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Best Cheap Car Insurance in Colorado
Whether you’re an experienced driver or you just got your license, you want to protect your car from potential risks and dangers. So it makes sense to look for affordable, quality insurance for your car - that’s what we all want, right? But how do you do that if you live in Colorado, an area well-known for its high auto insurance rates?
Well, you can start by checking out our list of companies that provide cheap car insurance in Colorado. Read on and you might find the perfect match for your car insurance needs.
Cheapest Auto Insurers in Colorado for November 2024
GEICO
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
GEICO is the second-largest insurer in the US, with decades of experience in ensuring cars across all 50 states. Clients praise its online quoting system for its speed and simplicity. Definitely the best option for government or military workers, it allows these drivers to get special discounts on their insurance. Read more
Esurance
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Esurance is particularly suitable for those who want to get their insurance online quickly: Thanks to its well-designed website and powerful mobile app, getting a quote is a breeze. This is a great option for drivers who want affordable rates for comprehensive and collision coverage. Read more
American Family
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
American Family is among the oldest insurance providers in the US. Thanks to its attractive bundling policies and numerous discounts, the insurer is the first choice for many Americans. Read more
Progressive
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Progressive offers a set of standard auto insurance options, e.g. for bodily injury, medical expenses, property damage, collision, comprehensive insurance, and more. Additionally, you can choose from a variety of protection services, both for commercial vehicles or antique cars. Read more
Top Car Insurance Companies in Colorado for 2024:
- GEICO - Best for the variety of discounts
- Esurance - Best for customer satisfaction
- American Family - Best for coverage options
- Progressive - Best for customers looking for a financially stable insurer
Detailed Reviews of Colorado Car Insurance Companies
GEICO
- • Virtual assistant support
- • A wide range of discounts
- • 24/7 support via phone or virtual assistant
GEICO is a Maryland-based insurance company with eighty years of experience in providing both commercial and business policies. GEICO stands for Government Employees Insurance Company, but even if you don’t work for the US government, you can buy car insurance at GEICO.
Financial Stability
GEICO is the second-largest car insurance company in the US, covering over 28 million cars via 17 million policies. The company is owned by Berkshire Hathaway - Warren Buffet’s firm - which does say a lot about its financial stability.
Coverage Options
On the GEICO website, you’ll find an entire section on car insurance types, described item by item. Pay close attention - this is the only way to get quotes suited to your needs.
GEICO offers all the standard coverage options, including liability, medical, collision, and comprehensive coverage. However, you can also get a wide array of additional insurance options, some of which you won’t find anywhere else: Mechanical Breakdown Insurance, for example, is a policy for cars newer than 15 months, with less than 15,000 miles on their meter.
Another option is the Emergency Road Service, for as low as $14 per year per vehicle. If anything should happen while you’re on the road, the company sends technicians to help you with flat tires or whatever problems you might have.
Price for Minimum Coverage
We checked the price for drivers that are around 35 years old, with a clean driving record and good credit score.
The average cost for minimum car insurance coverage is $359 per year. However, insurance required by the state is not enough to cover all potential expenses after a car accident - it’s always better to consider additional protection options.
Price with Comprehensive and Collision
GEICO’s comprehensive insurance includes protection against floods, earthquakes, fires, or any other accident not caused by another car. To cover the damage caused by car collisions, you need collision insurance. GEICO has maybe the cheapest offer for Colorado drivers that includes comprehensive and collision coverage, for the price of $1,615 per year.
Discounts
Depending on your education, affiliation, vehicle equipment, and customer loyalty, you can qualify for various discounts at GEICO. There are special discounts for particular groups, like students, federal employees, and the military. You can also combine discounts and save over 40% of the price of your policy. These are some of the discounts offered by GEICO:
- Air Bag
- Anti-Lock Brakes
- Anti-Theft System
- Daytime Running Lights
- Good Driver
- Defensive Driving
- Good Student
- Federal Employee (Eagle)
- Military
- Multi-Vehicle
- Multi-Policy
Customer Satisfaction
According to the JD Power 2024 US Auto Insurance Study, GEICO scored 626 out of 1000 points. This score is valid in central states, including Colorado, for this insurance company. As for its BBB rating, the company has an A+ score. Customer reviews, on the other hand, are mixed.
