State Farm and Progressive offer the cheapest car insurance in Colorado, with monthly rates of $107 and $131, respectively, for full-coverage car insurance, according to an in-depth rate analysis by QuoteWizard. Here’s what else our research reveals about cheap car insurance in Colorado.
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Which company offers the cheapest car insurance in Colorado?
When we compared car insurance quotes for Colorado drivers, State Farm offered the cheapest rates, with minimum-coverage insurance costing $94 a month and full coverage costing $107 a month. Progressive’s rates were second best, at $114 a month for minimum coverage and $131 a month for full coverage.
GEICO and USAA offer the next-cheapest minimum-coverage insurance in Colorado, with nearly identical monthly rates of $123 and $124, respectively. USAA’s rate of $135 a month for full coverage is lower than GEICO’s rate, $148 a month.
USAA is only available to current and former members of the military and their families.
Statewide, the average cost of minimum-coverage car insurance, which meets Colorado’s minimum requirements for liability coverage, is $1,984 a year, or $166 a month.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,131 | $94 |
| Progressive | $1,365 | $114 |
| GEICO | $1,474 | $123 |
| Allstate | $1,819 | $152 |
| Average | $1,984 | $165 |
| Farmers | $2,549 | $212 |
| American Family | $2,893 | $241 |
| Nationwide | $3,152 | $263 |
| USAA | $1,489 | $124 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Full-coverage car insurance typically includes collision and comprehensive coverage, as well as liability limits that exceed the state’s minimum requirements.
The average rate for full-coverage car insurance statewide is $184 a month, or $19 more per month than a minimum-coverage policy.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,280 | $107 |
| Progressive | $1,567 | $131 |
| GEICO | $1,772 | $148 |
| Allstate | $1,967 | $164 |
| Average | $2,208 | $184 |
| Farmers | $2,855 | $238 |
| American Family | $3,099 | $258 |
| Nationwide | $3,513 | $293 |
| USAA | $1,614 | $135 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Get cheap car insurance in Colorado
Who offers cheap car insurance after a ticket or accident?
State Farm charges an average rate of $116 a month for full-coverage car insurance to Colorado drivers with a speeding ticket and $126 a month to those with an accident. These are considerably lower than the rates available to drivers with tickets or accidents from other companies in our analysis.
In Colorado, a speeding ticket raises the average rate of full-coverage insurance 27% to $233 a month. State Farm’s rate is about half the state average.
The monthly rates from USAA, $169 a month, Progressive, $172, Allstate, $182, and GEICO, $199, are also below the state average for drivers with a speeding ticket.
For certain speeding or other traffic offenses, you may be eligible to keep the violation off your record by attending a court-approved traffic school.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,395 | $116 |
| Progressive | $2,067 | $172 |
| Allstate | $2,178 | $182 |
| GEICO | $2,392 | $199 |
| Average | $2,707 | $233 |
| American Family | $3,717 | $310 |
| Farmers | $4,065 | $339 |
| Nationwide | $4,538 | $378 |
| USAA | $2,024 | $169 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Cheap car insurance after an accident
State Farm’s monthly rate on full-coverage insurance for Colorado drivers with an accident is $126 a month, which is considerably lower than the rates available from USAA, $197 a month, and Progessive, $198 a month.
Statewide, an accident raises the average rate of full-coverage car insurance 54% to $284 a month. This is about $100 more per month than the rate available to drivers with a clean record.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,511 | $126 |
| Progressive | $2,380 | $198 |
| Allstate | $3,076 | $256 |
| GEICO | $3,382 | $282 |
| Average | $3,403 | $284 |
| Farmers | $4,101 | $342 |
| American Family | $4,488 | $374 |
| Nationwide | $5,924 | $494 |
| USAA | $2,362 | $197 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
How much does car insurance cost after a DUI?
State Farm offers considerably cheaper rates on full-coverage car insurance to Colorado drivers convicted for driving under the influence (DUI), $116 a month, than Progressive, $158 a month, and Allstate, $218 a month.
