Denver, CO Auto Insurance | Cheap Auto Insurance in Denver, CO
The average cost of Denver, CO auto insurance is $370/mo or $4,451 annually. However, your Denver auto insurance rates will vary based on the company you choose, your coverage limits, and your age, credit score, driving record, and vehicle make and model. A minimum coverage policy in Denver will be much cheaper than a full coverage policy. To secure your best rates, read through our guide and learn how to compare multiple companies and policies in order to find your perfect match.
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UPDATED: Jan 28, 2021
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- Denver, CO auto insurance rates are $370 per month or $4,451 annually on average.
- Young drivers in Denver, CO will pay more for minimum coverage auto insurance than older drivers.
- Major factors that affect your auto insurance in Denver, CO include your age, driving record, and ZIP code.
- Driving fewer miles than average in Denver, CO can save you hundreds per year on auto insurance costs,
Drivers looking for cheap Denver, CO auto insurance rates have come to the right place. You can secure affordable auto insurance in Denver, CO by learning about the various factors that affect auto insurance rates in your city.
The best companies that provide auto insurance in Denver, CO are Farmers, The Hartford, State Farm, Amica, and Allied. Farmers auto insurance leads as the cheapest company with policies as low as $43 per month for some Denver, CO drivers.
Read through our guide to learn how to easily compare auto insurance companies in Denver, Colorado so you can find a provider that will offer you cheap rates without any gaps in your policy.
Can’t wait to get started? Enter your five-digit Denver ZIP code into our FREE online quote comparison tool above to find affordable auto insurance quotes in Denver, CO right now.
How much is the average cost of Denver, Colorado auto insurance?
When you’re searching for auto insurance, sometimes you just want a straight answer as to how much it cost. If you live in Denver, we won’t keep you waiting.
Examine the average cost of Denver auto insurance compared to the state and national averages in the table below.
Denver, CO Average Monthly Rate Colorado Average Monthly Rate National Average Monthly Rate
$370 $146 $129
At an average rate of $370 per month, Denver, CO car insurance is substantially more expensive than both the state and national average.
However, your specific auto insurance rates could be very different, depending on the company you use, your coverage limits, and other factors that determine auto insurance costs.
Continue reading to find out how you can secure cheaper rates in Denver, Colorado.
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Denver, Colorado Auto Insurance Coverage Requirements
Auto insurance is legally required in 49 states, and Colorado is no exception. However, the specific amount you must purchase changes by state.
In the table below, you can see the legal minimum insurance requirements for Colorado drivers.
Coverage Requirements Most Common
Bodily Injury Liability 25,000/50,000 100,000/300,000
Property Damage Liability 15,000 100,000
Uninsured Motorist Bodily Injury Not required 100,000/300,000
Medical Payments Not required 5,000
Collision Not required 500 deductible
Comprehensive Not required 100 deductible
The minimum Colorado auto insurance limits require all drivers to have 25/50/15 in liability coverage. Liability insurance only pays if the driver is at fault for the accident. In other words, this coverage only kicks in if the accident was deemed your fault.
The coverage will pay for damages to the other driver’s property or any potential bodily injuries.
Many Denver drivers, therefore, choose to purchase fuller coverage policies. In particular, uninsured or underinsured motorist coverage is recommended if you live in Colorado, due to the state’s high number of uninsured motorists.
Watch the following video for more information about why Denver, Colorado drivers might want to add uninsured or underinsured motorist protection to their auto insurance policy.
Likewise, if you purchased a newer vehicle and are still financing it, your lender might require you to purchase additional insurance coverage, whether you like it or not.
It may be advisable to get more than the minimum in the event your car is stolen, or someone else causes the accident.
Let’s examine what the monthly cost is for Denver auto insurance by company. We compare rates for median-aged drivers versus younger and older drivers.
For those wondering what we mean by median-aged drivers, we’re referencing the median age of residents living in Denver, CO. According to DataUSA, the Denver, CO, median age is 35 years old.
Check out the data in the table below.
