What Used Cars are the Cheapest to Insure in Colorado?

Want to know the cheapest pre-owned vehicle to insure in Colorado? We researched insurance quotes in the state to save you the effort!

This article covers insurance basics for the state of Colorado and tips to save money on premiums. We also found the best insurance companies and answered frequently asked questions!

Colorado Cheapest Used Cars to Insure

We reviewed 45 vehicles from 2021 to identify the cheapest-to-insure vehicles. We used a basic driver profile with a Colorado resident address to obtain insurance quotes with the lowest average rates.

Here are the cheapest used cars to insure in Colorado:

1. 2021 CX-3 by Mazda

The 2021 Mazda CX-3 is the cheapest used car to insure in Colorado. The cost of full-coverage policy for this SUV with four doors and athletic styling is $133.96 per month, compared to the state average of $176. A liability-only policy is $48.78 per month, compared to the state average of $51.83.

The Mazda CX-3 offers an estimated 31 combined city/highway MPG. It also has ample safety options, including pedestrian-detection, blind-spot, and lane-departure warnings. The 2021 Mazda CX-3 was named an Insurance Institute of Highway Safety (IIHS) Top Safety Pick+ award winner.

2. 2021 XC40 by Volvo

The 2021 Volvo XC40 is the second-cheapest Colorado car to insure. It’s a four-door SUV with a practical, modern interior and connective technology. Full-coverage is $138.78 per month, which is less than the state average. A liability-only policy is $66.19 per month, which is over the state average.

The Volvo XC40 offers a combined city/highway 25 MPG. The XC40 is also an IIHS Top Safety Pick+ award winner.

3. 2021 Outback by Subaru

The 2021 Subaru Outback is the third-cheapest used car to insure in Colorado. It‘s a spacious SUV that’s perfect for adventurers and families. Full-coverage is $154.89 per month, which is less than the state’s average. A liability-only policy is $52.11, which is close to the state’s average.

The fuel economy of a Subaru Outback is 29 MPG combined city/highway. The IIHS awarded the Subaru Outback a Top Safety Pick+ award.

The 45 Cheapest Used Vehicles to Insure in Colorado

We obtained quotes for 45 vehicles on the IIHS Top Safety Pick+ list to find the cheapest used vehicles to insure in Colorado. We collected both full-coverage and liability-only insurance quotes to determine our rankings.

Here are the 45 cheapest used vehicles to insure in Colorado:

Full Coverage vs. Liability Insurance Costs

Liability-only insurance is cheaper than full coverage because it doesn’t cover property damage, theft, or weather-related damage.

The Best Colorado Car Insurance Companies

The three best automobile insurance companies in Colorado are American Family Insurance, State Farm, and USAA. We identified the best insurance companies using the Colorado complaint records.

We used the Colorado Department of Regulatory Agencies information to determine which insurance companies have the highest market share in Colorado, then we compared each provider’s market share with the number of complaints received.

Companies with lower Market-Share-to-Complaint Ratios indicate fewer complaints and happier claimants. You can see all of the rankings below.

The complaint index numbers from this chart refer to the National Association of Insurance Commissioners (NAIC) national numbers. A higher ratio indicates more complaints per customer base, whereas a lower ratio means fewer complaints.

Tips to Lower Insurance Premiums in Colorado

Drivers in Colorado can follow these tips to maximize discounts and minimize insurance premiums:

• Choose a used vehicle with a lower insurance rate.
• Maintain a safe driving record free of auto accidents or violations.
• Bundle policies, including homeowners, motorcycle, or renters insurance.
• Price shop quotes among different insurance providers to get the best rate.

Research Methodology

We chose the cheapest cars to insure in Colorado using an in-state address to generate quotes for each vehicle. This method allows us to provide the most accurate and relevant data for Colorado drivers. We generated insurance quotes in Colorado using the following profile:

Basic Driver Profile

• 35-year-old male with a bachelor’s degree
• Single and employed full time
• Homeowner but did not bundle policies
• Owns the vehicle rather than leases or finances it
• Has been with he current insurance carrier for five or more years

We used vehicles on the IIHS 2021 Top Safety Pick+ list. The IIHS is an independent, nonprofit organization that collects safety data for cars on the market.

We used the following limits for liability-only quotes:

• $100,000/$300,000 liability limits
• $100,000 property damage limits
• $10,000 personal injury protection

For the full-coverage quotes, we included the following coverages with the liability selections:

• $1,000 deductible on collision coverage
• $1,000 deductible for comprehensive coverage
• $50/$1,500 rental reimbursement
• $100 roadside assistance

Frequently Asked Questions

What is the cheapest SUV to insure in Colorado?

The cheapest small-size SUV to insure in Colorado is the Mazda CX-3. A full-coverage insurance policy for a Mazda CX-3 costs $133.96 per month.

Are older cars cheaper to insure?

Older cars are cheaper to insure in Colorado because they cost less to replace. Insurance providers are willing to offer a cheaper rate to those who drive an older car because they carry less financial risk.

How much liability insurance is required in Colorado?

Colorado requires a minimum amount of liability insurance. Thoes requirements include $25,000 bodily injury coverage per person per accident, $50,000 bodily injury or death per accident, and $15,000 property damage per accident.

What is the penalty for driving without insurance in Colorado?

Driving without insurance in Colorado results in a $500 fine on the first offense. Colorado also suspends your driver’s license until you show proof of insurance to the Division of Motor Vehicles. On the second offense, Colorado charges a minimum of $1,000 plus a license suspension for four months.

What is the basic insurance for a car?

Basic car insurance is known as liability insurance. It covers you financially if you cause bodily or property damage to another driver. If you have an auto loan on your vehicle, you may be required to carry additional insurance, including comprehensive or collision insurance.

What car has the highest insurance rates?

Sports and luxury cars tend to have the highest insurance rates. Rare vehicles that are no longer manufactured or have after-market parts also cost more to insure since the insurance company must pay a lot more to replace or repair these vehicles.

References

1. (2015.) Uninsured Motorists: Colorado. Rocky Mountain Insurance Information Association. Retrieved April 2, 2023, from http://www.rmiia.org/auto/steering_through_your_auto_policy/Uninsured_Colorado.asp
2. (2023.) Insurance Complaint Ratio and Complaint Index Information. Colorado Department of Regulatory Agencies. Retrieved April 2, 2023, from http://www.dora.state.co.us/pls/real/ins_comp_ratio_report.generate_report?p_report_id=Complaint%20Ratio%20and%20Complaint%20Index%20Search%20Results&p_report_year=2021&p_policy_type=AUTO&p_min_complaints=5&p_min_marketshare=0.10&p_report_format=HTML&p_report_type=Standard%20Reports&p_order_by=company_name
3. (2023.) Mandatory Automobile Insurance in Colorado. Colorado General Assembly. Retrieved April 2, 2023, from https://leg.colorado.gov/content/mandatory-automobile-insurance-colorado#:~:text=The%20following%20minimum%20coverages%20are,damage%20in%20any%20one%20accident
4. (2022.) 2021 Top Safety Picks. IIHS HLDI. Retrieved April 2, 2023, from https://www.iihs.org/ratings/top-safety-picks/2021?tspPlusOnly#award-winners
5. (2023.) Average cost of car insurance in Colorado in 2023. Bankrate. Retrieved April 2, 2023, from https://www.bankrate.com/insurance/car/average-cost-of-car-insurance-in-colorado/
6. (2023.) EPA Ratings. U.S. Department of Energy. Retrieved April 2, 2023, from https://www.fueleconomy.gov/