- Chevrolet Colorado car insurance costs $1,470 per year on average, or around $123 per month for full coverage.
- The Colorado WT Extended Cab 2WD trim level is the cheapest to insure at around $1,376 per year. The most expensive trim is the ZR2 Extended Cab Duramax 4WD at $1,584 per year.
- The Colorado ranks second out of 10 midsize trucks for auto insurance affordability.
How much does Chevy Colorado insurance cost?
Chevy Colorado insurance rates average $1,470 per year, which is the equivalent of $123 a month. The Colorado costs $215 less per year than the overall U.S. average for all vehicles.
From an individual coverage perspective, comprehensive (or other-than-collision) coverage will cost about $398 a year, collision insurance costs about $564, and the remaining liability/medical is approximately $508.
Average cost per month to insure a Chevy Colorado pickup ranges from $115 to $132 depending on the trim level. A little later in this article we will break down the average insurance rate for each Colorado trim level.
The chart below shows how average 2023 Chevrolet Colorado car insurance rates fluctuate based on the age of the driver and policy deductibles. The prices shown are for an annual policy, and range from the cheapest price of $1,116 per year for a 60-year-old driver with $1,000 deductibles to a high of $3,312 annually for a driver age 20 with deductibles of $250.
|Driver Age||Deductible||Annual Cost||Monthly Cost|
To help you comprehend the vast range of Colorado insurance rates, keep in mind that choosing a liability-only policy in the cheapest areas of Idaho or Virginia can cost as little as $248 a year.
For the same style of Chevrolet Colorado, a newly-licensed teen driver with an accident or two and maybe a couple speeding tickets in urban Detroit, Michigan, could get a bill for $16,472 a year for a policy that provides full coverage.
There are literally billions of possible rate combinations when you factor in every possible variation and include geo-targeting by zip code. If you’re either looking for cheaper rates or just kicking the tires so to speak, we recommend getting a rate quote so you can eliminate the guessing.
Which Chevy Colorado trims are cheap to insure?
The cheapest trim levels of Chevy Colorado to insure are the WT Extended Cab 2WD, the WT Extended Cab 4WD, and the WT Crew Cab 4WD all at around $1,376 per year, or about $115 per month
The two most expensive trim levels of Chevrolet Colorado to insure are the ZR2 Extended Cab Duramax 4WD and the ZR2 Crew Cab 4WD at $1,566 per year. Those will cost an extra $208 per year over the cheapest WT Extended Cab 2WD model.
The next table displays the average annual and 6-month policy costs, plus a monthly amount for budgeting, for each 2023 Chevy Colorado package and trim level.
|Chevrolet Colorado Trim Level||Annual Policy||Six-Month Policy||Per Month|
|WT Extended Cab 2WD||$1,376||$688||$115|
|WT Extended Cab 4WD||$1,376||$688||$115|
|WT Crew Cab 4WD||$1,390||$695||$116|
|WT Crew Cab 2WD||$1,392||$696||$116|
|LT Extended Cab 4WD||$1,424||$712||$119|
|LT Extended Cab 2WD||$1,426||$713||$119|
|LT Crew Cab 4WD||$1,470||$735||$123|
|Z71 Extended Cab 4WD||$1,486||$743||$124|
|LT Crew Cab 2WD||$1,488||$744||$124|
|Z71 Crew Cab 4WD||$1,502||$751||$125|
|Z71 Crew Cab Duramax 4WD||$1,538||$769||$128|
|ZR2 Extended Cab 4WD||$1,560||$780||$130|
|ZR2 Crew Cab 4WD||$1,566||$783||$131|
|ZR2 Extended Cab Duramax 4WD||$1,584||$792||$132|
How do Chevrolet Colorado insurance rates compare?
The Chevy Colorado ranks second out of 10 total comparison vehicles in the 2023 midsize truck class. The Colorado costs an average of $1,470 per year for full coverage insurance, while the segment median rate is $1,666 annually, making the Colorado $196 cheaper per year.
When average rates are compared to other midsize trucks, insurance for a 2023 Chevy Colorado costs $144 less per year than the Toyota Tacoma, $96 less than the Ford Ranger, $52 less than the Nissan Frontier, and $364 less than the Jeep Gladiator.
