Are you searching for the best car insurance in Colorado? We understand that it can feel overwhelming, so we are here to help.
A great insurance company should offer value and handle claims quickly – so you can spend your time enjoying life in Colorado. To get the best car insurance rates in Colorado, start by getting matched to the best value providers. Simply enter your zip code into the form below to get started.
In this article:
- Cheapest Car Insurance In Colorado
- Best Car Insurance For Colorado Drivers
- What Is The Minimum Required Colorado Car Insurance?
- MedPay: Colorado Car Insurance State Suggestion
- Other Colorado Car Insurance Coverages
- Final Thoughts On Car Insurance In Colorado
Cheapest Car Insurance In Colorado
According to our rate estimates for full coverage insurance, USAA is the cheapest provider in Colorado. A 35-year-old driver with a good driving history may pay about $1,070 annually with the company. Geico, Nationwide, and Progressive are also cheap options for the state.
|Car Insurance Provider||Average Annual Cost Estimate|
|American Family Insurance||$2,034|
What Is The Average Cost Of Car Insurance In Colorado?
According to the National Association of Insurance Commissioners (NAIC), Colorado car insurance rates in 2018 averaged $1,133 per year. That was a bit higher than the national average of $1,057, which placed Colorado in the 15th spot out of all of the U.S. states for automobile insurance.
Here’s a breakdown of the coverage costs for car insurance in Colorado that year:
|Type of Coverage||Average Annual Expenditure in 2017|
*Most drivers carry liability coverage but not necessarily other types of auto insurance. Total average annual expenditure measures what Colorado drivers actually spent on auto insurance in 2018.
Annual Colorado Car Insurance Estimates By Age
Younger drivers are more likely to get into an accident, so they pay more for insurance. In Colorado, a 24-year-old may pay 30 percent more than a 35-year-old, according to our rate estimates.
|Age||Colorado Annual Car Insurance|
Annual Colorado Car Insurance Estimates By Gender
In Colorado, men pay $23 more per year for full coverage car insurance than women on average.
|Gender||Colorado Annual Car Insurance|
Annual Colorado Car Insurance Estimates For Drivers With Bad Credit
Colorado allows car insurance companies to use credit reports to set rates. A driver with fair credit may pay 20 percent more, while a driver with poor credit may pay 70 percent more for car insurance.
|Credit Rating||Colorado Annual Car Insurance|
Annual Colorado Car Insurance Estimates For Bad Drivers
According to our rate estimates, a speeding ticket can raise your rates by 21 percent, while being at fault in an accident can raise them by 48 percent.
|Driving Record||Colorado Annual Car Insurance|
5 Best Car Insurance Companies In Colorado
You have options for car insurance in Colorado. In fact, you may feel like you have too many options. To help save you time and effort, we have found the top five choices for car insurance providers in Colorado. All of them performed well in our research of the best car insurance companies, where we ranked providers on the following:
- Financial strength
- Customer service
Overall, we think Geico is the best choice for Colorado car insurance because of its reputation for quick claims and low average cost.
|Best Colorado Car Insurance||Motor1 Rating||Average Annual Cost|
*Not all providers were included in our rate estimates in each state.
#1 Geico: Best For Cheap Car Insurance In Colorado
If you’re looking for good car insurance rates in Colorado, Geico is a great place to start. The company tends to be an affordable option for many Coloradans, including drivers who have had tickets in the past.
The company wrote over $33 billion in premiums in 2020, according to the NAIC. It has an A++ financial strength rating from AM Best, and it has an A+ rating from the Better Business Bureau (BBB).
In addition to standard coverages, which we will discuss below, Geico offers an extra option called mechanical breakdown insurance that is similar to an extended warranty. It applies to new or almost-new cars and covers repairs for mechanical items, minus exclusions.
