The Best Car Insurance in Colorado
You can also find the best cheap car insurance options in Colorado, irrespective of service quality.
Best Full Coverage Car Insurance Companies in Colorado: Overall
The two best car insurance providers in Colorado are:
- GEICO: MoneyGeek score of 84 out of 100 (approximately $872)
- State Farm: MoneyGeek score of 84 out of 100 (approximately $1,158)
USAA is excluded from this analysis, but it received a MoneyGeek score of 100 out of 100 and is the best car insurance for active-duty military members or veterans.
MoneyGeek ranked the best car insurance companies in Colorado based on claims ratings, user satisfaction and cost. If you want to reduce your premiums, MoneyGeek determined Colorado's cheapest full coverage auto insurance.
THE TOP CAR INSURANCE COMPANIES IN COLORADO
At $872 per year, GEICO ranked first for affordability and is tied in the first position for claims and stability. It is tied for second place for user satisfaction. The insurer offers mechanical breakdown insurance.
Average Annual Cost: $872
GEICO offers Mechanical Breakdown Insurance (MBI) for cars that are less than 15 months old and have been driven fewer than 15,000 miles. The insurer’s MBI covers parts that may not be included in a typical dealer warranty. You can also earn or purchase GEICO accident forgiveness coverage to avoid a premium increase after your first collision for which you are at fault. You are eligible for accident forgiveness if you are at least 21 years old and have been accident-free for at least five years.
Additionally, GEICO provides roadside assistance, car rental and trip reimbursement. With roadside assistance, policyholders are protected against the cost of lockout service, towing and tire replacement. After a covered loss, if your vehicle is inoperable for more than 24 hours, you are compensated for a rental car.
State Farm ranked first for customer satisfaction and third for affordability. It is tied in the first position for claims and stability. The company’s policy costs $1,158 on average per year. State Farm offers rideshare insurance.
Average Annual Cost: $1,158
While working for a ridesharing company, having the rideshare insurance add-on from State Farm guarantees that your auto insurance policy's coverage for medical expenses, roadside assistance and rental car reimbursement will remain in effect. Your auto insurance coverage kicks in as soon as the app is opened and you are ready to pick up a passenger.
In addition, this insurance provider gives customers the option to purchase standalone policy add-ons such as roadside assistance and rental car reimbursement. Roadside assistance pays for mechanical labor for up to one hour at the place of its breakdown, towing, delivery of gas, oil, battery or change of tire and locksmith costs. Rental car reimbursement pays for car rental expenses up to chosen limits, travel expenses and up to $500 for the repayment of your deductible if you are in an accident in your rental vehicle.
At an average cost of $1,039 annually, Travelers ranked second for affordability and is tied in the first position for stability and claims. However, its user satisfaction score is tied for fifth place. This company gives Colorado drivers the option to purchase rideshare insurance.
Travelers offers rideshare insurance only in Colorado and Illinois. This coverage can help protect individuals who drive for transportation network companies when a ridesharing app is turned on but ends when the driver connects with a passenger. The insurer also provides new car replacement coverage that pays to replace your car with one of the same make and model if you total your new car in the first five years.
With an annual cost of around $1,185, Allstate came in fourth for affordability and is tied in the first position for claims. The company ranks fourth for stability and second for user satisfaction. It gives policyholders the option of custom parts coverage.
With Allstate, you get custom parts coverage which provides coverage for a loss of custom equipment. Examples include special carpeting, bars, height-extending roofs, custom murals, decals and graphics. It also provides portable electronics and media coverage, covering the loss of compact discs or similar items used with an auto sound system.
At an average of $1,214 per year, Nationwide ranked fifth for affordability. It also ranked fourth for stability and seventh for both user satisfaction and claims. Nationwide provides identity theft coverage, which many competitors do not offer.
The company offers identity theft coverage. With this coverage, if you or anyone in your household are a victim of identity theft or fraud, the insurer’s Identity Theft Expense Reimbursement program pays up to $25,000 for expenses. It also provides a total loss deductible waiver. If your car is declared a total loss after an accident, the insurer will pay the deductible for your comprehensive and collision insurance.
MoneyGeek determined the best full coverage car insurance in Colorado by evaluating numerous full coverage policy quotes for a sample driver across various providers. We also considered user satisfaction and claims scores from NAIC and J.D. Power.
Average rates in Colorado may differ substantially depending on your background. You can read MoneyGeek’s methodology for more information.
