Colorado Auto Insurance (2023)

Although Colorado doesn’t have an enormous population, drivers in the Centennial State pay about 10% more for car insurance than the national average. While many factors contribute to the state’s higher rates, heavy traffic, increasing car thefts, and winter weather risks play a significant role.

Despite slightly higher average rates, it’s not impossible to find affordable insurance in Colorado. Nationwide, State Farm, and Geico are often the cheapest options for car insurance in Colorado, though you might find a better alternative based on your unique factors.

Read on to learn more about car insurance in Colorado and the companies with the lowest prices. Then, compare auto insurance rates with as many Coloradan companies as possible to find the best rates for you.

Which companies have the cheapest auto insurance in Colorado?

The average Colorado driver pays about 10% more for insurance than in other states. This slight price increase comes from several factors, including heavy traffic in cities like Denver, high car theft rates in four major cities, and increased risk of accidents during winter weather.

The insurance companies with the cheapest overall rates in Colorado are Nationwide, Geico, and State Farm. However, you’ll need to compare quotes between companies to find the lowest rates for your unique situation.

The cheapest car insurance companies are a great place to start your search for affordable coverage. You can explore the companies offering the lowest average rates for various demographics below, but you should still compare quotes before signing up.

Read our Geico auto insurance review to find out.

Minimum Insurance Rates in Colorado

Most states require car insurance before registering your car or driving on a public street, and Colorado is one of them. The minimum auto insurance requirements by state may vary, but basic coverage is your cheapest option in Colorado, especially since state requirements are relatively low. You’ll need the following insurance before you can drive in Colorado:

• Bodily injury liability — $25,000 per person
• Bodily injury liability — $50,000 per accident
• Property damage liability — $15,000 per accident

Coloradans don’t need other coverage types like personal injury protection or uninsured motorist insurance. However, insurance companies in Colorado must offer you uninsured motorist and medical payments coverage before you can sign a policy.

If you’re interested in finding the most affordable auto insurance quotes in Colorado, you can get an idea of what you might pay below.

Geico and State Farm are the cheapest options in Colorado, with Nationwide taking a distant third. No matter which company you choose, you’ll pay less for minimum insurance than full coverage.

If you don’t want to buy car insurance, you can self-insure. To do so, you can apply for a certificate of self-insurance from the state Insurance Commissioner, guaranteeing you can pay for damages you cause in an accident. However, this option costs more than paying for minimum insurance.

Full Coverage Rates in Colorado

Colorado state law doesn’t require drivers to buy full coverage, but you’ll probably need it if you have a car lease or loan. Full coverage auto insurance refers to a suite of car insurance products protecting your car from the most common incidents that can damage it.

If you decide to buy full coverage in Colorado, your policy will include the following policies:

• Bodily injury liability. Bodily injury liability covers injuries you cause to other drivers, passengers, or pedestrians in an accident.
• Property damage liability. This liability insurance pays for damage you cause to cars, buildings, and other property types. It doesn’t cover your vehicle.
• Collision. You need collision coverage if you want your insurance to cover your car in an accident. Collision insurance also covers you if you hit a stationary object.
• Comprehensive. There’s a lot more than collisions that can damage your car. Comprehensive insurance covers your vehicle from extreme weather, fire, vandalism, theft, and animal contact.
• Uninsured/underinsured motorist. Colorado requires drivers to carry insurance, but not everyone follows the law. Uninsured motorist coverage helps cover your damage caused by another driver with no insurance, insufficient insurance, or a hit-and-run-driver.
• Medical payments. Medical payments insurance pays for medical expenses after you or your passengers get injured in an accident, no matter who was at fault.

While full coverage offers excellent protection for your car, it costs more than minimum insurance. There are various factors that affect auto insurance rates, but you can get an idea of how much you might pay for full coverage below.

For full coverage, State Farm and Nationwide have the cheapest average rates. The third-cheapest option — Geico — is nearly $40 a month more expensive, despite being one of the most affordable options for minimum insurance.

Read our State Farm auto insurance review to find out more.

Colorado Car Insurance Rates by Age and Gender

As mentioned, car insurance companies consider several factors to craft your rates. Two of the most influential elements of your rates are your age and gender. Average auto insurance rates by age may differ depending on the insurance company. 

Young people pay more for insurance because they’re statistically more likely to engage in reckless behaviors, drive distracted, and cause accidents. They also lack the experience to handle dangerous situations on the road.

Similarly, men are more likely than women to engage in dangerous driving behaviors, like not wearing a seat belt or driving under the influence.

For these reasons, young drivers and men pay more for insurance. However, there’s some good news — your rates will lower around age 25 if you keep your driving record clean. The price gap between genders also lessens with age.

Colorado teens pay about 10% more for insurance than the national average for young drivers and three times more than older Coloradans. Nationwide often has the cheapest rates for young drivers, but you should always look at multiple companies before signing up for a policy — you might find better prices elsewhere.

