BestCar InsuranceDenverThe Best Car Insurance in Denver, CO, for 2023
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MoneyGeek identified State Farm as the best car insurance company in Denver, Colorado. It is necessary that you consider your age, coverage level and background to find the best car insurance for your needs. MoneyGeek broke down the top-rated insurance companies for full and minimum coverage plans, young and senior drivers, those with driving violations and those with military benefits.
Drivers looking to save on auto insurance can also use MoneyGeek’s analysis of the cheapest car insurance in Denver, Colorado, to find the best fit for your needs.
BestCar InsuranceDenverThe Best Car Insurance in Denver
Overall - State Farm
Minimum Coverage - GEICO
Young Drivers - State Farm
Senior Drivers - State Farm
Driving Violations - State Farm
Military - USAA
Best Car Insurance Companies in Denver: Overall
MoneyGeek’s ranking for the best car insurance providers is based on claims rating, user satisfaction and common premiums based on different driver profiles. The analysis shows that the best car insurance companies in Denver, Colorado, are:
- State Farm: 84 out of 100
- GEICO: 84 out of 100
MoneyGeek’s ranking also discovered that USAA scored 100 out of 100, making it the best car insurance provider in Denver, Colorado. However, because the auto provider is only eligible for the military, it was excluded from the overall ranking.
The Top Car Insurance Companies in Denver
1
State FarmOverall
Score:84
State Farm scored 4 out of 5 in claims ratings, 5 out of 5 in customer satisfaction rating and 5 out of 5 for financial stability. You can enjoy the benefit of rideshare insurance. State Farm’s full coverage policy is $647 annually.
More About State Farm
State Farm earned its top rating with policy features like rideshare insurance, rental car and travel reimbursement and roadside assistance. Rideshare insurance is a unique feature of State Farm’s coverage because you receive a 15% to 25% discount on premiums.
Read MoneyGeek's State Farm auto Insurance Review2
GEICO
Score:84
GEICO scored 4 out of 5 for both claims and customer satisfaction ratings. The insurer scored even higher for stability, receiving a perfect 5 out of 5 score. The average cost for a full coverage policy is $619 per year. GEICO offers a few unique coverages including emergency roadside service, rental reimbursement and mechanical breakdown.
More About GEICO
GEICO offers coverage for when your vehicle experiences mechanical problems after the car warranty expires. Roadside assistance gives you 24/7 service coverage if your vehicle breaks down.
Read MoneyGeek's GEICO auto Insurance ReviewRESOURCES ON CAR INSURANCE IN DENVER, COLORADO
MoneyGeek evaluated the cheapest car insurance companies in Denver to help drivers who prioritize savings. Colorado drivers can analyze the following MoneyGeek resources to discover the best and cheapest options in the city:
Best Cheap Car Insurance for Minimum Coverage in Denver
Drivers looking for the cheapest insurance option can choose a policy that only includes the minimum coverage requirements for car insurance in Colorado. These requirements are set by Colorado car insurance laws.
Based on our analysis, we found that the following companies offer the best cheap car insurance in Denver:
- GEICO: 89 out of 100
- State Farm: 85 out of 100
MoneyGeek’s analysis includes criteria like different driver histories, drivers with violations and young and older drivers.
MoneyGeek’s Pick: GEICO
pros
The annual cost for a minimum coverage policy is $377
MoneyGeek claims rating of 4 out of 5
MoneyGeek user satisfaction of 4 out of 5
New vehicle discounts and rental reimbursements coverages
cons
No unique coverages offered
COMPANY HIGHLIGHTS
GEICO offers standard coverage for driver’s insurance in Denver. Rental reimbursement, mechanical breakdown and emergency road service are the standard features of the insurance policy. For the policy about rental reimbursement, GEICO provides the daily payment option that applies to the same car.
GEICO also offers 18 discount opportunities for policyholders to save money. Among these includes discounts for always wearing your seatbelt and having anti-lock brakes.
Best Car Insurance for Young Drivers in Denver
MoneyGeek identified the best insurance providers for young drivers in Denver. From the findings, the top-rated car insurance companies for young drivers in Denver are:
- State Farm: 86 out of 100
- GEICO: 80 out of 100
These scores were based on a blend of different policy coverages and driving histories for 18-year-old drivers.
A quick reminder that car insurance for young drivers and car insurance for student drivers is more expensive than the average rates because of their limited driving experience.
MoneyGeek’s Pick: State Farm
pros
The full coverage policy for young drivers is $3,291 per when they have a clean driving record
MoneyGeek claims rating of 4 out of 5
MoneyGeek customer satisfaction rating of 5 out of 5
Offers discounts on driver’s education, distant driving, good student and defensive driving
cons
No unique coverages offered for young drivers
COMPANY HIGHLIGHTS
Young drivers face high insurance coverage costs despite State Farm offering affordable rates and customer service. Student drivers with an average B grade receive insurance discounts from the insurance provider. Also, distant student and driver’s education offers young drivers below the age of 25 discounts on insurance policies.
In addition, State Farm provides young drivers with roadside assistance should their vehicle break down or need repair. For example, if your car needs replacement of the navigation system or airbag, State Farm will assist with the necessary costs. Travel expense discounts on average of $500 are credited to young drivers if their car is inoperable.
