It’s hard to avoid all the ads from companies like Liberty Mutual and State Farm guaranteeing big savings, so drivers just need to select the one with the best jingle, right?
It’s just not that simple, as there are a whole bunch of unknowns like the area you live in, whether or not you are currently insured, and what physical damage coverage deductibles you want, that all have an effect on the price of a policy. The content below will cover the causes of high insurance rates and will hopefully give the reader a solid foundation to find cheaper car insurance in Colorado Springs.
The car, truck, or SUV that is being insured is one of the main factors when comparing quotes for cheaper car insurance for teenage females. Vehicles with high performance features, poor safety ratings, or high incidents of liability claims will cost more to insure than safer models.
The next list illustrates coverage costs for a number of the cheaper automobiles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$4,191|
|Honda CR-V EX 2WD||$4,201|
|Dodge Grand Caravan SE||$4,709|
|Ford Explorer XLT 2WD||$4,717|
|Ford Edge Limited 2WD||$4,934|
|Chevrolet Equinox LT 2WD||$4,975|
|Toyota RAV4 4WD||$4,982|
|Ford F-150 FX4 Super Cab 4WD||$5,016|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$5,236|
|Hyundai Elantra GLS 4-Dr Sedan||$5,239|
|Chevrolet Impala LTZ||$5,248|
|Toyota Tacoma X-Runner 2WD||$5,239|
|Honda Odyssey EX-L W/Navigation||$5,246|
|Toyota Corolla XRS||$5,280|
|Chevrolet Malibu LTZ||$5,286|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$5,280|
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Price data assumes single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in the specific area where the vehicle is garaged which can change price quotes significantly.
Looking at the data, models like the Ford Escape, Honda CR-V, and Toyota Prius will be some of the cheapest vehicles to insure for teen girls. Prices will tend to be higher just due to the fact that there is more exposure for teenage females, but in general those makes and models will have the cheapest car insurance rates that you’ll find.
Finding decent, affordable auto insurance is not most people’s favorite thing to do, and figuring out which companies have the cheapest insurance rates for teenage females may require additional perseverance. Each auto insurer uses a little different formula to set premium rates, so first we will examine the lowest cost insurance companies in Colorado Springs, CO.
We do need to point out that Colorado Springs, CO insurance rates are based on many factors that can increase your annual premium. Simply having a birthday, buying a new vehicle, or getting a ticket for careless driving can trigger changes in premium that can cause some rates to be more affordable than others.
Find the Cheapest Auto Insurance for Teens
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,592|
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The Hartford may offer some of the best car insurance rates in Colorado Springs at around $834 each year. Grange, USAA, GEICO, and Nationwide would also make the list of some of the more affordable Colorado Springs, CO auto insurance companies.
In this example, if you buy coverage from GEICO and switched to The Hartford, you may realize an annual premium reduction of in the neighborhood of $307. Drivers with Nationwide could save as much as $309 a year, and Auto-Owners policyholders might lower prices by up to $322 a year.
Be aware that those policy prices are averages for all ages of drivers and types of vehicles and and are not figured with a vehicle location for teenage females. So the insurer that fits your situation best may not even be in the top 21 companies shown above. That affirms the importance of why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
One of the many criteria that help determine the amount you pay for auto insurance is your zip code in Colorado Springs. Areas with more people or higher crime rates tend to have higher rates, whereas areas with less people or fewer weather incidents benefit from lower rates.
The next table shows the most costly cities in Colorado for teenage females in which to purchase auto insurance. Colorado Springs is ranked #6 with an annual premium of $1,329 for car insurance, which is around $111 monthly.
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Premium amounts are comparative as the specific garaging location can lower or raise coverage rates greatly.
How careless driving impacts Colorado Springs insurance rates
One of the best ways to maintain the most affordable insurance rates in Colorado for teen girls is to be an attentive driver and not receive tickets or have accidents. The information below illustrates how speeding tickets and at-fault accidents can influence insurance costs for different insured age categories. The prices are based on a married female driver, comp and collision included, $500 deductibles, and no discounts are factored in.
