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Best Cheap Car Insurance in Colorado for 2020

Jan. 2, 2020
Auto Insurance, Insurance
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Car insurance rates can fluctuate greatly from one insurance company to the next and depending on personal factors such as your age, ZIP code, driving record and credit history.

To help you narrow the field and find the cheapest car insurance in Colorado, we researched rates from the eight largest insurers in the state and found the most affordable options for several driver types.

Cheapest for good drivers in Colorado

For Coloradans with good credit and a clean driving history, the cheapest insurance companies and their average rates for full coverage are:

  1. Esurance: $1,082 per year.
  2. Geico: $1,090 per year.
  3. Allstate: $1,529 per year.
  4. State Farm: $1,627 per year.
  5. American Family: $2,018 per year.
Drivers with no recent accidents or violations can get cheaper car insurance rates for having good credit. For this calculation, NerdWallet averaged rates for 40-year-old men and women with a clean driving record and good credit. In terms of driving and credit history, a large portion of drivers are closest to this profile, which carries standard "full coverage" insurance, including comprehensive and collision, along with state-required coverage. Prices shown include a good driver discount, when available from the insurer.

Cheapest for minimum coverage in Colorado

Drivers who want minimum auto insurance in the Centennial State may want to look into these companies, ranked by their average rates for minimum required coverage in Colorado:

  1. Geico: $359 per year.
  2. State Farm: $562 per year.
  3. Esurance: $638 per year.
  4. Allstate: $745 per year.
  5. Progressive: $888 per year.
We calculated these numbers by averaging rates for 40-year-old good drivers (earning them a discount if the insurer offers one) who have only the minimum mandatory insurance in their state. Such light coverage isn't typically recommended since it might not cover all the bills resulting from a car accident, but it's better than nothing — especially if you can't afford much more. If you're looking for the cheapest possible insurance you can get, though, you'll still want to get quotes from at least three auto insurers.

Cheapest for good drivers with poor credit

For Coloradans with blemished credit and a clean driving history, the cheapest companies and their average rates for full coverage are:

  1. Geico: $1,615 per year.
  2. Esurance: $1,947 per year.
  3. Allstate: $2,569 per year.
  4. American Family: $2,990 per year.
  5. State Farm: $3,089 per year.
If you have a spotty credit history, it's important to shop around to find the cheapest auto insurance rates you can. Poor credit can have a bigger effect on car insurance premiums than even a DUI conviction or a recent at-fault crash, but prices vary by insurer. To calculate these figures, NerdWallet averaged rates for 40-year-olds with a clean driving record and associated good driver discount, if the insurer offered one. They had poor credit as reported to their insurer, and standard "full coverage" car insurance.

Cheapest for drivers with one at-fault crash

Colorado drivers with a recent at-fault accident on record might want to consider these insurers, listed alongside their average rates for full coverage in this situation:

  1. Geico: $1,879 per year.
  2. American Family: $2,032 per year.
  3. State Farm: $2,140 per year.
  4. Esurance: $2,160 per year.
  5. Allstate: $2,299 per year.
After a relatively minor crash, some auto insurers will charge a lot more than others for coverage. To get these figures, we averaged rates for 40-year-olds with typical "full coverage" insurance and one recent at-fault crash costing $10,000 in property damage. Your rates will remain high for three to five years after you cause an accident or have a moving violation — and you still may be rejected for coverage from certain companies, including those above. If you fall into this category, be sure to shop for new insurance rates just after the three-year and five-year anniversaries of your infraction.

Cheapest insurance after a DUI in Colorado

For drivers with a recent DUI on their record, the cheapest companies and their average rates for full coverage in Colorado are:

  1. Esurance: $1,836 per year.
  2. Allstate: $2,003 per year.
  3. American Family: $2,032 per year.
  4. Geico: $2,070 per year.
  5. Progressive: $2,522 per year.
A conviction for driving under the influence, or DUI, generally results in higher auto insurance premiums than before. NerdWallet analyzed rates for 40-year-old drivers and standard “full coverage” car insurance with a recent DUI conviction to see which companies were cheapest. Be warned that you may be rejected for coverage, including from the companies listed above. Rates can vary by hundreds between carriers after a DUI, and some penalize for longer than others, so it’s important to shop around for the best available price right after you see a price hike and each year after that.

Cheapest insurance after a ticket in Colorado

These are the cheapest companies for Colorado drivers with a recent speeding ticket on their record, ranked by average rates for full coverage:

  1. Esurance: $1,296 per year.
  2. Geico: $1,409 per year.
  3. Allstate: $1,684 per year.
  4. State Farm: $1,867 per year.
  5. American Family: $2,032 per year.
Getting a speeding ticket will result in higher car insurance rates from most companies for three to five years. To see who has the cheapest rates, we calculated average car insurance rates for 40-year-old drivers with “full coverage” insurance and a recent ticket for speeding 16 mph over the limit. Though these larger companies were the cheapest we found on average, others may be cheaper for you, so be sure to get at least three quotes before deciding on a carrier.

