Cheap Car Insurance in Colorado (2023)

Colorado drivers pay an average of $238 per month for car insurance — just $10 more than the national average of $228. But Centennial State motorists can find even more affordable car insurance by shopping around. 

You can easily find and compare quotes online by providing some details about your vehicle, driving record, credit score, and more. With this information ready, finding the best rates is simple.

Best cheap car insurance in Colorado: State Farm

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State Farm

Best Cheap Car Insurance in Colorado

The cost of car insurance in Colorado varies widely, with average monthly rates starting as low as $107 from State Farm and up to $523 from Amica. But the average driver pays something between those extremes, likely around the state average of $238 per month. 

The major price differences make it especially important to shop around for the most affordable rates. The table below shows average full-coverage rates and our Insurify Composite Score for top insurers in the state.

Learn More: Best Car Insurance Companies

Minimum car insurance requirements in Colorado

To drive or park your vehicle in Colorado, you’ll have to insure it for at least the state’s minimum required coverage level. You’ll also need to carry your proof of insurance in your car at all times, and show it when: 

• Law enforcement officers ask to see it

• You renew your vehicle registration

• Your car is involved in a car accident

The minimum liability insurance requirements for private passenger vehicles in Colorado are:^[1]

• $25,000 per person and $50,000 per accident for bodily injury: As a major part of your liability insurance, bodily injury coverage covers medical bills for people other than the policyholder who are injured during an accident. Colorado is an at-fault state, meaning the driver who is responsible for the collision is also responsible for paying for any resulting expenses, either through their car insurance provider or out of pocket.

• $15,000 per accident for property damage: If it’s determined that an insured driver is at fault for an accident, this coverage pays for repairs to the property of the other involved parties. Additionally, property damage coverage can cover legal costs if the insured driver is involved in a lawsuit following the accident.

Colorado DMV information

The Colorado Division of Motor Vehicles (DMV) is a government agency that handles most driving regulations.^[2] The services you can receive at the DMV include renewing your driver’s license, registering your vehicle, renewing your vehicle registration, changing your address, turning in your SR-22 form, and more.

Public transportation in Colorado

Generally speaking, most people living in or visiting Colorado will need a vehicle to efficiently travel around the state. Some public transportation is available, including the RTD network in and around Denver; the Bustang and Bustang Outlander lines; the Flatiron Flyer bus between Denver and Boulder; the FLEX regional bus route between Fort Collins and Boulder and more.

Tips for getting cheap car insurance in Colorado

Insurance companies consider your unique driver characteristics when calculating rates, including your age, credit history, marital status, and driving record. With so many factors at play, shopping around to compare car insurance quotes is the best way to lock in a good deal. You can easily compare quotes from multiple providers online to find quality insurance for you.

You can also take some additional steps to hold down car insurance costs, including:

• Choose a higher deductible. Generally, the higher your deductible amount, the lower your monthly premium. Just keep in mind that you’ll need to be able to cover the deductible amount in case you need to file a claim to repair or replace your car.

• Boost your credit score. A high credit score comes with many advantages. Improving yours could help you get lower insurance quotes, as many states allow insurers to consider credit scores when setting premiums.

• Only carry the coverage you really need. If you have an older vehicle that’s got a lower value and is paid off, you may consider simply having liability coverage. Minimum coverage is typically the cheapest you can buy. Just be aware that liability coverage won’t pay to repair or replace your vehicle in an at-fault accident.

• Consider bundling with homeowners insurance. Many insurers offer discounts for purchasing both your vehicle and homeowners insurance with them. This is called bundling.

Liability-only vs. full-coverage insurance in Colorado

Colorado drivers must carry the minimum required liability coverage. Liability-only insurance covers other drivers’ injuries and damage when you are at fault in an accident. Without the required bodily injury liability and property damage liability insurance, it’s illegal to drive on Colorado roads. 

Liability-only insurance can make sense if:

• You have a low-value vehicle.

• You can afford to repair or replace your car out of your own pocket.

• Getting the cheapest insurance possible is your top priority.

For a higher level of protection, you can choose full-coverage insurance, which includes minimum liability coverage, plus comprehensive coverage and collision coverage. Collision coverage pays for damages to your car, even if you’re at fault for an accident. Comprehensive pays for damages caused by events out of your control, like vandalism, weather, and animals. Auto lenders and leasing companies typically require drivers to carry full coverage on a car they’ve financed.

You may also opt for full coverage if:

• You have a high-value vehicle.

• You wouldn’t be able to afford to repair or replace your car out of pocket.

• Your car’s actual cash value (the payout you’d likely get if your car is totaled) exceeds your annual premium to carry full coverage.

Here’s a look at the average monthly quotes for the cheapest auto insurance in Colorado by policy type.

How your driving history affects Colorado car insurance rates

Your driving history is the factor that most influences your car insurance costs. Car insurance premiums vary depending on the factors and methodology each auto insurer considers when determining rates. Drivers with an at-fault accident, speeding ticket, or DUI on their record typically encounter higher rates than those with a clean driving record. But it’s still possible to find reasonable rates with incidents connected to your driver’s license.

Here’s a look at average monthly quotes for the cheapest car insurance in Colorado based on driving and accident history.

See More: High-Risk Car Insurance Colorado

SR-22 insurance in Colorado

If you have a DUI conviction, the state of Colorado may require you to obtain an SR-22 form from your insurance provider.^[3] The form confirms that your insurance policy complies with the minimum coverage requirements for the state. The following insurance companies offer SR-22 forms in the state of Colorado.

