAA$1,692
State Farm$1,792
Nationwide$2,044
Geico$2,317
Allstate$2,481
Progressive$2,597
Farmers$3,429

Finding affordable car insurance rates after an at-fault accident isn't easy, but if you compare quotes, you might find a policy that fits your budget.

In a recent data analysis, Insurance.com found that State Farm offers the cheapest car insurance rates for Colorado Springs drivers with at-fault accidents. It provides coverage at an average annual cost of $1,915.

CompanyAverage annual rates
State Farm$1,915
USAA$2,266
Nationwide$2,349
Geico$2,692
Progressive$3,292
Allstate$3,588
Farmers$3,950

In Colorado Springs, State Farm has the cheapest car insurance rates for individuals with DUI on their record. The company provides a full coverage policy at an average cost of $1,792 a year

Drivers convicted of a DUI offense face substantial increases in their car insurance rates. To get affordable premiums, you should compare quotes from different insurance carriers.

CompanyAverage annual rates
State Farm$1,792
Progressive$2,876
USAA$3,233
Nationwide$3,279
Allstate$3,442
Geico$3,504
Farmers$4,051

Average car insurance cost in Colorado Springs 

In Colorado Springs, the annual cost of car insurance for the coverage level of 100/300/100 is $2,349 or around $196 per month. However, the average yearly rate for state minimum coverage in Colorado Springs is $510.

While full coverage car insurance is more expensive than the state minimum, it provides valuable protection for your own vehicle in addition to coverage for other drivers in the event of an accident. To save money, consider comparing quotes from multiple insurance companies.

Average annual RatesState minimum average
$2,349$510

Methodology

Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:

  • 40-year-old male driver
  • Honda Accord LX
  • 12-mile daily commute, 10,000 annual miles
  • Good credit
  • Clean record

While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.

Rates are based on coverage limits of:

  • $100,000 bodily injury per person
  • $300,000 bodily injury per accident
  • $100,000 property damage per accident
  • $500 comprehensive and collision deductible

Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.