In the prior example, the average cost of auto insurance in Colorado Springs per year with no accidents or violations is $1,274. Factor in two speeding tickets and the average cost increases to $1,805, an increase of $531 each year. Then throw in two accidents along with the two speeding tickets and the 12-month cost of insurance for teenage females goes up to an average of $3,876. That’s an increase of $2,602, or $217 per month, just for not driving safely!
Cost comparison with and without full coverage
Saving on insurance should be important to most people, and a good way to find cheap insurance for teenage females is to only buy liability insurance. The chart below shows the comparison of premium costs when comparing full coverage to liability only. The price estimates are based on no claims or driving citations, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Averaged for all age groups, comprehensive and collision coverage on your policy costs an extra $1,967 per year more than just buying liability insurance. A very common question is when is the right time to remove full coverage. There is no clear-cut rule of when to stop paying for comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
Types of discounts on Colorado Springs car insurance rates
Insurance companies that provide policies for teenage females may also offer discounts that can lower rates by as much as 30% if you meet the requirements. A few popular companies and the discounts they provide are detailed below.
- GEICO policyholders can earn discounts including multi-vehicle, federal employee, good student, anti-theft, and membership and employees.
- Travelers has discounts for payment discounts, new car, multi-car, continuous insurance, and hybrid/electric vehicle.
- Farm Bureau discounts include safe driver, good student, 55 and retired, driver training, multi-policy, renewal discount, and multi-vehicle.
- Liberty Mutual offers discounts for good student, multi-policy, safety features, new move discount, exclusive group savings, teen driver discount, and newly retired.
- American Family may include discounts for good student, defensive driver, good driver, bundled insurance, and TimeAway discount.
- Progressive includes discounts for homeowner, multi-vehicle, multi-policy, online quote discount, continuous coverage, and good student.
The diagram below compares insurance premiums with and without discounts applied. Data assumes a female driver, no accidents, no driving violations, Colorado state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, paperless filing, anti-theft, continuous coverage, vehicle safety, and paid-in-full discounts applied. When drivers qualify for the discounts, theamount saved on insurance for teenage females is 28% or $498.
Can you find cheaper Colorado Springs car insurance?
Colorado Springs, CO insurance rates are impacted by many things which can substantially change the price you pay for coverage. Simply having another birthday, moving to a new city, or getting a DUI can trigger price changes that can cause some rates to be more affordable than the competition.
Not only that, but auto insurance companies change their prices without warning in order to be able to pay unexpected claims. Heavier than normal losses can cause rate hikes, while lower claim levels can cause cheaper Colorado Springs car insurance rates.
The bar chart below shows the cheapest car insurance in Colorado Springs, CO for a 30-year-old female driver with no violations or accidents, and great credit. If we look at prices based on her personal profile, The Hartford might quote the lowest car insurance rates in Colorado Springs at $1,039 a year. This is $539 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are the rest of the cheapest Colorado Springs, CO auto insurance companies.
Now let’s give the driver from the above example some claims, a lower credit score, and a speeding ticket. Because each insurer uses their own formula to establish rates, analyzing rates may now present a new list of the cheapest companies as shown below.
Travelers now has the lowest car insurance rate in Colorado Springs, CO with State Farm, Grange, American Family, and Progressive now being in the top five. This demonstrates why it is so important to shop around when trying to find the cheapest auto insurance quotes for teenage females. Car insurance prices are influenced by many risk factors and can change without notice, so the cheapest rate when you last compared rates may now be one of the higher cost companies.
The agents shown below are a good start to help you determine which coverages and limits you need, since many people would rather have some professional guidance when comparing insurance rates for teenage females. It can be challenging to find the cheapest car insurance policy, and a professional agent can give peace of mind knowing you have adequate asset protection. To locate a Colorado Springs car insurance agency closest to you, click the button at the bottom of the list or click here to compare rates now.
2105 E Bijou St A – Colorado Springs, CO 80909 – (719) 636-3369
American Family Insurance – Ed Reed
202 E Cheyenne Mountain Blvd k – Colorado Springs, CO 80906 – (719) 540-8400
American Family Insurance – Mario Aragon Agency Inc.
1135 E Fillmore St – Colorado Springs, CO 80907 – (719) 570-0707
Brandon Sullivan – State Farm Insurance Agent
5615 Constitution Ave – Colorado Springs, CO 80915 – (719) 597-5000