Shopping for automotive insurance coverage makes good monetary sense, however additionally it is required by Colorado regulation. Colorado Springs residents pay a mean annual automotive insurance coverage premium of $607 for minimal protection and an annual $2,178 for full protection, greater than state and nationwide averages. Greater than 478,000 folks reside in Colorado Springs and, based on the El Paso County Clerk and Recorder, the town had practically 370,000 registered automobiles in 2017.
Discovering the perfect low-cost automotive insurance coverage firms in Colorado Springs doesn’t need to be troublesome, particularly if what to search for in an insurer. Bankrate has achieved a lot of the legwork for you. We now have searched the market evaluating insurer’s coverages, customer support practices, reductions, monetary scores and charges, to seek out the perfect automotive insurance coverage for Colorado Springs drivers.
Finest automotive insurance coverage firms in Colorado Springs
Discovering an insurer that provides nice charges is necessary, however you additionally want an organization that gives good buyer assist and has the property to pay its claims. Our prime 5 Colorado Springs automotive insurance coverage carriers provide aggressive charges, have earned good AM Finest monetary power scores and most ranked among the many finest insurers within the 2020 J.D. Energy Auto Claims Satisfaction Research.
| Insurance coverage Firm | J.D. Energy Rating | Common Annual Premium for Minimal Protection | Common Annual Premium for Full Protection |
|---|---|---|---|
| Grange | N/A | $328 | $2,033 |
| Geico | 871 / 1,000 | $335 | $1,233 |
| USAA | *890 / 1,000 | $350 | $1,331 |
| Allstate | 876 / 1,000 | $727 | $1,822 |
| American Household | 862 / 1,000 | $805 | $2,077 |
*As a consequence of restricted member eligibility, USAA isn’t thought of rank eligible.
USAA
AM Finest offers USAA an A++ (Superior) ranking. USAA can also be included within the 2020 J.D. Energy studis and receives excessive scores, however the supplier doesn’t formally qualify for rating as a result of it solely affords insurance coverage merchandise to members of the U.S. Navy, veterans and their spouses and kids. USAA affords members a variety of insurance coverage merchandise equivalent to auto loans, checking and financial savings accounts, dwelling mortgages and retirement plans.
USAA designs its insurance coverage merchandise to suit the distinctive wants of army households, together with these on deployment. Moreover, USAA’s elective coverages embrace automotive substitute help, which will increase the claims settlement of a totaled car by 20% of its precise money worth.
American Household
American Household has earned an A (Glorious) AM Finest monetary ranking and within the 2020 J.D. Energy Auto Insurance coverage Research, the provider ranked primary within the Southwest area. American Household’s KnowYourDrive usage-based insurance coverage program extends a ten% enrollment low cost, with the chance to earn as much as a further 20% low cost in case you keep protected driving habits.
American Household extends nice elective coverages. Its hole insurance coverage might help cowl the distinction between a claims settlement and the excellent stability of your automotive mortgage. American Household additionally affords elective unintended loss of life and dismemberment protection.
Geico
Amongst our prime 5 picks, Geico affords Colorado Springs drivers among the lowest common full protection premiums at $1,233 per yr. Geico has earned an A++ (Superior) AM Finest ranking and tied for first place within the 2020 J.D. Energy Auto Insurance coverage Research within the Southwest area.
Geico affords all the usual coverages you want, plus elective mechanical breakdown insurance coverage, which is obtainable for automobiles underneath 15 months previous, or with fewer than 15,000 miles on the odometer to cowl the entire automotive’s components and programs.
Allstate
Allstate ranked first in Florida and second within the Southwest area within the 2020 J.D. Energy Auto Insurance coverage Research. AM Finest offers the provider an A+ (Superior) monetary power ranking. Allstate continues to function native workplaces, with greater than 20 brokers in Colorado Springs. The power to name on a private agent is useful when it’s worthwhile to file a declare or purchase extra insurance coverage.
Allstate extends a great deal of reductions for purchasing a number of insurance policies, protected driving and car security and security measures. Allstate’s Drivewise usage-based insurance coverage program might help you save much more cash by monitoring your driving habits. When you drive safely, you could possibly earn money again on the finish of the coverage interval. Drivewise customers may also earn factors within the Allstate Rewards program, which might be redeemed for present playing cards and different perks.
Grange Insurance coverage Affiliation
Grange has earned an A- (Glorious) AM Finest monetary power ranking and an A+ Higher Enterprise Bureau ranking. Grange sells auto insurance coverage by means of unbiased companies, together with 5 in and round Colorado Springs. Amongst Bankrate’s listing of prime low-cost Colorado Springs auto insurers, Grange affords one of many lowest common minimal protection premiums at $328 per yr.
Grange affords hole insurance coverage, sound system protection and even endorsements to cowl leisure tools like motorhomes, snowmobiles and trailers. In case your car wants repairs, it can save you cash on a rental automotive by means of Grange’s value agreements with Enterprise and Hertz.
