House Grail is reader-supported. When you buy via links on our site, we may earn an affiliate commission at no cost to you. Learn more.

How Much is Car Insurance in Colorado in 2022?

man driving car during sunset

With prices on almost everything going up nowadays, it’s more important than ever to find the best prices. Luckily, you’re not locked to a single insurance provider in Colorado. This means that you can shop around.

Remember that shopping around doesn’t necessarily guarantee a better deal. However, if you take the time to shop around, you’ll know that you aren’t missing out on any potential savings.

This article explores some average prices from several insurance providers in Colorado. It also discusses some things that affect your rates and what you can do to ensure you’re getting the best prices possible.

car and road divider

Do You Need Car Insurance in Colorado?

Like pretty much everywhere in North America, you’re required to have valid insurance on your vehicle. This protects you and anyone you may be in an accident with financially. However, there is only a minimum requirement. Some insurances are optional but, in many cases, are just as advisable.

These are the required insurances in Colorado¹:

  • $25,000 for bodily injury or death to any one person in an accident;
  • $50,000 for bodily injury or death to all persons in any one accident; and
  • $15,000 for property damage in any one accident.

Keep in mind that you can always get higher coverage than these. For example, if you were in an accident and injured someone, they could sue you. If they sue you for more than the $25,000 of coverage, you would be responsible for paying the difference.

Additionally, you can purchase other insurances that pay for vehicle repairs and replacements or a loaner vehicle while you’re getting the claim sorted out.

female signing car insurance document
Image Credit: Opat Suvi, Shutterstock

How Much Does Car Insurance Cost in Colorado?

Because there are so many variables, it’s hard to get accurate quotes. For these prices, we’ve based the information on a middle-aged adult who is driving a mid-size SUV to and from work in Denver. The price range signifies various levels of coverage on that policy.

Keep in mind while viewing these rates that there is a good chance you’ll be able to find additional savings by bundling multiple insurances or taking advantage of other special savings these companies offer. In addition, your rates will vary depending on the area of Colorado you live in. However, as a general rule, a city like Denver will typically be more expensive than a smaller town.

Insurance Provider Annual Rate
Progressive $467–$1,122
All State $445–$1,273
Geico $419.86–$1,163.46

Factors Affecting the Cost of Car Insurance

The above rates are averages based on a limited number of factors. Regarding your rates, several things can affect the price of your car insurance. Some of these you can help, some you can’t. Let’s take a look:

  • Age: As a general rule, the older you get, the better your rates because the insurance companies see older adults as a lower liability. You can’t help your age, but as long as you keep driving responsibly, your rate will get better every year you’re driving.
  • Driving Record: If you’ve been in accidents and made insurance claims, you will be penalized heavily. So, avoiding accidents and using your insurance will help your long-term and short-term rates.
  • Credit Score: This is one more reason why taking care of your credit score is important. Simply paying bills on time can improve your insurance rates with a better credit score.
  • Vehicle Type: Certain vehicles will actually be more expensive. For example, a sportscar that’s designed for speed and performance will typically have a much higher rate than a car like a minivan.
driver holding the steering wheel of a car
Image Credit: 5033181, Pixabay

Saving on Car Insurance in Colorado

There are a few things you can do to help save you some money in car insurance:
  • Shop around and compare quotes to ensure you’re getting the best deal.
  • Most providers will give significant discounts if you bundle multiple policies with them.
  • Only insure for the protection you need or care about.
  • Choosing a higher deductible will typically give you a significant decrease in cost. However, you’ll have more to pay out of pocket if you have an accident, so consider that.

Insurance Prices in Colorado Compared to Other States

You’re probably wondering how insurance prices in Colorado compare to other states.

Unfortunately, if you’re insuring a car in Colorado, you’ll be paying significantly more than the nation’s national annual average.

Several reasons contribute to insurance rates being higher:
  • Uninsured and Underinsured Vehicles: The more vehicles driving without insurance, the higher the rates will be in those areas to compensate for the lack of insurance.
  • Highway and Urban Density: More people equals a higher chance for accidents.
  • High Vehicle Theft: Colorado’s vehicle theft is through the roof, resulting in higher insurance premiums.
cars in a traffic jam
Image Credit: 0532-2008, Pixabay

Getting Car Insurance in Colorado

After shopping for the best rates, the provider you choose can walk you through the process. Each provider may do things with some slight differences. Essentially, you will provide the company with all the pertinent info: vehicle type, your driving record, social security number, financial info, etc.

Once the company has all this info, they will likely give you your coverage options, and then you’ll get a contract to sign, and you’re good to go.

car and road divider

FAQ

How do I register my car in Colorado?

There are a couple of things you’ll need to insure a car in colorado: proof of Colorado vehicle emissions and proof of insurance.

Does my car need an inspection?

Suppose your vehicle is more than 8 years old. In that case, it will need an inspection to ensure everything is in working condition.

Is Colorado a no-fault state?

Colorado is not a no-fault state, meaning if there is an accident, whoever is at fault will have the claim filed on their insurance.

car and road divider

Conclusion

Colorado may be far from the cheapest state in the United States for car insurance. But hopefully, after reading this article, you’re equipped with the tools and the knowledge to find yourself the best rates possible.

Also, remember that even if you’re not getting the best rate right out of the gate, that can improve over time. Improve your credit and drive safely, and you could save yourself a lot of money down the road.


Featured Image Credit: serjan midili, Unsplash

Related posts

OUR categories

Project ideas

Hand & power tools

woodworking

Garden

Automotive