Best Auto Insurance Rates in Colorado

On average, your neighbors pay $71 a month.

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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 Colorado Car Insurance Rates

How much is car insurance in Colorado? On average, insurance in Colorado costs $857.44 per year. The national average annual cost is $889.01.

Prices will vary depending on policy limits, coverage, and local claim rates. On average, Coloradans pay a bit less for car insurance than most Americans.

Colorado (CO) Average Annual Car Insurance Rates
Coverage Rates
Liability $520.04
Collision $287.00
Comprehensive $174.61
Total Cost Per Year $857.44
Price Per Month $71.45
Source: Facts + Statistics: Auto insurance

The graph below shows the change in Colorado's average auto insurance rate from 2011 to 2015, the most recent year the data is available. According to the III, Colorado car insurance rates increased from $728 in 2011 to $855 in 2015, a jump of $127, or 17.45 percent.

Colorado average car insurance rates

Looking for car insurance in Colorado with the best coverage for an affordable rate? Shop around. Compare rates from a number of insurance companies.

QuoteWizard can help. We’ll connect you to top auto insurance companies. You can find a great policy without breaking the bank.

Last year, 42,046 people used QuoteWizard to compare car insurance quotes in Colorado from multiple companies to get the cheapest rates.

Most Popular Auto Insurance Companies in Colorado

These are the most common car insurance companies reported by QuoteWizard users in Colorado. Out of the 42,046 Coloradans that used QuoteWizard to request insurance quotes last year, 5,056 had no car insurance.

What company suits your needs best? You can study them side by side on our compare page. We’ve compiled guidelines for the 30 biggest insurance companies in America. Getting educated is the first step to getting the right policy. What better way to compare auto insurance quotes in Colorado?

If you’re having a hard time finding high-risk auto insurance in Colorado, check out the Colorado Automobile Insurance Plan (CO AIP). The CO AIP is there to help you find coverage if you’re are unable to do so through regular insurance channels.

Are you a teen driver or the parent of one? Then you probably know how expensive it is to insure a teen driver. On average, an insurance policy for a teen driver costs $438 a month. Progressive, AAA, and GEICO are all known to have good plans for teen drivers.

Top 10 Vehicles

These are the most commonly owned cars of QuoteWizard Users in Colorado:

  1. Ford F150
  2. Jeep Grand Cherokee Laredo
  3. Honda Accord EX
  4. Dodge Ram 1500
  5. Toyota Camry LE
  6. Ford Explorer
  7. Honda Accord LX
  8. Ford Focus SE
  9. Toyota RAV4
  10. Honda Civic EX
Get a quote for your vehicle. Request Quote Get a Quote For Your Vehicle

Colorado Car Insurance Rate Factors

While many of the factors that go into your rate are individual, there are others that affect everyone in your area. These include percentage of uninsured drivers, regional driver history, and auto theft rate.

Uninsured Drivers

13.3 percent of Colorado drivers are uninsured. This puts them at 19th for most uninsured drivers in the country. This is .3 percent over the average national uninsured driver rate of 13 percent. Too many drivers without insurance in your zip code can raise rates for everyone.

Best and Worst Drivers

Our study of best and worst drivers in the country found that Colorado has the 26th worst drivers in the US. We compile this ranking by analyzing accident, citation, speeding ticket, and DUI rates. On the city scale, Denver came in 15th and Colorado Springs came in 46th for worst driving cities in the country. Living in an area with lots of bad drivers can raise insurance rates.

Most Commonly Stolen Vehicles

Colorado has the 19th highest rate of auto theft in the country. If stolen cars are a problem in your city, it can result in higher rates all around, especially if you own a commonly stolen car. Following are the top ten stolen cars in Colorado. Look and see if your vehicle is at risk.

