Colorado drivers with good driving records will pay $2,016 annually for full coverage and $518 for minimum coverage. These rates are not the highest in the country but it is possible to lower them even further. If you make the right choices, you might pay less car insurance.
What is the cost of Colorado car insurance?
What is the cost of Colorado car insurance? It depends on many factors including:
- Age
- Sex
- Driving history
- State
- Localization
- Make and model of car
- Deductible
- Maximum coverage
- Get Discounts
- Marital status
- Credit score
Colorado’s car insurance rates are currently at $518/year for minimum coverage, and $2,016/year for full coverage. This is slightly more than the U.S. National average: $565 annually for minimum coverage, $1,674 annually to cover full.
Colorado car insurance rates by company
For a variety reasons, each company may charge a different amount. Here are the best companies Colorado drivers can choose from. You’ll notice that rates can vary dramatically from one company to another.
| Car insurance company | Minimum coverage: Average annual premium | For full coverage, the average annual premium |
|---|---|---|
| Acuity | $483 | $1,872 |
| Allstate | $635 | $1,711 |
| American Family | $699 | $1,909 |
| American National | $207 | $767 |
| Auto-Owners | $479 | $1,951 |
| California Casualty | $493 | $2,411 |
| Colorado Farm Bureau Insurance | $615 | $2,870 |
| Farmers | $488 | $1,883 |
| Geico | $283 | $1,106 |
| Grange | $299 | $2,010 |
| MetLife | $517 | $2,550 |
| Progressive | $761 | $3,024 |
| State Farm | $435 | $1,696 |
| USAA | $303 | $1,310 |
Colorado car insurance rates by city
The best Colorado car insurance company will determine the average car insurance rate in Colorado. Statistics show that cities with higher populations have higher claims frequency.
Below are the top 20 largest cities in Colorado ranked by their population. The average premium costs for each city are shown to the right. This percentage change is the difference between these averages for each city and the $2,017 average Colorado premium for full coverage.
| City | For full coverage, the average annual premium | Increase of % in the average annual premium |
|---|---|---|
| Denver | $2,232 | 11% |
| Colorado Springs | $2,178 | 8% |
| Aurora | $2,281 | 13% |
| Fort Collins | $1,773 | -12% |
| Lakewood | $2,130 | 6% |
| Pueblo | $2,323 | 15% |
| Thornton | $2,018 | 0% |
| Arvada | $1,968 | -2% |
| Boulder | $1,861 | -8% |
| Westminster | $1,941 | -4% |
| Greeley | $1,826 | -9% |
| Longmont | $1,839 | -9% |
| Centennial | $2,067 | 3% |
| Highlands Ranch | $1,957 | -3% |
| Loveland | $1,720 | -15% |
| Grand Junction | $1,643 | -19% |
| Broomfield | $1,881 | -7% |
| Parker | $2,014 | 0% |
| Littleton | $1,985 | -2% |
| Castle Rock | $1,970 | -2% |
Colorado cost of living and Colorado car insurance
It is important to consider your other expenses when searching for the best Colorado car insurance rates. This will allow you to calculate your total living costs. Below is a graph that shows Colorado’s average annual cost of living, which includes the average cost for car insurance. This graph can be used to determine your annual expenses and help you decide on the best insurance rates for your budget.
Colorado car insurance rates by age
Because of their inexperience behind the wheel, younger drivers are more likely than older drivers to be involved in an accident. The cost of their insurance goes down as they age and gain more experience.
| Age | Colorado’s average annual premium |
|---|---|
| Age 16 | $2,936 |
| Age 17 | $2,687 |
| Age 22 | $3,093 |
| Age 25 | $2,442 |
| Age 30 | $2,187 |
| Age 35 | $2,137 |
| Age 40 | $2,078 |
*16-year old and 17-year old calculated based on parent’s policy disclosure
Colorado auto insurance rates by driving record
Driving records can have a significant impact on the cost of Colorado car insurance. Below is a table that shows the percentage of an increase you can expect following a major crime.
| Accident while driving | Colorado’s average annual premium for full coverage | Increase of % in the average annual premium |
|---|---|---|
| Speeding ticket | $2,440 | 21% |
| Accident | $2,845 | 41% |
| DUI | $3,286 | 63% |
Colorado: How to Save on Car Insurance
You can lower your Colorado car insurance rate by using the strategies below.
- Compare providers: Each provider will charge a different amount due to its pricing algorithm. The impact of your credit score on your car insurance premiums will differ from one company to the next. It is worth your time to compare providers and find a better deal.
- Your deductible should be increased: While a high deductible may reduce your monthly payment, it will also decrease the amount that you will receive in case of an accident.
- Driving an older car is cheaper because it costs less for you to replace. You can keep your family and yourself safe by making sure your car has a high safety rating. This will help you save on your insurance.
- Discounts: Major providers often offer discounts that will lower your premium. It’s important to compare the savings offered by different providers.
- Credit score increases: A lower credit score is associated with higher claims frequency. Your insurance provider should lower your premium if you have a higher credit score.
Colorado insurance requirements
Colorado is a 25/50/15 state. This means you need to have enough insurance to cover:
- $25,000 per person to treat bodily injuries
- $50,000 for bodily injury
- $15,000 per accident in property damage
Even though this may seem like a large sum, Colorado drivers might want to purchase more coverage if possible. This is a good idea for many reasons. First, if your car is damaged by nature, you will have to pay out of pocket for repairs. It wouldn’t be necessary if you had comprehensive. You can also sue an uninsured driver who has no assets if they hit you. You would have to pay all of the medical bills and property damage.
Questions frequently asked
Is Colorado a no-fault state?
Colorado is not a state that accepts no-fault drivers. It is a tort state which means that the at-fault driver has to pay for any damage caused by their driving.
Colorado law requires uninsured motorist coverage
However, every insurance provider must offer at least this coverage.
Colorado drivers need to consider whether it is mandatory or not. According to the most recent study by Insurance Information Institute, the state has 13.3% uninsured motorist rates.
