Cheap Auto Insurance for High-Risk Drivers in Colorado (Top 10 Companies for Savings in 2024)

The top picks for cheap auto insurance for high-risk drivers in Colorado are State Farm, Liberty Mutual and Progressive, with competitive pricing starting as low as $31/month.

High-risk auto insurance costs more than average, but these companies excel in catering specifically to high-risk policies and SR-22 insurance in Colorado.

Their commitment to serving high-risk drivers ensures you get the protection and peace of mind you deserve at a cost-effective price.

Our Top 10 Company Picks: Cheap Auto Insurance for High-Risk Drivers in Colorado

Find the best auto insurance rates no matter your driving record by entering your ZIP code above into our comparison tool today.

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#1 – State Farm: Top Overall Pick

Pros

• Thorough Protection: State Farm delivers extensive coverage options specifically designed for high-risk drivers in Colorado, ensuring comprehensive protection. Find out more in our State Farm review.
• Cheapest High-Risk Rates: State Farm is the cheapest high-risk auto insurance company in CO with minimum coverage starting at $31/month.
• Dedicated Claims Support: High-risk drivers in Colorado benefit from State Farm’s responsive claims department, which is known for addressing issues promptly and efficiently.

Cons

• Financial Downgrade: A.M. Best recently dropped State Farm’s financial rating to a B, which could negatively impact high-risk insurance claims in Colorado.
• Customer Service Variability: Local agents mean some high-risk drivers may have different customer service experiences based on where they live in Colorado.

#2 – Liberty Mutual: Best for Competitive Pricing

Pros

• Cost-Saving Opportunities: Liberty Mutual’s pricing is designed to be competitive, which can help high-risk drivers in Colorado manage their insurance expenses more effectively.
• Varied Discount Options: High-risk drivers in Colorado can take advantage of Liberty Mutual’s numerous discount opportunities, which can further reduce insurance costs.
• Personalized Coverage Plans: Liberty Mutual lets high-risk Colorado drivers customize their insurance, which you can learn about in our Liberty Mutual review.

Cons

• Possible Coverage Limitations: While the pricing is competitive, Liberty Mutual might have limitations in the breadth of coverage available for high-risk drivers in Colorado.
• Higher Rates for Severe Risk Profiles: High-risk drivers in Colorado with more severe risk factors may still face higher rates despite competitive pricing.

#3 – Progressive: Best for Broad Availability

Pros

• Extensive Network Reach: Progressive’s wide network means high-risk drivers in Colorado can access their services almost anywhere in the state.
• Adaptable Policy Features: High-risk drivers benefit from Progressive’s flexible policy features that can be adjusted to their specific needs in Colorado.
• Robust Discount Program: Progressive’s broad array of discounts can help high-risk drivers in Colorado save significantly on their premiums. For a complete list, read our Progressive review.

Cons

• Inconsistent Rate Fluctuations: Premiums for high-risk drivers in Colorado might vary widely depending on individual circumstances, potentially leading to unpredictability.
• Mixed Customer Service Reviews: The level of customer service for high-risk drivers in Colorado can be uneven, with some experiencing less satisfactory support.

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#4 – Geico: Best for Low Premiums

Pros

• Economical Rates: Geico is renowned for offering some of the lowest premiums to high-risk drivers in Colorado at $49/month. Read more in our review of Geico.
• Accessible Digital Tools: High-risk drivers in Colorado can manage their policies and access support easily through Geico’s user-friendly online and mobile tools.
• Various Discount Opportunities: Geico provides numerous discounts that can be particularly beneficial for high-risk drivers in Colorado looking to lower their insurance costs.

Cons

• Potential Coverage Gaps: Geico’s focus on low premiums might result in fewer coverage options for high-risk drivers in Colorado.
• Customer Service Variability: High-risk drivers in Colorado may experience inconsistencies in customer service, which can impact their overall satisfaction.

