The Best Car Insurance in Colorado for 2022
The top car insurance companies balance customer satisfaction, financial stability and affordability. GEICO offers the best insurance in Colorado as it ranks first for affordability, claims and stability, and came in second for user satisfaction.
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GEICO is the best insurer in Colorado as per MoneyGeek’s analysis, but the best option for you will depend on what you are looking for. We evaluated the best options with a focus on individual factors such as customer service, cost-effectiveness and more.
You can also find the best cheap car insurance options in Colorado irrespective of service quality.
The Best Car Insurance in Colorado
Best Car Insurance Companies in Colorado: Overall
MoneyGeek graded the best car insurance companies in Colorado on the basis of claims ratings, user satisfaction and cost.
Based on this, the two best car insurance providers in Colorado are:
- GEICO: MoneyGeek score of 4.2 out of 5
- State Farm: MoneyGeek score of 4.2 out of 5
USAA is excluded from this analysis, but it received a MoneyGeek score of 5 out of 5 and is the best car insurance for active-duty military members or veterans.
The Top 5 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.
GEICO offers Mechanical Breakdown Insurance (MBI) for cars that are less than 15 months old and have been driven for less than 15,000 miles. The insurer’s MBI covers parts that may not be included in a typical dealer warranty. GEICO also offers accident forgiveness to keep your rate from increasing after your first accident.Read MoneyGeek's GEICO auto Insurance Review
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.
State Farm’s rideshare insurance provides medical coverage, emergency roadside assistance and rental car reimbursement for Lyft and Uber drivers. In addition, this company offers roadside assistance and rental reimbursement as standalone coverage add-ons.Read MoneyGeek's State Farm auto Insurance Review
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.Read MoneyGeek's Travelers auto Insurance Review
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.Read MoneyGeek's Allstate auto Insurance Review
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.Read MoneyGeek's Nationwide auto Insurance Review
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:
Compare the Best Insurance Options in Colorado
While the best car insurance in Colorado factors in cost, quality of service and financial stability, you must also look for the best combination that suits your requirements and consider whether the insurer offers coverage that you need.
MoneyGeek allows you to compare the best insurers in Colorado and read our in-depth reviews.
Car Insurance Comparison Tool
Best Car Insurance in Colorado for Customer Service
MoneyGeek scored the best insurance companies in Colorado based on just claims ratings and user satisfaction, without considering costs.
The two best insurers based on these criteria are:
- State Farm: MoneyGeek score of 4.6 out of 5
- Liberty Mutual: MoneyGeek score of 4.2 out of 5
The Top 2 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 chosen limits and travel expenses (meals, lodging and transportation) up to $500. You also get repayment of the deductible up to $500 if you are responsible for an accident in your rental car.Read MoneyGeek's State Farm auto Insurance Review
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 offers better car replacement coverage. With this 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 coverage that allows you to replace any damaged parts to 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.Read MoneyGeek's Liberty Mutual auto Insurance Review
Best Car Insurance in Colorado for Drivers on a Budget
If you are looking for a car insurance policy in Colorado that only meets the minimum requirements of the state, using MoneyGeek’s scores can help you secure the best rates. The companies with the highest scores blend affordability with quality service.
The top car insurance companies in Colorado for drivers on a budget are:
- State Farm: MoneyGeek score of 4.3 out of 5
- GEICO: MoneyGeek score of 4.3 out of 5
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 various discounts for airbag installations, anti-theft measures, insuring multiple vehicles with the company and safe driving. These aspects are valued by the insurer, allowing for discount opportunities for policyholders.
Best Car Insurance in Colorado for Poor Driving Records
MoneyGeek rated the best car insurance companies in Colorado based on the cost for drivers with an at-fault accident seeking high-quality customer service.
The top two companies in the state based on these criteria are:
- State Farm: MoneyGeek score of 4.5 out of 5
- GEICO: MoneyGeek score of 4.1 out of 5
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 reimbursement
Does not provide accident forgiveness or new car replacement
State Farm offers the best car insurance policies for drivers with a poor record. 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: This 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: 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 5 out of 5 across all categories. It charges an average of $295 per year for a minimum car insurance policy in the state and $997 per year for military drivers with an at-fault accident on their record.
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 best reputations in the country.
Some of the coverages and discounts offered by USAA include:
- Accident forgiveness coverage: If you get involved in your first at-fault accident within five years, you will not be charged an additional premium on your car insurance.
- 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 Young Drivers and Students
The top two providers in the state are:
- Allstate: MoneyGeek score of 4.4 out of 5
- State Farm: MoneyGeek score of 4.1 out of 5
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
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.
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 Those With New Cars
MoneyGeek ranked the best insurers in Colorado on the basis of companies 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 stipulated 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.
The company with the highest rating in this category is Travelers, with a MoneyGeek score of 3.9 out of 5.
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 new 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.
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.
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 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.
How to Find the Best Car Insurance in Colorado in 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:
MoneyGeek collected car insurance rates in Colorado in partnership with Quadrant Information Services. These calculations were based on the driver and policies as described on MoneyGeek’s cost methodology page.
Customer satisfaction, financial strength and claims satisfaction scores were derived from AM Best, J.D. Power and the National Association of Insurance Commissioners (NAIC). The list of discounts and coverages were collected from each insurer’s website.
About the Author
- Colorado Department of Regulatory Agencies (Division of Insurance). "Auto Insurance in Colorado." Accessed September 21, 2021.