Denver drivers pay an average of $2,239 annually for full coverage car insurance, which works out to roughly $187 a month. The average cost of minimum coverage is $573 per year. The city’s full coverage rate is higher than the national average of $2,014 per year, but depending on your personal rating factors, you may pay less or more than that. Our insurance editorial team assessed the companies writing policies in Denver and determined that Geico, USAA, Colorado Farm Bureau, Nationwide and State Farm are among the best cheap carriers in the city.


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Best cheap car insurance companies in Denver

The three companies writing some of the cheapest car insurance in Denver are Geico, USAA and Colorado Farm Bureau based on average rate data provided by Quadrant Information Services. These and a few other insurance companies in Denver — notably Nationwide and State Farm — have average full and minimum coverage rates that fall below the city average.

Our insurance team, which includes licensed property and casualty agents, compared average rates, coverage options, discounts, digital tools and third-party ratings to assign each company a Bankrate Score. This score may help drivers find the best policy for their own needs based on their priorities. Some key third-party metrics we looked at include the 2023 J.D. Power Auto Insurance Study and financial strength ratings from AM Best.

Insurance company Bankrate Score J.D. Power score (Southwest region) Avg. annual premium for full coverage Avg. annual premium for min. coverage
Geico 4.4 804/1,000 $1,106 $278
USAA 4.2 879/1,000 $1,499 $339
Colorado Farm Bureau Not scored Not scored $1,524 $323
Nationwide 4.0 Not scored $1,693 $530
State Farm 4.3 835/1,000 $1,702 $479


In addition to offering some of the lowest average rates in Denver, drivers on a budget may save with Geico’s long list of potential discounts. Savings opportunities may be available for military service, bundling, enrolling in the DriveEasy telematics program and more. Although Geico doesn’t have as many endorsements as some other competitors, it does advertise emergency roadside service, rental car reimbursement and mechanical breakdown insurance. Plus, its robust digital tools may appeal to drivers who prefer to manage their auto insurance virtually. However, Geico scored below the segment average for customer satisfaction in the Southwest region of J.D. Power’s study, which suggests that customers aren’t satisfied with Geico’s customer service in the Southwest region.

Learn more: Geico Insurance review


If you’re a military member stationed at the Buckley Air Force Base, USAA may be the best cheap car insurance company for you. USAA only writes policies for active-duty military members, veterans and their eligible families and offers coverage options and discounts that tailor specifically to the needs of military members. These include potential discounts for garaging a vehicle on base and savings if your parents are insured with USAA. Although USAA is not technically eligible for ranking with J.D. Power, it did earn the highest customer satisfaction score in the Southwest region. USAA does not have local agents available for in-person service, so it may not appeal to drivers who prefer working face-to-face with an agent.

Learn more: USAA Insurance review

Colorado Farm Bureau

Colorado Farm Bureau has been writing policies for Denver drivers since 1950, so
it may have extensive feet-on-the-ground knowledge of the needs of Colorado drivers. Policies include the basic coverage types necessary to drive in the Centennial State, as well as some potential add-ons like rental expense coverage and equipment buyback coverage. The company is not rated by J.D. Power for customer satisfaction, and its list of advertised endorsements and discounts is fairly limited, but the Farm Bureau is also a regional carrier with limited digital tools, so speaking with a local agent may be a better way to learn about coverage options.

Learn more: Farm Bureau Insurance review


Nationwide may be a suitable carrier for drivers who want to customize their policy with unique add-ons. Nationwide may offer classic car coverage, accident forgiveness and vanishing deductible options. Although its average rates are not the cheapest on our list, policyholders may save with 10 potential discounts, including two telematics programs, good student savings and a defensive driving discount. Nationwide scored below average in the Southwest region of the J.D. Power study, so you may want to speak with existing customers about their experience before buying a policy.

Learn more: Nationwide Insurance review 

State Farm

State Farm may be the best car insurance company for Denver drivers looking for a bit of everything. The carrier offers robust digital tools for virtual policy management and over 50 local agents in the city. This may be part of the reason the carrier earned the top slot in the Southwest region of the J.D. Power study. State Farm offers a fairly standard list of discounts and endorsements, including two telematics programs and potential add-ons like emergency roadside assistance and ridesharing coverage. Gap insurance is not available from State Farm, so if you have a new car that you loan or lease, the carrier might not be the best option for you.

Learn more: State Farm Insurance review

How to get and keep the cheapest car insurance in Denver

Although Denver’s average car insurance rates are higher than Colorado’s state average, you may still be able to find cheap car insurance with a little bit of work. You may want to start by getting several quotes for Denver from a range of cheap car insurance companies to see which might give you the best price for your circumstances. For additional savings, you could consider these strategies:

  • Look for relevant discounts: Almost all insurers offer at least a few discounts, and many of them may be easy to earn. Speaking with an agent during the quoting process may help ensure you’re taking advantage of all potential discounts you may be eligible for.
  • Maintain a clean driving record: Your insurer is in the business of risk, and safer drivers are typically rewarded with lower car insurance rates. Avoiding speeding tickets, accidents and other violations may help you secure lower rates and keep them over time.

Frequently asked questions

    • There are dozens of auto insurance companies writing policies in Denver, but the best car insurance company may vary based on each driver’s unique circumstances. Factors like your vehicle type, age, driving record and credit history all impact your rates in Colorado, so comparing quotes from various companies may be the best way to find the cheapest company for the coverage options you need. Since your personal factors and driving record change over time, don’t forget to compare new quotes at renewal time.
    • Drivers in the Centennial State’s capital pay an average of $2,239 per year for full coverage, which breaks down to $187 per month. This is higher than the Colorado state average of $2,121 per year or $177 per month. Remember that if you have a minimum-coverage policy, you’ll typically pay less. Plus, your exact rates will vary based on your personal factors and driving record.
    • The cheapest provider for you depends on your personal factors. To help make your search easier, Bankrate’s editorial team assessed and gathered the most affordable car insurance in Colorado. Remember to also consider coverage options and customer service to ensure you get a policy that meets your various needs, along with your budget.
    • The average cost of car insurance in Denver is more expensive than the state and national average. Denver is a congested metropolitan area, and more cars on the road may mean more accidents, leading insurance companies to charge higher rates to compensate for the added risk. Large cities may also have higher theft and vandalism rates, which could also lead to higher rates. Lastly, Denver experiences severe winter storms, which may lead to more accidents and instances of damage that could drive up average costs in the city.
    • Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.These are sample rates and should only be used for comparative purposes.
    • Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.
      • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
      • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
      • Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.