How Much is Car Insurance in Colorado? Rates by Coverage Level, Age, Driving History and Location

In Colorado, the average annual cost of car insurance is $1,450, slightly higher than the national average of $1,424. When calculating state averages across multiple companies and locations for one sample driver, Colorado ranks 40th in annual car insurance cost, with Maine being the cheapest. For this guide, MoneyGeek assessed averages by coverage level, age, driving history, credit score and location.

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The average cost of car insurance in Colorado is $1,450 for a 40-year-old driver with a full coverage policy and a clean driving record. The same 40-year-old driver pays an average of $811 per year for a state minimum car insurance policy in Colorado.

However, pricing can vary greatly based on your driver profile. A teenager with a full coverage policy pays $3,819 per year on average in Colorado, which is $2,369 more than the state average for a 40-year old driver.

To better understand how rates fluctuate, MoneyGeek has broken down Colorado's average insurance costs by influencing factors.

Average Cost of Car Insurance in Colorado: Summary

MoneyGeek analyzed how much car insurance is in Colorado based on the factors that significantly influence auto insurance rates.

The two factors that highly affect whether your Colorado car insurance rate is high or low are age and credit score.

Average Costs of Car Insurance in Colorado

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Why Are Car Insurance Rates Average in Colorado?

According to MoneyGeek's national research, Colorado has moderate or average car insurance rates. That’s because the state ranks second in vehicle theft, 86% of its drivers live in cities, there’s increased traffic congestion and risk of accidents.

Despite its high urban population and vehicle theft rate, three factors help keep Colorado’s car insurance rates at an average level: The state has moderate ratings for highway traffic density and uninsured motorists, and it is less vulnerable to natural disasters. If you receive an expensive quote for full coverage car insurance in Colorado, it could be due to the high instance of any of these factors in your area.

Average Cost of Car Insurance in Colorado: Full Coverage vs. Minimum Coverage

Colorado has an average cost of $811 per year for an auto policy that meets the state’s minimum coverage requirement. The average price of full coverage car insurance in Colorado is $1,450. There is a big difference of $639 between the two coverage options.

Colorado's average car insurance cost depends on the amount of coverage you choose. Auto insurance companies offer several options, with the state’s minimum coverage of liability only being the cheapest. You pay more when you add to it.

A full coverage insurance policy gives you comprehensive, collision and liability coverage. That explains why it is more expensive than a minimum insurance policy in Colorado.

Average Cost of Car Insurance in Colorado by Coverage Level

Minimum vs. Full Coverage Car Insurance Costs in Colorado - By Company

Each insurance company quotes differently, so the insurer you choose will have a significant impact on how much your car insurance is in Colorado. On average, GEICO provides the cheapest car insurance in Colorado for full coverage insurance plans and minimum liability plans.

USAA is the cheapest company for liability-only auto policies and full coverage plans, but its policies are only available to current and former military personnel and their families. GEICO does not have restrictions on who it insures.

Progressive, on average, offers the most expensive Colorado car insurance for minimum liability coverage, while MetLife is the most expensive option for a full coverage policy.

Average Annual Costs of Car Insurance in Colorado - By Company

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How Much Is Car Insurance in Colorado by Age

Your age is a significant factor that determines your average car insurance cost. Considered inexperienced, young drivers pay more for their high-risk classification.

The annual premium of a 16-year-old’s insurance policy in Colorado compared to a 40-year-old differs by an average of $2,369 each year. The best way for a young driver to save money on Colorado car insurance rates is to join their parent's auto insurance policy.

New or first-time drivers in Colorado, regardless of age, are seen as hazardous, like young drivers, and may face insurance costs comparable to those of teens.

Average Costs of Full Coverage Car Insurance in Colorado - By Age

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  • Age
    Annual Premium
  • $3,819
  • $3,545
  • $3,254
  • $2,943
  • $2,583
  • $2,038
  • $1,888
  • $1,725
  • $1,634
  • $1,493
  • $1,372
  • 40
    $1,450
  • $1,280

How Does Driving History Affect Car Insurance Costs in Colorado?

People with car accidents or traffic violations on their record are considered high-risk by insurance providers and face higher car insurance costs in Colorado. However, by looking around, those with a bad driving history can easily get affordable rates in Colorado.

MoneyGeek’s research finds that getting a speeding ticket might cost you around $251 more per year compared to someone with a clean driving record. The cost difference climbs in proportion to the severity of the violation.

Average Costs of Full Coverage Car Insurance in Colorado - By Driving History

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  • Driving Violation
    Annual Premium
  • Safe Driver
    $1,450
  • Speeding Ticket
    $1,701
  • At-Fault Accident
    $2,080
  • DUI
    $2,187

Credit Scores and the Cost of Car Insurance in Colorado

In Colorado, insurers consider your credit score when determining your car insurance costs. If you have a good or excellent credit score, you can save big on insurance premiums. MoneyGeek finds an excellent credit score can save you $284 a year on car insurance over a person with a good credit score.

With a poor credit rating, you may experience higher premiums, as much as $1,020 more per year in Colorado than people with a good credit score, but you can still find affordable rates in Colorado.

Average Costs of Full Coverage Car Insurance in Colorado - By Credit Score

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  • Credit Score
    Annual Premium
  • Excellent
    $1,211
  • Good
    $1,495
  • Fair
    $1,781
  • Below Fair
    $2,090
  • Poor
    $2,515

How Much Is Car Insurance in Your City?

According to MoneyGeek's research, car insurance premiums vary substantially between cities in Colorado. While Fort Collins has the cheapest car insurance rates, Pueblo has the state's most expensive. When compared to the state’s average insurance rate of $1,450 for full coverage, Pueblo's average annual insurance is $68 higher, and Fort Collins' is $338 lower.

If you reside in a densely populated area with a high risk of road accidents or in an area prone to natural disasters, your insurance premium is higher as well. Your area’s rate of vehicle theft can also significantly change your insurance premiums.

Average Costs of Full Coverage Car Insurance in Colorado - By City

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Frequently Asked Questions About Colorado Car Insurance Rates

People who want to know about car insurance rates in Colorado may often have the following questions.

Methodology

MoneyGeek used car insurance quotes in partnership with Quadrant Information Services. All the policies considered were for a 40-year-old driver in Colorado with a clean driving record and full coverage, unless amended by certain parameters listed above, including coverage levels, age, driving violations and credit score. Our methodology page describes the particular limits of the full coverage policy.

MoneyGeek also gathered the following information on traffic density, uninsured motorists, urban population percentage and motor vehicle theft statistics:

  • Highway traffic density was calculated with 2019 data from the Federal Highway Administration
  • Data on uninsured motorists was drawn from 2019 data from the Insurance Research Council
  • Urban share of population was calculated using the latest data from the U.S. Census Bureau
  • Data on motor vehicle theft rate was drawn from the FBI Crime in the United States Report for 2019

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.