Car Insurance For College Students In Colorado 2024
I consider GEICO the leading car insurance provider for college students in Colorado.
We’ve saved shoppers an average of $600 per year on their car insurance.
After thoroughly comparing quotes from various insurance brands over the course of 40 hours, my research found that GEICO offers the best car insurance for college students in Colorado, with both affordable rates and excellent full coverage.
Colorado college students looking for minimum coverage or exceptional customer service will find State Farm to be a strong option. Progressive, however, was the top pick for drivers with a history of accidents and violations.
The guide will take a closer look at auto insurance companies, explaining how criteria like location and age can impact the insurance rates of college students in Colorado.
Best Car Insurance For College Students In Colorado, 2024
Compare The Best Car Insurance For College Students In Colorado
| Overall Rating | Best For | JD Power Rating | AM Best Rating | Get A Quote | |
|---|---|---|---|---|---|
| GEICO |
|
Affordable Coverage |
824 |
A++ |
Instant Quote |
| Progressive |
|
Driving Violations |
853 |
A+ |
Instant Quote |
| GEICO |
|
Full Coverage |
824 |
A++ |
Instant Quote |
| State Farm |
|
Minimum Coverage |
842 |
A++ |
Instant Quote |
| Auto-Owners |
|
Customer Service |
837 |
A++ |
Instant Quote |
| State Farm |
|
Low-Mileage Drivers |
842 |
A++ |
Instant Quote |
Best Car Insurance Companies For College Students In Colorado
Best For Low-Mileage Drivers
Key Statistics
Why We Like Them
⇅Significant reductions in car insurance costs for college students can be achieved through low-mileage policies and discounts. State Farm offers the most affordable rates, with annual premiums usually around $2,658.
State Farm’s excellence in customer service and financial stability makes it a reliable option for college students who are looking for their first auto insurance policy.
Benefits & Drawbacks
⇅- Provides a generous discount for drivers with low mileage through a usage-based program.
- Known for excellent customer service.
- High renewal and retention rates among policyholders.
- Holds strong financial ratings from independent agencies such as AM Best. ✓
- Lacks rideshare and gap insurance coverage options.
- May be more expensive for drivers with poor credit. ✘
Info on the category and how it impacts drivers
⇅If you’re a college student and don’t plan on driving much, there’s no need to pay for more insurance than required. The state minimum coverage is still necessary, but there are discounts and affordable policies available that fit your low-mileage situation.
Low-mileage policies often include discounted rates for drivers who stay below a specified annual mileage. The mileage limit varies by insurance company but is generally between 7,500 and 10,000 miles per year.
Best Affordable Coverage
Key Statistics
Why We Like Them
⇅Affordability is typically a top concern for college students buying their first auto insurance. GEICO provides young drivers with coverage that costs roughly $1,453 per year, along with the reliability of a well-known company.
Over the past several decades, GEICO has established itself as a top auto insurance provider, offering industry-leading rates and excellent customer service. The company has also expanded its digital presence with a mobile app and website designed for easy account management.
Benefits & Drawbacks
⇅- Best-in-class rates for college students
- Offers discounts tailored to students
- Convenient mobile app and website for managing policies
- Customer satisfaction scores are higher than average ✓
- Limited local agent availability
- No coverage for gap and rideshare insurance ✘
Best Minimum Coverage
Key Statistics
Why We Like Them
⇅College students looking for minimum coverage should choose an insurer with a reputation for excellent policyholder support. State Farm offers personalized service and some of the lowest rates available for young drivers.
State Farm’s quick claims process and personalized customer service help resolve issues efficiently. Colorado college students can expect to pay approximately $2,212 for a minimum coverage policy through State Farm.
Benefits & Drawbacks
⇅- Premier customer service team
- Competitive pricing for a wide range of college students
- High rate of renewals for policies
- Personalized policy management with an extensive local presence ✓
- Policies are less customizable compared to other leading insurers
- Gap insurance coverage is not available ✘
Info on the category and how it impacts drivers
⇅Opting for minimum coverage can reduce your overall insurance costs but may leave you at risk if you’re in an accident. These low-cost policies cover only the minimum insurance required by law, meaning any additional expenses would come out of your pocket.
College students benefit from minimum coverage policies as they provide the required insurance to drive legally and keep overall costs low.
Best Full Coverage
Key Statistics
Why We Like Them
⇅Given that full coverage insurance is more expensive than minimum coverage, picking a company like GEICO with affordable rates is crucial. Colorado college students generally spend around $2,602 annually for full coverage with GEICO.
GEICO isn’t just about providing affordable coverage; it also excels in innovation. Their website is designed for ease of use, allowing policyholders to change their account information quickly.
Benefits & Drawbacks
⇅- Accident forgiveness included in policies
- Usage-based program provides discount options
- Affordable full coverage rates for college students
- Customer satisfaction scores are above average ✓
- No options for new car replacement or rideshare insurance add-ons
- Bundle discount rates are lower than some competitors
- Limited availability of local agents ✘
Info on the category and how it impacts drivers
⇅Students who frequently drive to campus or use their vehicle for work should look into full coverage insurance as opposed to minimum coverage. Full coverage provides extra protection, including liability, comprehensive, and collision.
