Who Has The Best Car Insurance Rates in Denver?
Who Has The Best Car Insurance Rates in Denver?
Find Cheap Auto Insurance Quotes in Denver
Our analysis found that State Farm has the cheapest rates for minimum and full coverage in Denver, Colorado. State Farm's rates for minimum coverage average $50 per month, while its rates for full coverage average $92.
Denver has the largest population of all the cities in Colorado, which translates to higher auto insurance rates. Statewide, the average cost of minimum coverage car insurance is $72 per month, but the average cost in Denver is $91 — 26% higher.
Full coverage from Farmers, the most expensive insurer in Denver, costs $5,038 more per year than full coverage from State Farm. Huge price discrepancies like this show why it's so important to shop around to get a solid deal.
Cheapest auto insurance in Denver: State Farm
We identified State Farm, Geico and Progressive as the three cheapest insurers in Denver. Together, these three companies charged an average rate of $699 for minimum coverage. That saves drivers $398 each year, as the average cost of minimum coverage car insurance in Denver is $1,097 per year.
Eligible drivers should get insurance from USAA. At just $545 per year, the company — which only sells policies to current and former military members, as well as qualifying family members — charges rates that are half as expensive as the city average.
Compare Car Insurance Rates in Denver, Colorado
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $596 |
| 2 | Geico | $706 |
| 3 | Progressive | $794 |
| 4 | Allstate | $879 |
| 5 | Nationwide | $1,156 |
| 6 | Farmers | $1,209 |
| 7 | American Family | $2,896 |
| N/A* | USAA | $545 |
*USAA is only available to current and former military members and their families.
Many drivers choose minimum liability because it's the most affordable form of auto insurance. However, that affordability means forfeiting any protection of your own car. Minimum liability insurance in Colorado only helps you pay for the other driver's injuries and property damage; it doesn't help you pay for any injuries or damage you sustain.
Cheapest full coverage car insurance in Denver: State Farm
State Farm also has the cheapest rates for full coverage in Denver. Full coverage in the city costs $3,534 per year on average, but State Farm's rates are 69% cheaper, costing just $1,107 per year.
Geico and Nationwide also offer full coverage that is cheaper than the citywide average. Geico charges $2,748 per year (22% cheaper than average) and Nationwide charges $3,121 per year (12% cheaper than average).
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $1,107 |
| 2 | Geico | $2,748 |
| 3 | Nationwide | $3,121 |
| 4 | Allstate | $3,407 |
| 5 | Progressive | $4,339 |
| 6 | American Family | $5,669 |
| 7 | Farmers | $6,145 |
| N/A* | USAA | $1,740 |
*USAA is only available to current and former military members and their families.
Unlike minimum coverage, which only protects the other driver, full coverage includes collision and comprehensive coverages, which protect your own car.
- Comprehensive coverage: Covers off-road, noncollision incidents, such as animal or weather damage, theft or vandalism.
- Collision coverage: Covers repairs to your own car resulting from collisions into stationary objects or other cars, regardless of who was at fault.
Cheap car insurance for drivers with prior incidents
Insurers raise rates for drivers they perceive to be high-risk. A history of incidents on the road — such as at-fault accidents, speeding tickets or DUI citations — as well as a low credit score can cause them to view you as high-risk and increase your premiums.
To help drivers who fit this description, we've identified the cheapest insurance for drivers who have:
Cheapest car insurance in Denver after an accident: State Farm
Insurance rates for full coverage in Denver jump by 52% after an at-fault accident, from $3,534 on average to $5,362 on average. State Farm has the cheapest rates for these drivers, charging just $1,296 per year — an increase of just $189 annually. Geico and Nationwide, the next-cheapest insurers, raised rates by $2,292 and $2,053, respectively.
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $1,296 |
| 2 | Geico | $5,040 |
| 3 | Nationwide | $5,174 |
| 4 | Allstate | $5,431 |
| 5 | Progressive | $6,370 |
| 6 | American Family | $8,366 |
| 7 | Farmers | $8,726 |
| N/A* | USAA | $2,490 |
*USAA is only available to current and former military members and their families.
Cheapest car insurance for people with a speeding ticket: State Farm
Of all the incidents in this study, a speeding ticket costs drivers the least. Rates for full coverage increase by only 26% — far less than the 52% after an at-fault accident and 46% after a DUI citation.
State Farm also has the cheapest insurance for Denver drivers who have received a speeding ticket. The citywide average for these drivers is $4,440 per year, but an annual policy from State Farm is just $1,202 per year. That's less than a $100 increase from the rate the company charges before a speeding ticket.
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $1,202 |
| 2 | Geico | $3,479 |
| 3 | Allstate | $3,818 |
| 4 | Nationwide | $3,988 |
| 5 | Progressive | $5,292 |
| 6 | American Family | $6,913 |
| 7 | Farmers | $8,659 |
| N/A* | USAA | $2,173 |
*USAA is only available to current and former military members and their families.
Cheapest car insurance for drivers with a DUI: State Farm
The most affordable rates for Denver residents who have been caught driving under the influence (DUI) come from State Farm. In fact, State Farm charges drivers who have received a DUI citation and those who have received a speeding ticket the same rate: $1,202 per year for full coverage. That makes State Farm's rates 77% cheaper than the city average for drivers with a DUI, which is $5,156 annually.