The company is lauded for its simple online quoting system and various discount opportunities, but there are complaints too - especially about claims payouts.
Esurance
- • Powerful mobile app
- • Numerous discounts available
- • Various pricing plans
Esurance is a reputable online insurance company that has been in operation since 1999. Well-known for providing affordable policies that cover basic insurance on your vehicles, its only downside is that it doesn’t operate in all 50 states, but its services are available in Colorado.
Financial Stability
Esurance is one of our top contenders in terms of financial strength and stability. The company has been owned by Allstate - a huge insurance corporation with over 100 billion worth of assets - since 2011. This makes Esurance one of the most trustworthy insurance carriers in the US.
Coverage Options
Esurance offers Colorado drivers a multitude of car insurance options: From basic policies to total coverage. Moreover, there’s also the possibility of combining car insurance with renters insurance for an affordable price. Thanks to Esurance’s easy-to-use website and mobile app, you can get a quote in five minutes.
We’ve tested the company’s platform to see what types of offers we can get. Much like on other platforms, there’s a form to fill with your personal details: Your name, address, marital status, education, vehicle type, and some others.
Esurance offers all standard coverage options, like protection from bodily injury, collision coverage, Personal Injury Protection (PIP), and comprehensive insurance. There is also a variety of additional coverage possibilities, like rental car insurance or emergency roadside service.
Price for Minimum Coverage
Once you fill the website form, the company will present you with three coverage plans, offering different levels of protection. If you’re looking for the cheapest option, the minimum coverage plan is for you. Bodily injury limits are $15,000 per person, $30,000 per accident, while property damage coverage is capped at $10,000. The rate depends on your age, gender, and driving experience.
We looked up car insurance quotes for a female in her early thirties, with no driving penalties, and the price for minimum coverage was $638 per year. Esurance mandatory car insurance is on the pricier side, considering that it includes bodily injury and property damage only.
Price with Comprehensive and Collision
What’s even harder than finding good quotes is finding an affordable solution that includes more than the mandatory coverage. Thankfully, Esurance offers collision and comprehensive coverage for the minimum price of $1,082 per year, provided you qualify for the Good Driver discount.
Discounts
Speaking of discounts, Esurance has a decent list of items that you can choose from. Of course, not all discounts are available in all states, and there are certain requirements that you must meet for each of them. Still, if you want to purchase insurance from Esurance, you can count on a wealth of premium offers, including Anti-Theft, Good Student, Military, and Safe Driver discounts, to name a few.
To check your eligibility for a particular discount, you should contact an Esurance agent before adding it to your policy. Thanks to the Esurance mobile app, you can update your policy with discounts any time you want.
Customer Satisfaction
Esurance holds an A- rating on BBB and a 4.1 out of 5 on JD Power. Customer reviews assert that it’s one of the best options for the state minimum car insurance coverage.
American Family
- • Make claims via the mobile app
- • Wide range of discounts
- • Fast and polite representatives
American Family is one of the oldest insurance firms in the US, having been in the business since the 1920s. One century later, it’s become the industry leader in full coverage auto insurance. Moreover, it provides a wealth of different insurance policies - home and landlord insurance, life insurance, health insurance, and more.
American Family is best-known for its affordable bundling policies: It isn’t the cheapest on the market, but the company offers generous discounts to make up the standard costs.
Financial Stability
Although the company doesn’t cover all 50 states, it’s still one of the strongest insurance companies in the US. Its financial stability earned American Family an A rating on AM Best Rating Services, so rest assured - you’re in safe hands.
Coverage Options
American Family offers standard options for mandatory coverage: Bodily injury coverage, property damage liability, and uninsured motorists are all included. To get a quote, you need to fill the online form. Aside from mandatory coverage, you can also purchase comprehensive and collision insurance.
