BestCar InsuranceColoradoBest Car Insurance in Colorado (May 2023)
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In Colorado, American National P&C provides the best car insurance for full and minimum coverage policies, young adults, middle-aged and senior drivers, drivers with a military background and those with driving violations. Acuity offers the best customer service, while drivers of new cars should consider Kember for their insurance needs.
For individuals whose top priority is cost, we’ve also identified the cheapest car insurance in Colorado.
BestCar InsuranceColoradoBest Car Insurance in Colorado
Best Overall - American National P&C
Best for Service - Acuity
Best for Minimum Coverage - American National P&C
Best for Young Adults - American National P&C
Best for Seniors - American National P&C
Best for Driving Offenses - American National P&C
Best for New Cars - Kemper
Best for Military - American National P&C
Best Overall for Car Insurance in Colorado
The best car insurance company in Colorado for full coverage is American National P&C. Here are our top-two insurers in the state:
- American National P&C: MoneyGeek score of 93 out of 100 ($541 per year)
- GEICO: MoneyGeek score of 87 out of 100 ($759 per year)
Out of the companies we evaluated, American National P&C offers the cheapest car insurance while providing quality customer service. It also has a fair amount of coverage options to choose from.
If saving money is your top priority, MoneyGeek also looked into the cheapest full coverage auto insurance in Colorado.
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American National P&CBest Overall
Score:93
American National P&C is the cheapest insurer in the state, with an average annual premium cost of $541. It scores highest for affordability and customer satisfaction. The insurer also offers rare coverages like spare parts coverage.
More About American National P&C
American National P&C earned our ranking as the cheapest insurer in Colorado due to its affordability and customer service reputation. While it offers fewer coverage options than its competitors, some of the coverages it offers are rarely available.
Spare parts coverage, for instance, rewards drivers who are prepared by providing up to $1,000 to replace damaged spare parts if they are destroyed in a covered loss. Additionally, it offers collector car coverage, which covers vintage and antique vehicles.
Rental car and/or travel reimbursement coverage, which is included in the comprehensive and collision policy, covers the cost of a rental car if your car is being repaired after a covered accident. With roadside assistance, policyholders can rest easy knowing that they will be covered if they need a jump start, flat tire change, gas delivery, lockout service or tow.
2
American National P&C
Score:93
American National P&C is the cheapest insurer in the state, with an average annual premium cost of $541. It scores highest for affordability and customer satisfaction. The insurer also offers rare coverages like spare parts coverage.
More About American National P&C
American National P&C earned our ranking as the cheapest insurer in Colorado due to its affordability and customer service reputation. While it offers fewer coverage options than its competitors, some of the coverages it offers are rarely available.
Spare parts coverage, for instance, rewards drivers who are prepared by providing up to $1,000 to replace damaged spare parts if they are destroyed in a covered loss. Additionally, it offers collector car coverage, which covers vintage and antique vehicles.
Rental car and/or travel reimbursement coverage, which is included in the comprehensive and collision policy, covers the cost of a rental car if your car is being repaired after a covered accident. With roadside assistance, policyholders can rest easy knowing that they will be covered if they need a jump start, flat tire change, gas delivery, lockout service or tow.
3
GEICO
Score:87
GEICO is the second-best auto insurer in Colorado, due to its relatively low annual premium of $759 per year, the second-cheapest in the state. In addition to being affordable, the insurer offers excellent customer service. GEICO offers two rare coverage options: mechanical breakdown insurance and collector and classic car coverage.
More About GEICO
GEICO offers a fair amount of coverage options, including some rarely offered by other insurers. Policyholders with vintage vehicles can obtain collector and classic car coverage.
Mechanical Breakdown Insurance (MBI) from GEICO provides more coverage than typical dealer-extended warranties for a lower cost. MBI, available to new or leased vehicles with fewer than 15,000 miles or less than 15 months old, includes all parts and systems, not just the narrow list of items offered by most dealers.
With GEICO’s accident forgiveness coverage, you can also rest assured that your insurance won’t increase after your first at-fault accident. Roadside assistance coverage can also come in handy if your car breaks down — GEICO will cover the cost of flat tire changes, tows, jump starts and lockout services.
