Rocky Mountain Highs and Insurance Updates: Colorado 2024 Guide
Embark on Colorado’s breathtaking roads with these essential updates for 2024:
Colorado Vehicle Code Changes: - Distracted driving crackdown: As of July 1st, holding a phone while driving is completely prohibited, even at stoplights. Hands-free devices are still allowed. (Source: Colorado House Bill 1299)
- Motorcycle lane splitting: No changes to the current law allowing lane splitting under specific conditions like slow traffic and maintaining a 15 mph speed difference. (Source: Colorado Revised Statutes Title 42)
- Electric vehicle (EV) incentives: Colorado offers EV tax credits and rebates to encourage sustainable transportation. Explore available programs through the Colorado Department of Revenue. (Source: Colorado Department of Revenue)
Average Auto Insurance Rates in Colorado (2024): (Sources: The Zebra, Value Penguin) | Company | Minimum Coverage | Full Coverage |
| State Farm | $184 | $540 |
| Geico | $177 | $498 |
| Progressive | $188 | $481 |
| Farmers | $196 | $520 |
| USAA | $203 | $515 |
The cost of car insurance in Colorado vary based on factors like ZIP code, driving history, vehicle type, and insurance coverages selected. Factors Affecting Automobile Insurance
Not only do your insurance rates vary depending on where you live and the vehicle you drive, but several other factors can also influence the cost of vehicle insurance in Colorado. This includes:
- Age.
- Gender.
- Marital status.
- Driving history.
- Credit score.
- Insurance company.
- Coverages.
Colorado is an at-fault state, which means that when an accident occurs, the car insurance company of the person who caused the accident will pay for the injuries and damages caused. In Colorado, every automobile on the road must have liability car insurance. If you cause an accident, liability insurance covers the other party’s bodily injuries, as well as damage to their vehicle or property. If you drive your car without minimum liability car insurance, you could receive a fine of $550 or more. If you cause an automobile collision in the state of Colorado and you do not have auto insurance, your driver’s license may be suspended if you do not pay for the resulting damages and/or injuries. To help you find cheap car insurance in the Colorado, we’ve compared
cheap car insurance quotes from insurance companies in these Colorado counties:
- El Paso.
- Denver.
- Arapahoe.
- Jefferson.
- Adams.
Some of the cheapest car insurance companies with lower car insurance in Colorado are:
- Sun Coast.
- Bristol West.
- Dairyland.
- The General.
- State Auto.
- Kemper Auto.
Because the cost of automobile insurance in Colorado is dependent on your unique driving profile, we’ve gone a step further, we gathered car insurance quotes for these types of drivers:
- Good drivers (those with a clean driving record).
- Young drivers (those aged between 16 and 25).
- Bad drivers (those with a history of traffic violations).
Minimum Liability Auto Insurance in Colorado
Minimum liability insurance is a popular choice because you pay much cheaper car insurance premiums. However, it only covers the other driver’s injuries and property damage. This means that minimum liability auto insurance in Colorado doesn’t include protection for damage to your own vehicle or injuries sustained by you or your passengers. The minimum liability car insurance requirements in Colorado State are:
- $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.
- $15,000 for property damage in any given accident.
If you’re found to be at-fault in a car accident and you do not meet the minimum liability car insurance requirements, you will be held personally responsible for paying the other party’s medical bills, legal bills, and lost wages. As a major part of your liability insurance, bodily injury insurance covers medical bills for people other than the policyholder who are injured during an accident. We have found that on average, the cost of a minimum liability auto insurance policy in Colorado State is $231.90 per month. Sun Coast offers the cheapest car insurance rates for minimum liability coverage, which costs on average $148.40 per month.
