Candace Baker, Car Insurance Writer
@candacebaker
Car insurance in Colorado costs $42 per month or $606 per year for minimum coverage, on average. The cheapest car insurance companies in Colorado are American National, Southern Farm Bureau, and Geico, and getting quotes from several companies can help you find the best deal.
The average cost of car insurance in Colorado is 10% lower than the national average auto insurance premium. There are several factors that affect how much you'll pay for car insurance in Colorado, including your driving record, age and location, the amount of coverage you purchase, and the insurance company you buy it from.
Average Cost of Car Insurance in Colorado by Category
- After an at-fault accident: $217 per month
- Driver with poor credit: $83 per month
- Teen driver: $300 per month
- After a DUI: $108 per month
Average Cost of Car Insurance in Colorado by Company
Company | Minimum Coverage | Full Coverage |
$786 per year | $2,651 per year | |
$640 per year | $3,448 per year | |
$504 per year | $2,299 per year | |
$722 per year | $2,324 per year | |
$919 per year | $3,421 per year | |
$313 per year | $1,361 per year | |
$622 per year | $1,840 per year | |
$734 per year | $2,429 per year | |
$425 per year | $1,556 per year | |
$325 per year | $1,541 per year |
Note: Rates are an approximation based on a 45-year-old man in Colorado with a clean driving record. Actual rates will vary.
Average Cost of Car Insurance in Colorado by Age
Age | Average Premium |
$3,601 per year | |
$2,870 per year | |
$2,522 per year | |
$1,827 per year | |
$1,579 per year | |
$1,174 per year | |
$1,030 per year | |
$942 per year | |
$881 per year | |
$747 per year | |
$625 per year | |
$606 per year | |
$575 per year | |
$622 per year |
Note: Rates are an approximation based on a driver in Colorado with minimum coverage and a clean driving record. Actual rates will vary.
How to Lower the Cost of Car Insurance in Colorado
- Shop around and compare quotes. We recommend comparing quotes from at least three different insurance companies to make sure you are getting the best rate.
- Choose a higher deductible. Your deductible is the amount you have to pay out of pocket before your insurance kicks in. Choosing a higher deductible can lower your premiums but means you will have to pay more out-of-pocket when you file a claim.
- Consider lowering your coverage. Consider purchasing only the minimum amount of coverage required by your state, rather than purchasing higher limits or a full coverage policy.
- Look for discounts you may be eligible for. For instance, most insurance companies offer a good-driver discount for customers with a clean driving record, a good-student discount, or a discount for paying your premiums in full up front.
To learn more, check out our guide to how much car insurance you need in Colorado as well as our picks for the cheapest car insurance companies in Colorado.
People also ask
How much car insurance do I need in Colorado?
Drivers in Colorado need $25,000 of bodily injury liability insurance per person (up to $50,000 per accident) and $15,000 of property damage liability insurance. Collision, comprehensive and gap insurance may also be required by a lender or lessor if your vehicle is financed.
In addition, an optional but recommended type of coverage in Colorado is uninsured/underinsured motorist insurance. It replaces the liability coverage an at-fault driver should’ve had and pays for your costs up to your policy limits.
...
read full answerWhy is Colorado car insurance so expensive?
Car insurance in Colorado is expensive because the state has several densely populated cities with more drivers and more accidents, which drives rates up. In Colorado, you can expect to pay around $5,014 per year for full coverage car insurance, compared to the national average of $4,211 per year. Car insurance in Colorado is more expensive than the national average, which is around $4,211 per year for full coverage and about $1,407 per year for minimum coverage.
The cost of car insurance is steadily...
read full answerWhat is the penalty for driving without insurance in Colorado?
The penalties for driving without insurance in Colorado include fines, community service, and license suspension. You can avoid these consequences by meeting Colorado’s proof of financial responsibility requirements. Colorado requires that all drivers have at least $25,000 in bodily injury liability coverage, up to $50,000 per accident, along with $15,000 in liability coverage for property damage.
Purchasing Colorado’s minimum liability car insurance coverage is the easiest way to satisfy the financial responsibility requirement. Drivers...
read full answerDid we answer your question?