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Danny Smith is a licensed property and casualty insurance agent who has written for Compare.com since 2024. A former insurance editor, he specializes in auto, home, and pet insurance. He works to translate his insurance expertise into digestible, easy-to-understand content for drivers, homeowners, and pet owners alike.
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Lequita Westbrooks is an insurance editor at Compare.com. Her writing and editing experiences span several industries, including insurance, personal finance, higher education, and more. She excels at explaining complex topics like auto insurance in simple, easy-to-understand language and is passionate about helping readers save money. Lequita graduated from the University of South Florida, where she earned her Bachelor’s degree in English.
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The average cost of car insurance in Colorado is $157 per month, according to Compare.com data. State-mandated liability coverage costs an average of $99 per month, but full coverage averages around $215.
Colorado law requires all drivers to have insurance, making it crucial to understand what your car insurance policy covers. This guide will help you determine how much coverage you need and what to look for in a policy. We’ll also take a look at the cheapest car insurance companies in the Rocky Mountain State and outline a few of the easiest ways you can save.
State Farm is the cheapest car insurance company in Colorado, with an average monthly rate of $48.
Colorado requires drivers to have liability insurance with limits of 25/50/15 to legally drive.
State Farm offers the cheapest car insurance rates for senior drivers in Colorado.
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The average cost of car insurance in Colorado is $157 per month, according to Compare.com data. But keep in mind that this is only an average — your rate will likely be different based on your unique driving profile and how much coverage you need.
Check out the table below to see how much Colorado drivers pay on average compared to the rest of the country.
Location ▲▼ | Average Monthly Premium: Liability ▲▼ | Average Monthly Premium: Full Coverage ▲▼ | Average Monthly Premium: All Policies ▲▼ |
|---|---|---|---|
| Colorado | $99 | $215 | $157 |
| National average | $107 | $197 | $152 |
The average cost of a liability-only policy in Colorado is $99 per month, while a full-coverage car insurance policy will run you $215 per month, on average. But exactly how much you’ll end up paying for your policy depends on factors like your location, driving record, and age, among numerous other variables.
Below, we’ll take a look at how these factors can affect your rates.
Compare personalized quotes from Colorado’s top insurers.
While Colorado’s average rate might seem a little steep, you still have plenty of ways to save money on your policy. One of the best ways to cut your rates is by comparing quotes from multiple insurance companies.
The insurers in the table below are a good place to start, offering the five cheapest average rates in Colorado, according to Compare.com data.
Company ▲▼ | Average Monthly Premium ▲▼ |
|---|---|
| State Farm | $48 |
| USAA | $62 |
| American Family | $66 |
| GEICO | $74 |
| Allstate | $75 |
| Sun Coast | $79 |
| Root | $79 |
| Nationwide | $80 |
| Progressive | $84 |
| Auto-Owners | $86 |
| The General | $90 |
| Bristol West | $94 |
| Safeco | $114 |
| Foremost | $116 |
| Travelers | $121 |
| Dairyland | $124 |
| Farmers | $126 |
| Direct Auto | $131 |
| National General | $149 |
| Liberty Mutual | $210 |
State Farm offers the cheapest rates in Colorado, with an average rate of just $48 per month.
But that doesn’t necessarily mean it will be the cheapest option for you. After all, every insurer calculates premiums differently, so it’s important to compare quotes from multiple companies before buying a policy.
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There’s no single insurer that’s the best car insurance company for everyone. Every driver is different, and so is every insurer — each company determines its premiums differently, and certain types of drivers will fit better with certain companies.
And remember, the cheapest company isn’t always the best option. Look for an insurer that’s reasonably priced but also meets your coverage needs.
We’ve selected some of the best car insurance companies in Colorado for a few key types of drivers. We based these choices on a combination of rates, coverages, discounts, and customer reviews.
Average premium: $85 per month
Compare.com Rating: 4.90 out of 5
Affordable rates in Colorado
Wide network of local agents
Expensive premiums for high-risk drivers
Limited coverage options
State Farm is the largest auto insurance company in the U.S. by market share, according to the National Association of Insurance Commissioners (NAIC). This allows it to offer some of the cheapest car insurance rates in the state as well as reliable coverage and numerous discounts. It’s an excellent all-around insurer, especially for Colorado drivers on a budget.
State Farm also ranked above average for customer satisfaction in J.D. Power’s 2024 U.S. Auto Insurance Study. But one drawback is that it has high premiums for high-risk drivers, so if you have some blemishes on your driving record, you may want to look elsewhere.
Average premium: $74 per month
Compare.com Rating: 4.91 out of 5
Affordable average rates
Military-focused discounts
Gap insurance not available
Only available to military members
USAA is the best car insurance company in Colorado for military members, veterans, and their families. It offers unique discounts to members such as reduced rates for parking your car on a military base.
The insurer also earned a strong AM Best financial strength rating of A++ (Superior), meaning you won’t have trouble getting paid after a claim. But unfortunately, USAA insurance coverage is only available to military members and their families — not the general public.
