Car insurance in Colorado can be pricey, with full coverage costing about $2,293 yearly or $191 monthly on average. But, with some research and comparison, you can find affordable options. Some of the cheapest companies include American National, Geico, Southern Farm Bureau, USAA, and State.
This guide will cover the average costs of car insurance in Colorado. We’ll also look at the most affordable providers and give tips for finding the best coverage for your budget. We’ll help everyone, from young drivers to seniors, find protection they need without spending too much.
Key Takeaways
- The average cost of full coverage car insurance in Colorado is $2,293 per year or $191 per month.
- Minimum liability coverage in Colorado costs an average of $547 per year or $46 per month.
- Geico, Southern Farm Bureau, and American National are among the cheapest car insurance providers in Colorado.
- Drivers can find significant savings by comparing quotes from multiple insurers and taking advantage of available discounts.
- Factors like age, driving history, and credit score can significantly impact car insurance rates in Colorado.
The Cheapest Car Insurance Companies in Colorado
Looking for affordable car insurance in Colorado? Our research found several top providers with low rates. American National, Geico, Southern Farm Bureau, USAA, and State Farm are among the cheapest.
American National P&C is a top pick for saving money. They offer the lowest rates for both basic and full coverage in Colorado. You can get basic coverage for just $283 a year and full coverage for about $721.
Geico and Southern Farm Bureau are great for young and senior drivers. They have very low rates, making them perfect for saving on insurance.
USAA is a great choice for military members and their families. It’s not open to everyone, but its rates are among the lowest in the state.
State Farm is also a top choice for affordable insurance in Colorado. They offer reliable coverage at good prices.
These five companies are the cheapest for car insurance in Colorado. We based this on over 100,000 quotes across the state.
Average Cost of Car Insurance in Colorado
Car insurance rates in Colorado have some interesting numbers. The average cost of full coverage car insurance is $1,346 a year or $112 monthly. For minimum coverage, it’s $602 a year or $50 a month. These rates are higher than the national averages for full and minimum coverage.
Colorado’s high car insurance rates come from its population density, many registered vehicles, and frequent accidents. But, smart shoppers can find cheaper options by comparing rates from different companies in Colorado.
Minimum Liability Coverage in Colorado
The average annual premium for the minimum liability coverage in Colorado is $602. This means drivers pay about $50 a month for the coverage needed by law.
Full Coverage Car Insurance in Colorado
For full coverage policies with higher limits and a $1,000 deductible, the average annual premium is $1,346. This works out to about $112 a month for more protection.
| Coverage Type | Average Annual Premium | Average Monthly Premium |
|---|---|---|
| Minimum Liability | $602 | $50 |
| Full Coverage | $1,346 | $112 |
Knowing about the average car insurance cost in Colorado and the different options helps drivers make better choices. They can find the best and most affordable protection for their needs.
Minimum Liability Coverage in Colorado
Looking for affordable liability-only car insurance in Colorado? Southern Farm Bureau is a top choice. They offer the cheapest minimum liability coverage at just $275 a year or $23 monthly.
This is much cheaper than Colorado’s average of $547 a year. Other great options include Geico ($337 per year), State Farm ($370 per year), and Auto-Owners Insurance ($412 per year).
Choosing a minimum liability-only policy can help Colorado drivers save money. Even though it meets the state’s minimum, experts suggest getting more coverage for better protection.
| Provider | Average Minimum Liability Cost (Annual) |
|---|---|
| Southern Farm Bureau | $275 |
| Geico | $337 |
| State Farm | $370 |
| Auto-Owners Insurance | $412 |
By picking the cheapest minimum car insurance colorado options, you can get great coverage without spending too much. This way, you ensure you’re well-protected without breaking the bank.
Full Coverage Car Insurance in Colorado
Looking for the cheapest full coverage car insurance colorado? Geico is a great choice. They offer affordable comprehensive car insurance colorado at $1,306 a year or $109 monthly. This is much lower than the state average of $2,293 for full coverage.
Other companies like Southern Farm Bureau, State Farm, and Nationwide also offer good rates in Colorado. The cost of your full coverage car insurance depends on your driving record, credit score, and the car you drive.
Factors Affecting Full Coverage Costs
Several factors affect the cost of affordable comprehensive car insurance colorado. These include:
- Driving record: Accidents and speeding tickets can raise your rates.
- Credit score: A better credit score can lead to lower premiums.
- Vehicle type: The cost to insure a newer, pricier car is usually higher.