Company Married 60-Year-Old Female Married 60-Year-Old Male Married 35-Year-Old Female Married 35-Year-Old Male Single 25-Year-Old Female Single 25-Year-Old Male Single 17-Year-Old Female Single 17-Year-Old Male Average
Liberty Mutual $1,836.78 $2,027.48 $2,152.52 $2,070.11 $2,170.91 $2,171.82 $6,857.91 $7,473.77 $3,345.16
Geico $2,328.21 $2,687.95 $2,142.65 $2,361.30 $1,950.32 $1,957.88 $6,903.16 $7,264.69 $3,449.52
USAA $2,235.81 $2,215.57 $2,325.19 $2,302.28 $2,988.33 $3,222.57 $6,083.47 $6,940.55 $3,539.22
State Farm $2,161.36 $2,161.36 $2,370.24 $2,370.24 $2,665.33 $3,162.98 $7,160.34 $9,021.73 $3,884.20
American Family $2,765.92 $2,765.92 $3,064.31 $3,064.31 $3,064.31 $3,746.79 $7,423.40 $9,987.15 $4,485.26
Nationwide $2,671.05 $2,817.87 $2,986.08 $3,034.77 $3,452.24 $3,725.59 $7,706.24 $9,842.89 $4,529.59
Progressive $2,469.34 $2,454.74 $2,806.57 $2,618.29 $3,158.58 $3,059.54 $9,904.88 $11,055.79 $4,690.97
Farmers $3,091.04 $3,345.58 $3,425.11 $3,393.56 $3,765.21 $3,784.69 $13,596.44 $13,738.74 $6,017.55
Allstate $3,354.81 $3,385.29 $3,692.79 $3,443.55 $4,013.11 $4,009.49 $13,194.85 $13,882.69 $6,122.07
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Most drivers in your city find themselves paying around $370 per month for automotive insurance. However, Denver drivers have the opportunity to pay much less when they enroll in minimum coverage.
Geico is one of the few companies that rewards young drivers for having a good driving record. However, other companies carry auto insurance discounts that compete with Geico and other top competitors.
However, you can clearly see how different companies offer different rates, and no two companies calculate rates in the same way. Now you understand why comparison shopping is so important.
Continue reading to learn more money-saving tricks and tips for cheap auto insurance in Colorado.
Cheapest Denver, Colorado Auto Insurance Companies
The Hartford, Farmers, and State Farm provide some of the lowest Denver area auto insurance rates right now. However, your individual rates will vary based on your age, ZIP code, driving record, and more.
There are many other providers you may come across during your research who might provide you with more competitive rates, such as Geico auto insurance in Denver, Colorado.
With that in mind, let’s review the cost of cheap auto insurance companies in Denver, CO. Take a look at monthly rates in the graph below.
Auto insurance companies are constantly changing rates and updating data, so be sure you shop around. Not to mention that a low rate doesn’t necessarily predict good customer service or a smooth claims process.
Auto insurance providers evaluate numerous elements when assessing insurance quotes, including your driving violations, accident claims, credit score, miles driven each year, and how many cars and drivers you’re including on your policy.
Additionally, premiums differ from provider to provider. To verify you’re still receiving the most affordable Denver, Colorado, auto insurance, compare auto insurance quotes online.
Major Auto Insurance Factors in Denver, Colorado
There are lots of ways in which your auto insurance rate may be estimated. But not all of it is out of your control. There are things you can do so that you can control what discounts you are entitled to acquire.
Listed below are a few of these components that majorly affect your Denver, CO auto insurance rates.
What ZIP codes have the cheapest auto insurance rates in Denver, Colorado?
Where you park your car at night matters to your insurance provider. If you live somewhere with higher crime rates or with a dense population, you’re at a bigger risk of getting into an accident or having your vehicle stolen.
The cheapest Denver auto insurance is therefore usually found in neighborhoods within the city with a lower population density. Because there are fewer automobiles on the road, there are fewer opportunities for you to get into a major car accident with another driver.
The population of Denver is 649,495, and the median household income is $51,089. Because there are so many people in Denver, the city is split between several ZIP codes.
As you’ve now learned, different ZIP codes can produce cheaper rates, and others can produce more expensive rates.
In the following table, you can examine the average monthly rate for every Denver, Colorado ZIP code. Find yours below.
Denver, CO ZIP Code Average Annual Auto Insurance Rate
If your Denver ZIP code is 80229, you’re saving $552 per year on auto insurance compared to your fellow Denver neighbors living in the 80219 ZIP code. If your Denver ZIP code is 80219, you’re receiving some of the highest rates in the entire city.
How do the monthly rates Denver residents pay for auto insurance compare to drivers living in other major Colorado cities? Find out in the graph below.
When measured by multiple companies, Denver, CO auto insurance is more expensive than most Colorado cities. This is likely because of the dense city population.
However, you can avoid expensive rates under the right conditions. Ask about discounts you qualify for, and compare quotes from various companies to ensure your provider is a compatible match with your needs. Read on to learn more.
Automotive Accidents in Denver, Colorado and Your Auto Insurance Rates
The lower the rate of fatal accidents in your ZIP code or city, the less you’ll end up playing in auto insurance premiums.