MoneyGeek's Colorado Car Insurance Resources:
Best Car Insurance in Colorado for Customer Service
The two best car insurance companies in Colorado for customer service are:
- State Farm: MoneyGeek score of 91 out of 100
- Liberty Mutual: MoneyGeek score of 85 out of 100
To find the best auto insurers for customer service, MoneyGeek scored providers in Colorado based only on claims ratings and user satisfaction scores. Cost was not considered.
THE TOP TWO CAR INSURANCE COMPANIES IN COLORADO FOR SERVICE QUALITY
State Farm has perfect user satisfaction and stability scores of 5 out of 5. It is also tied in the second position for claims, with a score of 4 out of 5. State Farm offers one of the cheapest car insurance policies in Colorado, which means you get affordable rates without sacrificing quality.
The company provides rental car or travel reimbursement, which pays for car rental expenses up to your chosen limits and travel expenses (meals, lodging and transportation) up to $500. If you are found to be responsible for an accident while driving a rental automobile, you will receive reimbursement of the deductible, up to a maximum of $500.
In addition, State Farm policyholders have the option to purchase rideshare insurance. Drivers for ridesharing businesses such as Uber and Lyft have access to roadside and medical assistance. State Farm is an excellent choice if you want an insurer that places a premium on customer service. In dire circumstances, it is best to work with a provider that can promptly handle your claims.
The company has a claims score of 4.5 out of 5, which is the highest among all companies analyzed by MoneyGeek. With scores of 4 out of 5 for both user satisfaction and stability, it is tied in the second and third positions for these factors, respectively.
Liberty Mutual, like all other insurance providers, covers conventional coverages. This includes liability, comprehensive and collision insurance. The insurer stands out for providing all of the most typical supplemental coverages, including roadside assistance, rental car and travel reimbursement, accident forgiveness, new car replacement, gap insurance, deductible adjustment and better car replacement.
With better car replacement coverage, the company pays for a replacement vehicle that's one model year newer than yours if your vehicle is totaled. It also provides original equipment manufacturer (OEM) coverage that allows you to replace any damaged parts of your vehicle with parts that meet the highest quality standards. If original manufacturer parts are not available for your vehicle, the insurer will use comparable or reconditioned parts.
Best Car Insurance in Colorado for Minimum Coverage
If you are looking for affordable car insurance, the top car insurance companies in Colorado for drivers on a budget are:
- State Farm: MoneyGeek score of 87 out of 100 (approximately $558)
- GEICO: MoneyGeek score of 86 out of 100 (approximately $373)
State Farm ranked the best companies for drivers on a budget by identifying providers offering the best balance of cost and quality service for state minimum car insurance. To assist you in your search, MoneyGeek has compiled a list of firms that offer cheap minimum car insurance policies in Colorado.
MoneyGeek’s Pick: State Farm
Affordable average minimum coverage rate of $558 per year
Offers discounts for bundling car insurance with other types of insurance
Offers a new vehicle discount that provides savings on medical payments coverage
MoneyGeek user satisfaction score of 5 out of 5
MoneyGeek claims score of 4 out of 5
Does not offer discounts on paperless billing
Does not provide pay-in-full discounts
State Farm offers the best policies at the lowest possible rates for the state's required minimum coverage in Colorado. State Farm offers various discounts for airbag installations, anti-theft devices, insuring multiple vehicles with the company and safe driving. These factors are valued by the insurer, allowing for discount opportunities for policyholders.
With the additional roadside assistance coverage offered by State Farm, drivers are eligible to receive reimbursement for a variety of services. These can include mechanical labor, towing, the supply of gasoline or batteries and the repair of tires. Better yet, if you misplace, lose or lock your car key inside your vehicle, you could be eligible to receive up to an hour's worth of free assistance from a locksmith.
Best Car Insurance in Colorado for Young Drivers and Students
The top car insurance companies for young drivers and students in Colorado are:
- Allstate: MoneyGeek score of 87 out of 100
- State Farm: MoneyGeek score of 82 out of 100
MoneyGeek classified the best providers for young drivers in Colorado by comparing average rates of car insurance for young drivers and students while also considering the quality of service. To assist you in reducing your monthly spending, MoneyGeek has compiled a list of the cheapest car insurance for young drivers and students in Colorado.
MoneyGeek’s Pick: Allstate
Affordable option for adding young drivers at an average of $2,178 per year
Offers discounts to good students, distant students and for completing a driver’s education course
User satisfaction score of 4 out of 5
Claims score of 4 out of 5
Does not offer common discounts like multiple car or defensive driving
Buying insurance for young drivers can be expensive, but Allstate offers reasonable options while providing great service. Good customer service is important for young drivers since filing a claim can be a nerve-wracking experience, and timely support can make the process easier. According to the research conducted by MoneyGeek, Allstate is the best insurance provider for first-time drivers, new drivers and students. It gives the most reasonable rates for young drivers and offers discounts for distant students.