See More: DUI Car Insurance Colorado

Colorado car insurance quotes by credit tier 

Although Colorado state law prohibits insurance companies from denying, canceling, or failing to renew coverage based only on credit history, auto insurers still use credit when setting rates. Excellent or good credit, rather than bad credit, leads to more affordable rates in most states. But in Colorado, drivers with an excellent credit score see the most significant savings.

See More: Bad Credit Car Insurance Colorado

How your city affects Colorado insurance quotes

Where you live in the state of Colorado has a big impact on your car insurance rates, due to factors like population, crime rates, and more. Generally, drivers in big cities will have higher rates than rural drivers. Cities with the highest rates in the state include Denver, Colorado Springs, and La Salle. Find the average quote corresponding with your city in the chart below.

How your age affects your Colorado car insurance rates 

Because insurers generally equate age with experience level, your age will significantly affect how much you pay for car insurance. New drivers, who tend to be teens or people in their early 20s, typically pay more for insurance than drivers 25 and older. 

The following table gives a high-level view of how age can affect insurance rates.

Quotes for younger drivers

Multiple other factors influence how much drivers in each age group will pay for car insurance. Some increase rates for one age group more than another, while others affect all age groups evenly.

The following table compares how different insurance factors affect average monthly rates for drivers younger than 30.

Quotes for middle-aged drivers

Drivers older than 25 typically see their car insurance rates begin to fall, especially if they’ve maintained a clean driving record. However, infractions like an at-fault accident or a DUI will push rates higher. The following table provides average monthly quote information for middle-aged drivers.

Quotes for senior drivers

Senior drivers typically pay the lowest car insurance rates of any age group, although their rates do start to increase as they grow older. And a driving infraction can push senior drivers’ car insurance costs even higher. Colorado seniors find lower rates in their 60s and 70s, but often find increased rates in their 80s. Senior drivers pay more for full-coverage insurance than liability-only coverage.

The following table provides average monthly quote information for senior drivers in Colorado.

Colorado car insurance FAQs

Here are answers to some commonly asked questions about Colorado car insurance.

Insurify Insights

How Colorado Drivers Measure Up

While most drivers know that car insurance quotes are determined in part by your personal driving history, many may be unaware that rates are also impacted by the average risk of the drivers around you as well. Check out Insurify's latest analysis of driving records in Colorado below:

Methodology

Drawing from an internal database of over 4 million car insurance applications, the research team at Insurify analyzes patterns in car ownership and driver behavior - including how Colorado drivers measure up to their fellow motorists across the United States in areas including speeding, DUIs, and more.
Insurify Insights publishes data-driven articles, trend analyses, and national rankings each week on all factors related to cars and those who drive them.

Ford F-Series Pickup

Most Popular Car in Colorado

#7

State with the Most Speeding Tickets Rank

#8

State with the Moving Violations Rank

#12

State with the Most DUIs Rank

#18

State with the most Suspended Licenses

• Accidents in Colorado

  While car accidents are a sadly unavoidable feature of time spent on the road, rates of accidents do vary from city to city and from state to state. Colorado is the #15 state in the country for drivers with an at-fault accident on their driving record.

  • Rank among states: #15
  • Percent of drivers in Colorado with an accident: 9.6%
• DUIs in Colorado

  While driving while intoxicated is never acceptable, it’s a more common offense than many assume. Colorado is the #12 state in the country for drivers with a prior drunk driving conviction.

  • Rank among states: #12
  • Percent of drivers in Colorado with a DUI: 2%
• Reckless Driving in Colorado

  Reckless driving refers to a specific traffic violation: when drivers willfully act dangerously in spite of the risks they’re imposing on both themselves and others. Colorado is the #13 state in the country for drivers with a reckless driving offense on record.

  • Rank among states: #13
  • Percent of drivers in Colorado with a reckless driving offense: 1.7%
• Rude Driving in Colorado

  The Insurify team classifies rude drivers as those who commit one or more of the following driving offenses: failure to yield or failure to stop, improper backing, passing where prohibited, tailgating, street racing, or hit-and-run. Colorado is the #11 state in the country for drivers with a rude driving violation on record.

  • Rank among states: #11
  • Percent of drivers in Colorado with a rude driving violation: 2%
• Speeding in Colorado

  Exceeding the speed limit can endanger others and have a serious impact on your insurance costs. Colorado is the #7 state in the country for drivers with a speeding ticket on record.

  • Rank among states: #7
  • Percent of drivers in Colorado with a speeding ticket: 11.4%
• Failure to Yield Rates in Colorado

  Failing to yield the right of way isn’t just frustrating for other drivers; it’s dangerous, too. Colorado is the #10 state in the country for drivers with a failure to yield violation on record.

  • Rank among states: #10
  • Percent of drivers in Colorado with a failure to yield violation: 0.2%

Insurify Insights

Insurify's team of data scientists and content specialists presents Insurify Insights, a series of automotive, home, and health studies focusing on the topics that impact us all. through expert analysis of over 4 million car insurance applications and an array of top data sources, the Insurify Insights team produces new data-driven articles, trend analyses, regional superlatives, and national rankings every week. See Insurify Insights as featured in Forbes, Fox News, USA Today, NPR, and more.