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The cheapest car insurance companies in Colorado
Colorado drivers have a variety show of options when it comes to car policy. however, average car indemnity rates tend to be expensive in The Centennial State. The average premium costs $ 2,016 per year for broad coverage and $ 518 per class for minimal coverage in Colorado. It makes sense that many drivers are looking for a more low-cost premium. To find the cheapest car insurance in Colorado, Bankrate ’ s policy editorial team utilized average company rates from Quadrant Information Services and assessed trusted third-party ratings to identify the cheapest carriers with excellent fiscal force ratings and high customer atonement scores. Based on our evaluation, we identified respective providers that stand out for offering cheap cable car insurance in Colorado.
The cheapest companies for minimum coverage in Colorado
Minimum coverage cable car indemnity is a requirement for every driver in Colorado. Minimum coverage policies tend to be the cheapest, but they offer the least come of coverage and may not offer you the level of fiscal protection you need. If you are concern in purchasing a minimum coverage policy, here are the five bum car indemnity companies in Colorado based on Bankrate ’ s inquiry :
| Car insurance company | Average annual minimum coverage premium | Average monthly minimum coverage premium |
|---|---|---|
| American National | $207 | $17 |
| Geico | $283 | $24 |
| Grange | $299 | $25 |
| USAA | $303 | $25 |
| State Farm | $435 | $36 |
The cheapest companies for full coverage in Colorado
Full coverage policies include liability policy and collision and comprehensive coverage. Policies with broad coverage offer significantly more fiscal protection than minimum coverage since they include coverage for damage to your own fomite as well, though the add fiscal protection will come at a higher cost. We identified five cheap car insurance companies that offer low-cost full coverage premiums in Colorado :
| Car insurance company | Average annual full coverage premium | Average monthly full coverage premium |
|---|---|---|
| American National | $767 | $64 |
| Geico | $1,106 | $92 |
| USAA | $1,310 | $109 |
| State Farm | $1,696 | $141 |
| Allstate | $1,711 | $143 |
Events that can impact your cheap rates in Colorado
There are a variety of factors that can impact your car indemnity bounty. additionally, certain situations can cause your rate to increase. here are some of the most common events that may lead to a higher premium :
- Adding a teen driver to your policy: If you add a teen driver to your car insurance policy, your rate will almost certainly increase. This is because teen drivers aged 16-19 are inexperienced and are three times as likely to be involved in a fatal crash as drivers aged 20 and older. To offset the higher rate, many car insurance companies offer discounts for young drivers, like savings for earning good grades in high school and college. Also, keep in mind that your rate will generally gradually decrease as the teen gets older and gains more experience behind the wheel.
- Getting a speeding ticket: Your motor vehicle record has a big impact on your car insurance rate. If you receive a traffic violation, like a speeding ticket, you will probably see a rate increase when your policy renews. In most cases, a speeding ticket will negatively affect your car insurance premium for three years, according to the Triple-I.
- Getting into an accident: Unless you have accident forgiveness included in your coverage, expect an at-fault accident to impact the cost of your car insurance. Generally speaking, your auto insurance rate will be affected for up to five years after an accident. The rate increase can also be based on the severity of the accident and the extent of loss costs incurred.
- High-risk driver status: High-risk drivers usually pay the highest car insurance rates because they are risky to insure and are more likely to have claims. This includes drivers who have been convicted of a DUI, caused multiple accidents, have a low credit-based insurance score (in states that permit credit as a rating factor) or have been caught driving without auto insurance. Shopping for cheap car insurance as a high-risk driver may be more difficult because it is possible that some insurance companies will not insure you due to eligibility requirements.
