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Best Cheap Car Insurance In Colorado (2023)

Looking for the cheapest car insurance in Colorado? Read our review of the Centennial State's best auto insurance companies based on cost, coverage, and more.

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09/14/2023 05:35 PM

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In this review, we’ll discuss our top picks for car insurance in Colorado, their average premiums, and the Centennial State’s minimum coverage requirements. Our team compared the nation’s best car insurance companies, and we discovered that Geico and USAA offer standout coverage in Colorado.

Even though we’ve compared rates from top providers, your auto insurance costs will mainly depend on your driving record, vehicle type, and credit score. To get a better idea of what you could pay for car insurance in Colorado, compare car insurance quotes from the state’s best providers.

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Cheapest Car Insurance In Colorado

Drivers in Colorado may want to consider Geico, USAA, and State Farm, as our rate estimates show these insurers tend to offer the state’s cheapest car insurance.

Auto Insurance ProviderEstimated Annual Cost
State Farm$1,536
Southern Farm Bureau$1,568

How Much Is Car Insurance In Colorado?

Our research shows that the average cost of full-coverage car insurance in Colorado is about $1,860 per year. This is roughly 7.5 percent more than the national average of $1,730, but drivers can still expect to receive competitive rates in the Centennial State.

While Colorado auto insurance rates typically aren’t too high, your rates will depend on your:

  • Location, with higher prices near Denver and Colorado Springs
  • Vehicle type
  • Age, gender, and marital status
  • Driving history
  • Credit score
  • Chosen type of coverage

The best way to determine your rate for car insurance in Colorado is by comparing free quotes from many of the state’s leading providers. That way, you’ll be able to find out which companies offer the auto policy and pricing you’re looking for.

Cheapest Car Insurance In Colorado: Young Drivers

Drivers in their teens and early 20s often get higher rates from car insurance companies in Colorado because they have less experience behind the wheel, but that doesn’t mean drivers in this age range can’t find full coverage at affordable prices.

Cheapest Car Insurance In Colorado: 16-Year-Olds

Sixteen-year-olds can find the cheapest car insurance premiums in Colorado at Southern Farm Bureau, which has an average monthly cost of $288. Drivers this age can also find competitive coverage from State Farm and USAA.

Cheap Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
Southern Farm Bureau$288 $3,461
State Farm$369 $4,433
USAA$414 $4,962
Geico$433 $5,195
American Family Insurance$448 $5,370

Cheapest Car Insurance In Colorado: 18-Year-Olds

The cheapest car insurance in Colorado for 18-year-olds comes at roughly $218 per month on average from Southern Farm Bureau. Geico also offers affordable coverage at $247 per month.

Cheap Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
Southern Farm Bureau$218 $2,620
Geico$247 $2,958
USAA$256 $3,075
State Farm$290 $3,480
American Family Insurance$352 $4,229

Cheapest Car Insurance In Colorado: 21-Year-Olds

Twenty-one-year-old drivers in Colorado can find the cheapest car insurance from Geico at around $122 per month and from USAA at around $155 per month.

Cheap Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
Geico$122 $1,460
USAA$155 $1,865
Southern Farm Bureau$189 $2,268
State Farm$202 $2,418
Nationwide$227 $2,727

Cheapest Car Insurance In Colorado: 25-Year-Olds

In Colorado, the cheapest full-coverage car insurance for 25-year-olds comes from Geico at $96 per month. USAA comes in at $123 per month.

Cheap Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
Geico$96 $1,150
USAA$123 $1,479
State Farm$147 $1,761
Nationwide$164 $1,965
Southern Farm Bureau$166 $1,995

Cheapest Colorado Car Insurance: High-Risk Drivers

In general, those with good credit and clean driving records pay lower insurance premiums than drivers who have a history of low credit scores, speeding tickets, car accidents, or DUI convictions. The tables below show the higher full-coverage rates paid by these profile drivers in the state of Colorado.

Cheapest Colorado Car Insurance: Speeding Tickets

Colorado drivers who have gotten multiple speeding tickets in recent years can find relatively affordable full coverage from Geico at $136 per month, and from USAA at $137 per month.

Cheapest Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
Geico$136 $1,642
USAA$137 $1,653
State Farm$144 $1,738
Southern Farm Bureau$159 $1,919
Nationwide$166 $1,998

Cheapest Colorado Car Insurance: Recent Accidents

Car insurance rates are much higher than average for Colorado drivers who have been in a car accident. However, State Farm offers a fair full-coverage auto insurance policy at around $144 per month on average.

Cheapest Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
State Farm$144 $1,738
Southern Farm Bureau$165 $1,987
Geico$202 $2,430
Progressive$212 $2,539
USAA$230 $2,769

Cheapest Colorado Car Insurance: DUIs

Drivers with DUI convictions often pay very high prices. In Colorado, DUI drivers can find affordable coverage with State Farm, at $155 per month. Southern Farm Bureau also provides relatively cheap coverage at $160 per month.

Cheapest Car Insurance In ColoradoAverage Monthly CostAverage Annual Cost
State Farm$155 $1,859
Southern Farm Bureau$160 $1,919
USAA$180 $2,160
Geico$228 $2,736
Nationwide$245 $2,948

Cheapest Car Insurance In Colorado: Bad Credit

Drivers who have poor credit and need car insurance in Colorado often find outstanding rates from Geico and Nationwide.

Car Insurance Providers in Colorado Estimated Monthly Cost Estimated Annual Cost
Geico $146 $1,750
Nationwide $156 $1,866
USAA $186 $2,237
Travelers $200 $2,402
Progressive $209 $2,511

Top 5 Auto Insurance Companies In Colorado

We looked into each major car insurance provider in Colorado to discover the Centennial State’s top five options. After considering costs, coverage plans, and customer service ratings, we found that Colorado’s best choices for car insurance are Geico, USAA, Progressive, State Farm, and Nationwide.

