The Best, Cheapest Car Insurance in Colorado Springs, CO

Find Cheap Auto Insurance Quotes in Colorado Springs

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Colorado Springs has an average annual car insurance cost of $1,199. But the cost of your own policy could vary greatly, depending on a number of factors. One of the biggest factors is your choice of insurance company.

In fact, the insurer with the cheapest minimum liability insurance policy charges $2,000 less per year than the priciest insurer.


Cheapest for minimum liability

State Farm logo
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Cheapest for full coverage

State Farm logo
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Cheapest for drivers with an accident

State Farm logo
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Best for customer service

Nationwide logo
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Depending on your accident history, credit score, age and area of residence, your quote estimate can vary by the thousands. With this in mind, we recommend shopping with many insurance companies to ensure you find the best coverage and price for your background.

Which insurer has the cheapest 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 best 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.

This graph identifies and ranks the three companies in Colorado Springs, Colo. with the best rates for insuring our sample drivers' cars
This graph identifies and ranks the three companies in Colorado Springs, Colo. with the best rates for insuring our sample drivers' cars

Find Cheap Auto Insurance Quotes in Colorado

Currently insured?
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The cheapest auto insurance quotes will come from policies that meet the minimum requirement set by the state. If you’re not sure where or how to start looking, you can use our quote tool below to get free quotes.

RankCompanyAnnual rate
1State Farm$429
2Progressive$887
3Nationwide$1,065
4GEICO$1,243
5Allstate$1,391
6Farm Bureau$1,657
7American 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. Full coverage meets the state minimum coverage requirement but also includes collision and comprehensive coverage. On average, State Farm’s full coverage policy costs $1,100 per year, $671 more than its minimum policy rate.

Although significantly more expensive, Nationwide is the second-cheapest option available for drivers looking to stick with a major insurance company. Former and current military members, however, should also look into USAA as a potential option; it's the second-cheapest after State Farm.

RankCompanyAnnual rate
1State Farm$1,100
2Nationwide$2,424
3GEICO$3,245
4Progressive$3,521
5All State$4,014
6American Family$4,791
7Farmers$6,622
N/A*USAA$1,654
*USAA is only available to current and former military members and their families.
  • 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

It’s no secret that young drivers often receive higher auto insurance price estimates than older adults. State Farm has, by far, the cheapest average annual premium at a rate of $3,859 a year for a teen looking to buy 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.

RankInsurerAnnual premium rate
1State Farm$3,859
2American Family$10,856
3Nationwide$11,753
4GEICO$13,071
5Progressive$13,281
6All State$14,408
7Farmers$16,156
N/A*USAA$3,892

Young drivers can find themselves paying a hefty amount for auto insurance even if they compare rates. However, there are things you can do 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 increase 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.

RankCompanyCar insurance quote before accidentCar insurance quote after accidentDifference
1State Farm$1,100$1,283$184
2American Family$4,791$4,823$32
3Nationwide$2,424$3,739$1,315
4GEICO$3,245$5,110$1,865
5Progressive$3,521$5,022$1,501
6Allstate$4,014$5,447$1,434
7Farmers$6,622$9,264$2,642
N/A*USAA$1,654$2,069$415

Take these price increases into account when you begin contacting insurance agents to obtain a quote. But 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.

RankCompanyMarket shareComplaint index
1Nationwide1.90%0.48
2State Farm16.40%0.57
2Travelers3.40%0.57
4GEICO8.90%0.62
5Allstate7.80%0.69
6American Family Insurance7.50%0.7
7Progressive11.40%0.91
8Farmers Insurance6.00%0.97
9USAA9.30%1.14
10Liberty Mutual6.80%1.69
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 high complaint index indicates that consumers are making formal complaints at a high rate. 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 ZIP code 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 CodeNeighborhoodAverage annual car insurance rate
80902Fort Carson$1,012

80903
Old North End / Downtown$970
80904Old Colorado City / Pleasant Valley / Cedar Heights$933
80905Skyway Park / Gold Hill Mesa / Stratton Meadows$979
80906Spring Ranch / Broadmoor$977
80907Old North End / Holland Park$934
80909Northeast$959
80910Lorson Ranch / The Glen at Widefield$979
80912N/A$918
80916N/A$986
80917Northeast$958
80918University Park$937
80919Rockrimmon / Peregrine / Mountain Shadows$898
80920Pine Creek$894
80921Gleneagle / Flying Horse / The Farm$887
80923Indigo Ranch$924
80924Wolf Ranch / Cordera / Cumbre Vista$924
80925Lorson Ranch / The Glen at Widefield$949
80926N/A$1,008
80927Banning Lewis Ranch$1,022
80928N/A$892
80929N/A$947
80930N/A$908
80938N/A$1,006
80939Cimarron Hills$1,004
80946Colorado College$1,030
80951Claremont Ranch$1,004

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, but 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 typeStudy 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.

Alison is an SEO & Content intern at ValuePenguin, covering auto insurance. She graduated from Stony Brook University with a B.S. in Applied Mathematics and is currently pursuing an MBA in Marketing.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.