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Best cheap car insurance in Denver for 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best car insurance companies in Denver
Our insurance team, which includes licensed property and casualty agents, compared average rates, coverage options, discounts, digital tools and third-party ratings for dozens of carriers writing auto policies in Denver. We compile this data into our Bankrate Score, which evaluates each carrier on a 5-point scoring system. This score aims to help drivers find the best car insurance policy for their own needs based on their priorities. Some key third-party metrics we looked at include the 2023 J.D. Power Auto Insurance Study and financial strength ratings from AM Best.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: Although Geico doesn't have as many endorsements as some other competitors, it does advertise emergency roadside service, rental car reimbursement and mechanical breakdown insurance. Plus, its robust digital tools may appeal to drivers who prefer to manage their auto insurance virtually. However, Geico scored below the segment average for customer satisfaction in the Southwest region of J.D. Power's study, which suggests that customers aren’t satisfied with Geico’s service.
Why Geico may be the best for discounts: In addition to offering some of the lowest average rates in Denver, drivers on a budget may save with Geico's long list of potential discounts. Savings opportunities may be available for military service, bundling, enrolling in the DriveEasy telematics program and more. Discounts that make Geico stand out are its affiliation savings. Drivers who are members of certain professional organizations, alumni and clubs may qualify for affiliation discounts that other carriers don’t offer.
| Bankrate Score | 4.4 |
| J.D. Power | 804/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Progressive made our list: Progressive offers nationwide coverage and boasts an A+ (Superior) rating from AM Best for financial stability. Denver drivers can find a plethora of discounts through options like the Name Your Price tool and Snapshot, its telematics program. Progressive also has various insurance products for drivers needing home, motorcycle or RV coverage. If you have a couple dings on your driving record, Progressive may interest you as it is our 2024 Bankrate Award winner for Best for High-Risk Drivers.
Why Progressive may be the best for digital tools: Progressive's website and mobile app make it a standout option for drivers who prefer to handle their insurance policy themselves instead of working directly with an agent. The Progressive app is easy to navigate and allows drivers to make policy changes, make payments, call for roadside assistance and file claims. The carrier even offers live agents via chat on its website and chat assistance Progressive Facebook Chatbot and Google Assistant Flo Chat.
| Bankrate Score | 4.4 |
| J.D. Power | 809/1,000 |
| AM Best score | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Auto-Owners made our list: Denver drivers can work with local Auto-Owners agents to find coverage that fits their needs. This carrier offers several discounts and has lower-than-average customer complaints registered with the NAIC complaint index. The carrier does come in below average in the Southwest region of J.D. Power's Auto Insurance Study, so you may want to speak with existing policyholders about their experience.
Why Auto-Owners may be the best for customizable coverage options: Drivers looking for ways to customize their auto insurance may be happy with Auto-Owner’s wide selection of policy endorsements. Auto-Owners has standard coverage types and enhanced options such as loan/lease coverage and diminished value coverage. Drivers who also insure their home with Auto-Owners may also be able to take advantage of its common loss deductible, where policyholders only need to pay for one deductible if their auto and home are damaged in the same covered claim.
| Bankrate Score | 4.3 |
| J.D. Power | 808/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why State Farm made our list: While it is not the cheapest insurance company in Colorado, State Farm may be the best car insurance company for Denver drivers looking for a bit of everything. State Farm offers a fairly standard list of discounts and endorsements, including two telematics programs and potential add-ons like emergency roadside assistance and ridesharing coverage.
Why State Farm may be the best for local agents: Not only does State Farm offer robust digital tools, but it also has several local agents throughout Denver. Since State Farm sells, services and handles all its claims, working with a local agent may be very beneficial during the claims process.
| Bankrate Score | 4.3 |
| J.D. Power | 835/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why USAA made our list: If you’re a military member stationed at the Buckley Air Force Base, USAA may be the best cheap car insurance company for you. The carrier offers potential discounts for garaging a vehicle on base and savings if your parents are insured with USAA. Although USAA is not technically eligible for ranking with J.D. Power, it did earn the highest customer satisfaction score in the Southwest region. USAA does not have local agents available for in-person service, so it may not appeal to drivers who prefer working face-to-face with an agent.
