Average insurance costs in Colorado based on your driving history, personal background and more
All 4.3 million licensed Colorado drivers need property damage and bodily injury liability coverage to drive legally in the Centennial State. For most drivers in Colorado, annual average car insurance premiums will be slightly more than the national annual average. However, several factors like driving history, marital status, gender and location will impact your rates. We’ve compared rates to give you a detailed breakdown of average car insurance costs in Colorado.
The statewide average premium for car insurance in Colorado is $1,171 a year or $97 a month. That’s 11 percent more expensive than the national average of $1,047. 1 Again, average rates will vary drastically based on many factors that insurance providers consider when calculating premiums, such as age, gender and credit score. This means the averages we present are not exact figures for your personal situation.
Here’s a detailed look at how your personal background and driving history might contribute to your car insurance rates in Colorado.
Younger drivers tend to pay the highest car insurance rates because they get into more accidents and receive traffic violations compared to the rest of the population. Senior drivers over the age of 70 can also expect to pay higher-than-average rates for similar reasons, which you’ll see in the table below.
Here’s the full cost breakdown by age in Colorado:
|Age||Average annual cost of car insurance in Colorado|
On average, men pay more than women for car insurance because they tend to get into accidents and receive traffic violations at higher rates than women. That trend holds up in Colorado, where men will pay slightly more for car insurance on average.
|Gender||Average annual cost of car insurance in Colorado|
Married couples tend to pay their premiums on time, report fewer claims and receive fewer traffic violations than single drivers. Insurance providers consider all of those factors when determining rates of married couples, which tend to be lower than those of unmarried drivers.
|Marital status||Average annual cost of car insurance in Colorado|
Although you only need liability coverage ― property damage and bodily injury coverage ― to drive in Colorado, we recommend getting full coverage and uninsured motorists/underinsured motorist protection with limits as high as you can afford.
Colorado is 13th in the country for uninsured drivers, with 16 percent of its drivers getting on the road without insurance. That means roughly one in six drivers does not have any insurance while driving.2
Full coverage refers to liability with comprehensive and collision coverage. Here are the average costs by coverage level.
|Coverage level||Average annual cost of car insurance in Colorado|
|State minimums (liability coverage: bodily injury liability and property damage liability)||$695|
|Uninsured/underinsured motorist coverage||$214|
|Full coverage car insurance (liability plus comprehensive and collision)||$1,329|
Only a few states bar insurance providers’ abilities to use your credit score as a determinant of auto insurance rates ― Massachusetts, Hawaii, Michigan, Oregon and California. In the rest of the country, including Colorado, they can review your credit history to set your car insurance rates.
|Credit score||Average annual cost of car insurance in Colorado|
|Poor (under 500)||$3,017|
The more moving traffic violations you have on your record, the higher you can expect your car insurance costs to be. Here’s how some of the most common moving violations affect your premiums.
|Driving history||Average annual cost of car insurance in Colorado|
|Clean driving record||$1,780|
Premium rates depend on a provider’s industry specialization and your unique driving background. In Colorado, here’s what those averages will look like among some of the largest auto insurance companies.
|Company||Average annual cost of car insurance in Colorado (minimum coverage)|
Here are the cheapest car insurance companies in Colorado based on background and demographic.
|Category||Most affordable company (on average)||Annual rate|
|One speeding ticket on record||American National||$789|
|Accident on record||State Farm||$1,343|
|Full coverage||American Family||$812|
|Minimum coverage||American Family||$189|
|Poor credit||State Farm||$2,241|
Although car insurance rates differ from driver to driver and provider to driver, there are a few best practices you can follow to ensure you’re getting the cheapest rates in Colorado.
According to the National Highway Traffic Safety Administration, speeding-related accidents accounted for 46 percent of traffic fatalities in Colorado, which is 17 percent higher than the national average and higher than any other state in the country.3 Keep rates low by following speed limits and avoiding speeding tickets.
Here are the minimum insurance requirements to drive legally in Colorado:
Although technically, you can drive with minimum limits in Colorado, we recommend increasing your limits as much as you can afford to ensure that you and your passengers are well protected.
Colorado is an at-fault state that follows the modified comparative negligence rule, which states that if a driver is 50 percent at-fault in an accident, they lose their right to receive compensation for any damages. So if the other driver is at-fault for 80 percent of the accident and your damages are $10,000, the other driver’s provider will cover $8,000 and your provider will pay $2,000.
An SR-22 certificate of financial responsibility proves you have the minimum insurance requirements to drive in Colorado. You may need an SR-22 if you have a history of car accidents, traffic violations or other serious violations, such as a DUI. The state may ask you to carry an SR-22 for up to three years, and the DMV could suspend your license if you don’t maintain your SR-22 during that time.5
Although Coloradons pay more than most of the country on average, you can still find affordable insurance by asking your agent about discounts, driving safely, taking advantage of pay-per-mile programs and comparing quotes.
Be sure to shop around when looking for the best car insurance plan. With more than 300 home and car insurance companies in Colorado, it will pay to take your time to find the best provider for your unique needs.6
AutoInsurance.com has more than 20 years of experience connecting drivers to providers and collecting data about what makes some car insurance providers more successful than others. We look at key insights related to things like a driver’s marital status, credit score, driving history, location and several other factors to determine which Coloradans qualify for the best car insurance rates with which providers, on average.
In Colorado, car rental insurance can range from $5 to $30 per day. If you add more coverage, such as comprehensive insurance, you can expect those costs to increase.
These five cities tend to have the most expensive annual car insurance rates in Colorado:
According to the Colorado Code § 42-4-1409, you could face the following penalties for driving without insurance in Colorado.
|Offense number||1||2nd and subsequent (within 5 years of 1st offense)|
|Driver’s license points||4||4|
|Driver’s license suspension||Yes, until you show proof of insurance to DMV||4 months|
|Community service||No||40 hours minimum (at the court’s discretion)|
The average cost of car insurance for a 20-year-old female in Colorado is about $2,500
2019/2020 Auto Insurance Database Report. National Association of Insurance Commissioners. (2023, Jan).
One in Eight Drivers Uninsured. Insurance Research Council. (2021, Mar 22).
Overview of Motor Vehicle Crashes in 2020. National Highway Traffic Safety Administration. (2022, Mar).
Mandatory Automobile Insurance in Colorado. Colorado General Assembly. (2023).
SR-22 and Insurance Information. Colorado Department of Revenue. (2023).
Colorado P&C Insurance Industry Facts. Rocky Mountain Insurance Information Association. (2015).