Cheapest Car Insurance in Colorado (June 2024)


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ByMark Fitzpatrick
Reviewed byMark Friedlander
Contributions by2 experts
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ByMark Fitzpatrick
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Reviewed byMark Friedlander
Edited byRae Osborn
Contributions by2 experts
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Updated: June 14, 2024

Advertising & Editorial Disclosure

American National P&C is the cheapest company for minimum car insurance policy in Colorado. GEICO, Kemper and Auto-Owners offer the most affordable policies for certain types of drivers.

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

MoneyGeek Logo IconCheapestCar InsuranceColorado
2024

Why Trust MoneyGeek? MoneyGeek completed a thorough analysis using data from the Colorado Division of Insurance and Quadrant Information Services to find you the best car insurance rates for your profile.

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These rates reflect the cheapest car insurance quotes in Colorado as of June 2024.

106,836Quotes Analyzed
 
14Companies Compared
 
101ZIP Codes

Cheapest Minimum Liability Car Insurance in Colorado (June 2024)

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

  • American National P&C: $283 per year
  • Colorado Farm Bureau: $284 per year

In comparison, the most expensive insurer for minimum coverage, Farmers Union Insurance, has an average annual premium cost of $1,019 per year. Colorado's minimum coverage policy only covers bodily injury and property damage liability.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Minimum Coverage
American National P&CAnnual Premium$283Monthly Premium$24
Colorado Farm BureauAnnual Premium$284Monthly Premium$24
GEICOAnnual Premium$377Monthly Premium$31
American FamilyAnnual Premium$499Monthly Premium$42
AcuityAnnual Premium$512Monthly Premium$43
Auto-Owners Insurance CoAnnual Premium$562Monthly Premium$47
State FarmAnnual Premium$573Monthly Premium$48
ProgressiveAnnual Premium$583Monthly Premium$49

A minimum coverage policy in Colorado pays for damages you cause if you’re found at fault in an accident, but the limits are low, so it might not cover the full amount. To ensure that your vehicle is also protected, you’ll want to obtain a full coverage policy with comprehensive collision insurance.

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Find the Best Car Insurance in Colorado for You

 

Your preferred insurer and coverage amount will have the most impact on the cost of your car insurance policy. In the table above, drivers can compare rates for a minimum coverage policy in Colorado.

Learn more about how much car insurance you need when shopping for policies in Colorado.

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MoneyGeek analyzed the best auto insurance companies in Colorado based on service and cost.

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MoneyGeek analyzed the average cost of car insurance in Colorado for different driver profiles and other factors.

Cheapest Full Coverage Car Insurance in Colorado (June 2024)

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

  • American National P&C: $721 per year
  • Colorado Farm Bureau: $743 per year

Farmers Union Insurance offers the most expensive full coverage policies in Colorado, with an average annual cost of $2,180.

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 costs an additional $438 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 vehicle theft.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Full Coverage
American National P&CAnnual Premium$721Monthly Premium$60
Colorado Farm BureauAnnual Premium$743Monthly Premium$62
GEICOAnnual Premium$995Monthly Premium$83
Auto-Owners Insurance CoAnnual Premium$1,220Monthly Premium$102
American FamilyAnnual Premium$1,237Monthly Premium$103
AcuityAnnual Premium$1,317Monthly Premium$110
ProgressiveAnnual Premium$1,322Monthly Premium$110
AllstateAnnual Premium$1,443Monthly Premium$120

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 can 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 at-fault 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.

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

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Jun 21, 2024

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Cheapest Car Insurance in Colorado by Age (June 2024)

How much you spend on car insurance in Colorado varies significantly by your age. Kemper provides the most economical options on average for teens, while American National P&C offers the most affordable coverage for both young adults and seniors.

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CHEAPEST CAR INSURANCE COMPANIES BY AGE

Cheapest Car Insurance in Colorado for Teens and Their Families (June 2024)

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

  • 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 for 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.