Best Car Insurance for Senior Drivers in Denver
MoneyGeek analyzed the best car insurance companies in Denver for senior drivers, ranking the results based on 70-year-old drivers with the unique policy coverage and driving record in Denver, Colorado. The scores from the analysis reveal the top insurance companies are:
- State Farm: 90 out of 100
- Nationwide: 77 out of 100
Middle-aged drivers pay less compared to car insurance for senior drivers but you can still find quality policies for affordable rates.
MoneyGeek’s Pick: State Farm
pros
The annual cost for full insurance coverage for senior drivers is $1,120
MoneyGeek claims rating of 4 out of 5
MoneyGeek customer satisfaction ratings of 5 out of 5
Safe driving, defensive driving and new vehicle discounts are present
cons
Senior drivers do not receive unique discounts
COMPANY HIGHLIGHTS
Senior drivers pay higher insurance premiums compared to middle-aged drivers. State Farm is the best option for senior drivers that seek affordable coverage and insurance discounts. For example, safe driving offers older drivers discounts for spending three years without insurance charges to their profile. In addition, car rental and travel expenses are covered for senior drivers if they choose to rent a car or incur travel expenses that exceed over 50 miles.
Best Car Insurance With a Driving Violation in Denver
MoneyGeek examined insurance companies from Denver with coverage for at-fault accidents to discover the best companies based on ages and different coverage policies. The top-rated companies in Denver, Colorado, for drivers with violations are:
- State Farm: 90 out of 100
- Allstate: 77 out of 100
Affordability is worth considering when you look for companies that offer car insurance to those with driving violations. Your car insurance rate can increase due to accidents on your driving record.
MoneyGeek’s Pick: State Farm
pros
A 40-year-old driver can receive a full coverage policy for $1,335 per year
MoneyGeek claims rating of 4 out of 5
MoneyGeek customer satisfaction of 5 out of 5
Offers seven out of nine discounts available
Offers safe driving and defensive driving discounts
cons
No accident forgiveness coverage
COMPANY HIGHLIGHTS
Denver drivers can rely on State Farm for the best insurance cover if they have driving violations. The affordability of State Farm coverage makes it ideal for drivers who often experience at-fault accidents.
State Farm offers safe driving and defensive driving discounts. Drivers who do not incur charges on their insurance for three consecutive years are eligible for the safe driving discount. Also, drivers with violations receive a discount for completing the defensive driving course.
Best Car Insurance With a Military Background in Denver
USAA is the best car insurance option for drivers with military backgrounds in Denver, Colorado. The insurance company covers affordability and customer satisfaction.
MoneyGeek’s analysis shows USAA scored 100 out of 100 based on criteria like unique coverage offerings, driver history, young drivers, senior drivers and those with driving violations.
The availability of USAA auto-insurance is limited to members with military backgrounds and veterans. MoneyGeek did not include USAA because of its eligibility requirement.
MoneyGeek’s Pick: USAA
pros
A 40-year-old driver can receive an annual full coverage policy for $686
MoneyGeek claims rating of 5 out of 5
MoneyGeek customer satisfaction of 5 out 5
Offers five out of nine of common discounts, including those for the military, vehicle storage, mileage, multiple car and legacy.
cons
Only those with a military background are eligible
Mechanical breakdown and new car replacement aren’t available
COMPANY HIGHLIGHTS
USAA ranks as the best car insurance provider in Denver, Colorado. Affordability and high customer service ratings make the company the ideal option for car insurance. Roadside assistance, rental car or travel reimbursements, accidental forgiveness and rideshare are covered by USAA.
USAA covers five out of the nine common discounts offered by insurance companies. These include bundling, good student, multiple-car, defensive driving and safe driving discounts. If you own a car that is less than three-years old, USAA offers a new vehicle to help you save on costs. Also, USAA promotes savings through vehicle storage that lets you save up to 60% if you insure a stored vehicle.
Methodology
MoneyGeek evaluated car insurance companies in Denver, Colorado, based on data from industry leaders like J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC).
MoneyGeek’s analysis of different driver profiles was based on the following weighted criteria to identify the best car insurance in Denver, Colorado:
- Affordability (70%): MoneyGeek investigated the available auto insurance providers in Denver to discover the premium costs for different companies. The insurance company in Denver with the cheapest rate, received a perfect score of five out of five.
- Claims rating and customer satisfaction (20%): MoneyGeek examined customer satisfaction levels using data from J.D. Power to measure the level of service and claims offered by insurance providers. Each sub category was weighted equally at 10%.
- Financial stability (10%): AM Best provided data ratings used to study the financial stability of insurance providers. This is a good indicator of a company’s ability to fulfill customer claims.
MoneyGeek scored individual categories based on a five-point scoring system and used these to generate an overall score out of 100 for each company. The scores collected from the insurance companies covered age, level of coverage and driving record, among others. MoneyGeek changed the driver profile as appropriate for each category.
Unless otherwise stated, the following coverage limits were used in our analysis:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability.
- Comprehensive and collision coverage with a $1,000 deductible
You can find more information about the rating and score system from MoneyGeek’s car insurance methodology.
About Mark Fitzpatrick
