Car Insurance in New York vs. Colorado: Costs, Laws and Resources

Car insurance costs and requirements vary between New York and Colorado, with different laws and providers. But, the cheapest auto insurance company in New York and Colorado is GEICO. Annually, drivers pay an average of $1,092 in New York or $373 in Colorado.

Last Updated: 6/17/2022
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For drivers who intend to move between New York and Colorado, car insurance costs may vary significantly due to minimum car insurance requirements. For example, Colorado has a minimum coverage requirement of 25/50/15, whereas New York has 25/50/10 plus 25/50 uninsured/underinsured motorist coverage, $50,000 personal injury protection and 50/100 liability for death coverage.

To help you find the most affordable car insurance in New York vs. Colorado, MoneyGeek determined the average costs and lowest-priced companies and evaluated the differences in car insurance laws and requirements within these states.

Car Insurance Laws in New York vs. Colorado

Minimum coverage car insurance requirements and limits vary greatly between New York and Colorado. Based on Colorado car insurance laws, your policy must have 25/50/15 limits. However, the minimum car insurance requirements in New York by law include 25/50/10 plus 25/50 uninsured/underinsured motorist coverage, $50,000 personal injury protection and 50/100 liability for death. That’s a big reason why New York has higher car insurance costs than Colorado.

On average, car insurance in New York costs $2,278 per year, while Colorado is $811 per year.

MINIMUM CAR INSURANCE REQUIREMENTS IN NEW YORK AND COLORADO

New York Requirements

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $25,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
  • $50,000 personal injury protection per person
  • $50,000 liability for death per person
  • $100,000 liability for death per accident

Colorado Requirements

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
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How Are Car Insurance Laws Enforced in New York and Colorado?

New York is a no-fault state, while Colorado is a tort or at-fault state. That means, in New York, you may pay for damages to your car and cover any expenses or losses you incur, regardless of who is at fault. On the contrary, if you have a car insurance policy in Colorado, you pay the cost of vehicle damage and medical bills to the other party if you cause the accident.

Cheapest Car Insurance Companies in New York vs. Colorado

Based on MoneyGeek’s research, the average cheapest minimum coverage auto insurance in New York vs. Colorado is with the following companies:

  • Cheapest in New York: GEICO ($1,092 per year)
  • Cheapest in Colorado: GEICO ($373 per year)

USAA provides the most affordable minimum coverage car insurance policy in New York and Colorado, although it’s excluded from our rankings because its policies are limited to military members and their families.

While GEICO is the cheapest in New York and Colorado for car insurance, the cost of the policy differs — you could pay around $719 more in New York than in Colorado for minimum coverage.

Cheapest Car Insurance Companies in New York

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Cheapest Car Insurance Companies in Colorado

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THE CHEAPEST COMPANY FOR YOU MAY DIFFER

GEICO provides the cheapest auto insurance in New York (around $1,092/year) and Colorado (roughly $373/year). The average costs used in MoneyGeek’s analysis are for a minimum coverage policy. Your rate may vary significantly from these averages depending on several factors, like credit score, driving history and age.

You can use MoneyGeek’s guides to determine the cheapest insurers and compare average rates between the two states:

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Average Cost of Car Insurance in New York vs. Colorado

Auto insurance rates differ depending on the coverage limits in New York vs. Colorado.

New York drivers pay an average of $2,278 per year for a minimum coverage car insurance policy and $3,433 yearly for a full coverage policy. On the other hand, drivers pay an average of $811 a year for minimum coverage and $1,450 annually for a full coverage policy in Colorado.

Rates in New York are considerably more since the state has higher car insurance requirements. New York is also a no-fault state, affecting rates.

Average Cost of Car Insurance in New York vs. Colorado

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  • Driver
    New York Annual Premium
    Colorado Annual Premium
  • Minimum Coverage
    $2,278
    $811
  • Full Coverage
    $3,433
    $1,450
  • Adding a Young Driver
    $9,285
    $3,819
  • Drivers With a Violation
    $4,287
    $1,701
  • Drivers With Poor Credit
    $10,640
    $2,515

Why Are Car Insurance Rates More Expensive in New York vs. Colorado?

Car insurance policyholders pay higher premiums in New York than in Colorado, but narrowing down why to one reason is not possible. But, the different coverage limits do affect policy costs. Another factor contributing to the high rates is that New York is a no-fault state while Colorado is a tort state.

Car Insurance Costs by City in New York vs. Colorado

Your location does determine how much you pay for auto insurance in New York or Colorado.

From MoneyGeek’s research, on average, the cheapest city for auto insurance in New York is Rochester ($715 per year), and the most expensive is New York City ($2,732 per year). In Colorado, Fort Collins has the average cheapest car insurance ($628 per year) and Aurora the most expensive ($858 per year).

Car insurance requirements are standard across all cities in a state. However, rates may vary due to factors such as the rate of vehicle theft and population density.

Car Insurance Costs by City in New York

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Car Insurance Costs by City in Colorado

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Moving Between New York and Colorado? What To Know

If you move from New York to Colorado or vice versa, you need to make changes to your auto insurance policy and get a new license and vehicle registration. You can, however, retain your current insurance provider if the company offers coverage in the new state. But, your premium is going to change in New York vs. Colorado; it will be higher if you move to New York because of additional coverage and should be lower if you go to Colorado.

MoneyGeek’s resources can help you, with any driving record, find the best company and policy for your needs in New York and Colorado.

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    Use MoneyGeek’s car insurance calculators for New York and Colorado

    To estimate your costs in advance and understand how much you are likely to pay, use MoneyGeek’s car insurance calculator in New York or car insurance calculator in Colorado. It helps you estimate your premium by considering factors like credit score, age and driving history.

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    Learn about car insurance for high-risk drivers in New York and Colorado

    High-risk drivers pay a higher premium for car insurance, and some companies may deny them a policy. If you have severe violations on your record, you may need to file an SR-22 in Colorado as proof of insurance. However, this is not a requirement in New York.

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    Figure out your options for temporary car insurance in New York and Colorado

    If you are visiting either New York or Colorado for a short period, you may consider getting temporary car insurance over a permanent policy. It is a requirement in most states that you purchase a policy that spans at least six months. However, MoneyGeek outlines how to obtain temporary car insurance in New York and temporary car insurance in Colorado.

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    If you’re a low-income driver, see if New York or Colorado offer car insurance programs

    Both New York and Colorado do not have low-income programs for drivers to assist with car insurance costs. However, MoneyGeek’s resources can help low-income drivers in New York and low-income drivers in Colorado find ways to lower their car insurance premiums.

FAQs About New York and Colorado Car Insurance

Car insurance costs and requirements vary greatly between New York and Colorado. To help you compare rates and make informed decisions, MoneyGeek compiled answers to commonly asked questions about car insurance in New York vs. Colorado.

Methodology

To calculate average car insurance rates by company and across New York and Colorado, MoneyGeek collaborated with Quadrant Information Services to collect auto insurance quotes from both locations. We used a sample profile for a 40-year-old driver with a clean driving record and minimum coverage unless modified by criteria like coverage level, age, driving offenses and credit score. Learn more about how costs are calculated in our MoneyGeek car insurance methodology.

Minimum car insurance requirements by state were sourced from the Department of Motor Vehicles (DMV) of the respective state.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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