Colorado Car Insurance Rates by Credit Score

Most states allow companies to use credit scores to determine insurance rates, and Colorado is one of them. Auto insurance and your credit score can affect each other in a couple key ways. 

The first way is that companies assume people with higher scores are more likely to pay their monthly bills on time. Secondly, people with lower scores are statistically more likely to get into accidents.

Colorado drivers with low credit scores pay up to 52% more for car insurance than people with higher ratings. However, some companies are more forgiving than others, and you can check which offers better rates below.

Once again, Nationwide has the cheapest average for insurance in Colorado if you have a low credit score. Geico and State Farm also offer lower rates but cost significantly more than Nationwide.

If you have a low credit score, you don’t need to be stuck with high rates forever. If you increase your credit score, your insurance rates will drop.

Colorado Car Insurance Rates After an Accident

While many factors go into your insurance quote, they all work together to predict your riskiness. Insurance companies charge more for people they think will file a claim in the future, and your driving record is one of the most telling factors for your risk.

Accidents on your driving record can increase your rates by up to 42%, and if you have too many, you’ll need to find high-risk auto insurance. However, some companies are a little more lenient than others — check average Coloradan rates after an accident below.

Although Nationwide is usually the most affordable company, State Farm offers the lowest rates after an at-fault accident. Nationwide is $41 more expensive, and Farmers comes in third place, costing over $100 more.

Rates after an at-fault accident are always more expensive, but they won’t stay high forever. If you can keep your driving record clean of additional accidents and other incidents, your rates will return to normal in about three years.

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Which cities have the cheapest car insurance in Colorado?

From little ski towns like Breckenridge to the largest city in the state, Denver, Coloradans have various beautiful choices. Of course, living in a big city usually comes with higher rates, but you can check which towns have the lowest rates below.

As you might expect, car insurance rates in Denver, Colorado Springs, and Aurora are some of the highest in the state. These cities are some of the most densely populated in Colorado, resulting in more traffic, higher car theft rates, and accidents. Also, auto insurance rates by ZIP code may differ. 

How much do drivers pay for Colorado car insurance after a DUI?

Of all the things you can do to increase your car insurance rates, getting a DUI is one of the worst. DUIs can increase your rates by up to 74% and carry legal fees, license suspension, and jail time. Is cheap auto insurance with a DUI possible?

Like at-fault accidents, some companies are more forgiving than others after a DUI. However, remember that some companies refuse to work with drivers after even one DUI — you’ll need high-risk insurance if you can’t find standard insurance.

Check below to see how much insurance costs after a DUI for the average driver in Colorado.

State Farm has the lowest rates for Colorado drivers after a DUI, with Progressive taking a distant second place. While Nationwide is usually one of the cheapest options in Colorado, it’s nearly $70 more expensive than Progressive.

Therefore, it’s important to compare rates after you get a DUI, even if you already have insurance. However, you don’t need to pay high prices forever. If you avoid adding incidents to your record, a DUI stops affecting your rates after seven years.

What are Colorado’s DUI laws?

Colorado splits its DUIs into three categories based on the level of intoxication.

The three categories are:

• DUI. Driving while under the influence of drugs or alcohol qualifies as a DUI, no matter how intoxicated you are.
• DWAI. A DWAI — or driving while ability impaired — is reserved for drivers with a blood alcohol content level between 0.05% and 0.08%.
• DUI per se. DUI per se means you drove with a blood alcohol content of 0.08% or higher.

DUI laws in Colorado are complicated, but you can get an idea of what penalties you might face below:

• DUI/DUI per se first offense. Up to 365 days in jail, a $1,000 fine, an ignition interlock device (IID) installed in your car for eight months, a nine-month license suspension, and 96 hours of community service.
• DUI/DUI per se second offense. Up to 365 days in jail, a $1,500 fine, an IID for five years, an indefinite period for license suspension, and 120 hours of community service.
• DUI/DUI per se third offense. Up to 365 days in jail, a $1,500 fine, an IID for five years, a one-year license suspension, and 120 hours of community service.
• DWAI. Up to 180 days in jail, a $500 fine, and 48 hours of community service.

You’ll also need to complete an alcohol or drug evaluation and any educational programs the state recommends. All fees associated with alcohol educational courses fall on the driver.

As for probation, you’ll face at least two years after your second DUI offense.

What are Colorado’s car insurance laws?

You already know how much insurance you need to drive or register your car in Colorado, but you should learn about other coverage laws in the Centennial State.

Coloradans must show proof of insurance upon request from any law enforcement.

If you’re driving without insurance, you’ll face heavy consequences, like:

• Four points on your license
• $500 fine
• License suspension until you submit proof of insurance to the DMV

Driving without auto insurance comes with harsh consequences. You’ll face harsher consequences beyond your first offense. For example, you’ll have a $1,000 fine and a four-month mandatory license suspension for your second offense. Additional offenses come with a $1,000 fine and a license suspension of up to eight months.

