Car insurance premiums start to climb for drivers at around age 65. According to the Centers for Disease Control and Prevention, older drivers have a higher rate of fatal crashes than those aged 35 to 54.
But that doesn’t mean seniors can’t find good deals on car insurance. Our guide will help you find the cheapest rates for seniors in Colorado and learn other ways to save on auto insurance premiums.
- In Colorado, a 65-year-old driver can expect to pay an average of $2,205 annually for full coverage car insurance.
- In Colorado, a 70-year-old driver’s car insurance rates are 5% more for full coverage than for a 65-year-old driver.
- A 75-year-old driver in Colorado pays 12% more a full coverage policy than a 65-year-old driver.
- Reviewing and comparing car insurance quotes every six months or at renewal can help you find the most affordable rates.
Cheapest car insurance companies for seniors in Colorado
Here are the most affordable full coverage car insurance rates in Colorado for drivers of different ages:
- Cheapest for seniors, overall: Geico, $119 per month.
- Cheapest for seniors at age 65: Geico, $103 per month.
- Cheapest for seniors at age 70: Geico, $125 per month.
- Cheapest for seniors at age 75: Geico, $129 per month.
Compare cheap car insurance quotes for senior drivers in Colorado
State minimum car insurance refers to the least amount of coverage that a driver is legally required to have in a particular state. This typically includes liability insurance, which covers bodily injury and property damage to others if you are at fault in an accident. Each state sets its own minimum requirements for coverage limits.
Liability car insurance with limits of 50/100/50 means:
- $50,000 per person for bodily injury
- $100,000 per accident for bodily injury per accident
- $50,000 per accident for property damage
A liability policy covers expenses for injuries and damages you cause to others in an accident, but not your own injuries or vehicle damage.
Full coverage insurance with limits of 100/300/100 includes higher liability limits:
- $100,000 per person for bodily injury
- $300,000 per accident for bodily injury to multiple people
- $100,000 per accident for property damage
Full coverage also typically includes:
- Collision coverage: Pays for damages to your car from a collision.
- Comprehensive coverage: Covers damages to your car from non-collision events (e.g., theft, fire, vandalism).
Full coverage ensures you are covered for a wide range of incidents, both for your liability to others and for your own vehicle’s damage.
Below, find the cheapest car insurance rates in Colorado from major insurers for three coverage levels: state minimum, liability-only with limits of 50/100/50 and full coverage with 100/300/100 limits.
Select your age and type of coverage below to see the average annual and monthly rates.
| Company Name | Avg. Annual Premium | Avg. Monthly Premium |
|---|---|---|
- Full coverage: 100/300/100 liability with $500 comprehensive/collision deductible
- Liability only: 50/100/50 liability only
- State minimum: State minimum coverage
Why do car insurance rates increase for senior drivers in Colorado?
As drivers age, car insurance typically becomes more expensive. This is largely because statistics reveal that seniors, on average, are more involved in accidents than younger drivers, excluding teenagers, according to the Insurance Institute for Highway Safety.
Despite decades of driving experience, older drivers face age-related problems like hearing or vision loss, slower reflexes, side effects from medication and other health concerns that make driving more challenging.
According to the CDC, drivers aged over 70 have higher crash death rates per 1,000 crashes compared to those aged 35-54. NHTSA data also shows that in 2020, senior drivers 65 and older were involved in 13% of fatal accidents, marking a 26% increase since 2011.
In addition, older drivers are more likely to need medical treatment even after a minor accident, and steep hospital expenses contribute to an overall increase in insurance rates.
“Unfortunately, as we move past middle age, the odds of being more severely injured or dying in a car crash increase significantly,” says Carole Walker, executive director at Rocky Mountain Insurance Association.
“Statistically, older drivers have a higher risk of causing a crash, but an even bigger factor adding to higher car insurance bills are common health problems that make them more prone to being hurt and incurring medical bills – even in low-speed or less serious crashes,” she says.
All of this leads to higher car insurance rates. Car insurance premiums go up for most senior drivers in their mid-60s, according to CarInsurance.com data analysis, and then continue to climb. The average car insurance cost for a 65-year-old driver in Colorado is $2,205 for a full coverage policy. Drivers age 70 pay $2,318 for the same coverage.
In Colorado, 70-year-old drivers pay 5% more for full coverage than 65-year-olds and 75-year-olds pay 12% more for a full coverage policy, based on CarInsurance.com data.