Cheapest for couples and families in Colorado

The best auto insurance rates for families don’t always come from the same companies that are cheapest for singles. That’s why we also looked at rates for a Colorado married couple, with and without a teen driver, to see which insurers have the lowest prices. Companies use different criteria for setting rates, so be sure to shop around for car insurance quotes when there’s a big change in your life, such as moving, getting married or adding a teen driver to your policy.

Cheapest for a married couple in Colorado

For a Colorado husband and wife, both 50 years old, buying full coverage for two vehicles, the cheapest insurance companies and average rates are:

  1. Esurance: $1,320 per year.
  2. Allstate: $2,139 per year.
  3. Geico: $2,229 per year.
  4. State Farm: $2,996 per year.
  5. American Family: $3,576 per year.
Couples who live together can save on auto insurance by combining policies, whether they are married or not, because they can earn multi-car and multi-driver discounts. Once they tie the knot, rates can dip further, but not because of discounts — insurers see married people as less risky and so charge them lower rates. Our hypothetical 50-year-old couple’s clean driving record also earns them both a good driver discount.

Cheapest for families with a teen in Colorado

For a 50-year-old couple plus an 18-year-old driver, these are the cheapest companies and average rates in Colorado for full coverage on two vehicles:

  1. Geico: $3,762 per year.
  2. Allstate: $3,769 per year.
  3. Esurance: $4,899 per year.
  4. State Farm: $5,300 per year.
  5. Progressive: $6,429 per year.
Adding a teen with two years’ driving experience to a married couple's policy is sure to cause a big jump in rates. Since different insurers tend to see a teen’s inexperience in different ways, we analyzed rates to see which companies had the cheapest car insurance for teens. These rates are averaged for 50-year-old couples with male and female 18-year-old drivers.

Cheapest for young drivers in Colorado

Auto insurance can be pricey for young, inexperienced drivers, but rates vary widely. That’s because each insurer considers personal factors like age and driving experience differently when setting prices. To find out which companies are cheapest for young drivers, we checked rates for 25-year-olds in Colorado.

Cheapest full coverage for young good drivers

For a young driver with good credit and a clean driving record, these are the cheapest companies and their average rates in Colorado for full coverage insurance:

  1. Geico: $1,059 per year.
  2. Esurance: $1,162 per year.
  3. Allstate: $1,644 per year.
  4. State Farm: $1,929 per year.
  5. American Family: $2,385 per year.
Drivers in their 20s can have a hard time finding cheap car insurance, and that's even truer when they need full coverage. The rates above are averages for 25-year-old male and female drivers with comprehensive and collision coverages, which are often required for drivers with active auto loans or leases. These rates reflect a good driver discount. Young drivers, like all drivers, should check several quotes to find the cheapest for the coverage levels they need.

Cheapest minimum coverage for young good drivers

For Colorado’s minimum required coverage, the cheapest companies and average rates for a 25-year-old with good credit and a clean driving history are:

  1. Geico: $356 per year.
  2. Esurance: $646 per year.
  3. State Farm: $658 per year.
  4. Allstate: $758 per year.
  5. Progressive: $945 per year.
Since young people often have fewer assets to protect with liability insurance, they can usually get away with lower coverage limits. For an age group with relatively high insurance rates on average, that's good news, keeping rates as low as possible. For this price set, we averaged rates for 25-year-old male and female drivers who have clean driving records, good credit and bare-bones insurance coverage.

Poor credit and minimum coverage

These are the cheapest companies and average rates for a young driver with poor credit, buying Colorado’s minimum required coverage:

  1. Geico: $484 per year.
  2. Esurance: $1,027 per year.
  3. Allstate: $1,194 per year.
  4. State Farm: $1,259 per year.
  5. Progressive: $1,590 per year.
Poor credit is common for younger folks just starting out, who may still be building their credit files. That can increase rates further, so it's extra important to shop around and compare as many insurance quotes as possible to find the cheapest you can get. For these prices, we averaged rates for 25-year-old male and female drivers with no recent accidents or violations (earning them a good driver discount), minimum coverage car insurance, and credit in the "poor" tier as reported to an insurer.

Cheapest for minimum coverage after a crash

For 25-year-old Colorado drivers with a recent at-fault wreck on their records, these are the cheapest companies for minimum coverage, ranked by average rates:

  1. Geico: $553 per year.
  2. State Farm: $908 per year.
  3. Esurance: $931 per year.
  4. Allstate: $1,109 per year.
  5. American Family: $1,138 per year.
To get prices for this group, we averaged rates for 25-year-old male and female drivers with good credit and a recent at-fault crash costing $10,000 in property damage. Since car insurance is often pricier after a crash, and especially so for young drivers, we assumed minimum required insurance in the state to contain costs for our hypothetical driver. Depending on your situation, you may still be rejected for coverage, including from the companies listed above. If you've caused a crash, no matter your age, be sure to check auto insurance quotes just after the third and fifth anniversaries of your incident, when insurers often adjust rates downward.

