It would sure make life easier if we could just tell you the single company that has the lowest rates in Colorado. It’s just not that easy, however, as there are a whole slew of unknown factors such as whether you are a man or a woman, how far you drive each year, your financial stability, and the level of liability coverage you want. This article will cover the types of things that cause high car insurance rates and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance in Colorado Springs.
For older drivers, one of the largest components that determine auto insurance rates is where you live in Colorado Springs. Areas with high crime rates or more dense population tend to have more expensive auto insurance rates, whereas areas that tend to be more rural benefit from lower coverage costs.
The following table lists the most costly cities in Colorado for drivers over age 50 in which to buy car insurance. Colorado Springs is listed at #11 with the annual price of $1,290 for coverage, which is around $108 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Denver | $1,425 |
| 3 | Aurora | $1,403 |
| 4 | Commerce City | $1,368 |
| 5 | Security-Widefield | $1,343 |
| 6 | Northglenn | $1,329 |
| 7 | Lakewood | $1,324 |
| 8 | Thornton | $1,307 |
| 9 | Centennial | $1,304 |
| 10 | Littleton | $1,293 |
| 11 | Colorado Springs | $1,290 |
| 12 | Highlands Ranch | $1,279 |
| 13 | Ken Caryl | $1,274 |
| 14 | Arvada | $1,269 |
| 15 | Castle Rock | $1,261 |
| 16 | Westminster | $1,246 |
| 17 | Brighton | $1,235 |
| 18 | Parker | $1,220 |
| 19 | Broomfield | $1,215 |
| 20 | Boulder | $1,159 |
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Information shown are approximated as vehicle location can modify insurance rates significantly.
Shopping around for affordable auto insurance is confusing at best, and finding out which insurers offer the best insurance rates for drivers over age 50 will take even more rate comparisons. Every car insurance company has a unique approach to set policy rates, so we need to take a look at the insurance companies with the overall best prices in Colorado Springs, CO.
It’s a good idea to know that Colorado Springs, CO insurance rates are determined by lots of factors which can substantially change the policy premium. Events like a birthday, buying a newer car, or getting a ticket for careless driving may cause policy rate changes resulting in some rates now being affordable when they were higher priced.
Best Cheap Insurance Rates for Age 50+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $850 |
| 2 | Grange | $978 |
| 3 | USAA | $1,039 |
| 4 | Nationwide | $1,121 |
| 5 | GEICO | $1,141 |
| 6 | Auto-Owners | $1,156 |
| 7 | Travelers | $1,207 |
| 8 | State Farm | $1,246 |
| 9 | American Family | $1,262 |
| 10 | Progressive | $1,362 |
| 11 | Amica | $1,381 |
| 12 | Allied | $1,483 |
| 13 | California Casualty | $1,488 |
| 14 | Colorado Farm Bureau | $1,624 |
| 15 | Farmers | $1,629 |
| 16 | MetLife | $1,830 |
| 17 | Allstate | $2,055 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,657 |
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The Hartford offers some of the lowest car insurance rates in Colorado Springs at around $850 a year. This is $728 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also are some of the lowest-priced Colorado Springs, CO car insurance companies.
As shown above, if you have coverage with Nationwide and switched to Grange, you may realize an annual premium reduction of in the neighborhood of $143. Insureds with GEICO might save as much as $163 a year, and Auto-Owners customers might realize rate reductions of up to $178 a year.
Be aware that those prices are averages for all types of insureds and vehicles and and are not calculated with an exact vehicle garaging location for drivers over age 50. So the auto insurance company that has the cheapest price for you may not even be in the top 21 companies shown above. That points out the importance of why you need to compare prices as often as possible using your own individual information.
