Best car insurance companies in Colorado of 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Published 6:00 a.m. UTC May 30, 2024
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Colorado Farm Bureau Insurance is the best car insurance company in Colorado. This Colorado-based insurer offers competitive rates for good drivers and high-risk drivers. Colorado Farm Bureau also has a low level of customer complaints to state insurance departments.
Best car insurance companies in Colorado
- Colorado Farm Bureau: Best car insurance in Colorado.
- American National: Best car insurance after an accident in Colorado.
- Geico: Best car insurance for poor credit in Colorado.
- Nationwide: Great car insurance for teens in Colorado.
Why trust our car insurance experts
Our team of car insurance experts has decades of experience as licensed property and casualty experts, insurance editors and consumers. We approach car insurance analysis as if we were shopping for ourselves or our family members, focusing on rates, coverage and features available, customer complaints and the collision repair process.
Using a data-driven methodology, we evaluate hundreds of auto insurance products, analyze thousands of data points and rate each insurer to help you find the best car insurance product for your situation. Advertisers never influence our editorial content. You can read more about our methodology below.
- 15 Colorado car insurance companies reviewed.
- 105 Colorado car insurance rates analyzed.
- 5 levels of fact-checking.
Compare the cheapest car insurance companies in Colorado
American National and Colorado Farm Bureau have the cheapest car insurance in Colorado, but they’re trailed closely by Geico and Nationwide. All four companies offer rates below the state average.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE FOR GOOD DRIVERS | CUSTOMER COMPLAINT LEVEL | LEARN MORE | |||||
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 Colorado Farm Bureau | $1,536 | Very low | Compare Rates Compare rates offered by participating partners | |||||
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 American National | $1,124 | Above average | Compare Rates Compare rates offered by participating partners | |||||
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 Geico | $1,719 | Below average | Compare Rates Compare rates offered by participating partners | |||||
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 Nationwide | $1,890 | Below average | Compare Rates Compare rates offered by participating partners | |||||
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Methodology
Our team of insurance experts evaluated 15 Colorado car insurance companies to determine those that offer the best coverage based on average rates and consumer complaints. Based on the following factors, each insurer was eligible for up to 100 points.
- Cost: 60 points. Analysis of Quadrant Information Services rates for a policy with 100/300/100 in liability coverage, uninsured motorist coverage and comprehensive and collision coverage. We also analyzed average rates for various driver profiles and identified the best cheap insurer for each. Driver profiles include:
- Driver with an accident, speeding ticket or DUI on their record.
- Driver with a gap in coverage.
- Teen drivers added to a parent’s policy.
- High-risk driver.
- Customer complaints: 40 points. We looked at data from the National Association of Insurance Commissioners (NAIC), which shows the volume of car insurance consumer complaints against each company. When a consumer lodges a complaint to their state’s department of insurance — often about an insurance company’s claims process, delays, denials or settlements — these complaints are logged and tracked.
How much does car insurance cost in Colorado?
The average cost of car insurance in Colorado is $2,587 a year, or $152 a month. That’s for a good driver with full coverage.
Compared to the U.S. average cost of car insurance ($2,067), that’s a little high, but not surprising.
“Colorado drivers face treacherous road conditions in many parts of this state, especially during the winter months,” said Mark Friedlander, Director of Corporate Communications for the Insurance Information Institute (Triple-I).
“This leads to higher accident frequency and severity than many states. Weather and climate hazards also have significant impacts on the cost of Colorado car insurance. This includes damage to vehicles caused by severe convective storms, wildfires, hail, flood, snow and ice.”
If you’re a Colorado driver who doesn’t want to pay those high rates, limit your search to the cheap car insurance companies in Colorado listed above, and read below for tips on lowering your rates.
Cheapest car insurance companies in Colorado
Good drivers understandably get the best rates on car insurance. But what if you have a violation, like a DUI, accident or speeding ticket, on your record? Use the tables below to see the average car insurance rates offered by the best car insurance companies in Colorado.
- After a speeding ticket
- After an accident
- After a DUI
- With poor credit
- After a gap in coverage
- New driver added to parent policy
Cheapest car insurance after a speeding ticket in Colorado
If you have a speeding ticket in Colorado, consider American National. It has the cheapest rates among the top car insurance companies in Colorado. Colorado Farm Bureau also offers competitive rates and is the only other insurer in our rating to offer coverage below $150 per month for drivers with a speeding infraction.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE | AVERAGE MONTHLY RATE | ||||
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| American National | $1,264 | $105 | ||||
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| Colorado Farm Bureau | $1,724 | $146 | ||||
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| Geico | $2,355 | $196 | ||||
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| Nationwide | $2,281 | $190 | ||||
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Cheapest car insurance after an accident in Colorado
Rates can increase after an accident, especially if you’re at fault. After an accident, American National offers an average rate of $122 per month, the lowest among the insurers in our rating. You should also get a quote from Colorado Farm Bureau, which offers coverage for an average rate just above $150 a month.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE | AVERAGE MONTHLY RATE | ||||
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| American National | $1,465 | $122 | ||||
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| Colorado Farm Bureau | $1,838 | $153 | ||||
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| Geico | $3,079 | $257 | ||||
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| Nationwide | $2,900 | $242 | ||||
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Cheapest car insurance after a DUI in Colorado
Insurers see DUIs as a red flag, raising rates well above those offered to good drivers. However, you may be able to catch a financial break from American National or Colorado Farm Bureau. They are the only insurers in our analysis to offer rates below $2,000 a year in Colorado for drivers with a DUI on their record.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE | AVERAGE MONTHLY RATE | ||||
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| American National | $1,422 | $119 | ||||
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| Colorado Farm Bureau | $1,766 | $147 | ||||
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| Geico | $2,972 | $248 | ||||
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| Nationwide | $3,233 | $269 | ||||
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Cheapest car insurance for poor credit in Colorado
Geico has the lowest average rates for drivers with poor credit in Colorado. It’s the only insurer to offer coverage for less than $220 per month. Nationwide also offers competitive rates for drivers in this category.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE | AVERAGE MONTHLY RATE | ||||
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| Geico | $2,587 | $216 | ||||
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| Nationwide | $2,741 | $228 | ||||
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| Colorado Farm Bureau | $3,070 | $256 | ||||
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 Grange | $3,174 | $265 | ||||
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Cheapest car insurance in Colorado after a gap in coverage
A gap in car insurance may save you some money upfront, but when you get coverage again, you’ll likely see higher rates. If you have a gap in coverage, consider American National. It is the only insurer in our best car insurance in Colorado rating to offer coverage for under $100 per month. Colorado Farm Bureau should also be on your list. Though slightly higher than American National, its average rate after a gap in coverage is just $128 per month.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE | AVERAGE MONTHLY RATE | ||||
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| American National | $1,124 | $94 | ||||
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| Colorado Farm Bureau | $1,536 | $128 | ||||
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| Geico | $2,429 | $202 | ||||
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| Nationwide | $2,704 | $225 | ||||
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Cheapest car insurance for adding a new driver in Colorado
Teens are notably expensive to insure, so shopping around for coverage is essential. If you’re the parent of a freshly-minted, 16-year-old driver, consider the Colorado Farm Bureau. It has the lowest average rate for parents adding a 16-year-old to their policy.