Cheapest for minimum coverage after a DUI

Young drivers with a recent DUI on their record may want to check out these companies, listed alongside their average rates for Colorado’s minimum required coverage:

  1. Geico: $615 per year.
  2. Esurance: $801 per year.
  3. Allstate: $961 per year.
  4. Progressive: $1,027 per year.
  5. State Farm: $1,110 per year.
Young drivers with a recent DUI on their records will need to be diligent to find the lowest car insurance rates they can get — it's likely that many companies' rates will be quite expensive. Depending on the circumstances, you may be rejected for coverage, including from the companies listed above. But spending the time to shop around for quotes can help you find the lowest price from a company available to you. For this analysis, we averaged rates for male and female 25-year-old drivers with a recent DUI conviction. They had good credit and minimum required car insurance, which helps keep rates down.

Cheapest for minimum coverage and a ticket

For minimum coverage after a speeding ticket, these are the cheapest companies and average rates for young drivers in Colorado:

  1. Geico: $409 per year.
  2. Esurance: $738 per year.
  3. State Farm: $765 per year.
  4. Allstate: $824 per year.
  5. Progressive: $1,093 per year.
Getting a speeding ticket is never fun, and neither is the higher car insurance bill you may receive months later. At that point, it's time to shop around for better rates, and it wouldn't hurt to repeat on your third and fifth ticket anniversaries, when insurers may adjust rates downward. We analyzed rates for 25-year-old male and female drivers with a recent speeding violation for going 16 mph over the speed limit to see prices for this group.

Cheap for military families

If you’re an active member of the military or a veteran, or if you have an immediate family member who is, you can get a relatively low rate with USAA insurance, which isn’t available to the general public. Because of that restriction, USAA isn’t ranked with the others, but it was among the five cheapest options for every category listed above.

» MORE: Best car insurance for veterans and military personnel

Recap: Cheapest car insurance in Colorado

  • Good drivers: Esurance.
  • Minimum coverage: Geico.
  • Poor credit: Geico.
  • After an at-fault crash: Geico.
  • After a DUI: Esurance.
  • After a speeding ticket: Esurance.
  • Married couples: Esurance.
  • Families with a teen: Geico.
  • Young good drivers: Geico.
  • Minimum coverage for young good drivers: Geico.
  • Minimum coverage for young drivers with poor credit: Geico.
  • Minimum coverage for young drivers after a crash: Geico.
  • Minimum coverage for young drivers after a DUI: Geico.
  • Minimum coverage for young drivers after a ticket: Geico.

» MORE: Compare car insurance

Minimum auto insurance limits required in Colorado

Colorado drivers are required to carry liability insurance, which helps pay for others’ injuries or property damage if you’re responsible for a crash.

The minimum coverage levels you must buy in Colorado are:

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

But it’s often best to buy more than the bare minimum to avoid being left vulnerable to lawsuits or major accident bills. You also want to consider other coverage types such as collision and comprehensive, which pay for damage to or theft of your own car.

Check out NerdWallet’s guide to state car insurance requirements.

Alternative car insurance in Colorado

Colorado drivers who can’t get coverage on the open market because of past crashes or other factors can apply for coverage through the Colorado Motor Vehicle Plan.

For more help finding Colorado car insurance at the most competitive price, try NerdWallet’s comparison shopping tool.

Methodology

For our “good driver” profile, NerdWallet averaged rates from the largest insurers in the state for 40-year-old men and women in all ZIP codes with 12,000 annual miles driven. The policy includes:

  • $100,000 bodily injury liability per person.
  • $300,000 bodily injury liability per accident.
  • $50,000 property damage liability per accident.
  • $100,000 uninsured motorist coverage per person.
  • $300,000 uninsured motorist coverage per accident.
  • Collision coverage with a $1,000 deductible.
  • Comprehensive coverage with a $1,000 deductible.
If required, minimum additional coverages were added and "good driver" discounts were automatically applied. Our “young driver” had all the same characteristics, but average rates were for 25-year-old men and women. We used a 2016 Toyota Camry LE for all single drivers. We used the same assumptions for all other driver profiles, with the following exceptions:

  • For drivers with minimum coverage, we adjusted the numbers above to reflect minimum required coverage by law in the state.
  • We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for drivers with poor credit.
  • For drivers with one at-fault crash, we added a single at-fault crash costing $10,000 in property damage.
  • For drivers with a ticket, we added a single speeding violation for driving 16 mph over the speed limit.
  • For drivers with a DUI, we added a single drunken driving violation.
Couples in our analyses were 50-year-old men and women with good credit and clean driving histories, averaged across all ZIP codes with the same policy outlined above. To see rates for families with a teen, we added an 18-year-old licensed two years ago, averaging rates for male and female teens. For couples and families we added a 2016 Nissan Rogue S to create a two-car household.

In all cases, a paperless discount, e-signature discount and electronic funds transfer discount were automatically applied. These are rates provided by Quadrant Information Services. Your own rates will be different.