What Auto Insurance is Cheapest for Good Students in Colorado Springs?

The vehicle model to be insured is one of the largest considerations when looking for cheaper insurance for good students. Vehicles with average performance, a plethora of safety features, or a low likelihood of having liability claims will cost less to insure than fast, unsafe models.

The data below shows car insurance rates for a selection of the cheaper vehicles to insure in Colorado.

Cheapest Vehicles to Insure in Colorado Springs, CO
Make, Model, and Trim Level Estimated Cost for Full Coverage
Ford Escape XLT 2WD $4,596
Honda CR-V EX-L 2WD $4,637
Honda Accord EX-L 4-Dr Sedan $4,918
Toyota Prius $4,962
Dodge Grand Caravan CV $5,170
Toyota Tacoma 4WD $5,180
Chevrolet Impala LS $5,409
Ford Edge Limited 2WD $5,419
Volkswagen Jetta S 4-Dr Sedan $5,450
Toyota RAV4 Sport 4WD $5,457
Toyota Camry LE $5,450
Ford Explorer Eddie Bauer AWD $5,494
Hyundai Elantra Blue 4-Dr Sedan $5,687
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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 safe-driver, and claim-free. Rate quotes do not factor in specific zip code location which can lower or raise coverage rates greatly.

Looking at the data, cars like the Ford Escape, Honda CR-V, and Honda Accord are some of the most affordable vehicles to insure for student drivers.

Trying to find affordable car insurance is not always easy, and figuring out which companies have the cheapest auto insurance rates for good students will involve even more shopping around.

Every insurance provider uses their own formula to establish rates, so let’s take a look at the most budget-friendly auto insurance companies in Colorado.

Best Car Insurance Prices for Students

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Rankings for the cheapest Colorado auto insurance companies
Rank Company Cost Per Year
1 The Hartford $834
2 Grange $958
3 USAA $1,029
4 Nationwide $1,121
5 GEICO $1,152
6 Auto-Owners $1,156
7 Travelers $1,183
8 State Farm $1,259
9 American Family $1,301
10 Progressive $1,376
11 Amica $1,381
12 Allied $1,439
13 California Casualty $1,502
14 Farmers $1,565
15 Colorado Farm Bureau $1,640
16 MetLife $1,866
17 Allstate $2,015
18 Encompass $2,165
19 Safeco $2,472
20 Titan $2,630
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The Hartford has some of the best car insurance rates in Colorado Springs at around $834 per year. Grange, USAA, Nationwide, and GEICO also are some of the best Colorado Springs, CO insurance companies.

In this example, if you are currently insured with GEICO and switched to Grange, you could earn yearly savings of in the vicinity of $194. Policyholders with Auto-Owners might save as much as $198 a year, and Travelers customers might reduce rates by $225 a year.

It’s important to note that these premium estimates are averages across all drivers and vehicles and are not factoring in a specific zip code for good students. So the car insurance company that has the cheapest price for you may not even be in the list above. That is why you need to get car insurance quotes using your own driver information and specific vehicle type.

Cost of full coverage in Colorado Springs

Reducing premiums for auto insurance is important to most people, and one of the fastest ways to save on the cost of insurance for good students is to not pay for full coverage. The chart below shows the comparison of yearly insurance costs when comparing full coverage to liability only. The rates are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are not married, and no other discounts are factored in.

If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs $1,476 per year over liability only. That amount may make you wonder when is it safe to stop buying full coverage. There is no definitive rule for phasing out comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

The illustration below shows how choosing a deductible can affect annual premium costs when researching cheap insurance for good students. The premium estimates are based on a married male driver, comp and collision included, and no discounts are applied.

The chart above illustrates that a 50-year-old driver could cut expenses by $330 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $498 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, could potentially save $1,110 each year by using a higher deductible. When choosing a higher deductible, it will be important to have additional funds in a savings account to be able to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Get discounts on Colorado Springs insurance rates

Discounts on auto insurance for good studentsAuto insurance companies that offer quotes for good students could also offer premium discounts that can lower rates by as much as 40% or more if you are eligible for them. A few of the larger companies and some of the premium reductions they offer include:

The illustration below illustrates the difference between premium costs with and without discounts applied. The costs are based on a male driver, no claims or driving citations, Colorado state minimum liability limits, full physical damage coverage, and $100 deductibles.

The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, continuous coverage, paperless filing, anti-theft, good student, and passive restraint discounts applied. When drivers take advantage of discounts, the average amount saved each year on auto insurance for good students is 28% or $989.

How to find budget-friendly insurance for good students

The list below shows some of the better thrifty suggestions that can help drivers quote low-cost coverage.

The last suggestion is highly crucial, as was pointed out in the prior article. Prices charged by auto insurers in Colorado Springs can be adjusted at any time, so drivers shouldn’t hesitate to buy a different policy if you can find a cheaper rate. Brand loyalty is great, but it isn’t a good idea if that faithfulness ends up costing you a considerable chunk of change every month. Now is a great time to compare prices to find cheaper auto insurance for good students.

If you aren’t sure which coverage you need and prefer to have the advice of a professional agent when trying to find lower insurance rates for good students, the professional agents shown below can provide answers to your questions and help you determine which car insurance policy is best.

To find a Colorado Springs insurance agent closest to you, click the link after the list or click here to compare price quotes now.

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