If you are on a budget, American Family can cover you, but there are also additional coverage options for those who can afford to splurge. The company offers emergency road services, medical coverage, rental coverage, and other common types of insurance you’ll also find at other companies.
American Family offers insurance for those who want to protect their business vehicles. This policy is available for all types of vehicles - automobiles, trucks, vans, etc. American Family could be the perfect solution for vintage car owners, too. The company offers a special type of coverage for automobiles that are more than 20 years old.
Price for Minimum Coverage
Insurance rates depend on other factors too, like car type and car age. And, as is the industry standard, American Family saves its cheapest rates for experienced drivers without prior convictions. Customers can opt for a policy with two or more drivers as well, which again impacts the premiums.
The cheapest mandatory coverage just meets the Colorado requirements - bodily injury liability of $25,000 per person and $50,000 per accident, and property damage liability capped at $15,000 per accident.
Upon requesting a quote for a 30-year-old single woman with a clean driving record, we got a price of $1,005 per year for minimum coverage, without discounts applied - more expensive than other insurance companies.
Price with Comprehensive and Collision
We also asked for an additional coverage quote, and the price was $2,018 per year. It may seem like American Family prices aren’t the cheapest, but there are various discounts to decrease your yearly rates.
Discounts
American Family’s main selling point is the number of discounts you can get. There are over 15 available discounts, including those for multiple vehicles, good drivers, defensive drivers, teen safe drivers, an anti-theft discount, and more. There’s also a generous 30% off opportunity for bundling policies.
Customer Satisfaction
Opinions about American Family are mixed: While some say it offers the most affordable coverage if you qualify for a discount, others rated this company less generously because of claim processing. On BBB, the company holds an A+ rating, and it also scores 4.1 out of 5 points on JD Power. However, NAIC rated the company with 1.36 - that means lots of negative reviews.
Progressive
- • Well-organized website
- • Reliable company
- • Quotes comparison tool
Progressive may be one of the oldest insurers on the market, but the company is determined to keep pace with the times: 18 million Americans insured with Progressive policies would say it’s succeeding, too. Thanks to competitive rates and generous discounts, the number of Progressive clients is growing, well, progressively.
Financial Stability
We can happily assure you that this is a completely stable company. It has an A+ rating on AM Best Rating Services, meaning that it should have no trouble covering its policyholders’ claims.
Coverage Options
Progressive offers standard insurance plans that fulfill minimum state requirements. It also has a wide range of additional insurance options, like emergency road services, rideshare insurance, or rental car reimbursement.
If you run a food delivery business, Progressive might be the best option for you. The company offers affordable insurance for commercial vehicles, including cars, motorbikes, or food trucks.
Progressive also extends additional insurance options to help protect your antique automobiles, but this policy doesn’t come directly from Progressive. It’s actually covered by its partner, Hagerty.
There are two ways to evaluate rates with Progressive: The first option is to use the Name Your Price tool. You just need to enter your desired rate, and the company will send you a list of available options. The second avenue is the Compare tool - it lets you weigh Progressive’s quotes against those of other industry-leading providers.
Price for Minimum Coverage
The cheapest minimum coverage option we found is $888 per year. You can get a direct quote from Progressive’s website in only a few minutes, too.
Price with Comprehensive and Collision
To cover all our insurance bases, we looked into rates for drivers who recently got a DUI. The price they would need to pay for comprehensive and collision is $2,522 per year.
Discounts
The Progressive discount list is not as long as the one from American Family, but it is good enough to help out the average driver. The discounts are divided into several categories, including loyalty- and driver-based auto discounts, discounts for how you quote, and others.
Most discounts are available in Colorado, but you should check with a company representative to make sure.
Customer Satisfaction
Progressive comes with competitive rates and excellent savings opportunities, however, the number of complaints floating around, aimed both at payment delays and increases in premiums, shouldn’t be neglected. The numerous bad reviews brought Progressive’s NAIC score down to 1.33.
