Cheapest Car Insurance Rates in 2023
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Cheap SR 22 Auto Insurance in Colorado: Best Companies & Quotes
Car Insurance Expert
Joanna is an expert on understanding how the different laws and regulations in the car insurance industry shape the way that policies work.
If you want to find the best policy for the least amount of money in Colorado, there are a few things you can do to make it a reality. The first is to check rates at auto insurance companies you might not consider, such as Grange Insurance Association, State Farm, American Family, Auto Owners, and The Hartford. These companies boast the best average rates in Colorado, which is what makes them a wise starting point.
Best Car Insurance Companies in Colorado
- American Family
- State Farm
- Farmers Insurance
|Allstate||American Family||Geico||Progressive||State Farm||Farmers Insurance|
|AM Best Financial Strength Rating||A+||A||A++||A+||A++||A-|
|JD Power 2019 Overall Customer Satisfaction score||3/5||4/5||3/5||3/5||3/5||3/5|
|Avg Annual Premium||$1,966||$1,526||$1,109||$1,489||$1,428||$1,036|
|Consumer Reports Reader Score||72||76||78||75||78||72|
Auto Insurance Statistics in Colorado
According to NAIC.org, the auto insurance premium in Colorado have been decreasing over the past decade. Previously, Colorado’s insurance premiums were above the national average, but, in recent years, auto insurance policy holders have been able to pay much less for their auto insurance coverage.
Top 10 Cheapest Car Insurance Companies in Colorado
|Rank||Company Name||Avg. Annual Premium|
Drunk Driving Fatalities
Every year, drunk drivers cause accidents on the road, and in some cases, these accidents can prove to be fatal. The National Highway Traffic Safety Administration has done a tally of the number of drunk driving fatalities in Colorado vs. nationwide.
Drunk driving fatalities in Colorado from 2013 to 2017
Teen Drinking and Driving
Teen drinking and driving in Colorado has remained higher than the nationwide average. The legal drinking age is 21 years old, however, teenagers drinking and driving has become common in many states around the country. The below statistics represent the percentage of Colorado drivers that are teenagers who are drinking and driving when compared with national averages.
Teen Drinking & Driving in Colorado vs. Nationwide (2017)
SR-22 Insurance in Colorado
An SR-22 insurance policy is an auto insurance policy with a stipulation that requires the insurance provider to notify the Colorado DMV if the policy is cancelled. Individuals are mandated to purchase this type of policy if they have committed a serious driving infraction.
Because the state of Colorado needs extra assurances that you are covered by the right amount of financial protection, an SR-22 is a necessary tool for ensuring you don't cancel your policy after proving that you have coverage. If you're a Colorado driver that wants to alter or change your SR-22, you must purchase an entirely new policy before you cancel the other one.
Car Theft in Colorado
When buying car insurance, it is helpful to be aware of the possibility of theft while picking the right coverage for your vehicle. Comprehensive insurance in Colorado is the one to choose when you want to make sure that your vehicle is protected even in the event of theft. The below data shows how Colorado ranks against other states nationwide in the number of car thefts.
Vehicle Thefts by Rank Nationwide vs. Colorado
Uninsured Motorists in Colorado
When a driver that is uninsured does damage to your vehicle or causes you personal injury, you will need to make sure that you are covered against this type of damage. The best way to do this is to get uninsured and underinsured motorist coverage. The below data shows how well Colorado ranks in the total number of reported uninsured motorists in the state in the year 2015.
Percentage of uninsured drivers (Top 19 States in 2015)
Check Your Credit
One of the easiest ways to keep your insurance policy affordable and cheap is to have good credit. The better it is, the less you pay. All insurance companies run a credit check on their new customers to see what kind of people they are. If you have low credit you won’t be denied insurance, but you will pay a much higher premium. Even if you know you have poor credit, check your score to see if there are any mistakes on your report. If there are, spend the time to dispute them so you can raise your score even just a bit. Every little bit helps.
Check for Safety Features
Did you know your car might have several safety features that make it a better car to drive? Newer cars are less expensive to insure, cars with alarms, driving assistance features, and even OnStar or the manufacturer equivalent are safer than other vehicles. If your car has any of these options, let your insurance agent know so they can offer you the best discounts.
You obviously won’t sell your home and move into a new neighborhood to save a few bucks on your car insurance, but you can make it cheaper by living somewhere less populated and safer. If you are planning a move while you are shopping for new insurance, check to see if the areas you’re considering living are considered safer. If they are, you might get a nice discount on your car insurance. Accidents are most likely to occur close to home, which means you’re safer living somewhere in which “Home” is away from major highways and theft rings.
Drive an Unobtrusive Car
When you drive a car that’s hot, people want it. This is not to say driving a Lamborghini means it’ll be more likely to end up stolen. What this means is there is an annual list released of the hottest cars for theft on the market, and they’re usually the cars you wouldn’t consider. Hondas, for example, have several models that top that list. Be aware of what you drive and where it falls on this list, and you’ll pay lower premiums if your car does not make an appearance on it.