One downside is that the process of getting a quote and buying Colorado car insurance from Geico doesn’t stand out from the crowd. It performed below the industry average on the J.D. Power 2021 U.S. Insurance Shopping Study℠.
|A+ rating from the BBB and A++ financial strength rating from AM Best||Average quotes experience|
|Many choices for coverage||Usage-based app not available in all states|
|High level of customer satisfaction|
|Available in 50 states|
To learn more about the car insurance provider, check out our Geico auto insurance review.
#2 State Farm: Runner-Up For Colorado Car Insurance
It’s always a good idea to look at more than one company when shopping for car insurance in Colorado. After Geico, State Farm auto insurance is a great choice. State Farm is the largest car insurance provider in the U.S. and the largest insurer in Colorado, according to the NAIC.
The company keeps customers’ budgets in mind – it cut rates by 4.7 percent in March 2018 and 3.7 percent in March 2019. In a state where rates have been on the rise, that can help many people save on their insurance.
State Farm performed above average on the J.D. Power 2020 U.S. Claims Satisfaction Study℠, and the company has an A+ rating from the BBB. State Farm's mobile app has a 4.7-star rating on Google Play and 4.8 on the App Store. Its other apps – Drive Safe & Save and Steer Clear, both of which provide discounts – also have similar ratings from thousands of State Farm customer reviews.
In addition to a range of standard coverage options, State Farm can provide coverage for travel expenses related to accidents, rideshare drivers, and roadside assistance. Depending on your situation, you could find a great rate on Colorado car insurance through State Farm.
|Largest auto insurer in the country||Reported errors with autopay|
|Extensive selection of discounts for teens and students||Not taking new customers in Massachusetts or Rhode Island|
|Positive customer reviews and easy quote process||Higher rates than some competitors|
|Available in 48 states|
|Superior financial strength rating and A+ rating from the BBB|
To learn more about the auto insurance provider, check out our State Farm auto insurance review.
#3 Progressive: Best For High-Risk Drivers
Progressive offers some of the best car insurance for Colorado drivers who have a spotted driving history including DUIs or other reckless driving behavior. Progressive offers industry-exclusive tools and discounts that can help drivers save money on car insurance in Colorado.
Along with standard types of car insurance, you can get the following coverages:
- Roadside assistance: Includes lockout services, fuel delivery, flat-tire changes, and towing
- Loan/lease payoff: Covers the difference between your totaled car's market value and the amount you have left on your loan
- Rental car reimbursement: Covers up to $50 per day for rental car reimbursement if your car is in the shop overnight for a covered repair
- Custom parts and equipment coverage: Covers the cost of replacing aftermarket accessories after sustaining damage in a covered incident
- Rideshare coverage: Covers Uber and Lyft drivers
Progressive also offers impressive discounts that give the company a leg-up on competitors, such as the Name Your Price® tool and the Snapshot® program that help customers save money:
- Name Your Price: When you're getting a Progressive quote online, enter the amount you want to pay and get matched with Progressive car insurance plans that fit your budget.
- Snapshot: Once you're a customer, you can download this app on your phone to monitor safe driving habits that could qualify you for discounts.
|Easy quotes process||Average claims process|
|Superior financial strength rating and A rating from the BBB||Mixed customer service reviews|
|Great choice for high-risk drivers||Higher rates than some competitors|
|Several money-saving features|
Progressive also has discounts for good students, military personnel, and safe drivers. To learn more about this auto insurance provider, read our Progressive auto insurance review.
#4 Allstate: Best Local Service
Allstate provides great local agents for car insurance in Colorado. The provider has been in business since 1931, and it has earned an impressive industry standing with an A+ rating from the BBB and a financial strength rating of an A+ from AM Best.
Some standout coverage options from Allstate include:
- Personal umbrella insurance: Covers the cost of repairs after at-fault claims that exceed your policy's liability limits
- Rideshare insurance: Best for drivers who want coverage while driving for a rideshare service like Uber or Lyft
- Mexico travel insurance: Covers you while driving in Mexico
- Drivewise®: A usage-based safe driving app that grants you up to 15 percent off for practicing good driving habits
Works through a network of local agents in all 50 states
Superior financial strength rating and an A+ rating from the BBB
Mixed customer service reviews
Mileage-based discount program available
If Allstate car insurance interests you, read more about coverage in our Allstate auto insurance review.
