Chevrolet Colorado Insurance Rates
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UPDATED: Nov 27, 2019
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Why are pickups so expensive to insure? If you are asking this question, you are probably struggling to find cheap car insurance rates for your Chevrolet Colorado. The good news is that finding cheap car insurance rates is possible.
To help you save money, we are going to go through Chevy Colorado insurance costs, ownership costs, safety ratings, and more.
Want to start comparison shopping for Chevy Colorado insurance costs today? Enter your ZIP code in our free tool above.
Average insurance rates for a Chevrolet Colorado are $1,194 a year for full coverage. Comprehensive costs on average $216 a year, collision costs $390, and liability insurance costs $430. A liability-only policy costs as little as $486 a year, with high-risk insurance costing around $2,586. Teen drivers receive the highest rates at $4,632 a year or more.
Average premium for full coverage: $1,194
Rate estimates by individual coverage type:
Rates include $500 deductibles, 30/60 liability limits, and includes uninsured motorist coverage. Rates are averaged for all states and Colorado trim levels.
Price Range by Coverage and Risk
For a middle-aged driver, prices range go from as low as $486 for only liability insurance to a high of $2,586 for a high risk driver.
Price Range by Location
Your location has a significant impact on car insurance rates. Rural areas tend to have a lower frequency of accident claims than larger metro areas.
The diagram below illustrates the effect of location on car insurance rates.
These examples show why it is important to compare rates based on a specific location and risk profile, rather than relying on price averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Insurance Rate Analysis
The chart below shows estimated Chevrolet Colorado insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $699
- Drivers who choose higher $1,000 deductibles will pay around $1,056 a year
- The average rate for a 40-year-old driver with $500 deductibles is $1,194
- Choosing low $100 deductibles for comprehensive and collision insurance will increase the cost to $1,462
- High risk drivers with multiple violations and an at-fault accident could pay upwards of $2,586 or more
- The cost for full coverage for a teen driver may cost $4,632 a year
for a Chevrolet Colorado can also vary considerably based on your driver profile, the trim level of your Colorado, and policy deductibles and limits.
Older drivers and high deductibles could pay as little as $1,100 per year on average for full coverage. Rates are highest for teen drivers, where even good drivers upwards of $4,600 a year. View Rates by Age
Where you live makes a big difference in Chevrolet Colorado insurance rates. A 40-year-old driver could pay as low as $790 a year in states like Idaho, Maine, and Iowa, or as much as $1,710 on average in Michigan, Louisiana, and New York.
|State||Premium||Compared to U.S. Avg||Percent Difference|
Choosing high deductibles could save up to $410 each year, while buying higher liability limits will cost you more. Going from a 50/100 limit to a 250/500 limit will cost as much as $327 . View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you could be paying at a minimum $1,400 to $2,000 per year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 131% more than average. View High Risk Driver Rates
With so much variability in rates, the only way to know exactly what you will pay is to get quotes from as many companies as possible. Every company uses a different rate calculation, can be significantly different from one company to the next.
Insurance Rates by Trim Level and Model Year
|Model and Trim||Annual Premium||Monthly Premium|
|Chevrolet Colorado LT 2WD||$1,170||$98|
|Chevrolet Colorado LT Extended Cab 2WD||$1,210||$101|
|Chevrolet Colorado LT 4WD||$1,052||$88|
|Chevrolet Colorado LT Crew Cab 2WD||$1,250||$104|
|Chevrolet Colorado LT Extended Cab 4WD||$1,090||$91|
|Chevrolet Colorado LT Crew Cab 4WD||$1,168||$97|
Rates assume 2018 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.
|Model Year||Comprehensive||Collision||Liability||Total Premium|
|2018 Chevrolet Colorado||$216||$390||$430||$1,194|
|2016 Chevrolet Colorado||$196||$350||$452||$1,156|
|2007 Chevrolet Colorado||$126||$166||$474||$924|
|2006 Chevrolet Colorado||$122||$150||$468||$898|
|2005 Chevrolet Colorado||$120||$146||$460||$884|
|2004 Chevrolet Colorado||$118||$140||$452||$868|
Rates are averaged for all Chevrolet Colorado models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Find Cheaper Chevrolet Colorado Insurance
Saving money on Chevrolet Colorado insurance not only requires being a safe driver, but also maintaining good credit, eliminating unneeded coverage, and bundling your home and auto policies. Take the time to shop around at least every two years by getting price quotes from direct carriers like GEICO and Progressive, and also from your local insurance agents.
Here is a summary of the information that was covered in this article.
- Increasing deductibles can save around $400 each year
- Drivers can save as much as $140 per year simply by quoting early and online
- Drivers who require more liability insurance will pay about $470 each year to go from a minimum limit to 250/500 limits
- Young drivers pay the highest rates, costing as high as $386 per month for full coverage
- High-risk drivers that have multiple accidents or serious violations will pay on average $1,390 more each year for insurance
Drivers with poor records may pay an average of $1,410 more a year. To find out what else determines the price of car insurance, keep reading.
