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Cheapest Car Insurance Companies and Quotes in Colorado

Finding the right insurance policy requires you to consider some individualized factors. MoneyGeek ranked the best car insurance companies in Colorado based on average annual rates for comprehensive and collision coverage. For actual costs, compare quotes from multiple carriers.

Average Comprehensive and Collision Rates in Colorado

These prices are approximate annual premium costs from various insurance companies for an average driver in Colorado. The numbers may be different from your actual costs because insurers determine premiums based on an individual’s driving history and situation. Shop around and compare prices to find the most accurate coverage and best rate for your needs.

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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

Cheapest Liability Car Insurance in Colorado

Liability insurance is a requirement for automobile owners in the state of Colorado. A liability-only policy will cover all expenses for the other party’s bodily injury and property damage if you are at fault. To include your own medical expenses and vehicle repair, you will have to get optional features like collision and comprehensive coverage. In Colorado, GEICO policyholders enjoy the cheapest premium for both the state minimum of 25/50/15 and a higher 50/100/50 coverage level. Minimum liability-only insurance from GEICO costs an average of $373 per year, while a 50/100/50 policy has a yearly average of $463.

Average Cost for Liability Coverage

The Best Car Insurance Companies in Colorado for 2021

Using relevant factors, such as affordability, claims experience, customer satisfaction and financial strength, MoneyGeek ranked the best car insurance companies in Colorado.

To calculate the scores, MoneyGeek evaluated the results of J.D. Power’s U.S. Auto Insurance Study and AM Best's financial strength ratings, along with industry standards for rating and reviewing insurance carriers. Each criterion was weighted equally to get to a final rating out of 100.

Expand All Rankings +

1

USAAScore: 100
+

5/5

User Satisfaction

5/5

Claims Ratings

5/5

Affordability

A++

Financial Stability

2

State FarmScore: 90
+

5/5

User Satisfaction

3/5

Claims Ratings

3/5

Affordability

A++

Financial Stability

3

GEICOScore: 90
+

3/5

User Satisfaction

3/5

Claims Ratings

5/5

Affordability

A++

Financial Stability

4

AllstateScore: 82.5
+

3/5

User Satisfaction

3/5

Claims Ratings

3/5

Affordability

A+

Financial Stability

5

CSAAScore: 82.5
+

3/5

User Satisfaction

2/5

Claims Ratings

5/5

Affordability

A

Financial Stability

6

Liberty MutualScore: 82.5
+

3/5

User Satisfaction

4/5

Claims Ratings

3/5

Affordability

A

Financial Stability

7

American FamilyScore: 80
+

3/5

User Satisfaction

3/5

Claims Ratings

3/5

Affordability

A

Financial Stability

8

TravelersScore: 80
+

2/5

User Satisfaction

3/5

Claims Ratings

2/5

Affordability

A++

Financial Stability

9

SafecoScore: 77.5
+

3/5

User Satisfaction

3/5

Claims Ratings

2/5

Affordability

A

Financial Stability

10

FarmersScore: 77.5
+

3/5

User Satisfaction

3/5

Claims Ratings

2/5

Affordability

A

Financial Stability

While USAA scores highly in many areas, this provider is only available to military members, veterans and their families.

Market Share by Company

According to 2018 data from the National Association of Insurance Commissioners, the most popular auto insurance companies in Colorado are State Farm, Progressive, GEICO, USAA, Allstate, American Family, Farmers, Liberty Mutual, Travelers Group and Nationwide Insurance.

State Farm has the greatest share of the Colorado auto insurance market at 18.32%, followed by Progressive at 10.95%, GEICO at 9.75% and USAA at 10.51%.

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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

What Is the Average Cost of Car Insurance in Colorado?

Auto insurance premiums depend on certain factors specific to a driver. MoneyGeek calculated the average rates for a comprehensive and collision insurance policy for a typical driver in Colorado. The average driver is a 40-year-old male who drives a Toyota Camry and has no record of accidents or speeding tickets. The actual cost may be significantly lower or higher than the state averages depending on your age, credit score, driving history and location.

  • Average Driver: $1,450
  • DUI: $2,187
  • Speeding Ticket: $1,701
  • Poor Credit Score: $2,421
  • Seniors: $1,575
  • Students: $3,407

Cheapest Car Insurance for Drivers With a DUI in Colorado

Driving while under the influence is not only dangerous for you and others, but it can also be costly. According to the Centers for Disease Control and Prevention (CDC), 1,548 people were killed in traffic crashes in Colorado due to drunk driving between 2008 and 2019. During the 30 days prior to being surveyed, 1.8% of adults in Colorado reported driving after having too much to drink.

If you get a DUI, you'll likely pay hefty fines and court fees and may have to attend alcohol education or treatment programs. Additionally, your auto insurance premium is likely to spike. If you have a DUI on your record in Colorado, you may need to shop around for car insurance to find a lower rate.

Average Car Insurance Rates With a DUI

The costs of a DUI can quickly compound. During a 13-years period, you could end up paying an additional $40,000 in insurance costs after a DUI. Maintaining a clean driving record after a DUI, paying your car insurance premiums on time and comparing quotes regularly can help keep your costs down over time.

Cheapest Car Insurance With Tickets in Colorado

Having a ticket on your record for speeding or distracted driving can increase your car insurance premium. According to the National Highway Traffic Safety Administration (NHTSA), 588 Colorado car accidents were caused by distracted driving in 2018. Driving while distracted can cause accidents, so some insurers see tickets as a risk. Colorado state laws prohibit all handheld device use for drivers younger than 18 and prohibit text messaging for all drivers, according to the Governors Highway Safety Association. Avoiding distracted driving can help keep you safe and help you maintain lower insurance costs.

