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Based on an analysis by Insure.com, the typical car insurance expense in Denver, Colorado is $2,337 annually. Furthermore, car insurance premiums in Denver are equals to compared to the state average in Colorado and $442 more than the national average.

Graph
Table
City average ratesState average ratesNational average cost
$2,337$2,337$1,895

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Denver, the average car insurance rates by age and gender, and the costs in Denver based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Denver. Keep reading to learn more.

Key Takeaways

  • The annual cost of car insurance in Denver, Colorado is $2,337.
  • Geico provides the most affordable car insurance in Denver at $1,399 annually.
  • Young adults in Denver can expect to pay approximately $3,732 annually for car insurance.

Cheap car insurance companies in Denver

Geico offers the cheapest car insurance in Denver, at an average of $1,399 per year with full coverage limits of 100/300/100.

The second cheapest company in Denver is Southern Farm Bureau, offering car insurance rates at $2,087 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Denver before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Denver, Colorado:

Affordable car insurance providers in Denver

Graph
Table
Company NameAverage annual costAverage monthly cost
Geico$1,399$117
Southern Farm Bureau$2,087$174
State Farm$2,142$178
Kemper$2,297$191
Auto Owners$2,744$229
Progressive$2,981$248
Allstate$3,029$252
Acuity Insurance$4,006$334
Farmers$4,021$335
USAA$1,584$132

Read about the best car insurance companies.

Average car insurance cost in Denver by coverage limits

In Denver, the average car insurance rates based on coverage types are as follows:

  • State minimum coverage: $563 per year (limits are 25/50/25)
  • Liability only coverage: $873 per year (limits are 50/100/50)
  • Full coverage: $2,337 per year (limits are 100/300/100)
  • Non-owners coverage: $310 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Denver

Based on an analysis by Insure.com, female drivers in Denver, Colorado pay an average annual car insurance premium of $2,295. In comparison, male drivers pay $2,376 annually, which is $81 more than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Denver

Car insurance rates in Denver, are highest for teens at $6,204 per year or $517 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $3,732 annually for their car insurance, which is $2,472 less than what teens pay for their insurance coverage.

In Denver, adult drivers pay an average of $2,438 per year for car insurance, while senior drivers pay $2,422 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rates by age groups in Denver

Graph
Table
Teens (16- to 19-year-olds)Young adults (20- to 24-year-olds)Adults (25- to 55-year-olds)Seniors (60- to 75-year-olds)
$6,204$3,732$2,438$2,422

Examining car insurance rate trends in Denver, Colorado, we observe a upward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced increase overall, with an increase of 5% or $116.

The table below shows the trend for last four years:

How car insurance rates are changing in Denver

Graph
Table
2016 rates2019 rates2022 rates2023 rates
$1,599$2,205$2,221$2,337

Conclusion

Car insurance rates in Denver are same as the average rates in Colorado. Drivers in Denver can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

  • $100,000 bodily injury per person
  • $300,000 bodily injury per accident
  • $100,000 property damage per accident
  • $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

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Prachi Singh
Contributing Researcher

 
  

Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.

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