Best Cheap Car Insurance Companies for High-Risk Drivers in Colorado

Auto insurance is usually expensive for drivers with a poor history. Having a violation like a DUI or even a certain speeding ticket automatically places you in the high-risk category, and insurers will charge you a higher rate.

High-risk drivers can still find a lower premium in Colorado by shopping around and comparing rates from different companies. From our findings, State Farm offers the best high-risk auto insurance in the state based on affordability and service quality and is also the most affordable, with an average annual cost of $1,203.

If you get convicted of a traffic violation, such as a DUI, speeding ticket or at-fault accident, insurers may consider you as a high-risk driver, depending on the severity of the violation. That means you will pay more for auto insurance than a low-risk driver. Teen and student drivers are also considered high-risk due to inexperience, as they are seen as highly likely to file claims.

On average, high-risk drivers in Colorado pay $1,731 per year. Meanwhile, drivers with a clean record pay around $1,305 per year, roughly 25% less.

From MoneyGeek’s research, State Farm offers the most affordable car insurance for high-risk drivers in Colorado. The insurer has an average annual premium of $1,203, which is the lowest in the state.

MoneyGeek’s review of State Farm’s coverage options, discounts and benefits can help you learn more about the insurer.

MoneyGeek’s pick for the best high-risk auto insurance provider in Colorado is State Farm, with a score of 97 out of 100. You can find additional details about the insurer by checking out MoneyGeek’s State Farm review.

Second to State Farm is GEICO, with a MoneyGeek score of 86 out of 100. MoneyGeek’s review of GEICO provides detailed information about the insurer.

Based on MoneyGeek’s evaluation of high-risk auto insurance providers in Colorado, the top insurer if you have a DUI is State Farm, with an average annual cost of $1,174. MoneyGeek’s review of State Farm can help you determine if it’s the best option for your profile.

USAA may also offer cheaper rates for eligible military members and veterans with a DUI.

Allstate offers the most affordable car insurance in Colorado for teen and student drivers. The cost is about $4,338 per year, significantly higher than what a middle-aged adult pays.

More details about the insurer are available in our Allstate auto insurance review.

MoneyGeek discovered that GEICO, the second-best overall high-risk auto insurance company in Colorado, offers the most affordable coverage for drivers with bad credit. GEICO customers pay around $1,286 per year, a rate that’s roughly 36% higher than what drivers with good credit scores pay for the same coverage.

You can analyze GEICO’s pros and cons using MoneyGeek’s review of the insurer.

High-risk auto insurance rates vary across drivers depending on their driving record and profile. If you possess any factor that makes you a high-risk driver, you will pay a higher rate than a low-risk driver.

On average, Colorado drivers with a clean history pay approximately $1,305 per year for auto insurance. Meanwhile, high-risk drivers pay around 25% more at roughly $1,731 annually.

MoneyGeek’s Colorado car insurance calculator ensures that high-risk drivers in the state can easily get a personalized quote estimate based on their coverage needs and profile by providing their age, driving history and other attributes to get the estimate.

Colorado’s auto insurance calculator also allows you to identify the most influential factors on your premium.

Insurance providers have the right to accept or reject your policy application. Aside from increasing your policy costs if you are a high-risk driver, the insurer reserves the right to deny you a policy altogether since insurance is a voluntary market. Should this happen, you may consider getting coverage from the auto insurance residual market.

Auto insurance residual market plans are sold via the Automobile Insurance Plan Service Office (AIPSO). These are exclusive for high-risk drivers unable to purchase a standard policy due to a bad record.

AIPSO’s state auto insurance database comprises different plans for different states. The Colorado Motor Vehicle Insurance Plan offers insurance coverage to drivers with eligible risks who cannot obtain standard coverage from the voluntary market.

Additionally, several states, including Colorado, form part of the Western Association of Automobile Insurance Plans (WAAIP), responsible for processing auto insurance requests from drivers facing challenges with purchasing insurance from private providers.

Getting the best cheap car insurance for high-risk drivers in Colorado can be an uphill task. MoneyGeek provides additional information through the following frequently asked questions to help you.

MoneyGeek calculated average rates using full coverage car insurance policies with 100/300/100 liability insurance and comprehensive and collision coverage with a $1,000 deductible. Minimum coverage car insurance policy rates were calculated based on each state’s minimum car insurance requirement.

To calculate rates for high-risk drivers, MoneyGeek averaged the premiums insurance companies charge for three of the most common driving violations: speeding, at-fault accident and DUI.

To determine the best car insurance company for high-risk drivers, MoneyGeek scored companies based on affordability, customer satisfaction and complaints — obtained from J.D. Power surveys and NAIC complaint scores — and financial strength ratings as calculated by AM Best. Affordability received the greatest weighting in our calculations.