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American National P&C is the cheapest company for various types of drivers from average drivers looking for minimum and full coverage policies, young drivers, senior drivers, military drivers and those with different driving violations. GEICO is worth considering if you have poor credit. Auto-Owners Insurance Co. is the cheapest if you’re looking to insure sports cars. Finally, teen drivers may be able to find the cheapest offers from Kemper Insurance.

Our analysis of the top-rated car insurance in Colorado balances cost considerations with quality service.

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2023

Cheapest Car Insurance Colorado (April 2023)

Cheapest Minimum Liability Car Insurance in Colorado (April 2023)

In Colorado, the following companies offer the cheapest car insurance for the state’s minimum coverage requirements:

  • American National P&C: $230 per year
  • Colorado Farm Bureau: $293 per year

In comparison, the most expensive insurer for minimum coverage, Allstate, has an average annual premium cost of $717 per year.

A minimum coverage policy covers bodily injury and property damage liability.

Company
Annual Premium
Monthly Premium

American National P&C

$230

$19

American National P&C

$264

$22

American National P&C

$276

$23

Colorado Farm Bureau

$293

$24

GEICO

$329

$27

Auto-Owners Insurance Co

$352

$29

GEICO

$364

$30

GEICO

$368

$31

A minimum coverage policy in Colorado ensures that you’ll be able to pay for damages you cause if you’re found at fault in an accident. However, to ensure that you and your vehicle are also protected, you’ll want to obtain a full coverage policy that contains comprehensive and collision insurance.

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Cheapest Full Coverage Car Insurance in Colorado (April 2023)

Based on MoneyGeek’s gathered quotes, the following companies offer the cheapest full coverage auto insurance in Colorado:

  • American National P&C: $586 per year
  • Colorado Farm Bureau: $781 per year

American Family offers the most expensive full coverage policies in Colorado, with an average annual cost of $1,415.

A full coverage policy costs more as it contains comprehensive and collision insurance. Compared with a policy with minimum coverage, a full coverage policy from American National P&C costs an additional $356 per year.

However, this added cost comes with added peace of mind. With a full coverage policy, you’ll be protected against expenses from on-road incidents like hitting a tree or a hit-and-run driver, to off-road incidents like floods and storms.

Company
Annual Premium
Monthly Premium

American National P&C

$230

$19

American National P&C

$264

$22

American National P&C

$276

$23

Colorado Farm Bureau

$293

$24

GEICO

$329

$27

Auto-Owners Insurance Co

$352

$29

GEICO

$364

$30

GEICO

$368

$31

How much car insurance you need will significantly impact your car insurance rate. Ideally, a full coverage policy should have the following liability limits:

  • $100,000 in bodily injury liability per person
  • $300,000 in bodily injury liability per accident
  • $100,000 in property damage liability per accident

MoneyGeek recommends having sufficient coverage limits to ensure that you’re fully protected. The limits included above are recommended limits for the average driver.

As this is a personal choice, you may choose to meet these coverage amounts or opt for lower liability limits based on your budget. Keep in mind, however, that you risk paying more out of pocket if you get into an accident.

How to Compare Cheap Colorado Car Insurance Quotes Online

Drivers in Colorado can compare rates from insurers by visiting the insurer’s website and going through the pre-application process. However, inputting the required information with a single insurer could take up to 15 minutes. Because you’ll have to complete this process multiple times to adequately compare insurers, finding the best car insurance rate for you can take time.

To expedite the process, MoneyGeek’s insurance calculator quickly approximates your rate and identifies the cheapest insurer for your driver profile. Although this is a great place to start, it’s important to emphasize that this is only an estimate; your actual rates may vary.

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Cheapest Car Insurance in Colorado for Teens and Their Families (April 2023)

In Colorado, teen drivers added to their family’s policy can find the cheapest full coverage car insurance policies from the following companies:

  • Kemper: $1,393 per year for male teens and $2,015 for female teens
  • GEICO: $2,215 per year for male teens and $2,103 female teens

Farmers offers the most expensive policies for teen drivers at $4,465 per year for male teens and $4,206 per year for female teens.