The car, truck, or SUV you are insuring is one of the main factors when shopping around for cheaper auto insurance for drivers over age 50. Vehicles with limited speed and performance, modern passenger safety features, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models. The list below presents insurance rates for a number of the most cost-effective vehicles to insure in Colorado.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,136 |
| Honda Accord LX 4-Dr Sedan | $1,141 |
| Hyundai Elantra GLS Touring Station Wagon | $1,136 |
| Honda CR-V EX-L 4WD | $1,160 |
| Honda Odyssey LX | $1,247 |
| Toyota Prius | $1,259 |
| Ford F-150 XL Super Cab 4WD | $1,271 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,277 |
| Honda Civic DX 4-Dr Sedan | $1,319 |
| Chevrolet Impala LS | $1,325 |
| Ford Edge SEL 2WD | $1,319 |
| Toyota RAV4 Sport 4WD | $1,343 |
| Chevrolet Malibu LS | $1,348 |
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Price information does not factor in specific location which can revise rates substantially.
Based upon the rates shown, models like the Ford Escape, Honda Accord, Hyundai Elantra, Honda CR-V, and Honda Odyssey are going to be some of the most budget-friendly vehicles to insure for older drivers.
The information below highlights how deductible choice can influence premium costs when getting quotes for cheap insurance for drivers over age 50. The rate quotes are based on a married male driver, full coverage, and no discounts are factored in.
The chart above illustrates that a 30-year-old driver could reduce rates by $378 a year by changing from a $100 deductible to a $500 deductible, or save $570 by changing to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could roll back prices as much as $1,138 every year by choosing a larger deductible amount.
If you make the decision to raise deductibles, it is important to have enough in a savings account to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Colorado insurance company ratings
Ending up with a high-quality company is hard considering how many different companies insure vehicles in Colorado Springs. The company rank data shown below can help you decide which auto insurance companies to look at comparing price quotes from.
These ratings are only made up of companies who write in the majority of U.S. states, so companies with more of a regional focus are not taken into consideration for the list. To compare prices from these and other companies in Colorado, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Travelers | 80 | 87 | 87 | 83% | A++ | 85.2 |
| Farmers Insurance | 78 | 87 | 88 | 79% | A | 84.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
If you aren’t clear which coverage you need and would like to get some professional advice when shopping for cheaper insurance for older drivers, the insurance agencies below can probably provide answers to your questions and help you determine which car insurance company is the best fit.
To locate a Colorado Springs auto insurance agent in your neighborhood, click the button following the list.
Tom Harbert – State Farm Insurance Agent
8027 Academy Blvd N – Colorado Springs, CO 80920 – (719) 594-4500
Tom Calvin – State Farm Insurance Agent
1311 E Fillmore St – Colorado Springs, CO 80907 – (719) 473-3600
John Youngdahl – State Farm Insurance Agent
600 N Tejon St – Colorado Springs, CO 80903 – (719) 475-8787
Allstate Insurance: Dave Lohman
76 S Sierra Madre St b – Colorado Springs, CO 80903 – (719) 471-9271
American Family Insurance – Michael Brandl Agency Inc.
1965 Dominion Way Ste 120 – Colorado Springs, CO 80918 – (719) 630-7557
More insurance agents in Colorado Springs, CO
How to find the cheapest car insurance for drivers over age 50
It’s not impossible to find cheaper rates, and here are some of the better penny-pinching ideas that can help drivers locate more affordable coverage.
- Vehicles with good safety ratings are usually cheaper to insure
- Earn a discount by not filing claims
- Being accident-free can lower rates significantly
- Bundle home and auto and save
- Save money by obeying traffic laws and keeping a clean driving record
- Compare rates regularly and switch companies to save money
The last item on the list is highly vital, as was noted in this write-up. Auto insurance rates can change considerably in a year, so drivers shouldn’t be reluctant to change to a new company if you can find a cheaper rate.
Having brand loyalty is commendable, but it’s not a great idea if that devotion results in you overpaying hundreds every year. Now is a great time to shop around to find cheaper insurance for drivers over age 50 in Colorado Springs.