Least expensive automotive insurance coverage in Colorado Springs
Among the many hottest carriers, Auto-House owners, Farmers, Geico, State Farm and USAA provide the bottom common annual automotive insurance coverage premiums in Colorado Springs. The nationwide common auto insurance coverage premium is $565 per yr for minimal protection and $1,674 per yr for full protection, in comparison with the Colorado state common of $518 per yr for minimal protection and $2,016 per yr for full protection. Geico and USAA provide Colorado Springs drivers decrease minimal and full protection premiums than each state and nationwide averages.
| Insurance coverage Firm | Common Annual Premium for Minimal Protection | Common Annual Premium for Full Protection |
|---|---|---|
| Geico | $335 | $1,233 |
| USAA | $350 | $1,331 |
| Auto-House owners | $502 | $1,884 |
| Farmers | $545 | $2,162 |
| State Farm | $552 | $1,812 |
These common annual premiums don’t immediately replicate the quantity you’ll pay for auto insurance coverage. Many elements have an effect on automotive insurance coverage premiums, together with your age, annual mileage, and credit score historical past. For an correct protection estimate, request quotes from a number of auto insurance coverage firms.
Though value is necessary additionally contemplate every supplier’s claims submitting course of, customer support observe file, low cost applications and monetary power. Additionally select a provider that gives service the way in which you like to do enterprise. As an illustration, you might desire firms that function native companies or an insurer that allows you to contact an agent and file claims utilizing a cell app.
Colorado Springs insurance coverage necessities
Colorado regulation requires all drivers to hold sure minimal auto insurance coverage coverages, together with:
- $25,000 in bodily harm legal responsibility protection per individual and $50,000 in bodily harm legal responsibility per accident
- $15,000 in property harm legal responsibility to cowl damages in a single accident.
Keep in mind that purchasing state required minimal coverages may not present the complete monetary safety you want. In keeping with the U.S. Facilities for Medicare and Medicaid Providers, a three-day hospital keep prices a mean of $30,000. In case you are at fault for an accident, you could possibly face monetary duty for prices that exceed your coverage’s protection limits.
When you finance a automotive or lease a car, the lender would require you to purchase a full protection coverage, which incorporates state required protection in addition to each collision and complete protection.
Automobile insurance coverage reductions in Colorado Springs
A number of auto insurance coverage suppliers prolong a variety of reductions to Colorado Springs automotive homeowners, together with:
- Affiliation reductions
- Driver coaching course reductions
- Multi-policy and multi-vehicle reductions
- New automotive reductions
- Automobile security and safety reductions
Reductions fluctuate by supplier so store round to seek out an insurer that provides low cost applications for which you qualify. Oftentimes, a policyholder can qualify for a number of reductions. For instance, a younger driver might qualify for good pupil and driver coaching course reductions. Bundling auto and residential insurance coverage usually affords much more financial savings as some suppliers apply reductions to each insurance policies.
Often requested questions
What’s the finest automotive insurance coverage firm?
Discovering the perfect automotive insurance coverage firm can rely upon sure private elements. As an illustration, one provider would possibly provide good charges for folks with low credit score and one other might cost higher premiums for teen drivers. When purchasing for auto insurance coverage, search for insurers that supply a great mixture of reductions, coverages, monetary power and value.
How a lot does automotive insurance coverage in Colorado Springs value?
Primarily based on our analysis, Coloradans pay a mean annual premium of $518 for minimal protection and $2,016 for full protection. Colorado Springs drivers pay a mean annual premium of $607 for minimal protection and $2,178 for full protection, greater than state averages.
There are a number of low-cost auto insurers in Colorado, although the speed you’ll pay for auto insurance coverage will rely in your private ranking elements, together with your age, driving historical past, sort of auto and the categories and quantities of protection you want.
How a lot automotive insurance coverage do I want in Colorado Springs?
Colorado state regulation requires all drivers to hold at the very least $25,000 in bodily harm protection to pay the loss of life or harm bills of 1 individual in an accident and $50,000 to cowl the loss of life or harm bills of a number of folks. You have to additionally buy $15,000 in private property protection to pay for repairs to a different driver’s car or different kinds of property. Extra protection is advisable with a purpose to higher financially shield your self in case of an accident with a heftier declare.
Methodology
Bankrate makes use of Quadrant Info Providers to investigate charges for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted charges are based mostly on a 40-year-old female and male driver with a clear driving file, good credit score and the next full protection limits:
- $100,000 bodily harm legal responsibility per individual
- $300,000 bodily harm legal responsibility per accident
- $50,000 property harm legal responsibility per accident
- $100,000 uninsured motorist bodily harm per individual
- $300,000 uninsured motorist bodily harm per accident
- $500 collision deductible
- $500 complete deductible
To find out minimal protection limits, Bankrate used minimal coverages that meet every state’s necessities. Our pattern drivers personal a 2018 Honda Accord, commute 5 days per week and drive 12,000 miles yearly.
These are pattern charges and must be used for comparative functions solely. Your quotes could also be totally different.
