Who Has Affordable Colorado Springs Auto Insurance for Nurses?

It’s impossible to miss the captivating ads from insurers like GEICO, The General, and Liberty Mutual that guarantee big savings, so drivers should just choose any of them, right?

Unfortunately, it’s just not that easy, as there are a whole bunch of unknown elements like the likelihood of vehicle theft where you live, what level of deductibles you need, the amount of coverage you want, and when you were born, that all impact the cost of your policy. This article will discuss the different ways to avoid overpaying and will hopefully give you a good start in finding the cheapest insurance.

Deciding which companies offer the lowest-priced insurance rates for nurses takes a little more work than just comparing a company or two. Each insurer has a unique formula for filing rates in each state, so we need to take a look at the insurance companies that tend to have lower prices in Colorado Springs.

It’s a good idea to know that Colorado Springs, CO insurance rates are impacted by many factors that control the policy premium. Simply getting older, moving to a new city, or getting a DUI can produce rate changes that can cause some rates to be cheaper than competitors.

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Cheapest auto insurance in Colorado ranked by cost per year
Rank Company Cost Per Year
1 The Hartford $825
2 Grange $949
3 USAA $1,029
4 Nationwide $1,109
5 Auto-Owners $1,156
6 GEICO $1,187
7 Travelers $1,207
8 State Farm $1,222
9 American Family $1,301
10 Progressive $1,336
11 Amica $1,381
12 Allied $1,453
13 California Casualty $1,488
14 Farmers $1,629
15 Colorado Farm Bureau $1,640
16 MetLife $1,830
17 Allstate $2,055
18 Encompass $2,187
19 Safeco $2,472
20 Titan $2,738
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The Hartford may offer some of the best car insurance rates in Colorado Springs at around $825 per year. This is $753 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners also qualify as some of the cheapest Colorado Springs, CO insurance companies.

In the rate table above, if you currently buy coverage from Auto-Owners and switched to Grange, you could realize a yearly savings of approximately $207. Insureds with GEICO may save as much as $238 a year, and Travelers customers might realize rate reductions of up to $258 a year.

Be aware that those prices are averaged across all insureds and vehicles and and are not figured with an exact vehicle garaging location for nurses. So the auto insurance company that fits your needs best may not even be in the top 21 companies in the list above. That helps illustrate why you need to get rate quotes using your own personal information and vehicle type.

The vehicle model that is being insured is probably the most important factor that determines whether or not you can buy cheaper coverage for nurses. Vehicles with economical engines, an excellent safety record, or low incidents of liability claims will cost less to insure than adrenaline junky models. The information below ranks auto insurance prices for the most economical automobiles to buy coverage for.

Cheapest Vehicles to Insure in Colorado Springs, CO
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda CR-V EX 2WD $1,167
Ford Edge Limited 2WD $1,350
Dodge Grand Caravan Hero $1,377
Toyota RAV4 Limited 2WD $1,386
Chevrolet Impala LT $1,377
Jeep Wrangler Unlimited Sport 2WD 4-Dr $1,402
Ford Explorer Eddie Bauer 4WD $1,404
Ford Focus SES 4-Dr Sedan $1,424
Honda Accord LX-P 4-Dr Sedan $1,431
Ford Escape XLS 2WD $1,441
Hyundai Sonata GLS 4-Dr Sedan $1,475
Ford F-150 XL Crew Cab 4WD $1,529
Nissan Altima 2.5 S 2-Dr Coupe $1,576
Toyota Camry Hybrid $1,586
Toyota Prius $1,586
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Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Rate information does not factor in the specific area where the vehicle is garaged which can affect premium rates significantly.

By looking at the data, we can presume that cars like the Honda CR-V, Ford Edge, Dodge Grand Caravan, and Toyota RAV4 will definitely be the more affordable vehicles to insure for health professionals.

For health professionals, one of the more important criteria that determine the price you pay for insurance is your zip code in Colorado Springs. Areas with more people or more claims will most likely have higher rates, whereas less populated areas have the luxury of lower rates.