In Colorado, a DUI raises the average price of full-coverage car insurance 59% to $292 a month.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,395 | $116 |
| Progressive | $1,894 | $158 |
| Allstate | $2,613 | $218 |
| GEICO | $3,353 | $279 |
| Average | $3,499 | $292 |
| American Family | $3,717 | $310 |
| Farmers | $3,937 | $328 |
| Nationwide | $7,713 | $643 |
| USAA | $3,371 | $281 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Where can I find cheap car insurance for 18-year-olds?
The cheapest rates for minimum-coverage car insurance for 18-year-olds in Colorado are available from State Farm, $277 a month, and USAA, $290 a month. The next-lowest rate is available from GEICO, $334 a month.
State Farm and USAA charge $320 and $321 a month, respectively, for full-coverage car insurance for 18-year-olds. The next-best rate jumps to $429 a month from GEICO.
In general, the cost of teen car insurance is higher than car insurance for other age groups, primarily because teen drivers have the highest crash rates.
The average cost of minimum-coverage car insurance for an 18-year-old is $552 a month, which is more than double the average rate for all drivers. Most young drivers begin qualifying for better rates in their early to mid 20s.
Until then, teens usually get better rates when added to a parent’s or guardian’s car insurance policy. Teens who stay on their family’s policy may also qualify for discounts that many insurance companies offer to good students, students away at college and/or young drivers who complete an approved driver education program.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $3,321 | $277 |
| GEICO | $4,004 | $334 |
| Allstate | $5,044 | $420 |
| Average | $6,618 | $552 |
| American Family | $6,735 | $561 |
| Progressive | $7,563 | $630 |
| Farmers | $10,583 | $882 |
| Nationwide | $12,214 | $1,018 |
| USAA | $3,480 | $290 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $3,840 | $320 |
| GEICO | $5,144 | $429 |
| Allstate | $5,659 | $472 |
| American Family | $7,497 | $625 |
| Average | $7,746 | $645 |
| Progressive | $9,086 | $757 |
| Farmers | $12,927 | $1,077 |
| Nationwide | $13,960 | $1,163 |
| USAA | $3,851 | $321 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Who offers cheap car insurance to senior drivers?
State Farm also offers the cheapest rates on minimum-coverage car insurance to seniors in Colorado with rates of $87 a month for a 60-year old, followed by Progressive, $104 a month, and GEICO, $113 a month.
As a group, senior citizen drivers have higher crash rates than middle-aged drivers and see their insurance rates inch up as they reach retirement age.
The average cost of full-coverage insurance for a 65-year-old in Colorado is $171 a month, compared to $164 a month for a 60-year-old. The average cost of full-coverage car insurance for a 75-year-old is $211 a month.
Some companies offer a discount to seniors who complete an approved driver education course, in person or online.
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,045 | $87 |
| Progressive | $1,253 | $104 |
| GEICO | $1,354 | $113 |
| Allstate | $1,651 | $138 |
| Average | $1,768 | $147 |
| American Family | $2,387 | $199 |
| Farmers | $2,432 | $203 |
| Nationwide | $2,612 | $218 |
| USAA | $1,405 | $117 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
| Company | Annual | Monthly |
|---|---|---|
| State Farm | $1,188 | $99 |
| Progressive | $1,448 | $121 |
| GEICO | $1,638 | $136 |
| Allstate | $1,782 | $148 |
| Average | $1,967 | $164 |
| American Family | $2,561 | $213 |
| Farmers | $2,685 | $224 |
| Nationwide | $2,903 | $242 |
| USAA | $1,534 | $128 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Save money on Colorado auto insurance coverage
How much does car insurance cost in Colorado?