The chart below ranks the cost to insure all midsize pickups for the 2023 model year, with the Chevrolet Colorado ranking second at an average annual cost of $1,470 (about $123 per month).
|7||Hyundai Santa Cruz||$1,640||$170|
The 2023 Chevy Colorado has an average MSRP of $37,336, ranging from the cheapest WT Extended Cab 2WD model at $28,605 to the most expensive ZR2 Extended Cab Duramax 4WD costing $48,065.
Using this average purchase price value, we can compare the Chevy Colorado to other vehicles in the midsize truck segment that have the most similar MSRP values.
The four trucks that are most similar in price to the Chevy Colorado are the Toyota Tacoma, Nissan Frontier, Ford Ranger, and GMC Canyon.
The next list shows how they compare to a Colorado for overall price and the cost of insurance.
- Compared to the Toyota Tacoma – The 2023 Chevrolet Colorado has an average MSRP that is $2,292 more expensive than the Toyota Tacoma ($37,336 versus $35,044). Buying insurance for the Toyota Tacoma costs an average of $144 more per year than the Chevrolet Colorado.
- Compared to the Nissan Frontier – With an average dealer MSRP of $34,513 ($29,190 to $39,120), the Nissan Frontier costs $2,823 less than the average sticker price for the Colorado. The average insurance cost for a Colorado compared to the Nissan Frontier is $52 less per year.
- Compared to the Ford Ranger – For the 2023 model year, the MSRP on the Ford Ranger averages $3,092 less than the average MSRP for the Colorado ($34,244 compared to $37,336). Insurance on a Colorado costs an average of $96 less per year than the Ford Ranger.
- Compared to the GMC Canyon – The 2023 GMC Canyon sells for an average of $41,127 ($34,395 to $48,890), which is $3,791 more expensive than the average cost of the Colorado. The cost to insure a Chevrolet Colorado compared to the GMC Canyon is $132 less every 12 months on average.
Chevrolet Colorado Insurance Cost by Model Year
There are quite a few factors that help determine how much you’ll pay to insure your Colorado. One of those is the age of the vehicle.
The table below shows average insurance rates on the Colorado back to the 2015 model year. These rates are for full-coverage insurance (including comprehensive and collision coverage), so rates for liability-only coverage on older models is considerably cheaper.
|Model Year and Vehicle||Driver Age 20||Driver Age 40||Driver Age 60|
|2023 Chevrolet Colorado||$2,876||$1,470||$1,308|
|2022 Chevrolet Colorado||$2,674||$1,362||$1,216|
|2021 Chevrolet Colorado||$2,658||$1,344||$1,202|
|2020 Chevrolet Colorado||$2,626||$1,326||$1,188|
|2019 Chevrolet Colorado||$2,854||$1,434||$1,282|
|2018 Chevrolet Colorado||$3,010||$1,508||$1,352|
|2017 Chevrolet Colorado||$2,868||$1,442||$1,290|
|2016 Chevrolet Colorado||$2,700||$1,354||$1,212|
|2015 Chevrolet Colorado||$2,680||$1,346||$1,208|
Additional Rates and Policy Information
Other important data observations about insuring a Chevrolet Colorado include:
- Gender affects car insurance rates. For a 2023 Chevrolet Colorado, a 20-year-old man pays an average rate of $2,876 per year, while a 20-year-old female will get a rate of $2,160, a difference of $716 per year. The females get the cheaper rate by far. But by age 50, the cost for male drivers is $1,338 and the cost for women is $1,308, a difference of only $30.
- The older you get, the cheaper insurance rates become. The difference in insurance rates for a 2023 Colorado between a 50-year-old driver ($1,338 per year) and a 30-year-old driver ($1,544 per year) is $206, or a savings of 13.3%.
- Be a careful driver and pay less. Causing too many accidents will raise rates, as much as $1,994 per year for a 20-year-old driver and as much as $586 per year for a 40-year-old driver.
- Car insurance is cheaper with higher deductibles. Raising your policy deductibles from $500 to $1,000 could save around $220 per year for a 40-year-old driver and $418 per year for a 20-year-old driver.
- Lower deductibles raise insurance cost. Cutting your deductibles from $500 to $250 could cost an additional $226 per year for a 40-year-old driver and $436 per year for a 20-year-old driver.