Cheapest Car Insurance in Colorado

Colorado Farm Bureau offers the most affordable car insurance for Colorado drivers at $24 monthly and $284 annually for minimum coverage. The rate is a $325 savings compared to the state's average. These rates, sourced from Quadrant Information Services, represent the cheapest options available in Colorado as of December 2024. Read our research methodology to learn about how we found the cheapest Colorado car insurance.

Colorado Farm Bureau is the cheapest car insurance company for most drivers in the Centennial State, with an average monthly rate of $43 for both state minimum and full coverage. This is much lower than the state average of $83. Other affordable options include American National P&C, GEICO, Progressive and American Family.

We used combined minimum and full coverage rates for a 40-year-old driver with good credit and no driving violations to calculate these averages.

Colorado Farm Bureau offers the most affordable car insurance for both minimum and full coverage for many drivers in the Centennial State. However, your cheapest rate depends on your background. Check the table below for the best rates for different drivers.

Read More: Cheapest Car Insurance

Along with the cheapest rate offered by Colorado Farm Bureau, American National P&C, GEICO and Progressive also offer cheap minimum liability coverage for drivers in the Centennial State. Use the table below to explore rates for these companies and see how they compare to the monthly state average.

Colorado Farm Bureau is the cheapest provider for full coverage auto insurance, with rates averaging $62 per month or $743 per year — $53 less than the state's average. Check the table below for other provider options.

In Colorado, young adult drivers find American National P&C the most affordable. A 25-year-old pays just $31 monthly for state minimum coverage.

We used minimum coverage for a 25-year-old driver with good credit and no driving violations to determine the cheapest provider.

For young drivers seeking affordable auto insurance in the Centennial State, American National P&C and GEICO offer competitive rates. While premiums can vary based on driving records and other factors, these companies provide a good starting point. American National P&C offers minimum coverage starting at $31 monthly, while GEICO is a strong choice for those with bad credit at $49.

Read More: Cheapest Car Insurance for Young Drivers

American National P&C offers the lowest rates for senior drivers. The minimum coverage costs $30 on average monthly.

We used minimum coverage for a 65-year-old driver with good credit and no driving violations to determine the cheapest provider.

For affordable rates in the Centennial State, consider American National P&C for minimum coverage at $30 monthly and full coverage at $66. GEICO is a good choice for those with bad credit at $49. Remember, your quote might differ, but the table below can help you compare options.

Read More: Cheapest Car Insurance for Seniors

Drivers in Colorado with a DUI, at-fault accident or speeding ticket are seen as high-risk by insurers and face higher car insurance costs than those with a clean record. Depending on the offense, average premiums vary for high-risk drivers. Below are the best rates for drivers with these offenses.

Colorado Farm Bureau offers the best rates for Colorado drivers with DUIs, averaging $35 per month ($421 per year) for minimum coverage insurance. Check the table below for a list of insurance providers and their average monthly premiums for drivers with DUIs in Colorado.

We used a 40-year-old driver with good credit and a DUI on record to calculate these averages.

With rates averaging $30 per month ($359 per year), Colorado Farm Bureau is the cheapest company for drivers after an at-fault accident. The table below shows other insurers offering affordable minimum coverage for drivers with accidents.

We used a 40-year-old driver with good credit and an at-fault accident on record to calculate these averages.

American National P&C offers the most affordable insurance for drivers with speeding tickets at $31 monthly. Check the table below to compare state minimum coverage options for drivers with this offense.

We used a 40-year-old driver with good credit and a speeding ticket on record to calculate these averages.

American National P&C is the cheapest car insurance provider for drivers with poor credit scores, offering rates of $31 monthly and $378 annually for minimum coverage. Review the table below for more options from other providers.

These rates are based on a 40-year-old driver with bad credit and a clean driving record.

Your location plays a big part in what you pay for car insurance. Even in the same state, cities can have different rates because of the number of people living there, flood risks and crime.

For example, Colorado Farm Bureau offers a monthly rate of $23 in Arvada, but the same minimum coverage costs $28 in Aurora. Check the table below for your city and find the most affordable companies and their lowest average monthly premium.

The lowest rate reference is for a minimum coverage policy for 40-year-olds with good credit and no driving violations.

In Colorado, State Farm offers the most affordable option to bundle home and auto insurance at $3,123. See the table below for more cheap bundling choices.

Rates are for a 40-year-old driver with good credit and no driving violations.