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How does the size and class of the Chevrolet Colorado affect liability rates?
Let’s start by clarifying what liability insurance covers. Liability coverage is composed of bodily injury and property damage coverages. If you cause an accident, these two liability coverages will pay for the other driver’s accident costs.
So how does liability insurance relate to the size and class of the Chevrolet Colorado? Essentially, insurers raise liability insurance rates for vehicles that are higher risk, such as heavy vehicles or sports cars. Because the Chevrolet Colorado is a small pickup, it won’t be considered a high-risk vehicle unless it is prone to crashing.
To find out if the Chevrolet Colorado is high-risk, we are going to look at the Insurance Institute for Highway Safety’s (IIHS) 2016 to 2018 data on insurance losses. This will help us decipher if the Chevrolet Colorado has a history of liability claims.
Let’s start with the losses for property damage liability insurance. We did include losses for various builds of the Chevrolet Colorado, as builds like a 4×4 can cost more to insure due to poorer losses.
- Chevrolet Colorado crew cab: 17 percent (average)
- Chevrolet Colorado crew cab 4WD: 4 percent (average)
- Chevrolet Colorado extended cab: 23 percent (worse than average)
- Chevrolet Colorado extended cab 4WD: -15 percent (average)
The Chevrolet Colorado extended cab 4WD has the best insurance loss rate, even though it is still considered average for small pickups. Anything under zero is a good insurance loss, as it means fewer claims were filed.
The next set of losses are for bodily injury liability insurance. Once again, the Chevrolet Colorado extended cab 4WD has the best insurance losses.
- Chevrolet Colorado crew cab: 7 percent (average)
- Chevrolet Colorado crew cab 4WD: -17 percent (average)
- Chevrolet Colorado extended cab: 16 percent (average)
- Chevrolet Colorado extended cab 4WD: -33 percent (substantially better than average)
Because most of the losses for both bodily injury and property damage liability insurance are average, you should have a normal rate.
What does liability insurance cost for the Chevrolet Colorado?
How much does insurance cost for a truck per month and do pickup trucks cost more to insure? We want to answer these questions by seeing what the costs are for the 2021 Chevrolet Colorado crew cab. To do this, we got a sample quote from Geico based on a 40-year-old male driver who lives in Pennsylvania, travels 13,000 miles a year, and has a clean driving record.
The rates you see below are for a six-month bodily injury liability policy. It will cost you an average of $97 to upgrade from low coverage to high coverage (or about $16 extra a month).
- Low ($15,000/$30,000): $41.92
- Medium ($100,000/$200,000): $85.93
- High ($500,000/$500,000): $138.34
As for a property damage liability policy, it costs $55 to upgrade your coverage from low to high. This amounts to only $9 a month.
- Low ($5,000): $333.48
- Medium ($20,000): $365.21
- High ($100,000): $388.38
The prices for the 2021 Chevrolet Colorado are normal, which is good news. You can save more by shopping around for rates and taking advantage of discounts, such as safety feature discounts. Keep reading to find out more.
What are the safety features and ratings of the Chevrolet Colorado?
Insurers will often offer you a discount if your car has added safety features, such as a vehicle theft tracking device or a backup camera. Standard features included in your vehicle may also earn you a discount, such as anti-lock brakes.
So what standard safety features does the 2021 Chevrolet Colorado have? Autoblog listed the following features:
- Crash prevention: anti-lock brakes and stability control.
- Crash safety: front-impact airbags, side-impact airbags, overhead airbags, and seatbelt pretensioners.
- Anti-theft: ignition disable device.
The Chevrolet Colorado has some good safety features, such as overhead airbags (for rollovers) and stability control. However, it is missing features like anti-whiplash headrests or knee airbags. Overall, however, the number of standard features should earn you a discount.
The crash rating of your vehicle may also help lower costs. Safer vehicles mean you are less likely to sustain serious injuries in a crash, so your insurer can pay less on your claim. The IIHS has tested two different versions of the Chevrolet Colorado, the crew cab pickup and the extended cab pickup.
Let’s start by looking at the crash test ratings for the 2020 Chevrolet Colorado crew cab pickup.
- Small overlap front (driver-side): Good
- Small overlap front (passenger-side): Marginal
- Moderate overlap front: Good
- Side: Good
- Roof strength: Good
- Head restraints and seats: Good
Good is the highest rating possible, so the crew cab pickup did fairly well (with the exception of the small overlap front test (passenger-side). To get a better idea of how the IIHS tests vehicles, watch the video below.
The next set of crash-test ratings are for the 2020 Chevrolet Colorado extended cab pickup.