#5 Esurance: Best High-Tech Car Insurance In Colorado
Esurance is owned by Allstate but has completely separate auto insurance coverage and discounts. The insurer has an impressive reputation with an A- rating from the BBB and an A+ from AM Best for financial strength.
Esurance also offers discounts that could help Colorado drivers save money on car insurance, including:
- Fast 5 discount: Save five percent on your first term of coverage for starting an online quote in the car insurance buying process.
- DriveSense: Esurance's app qualifies customers for safe driving discounts.
- Fuelcaster: Get help finding cheap gas in your location.
- Coverage counselor: Complete a short survey to determine which Esurance auto insurance plans would best fit your needs before you get a quote.
- Esurance mobile app: File claims, manage the vehicles on your policy, view your insurance card, and more with the app.
- E-Star: E-star facilities mark 1,400 repair shops within the Esurance network. If you choose one of these for repairs, repairs are guaranteed for the time you own the car.
Superior financial strength rating from AM Best
Multiple apps and online tools to access your account
Customers cannot meet with agents in-person
Mixed customer service reviews
To find out more about this provider's coverage, read our complete Esurance auto insurance review.
If you are ready to compare multiple auto insurance quotes to find the best Colorado car insurance for you, enter your zip code in the tool below.
What Is The Minimum Required Colorado Car Insurance?
Every state has financial responsibility laws that dictate what type of insurance is mandatory. Most states only require liability insurance – this type covers bodily injury and property damage for other people in accidents that you cause.
In the case of Colorado, you are required to carry this minimum insurance coverage:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $15,000 property damage liability per accident
You’ll see these limits written as 25/50/15 when shopping for auto insurance in Colorado. Since these are liability coverage, they apply to other people in accidents you cause. It might sound like $25,000 is a good amount of bodily insurance coverage, but it can actually disappear pretty quickly. Bodily injury coverage pays for another party’s medical bills, lost wages, pain and suffering, and funeral costs. It can also pay for legal fees if someone sues you because of an accident.
According to the Insurance Information Institute, the average bodily insurance claim in 2018 was $15,785. Some states only require $15,000 in coverage, but the Colorado car insurance minimum gives you a bit more room. However, that’s just the average. If you happen to cause a more serious accident, you might have to pay well beyond that amount. Unfortunately, your insurance company won’t cover any more than your policy limits allow, and you’ll have to pay for the excess liability.
MedPay: Colorado Car Insurance State Suggestion
Even if you select the minimum requirements for coverage when shopping for car insurance in Colorado, you’ll notice that medical payments coverage (MedPay) is included automatically. MedPay covers your own medical costs no matter who caused the accident. Colorado auto insurance regulations require carriers to offer $5,000 in MedPay when you request a quote. If you want to go without MedPay coverage, you have to decline it in writing.
Why Does Colorado Suggest This Coverage?
Well, it all started with Colorado Senate Bill 08-011 which was passed in 2008. At that time, the legislature saw a problem with the Colorado car insurance system. Trauma health providers treated car crash victims right away but then had to wait many months to receive compensation. Compensation would be paid out when the claim was settled, but it could take months or even years for that to happen.
How Does MedPay Work?
Because of the 2008 bill, most Coloradans have at least $5,000 in MedPay. The policy only adds a few dollars to a monthly payment, but it has helped the trauma care system immensely. It can also be a lifeline for people who don’t have health insurance since they can get treatment right away.
Another nice thing about MedPay is that it doesn’t carry a deductible. People who have health insurance can even use MedPay to pay their health insurance deductible to avoid out-of-pocket costs after an accident. MedPay in Colorado also applies to anyone who is in your car at the time of the accident, whether they have a policy with MedPay or not.
