The words “economical” and “insurance” probably shouldn’t be used in the same sentence, in particular when comparison shopping for the cheapest auto insurance for infrequent drivers. In an attempt to save some money, let’s start the ball rolling by going over some situations that can significantly affect car insurance rates, and come up with some ideas to shave a little off the next policy you buy.
Figuring out which companies quote the most affordable auto insurance rates for infrequent drivers calls for a little more sweat in order to find the best price. Every insurance company has a unique formula for setting prices, so we will examine the most competitive auto insurance companies in Colorado Springs.
It’s important that readers know that Colorado Springs auto insurance rates are based on many factors that may substantially change the cost of a policy. Improving your credit rating, getting married, or getting a couple of tickets can cause premium changes resulting in some rates now being more affordable than others.
Find the Cheapest Auto Insurance in Colorado
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $834 |
| 2 | Grange | $949 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,155 |
| 5 | GEICO | $1,176 |
| 6 | Travelers | $1,183 |
| 7 | Auto-Owners | $1,204 |
| 8 | State Farm | $1,209 |
| 9 | American Family | $1,301 |
| 10 | Progressive | $1,362 |
| 11 | Amica | $1,394 |
| 12 | California Casualty | $1,458 |
| 13 | Allied | $1,483 |
| 14 | Farmers | $1,581 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,165 |
| 19 | Safeco | $2,522 |
| 20 | Titan | $2,738 |
| Find Cheaper Rates Go | ||
The Hartford generally has some of the best car insurance rates in Colorado Springs at around $834 each year. Grange, USAA, Nationwide, and GEICO would also be considered some of the best Colorado Springs, CO insurance companies.
In the above example, if you currently have coverage with USAA and switched to The Hartford, you could earn annual savings of around $165. Insureds with Nationwide might save as much as $321 a year, and GEICO insureds might cut rates by $342 a year.
It’s important to note that these policy prices are averaged across all types of drivers and the different vehicles they drive and do not factor in a specific vehicle garaging location for infrequent drivers. So the auto insurance company that fits your needs best may not even be in the top 21 companies shown above. That points out the importance of why you need to get car insurance quotes using your own specific driver information and vehicle.
The vehicle that is being insured is one of the primary factors when shopping for affordable auto insurance for infrequent drivers. Vehicles with high performance engines, poor safety features, or a history of substantial liability claims will cost more to insure than more economical and safe models.
The information below showcases coverage costs for a selection of the cheaper automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,174 |
| Honda Accord LX-P 4-Dr Sedan | $1,181 |
| Ford Escape XLS 4WD | $1,174 |
| Honda CR-V EX-L 2WD | $1,201 |
| Ford Explorer XLT 2WD | $1,313 |
| Chevrolet Equinox LT 2WD | $1,389 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,399 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,389 |
| Jeep Grand Cherokee Laredo 2WD | $1,396 |
| Dodge Grand Caravan SXT | $1,416 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $1,430 |
| Toyota Prius | $1,464 |
| Ford Focus S 4-Dr Sedan | $1,491 |
| Get a Custom Quote Go | |
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Price information does not factor in specific location which can influence coverage rates significantly.
Looking at the numbers, we can conclude that vehicles like the Hyundai Elantra, Honda Accord, and Ford Escape should be a few of the most economical vehicles to insure for low mileage drivers.
