In Colorado, American National offers the cheapest minimum coverage for low-income young drivers, adults, seniors and those with speeding tickets or accidents. Progressive is the most affordable for drivers with a DUI, while GEICO offers the lowest rates for those with bad credit.
Cheapest Low-Income Car Insurance in Colorado
Updated: February 6, 2025
Advertising & Editorial Disclosure
Key Takeaways
Although Colorado lacks a low-income car insurance program, drivers can still find affordable coverage in the state.
American Family, GEICO and Progressive offer some of the most affordable insurance options for many drivers.
Comparing providers and exploring discounts can help low-income drivers get lower car insurance premiums.
Cheapest Car Insurance Companies for Low-Income Drivers in Colorado
| American National | Young Drivers | $31 |
| American National | Adults | $26 |
| American National | Seniors | $30 |
| American National | Drivers With a Speeding Ticket | $31 |
| Progressive | Drivers With a DUI | $42 |
| American National | Drivers With an Accident | $37 |
| GEICO | Bad Credit | $49 |
*All rates in this table, except for adults, are based on a modified profile of a 40-year-old driver with good credit and a clean record insuring a 2012 Toyota Camry. The age ranges are 22 to 29 for young drivers, 30 to 59 for adults and 60+ for seniors.
Compare Cheap Low-Income Car Insurance Providers
Use the table below to find the most affordable provider for your driver profile.
Data filtered by:Results filtered by:
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Age Range:30-59
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Driving Record:Clean
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Credit Score:Good
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Coverage Level:State Minimum Liability Only
| American National | $26 | $311 |
| GEICO | $36 | $427 |
| Colorado Farm Bureau | $36 | $433 |
| Progressive | $37 | $441 |
| American Family | $42 | $499 |
Cheapest Car Insurance for Families With Low Income in Colorado
In Colorado, Kemper offers the cheapest auto insurance for low-income married couples adding a teen to their policy at $49 monthly. Auto-Owners is best for single parents adding a teen at $136, while GEICO is the most affordable for adding a spouse to your policy at $28.
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Family Type:Married Couple with Teen
| Kemper | $593 | $49 |
| GEICO | $755 | $63 |
| State Farm | $1,060 | $88 |
| Auto-Owners | $1,106 | $92 |
| Nationwide | $1,107 | $92 |
| Allstate | $1,200 | $100 |
| Progressive | $1,601 | $133 |
| Farmers | $1,960 | $163 |
*Rates for couples and single parents with teens apply to a 16-year-old driver. Those for a married couple without children are based on a 40-year-old male with good credit and a clean driving record.
Tips to Save On Car Insurance for Low-Income Drivers
Follow these steps to find more affordable coverage and keep your premiums in check:
- 1
Choose minimum coverage
Choosing basic coverage like the state-mandated minimum coverage is often the most affordable option, however it doesn't cover all expenses if you're in an at-fault accident.
- 2
Compare quotes
Utilizing tools like our online car insurance calculator, or gathering quotes yourself to compare providers will help you find the most affordable choice for your specific needs.
- 3
Look for discounts
Car insurance providers offer a selection of discounts depending on your profile including discounts for paying online or for being a good student. Customers can also look into telematics insurance, which tracks your driving habits to assign you a discount.
- 4
Increase your deductible
Although you have to be able to cover the cost if you have to file a claim, raising your deductible can lower your car insurance premiums.
- 5
Consider pay-per-mile insurance
If you are someone who doesn't drive long distances, or doesn't drive often, you can benefit from pay-per-mile insurance. This way your rates will reflect the amount of miles you're driving and you can lower your miles to pay less.
- 6
Bundle your policies
Drivers can cut costs of car insurance depending on the provider by bundling home and auto insurance in Colorado. Customers can save up to over $1,500 annually on auto insurance premiums when bundling policies together in the state.
- 7
Get a cheaper car
You can choose a cheaper car to insure, like an older or more reliable one to save on premiums. This is because car insurance providers take into account make, model and vehicle year when determining rates.
Minimum Car Insurance Requirements in Colorado
Colorado drivers must meet these minimum car insurance requirements:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $15,000 in property damage liability per accident
If you’re leasing or financing a car, you'll need a split of 100/300/100 liability coverage and comprehensive and collision protection.
WHY MINIMUM COVERAGE MAY NOT BE RIGHT FOR YOU
Minimum coverage pays for the other driver’s costs if you cause a crash but won’t cover your car repairs or legal fees. Consider more coverage if you drive often and can afford it so that you'll be covered if you're in an at-fault accident.
Cheap Low-Income Car Insurance in Colorado: Bottom Line
American National offers the most affordable car insurance for most low-income drivers in Colorado. High-risk drivers can find competitive rates with Progressive for DUIs, American National for accidents and GEICO for bad credit. Explore various providers using different methods to secure the best deal.
Low-Income Auto Insurance in Colorado: FAQ
Finding affordable car insurance can be tricky for low-income drivers. Here are answers to common questions to help you save money.
What is the cheapest car insurance for low-income drivers in Colorado?
A minimal coverage policy is often the most budget-friendly for low-income drivers, but availability depends on whether you own, finance or lease your vehicle. In Colorado, American National has the cheapest monthly rates of $26 for minimum coverage and $68 for full coverage.
Does Colorado have a state-supported low-income car insurance program?
Colorado has no state-supported program to provide low-income drivers with affordable car insurance.
Does your income affect the cost of car insurance in Colorado?
Income doesn’t directly impact car insurance rates in Colorado. Insurers focus on factors like credit score, driving history and vehicle type.
How We Chose the Cheapest Car Insurance for Low-Income Drivers
Study Overview
MoneyGeek analyzed Colorado auto insurance rates using data from the Colorado Division of Insurance and Quadrant Information Services.
Data Acquisition, Depth and Analysis
MoneyGeek analyzed 328,384 quotes from 14 companies across 370 ZIP codes to determine the average cost of car insurance for drivers with low income in Colorado.
Sample Driver Profile
We used a sample driver profile with the following attributes to determine average car insurance rates for low-income drivers in Colorado:
- 40-year-old male
- 2012 Toyota Camry LE
- Clean driving record
- 12,000 miles driven annually
To determine rates for specific driver profiles, we adjusted factors such as age, family status, driving history and credit standing.
Our study defines seniors as 60 or older, young drivers as 22 to 29 and adults as 30 to 59. Married couples with a child include 40-year-old male and female drivers with a 16-year-old teen. Single parents with children are 40-year-old male or female drivers with a 16-year-old teen.
Coverage Levels and Deductibles
Our data shows rates for minimum coverage, which follows the requirements set by Colorado law, and offers affordable options for low-income drivers.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.