| Cheapest Minimum Liability Car Insurance in Colorado |
| Provider | El Paso County | Denver County | Arapahoe County | Jefferson County | Adams County | Average |
| Sun Coast | $125.00 | $170.00 | $157.00 | $138.00 | $152.00 | $148.40 |
| Bristol West | $210.00 | $243.00 | $222.00 | $192.00 | $188.00 | $211.00 |
| Dairyland | $219.00 | $261.00 | $251.00 | $201.00 | $217.00 | $229.80 |
| The General | $271.00 | $324.00 | $292.00 | $280.00 | $291.00 | $291.60 |
| State Auto | $276.00 | $332.00 | $291.00 | $252.00 | $242.00 | $278.60 |
| Kemper Auto | N/A | N/A | N/A | $232.00 | N/A | $232.00 |
Inexpensive Full Coverage Car Insurance in Colorado
Unless you have significant savings, it would be beneficial to have full coverage car insurance to cover you in the event of the following scenarios:
- Theft or theft of parts.
- Non crash damage (e.g., natural disasters, fire, flooding).
- A broken windshield.
- Car damage from hitting an animal.
Key Point: Full Coverage Car Insurance Full coverage car insurance is made up of three different types of car insurance policies: - Comprehensive coverage: This type of insurance will compensate you if your car is totaled due to a non-accident-related event (e.g. fire, flood) or if it’s stolen.
- Collision coverage: This type of auto insurance will compensate you if your car is totaled or damaged in a car accident.
- Liability insurance: This type of insurance covers you for damage you may cause to another person’s property or injury/death you may cause while driving.
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Without full coverage car insurance, you risk finding yourself in a situation where you can’t drive your car because you can’t afford to get it repaired. To help you find the cheapest full coverage auto insurance in Colorado, we’ve compared auto insurance quotes offered by four different insurers. We have found that on average, the cost of a car insurance policy in Colorado is $330.17 per month. The two cheapest automobile insurance quotes in Colorado from carriers are:
- Sun Coast with average rates of $171.80.
- Travelers with average rates of $248.40.
| Cheapest Full Coverage Insurance in Colorado |
| Provider | El Paso County | Denver County | Arapahoe County | Jefferson County | Adams County | Average |
| Sun Coast | $145.00 | $196.00 | $184.00 | $157.00 | $177.00 | $171.80 |
| Bristol West | $433.00 | $463.00 | $488.00 | $371.00 | $399.00 | $430.80 |
| State Auto | $331.00 | $386.00 | $359.00 | $298.00 | $294.00 | $333.60 |
| Travelers | $248.00 | $264.00 | $278.00 | $219.00 | $233.00 | $248.40 |
| Dairyland | $328.00 | $396.00 | $371.00 | $310.00 | $324.00 | $345.80 |
| Liberty Mutual | $364.00 | $500.00 | $503.00 | $403.00 | $483.00 | $450.60 |
Affordable Car Insurance in Colorado for Drivers with Clean Driving Records
The best way to prevent an increase in your annual insurance premium is to maintain a clean driving record free of traffic violations and accidents. Drivers with a clean record are in a good position to find cheap insurance in Colorado. Auto insurance companies consider good drivers to be people who:
- Have not been the cause of any car accidents.
- Have not committed traffic offenses.
- Have a good credit score.
- Have not been issued speeding tickets.
- Have no reckless driving charges.
- Have no DUI convictions.
Some car insurance companies will offer an additional discount if you have completed an
accredited defensive driving course. We looked at the average price of car insurance offered by car insurance companies in Colorado for good drivers. We have found that on average, the cost of auto insurance for good drivers in Colorado is $265.97 per month. The two low cost car insurance companies for good drivers are:
- Sun Coast with average rates of $171.80 per month.
