Key Takeaways
- State Farm has the most affordable car insurance in Colorado Springs, charging monthly rates of $62 for minimum coverage and $111 for full coverage.
- On average, Colorado drivers pay $214 a month for full-coverage insurance — that’s significantly less than the nationwide average of $369 a month.
- In many cases, USAA has even better rates than State Farm, although the group’s policies are reserved for military members and their families.
In this article
The cheapest car insurance companies in Colorado Springs, CO
Based on our survey of providers, State Farm has the cheapest car insurance rates for most drivers in Colorado Springs. State Farm has the lowest premiums for:
- Full and minimum coverage
- Senior drivers
- Young drivers
- Drivers with a prior incident on their record
State Farm may or may not have the cheapest car insurance rates for you. The best way to find out which company offers the lowest rates for the type and amount of coverage you need is to compare auto insurance quotes from several companies.
Colorado car insurance state minimums
Colorado drivers are required by law to carry liability car insurance coverage for bodily injuries and potential property damage caused by an accident. That coverage must meet the following amounts:
| Coverage type | State requirements |
|---|---|
| Bodily injury liability | $25,000 per person / $50,000 per accident |
| Property damage liability | $15,000 per accident |
Cheapest minimum-coverage auto insurance rates in Colorado Springs: State Farm
The cheapest minimum-coverage auto insurance comes from State Farm, where drivers pay an average rate of $62 a month.
In Colorado Springs, the average cost of minimum-coverage car insurance costs $108 a month, meaning State Farm offers a 43% discount.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $62 |
| GEICO | $85 |
| Progressive | $101 |
| Allstate | $109 |
| Nationwide | $116 |
| American Family | $143 |
| Farmers | $194 |
| USAA | $52 |
| Rates are for minimum-coverage car insurance for a 35-year-old male with a good driving record. | |
Get the cheapest car insurance in Colorado Springs
Cheapest full-coverage auto insurance rates in Colorado Springs: State Farm
State Farm leads the way in Colorado Springs with the cheapest full-coverage car insurance rates. The company’s average monthly premium of $111 for full-coverage policies is by far the lowest in the city.
Citywide, the average cost of full-coverage car insurance is $194 a month, so State Farm drivers pay 43% less.
Full-coverage car insurance usually refers to a policy that includes liability, comprehensive and collision coverages. Drivers may also add coverage for towing fees, rental cars, medical fees and more.
No state requires full coverage, but many lessors and lenders do. It’s also a good way to protect yourself if you drive a new or especially expensive vehicle.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $111 |
| Progressive | $171 |
| GEICO | $197 |
| American Family | $206 |
| Allstate | $206 |
| Nationwide | $239 |
| Farmers | $315 |
| USAA | $106 |
| Rates are for full-coverage car insurance for a 35-year-old male with a good driving record. | |
Cheapest car insurance in Colorado Springs for drivers with bad credit: State Farm
State Farm leads the way for drivers with bad credit, offering full-coverage car insurance for an average cost of $223 a month.
Citywide, drivers with bad credit pay a mean of $319 a month. State Farm’s rate of $223 is 30% less than that.
Unfortunately, bad credit can contribute to a higher car insurance rate. This is due to research that has shown drivers with lower credit scores to be at a higher risk for accidents and other incidents.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $223 |
| GEICO | $292 |
| Progressive | $296 |
| Nationwide | $312 |
| Allstate | $339 |
| American Family | $349 |
| Farmers | $517 |
| USAA | $221 |
| Rates are for full-coverage car insurance for a 35-year-old male with poor credit and a good driving record. | |
Cheapest car insurance for drivers with a prior incident
In Colorado Springs, State Farm has the best rates for drivers with a speeding ticket, at-fault accident or DUI on their record.
Cheapest for drivers with a speeding ticket: State Farm
State Farm offers the lowest car insurance rates for drivers with a speeding ticket on their records. On average, customers there pay $121 a month for full coverage.
A speeding ticket can significantly impact your car insurance premiums. For example, the average rate for Colorado Springs drivers with a speeding ticket is $242 a month — almost $50 more than the overall citywide average of $194.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $121 |
| Progressive | $220 |
| Allstate | $225 |
| American Family | $240 |
| GEICO | $264 |
| Nationwide | $308 |
| Farmers | $431 |
| USAA | $132 |
| Rates are for full-coverage car insurance for a 35-year-old male with one speeding ticket on his driving record. | |
Cheapest for drivers with an at-fault accident: State Farm
Drivers with an at-fault accident should also head to State Farm for cheap auto insurance, where they’ll pay $131 a month, on average.
