Cheapest car insurance in Colorado 2023

Note from the editor: Perhaps you are looking for car insurance for your first time, or you want to shop for insurance to lower your monthly premium. This article is a good starting point to your research on car insurance. There are many factors that affect the cost of car insurance. While you might not […]

Note from the editor: Perhaps you are looking for car insurance for your first time, or you want to shop for insurance to lower your monthly premium. This article is a good starting point to your research on car insurance. There are many factors that affect the cost of car insurance. While you might not be able to see exact premiums, they will give you an idea about the best rates available in your area.

Colorado has it all, whether you are looking for stunning views or vibrant food scenes. You’ll be able to save more on your next adventure because you will pay less for car insurance.

To calculate the average cost for car insurance in Colorado, we looked at basic car insurance rates from a variety of companies.

We used a fairly neutral driver profile (no tickets, accidents, or claims) to calculate rates and compare them evenly. We know that everyone is different so we looked at other factors that can affect car insurance such as your driving record, credit scores, and age to find affordable car coverage for many different drivers.

Continue reading to find out about Colorado’s average car-insurance rates. We also reveal our findings regarding the most affordable basic coverage options in Colorado.

Colorado car insurance for cheap

Colorado’s average monthly premiums for basic auto insurance range from $55 to $140 per lună, depending on what type of coverage is selected and the driver profile.

Monthly average auto insurance premiums in Colorado

Driver and coverage	Avg. Monthly cost
Colorado has a minimum state-required car insurance	$58.34
Colorado drivers with bad credit	$91.60
Multiple claims drivers in Colorado	$138.33
Young drivers in Colorado	$100.88

The cheapest Colorado car insurance companies

Grange and American National P&C offered the most affordable insurance policies for Colorado drivers in almost all cases. We calculated the minimum coverage rates for Colorado’s five most affordable car insurance companies based on a Colorado driver’s profile. This may include factors such as age and driving history. (See full methodology).

There are many factors that affect your insurance premium. If this is you, then we will show you how to find the best car insurance in Colorado. We’ll also be looking at younger drivers and their excellent credit.

1. American National P&C

The Colorado driver profile may qualify for basic car insurance at American National P&C starting at $23.58 per monthly. Additional coverages include gap insurance, 24-hour roadside assistance and Added Coverage Endorsement (ACE), which covers replacement parts. American National offers several discounts for bundling policies, and is completely unaffected by claims.

2. Grange

Grange, a company based in Ohio sells insurance only through agents. Grange could offer minimum car insurance for Colorado drivers for as low as $29.33 per monthly. Aside from the standard coverage options, Grange also offers uninsured/underinsured motorist coverage, roadside assistance and new car replacement. Grange offers OnTrack, a savings program for drivers that rewards them for keeping track of their safe driving habits via their smartphones.

3. Colorado Farm Bureau Mutual

Colorado Farm Bureau Mutual offers car insurance for our Colorado driver profile for as little as $35.42 per month for basic auto coverage. Colorado Farm Bureau Mutual has agents located throughout Colorado. They offer auto, home, farm, ranch, life, and business insurance. The app allows you to view your policies, make a claim, call an agent and request emergency roadside assistance, 24 hours a days.

4. USAA

USAA provides insurance coverage for U.S. military personnel, their spouses, and children. For $36.91 per monthly, basic car insurance could be available from USAA to Colorado drivers. USAA offers many discounts including multipolicy discounts and multicar discounts, automatic payments discounts and discounts for parking your car in a garage at a military base. Drivers can save up to 30% by using the USAA SafePilot program.

See more USAA Auto Insurance reviews.

5. Geico

For as low as $41.61 per monthly, our Colorado driver profile could get car insurance on basic coverage from Geico. Geico offers a wide range of discounts for vehicle equipment and driving habits, driver education, loyalty, driver affiliations, and loyalty. Geico offers more than just full-coverage. It also provides 24/7 roadside assistance, rental reimbursement, and mechanical breakdown insurance.

See more reviews about Geico auto insurance.

