Wouldn’t it be perfect if we could instantly tell you the company that has the best deal on coverage for a school permit? Unfortunately, it’s not that simple as there are a whole slew of unknown aspects like if you own a home, whether you are male or female, the likelihood of vehicle theft where you live, and what level of deductibles you need. The information below will cover the different scenarios that increase car insurance cost and educate you enough to have a good beginning to your quest for cheaper car insurance.
Finding dependable, budget insurance is confusing at best, and finding out which companies quote the most affordable insurance rates for a school permit will require even more work. Each auto insurance company has their own guidelines for determining prices, so first let’s look at the rankings for the insurance companies that tend to have lower prices in Colorado Springs.
Find the Cheapest Auto Insurance for Students
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
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The Hartford quotes some of the lowest car insurance rates in Colorado Springs at around $850 each year. Grange, USAA, GEICO, and Nationwide also are some of the cheapest Colorado Springs, CO car insurance companies.
As shown above, if you currently have a policy with Nationwide and switched to Grange, you could see yearly savings of roughly $197. Policyholders with Auto-Owners could save as much as $246 a year, and Travelers customers might reduce rates by $249 a year.
Remember that these policy rates are averaged across all types of insureds and vehicles and are not factoring in a specific location for a school permit. So the auto insurance company that has the cheapest rates for you may not even be in the top 21 companies in the list above. That is why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
The car, truck, or SUV you are insuring is one of the primary factors when trying to find the best cheap coverage for a school permit. Vehicles with average performance, modern passenger safety features, or a low likelihood of having liability claims will cost much less to insure than higher performance models.
The table below presents insurance premiums for a handful of the most affordable vehicles to insure in Colorado.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$4,632|
|Honda CR-V EX-L 4WD||$4,673|
|Ford Explorer XLT 2WD||$5,215|
|Volkswagen Jetta SE 2.5 Station Wagon||$5,281|
|Ford Edge Limited 2WD||$5,455|
|Chevrolet Impala LS||$5,461|
|Toyota RAV4 2WD||$5,497|
|Chevrolet Equinox LT 2WD||$5,505|
|Toyota Camry LE||$5,497|
|Dodge Grand Caravan Crew||$5,538|
|Ford F-150 Lariat Crew Cab 2WD||$5,546|
|Ford Focus SEL 4-Dr Sedan||$5,739|
|Hyundai Elantra SE 4-Dr Sedan||$5,781|
|Honda Odyssey EX-L W/Rear Entertainment||$5,787|
|Toyota Tacoma X-Runner 2WD||$5,781|
|Toyota Corolla XLE||$5,791|
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Price data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in zip code location which can decrease or increase coverage rates significantly.
Looking at the rates, cars like the Ford Escape, Honda CR-V, and Toyota Prius will definitely be some of the more affordable vehicles to insure for a learners permit. The cost of auto insurance will be more costly because of the fact that there is more liability risk for a school permit, but generally speaking those specific models will probably have the best insurance prices compared to all other vehicles.
For a learners permit, one of the more important factors that are used to help calculate the annual cost of car insurance is your zip code. Cities with larger populations tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The following table ranks the most expensive cities in Colorado for a school permit to buy auto insurance in. Colorado Springs is ranked at #5 costing $1,329 for the average policyholder, which is approximately $111 per month.
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Table data uses estimated as the specific garaging location can raise or lower coverage rates substantially.
Full coverage versus liability only rates
Paying less for insurance is probably important to the majority of drivers, and an easy way to find cheap insurance for a school permit is to buy only liability coverage. The example below compares premium costs with and without physical damage coverage. The data assumes no claims, a clean driving record, $1,000 deductibles, single marital status, and no policy discounts are applied.
If averaged for all ages, physical damage coverage costs an additional $1,598 per year more than insuring for liability only. That may make you wonder if full coverage is worth the money. There is no set rule for excluding comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
How careless driving impacts insurance rates
The easiest method to snag cheap insurance premiums in Colorado Springs for a learners permit is to drive attentively and avoid accidents and traffic violations. The illustration below illustrates how violations and at-fault accidents can impact yearly insurance costs for different ages of insureds. The price estimates are based on a single female driver, full coverage, $1,000 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of car insurance per year with no accidents or violations is $1,878. Add in two speeding tickets and the average cost hikes up to $2,501, an increase of $623 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of insurance for a school permit increases to an average of $5,123. That’s an increase of $3,246, or $270 per month, just for not being a responsible driver!
How to find cheaper insurance for a school permit
Below you’ll find a few thrifty suggestions that can help Colorado drivers quote more affordable coverage.
- Pay less by remaining claim-free
- Drop full coverage on older vehicles
- Choose a safer vehicle and pay lower rates
- Buying your home and auto policies from the same company can earn a discount
- Be a cautious driver
- Accidents can significantly increase rates
- Shop around once a year for cheaper rates
The last tip is incredibly valuable, as was affirmed in the prior article. Car insurance rates change frequently, so don’t be hesitant to buy from a different company if a better rate can be found. Brand loyalty is not necessarily bad, but it’s not a good idea if your bullheadedness ends up costing you a fortune every year. It takes less than five minutes to compare rates and find cheaper insurance for a school permit in Colorado Springs.
The auto insurance agents in Colorado Springs shown below are a good start to answer your questions and help you decide which car insurance policy is best, since some drivers wish to have the advice of a professional agent when comparing insurance rates for a school permit. It can be hard to find the best policy yourself, so getting advice from a licensed Colorado insurance agent can provide peace of mind knowing you have suitable coverage if you have an accident.
To locate a Colorado Springs car insurance agency in your neighborhood, click the link at the bottom or click here to compare prices now.
ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave – Colorado Springs, CO 80904 – (719) 473-6262
12710 Voyager Pkwy – Colorado Springs, CO 80921 – (719) 582-2759
Springs Insurance Brokers
1837 Austin Bluffs Pkwy #101 – Colorado Springs, CO 80918 – (719) 268-1300
American Family Insurance – Diane Christensen
1957 W Uintah St – Colorado Springs, CO 80904 – (719) 477-1636