Car insurance premiums for teens significantly decrease as they age, with 19-year-olds receiving the cheapest rates. In Colorado, Kemper ($1,393 per year) provides the most affordable car insurance premiums for 19-year-old males.

Car insurance purchased individually for teens is significantly more expensive than the cost of adding a teen to a family policy. A 16-year-old male driver can save an average of $3,923 per year by being added to their family plan vs. purchasing individual insurance.

Company
Family Plan Annual Premium
Individual Plan Annual Premium

Kemper

$1,393

$7,816

Kemper

$2,015

$6,700

GEICO

$2,103

$8,042

GEICO

$2,215

$7,441

Allstate

$2,385

$6,676

Allstate

$2,385

$6,676

Nationwide

$2,399

$4,577

State Farm

$2,474

$3,388

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On average, car insurance rates for male teens tend to be significantly more expensive than for female teens. This rate difference is not as notable when drivers reach their 20s and beyond.

Families may be able to save on car insurance by receiving discounts for young drivers, such as good student and distant student discounts. Progressive and State Farm both offer these common discounts.

Cheapest Car Insurance in Colorado for Young Adults (April 2023)

In Colorado, the following companies offer the cheapest full coverage car insurance for 25-year-old drivers:

  • American National P&C: $724 per year
  • GEICO: $914 per year

Acuity offers the most expensive policies at $1,902 per year.

Drivers in their 20s will pay more for car insurance than middle-aged drivers. American National P&C’s policies for 40-year-old drivers are $138 cheaper than those for 25-year-old drivers.

Company
Annual Premium
Monthly Premium

American National P&C

$230

$19

American National P&C

$264

$22

American National P&C

$276

$23

Colorado Farm Bureau

$293

$24

GEICO

$329

$27

Auto-Owners Insurance Co

$352

$29

GEICO

$364

$30

GEICO

$368

$31

Cheapest Car Insurance in Colorado for Seniors (April 2023)

For senior drivers, the following companies offer the cheapest full coverage car insurance in Colorado:

  • American National P&C: $575 per year
  • GEICO: $807 per year

The most expensive company is Acuity, which sells policies at an average of $1,365 per year.

Senior drivers may pay more or less for car insurance depending on the state and company. In Colorado, American National P&C charges senior drivers $11 less per year than 40-year-old drivers, whereas GEICO charges seniors $1 more.

As senior drivers age into their 70s and 80s, car insurance rates typically increase.

Company
Annual Premium
Monthly Premium

American National P&C

$230

$19

American National P&C

$264

$22

American National P&C

$276

$23

Colorado Farm Bureau

$293

$24

GEICO

$329

$27

Auto-Owners Insurance Co

$352

$29

GEICO

$364

$30

GEICO

$368

$31

Seniors looking to save should take advantage of discounts from certain insurers in Colorado. Allstate, American Family, Farmers, GEICO and Kemper offer discounts for senior drivers in the state.

Since many factors besides age are taken into account when rating insurance premiums, it’s always best to compare insurers to find the best rate and coverage for you.

Cheapest Car Insurance in Colorado After a Ticket, Accident or DUI (April 2023)

A driving violation will increase the cost of your car insurance. However, you can still find a reasonable rate by comparison shopping with different providers.

Based on our research, American National P&C offers the cheapest insurance to drivers with a speeding ticket, at-fault accident or DUI on their record.

CHEAPEST CAR INSURANCE COMPANIES AFTER A DRIVING INCIDENT

Cheapest after a ticket: American National P&C ($681 per year)
Cheapest after an accident: American National P&C ($785 per year)
Cheapest after a DUI: American National P&C ($872 per year)

Cheapest Car Insurance in Colorado After a Ticket

Having a speeding ticket on your record will increase the cost of your car insurance. The following companies offer the most affordable insurance policies the drivers in Colorado with speeding tickets:

  • American National P&C: $681 per year
  • Colorado Farm Bureau: $946 per year

The most expensive company for drivers with a ticket is Acuity at $3,011 per year.

