In Colorado, the average annual cost for full coverage car insurance is $1,430, while state minimum coverage is $624. These rates are $134 and $29 more expensive, respectively, than the national average.
Average Cost of Car Insurance in Colorado
Updated: December 27, 2024
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Key Takeaways
Drivers in the Centennial State pay about 10% more for full coverage car insurance than the national average.
They also spend roughly 5% more on minimum coverage compared to the national average.
The average car insurance cost here is $1,430 for full coverage and $624 for minimum coverage, making it one of the pricier states.
How Much Is Car Insurance in Colorado?
| Full Coverage | $1,430 | $1,296 | 10% |
| State Minimum Liability Only | $624 | $595 | 5% |
Read More: Average Cost of Car Insurance
Colorado Car Insurance Rates by Coverage Level
Your choice of coverage level directly influences your car insurance rate in the Centennial State. Opting for higher liability limits and full coverage can raise your rate, while a higher deductible may reduce your premium. Below are the average costs for state minimum and full coverage in Colorado reflecting various deductibles and liability limits.
| 300/500/300 | Full Coverage | $1,775 | $500 |
| 100/300/100 | Full Coverage | $1,609 | $0 |
| 300/500/300 | Full Coverage | $1,597 | $1,000 |
| 300/500/300 | Full Coverage | $1,521 | $1,500 |
| State Minimum | Full Coverage | $1,475 | $500 |
| 100/300/100 | Full Coverage | $1,430 | $1,000 |
| 100/300/100 | Full Coverage | $1,354 | $1,500 |
| State Minimum | Full Coverage | $1,296 | $1,000 |
| State Minimum | Full Coverage | $1,220 | $1,500 |
| 300/500/300 | Liability Only | $925 | $0 |
| 100/300/100 | Liability Only | $758 | $0 |
| State Minimum | Liability Only | $624 | $0 |
Read More: Liability vs. Full Coverage Car Insurance
Average Colorado Car Insurance Cost by City
Car insurance costs in Colorado can change due to crime, traffic, and weather. For example, Denver's annual full coverage is $1,142, more than Colorado Springs at $1,014, and Aurora at $1,103. Check the table below for a detailed comparison with the Centennial State's average.
| Arvada | $975 | -49% | $451 | -59% |
| Aurora | $1,103 | -42% | $509 | -54% |
| Boulder | $895 | -53% | $419 | -62% |
| Centennial | $1,009 | -47% | $478 | -56% |
| Colorado Springs | $1,014 | -47% | $438 | -60% |
| Denver | $1,142 | -40% | $518 | -53% |
| Fort Collins | $857 | -55% | $384 | -65% |
| Greeley | $886 | -54% | $380 | -65% |
| Highlands Ranch | $983 | -48% | $454 | -59% |
| Lakewood | $1,045 | -45% | $468 | -57% |
| Pueblo | $1,063 | -44% | $437 | -60% |
| Thornton | $1,019 | -47% | $483 | -56% |
| Westminster | $981 | -49% | $458 | -58% |
Average Colorado Car Insurance Cost by Age
In Colorado, age plays a big role in car insurance costs, with younger drivers seeing higher rates due to their high-risk profile. On average, 25-year-olds pay 28% more for state minimum coverage and 28% more for full coverage than 40-year-olds, and 21% and 30% more, respectively, compared to 65-year-olds.
| 25 | $1,833 | $796 |
| 40 | $1,430 | $624 |
| 65 | $1,408 | $656 |
Although age is a factor in car insurance costs to varying degrees in most U.S. states, Massachusetts and Hawaii do not allow age as a rating factor.
Car Insurance Costs in Colorado for Young Drivers by Gender
Young drivers in Colorado see higher car insurance costs due to greater accident risk. On average, 18 to 25-year-olds pay $1,940 annually when added to a family policy, which is 24% less than an individual policy at $2,418.
Gender also influences rates for these young Colorado residents. Females in this age group pay $2,299 per year, saving 21% compared to males who pay $2,537. Below, find the average car insurance costs for individual and family policies, detailed by gender.
Car Insurance Costs in Colorado for Young Females
In Colorado, an 18-year-old female driver pays about $2,091 for full coverage on a family policy. If she chooses an individual policy, her cost jumps to $4,382, more than doubling the expense.
| 18 | $4,382 | $2,091 | -52% |
| 19 | $2,820 | $2,269 | -20% |
| 20 | $2,556 | $2,059 | -19% |
| 21 | $1,964 | $1,574 | -20% |
| 22 | $1,830 | $1,974 | 8% |
| 23 | $1,704 | $1,845 | 8% |
| 24 | $1,635 | $1,772 | 8% |
| 25 | $1,498 | $1,656 | 11% |
Car Insurance Costs in Colorado for Young Males
An 18-year-old male in Colorado pays about $4,906 for full coverage car insurance individually. Joining a family policy drops the cost to $2,222, saving 55% annually.
