Colorado is a popular state, and with good reason. The Centennial State offers a plethora of outdoor activities, including hiking, skiing and camping, to take in its stunning vistas. Colorado saw over 86 million visitors in 2019. With so many vehicles on its roads, drivers who live in Colorado should be especially aware of their car insurance needs.
To identify the best car insurance in Colorado, Bankrate’s editorial team analyzed auto insurance companies using average premiums obtained from Quadrant Information Services, customer service scores from J.D. Power, available coverages and discount offerings. When shopping for auto insurance, Colorado residents may be able to use this information to help them make more informed decisions.
Best car insurance companies in Colorado
To find the best insurance companies in Colorado, Bankrate’s editorial team reviewed several facets of each company, including average premiums, coverage offerings, available discounts, and third-party rankings. If you are looking for the best auto insurance in Colorado, you may want to consider a quote from the following five auto insurance companies:
|Provider||Average annual full coverage premium||J.D. Power customer satisfaction score
Allstate offers several options to customize your auto insurance policy, including accident forgiveness, sound equipment coverage and ridesharing coverage. If you prefer to have an in-person agent to help you with your insurance needs, Allstate might be a good choice for you.
The company received an above-industry-average score for customer service satisfaction in the J.D. Power study, as well as in the 2020 J.D. Power U.S. Auto Claims Satisfaction Study. This indicates that customers tend to be satisfied with Allstate’s customer service and claims service. The company’s full coverage premium is not the lowest on our list, but Allstate does offer several discounts that might help you save.
Learn more: Allstate Insurance review
American Family is known for its customer service, tying with Geico for the highest official ranking in the J.D. Power Study. If you have other insurance products and would prefer to insure them in the same place, American Family may be a good option. The company offers numerous other insurance products, including home, boat and RV insurance.
American Family’s auto insurance policy is incredibly customizable, with options like ridesharing coverage, classic car insurance and roadside assistance available to help you tailor your policy to your needs. The company also offers several discounts that could lower your premium.
Learn more: American Family Insurance review
Geico is known for offering low premiums, and the company’s average rates in Colorado are no exception. Geico also offers a generous list of discounts to help you save even more. If budget is your primary concern when it comes to auto insurance, you may want to consider a quote from Geico.
Geico tied with American Family for the highest official customer satisfaction ranking in the J.D. Power study. However, the company did receive a below-industry-average ranking from J.D. Power for claims service.
Learn more: Geico Insurance review
Progressive’s average full coverage premium is the highest on our list, but the company does offer several perks that could make up for its high average premium. If you want to have all your insurance products with one company, Progressive could be a good option. The company offers an assortment of product lines in addition to auto insurance. You could buy your home insurance, boat insurance, business insurance and even segway insurance with Progressive.
However, Progressive did receive below-industry-average scores from J.D. Power for both customer satisfaction and claims service. This might indicate that customers generally feel that the service they receive from Progressive is lacking.
Learn more: Progressive Insurance review
With over 16% of the market share, State Farm has maintained its long-standing position as the largest insurer of personal automobiles in the United States for another year. State Farm offers local agents across the country, so if you prefer to handle your insurance with a live agent, State Farm could be a good choice.
State Farm offers several insurance products, including auto, home and life insurance. The company also offers banking services. The auto insurance provided by State Farm is relatively basic, but the company does have the second-lowest average annual full coverage premium on our list.
Learn more: State Farm Insurance review
Average car insurance cost in Colorado
For car insurance, Colorado drivers pay an average annual premium of $518 for minimum coverage and $2,016 for full coverage. Compared to the nationwide average annual premium of $1,674 for full coverage, Colorado’s rates are higher. However, minimum coverage in Colorado is less expensive than the national average of $565 per year.
|Average annual premium for minimum coverage in Colorado||Average annual premium for full coverage in Colorado|
Auto insurance rates are determined using a number of factors, including the company you choose, the coverages you purchase and your driving history. Your rates will likely be different than the average rates.
State minimum insurance requirements in Colorado
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $15,000 property damage
Although you can drive legally with just the minimum amounts of coverage, most insurance agents recommend that you purchase higher levels of coverage. If you cause an accident, your insurance will only pay up to your policy limits. If you have state minimum coverage and the damages you cause are greater than your insurance limits, you will be responsible for the overage out of pocket.
You may also want to consider full coverage insurance, which adds comprehensive and collision coverage. These coverages provide financial protection for damage to your own vehicle. If you have a loan or lease on your car, your lender will likely require you to carry full coverage.
How to get the best car insurance
Car insurance is personalized to each driver, depending on rating factors such as where you live, the car you drive and your driving history. When searching for the best car insurance in Colorado, you might want to:
- Evaluate your needs: Everyone brings a unique set of circumstances to the search for car insurance. Maybe you have a car loan, which means you will likely need full coverage. Or perhaps you have a teenage driver. Whatever your specific situation, you may want to look for companies that are suited to insuring your needs.
- Consider state factors: In addition to how much minimum coverage is required, your state and even your ZIP code can impact your premium in several ways. You may want to consider common causes of loss in your area to choose auto insurance coverages. For example, if your area has a high number of uninsured motorists, you may want to add uninsured motorist coverage to your policy.
Car insurance discounts in Colorado
There are a number of available auto insurance discounts from providers in Colorado, but they will vary from company to company. Some common discounts that many insurance companies offer include:
- Multi-policy and multi-car discounts: If you insure more than one type of policy, like your auto and home insurance, with the same company, you will often qualify for a discount. If you have more than one car, you could earn a multi-car discount if you insure both cars with the same company.
- Teen driver discounts: If you have a young driver to insure, there might be a few discounts that you can take advantage of. Insurance companies often offer good student discounts, student away at school discounts and driver education discounts.
- Safety features discounts: If your car has safety features like anti-lock brakes or side curtain airbags, you might qualify for a discount.
Every company has different discounts and different requirements. The best way to make sure you are utilizing all the discounts that you qualify for is to talk to your agent.
Frequently asked questions
What do I need to get car insurance in Colorado?
Although every company is different, you will likely need some basic information to get an auto insurance quote. An insurance company will likely ask for the name, date of birth and driver’s license number for all the drivers in your household. You will also need the vehicle identification number (VIN) of all your vehicles. If you have current insurance, it might be helpful to have your declarations page handy while you are requesting quotes, as most of the needed information will be listed there.
How quickly can I get car insurance in Colorado?
If you have all of your documentation together and you have no problems with your driving record, you may be able to get coverage the same day you request a quote. However, allowing yourself time to get quotes from several companies and review the prices, discounts and coverages may be helpful.
What is the difference between minimum coverage and full coverage?
Minimum coverage refers to the state minimum required coverage in every state. Full coverage means that you also have coverage for damage to your own vehicle. However, insurance coverage exists on a spectrum. You can have state minimum liability limits and still purchase comprehensive and collision coverage, meaning you would have full coverage. You can also purchase higher liability limits and no vehicle coverage, meaning that you have liability-only coverage that is higher than state minimum. If you are not sure how much coverage you need, talking to an insurance professional might be helpful.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Why trust us
Bankrate demystifies the insurance industry by making it easier to find insurance information. Regardless of where you are in your journey, Bankrate helps you make informed decisions.
We use two key sets of customer priorities to evaluate insurance carriers and help you decide what to consider:
First: we evaluated customer satisfaction and complaints, financial strength and stability and overall costs based on average rates quoted to real drivers.
Second: we evaluated customer experience by assessing each provider’s customer service options through online capabilities and agent accessibility.