On average, drivers with tickets pay $333 more than drivers with a clean driving history.

Company
Annual Premium
Monthly Premium

American National P&C

$279

$23

American National P&C

$319

$27

American National P&C

$334

$28

Colorado Farm Bureau

$391

$33

GEICO

$394

$33

Auto-Owners Insurance Co

$405

$34

Auto-Owners Insurance Co

$409

$34

State Farm

$427

$36

Cheapest Car Insurance in Colorado After an Accident

The cheapest car insurance companies in Colorado for drivers with an at-fault accident are:

  • American National P&C: $785 per year
  • Colorado Farm Bureau: $975 per year

The most expensive company is Acuity, offering policies at $3,011 per year.

On average, drivers in Colorado with an at-fault accident on their record pay $548 more per year than those with a clean driving history.

Company
Annual Premium
Monthly Premium

American National P&C

$331

$28

Colorado Farm Bureau

$371

$31

American National P&C

$380

$32

American National P&C

$396

$33

State Farm

$469

$39

State Farm

$499

$42

Colorado Farm Bureau

$532

$44

GEICO

$541

$45

Cheapest Car Insurance in Colorado After a DUI

The following companies offer the cheapest car insurance for drivers with a DUI violation in Colorado:

  • American National P&C: $872 per year
  • Colorado Farm Bureau: $1,006 per year

The most expensive company is Acuity, with policies costing an average of $3,011 per year.

Drivers in Colorado with a DUI pay $691 more per year, on average, than drivers with a clean record.

Company
Annual Premium
Monthly Premium

American National P&C

$375

$31

State Farm

$427

$36

American National P&C

$431

$36

Colorado Farm Bureau

$434

$36

American National P&C

$451

$38

State Farm

$453

$38

Progressive

$568

$47

State Farm

$583

$49

Cheapest Car Insurance in Colorado for Drivers With Poor Credit (April 2023)

A poor credit score may also increase the cost of your insurance. The following companies offer the cheapest policies in Colorado for drivers with poor credit:

  • GEICO: $1,183 per year
  • Nationwide: $1,463 per year

Auto-Owners Insurance offers the most expensive full coverage policies for drivers with poor credit at $2,745 per year.

A poor credit score may increase the cost of your full coverage insurance policy by an additional $832 per year compared with drivers with good credit.

Company
Annual Premium
Monthly Premium

GEICO

$1,348

$112

Nationwide

$1,878

$157

Allstate

$2,139

$178

Progressive

$2,173

$181

Colorado Farm Bureau

$2,264

$189

Acuity

$2,365

$197

Kemper

$2,379

$198

American National P&C

$2,435

$203

Insurers have found that those drivers with poor credit scores are more likely to file insurance claims. Because of this, they typically charge them more for car insurance. It’s illegal in some states for insurers to factor in your credit score, but Colorado allows it.

To find the best insurer, given your credit score and financial situation, you should compare lenders for their rates and discount offerings.

Cheapest Car Insurance in Colorado for Sports Cars (April 2023)

Sports cars are also typically more expensive to insure because it costs more to repair them and replace parts. The following companies offer the cheapest car insurance in Colorado for sports car drivers:

  • Auto-Owners Insurance Co: $939 per year
  • GEICO: $999 per year

Kemper, at $1,384 per year, is the most expensive insurer in the state.

Drivers of a Ford Mustang in Colorado pay an average of $135 more for car insurance than those that drive a Toyota Camry.

Company
Annual Premium
Monthly Premium

American National P&C

$230

$19

American National P&C

$264

$22

American National P&C

$276

$23

Colorado Farm Bureau

$293

$24

GEICO

$329

$27

Auto-Owners Insurance Co

$352

$29

GEICO

$364

$30

GEICO

$368

$31

Your car’s model is another factor that affects your insurance rates. Luxury cars, such as electric and sports cars, are much more expensive to insure than other car models. Shopping around can help you find a lower rate.

Although we used a Ford Mustang as our sample car model for sports cars, remember that rates may vary depending on the specific car you are looking to insure.