Take a detailed look at the Denver fatal accident statistics in the graph below.
As you can see in the chart above, the accident rate in Denver is actually a little high. Unfortunately, this may have a negative effect on your monthly premiums.
These numbers help explain why Denver residents pay more for auto insurance compared to other cities in Colorado with fewer fatal accidents annually.
Auto Thefts in Denver, Colorado and Your Auto Insurance Rates
Auto theft is another major problem, especially in densely populated cities. If your location and vehicle model put you at a greater risk for theft, you may have trouble finding low-cost auto insurance.
According to statistics gathered by the FBI, the total number of stolen vehicles in Denver, Colorado was 5,275 in 2018. That number might seem high, but the good news is that theft rates in your city are on the decline.
The bad news is that if you don’t have any comprehensive insurance coverage, which tends to be a little pricey in Denver, you aren’t protected from auto theft.
Exactly how much more will comprehensive coverage cost you monthly in Denver, Colorado? Find out in the graph below.
As you can clearly see in the graph above, Denver, CO auto insurance companies will charge you more for comprehensive coverage. But many drivers still find the extra costs to be worth their while.
There are also ways you can lower your rates, even if you purchase an additional comprehensive policy. If you own a vehicle with anti-theft features, you can get some major discounts. You might also consider raising your deductible amount to lower your monthly payment totals.
Best Auto Insurance for Credit History Rates in Denver, Colorado
Your credit score determines many things, and what you pay for auto insurance is one of them. If you live in Denver, the better your credit score is, the lower your monthly insurance rate will be.
Take a look at the graph below to see just how much more auto insurance costs a Denver resident with poor credit per month versus someone with good credit.
Unfortunately, motorists with poor credit are charged significantly higher rates. But how come? According to Experian, there’s a correlation between your credit score and the chance of you filing claims.
Fortunately, bad credit does not have to last forever. By making your monthly auto insurance payment on time, you’ll slowly improve your credit.
If you can, try paying off any of your acquired debt that you are able to, and avoid taking on any extra credit. Over time, your credit score will increase and you’ll qualify for better Denver, Colorado auto insurance costs.
Does age affect my auto insurance rates in Denver, Colorado?
Are you trying to insure a young teenage driver in Denver? Well, it will likely be a difficult and expensive endeavor. Teenage drivers pay more for auto insurance than any other age group.
Let’s look at the average monthly rates based on age in the graph below.
As you can see, a 17-year-old Denver driver pays much more than a 34-year-old Denver driver. This is because accident statistics are highest amongst young and inexperienced teenage drivers. Luckily, there are a few ways you can lower those premiums.
Maintaining good grades can qualify young Denver drivers for a good student discount. Similarly, driver’s education courses can earn even further safe driver discounts.
Finally, you might also consider staying on your parents’ policy and paying them directly for the difference in costs.
Best Auto Insurance for Driving Record Rates in Denver, Colorado
Be aware of your driving record, as it will drastically impact your auto insurance rates. If you live in Denver, your driving record is recorded by the Comprehensive Loss Underwriting Exchange (C.L.U.E.).
This organization holds your insurance history as well as your number of accidents and convictions. This information is stored in a database and remains there for five to eight years.
If your record is flawless, you’ll receive the best rates. However, even minor traffic violations can cause your premiums to spike.
In the graph below, you can see exactly how different driving offenses will impact your rates as a Denver driver. Check it out.
As you can see, safe driving not only prevents major accidents, but it also saves you money on auto insurance.
These days, more providers are offering accident forgiveness programs for drivers with very minor violations on their records. However, there are limits to these discounts.
Most of them won’t apply to severe citations, such as a DUI or a reckless driving charge. Not only are such offenses expensive, but you may end up losing your coverage.
Your only option will be to purchase high-risk insurance, which will cost you substantially more than average.
Your Vehicle Make and Model and Your Denver, Colorado Auto Insurance Rates
Insurance providers will charge you different auto insurance rates based on the type of car you drive. So before you rush out to purchase a luxury vehicle for yourself, consider that it will also come with a huge insurance bill each month.
Usually, economy vehicles with great safety ratings that are affordable to repair or replace receive the lowest auto insurance rates.
See what we mean in the graph below, which compares monthly rates for a basic four-door car to a luxury vehicle.
Another reason why pricier cars tend to cost more to insure has to do with the level of coverage owners choose to purchase. After all, you wouldn’t insure a luxury vehicle with liability only, would you?
Some drivers, especially those with an older or less expensive vehicle, can get away with the bare minimum insurance coverage. However, expensive vehicles usually require fuller coverage policies to be better protected.
