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Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs. Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance. Updated Oct 21, 2022 Find cheaper car insurance A better rate is around the corner. See how much you could save in 3 minutes or less. Your information is secure Get my free quotes Select from a variety of trusted carriers + MORE How it works Caret Down Get matched with personalized offers Tell us a little about yourself so we can share accurate and personalized offers. We only ask for info we know will impact your rate. Choose the best policy for you Compare your options from carriers who want to work with you, and select as many offers as you'd like. Finalize your rate and policy details Once you pick the carrier you want, finish the process by phone with an trusted agent or entirely online. That's it! On This Page
Compare rates and save on auto insurance today! Get quotes Close X Based on Bankrate's analysis of quoted annual premiums, the average cost of full coverage car insurance in Colorado is $2,019 per year, which is slightly more expensive than the national average cost of $1,771 per year. On the other hand, the average cost of minimum coverage car insurance in Colorado is $495 per year, which is slightly lower than the national average of $545 per year. But while minimum coverage car insurance tends to come with a lower price tag on average, it isn't the only way to find cheap car insurance in Colorado. If you're looking for the in Colorado, the company that's the cheapest for you can vary based on a variety of factors, including your driving record and the type of policy you need. However, there are certain companies that offer some of the cheapest average car insurance rates in Colorado, and it may be useful to start your search by researching these companies. According to our research, the average rates for full coverage car insurance from American National, Geico and Colorado Farm Bureau are lower than the state average, and there may be other options, too. It may be helpful to start your search with the providers below, which offer some of the cheapest car insurance in Colorado, to find the one that best suits your needs. See More The cheapest car insurance companies in Colorado
Colorado drivers have a variety of options when it comes to car insurance. However, tend to be expensive in The Centennial State. The average full coverage car insurance policy in Colorado costs $2,019 per year, and the average minimum coverage policy costs $495 per year in this state. Given that the average cost of full coverage car insurance in Colorado is higher than the national average, it makes sense that many drivers are looking for a more affordable premium. To find the cheapest auto insurance companies in Colorado, Bankrate's insurance editorial team reviewed average rate data from Quadrant Information Services and assessed trusted third-party ratings from companies like J.D. Power and AM Best. This allowed us to identify some of the carriers that offer the cheapest average rates, as well as excellent financial strength ratings and high customer satisfaction scores. Based on our evaluation, we identified several providers that stand out for offering cheap car insurance in Colorado. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto with quotes from trusted providers like: Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto with quotes from trusted providers like: Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Discover the best carrier for you
Get custom car insurance quotes from top-rated carriers in 3 minutes or less. The cheapest companies for minimum coverage in Colorado
is a requirement for every driver in Colorado. Minimum coverage policies tend to be the cheapest, but they offer the least amount of coverage and may not offer you the level of financial protection you need. If you are interested in purchasing a minimum coverage policy, here are the five cheapest car insurance companies in Colorado based on Bankrate's research: Car insurance company Average annual minimum coverage premium Average monthly minimum coverage premium American National $212 $18 Colorado Farm Bureau $275 $23 $294 $24 $309 $26 $418 $35 The cheapest companies for full coverage in Colorado
Full coverage policies include liability insurance and collision and comprehensive coverage. Policies with full coverage offer significantly more financial protection than minimum coverage since they include coverage for damage to your own vehicle as well, though the added financial protection will come at a higher cost. We identified five cheap car insurance companies that offer affordable full coverage premiums in Colorado: Car insurance company Average annual full coverage premium Average monthly full coverage premium American National $915 $76 Geico $1,051 $88 USAA $1,313 $109 Colorado Farm Bureau $1,413 $118 Depositors Insurance $1,472 $123 Events that can impact your cheap rates in Colorado
There are a variety of factors that can impact your auto insurance premium. Additionally, certain situations can cause your rate to increase. Here are some of the most common events that may lead to a higher premium: : If you add a teen driver to your car insurance policy, your rate will almost certainly increase. This is because teen drivers aged 16-19 are inexperienced and are as drivers aged 20 and older. To offset the higher rate, many car insurance companies offer discounts for young drivers, like savings for earning good grades in high school and college. Also, keep in mind that your rate will generally gradually decrease as the teen gets older and gains more experience behind the wheel. : Your motor vehicle record has a big impact on your car insurance rate. If you receive a traffic violation, like a speeding ticket, you will probably see a rate increase when your policy renews. In most cases, a speeding ticket will negatively affect your car insurance premium for three years, according to the Triple-I. : Unless you have accident forgiveness included in your coverage, expect an at-fault accident to impact the cost of your car insurance. Generally speaking, your auto insurance rate will be affected for up to five years after an accident. The rate increase can also be based on the severity of the accident and the extent of loss costs incurred. : High-risk drivers usually pay the highest car insurance rates because they are risky to insure and are more likely to have claims. This includes drivers who have been , caused multiple accidents, have a low (in states that permit credit as a rating factor) or have been caught . Shopping for cheap car insurance as a high-risk driver may be more difficult because it is possible that some insurance companies will not insure you due to eligibility requirements. Cheapest cities in Colorado for minimum coverage
