Best Auto Insurance Rates in Colorado

On average, your neighbors pay $107 a month.

See Your Rates

Compare Cheap Car Insurance in Colorado

The elevation in Colorado is high, but your insurance rates don’t have to be. This useful insurance information can help Coloradans find the best car insurance rates.

Find out how your rates stack up, how to get better rates, and more.

Average Cost of Car Insurance in Colorado

Colorado drivers are lucky they are paying below the national average ($78/month) for car insurance. However, Colorado has the second highest rates behind Nevada ($85/month) for states west of the Rocky Mountains.

Average Base Car Insurance Rate in Colorado: $66/month

How Much Does It Cost to Add Collision and Comprehensive Coverage?

Colorado’s average monthly rate of $66, only accounts for Colorado’s 25/50/15 minimum liability limits of a car insurance policy. It is always recommended for drivers to include collision and comprehensive to cover additional damages to your car and other property. Collision and comprehensive coverage doesn’t cost much more include on your policy.

Collision: $25/month3

Comprehensive: $16/month3

A combined policy of state minimum liability with collision and comprehensive coverage will leave Colorado drivers with an average $107 a month for car insurance

The Cheapest Car Insurance Companies in Colorado

Average Monthly Car Insurance Rates
Company Monthly Premium
Safeco $39
Auto Owners $41
State Farm $41
American Family $56
Colorado Farm Bureau $58
GEICO $60
Colorado Average $66
Amco $69
Allstate $75
Progressive $76
Farmers $97
These average rates are based on our sample quote data using state minimum liability. 1

When looking for the cheapest car insurance, folks in Colorado would want to start by looking at regional car insurance companies like Colorado Farm Bureau ($58/month) or Auto Owners ($41/month). Regional car insurance companies are typically able to offer lower rates due to their low risk exposure.

However, large national insurance companies are still able to offer competitive cheap rates. Safeco ($39/month) and State Farm ($41/month) are ultra competitive when it comes to lower rates. Geico ($60/month) and American Family ($56/month) are also among the larger insurance companies with cheaper rates in Colorado.

The rates you see about are estimated base rates for minimum liability car insurance. Your rates will vary depending on your driving history, car and the many factors insurance companies use to set rates. These average rates are meant to set a ballpark baseline for your insurance shopping experience.

Cheapest Car Insurance for People with Tickets and Accidents in Colorado

Colorado drivers with a ticket or accidents can expect to pay $5 more than drivers with a clean record. Depending on the frequency and severity of incidents on your record, rates could climb significantly higher.

Average Monthly Car Insurance Rates
Company Monthly Premium
Safeco $45
Auto Owners $45
State Farm $46
Colorado Farm Bureau $62
American Family $65
Colorado Average $71
GEICO $78
Amco $79
Allstate $84
Progressive $89
Farmers $115
These average rates are based on our sample quote data using state minimum liability. 2

Average Cost of Car Insurance Increasing Every Year

We looked at NAIC Average Expenditures For Auto Insurance report to see how much car insurance rates increase year over year in Colorado. Colorado leads the nation at 27% for car insurance increases from 2012 to 2016. 27% is staggering compared to the national average of 15% increase in the same time period. That’s a nearly $200 yearly increase in car insurance premiums from 2012 to 2016. The increases were not accompanied by changes in the laws. Given no legal changes, an increase in accidents and loss from insurance companies could be the reason for such high increases.

Colorado average car insurance rates

Monthly Expenditure estimates provided by NAIC Average Expenditures For Auto Insurance report. 3

Cheap and Expensive Cities for Car Insurance in Colorado

Cheap Cities in Colorado

Average Car Insurance Rates
City Monthly Premium
El Jebel $55
Bedrock $55
Cimarron $55
Paradox $55
Basalt $55
Hayden $55
Cedaredge $55
Paonia $55
Parlin $55
Minturn $55
These average rates are based on our sample quote data using state minimum liability. 1

Expensive Cities in Colorado

Average Car Insurance Rates
City Monthly Premium
Aurora $86
Denver $84
Edgewater $82
Cherry Hills Village $82
Dupont $80
Federal Heights $80
Northglenn $79
Commerce City $79
Wheat Ridge $79
Lakewood $79
These average rates are based on our sample quote data using state minimum liability. 1

How Bad Are Colorado Drivers?

With Colorado experiencing a nationwide leading 27% increase in car insurance rates from 2012 to 2016 can likely be blamed on a higher rate of incidents among Colorado drivers. A QuoteWizard best and worst driver study could very well back that up. According to a 2016 study Colorado ranked 8th worst in the county. The study was based on rate of incidents such as accidents, speeding tickets, DUI’s, and citations.

Even if you’re a diver with a clean record. It could be the bad drivers with poor driving records that drive your rates up.

Colorado Car Insurance Laws

Minimum Car Insurance Requirements in Colorado

Colorado requires it’s drivers to have at least 25/50/15 coverage. This means your policy needs to have a minimum of:

  • $25,000 of coverage for bodily injury liability per person
  • $50,000 of coverage for bodily injury liability per incident
  • $15,000 of coverage for property damage liability per incident

Recommended Coverage Levels

Minimum coverage makes you road worthy as far as Colorado is concerned, but it doesn’t cover all your bases. Even a minor crash can cost more than what minimum liability covers. To keep this from happening, we recommend:

Minimum coverage only does so much. It will cover the other driver in an accident, but it doesn’t cover your damages. Also, it’s all too easy for an accident to cost more than what minimum liability covers. In order to make sure you’re properly covered, we recommend:

  • Individual Body Injury Liability: $100,000
  • Total Bodily Injury Liability: $300,000
  • Property Damage Liability: $100,000

Rate Methodology

1 Auto insurance rate data was provided by Quadrant Information Services. Rates are based on a driver profile of a 35-year-old, owning a 2015 Toyota Camry, drives less than 10,000 annual miles, good credit, clean record, and state minimum liability of 25/50/15. Rates are an average of the top 10 insurance companies in the state of Colorado.

2 Auto insurance rate data was provided by Quadrant Information Services. Rates are based on a driver profile of a 35-year-old, with a single ticket or accident, owning a 2015 Toyota Camry, drives less than 10,000 annual miles, good credit, and state minimum liability of 25/50/15. Rates are an average of the top 10 insurance companies in the state of Colorado.

3 The National Association of Insurance Commissioners Average Expenditures are estimates of what consumers actually spend for insurance on each vehicle. The NAIC assumes not all policyholders purchase all three forms of coverage, liability, collision and comprehensive.

Colorado Division of Insurance

Website:
Homepage
Insurance Commissioner:
Michael Conway
Insurance Hotline:
(800) 886 - 7675
Office Hours:
Monday - Friday
8:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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