Car driving in Aspen, Colorado
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Colorado is a state with a blossoming population, and that means a lot of new drivers on the roads. There are some 2.5 million people that commute to work in Colorado, and that means at least 2.5 million people who need insurance. But what are the insurance requirements in Colorado? And where can I get cheap car insurance in Colorado?

When looking for the best cheap car insurance Colorado has to offer, there are a few things you’ll need to get your insurance:

  • VIN and license plate number
  • Current mileage and mileage driven every year
  • Personal information for all drivers on the policy
  • Current coverage limits or minimum required by your lender

Make sure to get all of your information together so that you’re prepared to get quotes from the best car insurance companies in Colorado.

 

Best car insurance companies in Colorado

According to J.D. Power’s U.S. Auto Insurance Study (2019), the best car insurance Colorado has to offer comes from one of these insurance agencies:

  • Allstate: We chose Allstate because of the variety of options available for car insurance coverage, including accident forgiveness and preferred repair services.
  • American Family: We like that American Family offers discounts for a number of things, including coming to them from one of their competitors. They also offer a young volunteer discount for people under the age of 25.
  • Geico: For the lowest price all around, Geico is the best option. They have the lowest premiums for most situations due to their wide network and extensive discount list.
  • Progressive: If you just want the basics with the standard discounts, Progressive has what you need. They offer a few additional coverage options, like gap coverage and rental reimbursement.
  • State Farm: We chose State Farm for the safe driver and safe vehicle discounts, along with a few other categories of discounts, like discounts for loyal customers.
J.D. Power Rating A.M. Best Rating BBB Rating
Allstate 3 out of 5 stars A+ A+
American Family 3 out of 5 stars A A+
Geico 3 out of 5 stars A++ B+
Progressive 2 out of 5 stars A+ B-
State Farm 5 out of 5 stars A++ A

Finding the right cheap car insurance in Colorado for you

Everyone’s situation is different, and each situation will yield different car insurance rates. The cheapest car insurance Colorado has to offer will vary. Take a look at some of the situations below in which one car insurance provider is better than another, according to U.S. News’ 2019 study ranking Colorado car insurance companies.

Cheapest car insurance for good drivers: State Farm

State Farm offers a number of safe driver and safe vehicle discounts, making it the best all around insurance in Colorado. Their Drive Safe & SaveTM program is one discount they offer that can benefit good drivers. They also have the highest J.D. Power Rating of all the insurance providers we reviewed. Geico also offers the lowest average premium for drivers with a clean record.

Cheapest car insurance for students: State Farm

With multiple discounts for students and drivers under the age of 25, State Farm is the cheapest car insurance for students that are good drivers. For students on their parent’s insurance, that discount is extended even further with a multiple car discount.

Cheapest car insurance for people with low credit: Geico

There’s a reason that Geico is one of the top car insurance providers in the country; they offer some of the lowest premiums for people with poor credit. According to a 2019 study by U.S. News, Geico’s premiums are considerably lower for those with poor credit, at about $1,644 vs. $2,053 for the next cheapest provider, Nationwide.

Cheapest car insurance for people with one accident: State Farm

According to U.S. News, for those with one accident in Colorado, the cheapest options include USAA (if you’re eligible), State Farm and Geico. Get quotes for each of these providers if you have an accident on your record.

Average car insurance cost in Colorado

In 2016, the average six-month premium for car insurance in Colorado was $935.39. The nationwide average was $935.80, so Colorado is right in line with the average. That’s the most recent data from the Insurance Information Institute. Below, find 2019 information on drivers with different credit profiles and how your credit impacts your premium, according to U.S. News.

Good Fair Poor
Allstate $1,966.39 $2,563.40 $3,327.26
American Family $1,526.22 $1,806.65 $2,511.29
Geico $1,109.48 $1,376.86 $1,644.18
Progressive $1,489.99 $1,869.58 $2,612.03
State Farm $1,428.50 $1,764.32 $2,727.26

Car insurance discounts in Colorado

There are a number of available discounts from insurance providers in Colorado, but they will vary from agency to agency. A common discount is a multi-policy discount. This is when you have more than one type of insurance with a provider, such as homeowners and car insurance, or renter’s and car insurance. If you’re switching insurance companies, be sure to ask if they offer a transfer discount. You may be able to save money just by switching companies.

State minimum insurance requirements in Colorado

One of the main components of what makes up the price of your car insurance Colorado is the coverage limits for your insurance. This will vary depending on what the coverage is for. According to the Colorado General Assembly, the minimum coverage limits for liability insurance, which provides coverage for bodily injury and property damage, are:

  • $25,000 for bodily injury or death to any one person in an accident
  • $50,000 for bodily injury or death to all persons in any one accident
  • $15,000 for property damage in any one accident

Bodily injury means that you have injured someone in an accident, injured a pedestrian, or someone was injured in your car in an accident. Property damage counts as any damage to another person’s property in an accident that you caused. Both of these are required by law, and it’s a good idea to have more than the minimum so you don’t have to pay out of pocket for accidents.

Keep in mind that your car lender may have different requirements for your insurance coverage, so check with them before purchasing to make sure you get the appropriate coverage limits and deductibles.

Frequently asked questions

What is the cheapest car insurance in Colorado?

This is going to vary depending on your vehicle, miles driven each year, and your personal information. Geico offers some of the lowest available insurance services we reviewed, so we recommend starting there. Be sure to get at least 3 quotes so you can accurately compare services and coverage limits.

What do I need to get car insurance in Colorado?

In order to get car insurance Colorado, you’ll need a few things to make the process happen quickly. This includes your VIN and license plate number, current mileage and mileage driven every year, personal information and current coverage limits or minimum required by your lender.

How quickly can I get car insurance in Colorado?

If you have all of your documentation together and you have no problems with your driving record, you may be able to get coverage as soon as the next business day! Get a quote with a few reputable lenders to see how soon they can offer you coverage.

What if I don’t have insurance right now?

If you don’t have insurance right now, you should still be able to get insurance as it’s required by the state. You may pay more for your coverage though, so try to maintain your car insurance coverage without letting it lapse.