Full coverage insurance offers more protection, but it is more expensive. It’s important to weigh the value of the extra coverage against the additional monthly costs.
Best Customer Service
Key Statistics
Why We Like Them
⇅If you’re a college student with questions about auto insurance, it’s common to seek help. Many insurers offer interactive apps and websites, but Auto-Owners Insurance also connects you with a live person. This personal assistance can make the slightly higher premium worthwhile.
The company not only excels in customer service but also provides various discounts to further reduce expenses. College students can anticipate paying around $4,329 annually for their coverage.
Benefits & Drawbacks
⇅- Focuses on relationships with local, live agents
- Offers flexible coverage with a range of discounts
- Includes accident forgiveness and lowering deductibles
- Renowned for its great customer service ✓
- Only offered in 26 states
- Quotes need to be requested from agents
- No online management for policies ✘
Info on the category and how it impacts drivers
⇅The notion that excellent customer service always comes with a higher cost isn’t always correct. In Colorado, both Auto-Owners Insurance and State Farm achieve high customer satisfaction scores and offer budget-friendly plans for college students.
Best For Motorists With Driving Violations
Key Statistics
Why We Like Them
⇅Although Progressive Insurance wasn’t the cheapest for standard coverage, it was the top pick for Colorado college students with driving violations. Whether due to a speeding ticket or an accident, Progressive still provided affordable coverage.
College students with driving violations generally pay around $4,697 a year for auto insurance coverage.
Progressive’s additional coverage options include rideshare coverage, which benefits college students who drive part-time for DoorDash or Lyft.
Benefits & Drawbacks
⇅- Covers vet bills for your pet if injured in an accident and you have collision coverage
- Rideshare coverage available as an add-on
- Competitive pricing for motorists with driving violations ✓
- Below-average ratings for customer loyalty
- Customer service is rated average ✘
Info on the category and how it impacts drivers
⇅Monthly insurance costs can rise considerably after a traffic violation, regardless of the driver’s age. College students, with their high-risk status, might experience an even bigger rate increase after an accident or ticket.
One effective way to mitigate the impact of a driving violation is to work with a company like Progressive, known for insuring drivers who have a history of tickets or accidents.
Average Car Insurance Rates For College Students In Colorado – By City
| City | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| Denver | $2,904 | $242 |
| Colorado Springs | $2,880 | $240 |
| Aurora | $3,000 | $250 |
| Fort Collins | $2,304 | $192 |
| Boulder | $2,472 | $206 |
Average Rates For 18 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| GEICO | $334 |
| State Farm | $275 |
| Nationwide | $399 |
| Auto-Owners | $282 |
| Progressive | $585 |
Average Rates For 19 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| Allstate | $206 |
| State Farm | $242 |
| GEICO | $186 |
| Auto-Owners | $248 |
| Progressive | $273 |
Average Rates For 20 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| State Farm | $214 |
| GEICO | $166 |
| Progressive | $246 |
| Allstate | $184 |
| Auto-Owners | $216 |
Car Insurance Rates For 21 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| GEICO | $121 |
| State Farm | $184 |
| Auto-Owners | $191 |
| Allstate | $157 |
| Progressive | $195 |
Average Rates For 22 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| State Farm | $168 |
| GEICO | $110 |
| Progressive | $179 |
| Nationwide | $181 |
| Allstate | $144 |
Insurance Rates For 23 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| GEICO | $89 |
| Kemper | $202 |
| Progressive | $167 |
| State Farm | $150 |
| Allstate | $140 |
Rates For 24 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| State Farm | $138 |
| Farmers | $139 |
| Auto-Owners | $142 |
| Progressive | $155 |
| Allstate | $135 |
Car Insurance Rates For 25 Year Old College Students In Colorado
| Car Insurance Provider | Average Monthly Cost |
| State Farm | $81 |
| Progressive | $136 |
| Auto-Owners | $130 |
| Farmers | $149 |
| Allstate | $131 |
Cheap Rates For College Student On Family Policy vs. Individual Policy
| Insurance Company | Individual Student Policy | Family Policy |
| State Farm | $168 | $155 |
| GEICO | $110 | $110 |
| Progressive | $179 | $178 |
| Nationwide | $181 | $181 |
| Allstate | $144 | $144 |
How Can College Students Save Money On Car Insurance In Colorado
For most college students, car insurance premiums are much more expensive than those for drivers in their mid to late 20s. If you can’t remain on a parent or guardian’s policy, you’ll need to find ways to decrease your monthly premium.
Here are some helpful tips and strategies for cutting down on car insurance expenses.
Affiliation Discounts
Being active in campus clubs and organizations is a great way for students to enhance their college experience. These groups can also provide additional benefits, including access to discounts. Depending on your auto insurance provider, belonging to a sorority, fraternity, honor society, or alumni association might result in a lower monthly premium.
Used vs. New
Parents often gift new cars to their children upon graduation. Though these vehicles might provide improved gas savings, they typically lead to higher insurance costs. This is because new cars are more expensive to repair or replace, prompting insurers to increase rates.