One of the biggest factors that will impact your car insurance rate in Colorado is where you live, and more specifically, your ZIP code. Even if you move within Colorado, consider shopping around for insurance because you may find that a different company can give you a cheaper rate in your new area. The table below highlights the cheapest cities for car insurance in Colorado for minimum coverage. You can compare these averages against the to get an idea of what you might pay in larger Colorado cities and metro areas. City Average annual minimum coverage premium Average monthly minimum coverage premium Redvale $350 $29 Nucla $351 $29 Bedrock $353 $29 Montrose $353 $29 Cheapest cities in Colorado for full coverage
Full coverage premiums differ between cities due to the cost of living, cost of car repairs, theft rate and accident rate, among other local factors. Bankrate compiled a list of the cheapest cities in Colorado for full coverage car insurance in the table below: City Average annual full coverage premium Average monthly full coverage premium Grand Junction $1,575 $131 Fruita $1,578 $132 Mack $1,585 $132 Loma $1,601 $133 Minimum coverage requirements for Colorado drivers
Every Colorado driver must carry at least a minimum amount of car insurance. The includes: $25,000 in bodily injury liability coverage per person $50,000 in bodily injury liability coverage per accident $15,000 in property damage liability coverage per accident Although drivers in Colorado are required to carry policies with at least the state minimum coverage, many insurance experts will recommend that drivers consider purchasing higher limits of liability insurance for more financial protection. If you lease or finance your vehicle, a full coverage policy with comprehensive and collision coverage may be required by your lender. While full coverage car insurance is generally more expensive than minimum coverage, you can shop around and compare full coverage quotes to help you find the lowest premium. Here is how to find and keep cheap car insurance in Colorado
The average rate of car insurance in Colorado is higher than the national average, making it understandable why many prioritize finding an affordable rate. But even after you’ve found a cheap car insurance policy, the premium won’t stay the same forever. It’s possible for car insurance rates to fluctuate depending on external factors like crash statistics in your area, accident rates and even inflation. Any unsafe driving habits resulting in a ticket conviction or at-fault accident could also affect your car insurance premium. Below are some tips to help you find and keep cheap car insurance in Colorado: Shop around: All car insurance providers have their own methods for calculating car insurance rates. This means that your quoted premiums may differ with each company, even if the other factors — such as policy coverage options and limits, vehicles and drivers — are the same. Discount opportunities can also vary by company, so it may be beneficial to request quotes, including any discounts you qualify for, from multiple companies to see which offers the cheapest rates for the coverage you need. Maintain a clean driving record: Individuals with clean driving records usually pay the lowest rates, as any infractions or at-fault accidents have the potential to add a surcharge to your policy. Additionally, many discounts are based on a clean driving record, such as a good driver discount, which typically requires drivers to be incident-free for a certain number of years. If you already pay a low rate, aim to avoid accidents and traffic violations, and practice safe driving habits to help keep your rate affordable. Frequently asked questions
The will typically vary for every driver. What the best company is for you will depend on numerous factors, including what coverage is necessary for your risk level, your budget, your location and what you value most in a company. To find the best car insurance carrier for you, it may be helpful to determine the coverage types and limits you need as well as what company-specific factors are important, such as solid financials or highly rated customer service. Once you've determined what factors matter to your insurance needs, it can be helpful to research multiple auto insurance companies to find the right fits and then request quotes from the companies on your list.
There are a number of ways to lower your car insurance premium in Colorado. If you already have auto insurance, it could be useful to evaluate your company's discount opportunities to ensure you've taken advantage of all eligible discounts. You can also review your policy selections and coverage limits, including your deductible, to make sure you're not paying for unnecessary coverage. If looking for a new car insurance company, one of the ways to find the cheapest car insurance options is to and explore what other options may be available to you.
As a general rule, car insurance rates decrease as you get older. This is because older drivers have more experience than newly licensed drivers. However, keep in mind that your rate will always be dependent on factors other than age or driving experience alone, like your location, insurance score, make and model of your vehicle, and your claims history. Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 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 coverage that meets each state’s requirements. Our base profile drivers own a 2020 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. Frequently asked questions
Written by Elizabeth Rivelli Insurance Contributor Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs. Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.