For military personnel, one of the big considerations that are used to help calculate the annual cost of car insurance is the neighborhood you call home. Regions with more people or even just more weather-related claims tend to have higher rates, whereas areas with less crime or weather claims tend to receive slightly lower rates.
The illustration below shows the most expensive cities in Colorado for active military to purchase a policy in. Colorado Springs ranks #7 with a yearly premium of $1,329 for the average policy, which is about $111 monthly.
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Rate quotes are estimated as zip code location can revise price quotes significantly.
The make and model of vehicle driven is a large factor that determines if you can find low-priced auto insurance for active military. Vehicles with higher performance, a lack of safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than more modest models.
The information below estimates insurance rates for a handful of the cheaper automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$1,271|
|Ford Explorer Eddie Bauer 2WD||$1,276|
|Honda Accord EX 4-Dr Sedan||$1,283|
|Honda CR-V LX 2WD||$1,291|
|Chevrolet Equinox LS AWD||$1,343|
|Jeep Grand Cherokee Laredo 2WD||$1,349|
|Chevrolet Malibu LT||$1,370|
|Volkswagen Jetta S 2.5 Station Wagon||$1,386|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,395|
|Honda Odyssey EX-L W/Navigation||$1,418|
|Toyota Camry XLE||$1,423|
|Toyota Corolla XLE||$1,418|
|Hyundai Sonata GLS 4-Dr Sedan||$1,439|
|Ford Edge SEL 2WD||$1,444|
|Chevrolet Silverado LS Regular Cab 2WD||$1,463|
|Dodge Grand Caravan Hero||$1,473|
|Chevrolet Impala LS||$1,482|
|Toyota RAV4 Limited 2WD||$1,516|
|Kia Optima SX||$1,540|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,550|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,555|
|GMC Sierra 3500HD SLT Crew Cab 2WD||$1,567|
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Rate information does not factor in specific garaging location which can modify coverage rates considerably.
Based upon the rates shown, we can assume that models like the Ford Escape, Ford Explorer, and Honda Accord will be some of the most economical vehicles to insure for military personnel.
Get discounts on Colorado Springs auto insurance rates
Insurance providers that provide policies for active military may have policy discounts that can lower rates by as much as 25% or more if you can meet the requirements. Popular car insurance companies and their possible discounts can be read below.
- Travelers discounts include good student, continuous insurance, home ownership, new car, early quote, IntelliDrive, and multi-car.
- 21st Century policyholders can earn discounts including 55 and older, defensive driver, anti-lock brakes, theft prevention, and student driver.
- State Farm may include discounts for Drive Safe & Save, defensive driving training, accident-free, driver’s education, multiple autos, safe vehicle, and passive restraint.
- GEICO includes discounts for emergency military deployment, driver training, federal employee, good student, membership and employees, daytime running lights, and military active duty.
- SAFECO offers discounts for safe driver, drive less, homeowner, accident prevention training, anti-lock brakes, multi-car, and anti-theft.
- AAA may offer discounts for pay-in-full, AAA membership discount, good student, multi-car, multi-policy, and good driver.
The information below shows the comparison of auto insurance costs with and without discounts being applied to the rates. The costs are based on a female driver, no tickets, no at-fault accidents, Colorado state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with marriage, defensive driving course, claim-free, accident-free, homeowner, and vehicle safety discounts applied. When these discounts are applied, theaverage amount saved on car insurance for active military is 28% or $712.
Full coverage versus liability only rates
Buying cheaper car insurance is probably important to the majority of vehicle owners, and one of the quickest ways to pay less for insurance for active military is to not buy comprehensive and collision coverage. The chart below visualizes the comparison of auto insurance costs with full coverage and liability only. The premiums are based on no violations or claims, $100 deductibles, single status, and no discounts are factored in.
If averaged out across all ages, full coverage costs an additional $2,696 per year more than buying just liability insurance. At some point, about every driver wonders if full coverage is worth the money. There is no clear-cut rule that works best for making the decision to drop full coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s replacement value is $7,500 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $6,500 after the policy deductible has been paid. If premiums are more than $650 a year for your policy with full coverage, then it may be the right time to buy liability only.
The benefits of price comparisons
Colorado Springs, CO car insurance rates are impacted by many things that may substantially change the price of your policy. Simply having a birthday, marrying your spouse, or getting a ticket for careless driving can produce rate changes resulting in some rates now being more affordable than before.
Additionally, auto insurance companies amend pricing every year in order to offset underwriting gains or losses. Larger than normal claims can cause increased policy costs, while lower claims may produce more affordable Colorado Springs car insurance rates.
The graph below analyzes the cheapest car insurance in Colorado Springs, CO for a 40-year-old male driver with a clear driving record, no claims, and good financial standing. If we estimate prices based on his current rating profile, The Hartford might offer the lowest car insurance rates in Colorado Springs at $1,032 annually. This is $546 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are the remainder of the most affordable Colorado Springs, CO auto insurance companies.
The chart below compares rates after we give the driver from the first set of rates an accident claim, poor credit, and a few blemishes on his driving record. Due to the fact that every insurance company has their own process for setting rates, comparing rates may result in a slightly different list of affordable Colorado Springs car insurance companies as shown below.
Travelers now has the best auto insurance rate in Colorado Springs, CO with State Farm, American Family, Grange, and Progressive also having competitive pricing. This example illustrates why it is important to perform a complete rate comparison when trying to get the lowest car insurance quotes for active military. Prices are influenced by many different factors and change substantially, so the most economical company the last time you shopped your coverage around may now be an over-priced policy.
How to find budget-friendly car insurance for active military
The list below shows many money-saving ideas that can help Colorado Springs drivers find cheaper auto insurance.
- Avoid price increases by not filing claims
- Buy vehicles with good safety ratings
- Having at-fault accidents will increase rates
- Be a cautious driver
- Better credit rating means better rates
- Compare rates and switch if you can find a better deal
The last suggestion is remarkably critical, as we noted in the article above. Coverage prices change constantly, so don’t be unwilling to change insurance companies if you find a better deal. Having brand loyalty is commendable, but we do not recommend it if that faithfulness ends up costing you lots of hard earned cash every month. In just a few minutes you could compare rates and find cheaper auto insurance for active military in Colorado Springs.
If you have coverage questions and would like to have the advice of a professional agent when trying to find the best insurance rates for military personnel, the professional agents shown below are a good start to answer your questions and help you decide which coverages and limits you need. To locate a Colorado Springs auto insurance agent close to where you live, click the button at the bottom or click here to compare price quotes.
Farmers Insurance – Patricia Szeredy
6632 Delmonico Dr – Colorado Springs, CO 80919 – (719) 268-0080
Allstate Insurance: Dave Lohman
76 S Sierra Madre St b – Colorado Springs, CO 80903 – (719) 471-9271
American Family Insurance – Diane Christensen
1957 W Uintah St – Colorado Springs, CO 80904 – (719) 477-1636
John Youngdahl – State Farm Insurance Agent
600 N Tejon St – Colorado Springs, CO 80903 – (719) 475-8787