| 18 | $4,906 | $2,222 | -55% |
| 19 | $3,218 | $2,372 | -26% |
| 20 | $2,873 | $2,125 | -26% |
| 21 | $2,192 | $1,603 | -27% |
| 22 | $2,010 | $2,094 | 4% |
| 23 | $1,831 | $1,915 | 5% |
| 24 | $1,725 | $1,808 | 5% |
| 25 | $1,542 | $1,659 | 8% |
Average Colorado Car Insurance Cost by Driving Record
In Colorado, traffic offenses can hike your car insurance premiums by up to 24%. We've compared the average rate for drivers with at-fault accidents, speeding tickets and DUIs to those with a clean slate.
| At-Fault Accident | $2,142 | 12% | $963 | -12% |
| DUI | $2,362 | 24% | $1,076 | -2% |
| Ticket | $1,845 | -3% | $814 | -26% |
Read More: High-Risk Car Insurance in Colorado
Average Colorado Car Insurance Cost by Credit Score
In Colorado, your credit-based insurance score plays a big role in your car insurance costs. Drivers with excellent credit may pay around $965 a year for full coverage, while those with poor credit could be looking at about $2,091 annually.
| Excellent | $965 | -49% | $330 | -70% |
| Good | $1,178 | -38% | $398 | -64% |
| Fair | $1,443 | -24% | $485 | -56% |
| Below Fair | $1,714 | -10% | $577 | -47% |
| Poor | $2,091 | 10% | $659 | -40% |
CREDIT SCORES AND YOUR PREMIUM
A credit score from 670 to 739 shows financial reliability, potentially lowering insurance rates for Colorado drivers. However, insurers in Hawaii, Massachusetts, Maryland, California and Michigan cannot use credit scores in pricing. In states like North Carolina, Oregon, Washington, Utah and Nevada, credit scores are only considered under specific circumstances.
Average Colorado Car Insurance Cost by Company
Car insurance premiums can vary a lot from one company to another. In Colorado, American National P&C offers the most affordable full coverage at $817 a year. On the high end, Farmers Union Insurance's average is $2,180, which is 40% more than the state's average.
| American National P&C | $817 | $311 |
| GEICO | $1,004 | $382 |
| Auto-Owners Insurance Co | $1,220 | $562 |
| American Family | $1,237 | $499 |
| Progressive | $1,256 | $439 |
| Acuity | $1,330 | $554 |
| Colorado Farm Bureau | $1,330 | $433 |
| Allstate | $1,515 | $948 |
| State Farm | $1,533 | $580 |
| Farmers | $1,586 | $745 |
| Kemper | $1,695 | $685 |
| Nationwide | $1,891 | $956 |
| Farmers Union Insurance | $2,180 | $1,019 |
Read More: Cheapest Car Insurance Companies in Colorado
Average Colorado Car Insurance Cost by Vehicle Age
In Colorado, newer cars often come with higher insurance premiums due to their value and costs to repair or replace if stolen. On average, full coverage for a new model runs about $1,291 annually, while a 10-year-old car is about $1,012.
| 10-Year-Old Vehicle | $1,012 | $469 |
| New Model Vehicle | $1,291 | $444 |
ACTUAL CASH VALUE
The actual cash value (ACV) of your car is its assessed worth by your insurer right before the damage. For comprehensive or collision claims, the ACV is used to determine the maximum payout after deducting any applicable deductible. This ensures the claim is aligned with the car's fair market value.
Read More: Used Car Insurance
Colorado Car Insurance Rates Explained
Below, we compare Colorado car insurance rates to the national average, explain why average costs tend to be expensive in this state and look at several factors that determine the costs of full coverage and minimum liability premiums.
Is Car Insurance Expensive in Colorado?
Car insurance in Colorado leans more towards the pricey side, with average full coverage costs at $119 monthly. It's about 10% higher than the national average for similar coverage.
Read More: Why Car Insurance is So Expensive
Car Insurance Costs in Colorado vs. National Average
National Average Cost
Full Coverage Car Insurance
$108
Colorado Average Cost
Full Coverage Car Insurance
$119CO Car Insurance Is Expensive:$11 more
This is 10% more expensive.
Why Are Car Insurance Rates Expensive in Colorado?
Car insurance in Colorado can be expensive because of tough weather, high population density and strict laws. These factors lead to more insurance claims, which drives up the price. Finding an affordable plan is key for Colorado residents.
Read More: Car Insurance Rates by State
Estimating Your Car Insurance Costs in Colorado
While average car insurance rates in Colorado reflect overall trends, your personal cost will vary. Consider your driving record, car model, and coverage choices for a more accurate estimate. Stay informed and choose a plan that balances affordability with your needs.
Driving Record
A spotless driving record can lead to lower insurance rates, as insurers view you as a lower risk. Avoid traffic violations and accidents to keep premiums affordable.
Age and Gender
Younger drivers and males typically face higher rates. If you're in these groups, focus on safe driving and ask about discounts for good students or defensive driving courses.
