When it comes to finding the cheapest car insurance in Colorado, there are several key takeaways to keep in mind. According to recent research conducted by the MarketWatch Guides team, Geico, Southern Farm Bureau, USAA, State Farm, and Nationwide are the top contenders for the most affordable car insurance for most drivers in the state. The average cost of car insurance in Colorado is $2,173 per year or $181 per month for a full-coverage policy, based on data from Quadrant Information Services.
State minimum coverage in Colorado is even more affordable, with an average cost of $566 per year or $47 per month. This is 9% lower than the national average of $627 per year. It’s important to note that car insurance rates can vary based on factors such as age, driving history, and credit score. Therefore, the cheapest rates for you will depend on your individual circumstances.
Geico stands out as the provider offering the cheapest full coverage insurance in Colorado, with an average annual cost of $1,306. On the other hand, Southern Farm Bureau offers the most affordable minimum liability coverage at an average of $275 per year. When it comes to large insurance companies, Geico, State Farm, Nationwide, Progressive, and Allstate are among the top contenders for the cheapest rates in Colorado.
For young drivers in Colorado, rates tend to be higher due to less driving experience. However, Southern Farm Bureau consistently offers the most affordable rates for drivers aged 16 to 25. Additionally, for seniors in Colorado, Geico provides the cheapest car insurance with an average annual rate of $1,205 for a full-coverage policy.
It’s important to note that driving without car insurance in Colorado is illegal and can result in fines, community service, jail time, and points on your license. To register your vehicle in Colorado, you’ll need proof of insurance, among other documents. Additionally, the state requires emissions inspections for vehicles changing ownership or renewing registration.
In conclusion, when looking for cheap car insurance in Colorado, it’s essential to compare quotes from multiple providers, consider available discounts, and understand the state’s insurance requirements. By doing so, you can find the most affordable coverage that meets your needs.