Perhaps unsurprisingly, an at-fault accident can affect your insurance costs even more than a speeding ticket. In fact, our research shows that one such accident will increase your coverage by an average of 45%.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $131 |
| Progressive | $250 |
| American Family | $281 |
| Allstate | $315 |
| GEICO | $372 |
| Nationwide | $401 |
| Farmers | $433 |
| USAA | $153 |
| Rates are for full-coverage car insurance for a 35-year-old male with one at-fault accident on his driving record. | |
Cheapest for drivers with a DUI: State Farm
Drivers with a DUI will find the cheapest car insurance rates at State Farm, where full coverage costs an average of $121 a month.
In Colorado Springs, drivers with a DUI on their record pay an average of $294 a month for car insurance. That amount is a full $100 more than the citywide average of $194.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $121 |
| Progressive | $203 |
| American Family | $240 |
| Allstate | $263 |
| GEICO | $365 |
| Farmers | $421 |
| Nationwide | $520 |
| USAA | $214 |
| Rates are for full-coverage car insurance for a 35-year-old male with one DUI on his driving record. | |
Compare car insurance quotes from top companies in Colorado
Cheapest car insurance for senior drivers: State Farm
Senior drivers should also head to State Farm for the most affordable auto insurance premiums. There, they’ll find an average monthly rate of just $102 a month.
Generally, senior drivers pay less for car insurance than their younger counterparts. This is because they’re seen as experienced drivers who are at low risk to cause accidents.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $102 |
| Progressive | $155 |
| GEICO | $178 |
| American Family | $178 |
| Allstate | $186 |
| Nationwide | $203 |
| Farmers | $293 |
| USAA | $103 |
| Rates are for full-coverage car insurance for a 65-year-old male with a clean driving record. | |
Cheapest car insurance for young drivers: State Farm
State Farm has the cheapest car insurance for young drivers in Colorado Springs, too. For full coverage, teen drivers insured by State Farm pay an average of $295 a month. For minimum coverage, they pay $159.
Younger drivers traditionally cost more to insure than older drivers, which is evidenced by Colorado Springs’ average monthly rates. For full coverage, teen drivers pay $598 a month on average, while 35-year-old drivers pay just $194.
| Insurance company | Minimum coverage | Full coverage |
|---|---|---|
| State Farm | $159 | $295 |
| GEICO | $231 | $555 |
| American Family | $285 | $428 |
| Allstate | $311 | $574 |
| Nationwide | $391 | $806 |
| Progressive | $410 | $814 |
| Farmers | $651 | $1,055 |
| USAA | $123 | $253 |
| Rates are for an 18-year-old male with a clean driving record. | ||
Cheapest car insurance for married drivers: State Farm
Married drivers in Colorado Springs will find the cheapest car insurance at State Farm, where the average monthly premium is $111.
Often, married drivers pay less than single drivers for car insurance. That’s true in Colorado Springs, where the average cost for married drivers is $187, compared to $194 for single drivers of the same age.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $111 |
| Progressive | $152 |
| American Family | $182 |
| Allstate | $203 |
| Nationwide | $211 |
| GEICO | $243 |
| Farmers | $302 |
| USAA | $95 |
| Rates are for full-coverage car insurance for a married 35-year-old male with a good driving record. | |
Car insurance laws in Colorado
No-fault car insurance
Colorado is not a no-fault state. Instead, it is an at-fault (or tort) state, meaning drivers can sue others for damages inflicted during an accident. If the suit is successful, then the at-fault driver’s insurance company pays for the victim’s costs.
Financial Responsibility Insurance Certificate (SR-22)
In Colorado, drivers must obtain a Financial Responsibility Insurance Certificate (or SR-22 form) if they’re in the process of having their license reinstated after a DUI, uninsured accident or another similar incident.
Colorado Springs car insurance: FAQs
State Farm has the cheapest car insurance in Colorado Springs, charging $62 a month for minimum coverage and $111 for full coverage.
For full-coverage car insurance, Colorado Springs drivers pay an average rate of $194 a month. For minimum coverage, the average cost is $108.
State Farm has the cheapest car insurance rates for drivers with a speeding ticket, at-fault accident or DUI on their records. It charges an average rate of $121 a month to drivers with a ticket, $131 to drivers with an accident and $121 to drivers with a DUI.
This is for full coverage; you may get a lower rate if you buy minimum coverage instead.
Methodology
The rates shown in this article are based on an analysis of more than 300,000 auto insurance quotes obtained from Quadrant Information Services for sample drivers from across Colorado Springs, Colorado.
Unless otherwise noted, our sample driver is a single 35-year-old with good credit. All sample drivers own a 2012 Honda Accord LX that they drive for an average of 13,500 miles per year.
Our senior base driver is a 65-year-old male with a good driving record. Our young base driver is an 18-year-old male with a good driving record.
Minimum-coverage rates reflect the cost of policies meeting the minimum liability limits required by the state.
Full-coverage policies include the following coverages, limits and deductibles:
- Bodily injury liability: 100,000 limit per person/$300,000 limit per accident
- Property damage liability: $100,000 limit
- Collision: $500 deductible
- Comprehensive: $500 deductible
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