Things would sure be easy if we could simply give you the name of the one car insurance company that has the lowest rates in Colorado. It's just not that simple, as there are a whole bunch of unknowns like when you were born, if you own or rent your home, and the deductible level you need. We will touch on the different ways you can keep rates low and will hopefully give you a good start in finding the cheapest insurance in Colorado Springs.
Establishing which company offers the lowest-priced auto insurance rates for single moms may require a tad more effort than just picking a company at random. Every insurance company uses different criteria for determining rates, so we'll take a look at the most budget-friendly auto insurance companies in Colorado Springs, CO.
It's a good idea to be aware that Colorado Springs, CO auto insurance rates are based on many factors which can substantially decrease or increase the policy price. Simply getting older, buying higher coverage limits, or getting a ticket for running a stop sign may prompt premium changes that can cause some rates to be cheaper than competitors.
Find Cheaper Auto Insurance for Single Moms
The Hartford normally has some of the lowest car insurance rates in Colorado Springs at around $825 each year. Grange, USAA, Nationwide, and Auto-Owners also rank well as some of the best Colorado Springs, CO auto insurance companies.
As shown in the table above, if you currently have coverage with Nationwide and switched to The Hartford, you could see yearly savings of roughly $284. Policyholders with Auto-Owners may save as much as $343 a year, and GEICO insureds might lower prices by $362 a year.
To find cheaper insurance rates for your vehicle, click here to get a free quote or feel free to get quotes from the companies below.
Remember that these premiums are averaged for all insureds and vehicles and and are not figured with an exact zip code location for single moms. So the car insurance company that is best suited for you may not even be in the list above. That affirms the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.
The make and model of vehicle you are buying coverage for is a large consideration when trying to find affordable insurance for single moms. Vehicles with more horsepower, a lack of safety features, or a track record of large liability claims will cost much more to insure than more modest models.
The table below shows insurance costs for a number of the most budget-friendly automobiles to insure in Colorado.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,159|
|Ford Focus SE 4-Dr Sedan||$1,342|
|Honda CR-V EX 4WD||$1,350|
|Toyota RAV4 Limited 4WD||$1,369|
|Chevrolet Malibu LT||$1,396|
|Honda Accord LX 4-Dr Sedan||$1,418|
|Ford Escape Limited 4WD||$1,433|
|Toyota Camry XLE||$1,440|
|Chevrolet Impala LTZ||$1,445|
|Hyundai Sonata GLS 4-Dr Sedan||$1,467|
|Honda Odyssey Touring||$1,476|
|Chevrolet Silverado LT Extended Cab 2WD||$1,467|
|Jeep Grand Cherokee SRT-8 4WD||$1,477|
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Table data does not factor in specific Colorado Springs, CO garaging location which can decrease or increase coverage rates substantially.
Based upon the rates shown, you can conclude that vehicles like the Hyundai Elantra, Ford Focus, Honda CR-V, Toyota RAV4, and Chevrolet Malibu are a few of the cheaper vehicles to insure for single parents.
The diagram below shows how choosing a deductible can affect insurance costs when searching for cheap insurance for single moms. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 40-year-old driver could save $244 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $370 by selecting a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could roll back prices $814 or more by using a higher deductible.
When choosing a higher deductible, it will be necessary to have additional funds squirreled away to cover the extra out-of-pocket expense associated with higher deductibles.
Types of discounts on Colorado Springs insurance rates
Car insurance companies that provide policies for single moms may also give you discounts that could reduce prices by as much as 35% or more if you qualify for them. The best auto insurance companies and some of their more popular discounts are:
- The Hartford has savings for defensive driver, good student, bundle, air bag, driver training, and vehicle fuel type.
- American Family includes discounts for TimeAway discount, defensive driver, good student, bundled insurance, early bird, and mySafetyValet.
- Progressive offers discounts for multi-policy, continuous coverage, homeowner, good student, and online signing.
- Travelers may offer discounts for hybrid/electric vehicle, multi-car, payment discounts, good student, and home ownership.
- Farmers Insurance offers premium reductions for homeowner, alternative fuel, youthful driver, electronic funds transfer, business and professional, bundle discounts, and distant student.
- USAA offers discounts including family discount, military installation, loyalty savings, multi-policy, and vehicle storage.
- Liberty Mutual discounts include safety features, multi-policy, newly retired, preferred payment discount, good student, and hybrid vehicle.
The example below compares car insurance rates with and without discounts applied to the policy premium. The rates are based on a male driver, no claims or driving violations, Colorado state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, marriage, multiple vehicle, multiple policy, anti-theft, and safe-driver discounts applied. When discounts are applied, theaverage yearly reduction on auto insurance for single moms is 28% or $555.
Why you should be shopping around
Colorado auto insurance rates are determined by lots of factors which can substantially change the cost of your policy. Improving your credit rating, getting divorced, or getting a reckless driving citation may generate price changes that may make certain companies cheaper than before.
Also, companies amend pricing as often as every three months in order to protect their financial rating. An unexpected high level of claims may result in more expensive prices, while a lower level of claims can result in lower-cost Colorado Springs car insurance rates.
To illustrate this point, the data below shows a variety of companies that have the cheapest car insurance in Colorado Springs, CO for a 30-year-old male driver with no prior accidents, a clean driving record, and a high credit rating. If we estimate prices based on his personal risk profile, The Hartford has the cheapest car insurance rates in Colorado Springs at $1,048 a year. This is $530 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also make the list of the cheapest Colorado Springs, CO auto insurance companies.
In this next rate comparison, we will give the driver from the first example a claim or two, a lower credit score, and a speeding ticket. Because every insurance company uses their own formula to establish rates, analyzing rates may now present a completely different list of companies as shown below.
State Farm now has the cheapest insurance rate in Colorado Springs, CO with Travelers, American Family, Grange, and USAA now rounding out the top five. This example proves why it is so important to compare rates when trying to find cheap auto insurance rates for single moms.
Car insurance prices can be altered by many different factors and can increase or decrease at any time, so the cheapest option the last time you compared rates may now be one of the higher cost companies.
If you have questions and prefer to have the advice of a professional agent when trying to find the best insurance rates for single parents, the agents below are willing to help you decide which auto insurance coverages would be the best in your situation. To locate a Colorado Springs car insurance agency close to you, click the button following the list or click here to compare prices now.
- Brandon Kolk - State Farm Insurance Agent
12229 Voyager Pkwy Ste 100 - Colorado Springs, CO 80921 - (719) 599-3600
- American Family Insurance - Steve Stiltner
4549 Austin Bluffs Pkwy - Colorado Springs, CO 80918 - (719) 596-8812
- State Farm: Dan Lewis
1867 S Academy Blvd - Colorado Springs, CO 80916 - (719) 434-3944