Drivers in Colorado with normal driving records can expect to pay $2,016 per year for full coverage and $518 per year for minimum coverage. Though these amounts aren’t the most expensive rates in the country, it’s still possible to get them down even more. Make the right decisions and you could potentially pay even less for car insurance.
How much does car insurance cost in Colorado?
How much is car insurance in Colorado? That depends on a variety of factors, including:
- Age
- Sex
- Driving history
- State
- Location
- Car make and model
- Deductible
- Coverage amount
- Discounts
- Marital status
- Credit score
Currently, car insurance rates in Colorado average $518 per year for minimum coverage and $2,016 per year for full coverage. This is slightly higher than the U.S. national average – $565 annually for minimum coverage and $1,674 annually for full.
Colorado car insurance rates by company
Each company charges a different amount for a variety of reasons. Below are the top companies that Colorado drivers have to choose from. As you’ll see, sometimes the rates are dramatically different from one company to the next.
| Car insurance company | Average annual premium for minimum coverage | Average annual premium for full coverage |
|---|---|---|
| Acuity | $483 | $1,872 |
| Allstate | $635 | $1,711 |
| American Family | $699 | $1,909 |
| American National | $207 | $767 |
| Auto-Owners | $479 | $1,951 |
| California Casualty | $493 | $2,411 |
| Colorado Farm Bureau Insurance | $615 | $2,870 |
| Farmers | $488 | $1,883 |
| Geico | $283 | $1,106 |
| Grange | $299 | $2,010 |
| MetLife | $517 | $2,550 |
| Progressive | $761 | $3,024 |
| State Farm | $435 | $1,696 |
| USAA | $303 | $1,310 |
Colorado car insurance rates by city
Average car insurance rates in Colorado vary based on where you live in the state, as does the best car insurance company for you. Cities with higher populations are statistically more likely to have a higher frequency of claims.
Below are the top 20 cities ranked by population with their corresponding average premium costs to the right. The percentage increase is how much more (or less) these city averages are compared to the average annual Colorado premium of $2,017 for full coverage.
| City | Average annual premium for full coverage | % increase in average annual premium |
|---|---|---|
| Denver | $2,232 | 11% |
| Colorado Springs | $2,178 | 8% |
| Aurora | $2,281 | 13% |
| Fort Collins | $1,773 | -12% |
| Lakewood | $2,130 | 6% |
| Pueblo | $2,323 | 15% |
| Thornton | $2,018 | 0% |
| Arvada | $1,968 | -2% |
| Boulder | $1,861 | -8% |
| Westminster | $1,941 | -4% |
| Greeley | $1,826 | -9% |
| Longmont | $1,839 | -9% |
| Centennial | $2,067 | 3% |
| Highlands Ranch | $1,957 | -3% |
| Loveland | $1,720 | -15% |
| Grand Junction | $1,643 | -19% |
| Broomfield | $1,881 | -7% |
| Parker | $2,014 | 0% |
| Littleton | $1,985 | -2% |
| Castle Rock | $1,970 | -2% |
Cost of living in Colorado and car insurance
When shopping for the best car insurance rates in Colorado, it’s important to factor in your other expenses so that you’re looking at your total living costs. The graph below shows the average annual cost of living in Colorado, including the average cost of car insurance. Use this graph as a guide to help determine your overall expenses so that you can decide what insurance rates fit in your budget.
Colorado car insurance rates by age
Younger drivers are more likely to get into an accident because of their lack of experience behind the wheel. As they mature and get more experience, the cost they pay goes down.
| Age | Average annual premium in Colorado |
|---|---|
| Age 16 | $2,936 |
| Age 17 | $2,687 |
| Age 22 | $3,093 |
| Age 25 | $2,442 |
| Age 30 | $2,187 |
| Age 35 | $2,137 |
| Age 40 | $2,078 |
*16-year-old and 17-year-old calculated on parent’s policy disclosure
Colorado car insurance rates by driving record
Colorado car insurance rates are greatly affected by driving history. The table below illustrates the percentage increase you can expect after a major offense:
| Driving incident | Average annual full coverage premium in Colorado | % increase in average annual premium |
|---|---|---|
| Speeding ticket | $2,440 | 21% |
| Accident | $2,845 | 41% |
| DUI | $3,286 | 63% |
How to save on car insurance in Colorado
If you utilize the below strategies, you should be able to lower your Colorado car insurance rates:
- Compare providers: Every provider charges a different amount because every provider has its own pricing algorithm. For example, how your credit score impacts your car insurance premium will vary from company to company. It’s because of this that it is always worth your time and effort to shop around for a cheaper provider.
- Increase your deductible: A high deductible will most likely help to lower the amount you pay each month, but it will also lower the amount you receive in the event of an accident.
- Drive an older car: An older car costs less to insure because it costs less to replace. To keep you and your family safe, just make sure it has a high safety rating (note: this will also help your insurance costs).
- Discounts: Most major providers offer a variety of discounts to help lower your premium. The trick is to compare providers and the amount of savings you’ll receive with each.
- Increase your credit score: Lower credit scores have been linked with a higher frequency of claims. Increase your credit score and your insurance provider should lower your premium.
Colorado insurance requirements
Colorado is a 25/50/15 state. This means that you must be carrying enough insurance to cover up to:
- $25,000 per person for bodily injury
- $50,000 per accident for bodily injury
- $15,000 per accident for property damage
Though this is a lot of money, Colorado drivers may want to consider purchasing more coverage if they can. There are many valid reasons to do this. For starters, should any natural weather event damage your car, you’ll be forced to pay for the repairs out of pocket. If you had comprehensive, it would probably not be necessary. Another reason is if you are hit by an uninsured motorist who has zero assets, taking that person to court won’t get you anywhere. All of your medical bills and property damage would be left to you to take care of.
Frequently asked questions
Is Colorado a no-fault state?
No, Colorado is not a no-fault state. It is a tort state, which means the at-fault driver must pay for any damages caused by his or her driving.
Is uninsured motorist coverage required in Colorado?
No, but each insurance provider must at least offer it.
Required or not, Colorado drivers should strongly consider it because the state has a 13.3% uninsured motorist rate (according to the latest study by Insurance Information Institute).
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
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