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How much is car insurance in Colorado Springs?
|Area||Average Monthly Car Insurance Premium|
Car insurance policies in Colorado Springs are about $8 a month more expensive than the rest of Colorado.
When stacked up against the national average, the average monthly policy payment for Colorado Springs is more affordable. The average monthly payment in Colorado Springs is about $1 less than the rate for the rest of the U.S.
While these are the average car insurance rates for Colorado Springs, keep in mind that you could end up paying a different amount. There are a number of factors that determine how much insurance companies might charge you to insure your vehicle. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly policy payment.
We've broken down the average rates for Colorado Springs to help you understand what exactly you might be asked to pay. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
Generally, the older you are, the more experienced you are on the roads. That experience can turn into some real savings when it comes to auto insurance rates. As you can see, 18-24-year-olds pay significantly more than someone who is retirement aged.
You can expect to see your monthly premium drop about once a decade or so. Once you hit retirement, however, your rates may creep back up in Colorado Springs.
Average Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. In Colorado Springs, however, the difference in the monthly cost of coverage is minimal.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the key factors in determining your car insurance rates is your driving record. Those with fewer accidents and tickets will pay a lot less than those with multiple infractions, while those with clean driving records will obviously pay the least. In Colorado Springs, having a single accident on your record will usually get you rates around $101 a month. Similarly, drivers with one ticket will typically pay around $117 on average.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. In order to minimize your monthly rate, practice safe driving habits and keep your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$83|
|15 Years or Older||$79|
The most affordable vehicles to insure in Colorado Springs are typically trucks and vans, which run about $70 per month.
Car owners will see a monthly premium of about $81, while SUV owners by and large pay around $76 a month.
You may also see different rates based on how old your vehicle is. Generally, newer vehicles are going to be the most expensive to insure. Once your car is about 5 years old, however, you may see your bill start to shrink a bit. The most expensive vehicles to insure in Colorado Springs, for example, are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$83|
On average, those who have settled down into marriage will pay slightly less for auto insurance. This usually happens because companies will offer special discounts to policyholders with multiple vehicles that are on the same policy.
At a national level, single drivers usually pay more than married couples do for auto insurance. Colorado Springs follows that pattern, with the difference totaling to around $4 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$116|
Your housing status is another factor that affects your monthly rate. In Colorado Springs, homeowners can expect to pay around $10 a month less than those who rent. Those who live with their parents, however, can expect to pay a lot more.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Colorado Springs, CO
Recent trends in car insurance for Colorado Springs drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending before shopping for coverage.
The rates for auto insurance in Colorado Springs rose from 2016-2018, before leveling out in 2019. Insurance rates increased again recently, reaching a high of $94 in 2021.
How does Colorado Springs compare to neighboring areas?
Why are car insurance rates in Colorado Springs different from other areas?
There are a lot of factors car insurance companies take into consideration when choosing how much to charge for coverage. While we mentioned the factors that affect your personal policy, others are based around where you park your car. These include things like:
- Amount of drivers
- Amount of off-street parking
- Community laws
- Area crime rates
- Road Safety (total number of local car accidents)
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Colorado Springs?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But hold on! Compare.com will handle the heavy lifting for you. Just put in your ZIP Code below, respond to a few questions, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies offering policies in Colorado Springs.
Colorado Springs Insurance FAQs
What factors affect car insurance quotes in Colorado Springs?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your age and gender, but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Colorado Springs different from other neighboring cities?
Local laws, crime rates, and parking situations -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Colorado Springs?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Colorado Springs?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Colorado Springs or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.