The next table rates the highest-priced areas in Colorado for nurses to buy an auto insurance policy in. Colorado Springs makes the list at #9 with an annual cost of $1,290 for coverage, which is about $108 monthly.

Car insurance prices in Colorado Springs
Rank City Annual Rate
1 Pueblo $1,455
2 Denver $1,439
3 Aurora $1,375
4 Lakewood $1,337
5 Commerce City $1,314
6 Ken Caryl $1,313
7 Arvada $1,295
8 Security-Widefield $1,291
9 Colorado Springs $1,290
10 Northglenn $1,290
11 Thornton $1,281
12 Centennial $1,278
13 Westminster $1,272
14 Littleton $1,267
15 Castle Rock $1,248
16 Brighton $1,235
17 Highlands Ranch $1,229
18 Parker $1,220
19 Boulder $1,207
20 Broomfield $1,179
21 Longmont $1,144
22 Grand Junction $1,132
23 Greeley $1,110
24 Loveland $1,107
25 Fort Collins $1,056
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Premium costs are estimated as the specific garaging location can affect premiums considerably.

The information below illustrates how choosing a deductible can raise or lower annual premium costs when searching for cheap insurance for nurses. The premium estimates are based on a single male driver, full physical damage coverage, and no discounts are applied.

The chart above illustrates that a 40-year-old driver could lower their policy premium by $402 a year by changing from a $100 deductible to a $500 deductible, or save $606 by using a $1,000 deductible. Youthful drivers, like the 20-year-old category, can cut up to $1,332 each year just by using higher deductibles.

When choosing a higher deductible, it will be necessary to have emergency funds available to allow you to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Full coverage rates compared to liability only

Reducing the cost of insurance is important to most people, and an effective way to buy cheaper insurance for nurses is to buy only liability coverage. The diagram below compares annual premium costs with and without full coverage. The premium estimates are based on a clean driving record, no claims, $250 deductibles, drivers are not married, and no discounts are applied.

If we average the cost for all age groups, physical damage coverage costs an additional $2,508 per year more than just buying liability only. A very common question is if full coverage is worth the money. There is no exact rule for dropping comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

There are some scenarios where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, 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 totaled, you should not remove full coverage.

Impact of careless driving on insurance rates

The common sense way to obtain affordable insurance premiums for health professionals is to drive cautiously and avoid traffic citations and accidents. The chart below highlights how speeding tickets and at-fault claims increase car insurance rates for different age groups. The premiums assume a single female driver, full coverage, $500 deductibles, and no discounts are taken into consideration.

The data in the chart shows the average cost of auto insurance in Colorado Springs per year with a clean driving record and no accidents is $2,102. Get written up for two speeding tickets and the average cost hikes up to $2,813, an increase of $710 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of insurance for nurses increases to an average of $5,610. That’s an increase of $3,508, or $292 per month, just for not maintaining a clean driving record!

Why you should be shopping around

Colorado insurance rates are impacted by many factors which can substantially change the policy premium. Simply turning a year older, getting divorced, or getting a couple of tickets can produce rate changes resulting in some rates now being cheaper than before.

In addition, companies file new Colorado auto insurance rates multiple times each year to adjust for gains or losses. Significantly higher losses may cause price increases, while lower claim levels may result in more affordable Colorado Springs car insurance rates.

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 good driving record, no prior claims, and a good credit history. When comparing rates based on her current situation, The Hartford offers the lowest car insurance rates in Colorado Springs at $1,021 a year. This is $557 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO round out the rest of the most affordable Colorado Springs, CO auto insurance companies.

In this example, we will give the driver from the first example a claim, a lower credit rating, and a traffic ticket or two. Since every insurance provider has a different formula for filing rates in each state, analyzing rate quotes may now show a significantly different list of companies as shown below.

Auto-Owners now has the lowest price on auto insurance in Colorado Springs with State Farm, American Family, Grange, and Progressive also being competitive. This example shows why Colorado drivers need to do a thorough rate comparison to get cheap car insurance quotes for nurses. Auto insurance prices consist of many risk factors and can increase or decrease at any time, so the best company when you bought your policy may now be quite expensive.