What Insurance is Cheapest for a Toyota Corolla in Colorado Springs?

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Toyota Corolla insurance rates
Toyota Corolla insurance rates image courtesy of QuoteInspector.com

Finding the cheapest coverage for a Toyota Corolla relies on a lot of rating criteria such as how many years you have been driving, the condition of your credit, and if you have a history of accidents. Colorado drivers pay on average $1,187 annually for Corolla insurance, but that figure is an approximation based on a 30-year-old single male driver with full physical damage coverage and $250 deductibles.

The issue that arises when projecting rates is that it's very likely that you're not a 30-year-old male, married instead of single, and maybe your Corolla just needs liability-only coverage. Even a minor difference in the criteria used to calculate rates could end up with a large change in the policy cost.

Not everyone needs the same coverages, so the best method for finding cheap auto insurance rates for your Toyota is to do a thorough rate comparison.

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Vehicle trim level can impact the cost of coverage, so the price you pay to insure a Corolla LE model will cost $40 less than the price to insure the fancier Corolla XRS version, as shown below.

Toyota Corolla Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $310 $538 $460 $28 $138 $1,474 $123
Corolla S $310 $538 $460 $28 $138 $1,474 $123
Corolla XLE $310 $538 $460 $28 $138 $1,474 $123
Corolla XRS $350 $538 $460 $28 $138 $1,514 $126
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Prices do not factor in your specific Colorado Springs location which can revise premiums noticeably.

Buying coverage from the top auto insurance provider can be challenging considering how many choices you have in Colorado. The information displayed below can help you analyze which providers to look at purchasing a policy from. The ratings below include major nationwide insurance companies, so smaller regional companies are not factored into these rankings.

Colorado Springs, CO Auto Insurance Company 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
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Data Source: Insure.com Best Car Insurance Companies

Driving violations and accidents

The common sense way to snag low auto insurance rates for a Corolla is to be an attentive driver and maintain a clean driving record. The illustration below illustrates how traffic citations and accident claims raise insurance costs for different age categories. The premium estimates are based on a married female driver, full coverage, $1,000 deductibles, and no other discounts are factored in.

In the chart above, the average cost of car insurance per year with no accidents or violations is $1,430. Get written up for one speeding ticket and the average cost hikes up to $1,670, an increase of $239 each year. Now include one accident along with the one speeding ticket and the annual cost of auto insurance for a Toyota Corolla jumps again to an average of $2,336. That's an increase of $905, or $75 per month, just for not being more responsible behind the wheel!

Why are you paying too much to insure your Corolla?

Colorado Springs auto insurance rates are based on many factors which can substantially decrease or increase the cost of a policy. Getting older, increasing liability limits, or having a fender bender can trigger price changes that may make certain companies cheaper than others. Not only may your risk profile change, but insurers amend pricing every year or even multiple times each year as an adjustment for underwriting gains or losses. Heavier than normal losses can cause additional price hikes, while less frequent claims may result in more affordable Corolla insurance rates.

To illustrate this point, the data below shows rates for the cheapest car insurance in Colorado Springs, CO for a 45-year-old female driver with a clear driving record, no claims, and a decent credit rating. If we compare prices based on her current risk factors, The Hartford might offer the best car insurance rates in Colorado Springs at $1,053 each year. This is $525 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also on the list of the best Colorado Springs, CO auto insurance companies.

The next chart shows rates after we give the driver from the above example some claims, slightly worse credit, and a few traffic violations. Because each company has their own unique process for determining rates, analyzing rate quotes may now show a completely different list of affordable companies as shown below.

GEICO now has the best car insurance rate in Colorado Springs with State Farm, American Family, Grange, and Progressive now rounding out the top five. This example proves why drivers need to perform a complete rate comparison when trying to find cheap auto insurance rates for a Toyota Corolla.

Prices are impacted by many things and can decrease or increase without notice, so the lowest-price company when you last compared rates may now be priced much higher than other options.

The agents below can probably aid you in deciding which auto insurance policy fits you best, since some drivers wish to have a professional recommendation when trying to find the best insurance rates for a Toyota Corolla. It's not always easy to find the cheapest car insurance policy, so getting advice from a licensed Colorado insurance agent can give you satisfaction knowing your coverage gives you adequate coverage if you have an accident or claim.

To locate a Colorado Springs auto insurance agent near you, click the button link following the list or click here to get price quotes now.

Progressive Insurance
12710 Voyager Pkwy - Colorado Springs, CO 80921 - (719) 582-2759

Allstate Insurance: Wermers Agency Inc
1283 Kelly Johnson Blvd - Colorado Springs, CO 80920 - (719) 471-6777

Farmers Insurance - Michael Hendrickson
24 S Weber St #135 - Colorado Springs, CO 80903 - (719) 572-5938

Farmers Insurance - Patricia Szeredy
6632 Delmonico Dr - Colorado Springs, CO 80919 - (719) 268-0080

Austin Morgan - State Farm Insurance Agent
2606 Palmer Park Blvd - Colorado Springs, CO 80909 - (719) 630-1800

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