Why USAA may be the best for military-focused coverage: USAA only writes policies for active-duty military members, veterans and their eligible families and offers coverage options and discounts tailored specifically to military members' needs. This is why they may be the best choice for Denver drivers with military-focused needs.
| Bankrate Score | 4.2 |
| J.D. Power | 879/1,000 |
| AM Best score | A++ |
Bankrate's trusted insurance industry expertise
Read our full methodologyThe insurance landscape is ever-evolving, and Denver is no exception. Denver drivers may pay more for coverage due to traffic congestion, winter weather and higher crime rates in parts of the city. Bankrate’s insurance editorial team, composed of licensed agents with hands-on industry expertise, is here to assist you. Our mission is to empower you with insights from credible sources, enabling you to make informed financial choices tailored to your insurance requirements.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Denver
When searching for the cheapest car insurance, it is important to find affordable rates paired with adequate coverage. It can be tempting to go with liability-only insurance, but that might not be the best option if your car still has significant value. Below are the five companies that average the cheapest rate for minimum car insurance in Denver.
| Insurance company | Average annual min coverage premium | Average annual full coverage premium |
|---|---|---|
|
American National
|
$266
|
$1,353
|
|
$323
|
$1,664
|
|
|
$424
|
$1,843
|
|
|
$726
|
$2,383
|
|
|
$395
|
$2,569
|
How much is car insurance in Denver, Colorado?
It isn’t surprising that many Denver drivers are on the lookout for cheaper auto insurance. With Denver being one of the most populated cities in America, the heightened risk of car accidents and vehicle thefts contributes to average full coverage rates 6 percent more than the Colorado average. The average cost of car insurance in Denver is $3,132 per year for full coverage and $642 per year for minimum coverage.
Denver rates for teens
Teen drivers usually pay high rates for car insurance as they are considered high risk. Teen driving statistics show that their lack of driving experience and tendency toward distracted driving leads to more frequent and more severe accidents. One way for teen drivers to potentially save money is by staying insured on a family auto policy for as long as possible. Most carriers will allow teen drivers to remain on their parents' policies as long as they live in the same household.
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
$772
|
$658
|
|
|
American National
|
$913
|
$399
|
|
$1,191
|
$805
|
|
|
Acuity
|
$1,371
|
$1,359
|
|
$1,819
|
$1,627
|
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
American National
|
$3,185
|
$1,751
|
|
$3,674
|
$3,105
|
|
|
$4,256
|
$3,223
|
|
|
$5,647
|
$5,374
|
|
|
$6,136
|
$5,360
|
Denver rates for young drivers
Young drivers usually pay less for car insurance than teen drivers, but still more than drivers over the age of 25. Once adult children move out of the family home, they need to purchase a car insurance policy under their own name. This may be the first time their insurance premiums reflect the true cost of being a young driver. If you're shocked at the quotes you receive for your own policy, keep in mind that you may be able to save by shopping around, maintaining a good driving record and taking advantage of discounts.
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
American National
|
$594
|
$304
|
|
$945
|
$573
|
|
|
$974
|
$372
|
|
|
$1,041
|
$321
|
|
|
$1,669
|
$918
|
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
American National
|
$2,560
|
$1,579
|
|
$3,876
|
$2,485
|
|
|
$4,138
|
$1,819
|
|
|
$5,435
|
$3,412
|
|
|
$6,098
|
$3,760
|
Denver rates for adults
Once drivers are no longer considered youthful operators, they usually become part of the standard rating pool of drivers. This can depend on their overall driving history — drivers without accidents or moving violations may be considered preferred drivers, whereas drivers with an active history may be moved into the high-risk driving pool. In general, age becomes less critical and other rating factors have a more substantial impact on your insurance rates.