In Colorado, the monthly average cost for full coverage car insurance is $115, while state minimum coverage averages $51. Understanding the average cost of car insurance in Colorado can guide you in evaluating if your insurance deal is competitive with what's typical in the Centennial State.

In Colorado, your city can change your insurance cost. Check out these average rates for some guidance.

Car insurance is more affordable in Colorado, ranking 20th when compared to other states. This affordability can be attributed to factors like the state's lower population density and fewer natural disasters, leading to a lower risk of claims and, thus, more budget-friendly rates for residents.

In Colorado, all drivers must have car insurance policies that meet the state's minimum coverage limits. These include $25,000 for bodily injury per person, $50,000 per accident and $15,000 for property damage. Colorado law sets these requirements to ensure that drivers can cover the costs associated with car accidents.

If you finance or lease your car, you will likely need to buy comprehensive and collision insurance in addition to the state minimum coverages. While a state minimum liability auto insurance policy is the most affordable option, it provides the least financial protection. For better security, experts suggest opting for full coverage insurance with the highest deductible and liability limits you can afford.

Drivers with serious traffic violations, like speeding or DUI, may need to file for SR-22 insurance, which can increase their premiums. In Colorado, you or your insurance company can file the SR-22 form. It's valid for three years from your most recent offense.

Self-insurance is the most common car insurance alternative in Colorado. It allows individuals or businesses to meet the state's minimum coverage requirements by demonstrating financial responsibility through a bond or deposit.

For business owners, fleet insurance or self-insurance can be practical. Fleet insurance covers multiple vehicles under one policy, while self-insurance requires proof of financial stability, ensuring compliance with state laws.

MoneyGeek recommends that drivers get full coverage car insurance for the best protection. This includes liability, collision and comprehensive coverage. We suggest the following liability limits:

• $100,000 in bodily injury liability per person
• $300,000 in bodily injury liability per accident
• $100,000 in property damage per accident

Comprehensive coverage pays for damage to your car from non-collision events, like theft, vandalism or severe weather. Collision coverage helps pay for repairs if your vehicle is damaged in an accident while driving.

If your car is valuable, MoneyGeek suggests getting both comprehensive and collision insurance, even though they are not required by law. Choose a deductible for these coverages that you can afford to pay out of pocket. This way, your insurance can cover the rest after an incident.

Colorado Farm Bureau offers the cheapest car insurance, with full coverage costing $62 and minimum at $24. While a low price is tempting, remember that cheap isn't always best. Experts suggest choosing the most coverage you can afford for solid protection.

MoneyGeek helps you find affordable car insurance options in the Centennial State. We answer common questions to ensure you get the right state minimum coverage for your needs.

MoneyGeek obtained Colorado auto insurance rates from the Colorado Department of Insurance and Quadrant Information Services. We examined 106,836 auto insurance quotes from 14 providers across 101 ZIP codes to determine the most affordable car insurance companies in Colorado.

Colorado Driver Profile

We used a driver profile with the following background information to identify the cheapest auto insurance companies in Colorado:

• 40-year-old male
• 2012 Toyota Camry LE
• Clean driving record
• 12,000 miles driven annually

To find the cheapest option for various driver backgrounds, we adjusted this sample profile by age, driving record, credit score, car make and model and military service where specified.

Standard Coverage Levels in Colorado

We compared car insurance companies in Colorado that offer both minimum and full coverage policies. We set the limits of the minimum coverage car insurance policy to the minimum amount required by law in Colorado.

The minimum coverage liability limits in Colorado are:

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

For full coverage policy rates, we used the following liability limits:

• $100,000 for bodily injury liability per person
• $300,000 for bodily injury liability per accident
• $100,000 for property damage liability
• Comprehensive and collision coverage with a $1,000 deductible

Home and Auto Coverage Levels in Colorado

MoneyGeek analyzed the rates of insurance companies for a full-coverage auto insurance policy that includes the following coverage and limits:

• $100,000 in property damage liability
• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• Comprehensive and collision coverage with a $1,000 deductible

We also analyzed rates for a homeowners insurance policy that includes the following limits and coverage:

• $250,000 dwelling coverage
• $25,000 other structures coverage
• $100,000 personal property coverage
• $25,000 loss of use coverage
• $100,000 personal liability coverage
• $1,000 medical payments coverage
• All-perils coverage with a $1,000 deductible