Car insurance purchased individually for teens is significantly more expensive than the cost of adding a teen to a family policy. Plus, in most cases, a teen under 18 cannot legally get auto insurance without a parent or guardian's written consent. A 16-year-old male driver can save an average of $3,923 per year by being added to a family plan instead of purchasing individual insurance.

Data filtered by:Results filtered by:
Gender:
Gender:Female
Age:
Age:16
KemperFamily Plan Annual Premium$2,015Individual Plan Annual Premium$6,700
GEICOFamily Plan Annual Premium$2,103Individual Plan Annual Premium$8,042
AllstateFamily Plan Annual Premium$2,385Individual Plan Annual Premium$6,676
NationwideFamily Plan Annual Premium$2,399Individual Plan Annual Premium$4,577
State FarmFamily Plan Annual Premium$2,474Individual Plan Annual Premium$3,388
Auto-Owners Insurance CoFamily Plan Annual Premium$3,151Individual Plan Annual Premium$3,104
ProgressiveFamily Plan Annual Premium$3,627Individual Plan Annual Premium$6,603
FarmersFamily Plan Annual Premium$4,206Individual Plan Annual Premium$10,975
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MONEYGEEK EXPERT TIP

On average, car insurance rates for male teens tend to be significantly more expensive than for female teens because they are considered riskier drivers with higher accident frequency rates than female teens. This rate difference is not as notable when drivers reach their 20s and beyond.

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

Cheapest Car Insurance in Colorado for Young Adults (June 2024)

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

  • American National P&C: $892 per year
  • GEICO: $1,128 per year

Farmers Union Insurance offers the most expensive policies at $2,707 per year. Drivers in their 20s will pay more for car insurance than middle-aged drivers. Insurance for 40-year-old drivers is about $368 cheaper than for 25-year-old drivers.

Data filtered by:Results filtered by:
Age Range:
Age Range:22-29
Coverage Level:
Coverage Level:Full Coverage
American National P&CAnnual Premium$892Monthly Premium$74
GEICOAnnual Premium$1,128Monthly Premium$94
Colorado Farm BureauAnnual Premium$1,151Monthly Premium$96
American FamilyAnnual Premium$1,530Monthly Premium$128
ProgressiveAnnual Premium$1,626Monthly Premium$136
Auto-Owners Insurance CoAnnual Premium$1,650Monthly Premium$137
AllstateAnnual Premium$1,759Monthly Premium$147
FarmersAnnual Premium$1,825Monthly Premium$152

Cheapest Car Insurance in Colorado for Seniors (June 2024)

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

  • American National P&C: $706 per year
  • Colorado Farm Bureau: $916 per year

The most expensive company is Farmers Union Insurance, which sells policies at an average of $2,358 per year.

Depending on the state and company, senior drivers pay more or less for car insurance. In Colorado, MoneyGeek found that senior drivers pay $23 less per year than 40-year-old drivers. As senior drivers age into their 70s and 80s, car insurance rates typically increase due to increased accident frequency.

Data filtered by:Results filtered by:
Age Range:
Age Range:60 +
Coverage Level:
Coverage Level:Full Coverage
American National P&CAnnual Premium$706Monthly Premium$59
Colorado Farm BureauAnnual Premium$916Monthly Premium$76
GEICOAnnual Premium$985Monthly Premium$82
American FamilyAnnual Premium$1,066Monthly Premium$89
Auto-Owners Insurance CoAnnual Premium$1,107Monthly Premium$92
ProgressiveAnnual Premium$1,286Monthly Premium$107
AcuityAnnual Premium$1,317Monthly Premium$110
NationwideAnnual Premium$1,346Monthly Premium$112

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

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

Cheapest Car Insurance for Higher Risk Drivers (June 2024)

Based on our research, American National P&C offers the cheapest insurance to drivers with a speeding ticket. Colorado Farm Bureau is the most affordable for drivers with at-fault accidents and with DUIs. American Family provides the cheapest option for those with sports cars.

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. Drivers with low credit scores can save with GEICO.

