The best cheap car insurance in Colorado

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Table of Contents: Masthead Sticky
In Colorado, USAA and GEICO generally offer the best cheap car insurance.
Several factors can influence the amount you’ll pay to maintain coverage, including your driving history and credit score.
It’s important to shop around to see which company will offer you the most coverage for your money.
Check out our partner Savvy – a free tool that lets you compare car insurance quotes in minutes »

According to the Insurance Information Institute, the average driver in Colorado will pay $935 for coverage each year. That’s exactly the national average for car insurance premiums, putting Colorado right in the middle when it comes to insurance costs.

Car insurance companies consider your location, age, gender, and driving record to calculate rates for premiums. Other factors like credit score, marital status, vehicle type, previous coverage, and miles driven can all play a role in the amount you’ll pay for coverage.

Every insurance company will price a driver differently, and that’s why it’s so important to shop around for auto insurance. Here are a few companies offering the most affordable car insurance in Colorado.

Minimum car liability insurance requirements in Colorado

Liability coverage is required by law. If you’re involved in an accident, liability insurance covers damage you cause to the other vehicle, driver, and its passengers. If you finance or lease your car, your lender probably requires comprehensive and collision coverage.

The two main components of liability insurance are bodily injury and property damage, which most states require. Liability insurance also includes uninsured motorist and underinsured motorist coverage, to protect you when an at-fault driver hits you and they have no coverage, or not enough coverage.

Colorado requires bodily and property coverage, according to the Insurance Information Institute. Colorado’s minimum liability requirements are 25/50/15, which means up to $25,000 of injury protection for each person involved in an accident, up to $50,000 worth of injuries per incident, and up to $15,000 of property damages per incident.

Types of liability coverageDefinitionBodily injury (BI)Injury you cause to others, includes medical expenses, lost wages, and funeral expensesProperty damage (PD)Damage you cause to others’ vehicle or propertyUninsured motorist (UM)Protects you when an at-fault driver hits you with no insuranceUnderinsured motorist (UIM)Protects you when an at-fault driver hits you with not enough coverage

The best cheap car insurance in Colorado based on credit scores

Consumer Reports compiled information on car insurance pricing formulas by each company and for each state, and then calculated the premium for a single adult driver according to three credit levels. Here are the three best companies for a Colorado driver in three different credit levels.

Excellent credit (FICO 800+)Good credit (FICO 670-739)Poor credit (FICO 300-579)USAA: $641 per yearGEICO: $800 per yearFarmers: $987 per yearUSAA: $857 per yearGEICO: $939 per yearFarmers: $1,193 per yearGEICO: $1,365 per year American Family: $2,169 per yearState Farm: $2,277 per year

The best car insurance for drivers with a clean record

For a driver in Colorado age 25 or older with no accidents and one vehicle, the following companies provide the best average rates:

CompanyAverage monthly insurance premiumRoot$104State Farm$128Bristol West$130Progressive$141GEICO$148Liberty Mutual$162Esurance$165USAA*$171Travelers$178Allstate$179American Family$247

*USAA is only for active military, veterans, and their families.

Above data obtained from Savvy, based on 2,062 policyholders in the state of Colorado

Best car insurance for one or more accidents on record

For a driver in Colorado age 25 or older, with one or more accidents and one vehicle, the following companies provide the best average rates:

CompanyAverage monthly insurance premiumState Farm$87Esurance$147GEICO$148Progressive$161Farmers$171Allstate$188Bristol West$192

Above data obtained from Savvy, based on 2,062 policyholders in the state of Colorado

Average premiums for seniors and teen drivers in Colorado

The table below shows the average senior and teen drivers can expect to pay in Colorado. Because teen drivers are new drivers with little driving history and more prone to accidents, their rates are high. Most insurance companies offer discounts to teen drivers for good grades or taking driving safety classes.

Senior drivers typically see an uptick in car insurance premiums as they age, but not as much of an increase as new or teen drivers. If you’re still driving in your 60s and 70s, there are ways to negotiate cheaper auto insurance rates, like pay-per-mile usage.

Average premium for seniors Average premium for teens$1,875 per year$3,953 per year

Data provided by Goosehead Insurance

Colorado car insurance rates by metro area

Below is the estimated average annual premium of auto insurance policies per household in Colorado’s metro areas:

Metro areaAverage annual insurance premiumDenver-Aurora-Lakewood$1,416Colorado Springs$1,371Fort Collins$1,378Boulder$1,418Greeley$1,371Pueblo$1,270Grand Junction$1,219Glenwood Springs$1,373Durango$1,316Edwards$1,456Cañon City$1,240Montrose$1,224Breckenridge$1,402Fort Morgan$1,287Steamboat Springs$1,361Sterling$1,206Craig$1,289

Data from S&P Global Market Intelligence

The best car insurance in Colorado based on customer satisfaction

Customer satisfaction with car insurance providers may factor into your decision. According to J.D. Power, a consumer research company that surveys customers, these are the top car insurance companies in the Southwest region (which includes Colorado):

American Family & GEICO (tie)AllstateThe HartfordRegion AverageState FarmFarmers InsuranceLiberty Mutual SafecoCSAA InsuranceTravelersProgressiveNationwide

The most popular car insurance companies in Colorado based on market share

The following are the most popular car insurance companies in Colorado, based on the percentage of insured Colorado drivers who use them:

CompanyMarket share (%)State Farm 17.29Progressive 11.47USAA*10.52GEICO9.51Allstate Corp9.41Liberty Mutual 7.90American Family 7.90Farmers 6.55Travelers3.25Nationwide2.05Sentry1.32The Hartford 1.05Auto-Owners Insurance0.93CSAA Insurance0.92Loya Insurance0.88Shelter Insurance 0.86Southern Farm Bureau Casualty 0.67COUNTRY Financial 0.65MetLife 0.64American National 0.63

*USAA is only for active military, veterans, and their families.

Data from S&P Global Market Intelligence

Who gets the best cheap car insurance in Colorado?

Generally, those who have the best credit scores are going to get the cheapest prices. Checking your credit score before you start searching for a new insurance policy and working to increase your credit score could save you money. But, there are many other factors that go into what you’ll pay to maintain coverage, also called a premium. You might find that your driving record, gender, and even where you live within Colorado will influence your premium.

That said, the person who gets the best rate for their car insurance is going to be the person who shops around. Every insurance company will look at those factors differently, and will price your premium accordingly. It’s worth checking with several companies to make sure you’re getting the best rate possible.

When you’re shopping for insurance, make sure to look past the premium, too. You’ll want to compare your quotes, looking for the policy that gives you the most coverage and the highest limits for your money. And, consider the deductible, or the amount you’ll pay out of pocket if you get into an accident. Generally, lower-cost policies have higher deductibles, meaning you’ll pay more if you get into an accident.

Colorado drivers who shop around are the most likely to find the insurance policy with the best price for them, no matter their driving history or credit score.

Related Content Module: Best Auto Insurance by State

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