The car, truck, or SUV that is being insured is a large consideration that determines whether or not you find the most affordable insurance for drivers under 21. Vehicles with high performance engines, a lack of modern safety features, or a history of substantial liability claims will cost more to insure than more modest models.
The data below estimates car insurance prices for a handful of the more affordable vehicles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $3,637 |
| Hyundai Elantra GLS Touring Station Wagon | $3,647 |
| Ford Escape XLT 4WD | $3,684 |
| Toyota Prius | $3,985 |
| Ford Explorer XLT AWD | $4,065 |
| Toyota Tacoma 4WD | $4,071 |
| Ford Focus S 4-Dr Sedan | $4,272 |
| Honda Odyssey EX W/Rear Entertainment | $4,280 |
| Volkswagen Jetta S 4-Dr Sedan | $4,319 |
| Toyota RAV4 Sport 4WD | $4,326 |
| Chevrolet Malibu LS | $4,319 |
| Chevrolet Equinox LT AWD | $4,329 |
| Ford F-150 Lariat Crew Cab 4WD | $4,366 |
| Dodge Grand Caravan Crew | $4,375 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $4,400 |
| Honda Civic LX-S 4-Dr Sedan | $4,525 |
| Toyota Corolla XLE | $4,572 |
| Chevrolet Impala LTZ | $4,582 |
| Ford Edge Sport AWD | $4,572 |
| GMC Sierra SLE Extended Cab 4WD | $4,620 |
| Ford Fusion SEL 4-Dr Sedan | $4,630 |
| Jeep Grand Cherokee Limited 4WD | $4,620 |
| Nissan Altima Hybrid 4-Dr Sedan | $4,630 |
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Data variables include single male driver age 19, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can revise prices noticeably.
Looking at the numbers, we can presume that cars like the Honda CR-V, Hyundai Elantra, Ford Escape, and Toyota Prius will be some of the less-costly vehicles to insure for minors. The price for an auto insurance policy will be more costly because there is more claim exposure for drivers under 21, but overall those specific models will probably have the least expensive rates compared to all other vehicles.
One of the more important considerations that are looked at to help calculate the amount you pay for auto insurance is your address in Colorado Springs. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims have the enjoyment of a little cheaper coverage.
The following table sorts the priciest cities in Colorado for drivers under 21 to buy car insurance in. Colorado Springs is ranked #9 with a yearly cost of $1,316 for the average insurance policy, which is around $110 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,412 |
| 2 | Denver | $1,397 |
| 3 | Aurora | $1,361 |
| 4 | Northglenn | $1,329 |
| 5 | Commerce City | $1,328 |
| 6 | Ken Caryl | $1,326 |
| 7 | Lakewood | $1,324 |
| 8 | Thornton | $1,320 |
| 9 | Colorado Springs | $1,316 |
| 10 | Arvada | $1,295 |
| 11 | Littleton | $1,293 |
| 12 | Security-Widefield | $1,291 |
| 13 | Brighton | $1,285 |
| 14 | Highlands Ranch | $1,267 |
| 15 | Centennial | $1,265 |
| 16 | Castle Rock | $1,248 |
| 17 | Westminster | $1,246 |
| 18 | Parker | $1,220 |
| 19 | Broomfield | $1,215 |
| 20 | Longmont | $1,168 |
| 21 | Boulder | $1,159 |
| 22 | Grand Junction | $1,120 |
| 23 | Greeley | $1,110 |
| 24 | Fort Collins | $1,089 |
| 25 | Loveland | $1,063 |
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Rates are estimated as the specific geographic location can alter rates greatly.
Finding dependable, cheap car insurance is not always easy, and determining which company quotes the most affordable insurance rates for drivers under 21 will involve additional perseverance.
Every car insurance company has their own guidelines to set premium rates, so first let’s look at the rankings for the insurance companies with the overall cheapest rates in Colorado Springs, CO. Keep in mind that Colorado insurance rates are based on many factors which can significantly increase or decrease the price you have to pay. Price variation is why Colorado Springs drivers need to compare as many rates as possible to find affordable insurance rates for drivers under 21. Insurance prices can be determined by many factors and can change substantially, so the best option a year ago may now be one of the more expensive options.
Best Auto Insurance Prices for Minors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $958 |
| 3 | USAA | $1,039 |
| 4 | Nationwide | $1,143 |
| 5 | GEICO | $1,152 |
| 6 | Auto-Owners | $1,168 |
| 7 | Travelers | $1,183 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,362 |
| 11 | Amica | $1,381 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,497 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $1,994 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,472 |
| 20 | Titan | $2,630 |
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The Hartford generally has some of the cheapest car insurance rates in Colorado Springs at around $825 annually. Grange, USAA, Nationwide, and GEICO also rank well as some of the lowest-priced Colorado Springs, CO insurance companies.
In the above example, if you currently buy coverage from Nationwide and switched to The Hartford, you could realize annual savings of roughly $318. Policyholders with GEICO could save as much as $327 a year, and Auto-Owners policyholders might lower prices by $343 a year.
To find the cheapest coverage for you, click here to begin a quote or quote rates from the companies below.
Understand that those policy prices are averages across all drivers and vehicles and are not factoring in a specific vehicle garaging location for drivers under 21. So the auto insurance company that fits your situation best may not even be in the top 21 companies in the list above. That illustrates why you need to get car insurance quotes using your own specific driver and vehicle information.
How accidents and violations affect rates
One of the best ways to get good insurance prices for minors is to be a cautious driver and maintain a clean driving record. The example below demonstrates how speeding tickets and accident claims can increase insurance costs for different age categories. The data assumes a single male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
In the prior example, the average cost of auto insurance in Colorado per year with no accidents and a clean driving record is $1,967. Add in two speeding tickets and the average cost surges to $2,590, an increase of $623 each year. Then add one accident along with the two speeding tickets and the yearly cost of insurance for drivers under 21 increases to an average of $3,235. That’s an increase of $1,268, or $106 per month, just for not driving attentively!
Best insurance company in Colorado
Choosing the highest-rated insurance company can be difficult considering how many different companies there are to choose from in Colorado Springs. The company ratings in the lists below can help you analyze which insurers to look at comparing rates with. These ratings are only comprised of companies with a nationwide focus, so companies that focus mainly on Colorado business are not taken into consideration for these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
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Data Source: Insure.com Best Car Insurance Companies
The chart below highlights how deductible selection can increase or decrease annual premium costs when searching for cheap insurance for drivers under 21. The rate quotes are based on a married male driver, comp and collision included, and no discounts are applied.
A 30-year-old driver could lower rates by $272 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $412 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old example, can cut up to $814 or even more by choosing a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it is a good idea to have additional savings on hand to allow you to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
How to find cheaper car insurance for drivers under 21
Below you’ll find some of the recommended thrifty solutions that can help you quote more affordable coverage.
- Increase the comprehensive and collision deductibles on your policy
- Safe vehicles generally have lower rates
- Good credit can mean cheaper rates
- Staying accident-free helps keep rates low
- Avoid speeding and other traffic citations and pay less
- Do not pay for full coverage on older vehicles
- Shop around for cheaper prices often
That final tip is highly significant, as was stressed in this article. Prices charged by car insurance companies change a lot, so you should be ready to buy a different policy if a lower price can be found. Having a favorite company is fine, but it isn’t a good idea if that faithfulness ends up costing you a considerable chunk of change every month. It only take a few minutes to compare rates to find cheaper insurance for drivers under 21 in Colorado Springs.