Who Has the Cheapest Auto Insurance for a Hyundai Elantra in Colorado Springs?

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Hyundai Elantra insurance cost
Hyundai Elantra insurance cost image courtesy of QuoteInspector.com

Finding cheaper insurance for a Hyundai Elantra relies on many factors such as whether you are married or single, if you are a frequent claim filer, and any prior driving offenses. Drivers pay on average $1,007 each year for Elantra insurance, but that is an approximation using a 50-year-old single female driver with full comprehensive and collision coverage and $250 deductibles.

When estimating a car insurance rate like we just did, the issue is that you're not a 50-year-old female, possibly married instead of single, and you don't want the same coverages and limits as the example. This shows why the best way to find the cheapest rates for your Hyundai is to put in the effort to do a thorough rate comparison.

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The specific trim level tends to have a direct impact on the annual cost of coverage, so the rate you pay to insure a Elantra GLS Touring Station Wagon model will be $110 less than the insurance cost for the higher-end Elantra SE Touring Station Wagon version, as shown in the chart below.

Hyundai Elantra Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $204 $368 $338 $20 $102 $1,032 $86
Elantra Blue 4-Dr Sedan $204 $528 $396 $24 $118 $1,270 $106
Elantra GLS 4-Dr Sedan $234 $528 $396 $24 $118 $1,300 $108
Elantra SE 4-Dr Sedan $234 $528 $396 $24 $118 $1,300 $108
Elantra SE Touring Station Wagon $234 $448 $338 $20 $102 $1,142 $95
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Price information does not factor in zip code location which can increase or decrease price quotes noticeably.

Shopping around for budget auto insurance is not most people's favorite thing to do, and figuring out which companies quote the best car insurance rates for a Hyundai Elantra will involve even more perseverance. Every insurance company has a unique approach for filing rates in each state, so let's begin by examining the car insurance companies that tend to have lower prices in Colorado Springs.

It's a good idea to be aware that Colorado car insurance rates are impacted by many things that control the price you pay. This price variability is why consumers need to compare as many rates as possible to find the cheapest auto insurance quotes for a Hyundai Elantra. Insurance prices are determined by many factors and can change substantially, so the best price a year ago may now be quite expensive.

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Rankings for the cheapest car insurance companies in Colorado
Rank Company Cost Per Year
1 The Hartford $825
2 Grange $958
3 USAA $1,029
4 Nationwide $1,109
5 GEICO $1,152
6 Travelers $1,183
7 Auto-Owners $1,204
8 State Farm $1,209
9 American Family $1,314
10 Amica $1,340
11 Progressive $1,362
12 Allied $1,439
13 California Casualty $1,458
14 Colorado Farm Bureau $1,576
15 Farmers $1,581
16 MetLife $1,885
17 Allstate $2,015
18 Encompass $2,231
19 Safeco $2,547
20 Titan $2,738
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The Hartford may offer some of the lowest car insurance rates in Colorado Springs at around $825 per year. This is $753 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also rank well as some of the more affordable Colorado Springs, CO auto insurance companies.

In this example, if you are a policyholder with Nationwide and switched to Grange, you might see savings of roughly $151. Drivers with GEICO might save as much as $194 a year, and Travelers policyholders might reduce prices by as much as $225 a year.

To see if you're overpaying, click here or visit any of the low-priced companies below.

Bear in mind that those estimates are averages for all insureds and vehicles and and are not figured with a specific zip code for a Hyundai Elantra. So the company that has the cheapest rates for you may not even be in the list above. That illustrates why you need to get car insurance quotes using your own specific driver and vehicle information.

Accidents and violations increase rates

In a perfect world, the ideal way to maintain the most affordable car insurance rates for an Elantra is to be a cautious driver and avoid accidents and traffic citations. The illustration below shows how traffic citations and accidents can impact insurance prices for each different age category. Data assumes a married female driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.

The data above shows the average cost of a car insurance policy per year with no violations or accidents is $1,974. Get written up for two speeding tickets and the average cost increases to $2,822, an increase of $848 each year. Then include two accidents along with the two speeding tickets and the yearly cost of car insurance for a Hyundai Elantra jumps again to an average of $5,763. That's an increase of $3,788, or $316 per month, just for a couple of infractions!

Can you find cheaper Elantra insurance?

Colorado Springs car insurance rates are based on many factors which can substantially decrease or increase the policy price. Getting older, increasing liability limits, or having a fender bender can cause premium changes resulting in some rates now being more affordable than competitors. Also, car insurance companies amend pricing as often as every quarter as an adjustment for underwriting gains or losses. Unexpectedly high claims can result in rate increases, while profitable underwriting can result in lower-cost Elantra insurance rates.

As an example, the graph below shows the cheapest car insurance in Colorado Springs, CO for a 35-year-old male driver with a good driving record, no prior claims, and excellent credit. When comparing rates based on his personal risk profile, The Hartford might offer the best car insurance rates in Colorado Springs at $998 a year. This is $580 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners are also included in the cheapest Colorado Springs, CO auto insurance companies.

Let's now give the driver from the first set of rates some claims, slightly worse credit, and a speeding ticket. Due to the fact that every auto insurer uses their own formula to set policy rates, comparing prices could result in a different ranking of the cheapest car insurance companies in Colorado Springs as shown below.

Travelers now has the cheapest rate in Colorado Springs with State Farm, American Family, Grange, and Progressive now rounding out the top five. This example shows why Colorado drivers need to perform an extensive rate comparison to find the most budget-friendly auto insurance quotes for a Hyundai Elantra.

Insurance rates are made up of many things and change dramatically, so the best price the last time you checked may now be costing you a lot of money.