Who Has Affordable Auto Insurance for Retired Military in Colorado Springs?

Ideally, we could tell you the one company in Colorado Springs that has the most affordable coverage in Colorado. That is not the case, however, as there are a whole slew of unknown elements such as how high your deductibles should be, your annual mileage driven, and your credit rating. The information below will cover the types of things that cause high car insurance rates and will give you a good beginning to your search for cheaper coverage.

Finding reliable, affordable insurance is confusing at best, and determining which insurers offer the cheapest car insurance rates for retired military will involve more quotes for comparison. Every car insurance company has their own formula to determine premium rates, so let’s take a look at the most competitive car insurance companies in Colorado Springs, CO.

Best Cheap Insurance Rates for Vets

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Rankings for the cheapest Colorado auto insurance companies
Rank Company Cost Per Year
1 The Hartford $859
2 Grange $987
3 USAA $999
4 GEICO $1,152
5 Nationwide $1,155
6 Auto-Owners $1,156
7 Travelers $1,219
8 State Farm $1,222
9 American Family $1,275
10 Progressive $1,336
11 Amica $1,394
12 Allied $1,439
13 California Casualty $1,502
14 Colorado Farm Bureau $1,592
15 Farmers $1,613
16 MetLife $1,830
17 Allstate $1,994
18 Encompass $2,187
19 Safeco $2,547
20 Titan $2,711
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The Hartford may have some of the best car insurance rates in Colorado Springs at around $859 annually. This is $719 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide would also be considered some of the more affordable Colorado Springs, CO auto insurance companies.

In the above rates, if you are insured with USAA and switched to The Hartford, you could see annual savings of around $140. Drivers with GEICO may save as much as $293 a year, and Nationwide customers might reduce rates by $296 a year.

Be aware that those premium estimates are averages across all types of insureds and vehicles and do not factor in a specific zip code for retired military. So the auto insurance company that fits your situation best may not even be in the top 21 companies in the list above. That is why you need to compare rates from multiple companies using your own driver and vehicle profiles.

For veterans, one of the more important considerations that aid in calculating the annual cost of car insurance is where your residence is. More populated areas tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents benefit from lower rates.

The next table rates the priciest cities in Colorado for retired military to purchase car insurance in. Colorado Springs shows up at #5 with the yearly price of $1,329 for the average insured, which is about $111 per month.

How much is auto insurance in Colorado Springs, CO?
Rank City Annual Premium
1 Aurora $1,417
2 Pueblo $1,397
3 Denver $1,383
4 Lakewood $1,365
5 Colorado Springs $1,329
6 Commerce City $1,314
7 Ken Caryl $1,313
8 Centennial $1,304
9 Security-Widefield $1,304
10 Northglenn $1,303
11 Arvada $1,295
12 Westminster $1,284
13 Thornton $1,268
14 Littleton $1,267
15 Parker $1,257
16 Brighton $1,247
17 Highlands Ranch $1,241
18 Castle Rock $1,211
19 Boulder $1,207
20 Longmont $1,179
21 Broomfield $1,179
22 Greeley $1,156
23 Grand Junction $1,154
24 Loveland $1,063
25 Fort Collins $1,056
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Information shown are approximated as zip code location can raise or lower insurance rates noticeably.

The vehicle model you are buying coverage for is probably the most important factor when shopping around for cheaper car insurance for retired military. Vehicles with high performance features, poor safety features, or a high likelihood of having liability claims will cost substantially more to insure than safer, lower-performance models.

The next table presents coverage costs for the most economical vehicles to insure in Colorado.