CHEAPEST CAR INSURANCE FOR HIGHER RISK DRIVERS

Cheapest after a ticket: American National P&C ($838 per year)
Cheapest after an accident: Colorado Farm Bureau ($928 per year)
Cheapest after a DUI: Colorado Farm Bureau ($960 per year)
Cheapest for poor credit: GEICO ($1,464 per year)
Cheapest for sports cars: American Family ($1,122 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 to drivers in Colorado with speeding tickets:

  • American National P&C: $838 per year
  • Colorado Farm Bureau: $903 per year

The most expensive company for drivers with a ticket is Farmers Union Insurance at $2,989 per year. On average, drivers with tickets pay $394 more than drivers with a clean driving history.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Full Coverage
American National P&CAnnual Premium$838Monthly Premium$70
Colorado Farm BureauAnnual Premium$903Monthly Premium$75
GEICOAnnual Premium$1,256Monthly Premium$105
Auto-Owners Insurance CoAnnual Premium$1,325Monthly Premium$110
American FamilyAnnual Premium$1,418Monthly Premium$118
AllstateAnnual Premium$1,617Monthly Premium$135
State FarmAnnual Premium$1,651Monthly Premium$138
ProgressiveAnnual Premium$1,735Monthly Premium$145

Cheapest Car Insurance in Colorado After an Accident

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

  • Colorado Farm Bureau: $928 per year
  • American National P&C: $965 per year

The most expensive company is Farmers Union Insurance, offering policies at $3,344 per year. On average, drivers in Colorado with an at-fault accident on their record pay $674 more per year than those with a clean driving history.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Full Coverage
Colorado Farm BureauAnnual Premium$928Monthly Premium$77
American National P&CAnnual Premium$965Monthly Premium$80
American FamilyAnnual Premium$1,464Monthly Premium$122
GEICOAnnual Premium$1,733Monthly Premium$144
State FarmAnnual Premium$1,784Monthly Premium$149
Auto-Owners Insurance CoAnnual Premium$1,903Monthly Premium$159
AllstateAnnual Premium$2,024Monthly Premium$169
ProgressiveAnnual Premium$2,182Monthly Premium$182
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MONEYGEEK EXPERT TIP

It never hurts to plan ahead when choosing car insurance coverages. Even the safest drivers with clean records may find themselves in an at-fault accident, which is why including accident forgiveness on your policy is a wise decision. This optional coverage stops your premium from increasing after your first at-fault accident, which can save you a great deal of money on your policy's premium for years. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute

Cheapest Car Insurance in Colorado After a DUI

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

  • Colorado Farm Bureau: $960 per year
  • American National P&C: $1,072 per chlorine_smelling_salts

The most expensive company is Kemper, with policies costing an average of $3,893 per year. Drivers in Colorado with a DUI pay $878 more per year, on average than drivers with a clean record.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Full Coverage
Colorado Farm BureauAnnual Premium$960Monthly Premium$80
American National P&CAnnual Premium$1,072Monthly Premium$89
American FamilyAnnual Premium$1,418Monthly Premium$118
ProgressiveAnnual Premium$1,557Monthly Premium$130
State FarmAnnual Premium$1,651Monthly Premium$138
AllstateAnnual Premium$1,917Monthly Premium$160
FarmersAnnual Premium$2,126Monthly Premium$177
Auto-Owners Insurance CoAnnual Premium$2,335Monthly Premium$195

Cheapest Car Insurance in Colorado for Drivers With Poor Credit (June 2024)

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

  • GEICO: $1,464 per year
  • Colorado Farm Bureau: $1,491 per year

Farmers Union Insurance offers the most expensive full coverage policies for drivers with poor credit at $3,823 per year. A poor credit score may increase the cost of your full coverage insurance policy by an additional $1,055 per year compared with drivers with good credit.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Full Coverage
GEICOAnnual Premium$1,464Monthly Premium$122
Colorado Farm BureauAnnual Premium$1,491Monthly Premium$124
American FamilyAnnual Premium$1,923Monthly Premium$160
NationwideAnnual Premium$2,010Monthly Premium$167
AcuityAnnual Premium$2,017Monthly Premium$168
AllstateAnnual Premium$2,117Monthly Premium$176
ProgressiveAnnual Premium$2,195Monthly Premium$183
FarmersAnnual Premium$2,369Monthly Premium$197

Insurers have found that those drivers with poor credit-based insurance 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 (June 2024)

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

  • American Family: $1,122 per year
  • Auto-Owners Insurance Co: $1,186 per year

Kemper, at $1,933 per year, is the most expensive insurer in the state. Drivers of a Ford Mustang in Colorado pay an average of $182 more for car insurance than those who drive a Toyota Camry.