Cheapest Car Insurance in Colorado for Military Drivers (April 2023)

Active duty military members and veterans can find the cheapest policies from American National P&C. This insurer offers full coverage policies for $386 per year.

Another insurer worth considering is USAA, which sells policies at $759 per year. USAA tailors its policies and discounts to military members.

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MoneyGeek Top Pick
American National P&C
  • $386 per year
  • Ranks first out of 14 insurers for affordability

Cheapest Car Insurance in Colorado by City

The cost of car insurance varies significantly depending on where you live. Though American National P&C consistently offers the cheapest insurance, its rates differ by city. For instance, drivers in Fort Collins pay an average of $561 per year for car insurance, in comparison to drivers in Denver, who pay $743 per year. Click to learn more about car insurance in each city.

City
Cheapest Company
Annual Premium

Arvada

American National P&C

$682

Aurora

American National P&C

$805

Boulder

American National P&C

$602

Centennial

American National P&C

$717

Colorado Springs

American National P&C

$752

Denver

American National P&C

$801

Fort Collins

American National P&C

$601

Greeley

American National P&C

$623

Car Insurance in Colorado: What You Need to Know

Colorado drivers are required to carry bodily injury liability and property damage liability. Drivers without their own vehicle are still required to carry a certain type of insurance alternative.

In the below sections, you can learn more about the minimum car insurance requirements and recommended liability limits in Colorado.

Colorado Car Insurance Requirements

Each state has certain coverage requirements for drivers. In Colorado, you need to have bodily injury liability and property damage liability coverage to drive legally.

Although a minimum car insurance policy will be the least expensive, it’s important to remember that it only covers damages to other drivers, not your or your vehicle. MoneyGeek recommends purchasing as much liability coverage as possible, based on your budget.

Drivers may also be required to get an SR-22 in Colorado after repeated driving offenses.

  • male icon

    Bodily Injury Liability

    Minimum car insurance laws in Colorado require drivers to carry at least $25,000 bodily injury liability per person and $50,000 bodily injury liability per accident. This covers medical expenses to others if you’re found at fault in an accident. Though this is the coverage required by law, MoneyGeek recommends purchasing additional coverage to avoid paying high out-of-pocket expenses.

  • accident2 icon

    Property Damage Liability

    Colorado state law also requires drivers to have a minimum of $15,000 in property damage liability to help pay for the damages caused to another’s vehicle.

MoneyGeek recommends purchasing $100,000 in bodily injury liability per person, $300,000 in bodily injury liability per accident and $100,000 in property damage insurance per accident. This will help you avoid paying high out-of-pocket costs if you get in an accident.

If you’re insuring an older car, you may not need a full coverage policy. On the other hand, if you own a new or financed car, you may need to obtain comprehensive and collision insurance to safeguard against collision and non-collision events.

Car Insurance Alternatives in Colorado

A non-owner car insurance in Colorado is an alternative to regular car insurance for drivers who don’t own the car they are driving. When filing an SR-22 to get your license reinstated after a series of violations, you may also need to obtain this insurance.

The Colorado’s Department of Revenue Division of Motor Vehicles is also a good source for common vehicle insurance inquiries.

FAQs About Car Insurance in Colorado

MoneyGeek answered some of the most frequently asked questions regarding cost and quality of car insurance in Colorado.

Expert Advice on Finding Cheap Car Insurance in Colorado

To help you find credible and accurate insight on car insurance in Colorado, MoneyGeek received expert advice from trusted professionals. The perspectives and opinions expressed are those of the individual contributor.

  1. What are the key factors drivers in Colorado should look for when searching for the best auto insurance coverage?
  2. What steps can drivers in Colorado take to find affordable car insurance?
Maclyn L. Clouse, PhD
Maclyn L. Clouse, PhD

Sorenson Distinguished Professor of Finance at the University of Denver

Sharon Lassar
Sharon Lassar

John J. Gilbert Endowed Professor and Director, School of Accountancy at the University of Denver

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark earned a master’s degree in Economics and International Relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.


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