Average premium: $126 per month
Compare.com Rating: 4.98 out of 5
Very high customer satisfaction ratings
Numerous discount opportunities available
Potentially more expensive than other options
Not available in every state
American Family is one of the absolute best car insurance companies in Colorado for customer service. It ranks near the top for customer satisfaction in J.D. Power’s 2024 U.S. Auto Insurance Study, and it also has a lower-than-average number of complaints, according to the NAIC.
It also earned an A (Excellent) rating from AM Best for financial strength, so it should have no problem paying claims quickly. But it’s not the cheapest option in Colorado and is only available in 19 states, so you might have to switch insurers if you move elsewhere.
Compare personalized quotes from Colorado’s cheapest companies.
How much coverage you choose has a significant effect on how much you pay for car insurance — the higher your coverage levels are, the more your premiums will be.
The cheapest available policy will always be liability insurance at the state’s minimum limits. But these policies don’t provide adequate protection for most drivers — they only cover other people’s property damage and medical bills after an accident, leaving you on the hook to pay for your own expenses.
Check out the table below to see the five cheapest companies in Colorado for liability-only car insurance policies, according to Compare.com data.
Liability insurance typically isn’t enough coverage for most drivers. Many insurance experts strongly recommend buying full coverage, and in most cases, your lender will require you to have it if you finance or lease your car.
With that in mind, let’s take a look at how much full-coverage car insurance costs in Colorado.
Full-coverage car insurance generally refers to policies that add collision and comprehensive coverage on top of state-mandated liability coverage. These coverages pay for your damages after car accidents and other non-collision events, like theft, vandalism, and weather.
The drawback of full coverage is that it’s more expensive than liability coverage, but it offers much more thorough protection, which could save you thousands if you get into an incident.
Take a look at the table below to find the five cheapest companies for full coverage in Colorado, according to Compare.com data.
Remember to always compare quotes from at least three companies before buying a policy. It’s the only way to ensure you’re getting the best possible deal.
Next, let’s explore how your age can affect your car insurance rates in Colorado.
Your age is another major factor that car insurance companies consider when determining rates. Young drivers pay the most of any age group since they have the least experience, and rates tend to go down as you age — at least until you reach your senior years, when changes in ability can drive up your rates again.
Take a look at the table below to see just how much of an effect your age can have on your car insurance rates in Colorado, according to Compare.com data.
Age Group ▲▼ | Statewide Average Monthly Premium ▲▼ | Cheapest Insurer ▲▼ | Cheapest Insurer’s Average Monthly Premium ▲▼ |
|---|---|---|---|
| Teens | $285 | State Farm | $87 |
| 40s | $147 | State Farm | $44 |
| 60s | $119 | State Farm | $35 |
Teens almost always pay the highest car insurance rates of any age group, no matter what state they’re in. Insurers rightfully consider young drivers as risky to insure because they have little to no experience behind the wheel, making them a total unknown in terms of risk. In fact, according to the Centers for Disease Control and Prevention (CDC), young drivers have a fatal crash rate almost three times as high as drivers above the age of 20.
Teenage drivers in Colorado pay an average of $285 per month for car insurance, according to our research. Still, you can find the best deal with State Farm — its average rate is just $87 per month.
Senior drivers often pay some of the cheapest rates of any age group. After all, they have plenty of experience behind the wheel, so insurers trust them to drive carefully. But once you hit your 70s, you can expect to see rates go up again due to things like poor vision and slower reaction times.
Senior drivers in Colorado typically pay around $119 per month for car insurance, based on our research. And they can find the cheapest policies with State Farm, at only $35 per month.
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Of all the factors insurers consider, your driving record is arguably the most impactful. That’s because it’s a direct way to tell what kind of driver you are. People with blemishes on their records face much higher rates than drivers with clean records — even one or two infractions can cause insurers to increase your rates.
Take a look at the table below to see just how much your rates can increase after an incident in Colorado, according to Compare.com data.
Driving Record ▲▼ | Statewide Average Monthly Premium ▲▼ | Cheapest Insurer ▲▼ | Cheapest Insurer’s Average Monthly Premium ▲▼ |
|---|---|---|---|
| Clean record | $157 | State Farm | $48 |
| Speeding ticket | $224 | State Farm | $63 |
| At-fault accident | $217 | State Farm | $63 |
| DUI | $249 | State Farm | $77 |
Even a single speeding ticket causes rates to increase by an average of 27% nationwide, according to Compare.com data. That’s because a ticket tells insurers that you’re not a safe driver and that you’re more likely to cause an accident, so they charge you higher rates to compensate for the added risk.
While the average Coloradan with a speeding ticket pays around $224 per month for coverage, State Farm costs an average of just $63, making it the cheapest insurer for these drivers, according to our data.
An at-fault accident typically results in your insurer increasing your rates — often substantially. In fact, car insurance companies increase rates by an average of 34% nationally after an at-fault accident, according to Compare.com data.