#5 – USAA: Best for Affordable Rates

Pros

• Competitive Pricing: USAA offers affordable rates of $50/month for high-risk drivers in Colorado who qualify.
• Customized Coverage Solutions: USAA provides tailored insurance plans to meet the unique needs of high-risk drivers in Colorado, which you can learn about in our USAA review.
• Highly Rated Customer Service: Known for its excellent service, USAA ensures high-risk drivers in Colorado receive top-notch support.

Cons

• Eligibility Constraints: Only available to military members and their families, which limits access for some high-risk drivers in Colorado.
• Limited Agents: High-risk drivers in Colorado may not have easy access to USAA agents or financial services in some regions.

#6 – American Family: Best for Customer Service

Pros

• Exceptional Service: American Family is praised for its attentive customer service, which is beneficial for high-risk drivers in Colorado needing extra support.
• Tailored Insurance Plans: High-risk drivers in Colorado can benefit from personalized insurance solutions that address their specific needs, which you can check out in our American Family review.
• Diverse Discount Options: American Family offers various discounts, helping high-risk drivers in Colorado reduce their overall insurance costs.

Cons

• Potentially Higher Premiums: Insurance costs for high-risk drivers in Colorado might be elevated compared to other providers.
• Coverage Availability: Some areas in Colorado may have limited availability of American Family’s insurance policies, affecting accessibility for high-risk drivers.

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#7 – Farmers: Best for Comprehensive Plans

Pros

• Wide-Ranging Coverage: Farmers provides a broad spectrum of coverage options, catering to the diverse needs of high-risk drivers in Colorado.
• Flexible Policy Customization: High-risk drivers in Colorado can adjust their insurance plans to match their specific requirements. Read our Ranchers vs. Farmers review to learn what else is offered.
• Established Industry Presence: Farmers’ long-standing presence in the insurance market ensures reliable coverage for high-risk drivers in Colorado.

Cons

• Higher Costs for Some High-Risk Profiles: Comprehensive plans might come with steeper premiums, especially for high-risk drivers in Colorado with significant risk factors.
• Complex Policy Structure: The extensive range of options can be complex for high-risk drivers in Colorado to navigate and select the best plan.

#8 – Allstate: Best for Extensive Resources

Pros

• Robust Resources: Allstate offers a wealth of resources, including educational tools and support services, specifically for high-risk drivers in Colorado.
• Enhanced Customer Assistance: High-risk drivers in Colorado benefit from Allstate’s dedicated support and educational resources aimed at helping them manage their insurance needs.
• Customizable Insurance Options: Allstate’s extensive range of policy options allows high-risk drivers in Colorado to tailor their coverage effectively, which you can read more about in our review of Allstate.

Cons

• Potential for Higher Premiums: Allstate’s comprehensive coverage might come with higher premiums for high-risk drivers in Colorado.
• Complexity in Policy Choices: The extensive resources and options might be overwhelming for high-risk drivers in Colorado trying to select the most suitable plan.

#9 – Travelers: Best for Flexible Options

Pros

• Adaptable Policies: Travelers offers flexible insurance plans that can be tailored to the specific needs of high-risk drivers in Colorado. Read our Travelers review for a full list.
• Competitive Insurance Rates: High-risk drivers in Colorado can benefit from competitive rates that are adjusted based on their risk profile.
• Multiple Discounts Available: Travelers provides a range of discount opportunities to help high-risk drivers in Colorado save on their insurance premiums.

Cons

• Rate Variability: Premiums for high-risk drivers in Colorado can fluctuate based on individual risk factors, leading to potential unpredictability.
• Customer Service Concerns: Some high-risk drivers in Colorado report mixed experiences with Travelers’ customer service, impacting overall satisfaction.

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#10 – Nationwide: Best for Good Discounts

Pros

• Attractive Discounts: Nationwide offers a variety of discounts that can significantly reduce insurance costs for high-risk drivers in Colorado.
• Customizable Coverage Plans: High-risk drivers in Colorado can tailor their insurance coverage to better suit their unique needs. Learn more in our Nationwide review.
• Strong Financial Standing: Nationwide’s financial stability ensures reliable and consistent coverage for high-risk drivers in Colorado.