Student Discounts
Many are aware of student discounts tied to academic success, but college students can qualify for various additional discounts, including:
- Safe driving record discount
- Discount for college students studying at a distance
- Discount for completing driver’s ed
Security And Safety Improvements
Though some strategies are aimed at college students, this tip is useful for any driver. By installing security features or upgrading your vehicle’s safety, you may be eligible for a lower insurance premium.
Installing anti-theft measures, such as a car alarm, might reduce your car insurance policy by up to 5%.
Do College Students Need Their Own Insurance, or Can They Stay On A Parent’s?
Though insurance generally provides clear guidance, whether you’ll require your own policy as a college student depends on multiple factors. We’ll look at when you could stay on your family’s plan and when you’d need to get your own coverage.
Purchasing Coverage As A College Student
The main circumstance requiring a college student to buy their own insurance is an address change. Once they have a permanent address different from their parents’, they need to obtain a new car insurance policy.
Keeping Students On A Family Car Insurance Policy
Unlike health insurance, which has a defined age limit, there’s no such restriction for car insurance. Children who live at home or use their parents’ address while at college can stay on the family’s auto insurance policy.
Common Auto Insurance Claims In Colorado
The 4 typical types of auto insurance claims in Colorado are generally:
- Comprehensive Claims (2.81 claims for every 100 vehicle years)
- Collision Claims (5.8 claims for every 100 vehicle years)
- Property Damage Claims (3.36 claims for every 100 vehicle years)
- Bodily Injury Claims (0.95 claims for every 100 vehicle years)
Temporary Car Insurance
Although some car insurance providers don’t offer temporary coverage, it’s a good option for college students who won’t be driving often.
Typically, temporary auto insurance offers six months of coverage, with the ability to cancel once the term ends. This is ideal for college students who don’t need insurance while at school and for those planning to study abroad for a semester.
How To Buy Car Insurance As A College Student In Colorado
Purchasing your first auto insurance policy as a college student can be overwhelming. Thankfully, platforms like Insuranceopedia simplify the process and make it a more enjoyable experience.
Though these sites simplify the process of comparing rates from various insurance companies, having relevant information on hand is necessary. Here’s a step-by-step guide to help you purchase your next auto insurance policy:
Step 1: Make sure to have all important information ready, such as your vehicle info, license numbers, policyholder details, and driving history.
Step 2: Identify how much insurance coverage is required to comply with Colorado law.
Step 3: Choose whether to purchase online or through a local agent.
Step 4: Get quotes from at least three different insurance companies for comparison.
Step 5: Complete the purchase of your new policy and let your old insurance company know about the switch.
Telematics Car Insurance For College Students
College students need to get creative with car insurance savings, and telematics is one of the most efficient ways to reduce your monthly premium.
Telematics devices are employed by insurance companies to monitor your driving behavior. Safer driving results in better rates and increases your likelihood of receiving safe driver discounts.
How To Get Discounts
College students often find car insurance costly, especially if they have tickets or accidents on their record. One way to reduce the cost of coverage is by taking advantage of discounts offered by your carrier.
Insurance companies offer various discounts to policyholders. Before choosing a plan, explore these potential discounts:
- Paid in full
- Multi-vehicle
- Multi-policy
- Military
- Student away
- Good student
- Safe driver
- Defensive driving
- Low mileage
- Accident-free
Try Usage-Based Car Insurance
Similar to telematics, usage-based car insurance monitors a driver’s actions on the road, but it also offers an added component that’s especially appealing to college students.
With usage-based car insurance, driving less each year can result in discounts and reduced premiums. These “Pay-Per-Mile” plans are a cost-effective way to get affordable coverage if your vehicle stays in the dorm lot or at home for the majority of the school year.
Our Methodology
We analyzed information from numerous car insurance review sites to identify the most affordable rates for college students in Colorado, with some sites using public rate filings from Quadrant Information Services. Additionally, our team applied its combined 25 years of insurance experience to evaluate each provider. It’s important to keep in mind that, even though the rates in this guide are accurate, premiums can fluctuate daily and vary for each individual driver.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
FAQs
Who has the best car insurance for college students in Colorado?
GEICO is known for offering the most affordable car insurance for college students. Nonetheless, depending on your driving history and desired coverage, it’s also wise to consider Progressive and State Farm in Colorado.
Do college students need car insurance in Colorado?
In Colorado, car insurance is required for all drivers. College students can either remain on their parents’ policy while living at home or purchase their own insurance when they move.
Is car insurance more expensive for college students in Colorado?
Car insurance rates are usually higher for younger drivers in Colorado. While college students often receive better rates than 16-year-olds, their premiums are still notably higher than those for 25-year-olds.
How can you add a college student to a family policy?
Before you add a college student to your family insurance plan, consult with your insurance provider before the student starts their college term. Most insurers will need the student’s updated zip code and to verify that their primary address is still the family home. Additional requirements may apply for students who are attending school out-of-state.
Can you stay on your parents’ car insurance if you move out?
As a college student, you can benefit from staying on your parents’ car insurance as long as you live with them. However, once you move out and have a new permanent address, you will need to switch to your own auto insurance.