- Travelers with average rates of $228.20 per month.
| Cheapest Car Insurance for Good Drivers (Clean Driving Records) in Colorado |
| Provider | El Paso County | Denver County | Arapahoe County | Jefferson County | Adams County | Average |
| Sun Coast | $145.00 | $196.00 | $184.00 | $157.00 | $177.00 | $171.80 |
| Dairyland | $266.00 | $310.00 | $306.00 | $236.00 | $262.00 | $276.00 |
| State Auto | $313.00 | $369.00 | $337.00 | $283.00 | $277.00 | $315.80 |
| Bristol West | $337.00 | $367.00 | $371.00 | $297.00 | $308.00 | $336.00 |
| Travelers | $228.00 | $244.00 | $253.00 | $204.00 | $212.00 | $228.20 |
| Kemper Auto | $268.00 | N/A | N/A | N/A | N/A | $268.00 |
Cheaper Car Insurance in Colorado for High-Risk Drivers
Drivers with incidents on their record such as an at-fault accident or a DUI (driving under the influence) pay higher auto insurance in Colorado. Drivers with prior traffic violations are regarded by car insurance companies as being a higher risk to insure than those who have a clean traffic record. Insurance companies believe high-risk drivers are more likely to make future claims against their auto insurance policy. Some of the offenses that may lead to someone being considered a high-risk driver include:
- Reckless driving.
- Speeding tickets.
- Unpaid insurance policy premiums.
- A poor credit rating.
The average cost of car insurance for bad drivers in Colorado is $325.36 per month. The two cheapest auto insurance companies for bad drivers are:
- Sun Coast with average rates of $238.00 per month.
- Liberty Mutual with a rate of $239.00 per month.
| Cheap Auto Insurance for High-Risk in Colorado (DUI, traffic ticket) |
| Provider | El Paso County | Denver County | Arapahoe County | Jefferson County | Adams County | Average |
| Sun Coast | $198.00 | $273.00 | $256.00 | $218.00 | $245.00 | $238.00 |
| Dairyland | $391.00 | $462.00 | $449.00 | $353.00 | $389.00 | $408.80 |
| Bristol West | $306.00 | $345.00 | $325.00 | $282.00 | $276.00 | $306.80 |
| The General | $403.00 | $481.00 | $439.00 | $416.00 | $432.00 | $434.20 |
| Liberty Mutual | $239.00 | N/A | N/A | N/A | N/A | $239.00 |
Inexpensive Car Insurance in Colorado for Young Drivers
Since young drivers have less experience behind the wheel and tend to get into accidents more often, insurers typically charge them higher insurance rates compared to more mature drivers. Good student and driver safety course discounts and staying on a parent’s policy for as long as possible can help young drivers get low cost auto insurance. We’ve compared the cost of car insurance for young drivers in Colorado to help you save on auto insurance costs. Bristol West offers the cheapest vehicle insurance quotes for young drivers with average rates of $361.80 per month.
| Cheapest Car Insurance for Young Drivers in Colorado |
| Provider | El Paso County | Denver County | Arapahoe County | Jefferson County | Adams County | Average |
| Dairyland | $359.00 | $452.00 | $400.00 | $356.00 | $334.00 | $380.20 |
| Bristol West | $364.00 | $405.00 | $397.00 | $336.00 | $307.00 | $361.80 |
| The General | N/A | $659.00 | $628.00 | $576.00 | $601.00 | $616.00 |
Top Tips for Finding Affordable Car Insurance
Take note of lender requirements
If your car is financed or leased, banks or other financial institutions are likely to require that you have liability insurance, comprehensive and collision insurance. Full coverage car insurance protects your lender if you’re in a car accident or your car is stolen and you can no longer afford to meet your monthly payments. You should avoid allowing your auto insurance to lapse because single interest car insurance is much more expensive than standard car insurance.
Compare inexpensive auto insurance quotes from different insurance companies
Even if you think you’ve found a good price on car insurance, it’s always advisable to shop around for cheap auto insurance quotes. The only way to be completely certain that you’re getting the best price for car insurance is to compare affordable automobile insurance quotes from multiple insurers. You can do this yourself, but it is time consuming. You’ll need to phone each car insurance company or fill out an online form for them to give you a car insurance quote.