Finally, health insurance companies have a right to reimbursement when you settle a bodily injury claim. For example, let’s say you were the victim in an accident and needed $10,000 in medical care. You filed a claim with the other driver’s insurance company and had to wait two years for settlement, but your own health insurance company paid for your care in the short term. After your claim was settled, your health insurance company then required you to pay back the $10,000 you received for treatment.
However, health insurance companies can’t request reimbursement from MedPay claims. So, in the scenario above, let’s say you use $5,000 from MedPay and $5,000 from your health insurer. In that case, you would still get a $10,000 settlement, but you would only have to pay back $5,000 to your health insurance company.
Other Colorado Car Insurance Coverages
Below are a few more common types of car insurance in Colorado. These options are beyond the state minimum coverage requirements, but it can be a good idea to have them.
- Collision: This pays for repairs to your car from damage caused by an accident. It can apply regardless of who is at fault. If you were not at fault in an accident, your Colorado car insurance company will seek reimbursement from the at-fault party.
- Comprehensive car insurance: This coverage pays for repairs not related to an accident. It covers fire damage, flood, vandalism, and hail, for example. Comprehensive coverage also carries a deductible. The term “full coverage” usually means the combination of liability, collision, and comprehensive coverage.
- Underinsured motorist/uninsured motorist (UIM/UM): This coverage protects you from accidents caused by someone without enough insurance or none at all. While UM/UIM technically comes in bodily injury and property damage varieties, you can only get bodily injury UM/UIM under auto insurance in Colorado. That’s because your property damage liability also covers UM/UIM claims in Colorado.
- Personal injury protection (PIP): This option covers medical bills no matter who is at fault. However, it can also cover lost wages, death benefits, and childcare costs after an accident, which MedPay doesn’t cover. PIP usually has a deductible, as well. PIP isn’t as common in Colorado today as it was before 2003 – that’s when Colorado switched from a no-fault system to a fault-based system.
Some Colorado auto insurance companies may offer extra options like:
- Gap coverage: If your car is totaled, this option covers the difference between your car’s current value and the amount you have left to pay on your loan.
- Roadside assistance plans: Many Colorado auto insurance companies can provide assistance with towing, jump-starts, spare installation, and more.
- Accident forgiveness insurance: With this option, your average rates won’t go up because of one accident. Depending on the company, you can purchase this coverage or you can receive it as a reward for multiple claim-free years.
- Rental reimbursement: This pays toward a rental car while your motor vehicle is in the shop after a covered repair. Insurance companies in Colorado can require you to have collision or comprehensive coverage to get this option.
Final Thoughts On Car Insurance In Colorado
Ultimately, the level of coverage you choose comes down to what you are most comfortable with, and the provider you select should be the one that’s best for your individual needs. We recommend getting car insurance quotes from several different companies when shopping for Colorado auto insurance.
Enter your zip code in the tool below to collect and compare car insurance quotes from providers available in your state:
In an effort to provide accurate and unbiased information to consumers, our expert review team collects data from dozens of auto insurance providers to formulate rankings of the best insurers. Companies receive a score in each of the following categories, as well as an overall weighted score out of 5.0 stars.
- Industry Standing: Insurers with strong financial ratings and customer-first business practices receive the highest scores in this category.
- Availability: We consider availability by state as well as exclusions for specific groups of drivers.
- Coverage: This rating is based on types of insurance available, maximum coverage limits, and add-on policies.
- Cost and Discounts: Our research team reviews auto insurance rate estimates generated by Quadrant Information Services for a variety of drivers in every state. Companies with lower prices and many car insurance discount opportunities receive the best scores.
- Customer Service: We comb through customer reviews and consumer feedback studies from experts like J.D. Power.
- Technology: Auto insurers with mobile apps, advanced online services and telematics are more likely to meet consumer needs.
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