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Denver drivers pay an average of $163 per month for auto insurance, according to our analysis. But no matter what you currently pay, you can probably find ways to save by finding the right company.
State Farm, USAA, and American Family are just a few of the auto insurers offering Denver drivers affordable rates. In this guide, we’ll explore the cheapest coverage options and give you some strategies for saving on car insurance in the Mile High City.
Key Takeaways:
- Denver drivers pay an average of $96 per month for liability coverage.
- State Farm is Denver’s cheapest auto insurer, at $84 per month on average.
- Colorado requires 25/50/15 in minimum-liability coverage.
In This Article:
- Average Price for Car Insurance in Denver
- Cheapest Denver Car Insurance Companies
- Best Denver Car Insurance Companies of 2024
- Colorado Auto Insurance Requirements
- Denver Rate Breakdowns by Driver and Coverage Type
- Frequently Asked Questions
How Much Is Car Insurance in Denver?
On average, drivers in Denver pay $96 per month for liability-only insurance and $230 per month for full coverage. But car insurance costs vary from driver to driver based on a variety of factors, including age, driving record, credit history, and ZIP code.
Let’s take a look at some of the most affordable insurance companies in Denver.
Compare Quotes from Denver’s Cheapest Insurers
Denver’s Cheapest Car Insurance Companies
Even though Denver drivers pay some of the highest rates in Colorado, at $163 per month, drivers still have ways to save. Comparing quotes from multiple insurers can help you find the best car insurance company for your needs and budget.
The table below lists the cheapest car insurance companies in Denver, along with their average monthly premiums.
| Company | Average Monthly Premium |
|---|---|
| State Farm | $84 |
| USAA | $108 |
| American Family | $115 |
| GEICO | $128 |
| Allstate | $130 |
State Farm’s rates are the lowest in Denver, at $84 per month. But these are just broad averages — the cheapest insurance company for you will depend on your specific driver profile.
In the following sections, we’ll explore the cheapest companies across different demographics.
Top 3 Best Denver Insurance Companies of 2024
Many factors affect car insurance rates, including your age, your driving history, and the amount of insurance coverage you purchase. Due to these variables, there’s no single “best” company for everyone.
We chose the following companies based on a combination of average rates in Denver, available discounts, customer reviews, and coverage selections.
Here are the best insurers in Denver across three different categories.
Best overall value: State Farm
- Average premium: $57 per month
- Compare.com rating: 4.90 out of 5
Pros:
- Among the cheapest average rates in Denver
- Above-average J.D. Power customer satisfaction score
Cons:
- Doesn’t offer gap insurance
- May lack personalized attention of smaller insurers
State Farm offers some of the cheapest average rates in Denver for drivers of all ages and driving records. Whether you’re looking for full coverage or liability-only coverage, State Farm has the lowest rates. Plus, you can save even more by taking advantage of State Farm’s many discounts, including bundling discounts and safe driving discounts.
State Farm drivers won’t just get cheap car insurance — they’ll also enjoy quality customer service, judging by the company’s high J.D. Power score.
Best for safe drivers: American Family
- Average premium: $115 per month
- Compare.com rating: 4.98 out of 5
Pros:
- Among the cheapest rates in Denver
- Above-average J.D. Power customer satisfaction score
Cons:
- Only available in 19 states
- High rates for drivers with accidents/violations
American Family is a good option if you’re a driver who takes pride in avoiding at-fault accidents and traffic violations. The company offers a good driver discount for drivers who go five years without an accident, as well as a defensive driver discount for people who complete an approved driving course.
It may note be the cheapest option in Denver, so drivers looking for the most affordable option may want to compare personalized quotes to find the cheapest company. But taking advantage of discounts and signing up for American Family’s KnowYourDrive telematics program can help you save.
Best for military families: USAA
- Average premium: $108 per month
- Compare.com rating: 4.91 out of 5
Pros:
- Among the cheapest rates in Denver
- Above-average J.D. Power customer satisfaction score
Cons:
- Only available to military members and their families
- Mixed Better Business Bureau reviews
Colorado is home to several military bases. If you’re a military family living in Denver, USAA offers affordable rates, plenty of discounts, and a consistently high customer satisfaction record.
Unfortunately, USAA is available only to active service members, veterans, and their eligible family members. But these members can access a wide range of discounts and savings through USAA’s SafePilot telematics program.