To get the cheapest full coverage car insurance colorado, compare quotes and understand what coverage you need. This way, you can find the best protection for you and your family.
“Geico offers the most affordable full coverage car insurance in Colorado, with an average annual rate of $1,306 or $109 per month.”
Car Insurance for Young Drivers in Colorado
Finding affordable car insurance is tough for young drivers in Colorado, especially for those 16 to 25 years old. But, we found two companies that offer great rates: Southern Farm Bureau and Geico.
Competitive Rates for Young Drivers
For a 16-year-old, Southern Farm Bureau has an average full coverage policy of $3,638 a year. Geico is a bit higher at $5,030 annually. As they get older, these two companies keep offering great rates. For example, 19-year-olds pay about $2,486 a year with Southern Farm Bureau, and 25-year-olds pay $1,460 with Geico.
Other good options for young drivers in Colorado include State Farm and American Family Insurance. They also offer low-cost coverage that’s worth looking into.
Factors Affecting Rates for Young Drivers
Many things affect the cost of car insurance for young drivers in Colorado. This includes the car’s make and model, how much you drive, your age, where you live, your driving record, credit score, coverage limits, and deductible amounts. Teenagers are seen as higher risk, which means higher insurance costs.
To lower the cost of insurance, young drivers in Colorado can use discounts and strategies. These include:
- Staying on a parent’s policy
- Keeping good grades
- Taking defensive driving courses
- Choosing a higher deductible
- Shopping around for quotes
By looking into these options and working with companies like Southern Farm Bureau and Geico, young drivers in Colorado can find cheap car insurance for young drivers colorado, affordable colorado auto insurance for teens, and low cost car insurance for young adults in colorado.
“Car crashes are the second leading cause of death among teens in the United States, with the risk highest during the first months after obtaining a driver’s license,” according to the Centers for Disease Control and Prevention (CDC).
| Insurance Provider | Average Annual Cost for 16-year-old | Average Annual Cost for 19-year-old | Average Annual Cost for 25-year-old |
|---|---|---|---|
| Southern Farm Bureau | $3,638 | $2,486 | N/A |
| Geico | $5,030 | N/A | $1,460 |
Car Insurance Rates for Seniors in Colorado
As drivers get older, car insurance costs can go up, especially after 65. Our research shows that Geico offers some of the cheapest rates for seniors aged 65-75 in Colorado. The average yearly cost for a full coverage policy with Geico is about $1,205. This is lower than the state’s average of $2,293.
Other companies like State Farm ($1,388 per year), Nationwide ($1,508 per year), and USAA ($1,216 per year) also have good rates for Colorado seniors. The cost of insurance can change based on your driving history, credit score, and the type of vehicle you drive.
Saving Tips for Senior Drivers in Colorado
- Shop around often to find the best prices for affordable car insurance for seniors in Colorado.
- Consider raising the deductible from $500 to $1,000 to save on monthly premiums.
- Take a defensive driving course to get up to a 3% discount on car insurance in Colorado.
- Look into low cost auto insurance for retirees in Colorado from providers like USAA, Geico, and State Farm.
“Geico offers the cheapest car insurance premiums for senior drivers aged 65-75 in Colorado, with an average annual cost of around $1,205 for full coverage.”
By using these tips, Colorado seniors can find the best car insurance rates for elderly drivers and save money on their auto insurance.
Cheapest Rates After Traffic Violations
Finding affordable car insurance is tough, especially if you have speeding tickets, accidents, or DUIs on your record. But, our study shows that State Farm is the top choice in Colorado for drivers with these issues.
State Farm’s yearly premium for a driver with a speeding ticket is about $1,740. This is 15% less than the average for similar drivers in Colorado. For those with an accident, State Farm’s full coverage costs $1,848 a year. This is cheaper than Geico’s $1,925 and Allstate’s $1,975.
Even with a DUI, State Farm is the cheapest, at $1,404 a year. This is much lower than Geico’s $1,758 and Allstate’s $1,782.
Geico and Southern Farm Bureau also offer good rates for high-risk drivers in Colorado. But, having a clean driving record helps get the best rates. For those with past issues, State Farm is the best option.
Key Takeaways:
- State Farm offers the most affordable car insurance rates in Colorado for drivers with prior incidents like speeding tickets, accidents, or DUIs.
- For a driver with a speeding ticket, State Farm’s average full coverage rate is $145 per month, compared to $154 per month for an at-fault accident and $145 per month for a DUI.
- Geico and Southern Farm Bureau also provide relatively low-cost options for high-risk drivers in Colorado.