One of the more important components that are looked at to determine auto insurance rates is where you keep your car. Areas with more people or even just a higher incidence of claims likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The information below shows the highest-priced places in Colorado for infrequent drivers to purchase a policy in. Colorado Springs makes the list at #10 with a yearly premium of $1,277 for the average insured, which is around $106 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Aurora | $1,417 |
| 3 | Denver | $1,383 |
| 4 | Lakewood | $1,378 |
| 5 | Commerce City | $1,368 |
| 6 | Northglenn | $1,342 |
| 7 | Arvada | $1,308 |
| 8 | Security-Widefield | $1,291 |
| 9 | Highlands Ranch | $1,279 |
| 10 | Colorado Springs | $1,277 |
| 11 | Ken Caryl | $1,274 |
| 12 | Thornton | $1,268 |
| 13 | Centennial | $1,265 |
| 14 | Littleton | $1,254 |
| 15 | Brighton | $1,247 |
| 16 | Westminster | $1,246 |
| 17 | Parker | $1,220 |
| 18 | Castle Rock | $1,211 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,159 |
| 21 | Grand Junction | $1,154 |
| 22 | Longmont | $1,133 |
| 23 | Greeley | $1,122 |
| 24 | Loveland | $1,107 |
| 25 | Fort Collins | $1,089 |
| Get a Custom Quote Go | ||
Annual rates are estimated as the specific area where the vehicle is garaged can change prices substantially.
Selecting the highest-rated auto insurance company can be challenging considering how many companies there are to choose from in Colorado Springs. The company rank data in the lists below could help you choose which companies to look at purchasing from. These rankings are for the largest companies in the United States, so smaller companies that only insure vehicles in Colorado will not be included in the list.
| 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 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The illustration below illustrates how your deductible choice can affect premium costs when searching for cheap insurance for infrequent drivers. The information is based on a single male driver, comp and collision included, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could lower their policy premium by $438 a year by changing from a $100 deductible up to a $500 deductible, or save $658 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, could drop their prices as much as $1,304 or even more just by using higher deductibles.
If you do raise deductibles, it is a good idea to have enough savings to satisfy the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Rate comparison of full coverage and liability-only
Finding cheaper auto insurance should be important to most drivers, and one good way to reduce the cost of insurance for infrequent drivers is to not insure for full coverage. The chart below compares premium costs with and without full coverage. The premium estimates are based on no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no additional discounts are factored in.
As an average for all age groups, comprehensive and collision coverage on your policy costs $1,813 per year more than buying just liability insurance. At some point, every insured wonders if you should buy full coverage. There isn’t a written rule to stop buying physical damage insurance, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
There are some scenarios where dropping physical damage coverage is not advised. If you still have a lienholder on your title, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should keep full coverage in place.
The Colorado Springs, CO, insurance agents below can help you make a decision which insurance coverage you need, since lots of people like to get some guidance when comparing insurance rates for infrequent drivers. It can be hard to find the cheapest auto insurance company, so getting advice from a licensed Colorado insurance agent can give satisfaction knowing your policy gives you adequate protection in the event of a claim.
To locate a Colorado Springs car insurance agency using an interactive map, click the button link following the list.
Pikes Peak Insurance Agency
2306 N Powers Blvd #120 – Colorado Springs, CO 80915 – (719) 591-4500
Tom Harbert – State Farm Insurance Agent
8027 Academy Blvd N – Colorado Springs, CO 80920 – (719) 594-4500
Benson Insurance Group, LLC
5155 N Academy, #110 – Colorado Springs, CO 80918 – (719) 622-3079
Lee Ann Moore – State Farm Insurance Agent
3649 Star Ranch Rd – Colorado Springs, CO 80906 – (719) 540-9520
American Family Insurance – Michael Brandl Agency Inc.
1965 Dominion Way Ste 120 – Colorado Springs, CO 80918 – (719) 630-7557
View more Colorado Springs, CO insurance agents
How to find cheaper insurance for infrequent drivers
Here are some of the better money-saving suggestions that can help drivers buy cheap coverage.
- Clean up your credit rating
- Higher comprehensive and collision coverage deductibles will save money
- Try to pay small claims out-of-pocket
- Buying home and auto together can help save money
- The safer your car, the less it costs to insure
- Don’t waste money on full coverage for older vehicles
- Ensure you have the best deal by shopping around regularly
That last idea is notably significant, as was stressed in the prior article. Prices charged by auto insurers can be changed at any time, so don’t be tentative to change insurance companies if a better deal can be had. Loyalty to a specific company is fine, but it’s not a great idea if it’s costing you thousands of dollars over several years. Take a few minutes and compare prices and find cheaper insurance for infrequent drivers in Colorado Springs.