Cheapest cities in Colorado for minimum coverage
One of the biggest factors that will impact your car policy rate in Colorado is where you live, and more specifically, your ZIP code. even if you move within Colorado, consider shopping around for indemnity because you may find that a different company can give you a cheaper rate in your raw area. The table below highlights the cheapest cities for car policy in Colorado for minimal coverage. You can compare these averages against the average car insurance rates in Colorado to get an idea of what you might pay in larger Colorado cities and metro areas .
| City | Average annual minimum coverage premium | Average monthly minimum coverage premium |
|---|---|---|
| Delta | $400 | $33 |
| Nucla | $400 | $33 |
| Redvale | $402 | $34 |
| Montrose | $403 | $34 |
Cheapest cities in Colorado for full coverage
Full coverage premiums differ between cities due to the monetary value of live, price of car repairs, larceny rate and accident rate, among early local factors. Bankrate compiled a list of the cheapest cities in Colorado for full coverage cable car indemnity in the postpone below :
| City | Average annual full coverage premium | Average monthly full coverage premium |
|---|---|---|
| Redlands | $1,608 | $134 |
| Fruitvale | $1,618 | $135 |
| Fruita | $1,626 | $136 |
| Clifton | $1,641 | $137 |
Minimum coverage requirements for Colorado drivers
Every Colorado driver must carry at least a minimal total of car indemnity. The minimal compulsory coverage in Colorado includes :
- $25,000 in bodily injury liability coverage per person
- $50,000 in bodily injury liability coverage per accident
- $15,000 in property damage liability coverage per accident
Although at least minimum coverage is required, indemnity experts typically recommend that most drivers purchase higher limits of indebtedness for more fiscal auspices. If you lease or finance your fomite, a full coverage policy may be required. While full coverage is broadly more expensive, you can shop around and compare full coverage quotes to help you find the lowest premium .
Here is how to find (and keep) cheap car insurance in Colorado
The average pace of car indemnity in Colorado is higher than the home average, making it apprehensible why many prioritize finding an low-cost rate. But evening after you ’ ve found a brassy cable car policy policy, the premium won ’ thyroxine stay the lapp everlastingly. It ’ s potential for cable car policy rates to fluctuate depending on external factors like clang statistics in your area, accident rates and even inflation. Any insecure driving habits resulting in a tag conviction or at-fault accident could besides affect your car policy premium. Below are some tips to help you find and keep cheap car policy in Colorado :
- Shop around: All car insurance providers calculate their rates so it’s possible that the quoted premiums may be different, even if everything else — such as policy coverage options and limits, vehicles and drivers — are the same. Discount opportunities can also vary, so it may be beneficial to request quotes from multiple companies to see which offers the cheapest rates for the coverage you want.
- Maintain a clean driving record: Individuals with clean driving records usually pay the lowest rates, as any infractions or at-fault accidents have the potential to add a surcharge to your policy. Additionally, many discounts are based on a clean driving record, such as a good driver discount, which typically requires drivers to be incident-free for a certain number of years. If you already pay a low rate, aim to avoid accidents and traffic violations, and practice safe driving habits to help keep your rate affordable.
Frequently asked questions
What is the best car insurance company in Colorado?
The best cable car policy company in Colorado varies. It depends on your singular coverage needs, budget, location and what you value in an car indemnity ship’s company. To find the best supplier, make sure to shop around and compare carriers using your personal criteria .
How can I lower my car insurance rates in Colorado?
There are a number of ways to lower your car insurance premium in Colorado. First, make certain you are paying the lowest rate by comparing quotes from respective insurers. You could besides take advantage of discounts, improve your recognition history ( in states where applicable ), raise your deductible, pay your annual premium in fully or bundle your policies ( such as car and home ), depending on what saving opportunities your insurance ship’s company offers .
Does car insurance get cheaper as I get older?
As a general rule, car insurance rates decrease as you get older. This is because older drivers have more experience than newly licensed drivers. however, keep in mind that your rate will always be pendent on factors other than age or driving experience alone, like your location, policy score, make and model of your vehicle, and your claims history.
Read more: The Best Car Insurance Companies for 2022
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean drive record, estimable credit and the succeed full coverage limits :
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each department of state ’ south requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually. These are sample rates and should entirely be used for comparative purposes .