Courts might also order 40 hours of community service for any charge of driving without insurance. After your second offense of driving without Colorado auto insurance, you’ll face up to a year in jail.

You’ll also need to file SR-22 insurance for three years after driving without insurance.

Unlike many other states, Colorado requires a minimum amount of insurance for various alternative vehicles. For example, scooter drivers need a valid license to meet the state’s minimum scooter insurance requirements.

What optional car insurance options can you buy in Colorado?

While liability insurance is a requirement in Colorado, buying more coverage for your vehicle is never a bad idea. Insurance companies offer add-ons to increase your policy’s value and car protection.

Popular add-ons in Colorado include:

• Roadside assistance. Roadside assistance comes to the rescue when you get stranded on the side of the road. Most plans include towing, battery jumps, tire changes, fuel delivery, and locksmith services.
• Accident forgiveness. If you buy accident forgiveness, your insurance company forgets your first accident. Most companies require drivers to be accident-free for some time before qualifying.
• Rental car reimbursement. This add-on covers you if you need a rental car while your vehicle gets repaired after a covered accident.
• Custom parts and equipment. A standard policy only covers the parts your car comes with. If you customize your vehicle, you’ll need custom parts and equipment insurance to cover it.
• GAP coverage. GAP insurance covers the difference between the remainder of your car loan and your car’s actual cash value if your car gets totaled.

Although add-ons increase your policy coverage, you should be mindful of what you buy. Extra coverage can significantly increase how much you’ll pay for insurance.

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Do you need SR-22 insurance in Colorado?

While you’ll often hear it referred to as insurance, SR-22s are not a form of coverage. Instead, SR-22s are a form the Colorado DMV requires drivers to file after certain driving incidents. An SR-22 form proves you’ve purchased enough coverage to meet Colorado’s minimum insurance requirements.

You’ll probably need to submit SR-22 insurance after the following incidents:

• DUI/DWAI/DUI per se charge
• Driving with a suspended license
• Driving without insurance
• Multiple traffic tickets in a short period

Though every situation is different, most drivers must submit continuous SR-22 insurance for three years. However, the DMV won’t accept your form if you file it yourself. Instead, you’ll need an insurance company to file for you.

How do you get SR-22 insurance in Colorado?

While it’s not fun to need SR-22 insurance, getting it in Colorado isn’t usually a challenge. SR-22 insurance costs more than a standard policy, and some companies might reject applicants they consider too high-risk, but it’s generally easy to find.

When you need SR-22 insurance, it’s important to research your options, even if you already have a policy. People with insurance policies have the easiest option to get SR-22 coverage since most companies are willing to file for you. If you already have insurance, you should still compare rates with other companies to ensure you get the best price.

To add SR-22 coverage to an existing policy, call a representative and tell them what you need. Most companies charge a filing fee of about $25 a month, but it will keep you driving.

Applying for SR-22 insurance works the same for people without a current policy as for standard coverage. Let the company know you need it to file SR-22 forms on your behalf. Some companies will reject your application, but most provide coverage without a problem.

When you need SR-22 insurance, Colorado will likely suspend your license until you submit proof. That’s easy enough when you have a car, but how do you buy insurance if you don’t own a vehicle?

An easy solution if you find yourself in this situation is a non-owner auto insurance policy. Unlike standard car insurance following the vehicle, non-owner insurance follows you, meaning you’re covered no matter what car you drive. It also allows you to purchase the state minimum requirements in Colorado to get your license reinstated.

How can Colorado drivers save money on their car insurance?

Since Colorado drivers pay about 10% more for car insurance than the national average, finding ways to save is crucial.

Consider the following tips to keep your insurance costs as low as possible:

• Find discounts. Insurance companies offer various discounts to help customers save money. You’ll need to check which discounts are available with your company, but common options include good student, safe driver, and bundling discounts.
• Lower your coverage. While add-ons and optional insurance protect your car better, you should choose a lower coverage amount if you need to keep your budget tight.
• Keep your driving record clean. As you saw above, having incidents on your driving record can lead to incredibly high rates.
• Raise your deductible. Deductibles are what you must pay before your insurance kicks in, and most companies give you a few options. If you choose a higher deductible, your monthly rates will be lower.
• Consider usage-based insurance. Most companies offer a usage-based insurance program that tracks your driving behavior in exchange for lower rates.
• Compare quotes. Comparing quotes is one of the most important aspects of looking for affordable rates. If you sign up for the first policy you look at, you’ll most likely overpay.

While comparing auto insurance discounts and choosing the right coverage level is important, comparing quotes is the most vital step to finding affordable insurance.

Find the Best Colorado Car Insurance Rates Today

Drivers in the Centennial State pay about 10% more for car insurance than the rest of the country, so finding affordable coverage is a little more difficult. However, Nationwide, State Farm, and Geico are solid places to start looking.

While these companies have the lowest average rates for various demographics, your quote will consider your situation. Compare rates with as many companies as possible before you sign up to find the best price.

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