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Geico provides the cheapest car insurance in Colorado at about $1,212 a year. Your specific rates may vary, but the average car insurance premium in Colorado is $162 per month, according to Insure.com’s rate analysis.

Car insurance is a legal requirement in most states, and Colorado is no exception. Colorado drivers are required to carry at least the minimum amount of liability coverage—$15,000 of personal property coverage per person, $25,000 for bodily injury per person and $50,000 for bodily injury per accident.

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

Cheapest car insurance in Colorado by company

Geico offers the cheapest car insurance in Colorado an average of $1,212 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 cheapest car insurance companies.

CompanyAverage annual rates
Geico$1,212
USAA$1,300
Nationwide$1,304
State Farm$1,565
Kemper Insurance$1,578
Progressive$1,704
Allstate$2,120
Auto-Owners$2,357
Farmers Insurance$2,731
American Family$2,736

Cheapest ZIP codes for car insurance in Colorado

81507 ZIP code in Colorado has the cheapest auto insurance cost at an average price of $1,385 annually. Know the cheapest ZIP codes for car insurance in Colorado below.

ZIP codeAverage annual rates
81507$1,385
81506$1,388
81524$1,396
81525$1,396
81504$1,402
81503$1,411
81505$1,412
81521$1,414
81523$1,431
81527$1,443

Cheapest car insurance in Colorado by age

Young drivers in Colorado tend to pay higher insurance rates than adult drivers because they are more likely to get into accidents and file claims on their insurance policy. A 16-year-old driver pays 342% more than a 40-year-old mature driver in Colorado, based on Insure.com’s analysis.

The table below shows cheapest car insurance rates for drivers of different ages:

Age groupFull coverage annual premiums
Teen drivers (age 16-19)$6,775
Young drivers (age 20-24)$3,168
Adult drivers (age 25-64)$1,966
Senior drivers (age 65+)$1,889

Read our Guide to car insurance for teens for more information

Cheapest car insurance in Colorado by driver history

Your driving history is one of the main factors insurers look at when considering insurance rates. If you are responsible for a car accident or get convicted of a driving infraction, your auto insurance premiums will likely go up. However, if you have a clean driving record, insurance companies see you as a low-risk driver and you are likely to get cheap car insurance.

Cheapest car insurance after a speeding ticket in Colorado

A single speeding ticket can increase your rates by 21% or $455 in Colorado, based on Insure.com data.

Getting a speeding ticket is never any fun. Not only will you have to pay a fine, but your insurance rates may go up.

But if you’re looking for cheapest car insurance costs in Colorado, below are some insurers that offer cheap car insurance after a speeding ticket.

CompanyAverage annual premiumNew rate after incident% Increase$ Increase
USAA$1,292$1,60224%$311
Nationwide$1,411$1,69020%$279
State Farm$1,633$1,7537%$120
Geico$1,285$2,04559%$761
Allstate$2,219$2,44310%$224
Progressive$1,915$2,44728%$532
Auto-Owners$2,199$2,47613%$277
Kemper$1,893$2,51333%$621
American Family$3,387$3,78112%$394
Farmers$3,073$3,81624%$743

Cheapest car insurance after an accident in Colorado

State Farm offers the cheapest car insurance rates to drivers after an at-fault accident, at about $1873 a year. 

No one plans on getting into a car accident, but unfortunately, they happen. If you are in an accident and are at fault, you will probably see your car insurance premiums increase. However, this does not mean you can’t shop around to find the best rates.

Below, you’ll see which companies have cheap car insurance for drivers with one accident on their record.

CompanyAverage annual premiumNew rate after incident% Increase$ Increase
State Farm$1,633$1,87315%$240
USAA$1,292$1,87745%$585
Nationwide$1,411$2,13651%$725
Geico$1,285$2,23874%$953
Kemper$1,893$2,60638%$713
Progressive$1,915$2,91252%$997
Auto-Owners$2,199$3,15844%$960
Allstate$2,219$3,34151%$1,122
American Family$3,387$3,91516%$528
Farmers$3,073$4,66952%$1,596

Cheapest car insurance after a DUI conviction in Colorado

If you’ve recently been convicted of a DUI, you may wonder how it will affect your car insurance rates. Most insurers will view you as a high-risk driver and will charge you higher rates.

The table below shows the insurance companies offering cheap car insurance rates to drivers after a DUI conviction.

CompanyAverage annual premiumNew rate after incident% Increase$ Increase
State Farm$1,633$1,7537%$120
Progressive$1,915$2,23117%$317
Geico$1,285$2,655107%$1,370
USAA$1,292$2,682108%$1,390
Nationwide$1,411$2,71793%$1,306
Allstate$2,219$2,90531%$687
Auto-Owners$2,199$3,73770%$1,538
American Family$3,387$3,78112%$394
Kemper$1,893$4,210122%$2,317
Farmers$3,073$5,94794%$2,874

Average car insurance cost in Colorado

Full coverage insurance costs more than minimum liability insurance, but the extra cost is worth it for most drivers. The average cost of full coverage car insurance in Colorado is 15% more than the national average car insurance rates in the U.S.

There are different full coverage limits that a driver can purchase. However, Insure.com editors recommend that every driver should carry 100/300/100 coverage limits.

What is full coverage car insurance in Colorado?

Full coverage car insurance includes bodily injury liability and property damage liability coverage, as well as comprehensive and collision coverage, according to the Insurance Information Institute (III). 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 weather 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. Every state except New Hampshire and Virginia requires drivers to get liability coverage, while comprehensive and collision coverage are optional. However, in Virginia, you have to pay an uninsured motorist fee of $500.

Final thoughts

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

Make sure you’re adequately protected and take into account your specific needs before buying an auto insurance policy. Car insurance rates vary, make sure to compare insurance rates from various car insurance companies to get the cheapest car insurance coverage in Colorado

Source:

Methodology

Insure.com gathered the auto insurance rates with the help of Quadrant Information Institute. We collected full coverage car insurance rates from major insurance companies for multiple ZIP codes across Colorado.

The full coverage auto insurance rates are based on a sample driver profile of a 40-year-old man with a clean driving record and good credit score.