Cheapest car insurance in Colorado

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GEICO provides the cheapest car insurance in Colorado at $1,445 a year. Your rates may vary, but the average premium is $195 per month in Colorado, according to Insure.com’s rate analysis.

Car insurance requirements vary by state, and in Colorado, drivers must carry at least the minimum liability coverage: $25,000 for bodily injury protection per person, $50,000 of bodily injury coverage per accident, and $15,000 for property damage per accident.

However, many drivers choose to purchase full coverage car insurance, which provides additional protection in the event of an accident.

Below, we’ve highlighted the most affordable insurance company in each category.

Cheapest overall: GEICO

$1,445/year

National avg. rate

Cheapest for at-fault accident: State Farm

$2,223/year

Avg. rate after an at-fault accident

Cheapest for speeding ticket: State Farm

$2,081/year

Avg. rate after speeding ticket

Cheap car insurance companies in Colorado

GEICO offers the cheapest car insurance in Colorado, with an average price of $1,445 per year. It’s 38% less expensive than the average car insurance cost in Colorado. The rates will vary based on factors such as your driving history, age, ZIP code, and the make and model of your car.

When shopping for auto insurance, compare rates from multiple companies to make sure you’re getting the best deal.

Below are the annual rates for car insurance from the cheapest car insurance companies.

*Note: USAA only offers coverage to military members, veterans and their families.

How we choose the cheapest car insurance companies in Colorado

170+

Carriers reviewed

53M+

Quotes analysed

34K+

ZIP codes examined

Cheapest ZIP codes for car insurance in Colorado

The cheapest ZIP code for car insurance in Colorado is 81505, with an average annual cost of $1,856. Find below the most affordable ZIP codes for auto insurance rates in Colorado.

Auto insurance premiums vary significantly from city to city, so drivers need to be sure they’re getting the best deal. Insure.com has done the research for you. Get more information on auto insurance rates by city below.

Cheapest car insurance in Colorado by age

In Colorado, young drivers often face higher insurance premiums than adults due to their higher likelihood of being involved in accidents and filing claims. According to an analysis by Insure.com, a 16-year-old driver pays $5,192 more for insurance than a 40-year-old driver.

Below are the cheapest auto insurance rates for Colorado drivers of different ages.

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Cheapest car insurance in Colorado by driver history

Your driving history plays a key role in determining your car insurance rates. If you cause an accident or are convicted of a driving offense, your premiums are likely to rise. However, a clean driving record indicates that you are a low-risk driver, which can result in lower insurance costs.

Cheapest car insurance after a speeding ticket in Colorado

Below is a list of the top three companies that provide affordable car insurance for drivers with a speeding ticket.

• State Farm: $2,081 per year
• GEICO: $2,467 per year
• Kemper: $2,530 per year

A single speeding ticket in Colorado can cause your insurance rates to go up by 43%, or $1,001, according to Insure.com’s analysis.

Dealing with a speeding ticket can be a hassle, as it involves paying a fine and facing increased insurance rates. However, there are some insurers who offer affordable premiums to drivers with a speeding ticket on their record.

*Note: USAA only offers coverage to military members, veterans and their families.

Cheapest car insurance after an accident in Colorado

Below are the top three insurance companies that provide affordable car insurance rates after an accident.

• State Farm: $2,223 per year
• GEICO: $2,528 per year
• Kemper: $2,579 per year

State Farm has the cheapest auto insurance rates for Colorado drivers after an at-fault accident at $2,223 a year.

If you’re responsible for an accident, expect your car insurance rates to increase. However, you can still shop around to find affordable car insurance rates.

Below, you’ll find a list of companies that offer affordable car insurance for drivers with an accident on their record.

*Note: USAA only offers coverage to military members, veterans and their families.

Cheapest car insurance after a DUI conviction in Colorado

Below is a list of the top three companies offering affordable car insurance following a DUI conviction.

• State Farm: $2,081 per year
• GEICO: $2,835 per year
• Progressive: $3,439 per year

If you’ve recently been convicted of a DUI, you might be concerned about how it will impact your car insurance rates. Most insurance companies will consider you a high-risk driver and increase your premiums. But some insurers offer relatively affordable rates.

The table below outlines the insurance companies that offer the most affordable car insurance rates following a DUI conviction.

*Note: USAA only offers coverage to military members, veterans and their families.

Average car insurance cost in Colorado

While full coverage insurance is more expensive than minimum liability insurance, many drivers find the extra cost worth it. In Colorado, the average cost of full coverage car insurance is $442 more than the national average car insurance cost.

While multiple full coverage limits are available, Insure.com editors recommend getting a policy with 100/300/100 coverage limits for adequate protection.

What is full coverage car insurance in Colorado?

Full coverage car insurance includes bodily injury liability, property damage liability, as well as comprehensive and collision coverage. Collision insurance protects your vehicle if it’s damaged or destroyed in an accident, while comprehensive insurance covers damage caused by non-collision events like weather or theft.

If you lease or finance a car in Colorado, your lender may require you to buy collision and comprehensive insurance in addition to the state-required liability coverage.

Final thoughts

When it comes to car insurance, everyone is looking for ways to save on premiums. However, cutting back on coverage to save a little money now could result in much higher costs later.

Before purchasing an auto insurance policy, consider your specific needs to ensure you purchase adequate insurance coverage. Since car insurance rates differ, it’s important to compare quotes from various companies to find the most affordable coverage in Colorado.

Methodology

Insure.com gathered data from Quadrant Information Services to get car insurance rates in Colorado. The rates are based on a sample profile of a 40-year-old male and female driving a Honda Accord LX with a good insurance score and no violation on record for a full coverage insurance policy with limits 100/300/100 and $500 comprehensive and collision deductibles.

We analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes nationwide.

To determine car insurance rates for high-risk drivers with a history of traffic violations, we used a sample profile of a 40-year-old male and female driver who own a Honda Accord LX.

We also used sample profiles of drivers from different age groups: Teen drivers (Age 16-19), young drivers (Age 20-24), adult drivers (Age 25-60) and senior drivers (Age 65-75)

We determined the premiums for a high-risk driver with the following incidents applied

1. 1 At-fault property damage accident over $2K
2. 1 At-fault property damage accident under $2K
3. At-fault bodily injury accident
4. Poor credit
5. DUI/DWI first offense
6. Speeding 30+ over limit
7. Speeding ticket 1-10 MPH over limit
8. Speeding ticket 11-29 MPH over the limit

These are sample rates, and your exact rates may vary.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.