Source: National Insurance Crime Bureau: Hot Wheels Report 2017

  1. 2006 Ford Pickup (Full Size)
  2. 1998 Honda Civic
  3. 1997 Honda Accord
  4. 2004 Chevrolet Pickup (Full Size)
  5. 1999 Jeep Cherokee/Grand Cherokee
  6. 2002 Subaru Impreza
  7. 1998 Subaru Legacy
  8. 2001 Dodge Pickup (Full Size)
  9. 1997 Toyota Camry
  10. 2001 GMC Pickup (Full Size)

Car Insurance Discounts in Colorado

Insurers often have a wide array of discounts you can use to cut down your premium. Here are some of particular interest to Coloradans:

  1. The average number of cars per Colorado household is two. If you own two or more cars, see if your insurance company offers a multi-car discount.
  2. The number of retirees in Colorado is on the rise. If you’re one of them, ask about a 55 and retired discount.
  3. Attending one of the many colleges or universities in Colorado? If you have a B average or better, odds are you can get a Good Student Discount.
  4. If you have life or home insurance already, see if you can bundle your policy with auto insurance. This helps you save money on both policies.
  5. Alternative fuel cars are becoming more and more popular in Colorado. Owning one can get you a discount.

Colorado Car Insurance Law

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:

  • Bodily Injury Liability per person: $25,000
  • Bodily Injury Liability per incident: $50,000
  • Property Damage Liability per incident: $15,000

Recommended Coverage

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:

  • Individual Body Injury: $100,000
  • Total Bodily Injury Liability: $300,000
  • Property Damage Liability: $100,00

Required Proof of Car Insurance

Coloradans are required to have proof of insurance when they drive. Inability to show proof of insurance will result in an infraction citation. These infractions can result in a higher auto premium.

SR-22 Requirements

Should your license be suspended, Colorado requires you to file an SR-22. On average, you will need to keep the SR-22 for three years straight, but it could be up to five years. If you let the SR-22 go during that time period, your insurance company will notify CO state government and your license will be resuspended.

Totaled Cars with Salvage or Rebuilt Titles

If your car is damaged and the repair cost is close to the car’s worth, your insurer may deem it a total loss. Total loss cars receive a salvage title. Once it’s repaired, it gets a rebuilt title.

Each state has different laws regarding totaled cars. In Colorado, it’s calculated by a percentage limit of the car’s actual cash value. Colorado’s total loss percentage is 100 percent. Should the damage of the car meet or exceed 100 percent of the car’s actual cash value, your insurer marks it as a total loss.

Finding insurance for a rebuilt or salvage title in Colorado is difficult. Best case scenario is that you will find it at a high premium. Some insurance companies will not cover a rebuilt or salvaged title.

Colorado Traffic Safety Laws

Distracted Driving

Colorado state law prohibits texting while driving. Talking on a handheld cellphone is not currently against the law in Colorado, but that may soon change. All drivers in CO under the age of 18 are prohibited from using a cell phone at all. Anyone violating these laws receive a Class A traffic infraction and a $50 fine for the first offense. The second offense comes with a $100 fine.

DUI Law

Driving in Colorado with a Blood Alcohol Content (BAC) of 0.08 or more is considered Driving Under the Influence (DUI). The first DUI offense can result in:

  • Administrative license revoking for nine months
  • A fine of $600 to $1,000
  • Up to one year in jail.
  • Up to 96 hours community service
  • Rehabilitation classes

Along with these penalties, your auto premium is sure to go up. Our research has shown that a driver with a DUI charge pays an average of $830 more per year for auto insurance. This assumes you will be able to find a company to cover you after a DUI.

Senior Drivers

It’s probable that your auto rates will go up when you turn 65. This won’t have a huge effect if you have a clean record. However, as you get older the increase continues.

Once you turn 60, Colorado requires you to renew your license every five years. You are then required to renew your license in person at the DMV. There is a vision test with each renewal, and possibly a written test.

Cars Registered in Other States

If you drive a car in Colorado that’s registered in another state, you must carry the insurance that state requires. You also need to carry proof of insurance.

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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