Cheapest Vehicles to Insure in Colorado Springs, CO
Make and Model Estimated Cost for Full Coverage
Toyota Prius $1,206
Toyota Tacoma 2WD $1,265
Honda CR-V EX 4WD $1,277
Chevrolet Silverado LS Extended Cab 4WD $1,289
Chevrolet Malibu LT $1,315
Ford F-150 Lariat Super Cab 2WD $1,320
Ford Explorer Limited 4WD $1,315
Honda Civic VP 4-Dr Sedan $1,331
Jeep Wrangler Unlimited Sport 4WD 4-Dr $1,336
Honda Accord EX-L 4-Dr Sedan $1,353
Ford Escape Limited 4WD $1,362
Ford Edge Limited AWD $1,355
GMC Sierra SLE Crew Cab 2WD $1,381
Jeep Grand Cherokee Limited 4WD $1,386
Nissan Rogue SL AWD $1,450
Honda Odyssey LX $1,464
Chevrolet Impala LT $1,476
Toyota Corolla XLE $1,554
Toyota Camry XLE $1,561
Chevrolet Silverado 2500HD LTZ Crew Cab 2WD $1,568
Ford F-250 XL Super Cab Turbo Diesel 2WD $1,575
Dodge Grand Caravan Hero $1,580
Toyota RAV4 Limited 2WD $1,585
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Prices based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in specific location information which can decrease or increase insurance rates significantly.

Looking at the data, you can infer that models like the Toyota Prius, Toyota Tacoma, Honda CR-V, and Chevrolet Silverado should be a few of the most economical vehicles to insure for veterans.

Rate comparison of full coverage and liability-only

Finding the cheapest car insurance is important to most people, and one of the easiest ways to pay less for insurance for retired military is to not insure for full coverage. The information below visualizes the comparison of insurance rates with and without physical damage coverage. The costs are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.

As an overall average, physical damage coverage costs an extra $2,013 per year over and above liability only. That is a large expense which might make you wonder when is it safe to stop buying full coverage. There is no exact formula of when to stop paying for physical damage coverage on your policy, but there is a general convention. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your vehicle’s book value is $9,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after the policy deductible has been paid. If it’s costing you more than $800 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some scenarios where buying only liability insurance is not financially feasible. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not buy liability only.

Impact of citations and accidents on Colorado Springs insurance rates

The best way to enjoy cheap car insurance rates in Colorado Springs for veterans is to drive cautiously and avoid accidents and keep your driving record clean. The diagram below demonstrates how citations and accidents can drive up insurance costs for different age groups of insureds. The premiums assume a single male driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.

In the chart above, the average cost of auto insurance in Colorado Springs per year with no accidents or violations is $1,476. Receive two speeding tickets and the average cost hikes up to $1,940, an increase of $464 each year. Now add one accident along with the two speeding tickets and the yearly cost of car insurance for retired military jumps again to an average of $2,414. That’s an increase of $938, or $78 per month, just for not being more responsible behind the wheel!

Best car insurance company in Colorado Springs

Ending up with the right insurer can be a challenge considering how many companies there are to choose from in Colorado. The company ratings below may help you select which companies to look at when comparing rate quotes.

These rankings are only made up of companies that insure vehicles across America, so smaller regional companies are not included in the list. To compare prices and find the cheapest rates for retired military, just click here.

Top 10 Major Auto Insurance Companies in Colorado Springs Ranked by A.M. Best Rating

  1. USAA – A++
  2. Travelers – A++
  3. State Farm – A++
  4. GEICO – A++
  5. Esurance – A+
  6. Nationwide – A+
  7. Allstate – A+
  8. Progressive – A+
  9. Titan Insurance – A+
  10. The Hartford – A+

Top 10 Major Auto Insurance Companies in Colorado Springs Ranked by Value

  1. USAA
  2. American Family
  3. The Hartford
  4. Titan Insurance
  5. The General
  6. AAA Insurance
  7. State Farm
  8. Nationwide
  9. Safeco
  10. Esurance

How to find low-cost auto insurance for retired military

Below you’ll find some of the recommended money-saving suggestions that can help drivers quote cheaper coverage.

The last idea is certainly significant, as was pointed out in the prior information. Car insurance prices in Colorado Springs can change significantly in a year, so drivers shouldn’t hesitate to buy from a new company if you find a better deal. Staying with the same company for years is fine, but it’s not a great idea if that devotion results in you overpaying a small fortune. It takes less than five minutes to compare prices and find cheaper car insurance for retired military.

The Colorado Springs, CO, insurance agents below can most likely answer your questions and help you decide which policy is best, since some drivers wish to have professional advice when trying to find the best insurance rates for veterans. It can be time-consuming to find the best coverage on your own, and agents can provide peace of mind knowing you have enough coverage if you have a claim.

To find a Colorado Springs insurance agent nearest to you, click the button below the list or click here to compare price quotes.

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