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GEICO
Score:87
GEICO is the second-best auto insurer in Colorado, due to its relatively low annual premium of $759 per year, the second-cheapest in the state. In addition to being affordable, the insurer offers excellent customer service. GEICO offers two rare coverage options: mechanical breakdown insurance and collector and classic car coverage.
More About GEICO
GEICO offers a fair amount of coverage options, including some rarely offered by other insurers. Policyholders with vintage vehicles can obtain collector and classic car coverage.
Mechanical Breakdown Insurance (MBI) from GEICO provides more coverage than typical dealer-extended warranties for a lower cost. MBI, available to new or leased vehicles with fewer than 15,000 miles or less than 15 months old, includes all parts and systems, not just the narrow list of items offered by most dealers.
With GEICO’s accident forgiveness coverage, you can also rest assured that your insurance won’t increase after your first at-fault accident. Roadside assistance coverage can also come in handy if your car breaks down — GEICO will cover the cost of flat tire changes, tows, jump starts and lockout services.
How the Best Insurers in Colorado Rank: MoneyGeek Scores and Costs
Based on data collected from 11 different insurance companies in Colorado, we found that American National P&C distinguishes itself from the competition by delivering the best overall value in terms of price, claims processing, client satisfaction and coverages offered. These features made its overall score considerably higher than the others.
However, Acuity has better customer service and claims management, but it is more than twice as expensive. American Family offers more coverage but is also more expensive and has lower customer satisfaction ratings.
MoneyGeek only ranked companies with data available for all scoring categories (i.e., affordability, claims, customer satisfaction, coverages, etc.). Therefore, companies where we have insufficient data, like Colorado Farm Bureau, are not included in our ranking.
Best Car Insurance in Colorado for Customer Service
Acuity is the best car insurance provider in Colorado for customer service, irrespective of cost. The top-two insurers for customer satisfaction are included below.
- Acuity: MoneyGeek score of 94 out of 100 ($1,331 per year)
- American National P&C: MoneyGeek score of 90 out of 100 ($541 per year)
Acuity has the highest customer satisfaction ratings among the insurers included in our study. Its claims management score is above average, and it offers a fair amount of coverage options for different types of drivers.
pros
Great scores in customer satisfaction and fair amount of coverage options
Offers full glass coverage
cons
Has the most expensive premium at $1,331 per year
Doesn’t offer accident forgiveness
Has a good score for claims management, relative to its competitors, but it could still be higher
COMPANY HIGHLIGHTS
When you get full safety glass coverage from Acuity, you won’t be responsible for the comprehensive deductible in the event that your car's windshield or windows need to be fixed or replaced. Furthermore, If your car or motorcycle is completely destroyed in a covered loss, other than a fire or theft, Acuity will pay to replace it with a brand new vehicle of a similar model. Older automobiles totaled in a covered loss are compensated at a rate of 25% more than their market value.
If you owe more on your car than it is worth, gap coverage will pay the difference between the actual value of your car and the outstanding principal balance on your loan or lease. Roadside assistance, meanwhile, covers labor costs for towing, tire changes, battery jumpstarts and other roadside emergency services.
What Makes an Insurer the Best for Customer Service?
Good customer service gives you fast and hassle-free support when you need it. Insurance providers must also be receptive to your complaints and prepared to address issues as soon as they arise. Companies that offer good customer service also provide your authorized claim payment as soon as possible
Opting for Acuity for your car insurance needs means you will pay significantly more, but this added cost comes with the knowledge that you’ll receive excellent customer service and quick claims processing.
Best Car Insurance in Colorado for Minimum Coverage
American National P&C offers the best minimum coverage auto insurance in Colorado. The top two insurance companies in this category are:
- American National P&C: MoneyGeek score of 93 out of 100 ($216 per year)
- GEICO: MoneyGeek score of 87 out of 100 ($330 per year)
American National P&C is by far the cheapest option for minimum coverage policies. It also offers superior customer service.
