Best cheap car insurance in Boulder for 2021

1
John Coletti/Getty Images
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . This content is powered by HomeInsurance.com (NPN: 8781838). For more information, please see our

In 2019, there were 5,573 car accidents reported in Boulder County, Colorado. Every driver in the city of Boulder is required by law to carry car insurance, and an auto insurance policy can be an integral part of your financial health. The average cost of car insurance in Boulder is $1,861 per year for full coverage insurance and $545 per year for minimum coverage insurance. American Family, USAA, State Farm and Geico are among the best cheap car insurance carriers in the city.

However, drivers in Boulder can choose between a number of different car insurance companies. To find the best car insurance in Boulder, Bankrate’s insurance editorial team evaluated the largest car insurance companies in Colorado using criteria like average premiums, coverage options, discounts, policy features and third-party rankings.

Best car insurance companies in Boulder

Based on our evaluation, the best car insurance companies in Boulder are American Family, USAA, State Farm and Geico. We chose these companies because they offer affordable rates, generous discounts and strong third-party ratings.

Insurance company J.D. Power score
(Southwest region)
Average annual premium for minimum coverage Average annual premium for full coverage
Geico 829/1,000 $282 $907
USAA* 863/1,000 $318 $1,173
State Farm 847/1,000 $507 $1,685
American Family 850/1,000 $744 $1,682

*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions.

Geico

Geico is one of the cheapest car insurance companies in Boulder, with rates that are well below the citywide average. Geico might be a good choice for drivers who need basic auto coverage and are shopping for car insurance on a budget. Some of the discounts available through Geico include savings for good students, safe drivers, military personnel, federal employees, affinity groups and having a vehicle with advanced safety features.

Learn more: Geico Insurance review

USAA

Boulder drivers can only purchase coverage through USAA if they are an active duty or retired military service member or an immediate family member. However, USAA offers some of the best car insurance coverage on the market, with excellent customer service, affordable rates and great discounts. With USAA, Boulder drivers might save money by garaging their vehicle on a military base, being a legacy customer, being a smart student, being a safe driver and insuring a new vehicle.

Learn more: USAA Insurance review

State Farm

State Farm is the largest car insurance company in the country and is a popular choice among Boulder drivers. State Farm offers limited car insurance coverage options, but it makes up for it by offering a long list of discounts. The company is one of the few that offers two safe driver rewards programs, including one specifically aimed at young drivers under 25. Drivers might also save money by bundling their policies, being claim-free and insuring a vehicle with safety features.

Learn more: State Farm Insurance review

American Family

American Family was rated the best insurer for overall customer satisfaction in the Southwest region, which includes Colorado, according to J.D. Power. In addition, the company stands out for offering below-average rates, good discounts and a variety of endorsements for customized coverage. Boulder drivers can purchase roadside assistance, accidental death and dismemberment and gap coverage to tailor their policies to their needs.

Learn more: American Family Insurance review

Cheapest car insurance in Boulder

In Boulder, the average annual car insurance rate is $1,861 for full coverage and $545 for minimum coverage. For comparison, the average cost of car insurance in Colorado is $2,016 annually for full coverage and $518 annually for minimum coverage. Nationwide, the average annual car insurance premium is $1,674 for a full coverage policy and $565 for a minimum coverage policy.

Car insurance rates will vary based on the insurance company you choose. In addition, every driver pays a different rate based on factors like their age, type of vehicle and driving record. If you are looking for cheap car insurance in Boulder, you may want to get quotes from these carriers:

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $282 $907
USAA $318 $1,173
Auto-Owners $436 $1,669
State Farm $507 $1,685
Farmers $560 $1,912

The providers in the table above are some of the cheapest car insurance companies in Colorado. However, you may want to compare insurers based on factors other than just price, such as coverage options and discounts.

For example, drivers looking for low rates and mobile tools might choose Geico, but military members might be attracted to the specialized coverages and discounts offered by USAA. Drivers who want a local agent might be more apt to choose State Farm, Auto-Owners or Farmers. Understanding your unique needs and comparing quotes can help you find a cheap policy that fits your circumstances.

Boulder insurance requirements

Drivers in Boulder must meet or exceed Colorado’s minimum car insurance requirements, which are abbreviated as 25/50/15. The minimum coverage limits include:

  • $25,000 in bodily injury coverage per person
  • $50,000 in bodily injury coverage per accident
  • $15,000 in property damage coverage per accident

Drivers who want a cheap rate may choose to purchase a minimum coverage policy to keep costs low. However, most insurance experts recommend higher liability limits if you can afford them. If you cause an accident and the damages and injuries exceed your policy’s limit, you would be responsible for paying the rest out of pocket. Higher liability limits offer more financial protection.

Additionally, if you lease or finance your vehicle, most lenders require drivers to carry full coverage insurance until the loan is repaid. Full coverage policies include comprehensive and collision coverages.

Car insurance discounts in Boulder

Most car insurance companies in Colorado offer at least a few discounts to help drivers lower their premiums. The exact savings differ between providers, but some of the most common ones include:

  • Multi-policy discount: If you purchase an auto and home, condo or renters insurance policy from the same company, you may qualify for a discount.
  • Good student discount: Drivers under 25 who maintain a certain GPA in school can often qualify for a lower car insurance rate.
  • Safe vehicle discount: If your car is equipped with safety features like anti-lock brakes, airbags or an anti-theft device, you might be able to get a cheaper rate.
  • New vehicle discount: Insuring a new vehicle can sometimes help you qualify for a discount on your premium.

While car insurance discounts can help you save money, every discount has a different savings potential. When comparing insurers, look at the average savings for each discount you can qualify for in order to get the lowest rate possible.

Frequently asked questions

What is the best car insurance company?

The best car insurance company is different for every driver, because every driver has different insurance needs. The best provider for you is the one that meets your needs, including what coverages you need and how much you can afford to pay for insurance.

How much car insurance do I need in Boulder?

Drivers in Boulder are required to purchase at least 25/50/15 personal liability car insurance. However, most insurance professionals recommend that most drivers raise their coverage limits or purchase a full coverage policy for additional protection. Working with a licensed agent might help you determine how much car insurance you need, including which coverages and what levels to purchase.

Do I need to buy full coverage in Boulder?

Full coverage is not required by law, but if you have a loan or lease on your vehicle you probably need a full coverage policy. Full coverage may also be a good idea if you have a new or expensive vehicle, or if you do not have the finances to pay for vehicle repairs out of pocket.

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 sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Written by
Elizabeth Rivelli
Insurance Contributor
Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.
Edited by
Insurance Editor