Best Car Insurance 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.

Here's How Much Car Insurance Drivers Need in Colorado:

If you lease or finance your car, you may be required to carry coverage types that are not mandatory under Colorado law. Lenders or lessors usually require comprehensive and collision insurance. Collision insurance covers repairs to your car when you hit another car or object. If the damage to your vehicle was caused by something other than a collision—like a natural disaster, vandalism, falling objects, or animals—it is most likely covered by comprehensive insurance. Lenders may also require gap insurance, which covers the difference between what you owe on your loan or lease and what the vehicle is worth if it has been stolen or totaled.

Even if you're not required to carry these optional coverage types, you may still need them. You can learn more about when to drop optional coverage and the penalties for driving without insurance in Colorado to make sure you're paying for the coverage you need.

Car insurance in Colorado costs $42 per month for minimum coverage, on average, and around $204 per month for a full-coverage policy. The cheapest insurance companies in Colorado are Geico, State Farm, and Grange and getting quotes from several companies can help you find the best deal.

Average Cost of Car Insurance in Colorado by Category

• Clean driving record: $42 per month
• After an at-fault accident: $79 per month
• Driver with poor credit: $83 per month
• Teen driver: $152 per month
• After a DUI: $108 per month

The average cost of car insurance in Colorado is 16% lower than the national average auto insurance premium, and Colorado ranks 27 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you'll pay for car insurance in Colorado, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.

Finally, it's worth noting that car insurance premiums in Colorado are high, compared to the cost of coverage in neighboring states like Nebraska and Wyoming. You can find more details in the table below.

Cost of Car Insurance in Colorado vs. Neighboring States

Note: Rates are an approximation based on a driver in Colorado with minimum coverage. Actual rates will vary.

In Colorado, you need $25,000 in bodily injury liability insurance per person ($50,000 per accident) plus $15,000 in property damage liability insurance to drive legally. These liability insurance requirements can also be written as 25/50/15.

Even though Colorado only requires 25/50/15 in liability insurance, drivers should consider buying more coverage if they can afford it. If you cause an accident that results in damage beyond your policy limits, you will be personally responsible for paying the difference. And no matter what, you should be sure to fulfill the minimum Colorado car insurance requirements to avoid facing consequences for driving without insurance.

Finally, drivers should also consider purchasing other types of car insurance in order to better protect themselves, given that liability insurance does not provide any coverage for the policyholder's own injuries or property. For instance, collision insurance covers damage to the policyholder's car regardless of fault. And comprehensive insurance pays if the policyholder's vehicle is damaged by something besides an accident, like a natural disaster or vandalism.

Full coverage insurance in Colorado costs an average of $175 per month ($2,101 annually). A full coverage policy usually includes collision and comprehensive insurance, plus the types of coverage required by Colorado law. In Colorado, liability insurance is mandatory for all drivers.

Monthly Cost of Full Coverage Insurance in Colorado

Note: Premiums are for a 45-year-old good driver in Colorado; individual premiums will vary.

How to Get Cheaper Full Coverage Insurance in Colorado

1. Compare quotes from several companies to make sure you're getting the best deal.
2. Increase your deductible. Higher deductibles lead to lower premiums, but remember to only pick a deductible you'd be able to afford in an emergency.
3. Don't forget to make sure you're getting all the discounts you can.

To learn more, check out WalletHub's guide to full coverage car insurance.