If you’re thinking of buying a cheap minimum coverage policy in Colorado, keep in mind that the tradeoff for its low price is lower protection. Even coverage for damage to your own vehicle is not included.
pros
Has the most affordable annual premium at $216 per year
Offers discount for bundling and early signing
Has a perfect score for affordability and the second-best score for customer satisfaction
cons
Lacks common discounts like safe driving and anti-theft system discounts
Below average claims management score
COMPANY HIGHLIGHTS
American National P&C received a perfect rating of 5 out of 5 for affordability. Additionally, the insurer offers excellent customer service and provides a fair amount of coverage options.
The caveat for the insurer’s low cost is that it only offers a few discounts, including bundling policies, insuring multiple cars and early signing. With American National P&C, you can receive a bundling discount when you enroll in multiple insurance policies, like home, auto and life insurance. Additionally, you can save on rates by insuring multiple vehicles.
The company’s early signing discount is rarely offered by other insurance providers. This discount provides a financial incentive to reapply before their existing policy expires.
What Makes an Insurer the Best for Minimum Coverage?
Insurers that provide good minimum coverage policies will have affordable rates for the coverage limits required by state law. It's a fallacy that insurers with cheap policies offer inferior customer service — you may not have to sacrifice quality for cost. An ideal minimum coverage insurance plan should be affordable and feature discount opportunities without compromising customer service.
Best Car Insurance in Colorado for Young Adults
American National P&C is the best auto insurance company in Colorado for young adults. Our rankings were based on affordability and customer service for full coverage policies for drivers in their 20s. We identified the top-two providers:
- American National P&C: MoneyGeek score of 93 out of 100 ($668 per year)
- GEICO: MoneyGeek score of 89 out of 100 ($860 per year)
For drivers in this age bracket, American National P&C strikes the best balance between cost and customer service.
Despite paying significantly less than teen drivers, young adults pay more than older drivers. However, you can still find affordable car insurance for young drivers in Colorado.
pros
Has the cheapest policy at $668 per year
Has a perfect score for affordability and customer satisfaction
cons
Ranks poorly for claims management
COMPANY HIGHLIGHTS
American National P&C is our top option for the best car insurance in Colorado for young adults due to its low cost and quality customer service. Although the insurer doesn’t offer discounts specifically for young drivers, it compensates for this by having the lowest annual premium compared to its competitors.
The insurer’s classic car insurance option is ideal for young drivers that own classic or vintage cars, as it provides liability, comprehensive, accident and other specialty coverages that safeguard your collectible vehicle. Additionally, with the insurer’s roadside assistance coverage, you can receive help around the clock in the event your car breaks down. This coverage pays for multiple services including tows, gas delivery and flat tire replacements.
Policyholders can receive a discount for applying for insurance before their existing policy expires, bundling insurance policies or insuring multiple cars.
What Makes an Insurer the Best for Young Adults?
Because insurance for young drivers typically costs more, the best insurance policy would have an affordable premium, feature age-specific discounts and provide adequate coverage.
While American National P&C doesn’t offer any discounts tailored to young drivers, it’s still our top choice because of its low cost, high customer satisfaction ratings and coverage options.
Best Car Insurance in Colorado for Seniors
American National P&C is the top auto insurance company for seniors in Colorado. The top-two insurers in this area are:
- American National P&C: MoneyGeek score of 93 out of 100 ($532 per year)
- American Family: MoneyGeek score of 88 out of 100 ($835 per year)
American National P&C is very affordable and has great customer satisfaction ratings. While rates tend to increase for drivers in their 70s, drivers in their 60s pay rates that are comparable to those in their 30s and 50s. If you hunt around, you can find affordable car insurance for seniors in Colorado.
pros
Offers the cheapest premium at $532 per year
Offers gap insurance and roadside assistance
Has a perfect affordability score and an excellent customer satisfaction rating
cons
Has a relatively lower rating for claims management
COMPANY HIGHLIGHTS
Older drivers will benefit from American National P&C's affordability and excellent customer service. Additionally, it provides necessary coverages from which everyone can profit.
Roadside assistance and rental car reimbursement are two of its available coverages that are helpful for folks who are in an accident and require assistance. When your car is being repaired after a covered accident, rental car reimbursement coverage can help offset your expenses. Roadside assistance coverage can also help you if you’re in a pinch by paying for services to address mechanical problems like a dead battery, a locked vehicle, flat tires and more.