Best Car Insurance in Colorado Overall Rating Cost Rating Coverage Rating
1. Geico 4.6 4.7 4.2
2. USAA 4.6 4.9 4.6
3. Progressive 4.3 4.4 4.4
4. State Farm 4.7 4.6 4.6
5. Nationwide 4.3 4.5 4.2

*Our research team scores car insurance companies by taking nationwide factors into account. The order of insurers in this table is specific to car insurance in Colorado.

#1 Geico: Best For Discounts

As the second-largest auto insurer in the U.S., Geico offers exceptional coverage and has a reputation for cheap car insurance policies in Colorado. The company also maintains strong financial stability, with an A++ financial strength rating from AM Best.

Geico offers standard auto insurance coverage, along with benefits and add-ons such as roadside assistance, rental car reimbursement, and mechanical breakdown insurance. There are plenty of insurance discounts to choose from with Geico, with price cuts for good drivers, students behind the wheel, and others.

Read moreGeico insurance review

#2 USAA: Best For Military Members

USAA provides some of the cheapest car insurance in Colorado for military members, veterans, and their families. The provider is known for its affordability, comprehensive coverage options, and excellent customer service. In fact, USAA scored the second-highest for customer satisfaction in the J.D. Power 2022 U.S. Insurance Shopping Study℠.

USAA offers standard car insurance coverage, plus roadside assistance, rental car reimbursement, and accident forgiveness. The insurer also offers a wide range of discounts for good drivers in Colorado. If you qualify for USAA car insurance, it would be smart to get a free quote from the company.

Read moreUSAA insurance review

#3 Progressive: Best Usage-Based Insurance

As our third pick for car insurance in Colorado, Progressive offers low rates for good drivers. The insurer stands out from others with its Name Your Price® comparison tool, which makes it easy for drivers to shop car insurance from various providers at the same time. Progressive offers several add-ons apart from standard car insurance, with choices such as rideshare coverage, roadside assistance, and gap insurance.

Read moreProgressive insurance review

#4 State Farm: Best Overall Provider

State Farm is another exceptional choice for Colorado car insurance, providing some of the state’s most affordable rates. State Farm’s industry standing is nearly impeccable, with its A++ financial strength rating from AM Best and strong performance across various J.D. Power rankings.

Colorado drivers may benefit from State Farm’s Drive Safe & SaveTM usage-based program, which can help policyholders earn up to 30 percent off their auto premiums. The Drive Safe & Save platform monitors behaviors behind the wheel and rewards customers who have clean driving records with hundreds off the price of car insurance in Colorado.

Read moreState Farm insurance review

#5 Nationwide

Nationwide offers some of the most competitive rates for car insurance in Colorado. The company provides broad coverage and holds a strong reputation, as seen by its A+ financial strength rating from AM Best and A+ score from the Better Business Bureau (BBB).

If you’re looking for ways to save on car insurance in Colorado, Nationwide offers discounts for bundling policies, being a good student, and staying accident-free. Nationwide also offers a safe-driving program called SmartRide® that can save Colorado drivers up to 40 percent on auto insurance, as well as a pay-per-mile option called SmartMiles®.

Read more: Nationwide insurance reviews

Requirements For Car Insurance In Colorado

Colorado law requires drivers to carry liability car insurance, which covers the cost of other drivers’ medical bills or property damages if you’re at fault for an accident. The minimum car insurance requirements in Colorado are:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident

Though liability insurance is the state’s basic requirement, you’ll need other types of car insurance if you’d like coverage for your medical bills or harm to property. Full-coverage car insurance in Colorado typically includes:

How To Get Car Insurance In Colorado

We found that Geico, USAA, and State Farm are the providers with the cheapest car insurance in Colorado. You’ll find both affordable rates and impressive coverage levels when you select auto coverage from these companies.

When purchasing car insurance, keep in mind that companies weigh factors such as your driving record and credit score when giving you quotes. To ensure you receive the best rate possible, compare car insurance quotes from multiple providers.

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Cheapest Car Insurance In Colorado: FAQ

Is Colorado car insurance expensive?

Colorado car insurance averages to about $1,860 per year, according to our rate estimates. This is roughly 7.5 percent more expensive than the national average, which is $1,730 per year.

How much is car insurance for a month in Colorado?

Full-coverage car insurance for one month in Colorado averages out to roughly $155 ($1,860 per year). This is for 35-year-old drivers with good credit and clean driving records. Younger drivers or drivers that have a history of traffic violations will likely pay more in Colorado car insurance.

Who has the cheapest car insurance quotes in Colorado?

We found that Geico, USAA, State Farm, Southern Farm Bureau, and Nationwide offer the cheapest premiums for full-coverage car insurance in Colorado. Geico offers the cheapest car insurance in the state, with an estimated average of $1,119 per year.

What is the minimum amount of car insurance required by Colorado?

You’re only required to carry state minimum liability insurance in Colorado: $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident, and $15,000 property damage liability per accident (25/50/25). This basic requirement may not fully protect you or your motor vehicle in the event of an accident, so we recommend purchasing 50/100/50 of liability coverage, plus comprehensive, collision, and uninsured motorist coverage.

How We Rate Insurers

Our review process aims to deliver consistent and unbiased assessments of car insurance providers. While there are multiple qualities that make a car insurance company successful, our review team focuses on those we believe are the most important for consumers:

  • Cost: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
  • Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
  • Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
  • Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer easy-to-use claims apps.

*Data accurate at time of publication.