Your driver profile and needs will determine the most affordable insurer. In Denver, American National is the cheapest for full and minimum coverage, military-affiliated drivers, young adults, seniors and those with a moving violation. GEICO offers the lowest rate for drivers with poor credit or those with a sports car.
MoneyGeek also rated the best car insurance companies in Denver that provide the ideal blend of affordability and service.
Cheapest Car Insurance in Denver, CO
Cheapest Minimum Coverage Car Insurance in Denver
The average cheapest car insurance companies in Denver for minimum coverage are:
- American National: $250 per year
- Colorado Farm Bureau: $333 per year
Farmers is the most expensive provider for minimum coverage in Denver, of the companies MoneyGeek surveyed, with a policy priced at around $777 per year.
American National also offers the cheapest auto insurance in Colorado, with an annual premium for minimum coverage averaging $230 per year. That is around $20 less than the cost in Denver with this company, displaying how location can affect your rate, even with the cheapest company.
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Minimum liability coverage in Colorado has bodily injury and property damage at these amounts:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $15,000 property damage liability per accident
Your liability insurance pays for injuries and damages if you’re at fault for an accident, but only up to policy limits. If you carry a policy that has bodily injury liability limits of $25,000 per person and $50,000 per accident, your insurer will pay up to $25,000 for medical bills per injured person but not over $50,000 per accident. So, if one person sustains injuries costing $35,000, you only have coverage for $25,000 per person and are responsible for the remaining $10,000.
Cheapest Full Coverage Car Insurance in Denver
The average cheapest car insurance companies for a full coverage policy in Denver are:
- American National: $606 per year
- GEICO: $787 per year
Farmers has the least affordable rate for full coverage in Denver at around $1,519 per year.
The cheapest full coverage auto insurance in Colorado is also from American National at roughly $586 per year. That is a $20 difference, making Denver a more expensive city to purchase full coverage from American National than its statewide average.
Full coverage insurance provides more financial protection by adding comprehensive and collision insurance to your policy.
- Collision insurance: This helps cover the costs to repair or replace your vehicle if it sustains damage in an at-fault accident, such as a collision with another vehicle or an object, such as a tree, fence or light pole. Collision also covers damage from rollover accidents.
- Comprehensive insurance: It covers expenses related to the repair or replacement of your vehicle if it sustains damage in a non-accident incident like theft, vandalism, fire or a weather-related event.
You might not want a full coverage policy if you have an older vehicle since you’ll be paying a higher premium for a car with a low value. Look up the value of your car and decide if the extra cost of full coverage makes sense per year.
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Cheaper insurers could pocket you hundreds of dollars per year.
Cheapest Car Insurance in Denver After a Driving Offense
On average, the cheapest car insurance companies for a full coverage policy after a driving violation in Denver are:
- Speeding ticket: American National ($710 per year)
- At-fault accident: American National ($823 per year)
- DUI: American National ($918 per year)
Acuity charges the highest annual rate in Denver following a speeding ticket, at-fault accident or DUI, averaging $3,171 for full coverage insurance.
Expect your premium to become more expensive following a moving violation, with even the cheapest insurer charging significantly more than what a driver with a clean record pays.
Auto insurance generally increases after a violation, more so with its severity. To give you an idea of how much rates could differ, we looked at the average full coverage premium of a Denver driver with a speeding ticket and one with a DUI. The DUI caused an increase of around $764 a year, whereas the speeding ticket increased the premium by only about $358 a year.
Even after a speeding ticket, DUI or at-fault accident, you can find cheap car insurance with a poor driving record.
To avoid a premium increase after your first at-fault accident, add accident forgiveness coverage to your auto insurance policy. It stops your premium from going up if, prior to the accident, you had a clean motor vehicle record for a period of time. Many companies offer accident forgiveness, and some, such as GEICO and Progressive, award it for free. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute
Cheapest Car Insurance in Denver for Teens and Their Families
The average cheapest car insurance companies for teens on a full coverage family policy in Denver are:
- GEICO: $2,159 per year for female teens; GEICO: $2,277 per year for male teens
- Allstate: $2,572 per year for female teens; Allstate: $2,572 per year for male teens
The most expensive full coverage provider in Denver for teens on a family policy is Farmers, with an annual rate of around $4,870 for females and $5,172 for males.
Companies may consider male teens as riskier to insure because of their tendency to put themselves in situations that could lead to serious injury and accidents. That’s why they usually pay more for auto insurance. In Denver, GEICO charges male teens more than females by roughly $118 a year. Any sex-specific rate differences typically diminish in early adulthood.