Allstate offers several benefits to students, such as a good student discount for students with good grades. It also provides a distant student discount which provides discounts for a student attending school at least 100 miles away from home. The insurer also offers a discount for drivers who have completed a driver education program.
Best Car Insurance in Colorado for Seniors
MoneyGeek assessed the best auto insurance companies for seniors in Colorado based on price and customer service. These are the top two choices:
- State Farm: MoneyGeek score of 94 out of 100 (approximately $1,127 per year)
- Allstate: MoneyGeek score of 86 out of 100 (approximately $1,159 per year)
According to MoneyGeek's rating system, these insurers received top scores for balancing affordability and service quality. If you're trying to save money, MoneyGeek has compiled a list of affordable auto insurance companies for Colorado seniors.
MoneyGeek’s Pick: State Farm
A budget-friendly choice for seniors at $1,127 per year
Perfect ratings for financial stability and customer satisfaction
Includes a defensive driving discount
No accident forgiveness, new car replacement, gap insurance, deductible modification or better car replacement coverage
No unique coverages are provided, like OEM
Doesn’t offer any senior discounts
Since premiums for auto insurance are typically higher for elderly citizens, drivers who are 65 and older may be relieved to learn that State Farm provides affordable rates. MoneyGeek determined that State Farm is the best option for seniors because it provides excellent customer service and reasonable premiums.
You have the option of including coverage for travel reimbursement and rental car expenses in your policy with State Farm. This protection will pay for all of your travel expenses, including hotel, meals and transportation. If you are found to be responsible for a road accident, you may be eligible for reimbursement of your deductible and up to $500 in additional damages, depending on the limits you have selected for your policy.
Best Car Insurance in Colorado for Bad Driving Records
If you have a poor driving record, the best auto insurance companies in Colorado are:
- State Farm: MoneyGeek score of 90 out of 100 (approximately $1,344)
- GEICO: MoneyGeek score of 82 out of 100 (approximately $1,501)
MoneyGeek found that these two companies offer the best balance of quality service and affordability for drivers with an at-fault accident on their record. MoneyGeek also researched the cheapest auto insurance in Colorado for drivers with a DUI or a poor driving record, just in case you need help with your search.
MoneyGeek’s Pick: State Farm
Cost of a policy after an at-fault accident is $1,344 per year on average
MoneyGeek user satisfaction score of 5 out of 5
MoneyGeek claims score of 4 out of 5
Provides coverage for roadside assistance and for rental car and travel reimbursementOLD PAGE
Does not provide accident forgiveness or new car replacement
State Farm offers the best car insurance policies for drivers with poor records. The policy costs an average of $1,344 per year. The company has a customer satisfaction rating of 5 out of 5 and a claims rating of 4 out of 5.
State Farm offers the following coverages if you get into an accident:
- Roadside Assistance: State Farm’s roadside assistance coverage includes mechanical labor for up to one hour at the place of vehicle breakdown, towing to the nearest repair shop, delivery of gas, oil, battery or change of tire and locksmith labor.
- Rental Reimbursement: This coverage pays for car rental expenses up to chosen limits, travel expenses (meals, lodging and transportation) up to $500 and repayment of up to $500 of your deductible if you are responsible for an accident in your rental car.
Best Car Insurance in Colorado for a Military Background
As per MoneyGeek’s analysis, USAA is the best car insurance company in Colorado for current and former military members. The insurer has a score of 100 out of 100 overall. It charges an average of $295 per year for a minimum car insurance policy in the state and $695 per year for military drivers who want a full coverage policy.
MoneyGeek’s Pick: USAA
Affordable policy for military drivers with bad records, at an average of $997 per year
Claims rating score of 5 out of 5
User satisfaction score of 5 out of 5
Accident forgiveness coverage
Safe driving discount
USAA policies are available only for military members and their families
USAA offers the cheapest policies as well as the best service in Colorado. The company has one of the top reputations in the country.
Some of the coverages and discounts offered by USAA include:
- Accident Forgiveness Coverage: If you don’t get involved in your first at-fault accident in five years of being a policyholder, you will not be charged an additional premium on your car insurance once you do get in your first accident.
- Rideshare Gap Insurance: Your existing insurance policy might not include coverage for Lyft and Uber drivers. You can get this coverage with a USAA policy.
- Multiple Car Discount: You will be eligible for a discount if you insure more than one car through USAA.
- Mileage Discount: Depending on the distance you drive each year, you may be eligible for a discount on your premium.