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Cheapest Company for Liability Insurance: State Farm
The coverage level you choose for your insurance policy affects your rates. The lowest coverage level is liability-only coverage at your state’s minimum requirements — the cheapest option.
Liability-only insurance covers the other driver’s medical bills and vehicle repairs after you cause an accident, but your own vehicle’s repairs aren’t covered. The table below lists the cheapest car insurance companies in Denver for liability-only insurance.
| Company | Average Monthly Premium |
|---|---|
| State Farm | $57 |
| USAA | $72 |
| American Family | $78 |
| Sun Coast | $78 |
| State Auto | $79 |
State Farm is the cheapest auto insurance company in Denver for liability-only insurance, at $57 per month.
In the next section, we’ll explore the cheapest options for drivers who want a more robust full-coverage insurance policy.
Cheapest Company for Full-Coverage Insurance: State Farm
Full coverage includes collision coverage and comprehensive coverage, in addition to basic liability. These additional insurance coverages pay for damage to your own vehicle if you get into a car accident, regardless of who’s at fault. It also covers non-collision events, like severe weather or theft.
Choosing full-coverage insurance can be a good idea if you have a new or expensive car you want to protect — but remember full coverage comes with higher insurance premiums. The table below shows the cheapest full-coverage options in Denver.
| Company | Average Monthly Premium |
|---|---|
| State Farm | $111 |
| USAA | $144 |
| American Family | $153 |
| GEICO | $170 |
| Allstate | $172 |
Drivers in Denver looking for the cheapest full-coverage car insurance should consider State Farm, which has the lowest rates in the city at $111 per month.
Compare Denver Auto Insurance Rates by Driving Record
Your driving record is one of the most significant factors affecting your insurance rates. Insurers consider drivers with clean driving records less likely to file future claims, which leads to lower premiums.
Let’s look at how driving record affects rates in Denver. The table below explains the citywide average premium based on driving record, as well as the cheapest insurer for drivers with different infractions on their records.
| Driving Record | Citywide Average Monthly Premium | Cheapest Insurer | Cheapest Insurer’s Average Monthly Premium |
|---|---|---|---|
| Clean record | $96 | State Farm | $57 |
| Speeding ticket | $141 | State Farm | $73 |
| At-fault accident | $133 | State Farm | $74 |
| DUI | $153 | State Farm | $89 |
In the following sections, we’ll explore the cheapest car insurance companies in Denver for drivers with a speeding ticket, an at-fault accident, and a DUI.
Cheapest car insurance in Denver after a ticket: State Farm
Getting a speeding ticket raises your rates by 19%, according to Compare.com data. Speeding is a contributing factor in many accidents, so insurers will consider this a risky behavior when determining your rates.
State Farm is the cheapest option for drivers with one ticket on their record. Denver drivers with a ticket who choose State Farm pay $73 per month on average, which is still below the city’s average rate.
Cheapest car insurance in Denver after an accident: State Farm
Your rates will almost always go up after an at-fault accident. On average, your rates will increase by 24% after one at-fault accident, according to Compare.com data. Once you have an accident on your record, insurers see you as a greater risk for future accidents. To manage that risk, insurers charge higher monthly premiums.
State Farm drivers with an accident on their record pay the cheapest rates, $74 per month on average in Denver.
Cheapest car insurance in Denver after a DUI: State Farm
Getting a DUI on your record is one of the most severe traffic violations. Average rates rise by 47% after a DUI, according to Compare.com data. A DUI classifies you as a high-risk driver, which will cause insurance companies to charge you higher rates.
State Farm is the cheapest auto insurer in Denver for drivers with a DUI. Denver drivers who choose State Farm pay $89 per month on average after a DUI.
Colorado Auto Insurance Requirements
Colorado requires you to have minimal liability insurance to drive legally in the state. All Colorado drivers must purchase the following minimum limits:
- $25,000 in bodily injury liability insurance per person
- $50,000 in bodily injury liability insurance per accident
- $15,000 in property damage liability insurance per accident
Many car insurance experts recommend purchasing a coverage level that exceeds the minimum requirements in order to be fully protected. Insurers in Colorado must offer uninsured/underinsured motorist coverage, though policyholders have the option to waive this coverage.