A Short Guide to Colorado Insurance
Even if you opt to insure your car with one of the providers we evaluated as the most affordable, you might have significant costs. Luckily, there are lots of things you can do to decrease your insurance rates:
Improve Your Credit Score
A good credit score is something that significantly influences the price of your car insurance. If you don’t have debts and you pay your bills on time, there is a good chance you’ll get lower insurance rates.
Look For Discounts
Most insurers offer a comprehensive list of discounts – discounts for students, good drivers, members of the military, multiple policies, etc.
You can also combine various discounts and save a lot of money on an annual level.
Choose the Insurance That Fits Your Vehicle Condition
It’s good to have comprehensive insurance but think about whether it’s worth paying for if your car is older or it has a low market value.
How We Evaluate Car Insurance Companies in Colorado
If this is your first time getting car insurance, all the options that one company can offer must seem plenty confusing - minimum liability coverage, collision, comprehensive, roadside assistance, etc, are all things you need to be savvy about.
The average car insurance cost in Colorado depends on what kind of insurance you want, but on also many other factors, like whether you’re a good driver with a clean driving record or not.
To help you understand how we find insurance companies, we can show you the list of criteria that helped us when writing our review of each:
Financial Stability
Some might not understand why the financial state of a company is the first criterion we take into consideration when evaluating its policies, but the reason is obvious.
Should you have a car accident, or, for example, a hurricane destroys your car, the first thing you would do is call your insurer.
A good provider should be able to pay for the expenses covered by your policy. This may seem like a given, but we came across many unreliable companies whose ability to settle their customers’ claims was questionable at best.
To make sure that a company we recommend has enough capital to cover any potential damages, we thoroughly checked each provider’s financial stability.
Coverage Options
The next thing we looked at were the insurance options available. Although most firms provide coverage for a variety of purposes, like property or healthcare, we focused on auto insurance available to Colorado drivers.
This was the tricky part of our research - since many big insurers don’t cater to Colorado, we had to be extra cautious.
Most auto insurance companies offer a standard set of options, including comprehensive and collision coverage, in addition to mandatory coverage.
Each mandatory policy must contain the car insurance minimums, enough to cover $25,000 of bodily injury per person and $50,000 per accident, plus $15,000 property damage liability per accident.
If you’re caught driving without insurance in Colorado, the penalties are enormous: You will either pay a fine, spend one year in jail, or perform 40 hours of community service.
Collision coverage, as the name suggests, covers the damage your car suffers from colliding with another vehicle. Comprehensive coverage insures you against damage caused by something other than another car, like from a natural disaster.
Mandatory Coverage Price
One of our goals was to find the cheapest mandatory coverage option. The prices you see in our reviews are for experienced drivers with no driving tickets. Keep in mind that costs also vary based on the type of car insured, and its age.
Price With Comprehensive and Collision
Of course, mandatory coverage is the cheapest, but it won’t be enough if you have an accident.
This is why we sought out the cheapest insurance offer that includes collision and comprehensive coverage.
Discounts
Most companies offer a wide range of discounts for good drivers, good students, multi-policy holders, etc.
Before purchasing a policy, check what type of discount you qualify for - it might save you a significant amount of money.
Customer Satisfaction
Many of the car insurance companies might give you low rates, but an affordable price is not the only aspect you should have in mind when looking for a good insurer.
Make sure to check out what their customers have to say about them and the quality of their services.
FAQ
Why is Colorado car insurance so expensive?
Average car insurance rates in Colorado are expensive primarily because of the state’s high accident rate. With several big cities and heavy traffic, smaller accidents happen every day.
What is the penalty for not having car insurance in Colorado?
Driving without car insurance is a misdemeanor, and the penalties are steep if you are convicted. You may pay over $1000 in fines and lose your license for up to eight months.
Furthermore, you can spend a year in prison or do 40 hours of community service. This is why it’s best to have at least mandatory insurance coverage.
Companies we evaluated offer cheap car insurance for minimum liability coverage. If you’re lucky, you might even qualify for a discount and save some money.
How much is car insurance in Colorado?
The average cost for minimum coverage in Colorado is approximately $636 per year. For coverage that includes collision and comprehensive, the average price is $1,690 per year.