Find below the annual average rate increases for senior drivers in Colorado by age and different coverage limits.
| Age | State minimum | Liability only | Full coverage |
|---|---|---|---|
| 65 | $446 | $758 | $2,205 |
| 70 | $506 | $822 | $2,318 |
| 75 | $591 | $907 | $2,516 |
Coverage types:
- Full coverage: 100/300/100 liability with $500 comprehensive/collision deductible
- Liability only: 50/100/50 liability only
- State minimum: State minimum coverage
Find out how much insurance costs for seniors
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Cheapest car insurance for seniors with tickets in Colorado
A speeding ticket or other moving violation will raise your insurance rates regardless of your age. Insurers love statistics, and data show that a driver with a ticket on their record is more likely to get in an accident that may result in a claim.
While the increase will vary by the insurance company, according to CarInsurance.com, Colorado, drivers can expect their rates to go up 46% after a speeding ticket that is 1-29 mph over the limit.
Seniors who have a speeding ticket or minor moving violation can expect increased insurance costs. Based on our analysis, the best insurance providers for seniors with tickets are shown in the table below.
| Company | Annual rates with 1 speeding ticket | Monthly rates with 1 speeding ticket |
|---|---|---|
| State Farm | $1,844 | $154 |
| Kemper | $2,522 | $210 |
| Geico | $2,605 | $217 |
| Allstate | $2,696 | $225 |
| Auto-Owners | $2,964 | $247 |
| Progressive | $3,470 | $289 |
| Farmers | $5,810 | $484 |
| USAA* | $1,824 | $152 |
Cheapest car insurance for seniors with DUIs in Colorado
A DUI is a major offense, and your insurance rates will rise significantly once it shows on your driving record. In most instances, your premium will double with a DUI. According to CarInsurance.com, in some states, rates can increase by 78% after the first DUI and up to 153% after a second.
After a DUI, finding affordable or any coverage can be difficult, but based on our data, the companies below are the best insurers for seniors with a DUI in Colorado:
| Company | Annual rates with DUI first offense | Monthly rates with DUI first offense |
|---|---|---|
| State Farm | $1,844 | $154 |
| Geico | $2,647 | $221 |
| Allstate | $3,121 | $260 |
| Progressive | $3,209 | $267 |
| Kemper | $4,162 | $347 |
| Auto-Owners | $4,258 | $355 |
| Farmers | $6,733 | $561 |
| USAA* | $3,068 | $256 |
Cheapest car insurance rates by state for senior drivers
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Our apologies, we cannot display the data due to availability or spelling errors. Please check the spelling and try again. For assistance, reach out us via Cheapest car insurance for seniors after an accident in Colorado
Similar to a ticket or DUI, an accident on your record will lead to higher insurance rates. Although the exact increase depends on the insurer, data show drivers can expect a 54% hike in premiums after an at-fault accident with property damage over $2,000.
Typically, the premium increase remains for three to five years, making it essential to find an affordable insurer. According to our data, the following companies provide the cheapest car insurance for seniors in Colorado after an accident.
| Company | Annual rates with 1 at-fault accident | Monthly rates with 1 at-fault accident |
|---|---|---|
| State Farm | $1,976 | $165 |
| Kemper | $2,578 | $215 |
| Geico | $2,627 | $219 |
| Allstate | $3,550 | $296 |
| Auto-Owners | $3,629 | $302 |
| Progressive | $4,278 | $357 |
| Farmers | $5,400 | $450 |
| USAA* | $2,290 | $191 |
How can seniors save on car insurance in Colorado?
Auto insurance for seniors can be expensive, but there are ways to save. The following are easy ways to reduce your premiums:
- Shop around: Shopping regularly for car insurance – every six months or yearly around renewal time – can ensure you have the best price.
- Raise your deductible: Increasing your deductible from $500 to $1,000 can save you a bit of money every month – but make sure you have the necessary funds to cover the higher deductible.
- Ask about discounts: Discounts – bundling with homeowners insurance, loyalty discounts and discounts for years of being licensed – are a great way to save on your car insurance. More on discounts below.
Editor’s Tip:Take a senior driving course: With an approved defensive driving course, seniors can save up to 3% on their car insurance in Colorado. The American Automobile Association(AAA) and AARP offer defensive driving courses for senior drivers in Colorado.
Car insurance discounts for senior drivers in Colorado
Here are some car insurance discounts to help seniors lower their insurance costs. See how much seniors can save, on average, in the table below.
| Discount type | Potential annual savings |
|---|---|
| Air bags | 2% |
| Anti-theft device | 2% |
| Daily commute | 7% |
| Days advanced purchase | 7% |
| Defensive driver | 3% |
| Education | 21% |
| Electronic funds transfer | 3% |
| Electronic signature | 10% |
| Homeowner | 8% |
| Lower annual mileage | 5% |
| Loyalty – years renewal with company | 9% |
| Marital status | 5% |
| Multi policy | 10% |
| Paperless/electronic documents | 3% |
| Payment type | 10% |
| Primary use | 10% |
| Profession | 7% |
| Safety devices | 3% |
| Telematics | 9% |
| Years insured | 20% |
| Years licensed | 21% |
Choosing the cheapest and best car insurance for seniors in Colorado
Senior drivers, except teen drivers, shell out higher premiums than younger adult drivers. If you are looking for an affordable policy, carefully evaluate your needs and decide the amount of coverage to purchase. While shopping for insurance, consider the price, customer service and the discounts they offer.
