If you live in Colorado Springs, you’ve probably noticed that home and auto insurance rates have been climbing. Between severe hailstorms, wildfire risks, and rising repair costs, many families are paying more than ever to stay protected. The good news? There are several proven ways to save money on your insurance without cutting out the coverage you need. And the best thing about them is that they work in any market.
Here’s how Colorado Springs homeowners and drivers can lower their insurance premiums:
1. Bundle Home and Auto Insurance for Bigger Discounts
Most insurance companies reward customers who keep their homeowners insurance and auto insurance together. A multi-policy discount can save you hundreds of dollars each year while also simplifying your insurance paperwork. Also in our current market, some carriers will not give a rate for home insurance if your auto is not included which reduces competition and increases your rates.
2. Choose the Right Coverage and Deductibles
The cheapest policy isn’t always the best. Colorado Springs homeowners need to make sure their dwelling coverage reflects the true cost to rebuild a home in today’s market, not just its market value.
For auto insurance, raising your deductible slightly on collision or comprehensive coverage can reduce your premium, as long as you have savings set aside for emergencies.
We recommend carrying the highest deductible that you can reasonably afford to pay if you suffer a loss. Also, pay attention to your liability limits, this is not generally a recommended area to skimp or save.
3. Improve Your Credit Score
Insurance companies in Colorado use a credit-based insurance score when setting premiums. A higher credit score can lead to noticeably lower rates on both car and home insurance. Paying bills on time, reducing debt, and keeping old accounts open can all help improve your score.
If your credit is “frozen” in order to protect your credit rating, make sure you thaw it prior to shopping for insurance. Even though this is a “soft” hit that does not show on a credit report or affect your credit score, it needs to be accessible to the carriers in order to obtain their best rates.
4. Ask About Discounts You May Be Missing
Insurance companies offer many discounts, but not all are applied automatically. Be sure to ask about:
- Safe driver discounts (no accidents or tickets)
- Good student discounts for teen drivers
- Military, veteran, or first responder savings
- Home security system discounts
- Usage-based driving programs that reward safe habits
Working with a local Colorado Springs insurance agent ensures you’re not missing any opportunities for savings.
5. Maintain Your Property and Vehicle
Well-maintained homes and vehicles are less risky for insurers. Updating your roof, electrical, or plumbing can lower your homeowners premium. For auto insurance, keeping a clean driving record and avoiding frequent claims is key to keeping costs down.
6. Shop Around with a Local Colorado Springs Insurance Agent
Insurance rates vary widely between companies. By comparing quotes every 1–2 years, you can often find a better deal. A local Colorado Springs insurance agent can do the shopping for you, comparing multiple carriers to find the right balance of cost and coverage.
7. Consider Low-Mileage and Usage-Based Programs
If you work from home or don’t drive much, you may qualify for a low-mileage discount. Many insurers also offer telematics programs that monitor your driving habits and reward safe drivers with lower premiums.
Final Thoughts
While Colorado Springs insurance rates have been rising, there are still many ways to keep costs under control. Bundling policies, improving your credit, adjusting deductibles, and working with a knowledgeable insurance agent in Colorado Springs can help you protect your home and car at an affordable price.
👉 Ready to review your policies? Contact our team today for a free, no-obligation quote and see how much you could save on your home and auto insurance.
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