For more on Colorado’s auto insurance laws, visit the Rocky Mountain Insurance Information Association site.
Compare Denver Auto Insurance Rates by Age
Your age is one of the most important rating factors when it comes to car insurance. Generally, your rates start out higher when you’re younger, then decrease as you age. But they may increase slightly in your 70s as your driving ability declines.
The following table also shows the cheapest insurer by age in Denver and its corresponding average monthly premium.
| Age Group | Citywide Average Monthly Premium | Cheapest Insurer | Cheapest Insurer’s Average Monthly Premium |
|---|---|---|---|
| Teens | $174 | State Farm | $99 |
| 20s | $121 | State Farm | $70 |
| 30s | $93 | State Farm | $55 |
| 40s | $82 | State Farm | $50 |
| 50s | $71 | State Farm | $45 |
| 60s | $63 | State Farm | $39 |
| 70s | $65 | State Farm | $38 |
Now, let’s break down the cheapest car insurance options for teen drivers and senior drivers in Denver.
Cheapest car insurance for Denver teens: State Farm
Teen drivers are by far the most expensive drivers to insure because they have a higher rate of serious accidents. Insurers manage the risks of insuring teen drivers by charging them a higher rate. Staying on their parents’ auto policy or qualifying for a good student discount can help young drivers save on car insurance.
State Farm offers the cheapest average car insurance policy for teens in Denver, at $99 per month, which is significantly lower than the citywide average for teen drivers.
Cheapest car insurance for Denver seniors: State Farm
Your auto insurance rates generally decrease near retirement age. Commuting less means lower mileage, which lowers your chance of getting in an accident.
Senior drivers pay the lowest rates on average when they choose State Farm. At just $39 per month, seniors with State Farm pay below the citywide average for car insurance.
How to Get Cheaper Car Insurance in Denver
Denver drivers can save on car insurance with the following strategies:
- Choose a safe car: Vehicles with advanced safety features and a strong safety record are typically cheaper to insure.
- Take advantage of discounts: Talk to your insurance agent about insurance discounts to see what you may qualify for. Consider bundling your auto insurance with homeowners insurance or life insurance to save.
- Raise your deductible: Drivers who pick a higher deductible generally pay lower monthly premiums. But consider that you’ll have to pay more out of pocket if you file a claim.
- Maintain good credit: You can save money on car insurance if you have a high credit score.
- Don’t buy too much coverage: Liability-only insurance may be enough if you drive a cheap used car that you wouldn’t repair after a serious accident.
- Shop around and compare quotes: Receiving car insurance quotes from at least five different insurers can help you find a rate that fits your budget.
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Denver Auto Insurance FAQs
Here are answers to some commonly asked questions about the cheapest car insurance in Denver.
Which company has the cheapest car insurance in Denver?
State Farm offers the cheapest auto insurance in Denver, at $57 per month for liability-only insurance and $111 per month for full coverage, according to Compare.com data.
How much is car insurance in Denver?
Car insurance in Denver costs an average of $163 per month, according to Compare.com data. This breaks down to $96 per month for liability-only insurance and $230 per month for full-coverage insurance. But your rate could be higher, depending on your unique profile.
How much car insurance does Colorado require?
Colorado law requires drivers to purchase $25,000 in bodily injury liability per person, $50,000 in bodily injury liability per accident, and $15,000 in property damage liability per accident.
What happens if you get caught driving without insurance in Denver?
If an officer catches you driving without insurance in Denver, you’ll receive four points on your driver’s license and a $500 fine for a first offense. The state will also suspend your license until you can show proof of insurance.
What is the cheapest full-coverage car insurance in Colorado?
GEICO offers the cheapest full coverage in Colorado at $75 per month on average, according to Compare.com data.
Data Methodology
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.
Sources:
- J.D. Power, “2023 U.S. Auto Insurance Study,” accessed May 14, 2024.
- Rocky Mountain Insurance Information Association, “Colorado Auto Insurance Requirements,” accessed May 14, 2024.
- Insurance Information Institute, “What determines the price of an auto insurance policy?,” accessed May 14, 2024.
- NSC Injury Facts, “Motor Vehicle Safety Issues,” accessed May 14, 2024.
- U.S. Center for Disease Control and Prevention, “Risk Factors for Teen Drivers,” accessed May 14, 2024.
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