Who Has Affordable Colorado Springs Auto Insurance for a Company Car?

Establishing which companies have the lowest-priced auto insurance rates for a company car takes more work than just picking a company at random. Each auto insurance company uses a different method for filing rates in each state, so to begin we’ll rank the auto insurance companies with the most affordable rates in Colorado Springs.

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Rankings for the cheapest car insurance companies in Colorado
Rank Company Cost Per Year
1 The Hartford $834
2 Grange $978
3 USAA $1,029
4 GEICO $1,141
5 Nationwide $1,155
6 Auto-Owners $1,168
7 Travelers $1,171
8 State Farm $1,259
9 American Family $1,301
10 Progressive $1,322
11 Amica $1,340
12 Allied $1,453
13 California Casualty $1,502
14 Farmers $1,613
15 Colorado Farm Bureau $1,624
16 MetLife $1,885
17 Allstate $2,055
18 Encompass $2,231
19 Safeco $2,522
20 Titan $2,657
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The Hartford offers some of the lowest car insurance rates in Colorado Springs at around $834 a year. This is $744 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are also some of the more affordable Colorado Springs, CO auto insurance companies.

As shown above, if you are a policyholder with GEICO and switched to Grange, you may realize annual savings of about $163. Drivers with Nationwide may save as much as $177 a year, and Auto-Owners policyholders might see rate reductions of $190 a year.

Remember that these rates are averaged across all ages of drivers and types of vehicles and and are not figured with a specific location for a company car. So the car insurance company that can offer you the lowest price may not even be in the top 21 companies in the list above. That points out the importance of why you need to compare rates from multiple companies using your own specific driver information and vehicle.

For your employer’s vehicle, one of the more important considerations that help determine auto insurance rates is your address in Colorado Springs. More populated areas tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates receive better rates.

The table below ranks the most expensive places in Colorado for a company car to purchase a policy in. Colorado Springs makes the list at #13 with an annual cost of $1,277 for the average insured, which is about $106 monthly.

How much does car insurance cost in Colorado Springs, CO?
Rank City Average Per Year
1 Pueblo $1,412
2 Denver $1,383
3 Aurora $1,361
4 Lakewood $1,337
5 Commerce City $1,328
6 Centennial $1,304
7 Northglenn $1,303
8 Littleton $1,293
9 Security-Widefield $1,291
10 Ken Caryl $1,287
11 Thornton $1,281
12 Highlands Ranch $1,279
13 Colorado Springs $1,277
14 Brighton $1,273
15 Castle Rock $1,261
16 Arvada $1,256
17 Westminster $1,246
18 Parker $1,220
19 Longmont $1,179
20 Broomfield $1,179
21 Grand Junction $1,166
22 Boulder $1,159
23 Greeley $1,156
24 Loveland $1,074
25 Fort Collins $1,067
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Rates are estimated as specific location information can impact premiums substantially.

The vehicle driven is a significant factor that determines if you can find economical insurance for a company car. Vehicles with high performance features, a lack of advanced safety features, or an increased likelihood of liability claims will cost substantially more to insure than more economical and safe models.

The next table presents auto insurance costs for a number of the cheapest vehicles to insure in Colorado.

Cheapest Vehicles to Insure in Colorado Springs, CO
Insured Vehicle Estimated Cost for Full Coverage
Ford F-150 XLT Super Cab 4WD $1,354
Toyota Camry LE $1,399
Ford Explorer Limited AWD $1,426
Ford Focus SES 4-Dr Sedan $1,446
Ford Escape Limited 4WD $1,465
Hyundai Elantra SE Touring Station Wagon $1,473
Toyota Corolla LE $1,473
Honda Odyssey EX-L $1,482
Honda CR-V EX-L 4WD $1,485
Toyota Prius $1,497
Nissan Altima 3.5 SR 4-Dr Sedan $1,500
GMC Sierra SLE Regular Cab 4WD $1,506
Ford Fusion Sport 4-Dr Sedan $1,500
Jeep Wrangler Unlimited Rubicon 4WD 4-Dr $1,547
Chevrolet Impala LS $1,571
Toyota RAV4 Sport 4WD $1,601
Chevrolet Equinox LT 2WD $1,608
Dodge Grand Caravan Hero $1,601
Toyota Tacoma 2WD $1,677
Ford Edge Limited 2WD $1,685
Chevrolet Silverado 2500HD LT Crew Cab Diesel 2WD $1,697
Chevrolet Malibu Hybrid $1,712
Jeep Grand Cherokee Limited 2WD $1,717
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Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Estimates do not factor in garaging location in Colorado Springs, CO which can raise or lower auto insurance rates significantly.

Based upon the table data, cars like the Ford F-150, Toyota Camry, and Ford Explorer will be some of the more affordable vehicles to insure for your employer’s vehicle.

How to get discounts on Colorado Springs auto insurance rates

Auto insurance for your employer's vehicle in Colorado Springs, COAuto insurance companies that provide policies for a company car may also provide premium discounts that could lower prices by as much as 35% or more if you can meet the requirements. A list of companies and their possible discounts are detailed below.

The diagram below illustrates the comparison of annual premium costs with and without policy discounts. The costs are based on a female driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with accident-free, multiple vehicle, marriage, multiple policy, anti-theft, and safe-driver discounts applied. With discounts applied, theamount saved on auto insurance for a company car is 28% or $588.

Bad driving habits will cost you more

In a perfect world, the best way to find good auto insurance premiums in Colorado for your employer’s vehicle is to be a good driver and have a clean driving record. The diagram below demonstrates how speeding tickets and accidents can impact auto insurance rates for each age group. The information is based on a married female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.

The data in the chart shows the average cost of an auto insurance policy per year with no accidents or violations is $1,524. Get written up for two speeding tickets and the average cost rises to $2,158, an increase of $634 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of auto insurance for a company car increases to an average of $4,787. That’s an increase of $3,263, or $272 per month, just for not maintaining a clean driving record!

What aren’t you shopping around?

Colorado Springs auto insurance rates are based on many factors which can significantly increase or decrease the price you have to pay. Simply having a birthday, buying higher coverage limits, or getting a driving violation can cause premium changes that can now make some companies affordable when they were higher priced. Not only may your risk profile change, but insurance companies change rates as often as every quarter to reflect underwriting profits or losses. A period of higher than normal claims can cause additional premium costs, while a better claims history may result in cheaper Colorado Springs car insurance rates.

To illustrate this example, the data below shows a variety of companies that have the cheapest car insurance in Colorado Springs, CO for a 35-year-old female driver with a clear driving record, no claims, and a decent credit rating. If we estimate rates based on her current risk profile, The Hartford might offer the lowest car insurance rates in Colorado Springs at $1,059 annually. This is $519 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are the remainder of the most affordable Colorado Springs, CO auto insurance companies.

The next chart shows rates after we give the driver from the first set of rates a couple of claims, a lower credit score, and an imperfect driving record. Because each company has a unique formula to determining premium rates, comparing quotes could result in a different ranking of companies as shown below.

Travelers now has the cheapest rate in Colorado Springs with State Farm, American Family, Grange, and Progressive completing the list. This example proves why it is important to compare rates to find the lowest insurance rates for a company car. Insurance prices are calculated by many things and can change without notice, so the best option a year ago may now be an over-priced policy.