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $1,202 |
| 2 | Allstate | $4,665 |
| 3 | Progressive | $4,687 |
| 4 | Geico | $5,004 |
| 5 | Nationwide | $6,674 |
| 6 | American Family | $6,913 |
| 7 | Farmers | $8,400 |
| N/A* | USAA | $3,705 |
*USAA is only available to current and former military members and their families.
Cheapest car insurance for drivers with poor credit: Geico
Geico has the cheapest rates for drivers who have a low credit score, followed by State Farm and Nationwide. Rates for these drivers average $3,949 per year for full coverage, but rates from these three companies are, respectively, $1,248, $1,191 and $393 cheaper.
Rates vary significantly by credit score in Denver. We found that drivers with very good credit pay $2,173, while those with average credit pay $2,662 — 45% and 33% less than drivers with poor credit.
Rank | Company | Annual rate |
|---|---|---|
| 1 | Geico | $2,701 |
| 2 | State Farm | $2,758 |
| 3 | Nationwide | $3,556 |
| 4 | Allstate | $3,639 |
| 5 | American Family | $5,067 |
| 6 | Farmers | $5,514 |
| 7 | Progressive | $5,676 |
| N/A* | USAA | $2,682 |
*USAA is only available to current and former military members and their families.
Cheapest car insurance for young drivers: State Farm
Rates for our sample 18-year-old Denver driver were 178% higher than rates for our sample adult driver. This steep increase is not unique to Denver, however; young drivers generally pay more than adult drivers do.
The cheapest rates for young drivers in Denver come from State Farm, followed by Geico and Allstate. The average cost of full coverage auto insurance for a teen driver in Denver is $9,809, but our analysis found that these three companies charge rates that are 67%, 24% and 10% less expensive than this average, respectively.
Rank | Company | Annual rate |
|---|---|---|
| 1 | State Farm | $3,283 |
| 2 | Geico | $7,480 |
| 3 | Allstate | $8,837 |
| 4 | Nationwide | $12,651 |
| 5 | American Family | $13,154 |
| 6 | Farmers | $13,220 |
| 7 | Progressive | $15,866 |
| N/A* | USAA | $3,980 |
*USAA is only available to current and former military members and their families.
Try to stay on your parents' auto insurance policy if you're a teen driver. It's the best way to keep your rates affordable.
Other strategies for keeping your auto insurance rates low include taking a defensive driving course and maintaining good grades to score a good student discount.
Best auto insurance companies in Denver, Colorado
ValuePenguin surveyed policyholders at some of the largest national insurers. Of the companies featured in this study, USAA, American Family and Nationwide had the highest percentage of customers who reported being "extremely satisfied" with their most recent claim.
To learn more about customer service at the insurers included in this study, check out our analysis of the best auto insurance in Colorado.
Average car insurance cost in Denver, by neighborhood
Auto insurance rates can vary not just by city, but by ZIP code as well. Certain ZIP codes experience higher traffic or crime rates, which can cause insurers to increase premiums to account for risk.
Our analysis identified 80229 as the cheapest ZIP code for drivers with full coverage and 80219 as the most expensive ZIP code for drivers with full coverage.
ZIP code | Average rate - Full coverage | Average rate - Minimum coverage |
|---|---|---|
| 80014 | $3,640 | $1,162 |
| 80110 | $3,429 | $1,055 |
| 80123 | $3,248 | $967 |
| 80202 | $3,444 | $1,062 |
| 80203 | $3,518 | $1,105 |
| 80204 | $3,617 | $1,095 |
| 80205 | $3,481 | $1,076 |
| 80206 | $3,631 | $1,177 |
| 80207 | $3,645 | $1,153 |
| 80208 | $3,558 | $1,142 |
| 80209 | $3,499 | $1,153 |
| 80210 | $3,508 | $1,143 |
Auto theft statistics in Denver
Denver is not only the most populous city in Colorado, but it also experiences the highest rate of auto theft. Our analysis of 2019 FBI crime data found that about 7 cars are stolen for every 1,000 residents.
Rank | City | Population | Car thefts | Thefts per 1,000 residents |
|---|---|---|---|---|
| 1 | Denver | 728,941 | 5,294 | 7.26 |
| 2 | Colorado Springs | 479,648 | 3,092 | 6.45 |
| 3 | Aurora | 380,600 | 2,294 | 6.03 |
| 4 | Pueblo3 | 112,381 | 699 | 6.22 |
| 5 | Westminster | 114,392 | 634 | 5.54 |
| 6 | Thornton | 142,168 | 631 | 4.44 |
| 7 | Arvada | 122,312 | 375 | 3.07 |
| 8 | Greeley | 109,255 | 306 | 2.80 |
| 9 | Boulder | 108,519 | 251 | 2.31 |
| 10 | Fort Collins | 170,889 | 228 | 1.33 |
Motor vehicle theft data was pulled from the FBI 2019 Colorado crime report.
Methodology
We collected quotes from eight of the largest insurers in Colorado. Unless otherwise noted, our sample driver was a 30-year-old man who drove a 2015 Honda Civic EX and had a full coverage policy. We gave him the following limits on his full coverage policy:
Coverage type | Study limits |
|---|---|
| Bodily injury liability | $50,000 per person/$100,000 per accident |
| Personal injury protection | $10,000 |
| Property damage liability | $25,000 per accident |
| Uninsured/underinsured motorist bodily injury | $50,000 per person/$100,000 per accident |
| Comprehensive and collision | $500 deductible |
This ValuePenguin study used insurance rate data from Quadrant Information Services. Rates were publicly sourced from insurer filings. They should be used for comparative purposes only, as your own quotes may differ.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.