Best Car Insurance in Colorado

Last Updated on January 13, 2021

Car insurance is relatively expensive in Colorado. As of 2021, drivers in Colorado pay higher car insurance premiums than all but just 10 other states. The average driver in Colorado pays approximately $1,763 per year for full coverage car insurance.

Fortunately, there are ways to save on car insurance in Colorado. By shopping around for good car insurance companies, taking advantage of discounts, and customizing coverage, you can pay less than the average Colorado driver.Best Car Insurance in Colorado

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Top 10 Auto Insurance Companies in Colorado

Drivers in Colorado have plenty of options for car insurance, including local companies, nationwide organizations, and more. The top 10 best auto insurance companies in Colorado include all of the following:

1. USAA

USAA is the cheapest car insurance provider in many states. However, USAA car insurance is only available to USAA members, and USAA membership is restricted to military personnel and their families (or the families of current USAA members). If you qualify for USAA car insurance in Colorado, you could pay as little as $695 per year for full coverage car insurance with USAA.

2. American National

Although not as well-known as other companies on this list, American National offers strong coverage throughout Colorado, and they’re one of the best-known insurance providers in the state. American National offers affordable car insurance across Colorado, with the average driver paying roughly $702 per year for full coverage car insurance with American National.

3. GEICO

GEICO, like USAA, is frequently ranked as one of the cheapest car insurance companies. GEICO offers discount car insurance with the amenities of a large, nationwide firm. Most Colorado drivers are satisfied with their GEICO policies, and the average driver pays roughly $742 per year for full coverage car insurance with GEICO in Colorado.

4. Allstate

Allstate is popular throughout the state of Colorado, with drivers in rural areas and big cities alike enjoying Allstate. You pay roughly $751 with Allstate in Colorado, assuming you’re an average driver looking for a full coverage car insurance policy.

5. Esurance

Esurance is well-rated and popular throughout Colorado, with drivers enjoying low rates along with the amenities of a large insurance provider. Esurance offers similar coverage to Allstate in Colorado, which makes sense because Allstate is Esurance’s parent company. However, some drivers – particularly young drivers – are able to enjoy lower rates with Esurance in Colorado. Expect to pay roughly $754 per year.

6. State Farm

State Farm is America’s largest car insurance provider, and more Colorado drivers insure their vehicles with State Farm than with any other insurance company. State Farm isn’t as affordable as providers listed above, but they’re known for strong claims satisfaction and customer service. Expect to pay higher rates on average with State Farm in Colorado, with rates priced around $1,132 per year for an average driver.

7. California Casualty

Popular among teachers and other professions, California Casualty is a niche insurance group in Colorado that may offer better coverage and rates for many drivers. If your union, employment organization, or other group partners with California Casualty, then you could enjoy discount rates on car insurance.

8. Grange Insurance Association

Grange Insurance Association is a popular and well-rated car insurance provider in Colorado known for its diverse products and services and strong customer service. It doesn’t have the name recognition as some of its larger competitors above, but Grange is popular throughout Colorado, especially with drivers looking for minimum liability insurance. You could pay as little as $313 per year for minimum liability insurance with Grange in Colorado.

9. Auto-Owners Insurance

Like Grange, Auto-Owners is popular among drivers looking for minimum liability coverage. If you want to legally drive without buying full coverage, then Auto-Owners Insurance may be the right choice for you. Auto-Owners charges as little as $434 for one year of minimum liability coverage in Colorado.

10. Progressive

Like other large insurance companies, Progressive keeps rates competitive while offering average customer service and claims satisfaction throughout Colorado. If you already have insurance through Progressive, then you might find lower-than-average rates with Progressive in Colorado. Progressive charges around $1,145 per year for full coverage car insurance in Colorado.

Colorado Insurance Requirements

Colorado, like most states, requires drivers to carry auto insurance. If caught driving without auto insurance, you could face severe penalties.

The minimum car insurance requirements in Colorado include:

  • $25,000 of bodily injury liability coverage per person
  • $50,000 of bodily injury liability coverage per accident
  • $15,000 of property damage liability coverage

Colorado is one of several states that allow drivers to self-insure a vehicle. Individuals with over 25 vehicles registered in their name could qualify for self-insurance in Colorado. You obtain a certificate of self-insurance from Colorado’s Insurance Commissioner, and the Insurance Commissioner verifies you have valid coverage. To self-insure a vehicle in Colorado, contact the Division of Insurance within Colorado’s Department of Regulatory Agencies.

Driving Without Insurance in Colorado

It is illegal to drive without insurance in Colorado. Drivers face penalties like imprisonment, license suspension, and vehicle impoundment.

