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You'll find everything you need to know about Colorado car insurance here, as we explain what different types of auto insurance cover, provide expert advice on how much insurance to buy and provide average Colorado car insurance rates by ZIP code so you know what to expect to pay, as well as see how much you can save by comparing quotes.
Colorado's highest and lowest state car insurance rates are found along the Interstate 25 corridor -- as is just about everything in Colorado. Drivers in Black Forest pay dramatically more than those in Fort Collins, 125 miles north. You can see how nearly every ZIP in the state compares below. Enter your ZIP code, gender and choose among six age groups and three coverage levels to see what you can expect to pay for car insurance in your neighborhood.
Denver ZIP code 80219 is the most expensive in the state for car insurance, costing drivers an average of $1,680 for full coverage, based on a CarInsurance.com rate analysis. The state average is $1,404, which is $40 less than the national average of $1,355. Regardless of your location, however, you can save hundreds of dollars by comparing prices among insurers, because prices for the same policy will vary significantly. That's because no two insurers use the same formula for setting rates.
Though it's never wise to pick coverage amounts on price alone, the cheapest car insurance policy you'll get is almost always the one that just meets the state required minimum you need to drive legally. In Colorado, that means your policy will pay $25,000 for medical costs to those you injure in an accident, up to $50,000 per accident, and $15,000 for damage you to other cars and property. Your state minimum liability insurance, outlined below, does not pay for damage to your car.
Colorado car insurance requirements | |
|---|---|
| Colorado state law requires the following minimum car insurance coverage: | |
| Minimum bodily injury liability | $25,000/$50,000 |
| Minimum property damage liability | $15,000 |
It's never a good idea to choose car insurance solely on cost. Even a minor accident can exceed the limits of a bare-bones policy with state minimum liability only. Jumping from state minimum up to higher liability limits with comprehensive and collision costs more, but drivers will pay $1,044 more a year, or $87 a month. Just hiking your protection up to 50/100/50 is only an additional $59 a year, less than $5 a month.
| Coverage limits | Average annual rate |
|---|---|
| Liability Only – state minimum | $592 |
| Liability Only - 50/100/50 BI/PD | $651 |
| Full Coverage - 100/300/100 BI/PD$500 Comp/Collision deductible | $1,636 |
*The table shows the average annual rate of nearly every ZIP code in Colorado from up to six major insurance companies. Rates are for a male driver, age 40, with a clean record and good credit for a 2016 Honda Accord. Data was provided for CarInsurance.com by Quadrant Information Services.
If you’re on board to buy more than bare-bones coverage, you may be wondering exactly how much more car insurance you need.
Use our How Much Car Insurance Do You Need? tool to get a recommendation.
We recommend you buy more insurance than is required to legally drive a car in your state, especially if you have savings and assets. The more money you have, the more likely you are to be sued following a car accident should your insurance be insufficient to cover all the expenses. If your net worth is:
If you're leasing or financing your car, you must get coverage of 100/300/100 or higher.
Collision coverage pays for damage to your car after an accident that you cause. Comprehensive insurance pays to replace stolen cars and broken glass and for damages from vandalism, flooding, hail, fire and animal strikes. These optional coverages are usually quite cheap. Colorado drivers pay, on average, $287 a year for collision and $175 annually for comprehensive. If your car is:
If you buy comp and collision, check our guide to choosing a deductible amount.
Uninsured motorist coverage and underinsured motorist coverage are optional in Colorado. These coverages pay for damages if you’re hit by a driver with no insurance or a driver with coverage that’s insufficient to pay for your repairs and medical expenses.
Medical payments coverage can help pay for the medical or funeral expenses of covered drivers and passengers after an accident, regardless of fault, starting at $5,000 and up to $25,000. In most states, including Colorado, it's an optional addition to your car insurance policy. MedPay does the following:
If you and your passengers:
If you don’t own your car outright and have an accident, gap insurance pays the difference between the cash value of your car and the current outstanding balance on your loan or lease.
If you want to see how major insurers compare on price for three coverage levels, see average rates in the chart below:
| Company | State minimum |
|---|---|
| Geico | $335 |
| State Farm | $356 |
| Farmers | $464 |
| Progressive | $681 |
| Allstate | $695 |
| Company | 50/100/50 |
| Geico | $333 |
| State Farm | $414 |
| Farmers | $496 |
| Allstate | $732 |
| Progressive | $745 |
| Company | 100/300/100 |
| Geico | $813 |
| State Farm | $1,241 |
| Farmers | $1,516 |
| Progressive | $1,559 |
| Allstate | $1,889 |
*The table shows the average annual rate of nearly every ZIP code in Colorado from up to six major insurance companies. Rates are for a male driver, age 40, with a clean record and good credit for a 2016 Honda Accord. Data was provided for CarInsurance.com by Quadrant Information Services.
Visit the Denver car insurance page for rates by company, and to see how much insurance goes up for tickets and accidents
Proof of insurance via smartphone: Colorado law allows drivers to show electronic proof of insurance during a traffic stop. Thirty-one states total allow this.
Penalty for driving without insurance: A first offense will get you a $500 fine and four points on your driving record. Penalties escalate with fines of not less than $1,000, license suspension and community service if you are caught driving without insurance multiple times. And don't even think about driving during an insurance suspension: your license can be revoked for a full year.
Penalty for driving without registration: In Colorado, driving without registration is a class B traffic infraction, which has a $15 minimum penalty and a $100 maximum penalty.
DUIs: Penalties for a first Driving Under the Influence (DUI) offense the penalties are:
Total loss/Salvage title: There's no specific threshold for what's a total loss in Colorado. Most insurance companies will determine a vehicle to be a total loss when costs of repairs are between 51 to 80 percent of a vehicle's actual cash value (ACV), or basically when the repairs costs are more than the value of the vehicle and other associated claim costs (rental car, storage fees, and so on).
No age restriction for owning and insuring a car: Minors can buy and register a car in Colorado, as long as they have a driver's license or permit for identification purposes and are able to buy insurance. However, it may be difficult for minors to find someone who will sell them a vehicle; contracts with minors are typically voidable, so usually a dealer or private seller will require a parent or guardian to co-sign. The same holds true for car insurance policies, since they are also a form of a contract.
| 2016 | Company | Direct premiums written | Market share (%) |
|---|---|---|---|
| 1 | State Farm | 827,143 | 20.39 |
| 2 | USAA | 386,315 | 9.52 |
| 3 | Allstate | 375,073 | 9.24 |
| 4 | Geico | 365,797 | 9.02 |
| 5 | Progressive | 363,057 | 8.95 |
| 6 | American Family | 340,385 | 8.39 |
| 7 | Farmers | 326,122 | 8.04 |
| 8 | Liberty Mutual | 259,536 | 6.40 |
| 9 | Travelers | 99,516 | 2.45 |
| 10 | Nationwide | 88,369 | 2.18 |
Source: A.M. Best market share rankings are based on direct premiums written in 2016.