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
American National
|
$280
|
$266
|
$249
|
|
$308
|
$395
|
$389
|
|
|
$327
|
$323
|
$324
|
|
|
$471
|
$424
|
$418
|
|
|
$661
|
$596
|
$542
|
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
American National
|
$1,517
|
$1,353
|
$1,289
|
|
$1,679
|
$1,664
|
$1,585
|
|
|
$2,057
|
$1,843
|
$1,734
|
|
|
$2,378
|
$2,569
|
$2,388
|
|
|
$2,450
|
$2,383
|
$2,242
|
Denver rates for senior drivers
While the median age of Denver drivers is 37, 19.8 percent of drivers in Denver are considered senior citizens. Car insurance rates for seniors can start to increase due to the higher risk of age-related impairments impacting driving ability. However, many seniors can find ways to lower their rates by maintaining a good driving record, looking for low mileage discounts and by completing a senior defensive driving course.
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
American National
|
$241
|
$324
|
|
$324
|
$475
|
|
|
$357
|
$393
|
|
|
$416
|
$494
|
|
|
$527
|
$621
|
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
American National
|
$241
|
$1,284
|
|
$324
|
$1,881
|
|
|
$416
|
$1,836
|
|
|
$644
|
$2,617
|
|
|
$357
|
$2,533
|
The cheapest car insurance in Denver by driving record
Policyholders with clean driving records tend to see some of the most favorable car insurance rates. While avoiding tickets and accidents is everyone's ultimate goal, life happens, and you may need to shop around to find cheaper coverage if your current carrier has surcharged your rate due to an incident.
Car insurance with a speeding ticket in Denver
Receiving a speeding ticket in Colorado generally affects your auto insurance rates for three to five years in addition to fines that can range between $30 and $300. On average, Denver drivers pay $803 per year for full coverage car insurance after a speeding ticket, — 23 percent more than the city average without one.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
American National
|
$322
|
$1,527
|
|
$370
|
$2,014
|
|
|
$533
|
$2,302
|
|
|
$662
|
$3,897
|
|
|
$768
|
$4,892
|
Car insurance after an accident in Denver
Even with the best intentions, car accidents can happen. When a driver is found at fault for an accident, they can experience high insurance rates for several years, unless they have accident forgiveness coverage on their policy. The Denver area is densely populated, and the risk of an accident is usually much higher in the city than in more rural areas. Denver drivers pay an average of $4,567 per year for full coverage insurance after an at-fault accident.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
American National
|
$322
|
$1,527
|
|
$476
|
$2,668
|
|
|
$669
|
$2,718
|
|
|
$758
|
$4,349
|
|
|
$1,047
|
$5,833
|
Car insurance after a DUI in Denver
Impaired driving in Colorado can fall into three different categories: driving under the influence (DUI), driving while intoxicated (DWI) and driving while ability impaired (DWAI). Any of these offenses are a red flag to auto insurance companies and can cause your premiums to increase drastically. Along with higher rates, drivers with DUI offenses may need to find an insurance company to file an SR-22 on their behalf to maintain driving privileges. The average rate for full coverage car insurance after a DUI conviction in Denver is $5,380.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
American National
|
$434
|
$1,873
|
|
$680
|
$3,144
|
|
|
$690
|
$4,516
|
|
|
$955
|
$5,072
|
|
|
$1,002
|
$4,211
|
Minimum coverage requirements in Denver
According to Colorado car insurance laws, all vehicles must maintain a minimum level of coverage to be street-legal. The minimum car insurance requirements for Denver drivers and all drivers living in Colorado are as follows:
- $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
To avoid being underinsured, most insurance experts recommend carrying liability limits that exceed the state minimum for better financial protection. The prevalence of theft, vandalism and hail damage in the Denver area may also make it worthwhile to add comprehensive coverage to your auto insurance policy.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze July 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following 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 state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Scores
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