Credit History
Insurers often use credit scores to determine rates. Work on improving your credit by paying bills on time and reducing debt to potentially lower your insurance costs.
Vehicle Type
The type of vehicle you drive impacts insurance rates. Opt for a car with a strong safety record and lower theft rates to enjoy more affordable premiums.
Location
Living in areas with lower accident and theft rates can reduce insurance costs. Compare rates based on your Colorado location to find the best deals.
Coverage Level
Tailoring your coverage to your needs can save money. Don't overinsure, but ensure you have enough coverage to protect yourself in case of an accident.
Marital Status
Married drivers often receive lower rates due to perceived stability. If you're married, make sure to inform your insurer to potentially benefit from reduced premiums.
State Law
Colorado's insurance requirements can affect rates. Ensure you have at least the minimum required coverage and understand how local laws may influence your insurance costs.
Read More: Colorado Car Insurance Calculator
Minimum Car Insurance in Colorado
In Colorado, the average annual rate for state minimum auto insurance is $624, just over the national average of $595. This minimum coverage is more affordable than opting for full coverage due to Colorado's set limits. Below is a table detailing these minimum requirements.
Colorado Car Insurance Requirements
In Colorado, you need minimum coverage auto insurance. This includes $25,000 for bodily injury per person, $50,000 per accident and $15,000 for property damage.
Liability Limits | Description |
|---|---|
$25,000 for bodily injury liability per person | Medical expenses if you cause an accident |
$50,000 for bodily injury liability per accident | Multiple injuries in a single incident |
$15,000 for property damage liability per accident | Cost of repairss or replacement of damaged property in an accident |
How to Lower Car Insurance Costs in Colorado
- 1
Compare Multiple Quotes
Researching multiple insurance providers can help you find the cheapest car insurance in your state, potentially saving you hundreds of dollars annually.
- 2
Lower Your Risk Profile
A better credit score, along with a clean driving record without accidents or moving violations, can significantly lower insurance premiums because insurers view you as a lower risk.
- 3
Adjust Your Coverage
Reviewing coverage needs ensures you're paying only for necessary coverage. Drivers who afford higher deductibles can lower costs, and low-mileage drivers might save with usage-based policies.
- 4
Ask for Discounts
Inquire about discounts for safe driving, good grades, anti-theft devices, completing a state-approved defensive driving course, and bundling policies, as these can drastically lower premiums.
- 5
Consider the Car You Drive
Choosing a vehicle with high safety ratings and lower repair costs can reduce car insurance rates.
Auto Insurance Rates in Colorado: Bottom Line
In Colorado, the average yearly cost for full coverage car insurance is $1430, which is above the national average. Factors like your driving record and the type of car you drive impact your rates. Compared to other states, Colorado is moderately expensive for car insurance.
Colorado Car Insurance Rates: FAQ
Find out what influences car insurance costs in the Centennial State and how to secure affordable rates. Factors like your driving record, age, car model, and coverage level play a role. Compare quotes, keep a clean driving record, and consider state minimum coverage to lower costs. Learn more about factors affecting car insurance costs and discover tips for finding affordable rates.
What are the minimum car insurance requirements in Colorado?
In Colorado, the minimum car insurance requirements include $25,000 for bodily injury liability per person, $50,000 per accident and $15,000 for property damage liability.
What is the average cost of full coverage and minimum coverage auto insurance in Colorado?
The average cost for full coverage auto insurance in Colorado is $1,430, slightly above the national average of $1,296. The average rate for state minimum coverage is $624, compared to the national average of $595.
What is the average cost of car insurance for a 25-year-old in Colorado?
The average cost of full coverage car insurance for a 25-year-old in Colorado is $1,833, which is slightly below the state average. For state minimum coverage, the average is $796, about 27% less than the state norm.
What are the cheapest car insurance companies in Colorado?
American National P&C offers the most affordable car insurance in Colorado, with an annual premium of $817 for full coverage and $311 for minimum coverage. While the cheapest option can be tempting, it's crucial to balance cost with sufficient financial protection against significant losses.
Colorado Auto Insurance Cost: How We Determine Average Rates
Sample Driver Profile
We used a sample driver profile with the following attributes to determine average car insurance rates in Colorado:
- 40-year-old male
- 2012 Toyota Camry
- Clean driving record
- 12,000 miles driven annually
We modified this driver profile by age, vehicle, credit score, and driving record to determine averages for different driver profiles and needs.
Coverage Levels and Deductibles
Unless otherwise noted, average rates on this page are for a full coverage policy with comprehensive and collision coverage, a $1,000 deductible for each and the following liability limits (100/300/100):
- $100,000 in bodily injury liability per person
- $300,000 in bodily injury liability per accident
- $100,000 in property damage liability per accident
When minimum coverage is specified, we used the following minimum liability-only limits as mandated by Colorado:
- $25,000 for bodily injury liability per person
- $50,000 for bodily injury liability per accident
- $15,000 for property damage liability per accident
Learn more about MoneyGeek's car insurance methodology.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.