Average Car Insurance Rates With a Ticket

If you get a speeding or distracted driving ticket, your insurance rates may go up. Your insurer can also re-evaluate your rate if you get a moving violation, but you can also look for other insurance options. Shopping around after you get a ticket may help you find lower rates than your current provider offers.

Cheapest Car Insurance Companies in Colorado for Drivers With Bad Credit

In Colorado, many insurance companies use credit scores as one of many factors to inform car insurance rates. In Colorado, the average credit score of 718 is above the national average of 703, according to Experian. If you have poor credit, you may have to compare rates from multiple insurers to find the best rates in Colorado.

Average Car Insurance Rates for Drivers With Bad Credit

While it can take time to improve your credit score, doing so could help lower your car insurance premiums and improve other areas of your financial life in the long run.

Cheapest Car Insurance Companies in Colorado for Seniors

Many seniors find that their car insurance rates increase as they age. While some insurance companies may raise rates for older drivers, there are discounts and options available for older drivers. If you drive infrequently, have taken a driver safety class, or have a vehicle with enhanced safety features, you may qualify for additional discounts.

Average Car Insurance Rates for Seniors

Colorado state law requires drivers 61 and older to renew driver's licenses every five years and requires vision tests for drivers ages 66 and older. The state accepts written reports about potentially unsafe drivers from law enforcement, courts, physicians and close relatives.

The state mandates that Colorado auto insurance policies be discounted for residents of 55 and older; insurance discount ranges from 10% to 15%, provided the drivers take a DMV-approved driving course.

Cheapest Car Insurance for Students in Colorado

In Colorado, crash rates for teen drivers 16 to 19 have been as much as four times higher than those of older drivers, according to the Colorado Department of Transportation (CDOT). If you have a teen driver, visit the Colorado Teen Driving page and the Colorado Teen Driving Alliance to learn more about keeping your teen driver safe. It's usually your best bet to add your teen or college student to an existing auto policy, and check into whether your insurance company offers good student discounts. Always notify the insurance company if your car will be used in another state for more than 30 days.

The following table illustrates an estimation of what parents in Colorado can expect to pay for their teen or college-aged student drivers.

Average Car Insurance Rates for Students

Insurance Rate Information for Military Drivers and Veterans

With more than 34,000 active-duty military personnel living in the state, Colorado has more than 10 times those on active duty in neighboring Wyoming. Military men and women and veterans in Colorado can take advantage of discounts available to them on auto insurance, either from specialty carriers or major insurance companies. Call around or research online for the best deals.

Military personnel from other states must still insure their vehicles while operating in Colorado, although the state grants exemptions for ownership tax. To get the exemption, complete a Nonresidents and Military Service Exemption from Specific Ownership Tax Affidavit (Form DR 2667) and deliver it to the local title and registration office.

Average Rates for Colorado service members

male
25 years$1,303
50 years$1,020
female
25 years$1,244
50 years$1,041

Car Insurance in Colorado: What You Need to Know

Colorado requires all drivers to insure their cars before registering or driving them.

Proof of Insurance in Colorado

You must prove that you carry at least the minimum required Colorado auto insurance in the form of an insurance card or a picture on a cell phone. Colorado will also accept as proof:

  • A copy of your car insurance policy
  • A letter from your insurance company, if it shows the company letterhead
  • A computer printout from an insurer
  • A fax of proof of insurance
  • Email from your car insurer

You'll need to show proof of auto insurance in Colorado:

  • When you register your vehicle (or renew the registration)
  • If a law enforcement officer asks for it
  • If you are in a crash

Minimum Liability Insurance Requirements in Colorado

Automobile owners in Colorado are required to carry liability insurance. This policy covers bodily injury to another person and damage to another's vehicle or property when the insured is at fault for an accident.

The following minimum coverages are required by the state, although you may purchase higher coverages:

  • $25,000 for bodily injury or death to one person in an accident
  • $50,000 for bodily injury or death to all persons in any one accident
  • $15,000 for property damage in any one accident

While those are the minimum requirements, many consumer advocates recommend that policyholders looking to protect their assets get at least $100,000/$300,000 in liability coverage per person and per accident, respectively. If you owe money on your car, you should also consider comprehensive and collision coverage to protect your own vehicle.

High-Risk Auto Insurance Program in Colorado

Colorado has a high-risk auto insurance program — the Colorado Motor Vehicle Insurance Plan (CO AIP) — created to provide automobile insurance to eligible drivers who could not get coverage otherwise. Check with your insurance company to see if you qualify for CO AIP.

Alternatives to Insurance in Colorado

Although there is an alternative to car insurance in Colorado, the state does not make it cheap. Drivers must pay $35,000 in cash or hold a surety bond in the same amount.

How Much Coverage Do You Need in Colorado?

Colorado's minimum liability coverage of 25/50 is well below experts' recommendations of 100/300. If you factor in the cost of surgery or an extended hospital stay, you'll see why: $50,000 is often not enough to cover costs, and at-fault drivers are responsible for coming up with anything beyond that amount.

Given the high number of drivers cruising the state without an insurance policy, you may also want to consider uninsured/underinsured motorist coverage, which insurance companies in the state must offer.

Lastly, collision and comprehensive coverage — both of which must be offered to consumers by law — can prove valuable. Such coverage ensures that your own vehicle gets repaired should you be at fault or if your car is damaged in a blizzard or other natural disaster. However, you may want to skip such policies for older vehicles that are not worth very much.

Car insurance companies use your location to calculate your rate.
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Insurance Rates

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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

About the Author


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Laura Longero is an award-winning journalist who has 15 years of experience in the industry across content creation, writing and editing, communications and storytelling. She spends her free time wrangling her kids, reading and pinching pennies.


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