If you cause an accident, you can expect to pay around $217 per month for car insurance in Colorado, according to our data. But State Farm is the cheapest insurer for drivers after an at-fault accident, with an average monthly rate of $63.
Insurance companies don’t take DUIs lightly. If you’re convicted of driving under the influence (DUI), your car insurance rates will likely skyrocket. In fact, insurers increase rates by an average of 50% nationwide after a DUI, according to Compare.com data.
In Colorado, that means you can expect to pay around $249 per month for coverage — much more than the average driver pays. Even so, State Farm offers reasonable rates for drivers with a DUI, with an average monthly premium of $77.
Liability insurance is mandatory to drive on Colorado roads. Minimum auto insurance requirements in Colorado are:
$25,000 of bodily injury (BI) coverage per person
$50,000 of BI coverage per accident
$15,000 of property damage coverage
That said, insurance agents and experts recommend buying enough liability coverage to protect your assets, which is often more coverage than the state mandates. You should also consider comprehensive and collision coverage, especially if you can’t afford to repair your car after an accident. Finally, consider optional coverages that might be worthwhile, like gap insurance, rental reimbursement, and medical payments coverage.
Although not required, uninsured/underinsured motorist coverage is another valuable option. Since Colorado is the ninth-highest state for rate of uninsured drivers, having uninsured motorist coverage can help pay for losses these drivers cause.
Driving without auto insurance in Colorado comes with the following penalties:
Minimum $500 fine
Potential license suspension
Potential SR-22 insurance requirement
Up to 40 hours of community service
For subsequent offenses within five years, the fine increases to $1,000 and up to eight months of license suspension. The cost to reinstate your driver’s license is $95; you could also have to pay court fees and other expenses.
An SR-22 is a certificate of financial responsibility that proves you have at least the state-minimum auto insurance. Drivers with suspended or revoked licenses in Colorado typically have an SR-22 requirement to meet. The most common reasons for license suspension or revocation are driving without insurance and getting a DUI.
Uninsured motorist coverage may pay if someone without insurance hits you or you end up being the victim of a hit-and-run. On the other hand, underinsured motorist coverage can pay for your damages if someone hits you but doesn’t have enough coverage to pay all your medical and repair bills.
Although there isn’t an uninsured and underinsured motorist coverage requirement in Colorado, it may be worth the extra cost — Colorado has the ninth-highest rate of uninsured drivers, at 17.5%, according to the Insurance Information Institute (Triple-I).
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With higher-than-average insurance rates, you should consider these five tips to get cheap car insurance in the Centennial State:
Bundle policies to maximize savings. If you own more than one car or rent your home, bundling all your insurance policies with the same company might lower your overall insurance costs.
Raise your deductibles. “Increasing your comprehensive and collision deductibles can significantly affect your premiums,” advises Tariro Goronga, CEO of Colorado-based DriveSafe Driving Schools.“ Just make sure you can pay the higher out-of-pocket amount should you need to file a claim.”
Ask about eligible discounts. Insurance companies’ discounts can vary, so ask about what’s available to take advantage of what you’re eligible for.
Maintain a clean driving record. “Practicing safe driving habits can help keep your rate affordable” and make you eligible for a safe driving discount, advises Goronga.
Shop regularly and compare quotes. “Comparing car insurance quotes from multiple companies can help you find the best rate possible” without sacrificing needed coverages, says Goronga.
Compare personalized quotes from the cheapest insurers in Colorado.
If you still have questions about Colorado auto insurance, check out these answers to common questions below.
State Farm has the cheapest auto insurance in Colorado, with an average rate of $48 per month, according to Compare.com data.
Car insurance in Colorado costs an average of $157 per month, according to Compare.com data. Drivers throughout the state pay a monthly average of $99 for liability policies and $215 for full coverage.
The state-minimum car insurance in Colorado is $25,000 per person and $50,000 per accident in bodily injury liability insurance, along with $15,000 in property damage liability insurance.
Rocky Mountain Insurance Information Association, “Colorado Auto Insurance Requirements,” accessed November 19, 2024.
J.D. Power, “2024 U.S. Auto Insurance Study,” accessed November 19, 2024.
AM Best, “AM Best Affirms Credit Rating of American Family Mutual Insurance Co,” accessed November 19, 2024.
National Association of Insurance Commissioners, “Consumer Insurance Search Results,” accessed November 19, 2024.
Centers for Disease Control and Prevention, “Risk Factors for Teen Drivers,” accessed November 19, 2024.
Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.
All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.
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Danny Smith is a licensed property and casualty insurance agent who has written for Compare.com since 2024. A former insurance editor, he specializes in auto, home, and pet insurance. He works to translate his insurance expertise into digestible, easy-to-understand content for drivers, homeowners, and pet owners alike.
Lequita Westbrooks is an insurance editor at Compare.com. Her writing and editing experiences span several industries, including insurance, personal finance, higher education, and more. She excels at explaining complex topics like auto insurance in simple, easy-to-understand language and is passionate about helping readers save money. Lequita graduated from the University of South Florida, where she earned her Bachelor’s degree in English.
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