Key Takeaways:
- Colorado residents typically pay 10% more for auto insurance, with USAA being the least expensive provider.
- Colorado’s auto insurance costs are gradually going down; they are 10% less than a year ago.
In Colorado, the average annual cost of auto insurance is $1,687, which is 10% more than the national average. There are other factors besides your residence that affect your auto insurance rates. Auto insurance prices are determined by underwriters using a variety of criteria, such as credit score, marital status, driving record, and age. To assist you in finding a policy that meets your needs, numerous specialists have examined average Colorado auto insurance rates for each of the most popular rating categories.
What are the top auto insurance providers in Colorado?
USAA
In addition to winning The Zebra’s Customer Satisfaction Survey, USAA scored 870 (out of 1,000) in Colorado’s J.D. Power 2021 U.S. Auto Insurance Study.
American family
This regional carrier received 4.3 stars out of 5 on The Zebra’s Customer Satisfaction Survey and an 850 on J.D. Power’s 2021 Auto Insurance Study.
State Farm
State Farm scored 847, which was the second-highest in this region according to J.D. Power’s 2021 Auto Insurance Study. Additionally, State Farm ranked third overall in the Zebra Customer Satisfaction Survey.
What are the Colorado auto insurance providers with the lowest rates?
- USAA has the lowest cost full coverage insurance. On average, USAA has the lowest rates.
- Nationwide, the least expensive for bad credit. Nationwide is typically the least expensive option for Colorado’s minimally necessary coverage.
- State Farm has the lowest DUI costs. Check out State Farm for the most affordable average rates if you have a DUI on your record.
Colorado regulations pertaining to auto insurance
Almost all states require auto insurance, and Colorado is no different. In Colorado, the legal minimal coverage level will run you around $508 a year. This is 6% less expensive than the national average. Examine the coverage tiers that are necessary for all drivers in Colorado, as well as the optional coverage options that the majority of insurers provide.
State-mandated minimum insurance
Liability coverage with the following limits is the minimum required by state law in Colorado:
- Physical harm $25k per person
- $50,000 in bodily harm for each incident
- Property Losses $15,000 for every mishap
Colorado optional coverage (varies per carrier):
- Entire Collision
- Payback of Loans and Leases
- Funeral and Medical Services
- Rental Car Compensation
- Roadside Support Services
- Uninsured Driver Physical harm
- Damage to Uninsured Drivers’ Property
What does this mean for you?
In Colorado, the average annual premium for auto insurance is $1,687. However, a number of variables, including age, marital status, driving record, and credit score, affect the real cost of auto insurance. Using internet resources like Value Penguin or The Zebra, you may locate the best auto insurance quotes in Colorado. These programmes offer customised quotations based on your driving profile and compare prices from leading auto insurance providers in every ZIP code in the state. Additionally, you may estimate your Colorado auto insurance prices at three different coverage levels using the vehicle insurance rate calculator on CarInsurance.com.