If you have a teen driver in the family, buying them a policy usually ends up being costlier than simply adding them to your family policy. And it is illegal in most cases for a teen under 18 to purchase auto insurance without the consent of a parent or guardian.
For example, a family policy with a 16-year-old male in Denver costs around $2,939 a year for full coverage compared to roughly $6,862 if he buys a separate policy. That adds up to an annual savings of around $3,923.
We recommend getting personalized quotes from multiple companies to find the cheapest auto insurance for teens.
Cheapest Car Insurance in Denver for Military Drivers
The average cheapest car insurance companies for active military or veteran families in Denver are:
- American National: $606 per year
- GEICO: $787 per year
The rates above are for a full coverage policy. For minimum coverage, American National and USAA are the most affordable companies at an average annual rate of $250 and $312, respectively.
How to Compare Cheap Denver Car Insurance Quotes Online
You can get auto insurance quotes online in Denver, but it could take 15 minutes or more to complete the process because of the required personal information, and you’ll have to repeat it for each insurer you’re interested in.
MoneyGeek’s car insurance calculator gives a quick ballpark figure of your premium from multiple companies. Our system combs through thousands of quotes from multiple insurers to give you an estimate based on your age, vehicle type, preferred coverage level and driving record.
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Cheapest Car Insurance in Denver for Young Adults
The average cheapest car insurance companies for young adults who are looking to purchase a full coverage policy in Denver are:
- American National: $756 per year
- GEICO: $896 per year
Acuity is the most expensive company in Denver for a full coverage policy as a young adult, costing around $1,988 annually.
Young adults pay lower car insurance rates than teens but often more than older drivers. In Denver, a 25-year-old pays around $327 more for full coverage car insurance than a 40-year-old.
Cheapest Car Insurance in Denver for Seniors
The average cheapest car insurance companies for seniors in Denver with full coverage are:
- American National: $607 per year
- GEICO: $806 per year
Farmers Union is the most expensive for seniors in Denver, with a full coverage policy costing roughly $1,568 per year.
MoneyGeek found that car insurance rates for seniors in Denver are a bit cheaper than for middle-aged drivers, which isn't common since seniors have higher accident frequency rates. A 65-year-old pays only about $1,128 per year, while a 40-year-old driver spends roughly $1,142 for full coverage.
Cheapest Car Insurance in Denver for Poor Credit
Drivers with poor credit can find the average cheapest full coverage car insurance in Denver from the following companies:
- GEICO: $1,155 per year
- Nationwide: $1,624 per year
Auto-Owners charges the highest average premium for full coverage in Denver at $3,299 per year.
Denver drivers with poor credit or a low credit-based insurance score pay around $905 more per year for car insurance than those with good credit. That’s approximately a 79% increase in the annual rate. MoneyGeek discovered there are ways to find cheap auto insurance with bad credit.
Drivers with poor credit or a low credit-based insurance score may be viewed as more likely to file claims, and this could lead insurance providers to charge them a higher premium. But there are several ways to lower your auto insurance costs, such as by taking advantage of discounts and bundling policies. You should also make sure to shop around for quotes and explore how to increase your credit score.
Cheapest Car Insurance in Denver for Sports Cars
The companies that offer the average cheapest car insurance for sports car drivers in Denver are:
- GEICO: $924 per year
- American Family: $1,134 per year
Nationwide charges the highest rate for full coverage in Denver with a sports car, averaging $1,390 per year.
The type of car you drive can impact your rate. In Denver, drivers with a Ford Mustang pay an average of $1,245 per year for full coverage, while those with a standard Toyota Camry only spend around $1,142. That is a roughly 9% increase in the premium — or a difference of around $102 a year.
MoneyGeek gathered auto insurance quotes for a Ford Mustang to use as its example for a sports car in Denver. Depending on what type of sports car you have, the rates may be different.
Generally, sport, luxury and electric vehicles are more expensive to insure. That holds true in Denver.
Average Cost of Car Insurance in Denver
The average cost of auto insurance in Denver is $1,142 per year. That's for a full coverage policy with liability limits of $100,000 for bodily injury per person, $300,000 for bodily injury per accident and $100,000 for property damage per accident.
We found that full coverage car insurance in Denver is more expensive by about $140 per year than the average cost of car insurance in Colorado. But it’s cheaper by approximately $123 than the national average of $1,265 per year. Aside from location, there are a host of other factors that can influence your actual rate.
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