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The Best Cheap Colorado Car Insurance for 2022

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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.

  • Cheapest for typical drivers: Geico
  • Cheapest for military members: Geico
  • Cheapest for teen drivers: Colorado Farm Bureau
  • Cheapest for drivers with one speeding ticket: Geico
  • Cheapest for drivers looking for minimum coverage: Geico

Cheapest for typical drivers

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

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Best for Colorado drivers with a clean driving recordGeico
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Geico is not the only player in town, though. These three companies also offer relatively cheap car insurance quotes in Colorado:

  • Progressive, comes in with an average rate of $1,614
  • Nationwide stays in competition with an average annual rate of $1,625
  • USAA is also competitive with its average rate of $1,666

Cheapest for military members

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:

  • Progressive, offering military members an average annual rate of $1,535
  • Nationwide, coming in close behind with an average rate of $1,643
  • USAA, catering to members of the military with an average rate of $1,703

Cheapest for teen drivers

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.

Farm Bureau

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Best for young driversFarm Bureau
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Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rounding out the best car insurance companies in Colorado for teens are:

  • American National, offering a relatively reasonable rate of $3,214
  • USAA, coming in with an annual rate of $3,749 for eligible drivers
  • State Farm, an old name in insurers, offering an average annual rate of $3,903

Cheapest for drivers with one speeding ticket

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:

  • American National offers an average annual rate of $1,955
  • Nationwide stays in the race with an average yearly rate of $2,015
  • Colorado Farm Bureau once again makes it into the top four with a rate of $2,095

Cheapest for drivers looking for minimum coverage

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:

  • USAA, offering eligible drivers an average annual rate of $371
  • Progressive, staying competitive with an average rate of $446
  • Colorado Farm Bureau, providing minimum coverage with an average premium of $448

Average car insurance cost in Colorado compared to the national average

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
Overall $2,602 $2,646
Young drivers $6,273 $5,988
1 accident on driving record $2,881 $3,092
1 speeding ticket on driving record $2,684 $2,766
What drivers in Colorado can expect to pay for car insurance compared to the national average

Colorado auto insurance laws

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:

  • Fines of $500 to $1,000
  • Up to 40 hours of community service
  • Up to eight-month suspension of driver's license
  • 4 points on their driver's record
  • $40 fee
  • The requirement to file an SR-22 certificate for three years

In addition, anyone who is caught for the second time can face from 10 days to one year in jail.

Colorado minimum coverage requirements

Colorado car insurance laws are clear. At the very least, drivers must carry state minimum coverage. This coverage includes:

  • $25,000 in bodily injury or death of one person
  • $50,000 in bodily injury or death to all involved in one accident
  • $15,000 in property damage

How to get cheap auto insurance in Colorado

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.

Driving record

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.

Credit score

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.

Discounts

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:

  • Good student discount
  • Defensive driver discount
  • Pay-in-full discount
  • Away-at-school discount
  • Occupational discount
  • Alumni discount
  • Professional organization discount
  • Safety feature discount
  • Usage-based discount
  • Multi-car discount
  • Multi-policy discount
  • New car discount

Other things to consider when looking for car insurance in Colorado

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.

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