- Small overlap front (driver-side): Acceptable
- Moderate overlap front: Good
- Side: Acceptable
- Roof strength: Good
- Head restraints and seats: Good
Acceptable is the second-highest rating, so the extended cab pickup didn’t do too bad. However, we would always prefer to see good across the board, as it means you are safer if you get into an accident.
Another factor insurers may look at when determining rates is the fatality rates for your vehicle type. The good news is that the IIHS’s 2018 data showed that pickups had the lowest number of fatalities (4,369) in comparison to SUV fatalities (5,035) and car fatalities (13,138). Take a look at the list below to see how the pickup deaths are broken up by crash type.
- Frontal Impact: 2,493 deaths
- Side Impact: 807 deaths
- Rear Impact: 173 deaths
- Other (mostly rollovers): 896 deaths
While pickups have the lowest number of fatalities, pickup fatality rates per million vehicles are not the lowest. In 2018, there were 34 pickup driver fatalities per million vehicles, but only 23 SUV driver fatalities (cars had 48 driver fatalities per million vehicles).
SUVs also had the lowest fatality rates per million vehicles for all occupants, as there 32 SUV fatalities per million vehicles but 42 pickup fatalities and 69 car fatalities. Even though pickups have higher fatality rates than SUVs, your rates shouldn’t be terrible, as the Chevrolet Colorado crash tests were decent.
What is the MSRP of the Chevrolet Colorado?
How much should I pay for a 2019 Chevy Colorado? When shopping for a car, you probably wonder how much you should pay. Insurers also want to know average car prices, as it helps insurers determine potential costs if your car needs to be repaired or replaced.
While you should be shopping for the fair purchase price (what others are paying), insurers will be looking for the manufacturer’s suggested retail price (MSRP). This is the price a manufacturer thinks its car is worth. While fair purchase prices will change, the MSRP is a fixed price.
To find out the various prices for a 2019 Chevrolet Colorado crew cab, we used Kelley Blue Book (KBB).
- MSRP: $29,395
- Invoice Price: $28,031
- Fair Purchase Price: $27,234
- Fair Market Range: $26,087 to $29,380
A higher MSRP means higher rates (unless the vehicle is older). However, good collision and comprehensive loss rates may help offset the costs of a high MSRP. Why? Both these coverages pay for repairs if you’re in an accident. Sometimes lenders will force you to carry these coverages because they are so important in an accident.
- What is collision insurance and what does it cover? This coverage covers crashes with other vehicles and objects.
- What is comprehensive coverage on a car insurance policy? Comprehensive covers animal collisions, natural disaster damages, theft, and vandalism.
So if the losses (claims paid) are decent for these two coverages, you could still have good insurance rates even with a high MSRP. Let’s take a look at the IIHS’s data on losses for collision insurance.
- Chevrolet Colorado crew cab: -12 percent (average)
- Chevrolet Colorado crew cab 4WD: -16 percent (average)
- Chevrolet Colorado extended cab: -23 percent (better than average)
- Chevrolet Colorado extended cab 4WD: -29 percent (better than average)
All of these collision losses are negative, which is good. The extended cab has better than average losses, which could mean a slightly lower collision rate. The comprehensive losses are also good, as you can see below.
- Chevrolet Colorado crew cab: -32 percent (substantially better than average)
- Chevrolet Colorado crew cab 4WD: -12 percent (average)
- Chevrolet Colorado extended cab: -34 percent (substantially better than average)
- Chevrolet Colorado extended cab 4WD: -27 percent (better than average)
Because the insurance losses are great for the Chevrolet Colorado, you should have decent rates even though the Chevrolet Colorado costs a bit more than other cars.
How much will it cost to repair my Chevrolet Colorado?
Repair costs can add up, especially if you have a car with hard-to-find parts. A car that requires expensive repairs will also cost more to insure, as insurers raise rates to offset potential claim losses.
Luckily, RepairPal’s reliability rating of the Chevrolet Colorado is four out of five (above average). The annual repair cost is $599, which is only slightly higher than the average repair costs for midsize trucks ($548).
The repair costs for level two damage are also normal, according to the estimates we pulled from InstantEstimator’s free tool for a 2021 Chevrolet Colorado crew cab.
- Front bumper: $389
- Rear bumper: $399
- Hood: $387
- Roof: $435
- Front door: $391
- Rear door: $379
- Fender: $351
- Quarter panel: $399
The roof is the most expensive part to repair on a vehicle, while the fender is the cheapest part to repair. Overall, the repair costs are normal, so you should have decent rates.
We hope our guide helped you better understand Chevrolet Colorado insurance rates. If you want to start comparing Chevrolet Colorado insurance rates right away, enter your ZIP code in our free tool.
Rate Tables and Charts
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$83|
|5-yr Claim Free||$76|
|Paid in Full/EFT||$51|
Discounts are estimated and may not be available from every company or in every state.