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Colorado drivers with a normal driving record can expect to pay $ 2,016 per year for full coverage and $ 518 per year for minimum coverage. Although these amounts are not the highest tariffs in the country, there is always room to reduce them even more. Make the right decisions and you could potentially pay even less for auto insurance.
How Much Does Auto Insurance Cost in Colorado?
How Much Does Auto Insurance Cost in Colorado? It depends on various factors, including:
- Age
- Sex
- Driving history
- State
- Site
- Car make and model
- Deductible
- Coverage amount
- Discounts
- Marital status
- Credit score
Currently, auto insurance rates in Colorado average $ 518 per year for minimum coverage and $ 2,016 per year for full coverage. That’s slightly higher than the US national average – $ 565 per year for minimum coverage and $ 1,674 per year for full coverage.
Colorado Auto Insurance Rates by Company
Each business charges a different amount for a variety of reasons. Below are the top companies that Colorado drivers can choose from. As you will see, the prices are sometimes very different from one company to another.
| Auto insurance company | Average annual premium for minimum coverage | Average annual premium for full coverage |
|---|---|---|
| Acuity | $ 483 | $ 1,872 |
| Allstate | $ 635 | $ 1,711 |
| American family | $ 699 | $ 1,909 |
| American National | $ 207 | $ 767 |
| Car owners | $ 479 | $ 1,951 |
| California victim | $ 493 | $ 2.411 |
| Colorado Agricultural Bureau Insurance | $ 615 | $ 2,870 |
| Farmers | $ 488 | $ 1,883 |
| Geico | $ 283 | $ 1,106 |
| barn | $ 299 | $ 2,010 |
| MetLife | $ 517 | $ 2,550 |
| Progressive | $ 761 | $ 3,024 |
| State farm | $ 435 | $ 1,696 |
| United States | $ 303 | $ 1,310 |
Colorado Auto Insurance Rates By City
Average auto insurance rates in Colorado vary depending on where you live in the state, as does the best auto insurance company for you. The most populous cities are statistically more likely to have a higher frequency of complaints.
Below are the top 20 cities sorted by population with their corresponding average premium costs to the right. The percentage increase is how much more (or less) these city averages compare to Colorado’s average annual premium of $ 2,017 for full coverage.
| City | Average annual premium for full coverage | % increase in average annual premium |
|---|---|---|
| Denver | $ 2,232 | 11% |
| Colorado Sources | $ 2,178 | 8% |
| Dawn | $ 2,281 | 13% |
| Fort-Collins | $ 1,773 | -12% |
| Lakewood | $ 2,130 | 6% |
| Pueblo | $ 2,323 | 15% |
| Thornton | $ 2,018 | 0% |
| Arvada | $ 1,968 | -2% |
| Rock | $ 1,861 | -8% |
| Westminster | $ 1,941 | -4% |
| Greeley | $ 1,826 | -9% |
| Longmont | $ 1,839 | -9% |
| Centenary | $ 2,067 | 3% |
| Highlands Ranch | $ 1,957 | -3% |
| Land of love | $ 1,720 | -15% |
| Great crossroads | $ 1,643 | -19% |
| Broom field | $ 1,881 | -7% |
| Parker | $ 2,014 | 0% |
| Littleton | $ 1,985 | -2% |
| stone castle | $ 1,970 | -2% |
Colorado Cost of Living and Auto Insurance
When shopping for the best auto insurance rates in Colorado, it’s important to factor in your other expenses so that you look at your total cost of living. The graph below shows the average annual cost of living in Colorado, including the average cost of auto insurance. Use this chart as a guide to help you determine your overall spending so you can decide which insurance rates are within your budget.
Colorado Auto Insurance Rates by Age
Young drivers are more likely to have an accident because of their inexperience behind the wheel. As they mature and gain more experience, the cost they pay goes down.
* 16 years and 17 years calculated on the disclosure of the parents’ policy
Colorado Auto Insurance Rates by Driving Record
Colorado auto insurance rates are greatly affected by driving history. The table below illustrates the percentage increase you can expect after a major infraction:
| Driving incident | Colorado Average Annual Full Coverage Premium | % increase in average annual premium |
|---|---|---|
| Speeding | $ 2,440 | 21% |
| Accident | $ 2,845 | 41% |
| DUI | $ 3,286 | 63% |
How To Save On Auto Insurance In Colorado
If you use the strategies below, you should be able to lower your auto insurance rates in Colorado:
- Compare suppliers: Each provider charges a different amount because each provider has their own pricing algorithm. For example, the impact of your credit score on your auto insurance premium will vary from company to company. It is for this reason that it is always worth looking for a cheaper supplier.
- Increase your deductible: A high deductible will most likely help reduce the amount you pay each month, but it will also reduce the amount you will receive in the event of an accident.
- Driving an old car: An old car costs less to insure because it costs less to replace. To keep you and your family safe, just make sure it has a high security rating (note: this will help your insurance costs as well).
- Discounts: Most of the major providers offer a variety of discounts to help lower your premium. The trick is to compare the vendors and the amount of savings you will receive with each.
- Increase your credit score: Lower credit scores have been associated with a higher frequency of claims. Increase your credit score and your insurer should lower your premium.
Colorado Insurance Requirements
Colorado is a 25/50/15 state. This means that you must take out sufficient insurance to cover up to:
- $ 25,000 per person for bodily injury
- $ 50,000 per accident for bodily injury
- $ 15,000 per accident for property damage
While this is a lot of money, Colorado drivers may consider purchasing additional coverage if they can. There are many valid reasons for doing this. For starters, if a natural weather event damages your car, you will be forced to pay for the repairs out of pocket. If you had understanding, it probably wouldn’t be necessary. Another reason is that if you are hit by an uninsured motorist who has no assets, suing that person will get you nowhere. You will be responsible for all your medical expenses and property damage.
Frequently Asked Questions
Is Colorado a Flawless State?
No, Colorado is not a flawless state. This is a tort condition, which means that the driver at fault must pay for any damage caused by his driving.
Is Uninsured Motorist Coverage Required in Colorado?
No, but every insurer must at least offer it.
Mandatory or not, Colorado drivers should seriously consider it because the state has an uninsured motorist rate of 13.3% (according to the latest Insurance Information Institute study).
Methodology
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:
- $ 100,000 liability for bodily injury per person
- $ 300,000 liability for bodily injury per accident
- Civil liability for property damage of $ 50,000 per accident
- $ 100,000 in bodily injury caused by an uninsured motorist per person
- $ 300,000 in uninsured bodily injury per accident to a motorist
- $ 500 collision deductible
- Global deductible of $ 500
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.
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