Best Car Insurance in Colorado for Those With New Cars
Travelers is the best car insurance company in Colorado for drivers with new cars, with a MoneyGeek score of 80 out of 100 (approximately $1,039 annually).
MoneyGeek identified the best insurers in Colorado for new cars based on providers that have high ratings and offer a form of new car replacement or better car replacement.
New car replacement coverage pays for the cost of replacing your car with a similar model should it get damaged within a certain period of time. If your insurer offers better car replacement coverage, you can get a newer model of your damaged car. You must keep in mind that this coverage is not part of your standard policy, so you will need to pay more for it.
MoneyGeek’s Pick: Travelers
Affordable policies costing an average of $1,039 per year
Offers new car replacement coverage
Claims score of 4 out of 5
User satisfaction score of 3.5 out of 5
Does not provide better car replacement coverage to its customers
Travelers is an ideal option for drivers thanks to its new car replacement coverage. Your vehicle starts losing value as soon as it’s driven off the lot, and this coverage helps you get a new car if you have an accident within a stipulated time after buying one.
The Travelers Premier New Car Replacement policy provides you with the additional protection you require. Travelers covers the replacement cost of your new car if you total it within the first five years. With this coverage, your car will be replaced with a new one of the same model and make. If you are looking for an insurance provider that can provide you peace of mind, Travelers is a good choice to consider.
Best Car Insurance in Colorado for Low-Mileage Drivers
Many insurers offer pay-per-mile car insurance coverage for drivers. This means that the cost of your car insurance will depend on the number of miles you drive. Nationwide SmartMiles is the best pay-per-mile program in Colorado. For more options on the cheapest low-mileage insurance, check our guide.
MoneyGeek’s Pick: Nationwide
Nationwide SmartMiles offers affordable coverage for low-mileage drivers
This coverage might turn out to be more expensive than a regular car insurance policy if you drive regularly
MoneyGeek claims rating of 3.5 out of 5
MoneyGeek user satisfaction rating of 3.5 out of 5
Nationwide’s pay-per-mile program in Colorado is called Nationwide SmartMiles. It offers a base rate as well as a variable rate depending on the number of miles you drive. It also provides an exception for road trips in which only the first 250 miles count in a single day. SmartMiles takes into consideration a behavior element, which can earn you up to 10% off your premiums based on safe driving.
People who don't put a lot of miles on their cars can take advantage of Nationwide's competitively priced insurance, which is one of the company's many strengths. However, it may not be suitable for everyone. MoneyGeek discovered that Nationwide's standard auto insurance premiums are more expensive for frequent drivers in the state of Colorado.
How to Find the Best Car Insurance in Colorado For You
If you are looking for the best car insurance in Colorado, you must find an insurer that provides a balance of quality of service, affordable pricing and financial stability.
MoneyGeek analyzed the best providers in the state based on these factors, but you can also take a look for yourself.
Research customer service reputations in Colorado
MoneyGeek analyzed car insurance quotes from various providers using a sample driver profile and used these alongside NAIC complaint ratios and customer satisfaction scores from J.D. Power to determine the best insurers in Colorado. Apart from MoneyGeek’s suggestions, you can also refer to the scores from J.D. Power and NAIC to determine the best insurer that suits your requirements. You can also check the state’s auto insurance website for more information.
Compare quotes for yourself
While MoneyGeek compared quotes from various locations in Colorado using a sample driver, the analysis does not cover the entire state. To get a better understanding of the costs and get the best coverage, it is advisable to compare quotes from at least three insurance companies.
Make sure the company has the coverages you want in Colorado
Before finalizing a car insurance policy, determine if the insurer provides the discounts and coverages that you need. Some insurers may advertise a certain discount or coverage but may not specify whether it is offered in Colorado.
Double-check financial stability ratings
One of the factors to check before deciding on an insurance company is its financial strength. Generally, large insurance companies are more stable, meaning that they are more likely to pay out on claims. Regional insurance providers in Colorado may have lower financial stability scores.
FAQs About the Best Car Insurance in Colorado
Car insurance costs in Colorado depend on the type of coverage you are looking for. Some of the most common questions asked about car insurance in the state are as follows:
Expert Advice: Finding the Best Auto Insurance in Colorado
- What is the best way to figure out which insurer is best for me in Colorado?
- What are the best coverages to add to your car insurance policy in Colorado?
Co-Founder & Financial Consultant at TrailWise Financial Partners
About Mark Fitzpatrick
- Colorado Department of Regulatory Agencies (Division of Insurance). "Auto Insurance in Colorado." Accessed September 21, 2021.