The words “economical” and “insurance” really don’t belong together, especially when you are shopping around for the cheapest auto insurance for used cars. Because it’s not cheap, let’s lead off by showing you some of the things the can have a considerable influence on car insurance rates, and figure out some ways to slash the price of your next policy.
The vehicle model that needs insurance is a significant factor when trying to find economical car insurance for used cars. Vehicles with lower acceleration and performance, an excellent safety record, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models. The data below outlines auto insurance rates for a selection of the cheaper automobiles to insure in Colorado.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Odyssey LX | $1,170 |
| Toyota Prius | $1,180 |
| Hyundai Elantra GLS Touring Station Wagon | $1,224 |
| Chevrolet Impala LS | $1,236 |
| Honda CR-V EX-L 4WD | $1,252 |
| Toyota RAV4 Sport 2WD | $1,260 |
| Chevrolet Malibu Hybrid | $1,265 |
| Ford Escape XLS 4WD | $1,306 |
| Toyota Corolla LE | $1,325 |
| Ford Edge SE 2WD | $1,344 |
| Chevrolet Silverado LS Crew Cab 4WD | $1,351 |
| Ford F-150 STX Regular Cab 4WD | $1,372 |
| Ford Explorer XLT AWD | $1,378 |
| Dodge Ram Quad Cab SLT 2WD | $1,379 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,431 |
| Ford Fusion SEL AWD 4-Dr Sedan | $1,440 |
| Kia Optima SX | $1,445 |
| Dodge Grand Caravan SE | $1,468 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,471 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,473 |
| Ford Focus S 4-Dr Sedan | $1,518 |
| Toyota Camry LE | $1,550 |
| GMC Sierra SLE Extended Cab 4WD | $1,557 |
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Price information does not factor in specific location information which can increase or decrease coverage rates substantially.
Looking at the rates, makes and models like the Honda Odyssey, Toyota Prius, Hyundai Elantra, and Chevrolet Impala should be the most economical vehicles to insure for pre-owned vehicles.
For pre-owned vehicles, one of the largest factors that aid in calculating car insurance rates is where you keep your car in Colorado Springs. Areas with high crime rates or more dense population are more likely to pay higher prices, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The next table shows the priciest cities in Colorado for used cars to purchase auto insurance in. Colorado Springs makes the list at #7 with an annual cost of $1,329 for the average policy, which is about $111 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Aurora | $1,403 |
| 2 | Pueblo | $1,397 |
| 3 | Denver | $1,383 |
| 4 | Lakewood | $1,378 |
| 5 | Commerce City | $1,354 |
| 6 | Northglenn | $1,342 |
| 7 | Colorado Springs | $1,329 |
| 8 | Ken Caryl | $1,326 |
| 9 | Littleton | $1,306 |
| 10 | Security-Widefield | $1,291 |
| 11 | Thornton | $1,281 |
| 12 | Centennial | $1,278 |
| 13 | Arvada | $1,269 |
| 14 | Highlands Ranch | $1,267 |
| 15 | Brighton | $1,235 |
| 16 | Westminster | $1,234 |
| 17 | Parker | $1,233 |
| 18 | Castle Rock | $1,211 |
| 19 | Boulder | $1,195 |
| 20 | Longmont | $1,179 |
| Start a Quote Go | ||
Rate quotes are approximated as the vehicle garaging location can increase or decrease premiums substantially.
The illustration below shows how different deductible levels can change yearly insurance costs when quoting cheap insurance for used cars. The premiums are based on a single male driver, full physical damage coverage, and no discounts are taken into consideration.
The data above shows that a 50-year-old driver could lower their car insurance rates by $290 a year by increasing from a $100 deductible up to a $500 deductible, or save $436 by switching to a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could drop their prices $948 each year just by choosing larger deductibles.
When using a larger deductible, it is necessary to have plenty of money set aside to pay the extra out-of-pocket expense associated with higher deductibles.
How careless driving impacts Colorado Springs car insurance rates
The recommended way to snag the most affordable car insurance premiums for pre-owned vehicles is to be a cautious driver and avoid accidents and keep your driving record clean. The information below illustrates how traffic citations and accident claims can increase annual premium costs for different age groups. The premiums are based on a married female driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
The data above shows the average cost of auto insurance in Colorado Springs per year with no violations or accidents is $1,396. Add in two speeding tickets and the average cost swells to $1,983, an increase of $588 each year. Then include two accidents along with the two speeding tickets and the 12-month cost of car insurance for used cars jumps again to an average of $4,172. That’s an increase of $2,777, or $231 per month, just for being a less-than-perfect driver!
How to find budget-friendly car insurance for used cars
It is possible to find better rates, and here are many thrifty ideas that can help you locate more affordable auto insurance.
- Prevent rate increases by staying accident-free
- Just one traffic violation will increase your rates
- Save money by staying claim-free
- Raise deductibles
- Save money by insuring older vehicles for liability only
- Compare price quotes at least once a year
The last suggestion is extraordinarily critical, as we noted in the prior article. Rates can change considerably based on profitability, so drivers shouldn’t be reluctant to buy from a different company if a better rate can be found. Loyalty to a specific company is fine, but it’s not a good idea if your bullheadedness ends up costing you a small fortune year after year. In just a couple of minutes you could compare rates and find cheaper insurance for used cars in Colorado Springs.
The insurance agents in Colorado Springs listed below can help you decide which coverages are best, since some drivers wish to have some advice when comparing insurance rates for pre-owned vehicles. It can be complicated to find the cheapest rate yourself, so insurance agents licensed in the state of Colorado can provide you satisfaction knowing your coverage gives you adequate protection in case of an accident or claim.
To locate a Colorado Springs car insurance agency close to you, click the button at the bottom.
- Lee Ann Moore – State Farm Insurance Agent
3649 Star Ranch Rd – Colorado Springs, CO 80906 – (719) 540-9520 - Connie Slater – State Farm Insurance Agent
5731 Silverstone Terrace #120 – Colorado Springs, CO 80919 – (719) 268-9003 - Jeff Schmidt – State Farm Insurance Agent
1230 Tenderfoot Hill Rd Ste. 200 – Colorado Springs, CO 80906 – (719) 445-0070 - J.R. Rodney State Farm®
1825 Main St #D – Colorado Springs, CO 80911 – (719) 392-7366 - State Farm: Dan Lewis
1867 S Academy Blvd – Colorado Springs, CO 80916 – (719) 434-3944