Getting to know your credit, your car, and your neighborhood can affect the rates you pay for car insurance. You want cheap car insurance, but you want good car insurance. Don’t go for the cheapest policy without first ensuring it covers all you need covered. Additionally, don’t choose a policy without first shopping around. If you’re a long-time customer of a certain insurance agency, call your agent and ask what you can do to keep your rates a little lower. They might offer you a discount for being a loyal customer so they don’t risk losing your business to another insurance company. Know what you can do, where you stand, and what you have to work with so you can get the cheapest auto insurance rates in Colorado.
Types of Auto Insurance Coverage in Colorado:
- Uninsured/Underinsured Motorist Bodily Injury Insurance
- Uninsured Motorist Property Damage Insurance
- Bodily Injury Liability Insurance
- Property Damage Liability Insurance
- Comprehensive Insurance Coverage
Minimum Requirements for Car Insurance in Colorado
There are minimum requirements for car insurance in the state of Colorado. The basic type of coverage that every driver in Colorado is required to have is liability coverage in accordance with the rules of the Department of Regulatory Agencies. (DORA)
Colorado Liability Coverage minimum coverage:
$5,000 per accident in medical coverage. This option can be declined by the consumer
$25,000 per person for bodily injury or death
$50,000 per accident in the case of bodily injury or death (involving multiple injured individuals)
$15,000 per accident for property damage
Lack of proof of insurance when requested can result in a suspended registration, suspended license, or the vehicle being impounded.
Cheap Auto Insurance Discounts
Our goal is to find the best ways to save you money on the car insurance coverage you need. If you are looking for cheap car insurance online, one of the best options is to find the available car insurance discounts that may apply to you. We have compiled a list of frequently used auto insurance discounts that Colorado drivers may find helpful.
- Car safety features discount
- Military or Veteran discount
- Mature driver discount
- Multi-car auto insurance discount
- Senior citizen discount
- Defensive driving discount
- Good student discount
- Infrequent usage discount
- Low-mileage discount
- Bundling insurance policies discount
- Anti-theft discount
With the topics covered based from your most frequently asked questions, find out everything there is to know about auto insurance in Colorado.
Getting your Auto Insurance
From identifying the right auto insurance for you to preparing the requirements before purchase, this section would guide you to the right track in getting your insurance.
Who needs car insurance in Colorado?
What is considered full coverage auto insurance in Colorado?
What car insurance is required in Colorado?
What is the minimum auto insurance coverage in Colorado?
What is good auto insurance coverage in Colorado?
What documentation do you need for auto insurance in Colorado?
In Colorado, do you need a car insurance when you buy a car?
How does insurance work when you buy a new car in Colorado?
How do I get Colorado driving insurance without a car?
What do you need to get car insurance in Colorado?
What documentation do you need to get auto insurance in Colorado as a nonresident?
What companies offer auto insurance in Colorado?
Who is the leading car insurance provider of Colorado?
Who are the best rated car insurance companies in Colorado?
What if I can’t afford insurance on a motorcycle?
Car Insurance Costs
Everything revolving around pricing and cost concerns, you will find in this section.
How much is a car insurance in Colorado?
Why is Colorado car insurance so expensive?
What is the cheapest car insurance in Colorado?
Why are auto insurance rates going up in Colorado?
What is the average car insurance cost in Colorado Springs 80911 for 2018?
How much is car insurance in Colorado for a 19 year old?
How much is liability car insurance for a 34 year old female in Colorado?
How do I compare car insurance quotes in Colorado?
Why did my GEICO auto insurance premium go up in Colorado?
How expensive is auto insurance in Utah vs Colorado?
What things affect my auto insurance rate in Colorado?
What kind of car insurance coverage do I need in Colorado?
What insurance do I need for a leased car in Colorado?
Are there government car insurance discounts for seniors?
Violations and Potential Consequences
In this section, you’ll get to know more about rules, restrictions, and regulations on auto insurance as well as repercussions of failing to follow it.
What happens if you get in a car accident without insurance in Colorado?
How soon do you have to have car insurance for a new car Colorado?
In Colorado, how long after purchase of a used car is insurance required?
How long does it take to get insurance money after a car accident Colorado?
What is the law about driving with no car insurance in Aurora, Colorado?
How long does auto insurance have to give a notice of non renewal in Colorado?
How far back does Colorado car insurance look at your driving record?
How long does a speeding violation stay on your auto insurance record in Colorado?
How long does an accident affect car insurance Colorado?
What are the legal limits for auto insurance in Colorado?
Whose insurance pays for borrowed car in Colorado?
Which auto insurance companies will insure anyone in Colorado?
Dealing with Accidents and Insurance Companies
This section should serve as a guide on some protocols and how-to’s after an accident.
How long do I have to file an insurance claim on my car in Colorado?
What happens if insurance totals your car Colorado?
What to do if car is hail totaled by insurance company in Colorado?
What are your rights when insurance totals your car in Colorado?
How do I sign over a Colorado car title to insurance for totaled vehicle?
What do I do if I disagree with insurance companies estimate of damage to my car Colorado?
What if someone hits my car and has no insurance in Colorado?
How do I get someone's auto insurance information in Colorado from DMV?
Other FAQ on Auto Insurance in Colorado
Other issues you may have that have not been address in previous sections would be found here. In this section, you will find information about cancelling your auto insurance as well as reporting fraud.