Additionally, the insurer offers gap insurance, which helps bridge the difference in cost between what you owe and what your car is worth if it’s totaled.
What Makes an Insurer the Best for Seniors?
Seniors are among the safest drivers, but given their age, they are more likely to suffer major injuries in a collision. A good auto insurance company will provide reasonably priced premiums for full coverage policies with PIP (Personal Injury Protection). It's also preferable if they offer senior-related discounts.
Even though it doesn't provide discounts tailored to seniors, American National P&C was chosen as the best in this category due to its affordability and high customer satisfaction ratings, both of which are crucial for older policyholders.
Best Car Insurance in Colorado for Drivers With Offenses
American National P&C is the best car insurance provider in Colorado for drivers with offenses on their records. This includes DUIs, speeding tickets and at-fault accidents.
- American National P&C: MoneyGeek score of 93 out of 100 ($720 per year)
- American Family: MoneyGeek score of 90 out of 100 ($1,105 per year)
American National P&C tops the competition with its perfect score of 5 out of 5 for affordability and outstanding customer satisfaction ratings. In Colorado, the cost of your annual premiums may increase by an average of $383 after an at-fault, $229 after a speeding ticket and $487 after a DUI. That's why it's important for drivers with violations to look for cheap auto insurance in Colorado after an incident.
pros
Costs significantly less than its competitors at $720 per year
Offers roadside assistance coverage and rental car and/or travel reimbursement coverage
Has the highest rating for affordability and the second-highest rating for customer satisfaction
cons
Has a fairly poor claims management rating
COMPANY HIGHLIGHTS
American National P&C is best for those with driving violations in Colorado because it has more affordable policies than its competitors.
Drivers with existing violations may be more likely to get into accidents. With American National P&C, if you purchase comprehensive and collision insurance, rental car and/or travel reimbursement coverage is included. This pays for the cost of a rental car if your car is damaged in a covered accident and cannot be driven.
Additionally, American National P&C offers roadside assistance coverage, which covers the cost of gas delivery, jumpstarts, towing, replacing a flat tire and other emergency roadside services. Its spare parts coverage will also pay to replace your spare parts in the event of a covered loss.
What Makes an Insurer the Best for Drivers With Offenses?
Drivers with offenses are considered high-risk drivers. This high-risk status makes it more challenging for them to find insurance providers, and even if they do, they're typically charged more. The best insurers for drivers with violations will provide discount opportunities, relatively low rates and coverage options, like roadside assistance and rental car and/or travel reimbursement.
American National P&C is the frontrunner in this category because it is the least expensive, offers quality customer service and provides discount opportunities.
Best Car Insurance in Colorado for Drivers With New Cars
Kemper is our top pick for drivers with new cars in Colorado. The best insurance company for drivers with new cars will offer new car replacement or better car replacement coverage. We found that the following companies are the top-two car insurance providers in Colorado:
- Kemper: MoneyGeek score of 80 out of 100 ($1,322 per year)
- Allstate: MoneyGeek score of 78 out of 100 ($1,492 per year)
Although Kemper has the highest affordability rating, it could improve upon its customer service — the insurer received the lowest score for customer service among the insurers we evaluated. However, it does offer new car replacement coverage.
pros
Has the most affordable premiums at $1,322
Offers an new car replacement coverage as an add-on option
Scores the highest for affordability
cons
Has low customer satisfaction and claims management scores
COMPANY HIGHLIGHTS
Kemper received a perfect score of 5 out of 5 for affordability, making it the best car insurance for drivers with new cars. While it scored relatively low in other areas, it was still our top choice for its balance of cost, customer service and coverage options.
The insurer provides new car replacement coverage, which is suitable for new cars. While the majority of insurance companies only pay actual cash value, Kemper will cover the cost of repairing or replacing your car.
Additionally, it provides gap insurance, which can cover the difference between the actual cash worth of your car and the balance owed on your loan or lease. When a customer's vehicle breaks down, roadside assistance coverage provides 24/7 towing, jump starts, fuel deliveries, flat tire changes and lockout services.