- Maintaining a clean driving record is key to accessing the cheapest car insurance rates in the state.
“Affordable car insurance is within reach, even for drivers with past violations, as long as you know where to look. State Farm stands out as the best choice in Colorado for high-risk motorists.”
Car Insurance Discounts in Colorado
Finding affordable car insurance in Colorado can be easier with discounts. The state’s big insurance companies offer many ways for drivers to save money.
Common Car Insurance Discounts in Colorado
- Good driver discount: Drivers with clean records and no accidents or violations can save 10% to 30%.
- Defensive driving course discount: Taking an approved defensive driving course can give drivers 5% to 10% off, especially for older drivers.
- Continuous coverage discount: Keeping insurance coverage continuous can save 5% to 25%.
- Billing and payments discount: Paying premiums upfront or using automatic payments can lead to 2% to 25% discounts.
- Policy bundling discount: Insuring more vehicles or policies with one provider can save 1% to 12%.
- Good student discount: Young drivers with a “B” average or higher can get 5% to 20% off.
- Usage-based discount: Agreeing to have your driving monitored can earn you 1% to 30% in discounts.
- Safety features discount: Cars with safety features can save drivers 2% to 30%.
- Anti-theft systems discount: Vehicles with anti-theft devices can get 5% to 25% off insurance costs.
By using these and other discounts, Colorado drivers can find more affordable car insurance coverage that fits their budget and needs.
| Insurance Provider | Average Full Coverage Cost |
|---|---|
| American National | $169/month or $2,032/year |
| Geico | Varies |
| Southern Farm Bureau | Varies |
| State Farm | Varies |
| USAA | Varies |
The cost of car insurance in Colorado can change based on age, vehicle type, driving history, and coverage levels. By looking into all discounts, Colorado drivers can save on their auto insurance premiums and find the best coverage for their budget.
Comparing Car Insurance Rates by City
In Colorado, where you live affects your car insurance rates. Prices change a lot from city to city. This is because of things like how many people live there, how often accidents happen, and the cost of living.
Our research shows that average car insurance rates by city in Colorado can go from $1,885 a year in Eldorado Springs to $2,329 in Aurora. That’s a 24% difference. Other states like Connecticut, Florida, and Illinois also see big price differences between cities, with variations of 21% to 28%.
| City | Average Annual Full Coverage Car Insurance Rate |
|---|---|
| Aurora, CO | $2,329 |
| Eldorado Springs, CO | $1,885 |
| East Glastonbury, CT | $1,749 |
| Plainville, CT | $1,429 |
| Miami, FL | $3,483 |
| Palm Coast, FL | $2,753 |
When looking for the cheapest auto insurance by location in Colorado, it’s key to compare quotes from different companies. This way, drivers can find coverage that fits their budget and needs.
The average Colorado car insurance prices by city show how important location is in setting insurance costs. Drivers should know about the rate differences across cities. This helps them make smart choices when buying car insurance in Colorado.
Factors Affecting Car Insurance Premiums
Many things can change how much you pay for car insurance in Colorado. Knowing what affects your rates can help you save money.
Age, Driving History, and Credit Score
Young and older drivers usually pay more for insurance. This is because they are seen as more risky. If you’ve had accidents or traffic tickets, you’ll likely pay more too. Your credit score also matters, as a low score can mean higher insurance costs.
Vehicle Type and Coverage Levels
The type of car you drive affects your insurance price. Cars that cost more to fix or are more likely to be stolen can lead to higher rates. Choosing more coverage also means paying more for your policy.
Location and Driving Habits
Where you live in Colorado can change your insurance rates. Cities with more people usually have higher rates because of more accidents and thefts. How much you drive can also affect your costs. Insurers often give discounts to those who drive less.
Knowing what affects car insurance rates in Colorado helps drivers make better choices. This way, they can find cheaper insurance.
FAQ
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Source Links
- Cheapest Car Insurance in Colorado
- Colorado Car Insurance | Get a Quote | Liberty Mutual
- Cheapest Car Insurance in Colorado for 2024 | Bankrate
- Cheapest Car Insurance in Colorado (August 2024)
- Get Cheap Car Insurance In Colorado 2024
- Cheapest Car Insurance in Colorado (2024) | LendingTree
- Average Cost of Car Insurance in Colorado in 2024 | Bankrate
- How Much Is Car Insurance in Colorado? (August 2024)
- Colorado Car Insurance Guide: Minimum Requirements
- Colorado Car Insurance Coverage – Nationwide
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