Car Insurance For College Students In Colorado 2024

I consider GEICO the leading car insurance provider for college students in Colorado.

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Written by Doug Schaffer
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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

Car Insurance For College Students, 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
4.7

Affordable Coverage

824

A++

Instant Quote
Progressive
4.6

Driving Violations

853

A+

Instant Quote
GEICO
4.7

Full Coverage

824

A++

Instant Quote
State Farm
4.9

Minimum Coverage

842

A++

Instant Quote
Auto-Owners
4.6

Customer Service

837

A++

Instant Quote
State Farm
4.9

Low-Mileage Drivers

842

A++

Instant Quote
Scroll to see comparisons

Best Car Insurance Companies For College Students In Colorado


Best For Low-Mileage Drivers

Overall Rating
4.9

Key Statistics

10/10 Affordability
10/10 Customer Reviews
9/10 Payouts
9/10 Coverage Level

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

Benefits
  • 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.
Drawbacks
  • 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

Overall Rating
4.7

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Payouts
9/10 Coverage Level

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

Benefits
  • 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
Drawbacks
  • Limited local agent availability
  • No coverage for gap and rideshare insurance

Best Minimum Coverage

Overall Rating
4.9

Key Statistics

10/10 Affordability
10/10 Customer Reviews
9/10 Payouts
9/10 Coverage Level

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

Benefits
  • 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
Drawbacks
  • 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

Overall Rating
4.7

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Payouts
9/10 Coverage Level

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

Benefits
  • Accident forgiveness included in policies
  • Usage-based program provides discount options
  • Affordable full coverage rates for college students
  • Customer satisfaction scores are above average
Drawbacks
  • 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

Overall Rating
4.6

Key Statistics

9/10 Affordability
8/10 Customer Reviews
8/10 Payouts
8/10 Coverage Level

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

Benefits
  • 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
Drawbacks
  • 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

Overall Rating
4.6

Key Statistics

7/10 Affordability
9/10 Customer Reviews
9/10 Payouts
10/10 Coverage Level

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

Benefits
  • 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
Drawbacks
  • 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.

278

Quotes Analyzed

25

Years Of Industry Experience

22

Brands Reviewed

38+

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.

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