Despite the penalties, approximately 16.2% of Colorado motorists drive without insurance, which is much higher than the nationwide average of around 12%. That means you’re more likely to collide with an uninsured motorist in Colorado than you are in other states.

If you are caught driving without insurance in Colorado, then you could face some or all of the following penalties:

  • Four points against your driver’s license
  • For first offense, minimum $500 fine and license suspension until you can prove you have valid insurance
  • For second offense, minimum $1,000 fine and four-month license suspension
  • For third and subsequent offenses, minimum $1,000 fine and eight-month license suspension
  • Up to 40 hours of community service

Depending on the situation, you may also need to pay a fee to reinstate your license. If your license is suspended, then you may need to obtain SR-22 insurance, which is a more expensive type of insurance designed for high-risk drivers.

For all of these reasons, it’s crucial to carry valid car insurance at all times when driving in Colorado.

Car Insurance in Colorado with DUI

All car insurance companies raise rates sharply after a DUI, although some companies are more forgiving than others. By comparing quotes, you can pay relatively low car insurance premiums even after your first or second DUI or DWI offense.

Some of the best Colorado car insurance companies for drivers with a DUI include:

  • American National: $1,569 per year
  • Esurance: $1,670 per year
  • GEICO: $1,704 per year
  • State Farm: $1,732 per year
  • Allstate: $1,754 per year

Car Insurance in Colorado with At-Fault Accidents

If you caused an accident in Colorado, then this accident remains on your record for up to 7 years, and insurers can check this record to assess your risk. Different insurers have different lookback periods, but you could pay 40% higher insurance premiums for years after an at-fault accident.

Fortunately, some car insurance companies are more forgiving for at-fault accidents than others, including the following companies:

  • USAA: $1,234 per year
  • GEICO: $1,423 per year
  • California Casualty: $1,502 per year
  • State Farm: $1,645 per year
  • Esurance: $1,655 per year

Car Insurance in Colorado with Speeding Tickets

Even minor speeding tickets could impact insurance premiums. Insurance companies may forgive one minor speeding ticket, but they’re less likely to forgive serious speeding offenses or reckless driving citations.

If you have a speeding ticket, consider requesting a quote from any of the following companies in Colorado:

  • State Farm: $932 per year
  • Esurance: $1,005 per year
  • GEICO: $1,015 per year
  • Allstate: $1,032 per year
  • Progressive: $1,041 per year

Car Insurance in Colorado for Young Drivers

Young drivers in Colorado face high insurance premiums because of risk. Statistically, young drivers are the riskiest drivers on the road to insure, so insurers charge higher rates.

However, some companies welcome young drivers into their insurance pools to balance out risk. Consider requesting a quote from the following companies if you are a young Colorado driver looking for car insurance:

  • American National: $1,508 per year
  • Esurance: $1,523 per year
  • State Farm: $1,536 per year
  • Allstate: $1,602 per year
  • GEICO: $1,762 per year

Car Insurance in Colorado with Poor Credit

Car insurance companies can use your credit score to calculate insurance premiums. Most insurance companies charge significantly higher rates to drivers with bad credit. However, if you have average to good credit, then it’s unlikely to impact your rates significantly.

If you have bad credit, consider requesting a quote from any of the following companies:

  • GEICO: $1,608 per year
  • Esurance: $1,611 per year
  • State Farm: $2,061 per year
  • Esurance: $2,666 per year
  • Grange: $3,001 per year

SR-22 Insurance in Colorado

Certain high-risk drivers in Colorado must provide an SR-22 certificate to reinstate a license. The Colorado DMV will notify you of any SR-22 insurance requirements. It’s a type of mandated liability insurance, and you must provide proof of coverage to reinstate your license.

SR-22 insurance is expensive in Colorado – just like it’s expensive in every other state. Only high-risk drivers require SR-22 insurance, and insurers charge high rates for coverage.

You may need SR-22 insurance in Colorado after an at-fault accident, a serious speeding violation, a hit-and-run, a DUI, or another serious offense.

Some drivers must obtain SR-22 insurance after a lapse in coverage. If you let car insurance lapse, or if you were caught driving uninsured, then you could be required to obtain SR-22 insurance.

All major insurance companies in Colorado provide SR-22 insurance. Although you’ll pay higher rates for coverage, you can save hundreds on SR-22 insurance in Colorado by comparing quotes online today. Some companies welcome high-risk drivers for their high premiums, while other companies charge prohibitively expensive rates for SR-22 insurance.

Conclusion: How to Find the Best Auto Insurance in Colorado

Car insurance in Colorado seems expensive, and drivers pay higher-than-average prices compared to the rest of the country.

However, by comparing quotes, taking advantage of discounts, and choosing the right company, you can save 50% or more while getting the best car insurance in Colorado.