What Makes an Insurer the Best for Drivers With New Cars?
It's recommended that drivers of new cars purchase a policy that allows them to safeguard their new investment. A good insurance company for drivers with new cars will offer add ons for new or better cars. Our top pick in this category, Kemper, offers reasonable premiums and covers the cost of new cars.
Best Car Insurance in Colorado for Military Drivers
American National P&C offers the best policies for drivers in Colorado with military backgrounds. Its policies cost an average of $541 per year, and the insurer received a high MoneyGeek score of 93 out of 100.
Another recommended option is USAA. Although it ranked lower than our top pick in terms of its overall score, it offers custom services that are tailored to policyholders with a military affiliation. It is also consistently the best option for military members in most states.
pros
Has relatively affordable annual premiums at $753
Offers roadside assistance and accident forgiveness coverage
Perfect customer satisfaction rating and above-average affordability score
cons
Falls short on claims management and coverage scores
COMPANY HIGHLIGHTS
USAA is tailored specifically for active and retired military personnel and their families. It’s the second-cheapest provider and ranks well for customer service.
USAA offers some of the essential coverages that many drivers, especially current and former military personnel, can take advantage of. This includes roadside assistance which covers the cost of lockout service, tire changes, gas deliveries, towing and other unexpected problems on the road. Rental car and/or travel reimbursement coverage is an add-on option that covers the cost of renting a vehicle if your car is undergoing repairs due to a covered loss.
There are also discounts specific for military personnel such as the vehicle storage discount which lets you save up to 60% on your annual premium if you store your insured car on a military base.
How to Find the Best Car Insurance in Colorado for You
Affordable premiums, excellent customer service and strong financial stability ratings are characteristics of the best auto insurance companies. MoneyGeek’s research is a great resource to find the best car insurance for your driver profile, but you may be able to find an insurer better suited for your needs by doing your own research.
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Research customer service reputations in Colorado
Using information from the J.D. Power's customer satisfaction and NAIC consumer complaint index, MoneyGeek ranked the top insurers in Colorado in terms of customer service ratings. When evaluating an insurer's service reputation, you can consult these reputable sources for information. To learn more about an insurance provider, you can also visit the website for the Colorado Department of Insurance.
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Compare quotes
MoneyGeek provided average premium costs for sample drivers in Colorado, but because insurers take a number of criteria into account when calculating premiums, your rates may differ. To get a better estimate of how much your car insurance will cost, you should compare individual rates from at least three different insurers.
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Find the coverages you want in Colorado
Some insurance companies advertise coverages and discounts on their website but only offer them in a few states. To learn more about specific coverages and discounts offered in your area, you can contact the provider directly.
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Check financial stability ratings
An insurer's financial strength rating can be used to determine whether it can fulfill its financial responsibilities to policyholders. Since the majority of auto insurance providers are large, diversified businesses, it's relatively unlikely that they won’t be able to pay a claim. However, it's important to verify this, especially if you're considering getting insurance from a small or local insurer.
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FAQs About the Best Car Insurance in Colorado
What you're looking for will determine the best car insurance in Colorado for you. We answered the most frequently asked questions to aid in your search.
What is the best way to figure out which insurer is best for me in Colorado?
Nick Rose, CFP®, CEPA®:
I wouldn't say there is a "best" insurer in the state of Colorado. Instead, I typically recommend that my clients shop around every three to four years to see if their rates are still holding up. All the top-tier names in the auto insurance space are highly rated and solvent, so it really comes down to finding the best rates. And that can change year over year, so it is best practice to shop around if you have the time and energy.
What are the best coverages to add to your car insurance policy in Colorado?
Nick Rose, CFP®, CEPA®:
My advice on the type of coverage is to ensure your underlying liability insurance meets the minimum to get an umbrella policy and then bundle an umbrella policy of $1 million+ on top of your underlying limits. Typically, I see people overpaying for higher underlying limits when the umbrella policy would kick in once the lower limits have been met.
Additionally, being in Colorado with all the variable weather we experience throughout the year, I emphasize getting comprehensive coverage to protect you if a rock or other debris hits and damages your vehicle.
About Mark Fitzpatrick
