Car insurance companies in Colorado are entities that offer insurance coverage specifically tailored for vehicles operating in the state of Colorado. These companies provide various insurance policies designed to protect drivers, their vehicles, and others on the road from financial liabilities arising from accidents, theft, or damage.
They adhere to Colorado's state laws and regulations governing insurance requirements, offering different coverage options, discounts, and services to cater to the diverse needs of Colorado drivers.
Here’s some important information to keep in mind when driving in Colorado.
If you’re planning to drive in Colorado, it’s important to be aware of the average cost of car insurance in the state, which is $1,687 per year. This is 10% more than the national average and is influenced by several factors, including your age, driving history, marital status, and credit score. To help you find a suitable policy that meets your requirements, Zebra’s experts have analyzed the average Colorado car insurance rates for each of the most common rating factors. Whether you want to know how much auto insurance costs in Colorado or want to receive personalized car insurance quotes based on your driving profile, submit your ZIP code above and get started.
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What are the top-rated car insurance companies in Colorado?
USAA
USAA, an insurance company, received a high score of 870 (out of 1,000) in the J.D. Power 2021 U.S. Auto Insurance Study for the state of Colorado. They also topped The Zebra’s Customer Satisfaction Survey.
American Family: American Family, a regional carrier, scored 850 in J.D. Power’s 2021 Auto Insurance Study and received 4.3 stars out of 5 in The Zebra’s Customer Satisfaction Survey.
State Farm, another insurance company, received the second-highest score (847) in J.D. Power’s 2021 Auto Insurance Study for this region. They also came in 3rd place overall in The Zebra’s Customer Satisfaction Survey.
Colorado auto insurance laws
In order to drive a car legally in Colorado, it is important to have car insurance. This is a legal requirement in almost every state across the country. If you’re looking for the minimum coverage level in Colorado, you should pay approximately $508 per year. This is considerably more affordable than the national average by 6%. However, it is important to note that the minimum coverage may not provide adequate protection in case of an accident. It is important to consider your individual needs and assess the coverage types that are available to you. You should also look into the coverage levels required for all Colorado drivers, as well as the optional coverage types offered by most insurers. This way, you can make an informed decision about your car insurance and ensure that you have the right coverage to protect yourself and others on the road.
For the minimum legal coverage level in Colorado, the annual cost is approximately $508.
State Minimum Insurance Coverage
In Colorado, the state minimum requirement is liability coverage, with limits of:
- Bodily Injury $25,000 per person
- Bodily Injury $50,000 per accident
- Property Damage $15,000 per accident
Optional coverage in Colorado (varies by carrier):
- Comprehensive
- Collision
- Loan/Lease Payoff
- Medical and Funeral Services
- Rental Car Reimbursement
- Roadside Assistance
- Uninsured Motorist Bodily Injury
- Uninsured Motorist Property Damage
If you opt for a higher level of car insurance coverage, you have the option to purchase a policy with comprehensive collision coverage. This will protect against damages caused by car accidents, theft, or weather-related incidents. However, it’s important to keep in mind that better auto insurance coverage comes at a higher cost. For instance, in Colorado, a comprehensive policy with a $1,000 deductible can cost as much as $1,512, which is 198% more than the cost of a basic liability-only policy. Similarly, if you choose a comprehensive policy with a $500 deductible, you can expect to pay 266% more than you would for a basic liability-only policy.
The Zebra’s Guide to Colorado Car Insurance Laws
Learn more about car insurance requirements in the state of Colorado with our helpful guide.
Colorado Car insurance Premiums by Rating Factor
Car insurance rates in Colorado are determined by a variety of factors, such as driving history, age, and credit score. To give you a better understanding of how much you should expect to pay for auto insurance in Colorado, we’ve compiled average premium costs based on specific rating factors.
Cheap Auto Insurance in Colorado for Minimum Coverage
If you’re looking for cheap car insurance in Colorado, consider opting for liability-only coverage at the state minimum level instead of full coverage. This can result in significant savings, with the average cost for minimum coverage in Colorado being as low as $42 per month or $508 per year, which represents a saving of $1,352 compared to full coverage.
Cheap Auto Insurance for Young Drivers in Colorado
Young drivers in Colorado between the ages of 16 and 25 typically pay much higher auto insurance rates than other age groups, with 16 to 19-year-olds having the most expensive premiums of all. This is due to the increased risk posed by inexperienced drivers, and teenagers in Colorado pay over three times the national average for car insurance. The average cost for teen drivers in Colorado is $5,609 per year, which is around 10% higher than the national average for teens and over three times higher than the average driver in Colorado.
