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Considering the costs of getting pulled over without proof of auto insurance -- including penalties and fees -- it makes sense for Coloradans to do everything within their power to remain insured. Fortunately, low-cost car insurance is available. We've scoured available insurance providers to locate the cheapest car insurance in Colorado. Here, we've broken them down by the type of insurance drivers are likely to be seeking.
When it comes to cheap auto insurance in Colorado, Geico blows the competition out of the water. In fact, Geico offers the most affordable car insurance in Colorado in four out of our five categories. When it comes to a typical driver with a clean driving record, Geico quotes an average annual rate of $1,180 (or a little over $98 per month).
Geico is not the only player in town, though. These three companies also offer relatively cheap car insurance quotes in Colorado:
One of the small perks of being a member of the U.S. military (active or veteran) is the opportunity to pick up Colorado auto insurance at a relative bargain. Our search found that the most affordable car insurance in Colorado for military members is Geico, offering an average annual rate of $1,178.
Some more of the best car insurance in Colorado for military members include:
There are few things more nerve-wracking for a parent than to watch their teen pull out of the driveway. While it's a parent's job to keep their kids safe throughout childhood, once they're old enough to drive, parents also take on the responsibility of helping their child find the best car insurance in Colorado. However, due to a teenager's lack of experience behind the wheel, they're one category of drivers that makes insurers nervous. So nervous that they charge much higher rates for teens and young drivers than older, more experienced drivers. For Colorado teens, it appears that Colorado Farm Bureau is the most trusting, with an average annual rate of $2,876.
Rounding out the best car insurance companies in Colorado for teens are:
A single speeding ticket may not be a huge deal in the scope of one's life, but it can boost insurance rates until that ticket falls off the driver's record. Again, the most forgiving Colorado auto insurance company appears to be Geico, offering drivers with one speeding ticket an average annual rate of $1,671.
It's tough to beat Geico when it comes to purchasing the cheapest car insurance in Colorado following a ticket, but these three companies also offer competitive rates:
When times are tough and finances are tight, drivers must purchase at least Colorado minimum car insurance. These rates are considerably less expensive than the rates associated with full coverage auto insurance but don't offer nearly as much coverage. The company offering the cheapest minimum coverage policy is Geico, with an average annual rate of $314.
Other Colorado auto insurance companies with affordable rates include:
The average rate for Colorado auto insurance is $2,602, slightly less than the national average of $2,646.
|Average Rate Category||Colorado||National Average|
|1 accident on driving record||$2,881||$3,092|
|1 speeding ticket on driving record||$2,684||$2,766|
Driving without Colorado auto insurance can be costly, both in terms of money and time. Anyone caught driving without insurance in the state may face:
In addition, anyone who is caught for the second time can face from 10 days to one year in jail.
Colorado car insurance laws are clear. At the very least, drivers must carry state minimum coverage. This coverage includes:
Once a driver learns, "How much is car insurance in Colorado?" it's natural to wonder if there are ways to reduce the premium. Fortunately, it is possible. Some of it has to do with driving and credit reputation, and the rest is about taking advantage of discounts offered by their insurer.
Insurance companies look at the past as a possible predictor of future behavior. Before providing a quote, insurers check an applicant's driving record, looking for a history of tickets or accidents. One of the easiest ways a driver can keep their insurance premiums low is to make it a practice to be a careful driver. Avoiding tickets and fender benders lets insurance companies know that they're a cautious driver and helps reduce the cost of auto insurance.
Drivers are sometimes surprised to learn that Colorado auto insurance companies run a credit check before offering a rate quote. But studies have shown that drivers with high credit scores tend to make fewer insurance claims. A driver with a high credit score will almost always be offered a cheaper insurance rate than a driver with a poor credit score. For the driver with a low credit score, working to raise that score can save money on insurance and consumer loans.
As a driver shops around for the lowest insurance rate, it pays to check out the discounts offered by different insurers. Though these discounts vary by carrier, there tends to be something for everyone. Here are some of the most popular discounts offered by the companies we examined:
Colorado provides an opportunity to self-insure against accidents and property damage, but only to those with more than 25 vehicles registered in their name. These drivers can apply for a certificate of self-insurance from the state insurance commissioner. The commissioner's office then checks to see that the applicant can pay for the minimum coverage required.
Whether a driver is looking for full coverage or cheap liability car insurance in Colorado, it always pays to shop around. Sometimes, the lowest stand-alone rate can be beaten by bundling insurance products with another insurance company.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.
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