The cheapest state-minimum car coverage in Colorado

Sometimes you only need the minimum coverage to keep your vehicle legal. You should look for Colorado’s minimum insurance.

Five auto insurance companies were found that had the lowest rates for drivers who are looking for state-minimum coverage.

5 cheapest car insurance picks in Colorado for state-minimum coverage

1	American National P&C	$23.58/month
2	Grange	$29.33/month
3	Colorado Farm Bureau Mutual	$35.42/month
4	USAA	$36.91/month
5	Geico	$41.61/month

Best car insurance for people with good credit in Colorado

Because companies believe you are less risky, good credit can lead to lower car insurance rates. It’s also important to have good credit , and a clean driving record.

These five companies could offer the best basic coverage on car insurance for Colorado drivers with excellent credit.

The cheapest Colorado car insurance companies for people with good credit

1	American National P&C	$16.08/month
2	Grange	$26.50/month
3	Colorado Farm Bureau Mutual	$29.11/month
4	USAA	$32.63/month
5	Geico	$37.73/month

Lowest car insurance in Colorado for people with poor credit

Insurance companies consider more than your credit score when deciding the monthly premium cost. If you have poor credit, it is possible to still get affordable car insurance.

These five companies may be able to offer you cheap car insurance with minimum coverage if you are still trying to improve your credit score.

The cheapest car insurance in Colorado for people with bad credit

1	Grange	$38.33/month
2	Geico	$49.24/month
3	Nationwide	$64.38/month
4	USAA	$65.61/month
5	Colorado Farm Bureau Mutual	$68.13/month

The cheapest car insurance for drivers who have multiple claims in Colorado

Insurers will consider the cost of insurance if you have made any insurance claims in the past. Car insurance may cost slightly more to drivers with multiple claims than those without.

These companies provide the best basic insurance for Colorado drivers who have multiple claims.

The cheapest Colorado car insurance companies for multiple claims

1	American National P&C	$43.92/month
2	Grange	$54.00/month
3	Colorado Farm Bureau Mutual	$56.08/month
4	American Family	$73.35/month
5	Geico	$97.81/month

Cheapest Colorado car insurance for young drivers

Insurance underwriting is about risk. Many insurance companies think younger drivers are more risky than drivers with more experience. Younger drivers tend to pay more for insurance.

These companies offer the lowest rates for basic coverage for drivers aged 18-21 years old.

Top 5 Cheapest Car Insurance Companies in Colorado for Young Drivers

1	American National P&C	$45.25/month
2	Geico	$57.60/month
3	Grange	$65.83/month
4	USAA	$70.91/month
5	Colorado Farm Bureau Mutual	$72.67/month

Colorado auto insurance requirements

Colorado law requires $25,000 to cover bodily injury for one person and $50,000 for total bodily injuries in an accident. The law also requires $15,000 to cover property damage from one accident. Your lender might have additional requirements if you lease your car.

Colorado has usage-based insurance.

UBI (usage-based insurance) is vehicle insurance which allows customers to pay premiums according to their driving habits. Colorado has many companies that offer usage-based insurance.

FAQs regarding the lowest car insurance rates for Colorado

Methodology

Based on a profile of a Colorado driver between 36 and 45, the estimated rates in this article are the lowest. These rates assume that there is only one driver on the policy, with no driving tickets and no claims. This estimate assumes that the vehicle is worth between $20,000 to $30,000 with an annual mileage of 12,000-15,000.

Quadrant Information Services provides rates every six months. Quadrant Information Services does not include all insurance companies in the rate data. These rates are estimates and should not be used as a comparison. Rates can vary depending on many factors such as your age, driving habits, and past.

The average monthly premium for full-coverage car insurance covers bodily injury, property damages, personal injury protection, collision, and comprehensive coverages. The Colorado-mandated 25/50/15 policy is included in the average monthly premium for minimum state-mandated car insurance. Scores of 720 or higher are eligible for the insurance rates for good credit. Rates for insurance for people with poor credit range from 350 to 579. The estimated rates for young drivers are those aged 18-21. Rates for multiple claims are based on two claims.