Don’t forget to mention any safety features and anti-theft features on your vehicle. Newer vehicles in particular often have a combination of both.
When you get a quote, an auto insurance agent will see the features that come with the car. You should be eligible for a vehicle discount to help lower your Denver, CO auto insurance rates.
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Minor Auto Insurance Factors in Denver, Colorado
We’ve discussed the major factors that influence your auto insurance rates, now let’s look at some minor demographics.
While things like your marital status or education level only minorly affect your premiums, there are still a few opportunities for savings that are worth looking into.
Your Marital Status and Your Denver, Colorado Auto Insurance Rates
If you live in Denver, Colorado, being a single driver versus a married one doesn’t net you any significant individual savings on your auto insurance. However, you have a few easy savings opportunities after you get married.
First, consider bundling your insurance with your spouse to seriously put a dent in your monthly bill. This will require one or both of you to switch to the same insurance provider.
Another benefit for married couples has to do with homeownership. If you and your spouse own a home, you have the opportunity to bundle your homeowner’s and auto insurance policies together for even greater discounts.
Your Gender and Your Denver, Colorado Auto Insurance Rates
Regardless of past misconceptions, the idea that one gender is safer behind the wheel than the other, and therefore deserves to pay less in premiums, is slowly fading away.
Many companies don’t charge different premiums at all if gender is the only factor in question. For those that do, it rarely makes more than a one to two percent difference.
The research shows only a small difference between what men and women pay for auto insurance in Denver, CO.
If you are concerned about paying more because of your gender, comparison shop until you find a provider who does not differentiate between male and female rates.
Your Commute Length and Your Denver, Colorado Auto Insurance Rates
If your commute is longer than average, it can cause your auto insurance rates to increase. The average commute to work for Denver motorists can last anywhere from 18 to 24 minutes on average.
About 70 percent of drivers choose to drive to work in their own car, while another three to 12 percent carpool. A total of 3 percent of commuters bike to work.
How much do you think you could save each year by limiting your driving? What if you only drive your vehicle to work or school? Well, you’ll probably save more on gas than you will on lower insurance premiums. However, if your car is registered for business use, prepare for a rate hike as high as ten percent or more.
Denver, CO, is a large metropolitan area. If your workplace is close to your home, try biking to work every once in a while. Biking will decrease the number of miles you put on your vehicle. If you qualify for a low-mileage discount, you’ll receive cheaper auto insurance rates from your provider.
Your Coverage and Deductibles and Your Denver, Colorado Auto Insurance Rates
Need more coverage but don’t have enough money to budget each month? Talk to your insurance agent about raising your deductible. Both collision and comprehensive insurance policies have deductibles associated with them.
Your deductible is the amount you will pay out of pocket for damages before your provider steps in.
Yes, you will have to pay more if you need to file a claim, but think about how much you can save long-term with a lower monthly payment. For some drivers on a budget, this is a very helpful technique.
Your Education Level and Your Denver, Colorado Auto Insurance Rates
Did you know that the more education you have, the more money you can save on your cheap full coverage auto insurance in Denver? It’ll give you a bigger discount than your profession, or your yearly salary.
Because the Denver area supports more than 15 different two and four-year institutions, it’s no surprise that so many drivers in the city have degrees in higher education.
The largest number of Denver motorists have earned a bachelor’s degree, while a lesser number are either still working on their high school diploma or have already graduated.
According to the Wall Street Journal, one of these Denver Universities, the Daniels School of Business, is ranked on the list of the top 10 business schools in the country. And for those who want to take an alternative approach to their education, there is the Colorado Free University with open enrollment options.
How We Conducted Our Auto Insurance Analysis in Denver, Colorado
We calculated our average auto insurance rates based on a married, 34-year-old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, and who owns his own home. We did this to find the cheapest full coverage in Colorado for 30-year-olds.
The miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
You are now an expert on securing affordable Denver, CO auto insurance rates. The fastest road to cheap auto insurance in Denver, CO, is comparing multiple companies.
For most Denver auto insurance companies, a simple internet search will reveal many of the trade secrets. But even with the correct information, it can still feel difficult for you as an individual to figure out your risk profile and find low-cost insurance.
Make sure you do your due diligence before you commit to your next auto insurance policy. Why stop there? If you’re ready to buy Denver, CO auto insurance, compare affordable Denver, CO auto insurance quotes right now.
Simply enter your Denver ZIP code into our FREE quote comparison tool below to find out which Denver, CO auto insurance company is right for you. You’ll find plenty of affordable auto insurance quotes in your area.