Best cheap car insurance companies in Denver

The three companies writing some of the cheapest car insurance in Denver are Geico, USAA and Colorado Farm Bureau based on average rate data provided by Quadrant Information Services. These and a few other insurance companies in Denver — notably Nationwide and State Farm — have average full and minimum coverage rates that fall below the city average.

Our insurance team, which includes licensed property and casualty agents, compared average rates, coverage options, discounts, digital tools and third-party ratings to assign each company a Bankrate Score. This score may help drivers find the best policy for their own needs based on their priorities. Some key third-party metrics we looked at include the 2022 J.D. Power Auto Insurance Study and financial strength ratings from AM Best.

Geico

In addition to offering some of the lowest average rates in Denver, drivers on a budget may save with Geico’s long list of potential discounts. Savings opportunities may be available for military service, bundling, enrolling in the DriveEasy telematics program and more. Although Geico doesn’t have as many endorsements as some other competitors, it does advertise emergency roadside service, rental car reimbursement and mechanical breakdown insurance. Geico scored just above the segment average for customer satisfaction in the Southwest region of J.D. Power’s study, and its robust digital tools may appeal to drivers who prefer to manage their auto insurance virtually.

Learn more: Geico Insurance review

USAA

If you’re a military member stationed at the Buckley Air Force Base, USAA may be the best cheap car insurance company for you. USAA only writes policies for active-duty military members, veterans and their eligible families and offers coverage options and discounts that tailor specifically to the needs of military members. These include potential discounts for garaging a vehicle on base and savings if your parents are insured with USAA. Although USAA is not technically eligible for ranking with J.D. Power, it did earn the highest customer satisfaction score in the Southwest region. USAA does not have local agents available for in-person service, so it may not appeal to drivers who prefer working face-to-face with an agent.

Learn more: USAA Insurance review

Colorado Farm Bureau

Colorado Farm Bureau has been writing policies for Denver drivers since 1950, so
it may have extensive feet-on-the-ground knowledge of the needs of Colorado drivers. Policies include the basic coverage types necessary to drive in the Centennial State, as well as some potential add-ons like rental expense coverage and equipment buyback coverage. The company is not rated by J.D. Power for customer satisfaction, and its list of advertised endorsements and discounts is fairly limited, but the Farm Bureau is also a regional carrier with limited digital tools, so speaking with a local agent may be a better way to learn about coverage options.

Learn more: Farm Bureau Insurance review

Nationwide

Nationwide may be a suitable carrier for drivers who want to customize their policy with unique add-ons. Nationwide may offer classic car coverage, accident forgiveness and vanishing deductible options. Although its average rates are not the cheapest on our list, policyholders may save with 10 potential discounts, including two telematics programs, good student savings and a defensive driving discount. Nationwide was not scored in the Southwest region of J.D. Power’s study, but it came in below average in most of the other regions, so you may want to speak with existing customers about their experience before buying a policy.

Learn more: Nationwide Insurance review 

State Farm

State Farm may be the best car insurance company for Denver drivers looking for a bit of everything. The carrier offers robust digital tools for virtual policy management and over 50 local agents in the city. This may be part of the reason the carrier earned the top slot in the Southwest region of the J.D. Power study. State Farm offers a fairly standard list of discounts and endorsements, including two telematics programs and potential add-ons like emergency roadside assistance and ridesharing coverage. Gap insurance is not available from State Farm, so if you have a new car that you loan or lease, the carrier might not be the best option for you.

Learn more: State Farm Insurance review

How to get and keep the cheapest car insurance in Denver

Although Denver’s average car insurance rates are higher than Colorado’s state average, you may still be able to find cheap car insurance with a little bit of work. You may want to start by getting several quotes from a range of cheap car insurance companies to see which might give you the best price for your circumstances. For additional savings, you could consider these strategies:

• Look for relevant discounts: Almost all insurers offer at least a few discounts, and many of them may be easy to earn. Speaking with an agent during the quoting process may help ensure you’re taking advantage of all potential discounts you may be eligible for.
• Maintain a clean driving record: Your insurer is in the business of risk, and safer drivers are typically rewarded with lower car insurance rates. Avoiding speeding tickets, accidents and other violations may help you secure lower rates and keep them over time.