One of the more important components that are looked at to determine the annual cost of car insurance is your zip code in Colorado Springs. More populated areas are more likely to pay higher prices, whereas areas with less people or fewer weather incidents benefit from lower coverage costs.
The table below shows the most expensive places in Colorado for 4×4 vehicles in which to purchase auto insurance. Colorado Springs ranks #9 having an annual price of $1,290 for the average insurance policy, which is approximately $108 per month.
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Premium costs are approximated as zip code location can increase or decrease premiums considerably.
The car, truck, or SUV you are insuring is a large consideration that determines whether or not you can buy the lowest-priced auto insurance for 4×4 vehicles. Vehicles with average performance, a great safety record, or a track record of few liability claims will cost much less to insure than higher performance models.
The information below features auto insurance costs for a number of the cheapest automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,201|
|Ford Escape XLT 4WD||$1,209|
|Honda Accord EX 4-Dr Sedan||$1,284|
|Hyundai Elantra GLS Touring Station Wagon||$1,323|
|Ford Focus SE 4-Dr Sedan||$1,362|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,379|
|Ford F-150 STX Super Cab 2WD||$1,457|
|Honda Odyssey LX||$1,465|
|Nissan Altima 3.5 SR 4-Dr Sedan||$1,491|
|Chevrolet Impala LS||$1,497|
|Chevrolet Silverado LT Extended Cab 4WD||$1,521|
|Toyota RAV4 Sport 2WD||$1,530|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,552|
|Ford Explorer Eddie Bauer AWD||$1,557|
|Dodge Grand Caravan Hero||$1,565|
|Ford F-250 XL Harley Edition 2WD||$1,589|
|Ford Edge Sport 2WD||$1,604|
|Toyota Corolla XLE||$1,613|
|Toyota Camry XLE||$1,604|
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Rate information does not factor in your specific Colorado Springs, CO location which can raise or lower price quotes greatly.
Looking at the rates, you can expect cars like the Honda CR-V, Ford Escape, Honda Accord, and Hyundai Elantra will be the cheaper vehicles to insure for off-road vehicles.
Full coverage rates compared to liability-only
Finding the cheapest auto insurance is the goal of most drivers, and one common way to find cheaper insurance for 4×4 vehicles is to buy only liability coverage. The chart below visualizes the comparison of insurance rates when comparing full coverage to liability only. The rates are based on no claims or violations, $100 deductibles, single status, and no discounts are applied to the premium.
If all age groups are averaged, physical damage coverage costs $2,696 per year more than buying just liability insurance. That proposes the question if physical damage coverage is worth the money. There is no exact rule that is best for determining when to drop physical damage insurance, but there is a general convention. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s replacement cost is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $7,000 after paying the physical damage deductible. If you are paying over $700 annually to have full coverage, then you may need to consider dropping full coverage.
There are a few cases where buying only liability insurance is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Auto insurance companies ranked
Choosing the top auto insurance provider can be a challenge considering how many companies provide coverage in Colorado Springs. The rank data below may help you pick which auto insurers to look at when shopping car insurance rates for 4×4 vehicles. The rankings below only include companies that insure vehicles nationwide, so companies that have a smaller presence are not included in this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Your low-price policy may be costing you money
Colorado Springs auto insurance rates are influenced by many factors that can increase the price you have to pay for coverage. Simply getting older, increasing deductibles, or getting a ticket for running a stop sign may prompt premium changes resulting in some companies being cheaper than before. And not only may your rating factors change, but companies modify pricing multiple times each year as an adjustment for underwriting gains or losses. A period of higher than normal claims may cause rate hikes, while lower claim levels may cause cheaper Colorado Springs car insurance rates.
To illustrate this example, the bar chart below shows the cheapest car insurance in Colorado Springs, CO for a 40-year-old female driver with no violations or accidents, and good credit. If we look at prices based on her current risk factors, The Hartford offers the best car insurance rates in Colorado Springs at $1,017 a year. This is $561 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also make the list of the most affordable Colorado Springs, CO auto insurance companies.
Now let’s give the driver in the first example a claim or two, a lower credit score, and an imperfect driving record. Due to the fact that every insurance company has their own process to set policy rates, comparing rates will most likely result in a substantially altered list of the cheapest companies as shown below.
Travelers now has the cheapest car insurance in Colorado Springs, CO with State Farm, American Family, Grange, and Progressive also having competitive pricing. This example shows why consumers need to compare lots of rates when trying to get cheap insurance rates for 4×4 vehicles. Prices can be altered by many things and change substantially, so the best option the last time you shopped your coverage around may now be costing you a lot of money.
Ideas for finding more affordable car insurance for 4×4 vehicles
The list below shows some of the better money-saving ideas that can help Colorado Springs drivers buy lower-cost coverage.
- Better credit rating means better rates
- Bundle home and auto and save
- Maintain a clean driving record
- Drive attentively and avoid accidents
- Avoid price increases by not filing claims
- Raise deductibles
- Comparison shop frequently
That last piece of advice is very critical, as was noted in the article above. Auto insurance prices in Colorado Springs fluctuate considerably, so drivers shouldn’t be resistant to change insurance companies if you can save money. We understand brand loyalty, but it’s not a good idea if that loyalty results in overpaying hundreds of dollars a year. Take a few minutes and shop around to find cheaper auto insurance for 4×4 vehicles.
The Colorado Springs auto insurance agencies shown below are a good start to provide answers to your questions and help you determine which auto insurance policy would work best for you, since some drivers aren’t sure which coverage they need and prefer to get some help when shopping for cheaper insurance for off-road vehicles. It’s not always easy to find the best rates on your own, so a licensed agent can bring comfort knowing you have enough protection. To find a Colorado Springs insurance agency near you, click the button after the list.
Solid Rock Insurance Agency
2850 Serendipity Cir W #230 – Colorado Springs, CO 80917 – (719) 574-0082
Roberto Martinez – State Farm Insurance Agent
1216 Academy Blvd N – Colorado Springs, CO 80909 – (719) 574-0210
Springs Insurance Brokers
1837 Austin Bluffs Pkwy #101 – Colorado Springs, CO 80918 – (719) 268-1300