The Cheapest Car Insurance in Colorado (October 2023)

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. For other types of drivers, MoneyGeek found that GEICO and Kemper could be more affordable.

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

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 $840 per year.

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

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.

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

Kemper offers the most expensive full coverage policies in Colorado, with an average annual cost of $1,695.

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.

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.

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.

How much you spend on car insurance in Colorado varies greatly by your age. Kemper and American National P&C provide the most economical options on average for different age groups in your family.

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.

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.

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 $2,175 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.

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 Kemper, which sells policies at an average of $1,794 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.

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

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.

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.

Drivers with low credit scores can save with GEICO, which also provides the cheapest options for those with sports cars.

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 $3,452 per year.

On average, drivers with tickets pay $372 more than drivers with a clean driving history.

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 $3,452 per year.

On average, drivers in Colorado with an at-fault accident on their record pay $610 more per year than those with a clean driving history.

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 Kemper, with policies costing an average of $3,893 per year.

Drivers in Colorado with a DUI pay $797 more per year, on average, than drivers with a clean record.

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
• Colorado Farm Bureau: $1,567 per year

Auto-Owners Insurance offers the most expensive full coverage policies for drivers with poor credit at $3,173 per year.

A poor credit score may increase the cost of your full coverage insurance policy by an additional $915 per year compared with drivers with good credit.

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.

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:

• GEICO: $999 per year
• Auto-Owners: $1,084 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 $185 more for car insurance than those who drive a Toyota Camry.

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.

Active duty military members and veterans can find the cheapest policies from American National P&C. This insurer offers full coverage policies for $586 per year.

Another insurer worth considering is USAA, which sells policies at $842 per year. USAA tailors its policies and discounts to military members.

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 $601 per year for car insurance, in comparison to drivers in Aurora, who pay $805 per year.

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.

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.

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.

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.

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