How Much Does Car Insurance Cost in Colorado?
Colorado, often referred to as the “Centennial State,” is a land of captivating contrasts and breathtaking natural beauty for residents and drivers. Nestled in the heart of the Rocky Mountains in the American West, it’s a state that embraces the great outdoors like few others. Drivers can enjoy the national parks, including Rocky Mountain National Park, to hike, camp, and witness stunning alpine landscapes.
So, how much should you expect to pay on average for car insurance in Colorado?
Average Colorado Car Insurance Rates:
- State Minimum Liability: You can expect to pay $52 a month or $626 a year.
- Full Coverage: You can expect to pay $249 a month or $2,991 a year.
InsuranceQuotes cost rates are pulled from our real-time auto insurance database from recent quotes in your city – Rates are based on a used car driver who is single, middle aged & has a clean driving record. Read on to learn about the cheapest local rates filtered by insurance providers, new cars, vehicle types and age.
Drivers in CO should compare multiple car insurance coverage options that may be cheaper than the average rates – we will breakdown costs throughout this guide. Knowing average auto insurance costs beforehand is helpful when using InsuranceQuotes to compare free local and national provider quotes so you can know what to expect when searching for a new policy.
Who Has the Cheapest Car Insurance in Colorado
- In Colorado the cheapest auto insurance providers on average are GEICO, State Farm and Progressive.
- State minimum liability car insurance starts at $41 a month or $494 a year.
- Full coverage car insurance would cost around $230 a month or $2,991 a year.
Here is a breakdown of average costs from the cheapest local insurance providers in the state from our data set of used-car drivers who are single, middle aged and have a clean driving record:
| Insurance Provider: | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| GEICO | $494 | $41 | $2,761 | $230 |
| State Farm | $618 | $52 | $2,556 | $213 |
| Progressive | $661 | $55 | $3,194 | $266 |
| Allstate | $731 | $61 | $3,452 | $288 |
| Average Cost: | $626 | $52 | $2,991 | $249 |
Average Colorado Car Insurance Premiums by City
When comparing local car insurance premiums in Colorado, the city and zip code you live in will affect overall costs. Drivers living in more populated urban areas often pay more than those who live in rural areas with less population and potential for accidents. Use the table below to search for your city and see how much on average you should be paying locally for minimum and full coverage policies:
| CO City: | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| Acres Green | $1,140 | $95 | $4,235 | $353 |
| Agate | $856 | $71 | $4,794 | $400 |
| Aguilar | $750 | $62 | $4,050 | $337 |
| Air Force Academy | $1,063 | $89 | $4,355 | $363 |
| Akron | $773 | $64 | $4,350 | $362 |
| Alamosa | $867 | $72 | $4,125 | $344 |
| Alamosa East | $760 | $63 | $3,479 | $290 |
| Allenspark | $952 | $79 | $3,861 | $322 |
| Alma | $833 | $69 | $4,046 | $337 |
| Almont | $713 | $59 | $3,724 | $310 |
| Amherst | $751 | $63 | $4,238 | $353 |
| Anton | $780 | $65 | $4,249 | $354 |
| Antonito | $731 | $61 | $3,493 | $291 |
| Applewood | $1,040 | $87 | $4,177 | $348 |
| Arapahoe | $766 | $64 | $4,524 | $377 |
Popular Auto Insurance Cost Guides by City
See a more in depth guide for auto insurance costs broken down by popular cities in Colorado.
Colorado Auto Insurance Rates by Age
Colorado will use age as a factor that influences your auto rates and quotes you receive. Younger drivers tend to face higher annual premiums compared to mature, more experienced drivers.
Statistics show that younger drivers, particularly teenagers and drivers in their early twenties, are more likely to be involved in accidents due to their limited driving experience and potential risky behavior on the road. Drivers older than 25 will see a significant drop in their auto policy costs as they are moved into the middle aged cost tier group for coverage.