Cons

• Potentially Higher Premiums Despite Discounts: Even with discounts, the overall premium costs for high-risk drivers in Colorado might still be relatively high.
• Limited Availability in Some Regions: Nationwide’s insurance offerings may not be available in all areas of Colorado, potentially limiting options for high-risk drivers.

Affordable Auto Insurance Rates for High-Risk Drivers in Colorado

Discover the best auto insurance rates for high-risk drivers in Colorado by comparing monthly quotes for both minimum and full coverage across the leading providers.

Colorado High-Risk Auto Insurance Monthly Rates by Coverage Level & Provider

For high-risk drivers in Colorado, State Farm offers the lowest rates: $31 for minimum coverage and $102 for full coverage. It also won’t increase your rates as much as other Colorado insurers after an accident or claim.

Liberty Mutual provides the most affordable full coverage at $114, while Nationwide has the highest full coverage rate at $252. Rates from other providers like Geico, Allstate, and Progressive vary widely, so it’s important to compare high-risk insurance quotes from multiple companies to find the best rates based on your driving record.

Read More: Does auto insurance cover vehicle theft?

Colorado’s High-Risk Drivers: Factors Behind Rising Auto Insurance Costs

Even at the best auto insurance companies for high-risk drivers, Colorado drivers with accidents or DUIs face higher insurance costs due to several factors. While a poor driving history with frequent accidents or violations raises premiums, a low credit score also increases your premiums, as it signals a higher risk to insurers.

The type of vehicle — such as high-performance or expensive cars — can lead to higher costs. Living in urban or high-theft areas contributes to increased premiums due to higher accident and theft risks. Finally, a record of frequent insurance claims can drive up costs, reflecting a higher likelihood of future claims.

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Tips for Reducing Auto Insurance Rates for High-Risk Drivers

Regularly reviewing your policy and exploring discount opportunities will ensure you’re always getting the best value. Take advantage of discount opportunities to maximize your savings and secure a policy that fits your needs.

Since there are factors that affect auto insurance rates, finding ways to reduce high-risk auto insurance premiums can make a big difference in your monthly budget. Here are five proven methods to help you save on Colorado auto insurance:

• Increase Your Deductible: Opting for a higher deductible can lower your monthly premiums. Just ensure you have enough savings to cover the deductible in case of a claim.
• Bundle Policies: Save money by bundling insurance policies from the same provider, such as home and auto insurance.
• Maintain a Clean Driving Record: Avoid further traffic violations and accidents to reduce high-risk auto insurance rates over time. You may also qualify for safe driver and claim-free discounts.
• Utilize Discounts: These may include discounts for having safety features in your vehicle, completing a defensive driving course, or maintaining a good credit score.
• Shop Around and Compare Quotes: Prices can vary significantly, so obtaining multiple quotes helps ensure you get the best high-risk insurance company in Colorado.

By implementing these strategies, you can effectively reduce your Colorado auto insurance premiums and keep more money in your pocket.

Top Auto Insurance Picks for High-Risk Drivers in Colorado

Discover cheap auto insurance for high-risk drivers in Colorado from State Farm, Liberty Mutual, and Progressive. Competitive rates at State Farm start at $31/month for minimum coverage. It also has the cheapest full coverage car insurance in Colorado for high-risk drivers.

Auto insurance rates by state will vary, with Colorado car insurance often being more expensive due to weather-related risks. If you’re a high-risk driver, this could mean increased insurance costs. Explore affordable coverage and discount opportunities from these leading insurers, while understanding key factors that drive up costs.

Implement strategies to reduce premiums and ensure you’re getting the best value for your insurance needs. If you’re just looking for coverage to drive legally, enter your ZIP code below to compare cheap auto insurance quotes near you.

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