| COLORADO CAR INSURANCE COMPANY | AVERAGE ANNUAL RATE | AVERAGE MONTHLY RATE | ||||
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| Colorado Farm Bureau | $1,926 | $161 | ||||
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| American National | $2,498 | $208 | ||||
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| Geico | $2,962 | $288 | ||||
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| Nationwide | $3,764 | $323 | ||||
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How to find cheap car insurance in Colorado
The average cost of car insurance in Colorado may be higher than the nationwide average, but that doesn’t mean you have to settle for the highest premiums.
“Colorado drivers can reduce their auto insurance cost significantly by taking advantage of numerous discounts without sacrificing coverage,” said Friedlander. He also points to other ways of saving, including usage-based telematics programs and defensive driver courses.
Here’s a more extensive look at how you can lower your car insurance rates in Colorado:
- Shopping around: Compare car insurance quotes from at least a handful of companies to find the best rate. Make sure you’re looking at similar policies with the same deductibles and coverage limits to ensure a fair comparison.
- Bundling with other insurance policies: Several insurance companies offer discounts if you insure more than one vehicle or purchase multiple policies, such as home insurance or renters insurance, from them. We analyzed the best auto and home insurance bundles available.
- Enrolling in a usage-based insurance program: Many car insurance companies have usage-based insurance (UBI) programs that allow them to monitor your driving habits (usually via your smartphone) and base premiums on them. Good driving can get you a discount but be warned: Aggressive, unsafe behavior behind the wheel could actually result in a premium increase.
- Taking advantage of discounts: Bundling policies and enrolling in a usage-based driving program aren’t the only ways to earn discounts. You may be eligible for car insurance discounts if your car has certain safety features, you completed a safe driving course or have gone several years without an accident or ticket. Many insurers also offer discounts if you’re a student or in the military, opt into paperless statements or if you pay your six- or 12-month premium in full.
- Improving your credit score: In Colorado, insurance companies can still factor in your insurance-based credit score when determining car insurance rates. By actively working to improve your credit score — making on-time payments and reducing credit utilization — you can improve your insurance-based credit score and potentially see a drop in your car insurance premiums when you renew your policy.
- Adjusting your coverage: You can lower your car insurance premium by raising your deductible, but remember you’ll pay more out of pocket when filing a claim. You can also reduce your coverage limits, though this can leave you with substantial bills, especially if you’re at fault for an expensive accident with massive property damage or bodily injury.
Car insurance in Colorado vs. other states
Here’s how much full coverage car insurance for good drivers costs in Colorado compared to other states.
Car insurance requirements in Colorado
By law, anyone who owns a car in Colorado must have liability insurance. The minimum requirements for that liability insurance are:
- $25,000 for bodily injury or death to one person in an accident.
- $50,000 for bodily injury or death to all people in an accident.
- $15,00 for property damage in an accident.
These limits are quite low. While they’ll keep you out of legal problems with the state of Colorado, we recommend a more robust policy that includes higher liability limits, comprehensive insurance and collision coverage, at minimum.
Best car insurance in Colorado FAQs
American National has the lowest car insurance rates in Colorado, based on our analysis of 15 auto insurance companies in the state. Colorado Farm Bureau, Geico and Nationwide also offer cheap car insurance in Colorado, below the state (and national) average.
The average cost of car insurance in Colorado is $2,587 a year, or $152 a month. That’s for a good driver with a full-coverage policy. Costs increase if you have a DUI, speeding ticket, accident or any other indication of high risk.
You may be able to lower your monthly car insurance premium by switching to one of the cheapest auto insurance companies in Colorado and applying for discounts, such as bundle, paperless and autopay discounts.
Car insurance costs are up nationwide for various reasons, including higher repair costs, but it’s getting particularly expensive in Colorado. Why is that the case? The weather, according to Mark Friedlander, Director of Corporate Communications for Triple-I.
Friedlander says both accident frequency and severity are higher in Colorado, especially during the winter months. But it’s not just winter weather that affects Coloradoans; they also have to contend with wildfires and flooding, both of which drive up claims (and thus costs).
Startled by rising rates? How to lower your car insurance in 2024
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