Low-cost car insurance in Colorado

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Drivers in Colorado can find the cheapest average premium with GEICO, at $1,445 per year. By comparison, the statewide average monthly cost is $195. Keep in mind that rates vary for each driver depending on factors like driving record, ZIP code, and vehicle type.

Since auto insurance laws differ by state, Colorado requires drivers to carry at least $25,000 in bodily injury coverage per person, $50,000 in bodily injury per accident, and $15,000 for property damage liability.

For broader protection, full coverage may be a smart option. It combines liability, collision, and comprehensive insurance, giving you coverage not only for other drivers but also for your own vehicle if it’s damaged in a crash, stolen, or affected by severe weather.

Here’s how different insurers stack up for drivers in Colorado, depending on your situation.

Low-cost car insurance businesses in Colorado

When comparing insurers in Colorado, GEICO leads the pack with an annual average of $1,445. That’s 38% less than the statewide average. Individual premiums vary depending on your driving record, vehicle type, age, and ZIP code.

To make sure you’re getting the best price, it’s always smart to check quotes from multiple carriers.

Here are the annual averages from the most affordable insurance companies in Colorado.

How we choose low-cost car insurance companies in Colorado

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Carriers reviewed

53M+

Quotes analysed

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ZIP codes examined

ZIP codes with the cheapest car insurance in Colorado

Drivers in the 81505 ZIP code pay the lowest average annual premium in Colorado, at $1,856. See which other areas of the state offer more affordable rates below.

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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.

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Low-cost car insurance in Colorado by age

Teen drivers in Colorado pay higher insurance rates than adult drivers because they are more likely to get into accidents and file claims. For example, our data shows that a 16-year-old driver pays $5,192 more than a 40-year-old driver in Colorado.

The table below shows low-cost car insurance rates for drivers of different ages.

Low-cost car insurance in Colorado by driver history

Insurers weigh your driving record heavily when setting premiums. You can expect your rates to rise if you’re ticketed or at fault in an accident. On the other hand, drivers with clean records are considered lower risk and usually qualify for cheaper coverage.

Low-cost car insurance after a speeding ticket in Colorado

One speeding ticket in Colorado can cause your insurance rates to jump by 43%, or roughly $1,001 per year. Combined with the cost of the fine, a violation can get expensive fast. The table below highlights insurers with lower-priced options even after a ticket.

Low-cost car insurance after an accident in Colorado

After an at-fault accident, premiums increase significantly, but some insurers still offer cheaper options. State Farm has the lowest average rate at $2,223 per year.

If you’ve been in an accident, shopping around can help reduce costs. The table below highlights companies in Colorado with the most affordable rates for drivers with an accident on their record.

Low-cost car insurance after a DUI in Colorado

Being labeled a high-risk driver after a DUI usually means paying much more for car insurance. However, some insurers are less expensive than others. The table below shows which companies in Colorado offer the most affordable rates after a DUI conviction.

Average cost of car insurance Colorado

Full coverage insurance costs more than minimum liability insurance, but the extra cost is worth it for most drivers. That’s because minimum liability only pays for injuries or damage you cause to others, leaving you to cover repairs or replacement of your own car out of pocket. Full coverage, on the other hand, includes collision and comprehensive insurance, so your vehicle is protected in situations like accidents, theft, storms, or vandalism.

The average cost of full coverage car insurance in Colorado is $442 more than the national average car insurance rates in the U.S.

We recommend that you carry at least coverage limits of 100/300/100 – that’s $100,000 in bodily injury coverage per person, $300,000 per accident, and $100,000 in property damage coverage. These limits provide a better safety net if you’re involved in a serious accident where costs could quickly exceed minimum requirements.

What is full coverage car insurance?

Full coverage car insurance includes bodily injury liability and property damage liability coverage, as well as comprehensive and collision coverage. Collision insurance covers your vehicle if it’s damaged or destroyed in an accident, while comprehensive insurance provides protection against damage that is caused by something other than collisions, such as hail or theft.

If you lease or finance your car in Colorado, your lender may ask you to purchase collision and comprehensive insurance beyond the state-mandated liability coverage.

The bottom line on saving and staying protected

When it comes to car insurance, everyone is looking for ways to save. However, skimping on coverage to save a few dollars now could end up costing you more down the road.

Ensure you’re adequately protected and consider your specific needs before buying an auto insurance policy. Car insurance rates vary, so compare quotes from at least three different companies to find low-cost 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 violations 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.