* Full Coverage – Average Costs by Age:
- 17 – 25 years: $6,036 yearly – $503 monthly
- 25 – 54 years: $2,624 yearly – $219 monthly
- 55+ years: $2,980 yearly – $248 monthly
* State Minimum Liability – Average Costs by Age:
- 17 – 25 years: $1,475 yearly – $123 monthly
- 25 – 54 years: $626 yearly – $52 monthly
- 55+ years: $730 yearly – $61 monthly
Here is a full breakdown of the average costs for car insurance by age in Colorado:
| Age: | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| 17 | $2,501 | $208 | $9,290 | $774 |
| 18 | $1,978 | $165 | $7,809 | $651 |
| 20 | $1,211 | $101 | $5,167 | $431 |
| 22 | $914 | $76 | $4,187 | $349 |
| 24 | $771 | $64 | $3,729 | $311 |
| 29 | $653 | $54 | $3,229 | $269 |
| 34 | $624 | $52 | $3,080 | $257 |
| 39 | $621 | $52 | $3,013 | $251 |
| 44 | $626 | $52 | $3,015 | $251 |
| 49 | $622 | $52 | $2,967 | $247 |
| 54 | $612 | $51 | $2,847 | $237 |
| 64 | $624 | $52 | $2,784 | $232 |
| 74 | $757 | $63 | $3,015 | $251 |
| 76 | $810 | $68 | $3,142 | $262 |
What are the Most Expensive Vehicle Types to Insure?
The type of vehicle you drive in Colorado will affect the overall costs of car insurance.
To determine how much you can expect to pay for your auto insurance based on vehicle type we averaged multiple cost quotes in CO and pulled data for vehicles such as a Toyota Camry, Chevrolet Bolt, BMW 4 Series, Honda CRV and Nissan Titan.
We pulled data from Colorado insurance policy cost records across multiple providers. Our table displays the average costs associated with vehicle types for state minimum vs. full coverage policies of a driver who is single, middle aged, has a clean driving record, for a used vehicle:
| Vehicle Type | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| Car (4door): | $670 | $56 | $2,394 | $199 |
| Truck: | $682 | $57 | $2,879 | $240 |
| Hybrid EV: | $655 | $55 | $2,740 | $228 |
| SUV: | $627 | $52 | $2,162 | $180 |
| Luxury Coupe: | $611 | $51 | $3,744 | $312 |
How Expensive is it to Insure a Brand New Car?
Drivers of brand new cars can often expect to pay more to insure their vehicles since they cost more to repair and have higher rates of theft. However, coverage is sometimes cheaper than older models of the same vehicle because of enhanced security features on newer models that lower your annual premiums.
We pulled insurance cost rates data for newer 2022-2023 vehicles below to give you an idea of the difference in coverage price for newer cars vs. used vehicles in Colorado:
| Vehicle Type | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| Car (4door): | $600 | $50 | $2,796 | $233 |
| Truck: | $637 | $53 | $3,361 | $280 |
| Hybrid EV: | $621 | $52 | $2,987 | $249 |
| SUV: | $577 | $48 | $2,386 | $199 |
| Luxury Coupe: | $579 | $48 | $4,459 | $372 |
How Much Does a Driving Record Violation Increase Insurance Costs?
Driving violations can have a significant impact on your car insurance costs in Colorado, as they indicate a higher level of risk to insurance providers. When you receive a driving violation, such as a speeding ticket or a DUI, your insurance company may consider you a higher-risk driver, which can lead to an increase in your insurance premiums for the foreseeable future.
Here is a breakdown of full coverage car insurance cost increases with driving violations:
- Clean Driving Record: Average annual premium cost of $2,479
- Speeding Tickets: 17% increase of an extra $429 a year at $2,908
- At-Fault Accident: 37% increase of an extra $918 a year at $3,397
- DUI/DWI: 28% increase of an extra $699 a year at $3,178
| Driving Violation: | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| Clean Record | $510 | $42 | $2,479 | $207 |
| 1 Speeding Ticket | $589 | $49 | $2,908 | $242 |
| 1 At-fault Accident | $723 | $60 | $3,397 | $283 |
| 1 DUI/DWI Violation | $682 | $57 | $3,178 | $265 |
How Much Car Insurance Do I Need in Colorado?
In Colorado, auto insurance is mandatory and regulated by the Colorado Department of Motor Vehicles (DMV). If you’re a driver in Colorado, your insurance policy must meet the following requirements:
- Bodily Injury Liability Coverage:
- $25,000 per person for bodily injury.
- $50,000 per accident for bodily injury if multiple people are injured.
- Property Damage Liability Coverage:
- $15,000 per accident for property damage.
These minimum liability coverage amounts are the absolute minimum required by law in Colorado. However, it’s important to note that these minimums may not provide adequate protection in the event of a serious accident. Medical expenses and property damage can easily exceed these limits. In which case additional coverage may be needed:
- Uninsured/Underinsured Motorist Coverage: This coverage protects you in case you’re involved in an accident with a driver who has little or no insurance.