Data filtered by:Results filtered by:
Age Range:
Age Range:30-59
Coverage Level:
Coverage Level:Full Coverage
American FamilyAnnual Premium$1,122Monthly Premium$94
Auto-Owners Insurance CoAnnual Premium$1,186Monthly Premium$99
GEICOAnnual Premium$1,270Monthly Premium$106
FarmersAnnual Premium$1,421Monthly Premium$118
AllstateAnnual Premium$1,499Monthly Premium$125
ProgressiveAnnual Premium$1,660Monthly Premium$138
NationwideAnnual Premium$1,711Monthly Premium$143
State FarmAnnual Premium$1,851Monthly Premium$154

Your car’s model is another factor that affects your insurance rates. To determine the cheapest rates for drivers with a sports car, we used a Ford Mustang to collect quotes from multiple insurers. You are more likely to pay higher premiums with an electric, luxury or sports car than any other car model type. However, this does not apply to your state since insurance carriers consider several other factors while determining rates.

Cheapest Car Insurance in Colorado for Military Drivers (June 2024)

Active-duty military members and veterans can find the cheapest policies from American National P&C. This insurer offers full coverage policies for $721 per year.

Another insurer worth considering is USAA, which sells policies at $877 per year. USAA tailors its policies and discounts to members of the military community.

GEICO also has military-focused coverage and discounts — you could save as much as 15%.

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MoneyGeek Top Pick
American National Insurance Company
  • $721 annual premium
  • First in terms of affordability out of 14 insurers
  • No military discount available, but remains the most cost-effective option in Colorado.

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 $750 per year for car newsurance, compared to drivers in Aurora, who pay $1,003 per year, a difference of $253.

ArvadaCheapest CompanyAmerican National P&CAnnual Premium$851
AuroraCheapest CompanyAmerican National P&CAnnual Premium$1,003
BoulderCheapest CompanyAmerican National P&CAnnual Premium$753
CentennialCheapest CompanyAmerican National P&CAnnual Premium$898
Colorado SpringsCheapest CompanyColorado Farm BureauAnnual Premium$907
DenverCheapest CompanyColorado Farm BureauAnnual Premium$998
Fort CollinsCheapest CompanyAmerican National P&CAnnual Premium$750
GreeleyCheapest CompanyAmerican National P&CAnnual Premium$778

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 Colorado's minimum car insurance requirements and recommended liability limits.

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 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.

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    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.

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    Property Damage Liability

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

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 into an at-fault accident.

If you’re insuring an older car, you might not need a full coverage policy. On the other hand, if you own a new, financed or leased car, you probably need to obtain comprehensive and collision insurance to safeguard against collision and non-collision events. For example, collision pays to repair your vehicle's damages in a collision with another car or an object, such as a light pole. Comprehensive coverage covers damage your car may incur from weather events, such as hail or floods, and pays out for theft and vandalism.

Car Insurance Alternatives in Colorado

A non-owner car insurance policy 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, a certificate of financial responsibility, to get your license reinstated after a series of violations, you may also need to obtain this insurance.

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

FAQ: Car Insurance in Colorado

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

Which company offers the cheapest car insurance in Colorado?
Should you buy the cheapest car insurance available in Colorado?
Is SR-22 insurance mandatory in Colorado after a DUI?

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?
Sharon Lassar
Sharon LassarJohn J. Gilbert Endowed Professor and Director, School of Accountancy at the University of Denver
Maclyn L. Clouse, Ph.D.
Maclyn L. Clouse, Ph.D.Sorenson Distinguished Professor of Finance at the University of Denver

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick 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 knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.


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