An average motorist in Colorado can expect to pay $1,984 a year for minimum-coverage car insurance, but the location of your home can impact your rates. For example, the average rate for minimum-coverage insurance in Greeley is $1,629 a year, compared to $2,056 a year in Denver.
| Coverage | Annual rate |
|---|---|
| Arvada | $1,848 |
| Aurora | $2,146 |
| Colorado Springs | $1,989 |
| Denver | $2,056 |
| Fort Collins | $1,606 |
| Greeley | $1,629 |
| Lakewood | $2,029 |
| Pueblo | $2,116 |
| Thornton | $1,875 |
| Westminster | $1,828 |
| Average | $1,984 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
What do Colorado car insurance laws require?
Colorado requires automobile owners to carry 25/50/15 liability insurance, which includes the following:
- Bodily injury liability limits of at least $25,000 per person and $50,000 per accident
- Property damage liability limits of at least $15,000 per accident
The state does not require you to obtain collision or comprehensive coverage, but if you finance your car, your lender will probably require both.
| Coverage | What it pays for |
|---|---|
| Bodily injury liability: Required with limits of at least $25,000 per person and $50,000 per accident. | Medical treatment for others injured in an accident you cause. |
| Property damage liability: Required with a limit of at least $15,000 per accident. | Repair or replacement of the vehicle/property of others after an accident you cause. |
| Collision: Optional, but usually required for a loan. | Repair or replacement of your own vehicle after a collision you cause, or hit and run. |
| Comprehensive: Optional, but usually required for a loan. | Repair or replacement of your own vehicle after theft, vandalism, fire, flood or other non-collision causes. |
| Uninsured/underinsured motorist coverage: Optional. Insurance companies must offer it, but you can reject it. | Treatment of injuries you and/or your passengers suffer in an accident caused by an uninsured driver or someone without enough insurance. |
| Medical payments: Optional. | Medical expenses for injuries you and/or your passengers suffer in an accident, regardless of fault. |
| Source: Colorado General Assembly | |
Colorado’s at-fault car insurance laws require a person who causes a car accident to pay for victims’ medical bills and the repair costs of damaged vehicles and other property.
If you cause an accident and your policy’s limits are not high enough to cover a victim’s medical and/or repair costs, they can seek a judgment against you and potentially seize your assets or future earnings. This is why you should consider liability limits that match your net worth.
How does SR-22 insurance work in Colorado?
Colorado requires motorists seeking to reinstate a driver’s license after certain offenses, including DUI and reckless driving, to submit an SR-22 form to the Division of Motor Vehicles (DMV). The insurance company provides the form, which you fill out and submit to the DMV, in person or by mail.
Insurance companies report SR-22 policy cancellations to the DMV, which can result in a driver’s license suspension. If you switch insurance companies while required to have SR-22 insurance, you must notify the DMV and submit a new SR-22 form promptly.
Frequently asked questions about Colorado car insurance
How much is car insurance in Colorado?
The average cost of minimum-coverage car insurance in Colorado is $165 a month, while the average cost of full-coverage car insurance is $184 a month.
Do I need insurance to register a car in Colorado?
You must provide proof of insurance to register a car in Colorado. Your insurance ID card, a copy of your Colorado insurance policy, or an electronic copy of your proof of insurance on your smartphone or laptop are among the acceptable documents.
How much car insurance do I need in Colorado?
Colorado requires motorists to carry bodily injury liability insurance with limits of at least $25,000 per person and $50,000 per accident, plus property damage liability with limits of at least $15,000 per accident. If you finance your car, your lender will probably require collision and comprehensive coverage.
Methodology
Our analysis of Colorado car insurance rates is based on non-binding quotes from Quadrant Information Services for a typical driver in the state’s 10 most populated cities. Unless otherwise noted, a typical driver is a 35-year-old male with a clean driving record. He owns a 2012 Honda Accord LX and drives an average 13,500 miles a year.
Minimum-coverage insurance rates are based on a policy with bodily injury limits of $25,000 per person and $50,000 per accident, and a $15,000 limit on property damage liability.
Full-coverage insurance includes the following policy limits and deductibles:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability
- $500 deductible for collision coverage
- $500 deductible for comprehensive coverage
Sources:
Auto insurance by city
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