Find the best auto insurance companies online to see which carrier provides affordable rates and easy-to-use websites or apps.
FAQ: Cheap car insurance for seniors in Colorado
Who has the cheapest state minimum auto insurance for seniors in Colorado?
Based on our data, Geico offers the lowest state minimum auto insurance rates for seniors in Colorado, at $307 yearly. State Farm and Southern Farm Bureau also provide affordable rates on state minimum coverage for seniors in Colorado.
Which companies offer the cheapest liability car insurance for seniors in Colorado?
According to CarInsurance.com, Geico offers the cheapest liability car insurance for seniors in Colorado at $445 per year. State Farm and Southern Farm Bureau also offer inexpensive rates.
Does State Farm offer a senior discount in Colorado?
State Farm doesn’t offer a specific senior discount in Colorado, but it provides several discounts that seniors can use to reduce their insurance rates. These include discounts for completing a defensive driving course, safe driving, being a long-term customer, bundling policies and vehicle advanced safety features.
Bottom line
Geico is the cheapest for senior drivers in Colorado. To find the best car insurance rates, seniors should shop around and compare quotes online from various insurers. They can also qualify for discounts by taking defensive driving courses or bundling their car insurance with other types of coverage.
Check out how to shop for car insurance for seniors
Resources & Methodology
Additional Resources
There are several resources available for older drivers who want to stay safe behind the wheel and save on their insurance premiums:
- American Automobile Association: AAA helps senior drivers to continue driving for as long and safely as possible.
- AARP (American Association of Retired Persons): AARP’s smart driver program helps senior drivers to learn proven driving techniques and save money on car insurance.
- National Institute on Aging: The NIA provides tips to senior drivers about health and driving and offers free publications to aging seniors to answer health-related queries.
- Fitness-to-Drive Screening Measure Online: This web-based tool helps family members identify at-risk drivers.
- Eldercare Locator: Helps senior drivers maintain their independence, and provides information about highway safety for aging drivers and services.
Sources
- Centers for Disease Control & Prevention. “Older Adult Drivers.” Accessed November 2024.
- Insurance Institute for Highway Safety. “Fatality Facts 2021 Older People.” Accessed November 2024.
- National Safety Council. “Motor Vehicle: Age Group Comparisons.” Accessed November 2024.
- National Highway Traffic Safety Administration “U.S. Department of Transportation’s Fatality Analysis Reporting System (FARS).” Accessed November 2024.
Methodology
CarInsurance.com gathered car insurance rates for senior drivers from Quadrant Information Services. The rates are for a full coverage policy with limits 100/300/100 and a $500 comprehensive and collision deductible based on sample profiles of 65, 70 & 75 year old male and female drivers with clean driving records. We have compared 53,409,632 car insurance quotes across 34,588 ZIP codes from 170 national and regional car insurance companies.
To determine car insurance rates for senior drivers with a history of traffic violations, CarInsurance.com used a sample profile of a 65-year-old driver who owns a Honda Accord LX. We have compared 50,73,544 insurance quotes from 138 companies across 1,468 ZIP codes.
Car insurance rates are calculated by evaluating the sample profile of a 65-year-old male and female driver with the following incidents applied
- One at-fault property damage accident over $2K
- One at-fault property damage accident under $2K
- At-fault bodily injury accidents
- DUI/DWI first offense.
- Speeding ticket (1-10 MPH over the limit,11-29 MPH over the limit & 30+ over limit)
These are sample rates and should only be used for comparison purposes.
Note: USAA is only available to military community members and their families.
Ask the Insurance Expert
Laura Longero
Executive Editor
Laura Longero is an insurance expert and Executive Editor at CarInsurance.com, where she specializes in helping consumers navigate the complexities of the financial and insurance industries. She has 15 years of experience educating people about finance and car insurance. Prior to joining CarInsurance.com, she worked as a reporter and editor at the USA Today Network. Her expertise provides readers with practical guidance, helping them make informed choices about their financial and insurance needs.
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John McCormick
Editorial Director
John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.
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Leslie Kasperowicz
Executive Editor
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at CarInsurance.com.
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Nupur Gambhir
Managing Editor
Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service.
Guide to car insurance (with rates) in cities of Colorado