- Chevrolet Colorado car insurance costs $1,246 per year on average, or around $104 per month for full coverage.
- The Colorado WT Extended Cab 4WD trim level is the cheapest to insure at around $1,146 per year. The most expensive trim is the Z71 Crew Cab 2WD at $1,360 per year.
- The Colorado ranks #1 out of 10 midsize trucks for auto insurance affordability.
How much does Chevy Colorado insurance cost?
Chevy Colorado insurance rates average $1,246 per year, which is the equivalent of $104 a month. The Colorado costs $305 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 $336 a year, collision insurance costs about $494, and the remaining liability/medical is approximately $416.
Average cost per month to insure a Chevy Colorado pickup ranges from $96 to $113 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 2022 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 $946 per year for a 60-year-old driver with $1,000 deductibles to a high of $2,818 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 $23,546 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 4WD, the WT Crew Cab 4WD, and the LT Extended Cab 4WD all at around $1,146 per year, or about $96 per month
The two most expensive trim levels of Chevrolet Colorado to insure are the Z71 Crew Cab 2WD and the LT Crew Cab 2WD at $1,314 per year. Those will cost an extra $214 per year over the cheapest WT Extended Cab 4WD model.
The next table displays the average annual and 6-month policy costs, plus a monthly amount for budgeting, for each 2022 Chevy Colorado package and trim level.
|Chevrolet Colorado Trim Level||Annual Policy||6-month Policy||Per Month|
|WT Extended Cab 4WD||$1,146||$573||$96|
|WT Crew Cab 4WD||$1,172||$586||$98|
|LT Extended Cab 4WD||$1,182||$591||$99|
|LT Crew Cab 4WD||$1,204||$602||$100|
|WT Extended Cab 2WD||$1,218||$609||$102|
|Z71 Extended Cab 4WD||$1,230||$615||$103|
|Z71 Crew Cab 4WD||$1,248||$624||$104|
|WT Crew Cab 2WD||$1,250||$625||$104|
|LT Extended Cab 2WD||$1,290||$645||$108|
|ZR2 Extended Cab 4WD||$1,294||$647||$108|
|ZR2 Crew Cab 4WD||$1,310||$655||$109|
|LT Crew Cab 2WD||$1,314||$657||$110|
|Z71 Crew Cab 2WD||$1,360||$680||$113|
How do Chevrolet Colorado insurance rates compare?
The Chevy Colorado ranks #1 out of 10 total comparison vehicles in the 2022 midsize truck class. The Colorado costs an average of $1,246 per year for full coverage insurance, while the segment median rate is $1,452 annually, making the Colorado $206 cheaper per year.
When average rates are compared to other midsize trucks, insurance for a 2022 Chevy Colorado costs $160 less per year than the Toyota Tacoma, $100 less than the Ford Ranger, $194 less than the Nissan Frontier, and $242 less than the Jeep Gladiator.
The chart below ranks the cost to insure all midsize pickups for the 2022 model year, with the Chevrolet Colorado ranking #1 at an average annual cost of $1,246 (about $104 per month).
|7||Hyundai Santa Cruz||$1,456||$210|
The 2022 Chevy Colorado has an average MSRP of $35,276, ranging from the cheapest WT Extended Cab 4WD model at $31,780 to the most expensive Z71 Crew Cab 2WD costing $35,995.
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, GMC Canyon, Nissan Frontier, and Ford Ranger.
The next list shows how they compare to a Colorado for overall price and the cost of insurance.
- Compared to the Toyota Tacoma – The 2022 Chevrolet Colorado has an average MSRP that is $119 more expensive than the Toyota Tacoma ($35,276 versus $35,157). Buying insurance for the Toyota Tacoma costs an average of $160 more per year than the Chevrolet Colorado.
- Compared to the GMC Canyon – With an average dealer MSRP of $37,220 ($29,480 to $45,895), the GMC Canyon costs $1,944 more than the average sticker price for the Colorado. The average insurance cost for a Colorado compared to the GMC Canyon is $202 less per year.
- Compared to the Nissan Frontier – For the 2022 model year, the MSRP on the Nissan Frontier averages $2,214 less than the average MSRP for the Colorado ($33,062 compared to $35,276). Insurance on a Colorado costs an average of $194 less per year than the Nissan Frontier.
- Compared to the Ford Ranger – The 2022 Ford Ranger sells for an average of $32,548 ($25,500 to $39,465), which is $2,729 cheaper than the average cost of the Colorado. The cost to insure a Chevrolet Colorado compared to the Ford Ranger is $100 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||Driver Age 20||Age 30||Age 40||Age 50||Age 60|
Additional Rates and Policy Information
Other important data observations about insuring a Chevrolet Colorado include:
- Gender affects car insurance rates. For a 2022 Chevrolet Colorado, a 20-year-old man pays an average rate of $2,440 per year, while a 20-year-old female will get a rate of $1,828, a difference of $612 per year. The females get the cheaper rate by far. But by age 50, the cost for male drivers is $1,134 and the cost for women is $1,112, a difference of only $22.
- The older you get, the cheaper insurance rates become. The difference in insurance rates for a 2022 Colorado between a 50-year-old driver ($1,134 per year) and a 30-year-old driver ($1,312 per year) is $178, or a savings of 13.6%.
- Be a careful driver and pay less. Causing too many accidents will raise rates, as much as $1,692 per year for a 20-year-old driver and as much as $496 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 $188 per year for a 40-year-old driver and $362 per year for a 20-year-old driver.
- Lower deductibles raise insurance cost. Cutting your deductibles from $500 to $250 could cost an additional $196 per year for a 40-year-old driver and $378 per year for a 20-year-old driver.