- Collision Coverage: This covers the cost of repairs to your own vehicle in the event of an accident, regardless of who is at fault.
- Comprehensive Coverage: This coverage protects your vehicle from non-collision events, such as theft, vandalism, and natural disasters.
Colorado is also a “fault” insurance state, which means that injured persons have multiple insurance options after an accident. Personal Injury Protection (PIP) is not mandatory, but it can help you pay for medical bills if an accident was your fault.
The Colorado DMV also requires auto insurers to offer $5,000 in medical payment coverage. If you do not opt-out of this coverage, insurers automatically add medical payment coverage and its higher premium to your policy. Although it is not mandatory, medical payment coverage provides funds in an accident regardless of fault.
Finding Cheap Car Insurance with Discounts
If you are in need of cheap car insurance, Colorado rates can be decreased depending on your situation. Fortunately, you can find many discounts available when you’re searching for car insurance. Here are some things that can affect the price of your auto insurance policy:
- Age (those under 25 pay higher rates due to increased accident risk.)
- Gender (male drivers pay more for coverage).
- Marital status.
- Driving record.
- Credit.
- Where you live (some areas have a higher risk of theft.)
- Your vehicle (newer vehicles are typically cheaper to insure because of advanced safety features.)
A good way to find affordable coverage is to get insurance quotes from several companies. Try to get at least three different quotes and always ask the insurer about ways that it can help lower your costs.
Other ways you can save on auto insurance include:
- Requesting higher deductibles (for example $1,000 instead of $500.)
- Asking about discounts for vehicles with higher safety ratings.
- Asking about discounts for taking a Defensive Driving Course.
Moving to Colorado: Important Information
If you’re moving to Colorado, you have 30 days to obtain a Colorado driver’s license after becoming a resident. To get your license, you must go to the local DMV to fill out the application and provide proof of U.S. residency. You are also required to take a vision and aptitude test and surrender your out-of-state driver’s license. If you are under 18, your parent or legal guardian must sign an Affidavit of Liability.
You have 90 days after becoming a resident to register your out-of-state vehicle as well. To register your vehicle in Colorado, there are a few things you must do:
- Provide Certificate of Title.
- Complete DR 2395 Verification of the Vehicle Identification Number.
- Provide proof of insurance.
- Take an emissions test if applicable.
Understanding Driving Laws in Colorado
There are many laws that you need to know about before driving in Colorado. These laws can be confusing for out-of-state drivers and new residents.
You should know about seatbelt laws in Colorado, as these are strictly enforced. Drivers, front seat passengers, and any children up to 16 must wear a seatbelt at all times. Additionally, children from 4 to 7 years old must have a booster seat. Children from 1 to 4 must have a front-facing safety seat, and children under 1 must have a rear facing safety seat.
Driving under the influence of alcohol and/or drugs is quite different from other states. If you have a blood alcohol content of 0.05 percent or higher, you’ll face hefty fines and potential jail time. That figure is 0.08 percent in nearly every other state.
Frequently Asked Questions About Colorado Auto Insurance
Auto insurance can be difficult to understand. The following are some common questions that you may have about auto insurance in CO:
Are you covered while driving someone else’s car?
Car insurance always goes with the car and not the driver. If you get into an accident while driving someone else’s car, his or her insurance would cover damages. However, many insurance companies have strict rules that state you must be listed on another person’s policy to qualify for coverage, so this is important to note before getting behind the wheel of a car that isn’t yours.
Will basic insurance cover collisions with an animal?
Hitting deer and other animals is a common problem in Colorado, and your basic liability insurance won’t cover the damages. Collision coverage will cover damages to your vehicle, but even this policy won’t cover bodily injuries. A rider (add-on coverage) that covers medical expenses is a smart idea in Colorado, as it can help defray your medical costs whether you hit an animal, another vehicle, or anything else. Comprehensive coverage will cover damage to your car if you hit an animal.
What is the difference between collision and comprehensive coverage?
Collision coverage provides insurance when your car collides with another car or an object. Comprehensive coverage protects your vehicle against theft and any other kind of physical damage. Don’t forget that whichever type you choose for your car insurance, Colorado law only requires liability coverage in order to be legal in the state.
- About the Author
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Michael Giusti is a senior insurance analyst, business journalist, and university professor with over 20 years of experience. He serves as department chair at Loyola University New Orleans and contributes to Insurance Thought Leadership, U.S. News, and other leading financial outlets.
