Finding the best auto insurance in Colorado requires you to compare price quotes and research the insurance companies in your area. Like many states, the price of insurance in Colorado can vary because of factors such as age, gender, driving location, and driving history. Keep reading to learn more about the best rates for your insurance needs.
Auto Insurance Requirements in Colorado
Most states require a minimum level of auto insurance for you to drive safely and legally, and Colorado is no exception. In this state, you need an insurance policy that gives you at least the following:
- $25,000 for bodily injuries or death for one person per accident
- $15,000 for property damage per accident
- $50,000 for bodily injury or death for all people per accident
This means that the policy you choose to get must be able to cover at least that much in the event of an accident. Many drivers choose to pursue more coverage for other aspects of accidents that can happen to them or their vehicles. Getting insurance for your vehicle is important because driving a vehicle without proper insurance is a Class 1 misdemeanor. Drivers who don’t properly insure their vehicle might pay fines, get points on their license, have their license suspended, face imprisonment, and be assigned community service.
How Much Is Auto Insurance in Colorado?
The amount you pay for auto insurance in Colorado changes based on a variety of factors such as your age, gender, credit score, the current cost of your vehicle, and driving records. Comparing rates can help you choose the best insurance for your vehicle. Below are the rates for the largest providers of auto insurance in Colorado:
Allstate
For auto insurance rates, Allstate is a middle-tier company in Colorado. You can use it to help you protect yourself and your vehicle from a variety of situations, damages, and injuries. This company also offers reasonable rates for drivers throughout their lifetime, making them an excellent choice if you want to have one company with whom you build a client-organization relationship for your needs. Below are the annual rates for auto insurance from Allstate in Colorado:
- Average rate: $1,711
- Average rate for teens: $4,897 (female), $5,392 (male)
- Average rate for seniors: $1,489
- Average rate for drivers with poor credit: $2,694
- Average rate for excellent drivers: $1,631
- Average post-accident rate: $2,232
- Average post-DUI rate: $2,132
- Average minimum-coverage rate: $1,544
American Family Insurance
American Family Insurance is another middle-tier company you can use to get auto insurance. While it isn’t the most affordable in any category, it offers relatively consistent rates throughout your lifetime as a driver. This can be helpful if you want to plan your rates for a long period or throughout your lifetime. Below are American Family Insurance’s average annual insurance rates for Colorado:
- Average rate: $1,909
- Average rate for teens: $5,600 (female), $6,167 (male)
- Average rate for seniors: $1,682 (female), $1,693 (male)
- Average rate for drivers with poor credit: $2,990
- Average rate for excellent drivers: $2,013
- Average post-accident rate: $2,394
- Average post-DUI rate: $2,302
- Average minimum-coverage rate: $1,963
Geico
In Colorado, Geico boasts the best prices on average for auto insurance coverage because it offers competitive insurance rates for seniors, drivers with poor credit, and drivers with good driving records. As an organization with a long history in the insurance industry, it’s a trustworthy source for your insurance needs. Finally, Geico has the lowest rate in Colorado for the minimum coverage possible. These are Geico’s insurance rates in Colorado:
- Average rate: $1,106
- Average rate for teens: $3,438 (female), $3,547 (male)
- Average rate for seniors: $989 (female), $1,111 (male)
- Average rate for drivers with poor credit: $1,512
- Average rate for excellent drivers: $1,020
- Average post-accident rate: $1,677
- Average post-DUI rate: $1,968
- Average minimum-coverage rate: $932
Progressive
Progressive has the highest insurance rates in multiple categories for the state of Colorado. As an organization, Progressive receives ratings for its customer service as below-average while also achieving superior in other features of its services. It also supports reasonable rates once you’re no longer a teen driver. This means they can be a good choice if you want an insurance provider that supports you throughout your lifetime. Below are the average annual rates for auto insurance in Colorado from Progressive:
- Average rate: $3,024
- Average rate for teens: $11,445 (female), $12,935 (male)
- Average rate for seniors: $2,236 (female), $2,229 (male)
- Average rate for drivers with poor credit: $4,048
- Average rate for excellent drivers: $2,535
- Average post-accident rate: $4,004
- Average post-DUI rate: $2,818
- Average minimum-coverage rate: $2,387
State Farm
State Farm is a highly recognizable insurance company providing auto insurance for many situations. In Colorado, it’s one of the best insurance companies for teen drivers, who often have higher rates than other drivers because of their relative inexperience in driving vehicles. The company also has excellent rates for drivers who have experienced an accident and drivers who have a record stating a DUI. Below are the insurance rates for State Farm in Colorado:
- Average rate: $1,696
- Average rate for teens: $3,277 (female), $4,161 (male)
- Average rate for seniors: $1,147
- Average rate for drivers with poor credit: $2,664
- Average rate for excellent drivers: $1,306
- Average post-accident rate: $1,505
- Average post-DUI rate: $1,405
- Average minimum-coverage rate: $1,203
Searching for the best auto insurance in Colorado can take time, patience, and a lot of research and comparisons of different companies, like USAA vs. Geico or Progressive vs. State Farm. Geico is an excellent choice for many drivers, though State Farm in this state is a good choice for teen drivers. After you research your options, choose the one that’s best for your needs and meets your budget.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