Search for discounts
Top vehicle insurance companies in Colorado have a variety of discounts, so almost anyone can find ways to save. You may be able to get a
discount if you’re a student, veteran, good driver, homeowner, willing to go paperless, and more. Make sure you ask your Agent or insurance company.
Coverage may be based on where you live
Car insurance prices can vary a lot based on the zip code where you reside in Colorado. On average, drivers that live in the
most expensive parts of Colorado spend over $800 more per year for full coverage car insurance than those living in the least expensive areas.
Top Car Insurance Companies in Colorado
1. State Auto
Established in 1921, State Auto takes great pride in being innovative and doing things differently, especially when it comes to:
- Overall customer service.
- Customer flexibility.
- Innovation and technology.
In addition to car insurance, State Auto offers homeowners insurance and umbrella insurance.
| Key Point: What Is Umbrella Insurance? Umbrella insurance provides additional protection over and above the existing limits and coverage of your other insurance policies. If the value of your assets is higher than their insured amount, umbrella insurance will cover the gap if you need to make a claim. |
State Auto also offers the following types of coverage:
- Liability: Covers your liability to others for bodily injury or property damage for which you are legally at fault.
- Medical payments/personal injury protection: Pays medical bills for you and others, including doctor, hospital, and surgical expenses, without regard to negligence.
- Uninsured/underinsured motorists: Pays for bodily injury resulting from a hit-and-run driver, a driver with no insurance, or a driver who is inadequately insured.
- Collision: Covers damage to your auto resulting from an accident.
2. Bristol West
Founded in 1973, Bristol West’s national footprint makes it one of the top ten biggest insurance companies in the U.S. Bristol West was originally created to provide high risk drivers with non-standard car insurance, and has since expanded its services to all types of drivers. Some of the benefits offered by Bristol West include:
- Multiple policy bundling discounts.
- Personalized car insurance policies.
- Rideshare coverage.
- Medical payments.
- Gap coverage.
- Towing and roadside assistance.
Car Insurance in Colorado FAQs
What are the car insurance requirements in Colorado?
Colorado law requires all drivers to obtain a certain amount of car insurance, which is often called minimum coverage.
- Bodily injury liability – $25,000 per person / $50,000 per accident.
- Property damage – $15,000 per accident.
What are the penalties for driving without auto insurance in Colorado?
According to the Colorado State Department of Licensing, if you drive without the required insurance, you could be ordered to pay a fine of $550 or more. In addition,
if you don’t have insurance, your license may be suspended if you cause a car accident and you’re unable to pay the injured parties’
damages.
What automobile insurance discounts are available in Colorado State?
In Colorado, car insurance companies consider factors such as employment, credit rating, as well as residential and marital status when setting auto insurance rates.
What reasons suspend my license in Colorado?
Reasons for the suspension of your license include:
- Alcohol and drug-related offenses.
- Driving without liability insurance.
- Points based suspensions.
- Not paying child support.
- Criminal convictions.
If you’re caught driving on a suspended or revoked license you can be
charged with a misdemeanor. In many cases, the maximum penalty is six months in jail and a fine of $500. If you have a second or subsequent conviction within five years, you won’t be eligible for a driver’s license for three years.
Is car insurance mandatory in Colorado?
Yes, all Colorado drivers must carry at least the minimum required liability insurance to drive. However, liability insurance only applies to the damage the other driver sustains, so you may consider also getting a full coverage automobile insurance policy to protect yourself from high out of pocket costs.
How do I find cheap car insurance in Colorado?
The best way to find cheap car insurance in Colorado is to get at least four inexpensive auto insurance quotes from different insurance companies. You should also compare them to see which one offers you the best deductibles and coverage limits at the cheapest insurance price.
Should you get cheaper car insurance in Colorado?
The cheapest car insurance quote may not always be the best option. On average, you can get cheaper auto insurance rates by opting for less coverage, but this leaves you exposed as you will get limited protection. For instance, a state minimum policy in Colorado will not cover the cost of damages to your car would have an accident and needs repairs
