Best car insurance companies in Colorado
To find the best policy companies in Colorado, Bankrate ’ s column team reviewed several facets of each carrier, including 2021 average quoted premiums provided by Quadrant Information Services, coverage offerings, available discounts and third-party rankings from sources such as J.D. Power claims atonement and fiscal force ratings from AM Best, Standard and Poor ’ south and Moody ’ mho. After analyzing how each company stacks up along these scales, we calculated a Bankrate Score on a 5.0 point scale, indicating a supplier ’ second overall competitiveness proportional to early clear insurers. If you are looking for the best car insurance in Colorado, you may want to consider a quote from the following five major car policy companies, which include Geico, State Farm, Progressive, American Family and Allstate :
| Car insurance company | Bankrate Score | Average annual full coverage premium | J.D. Power customer satisfaction score (Southwest region) |
|---|---|---|---|
| Geico | 4.7 | $1,106 | 829/1,000 |
| State Farm | 4.7 | $1,696 | 847/1,000 |
| Progressive | 4.4 | $3,024 | 835/1,000 |
| American Family | 4.3 | $1,909 | 850/1,000 |
| Allstate | 4.0 | $1,711 | 822/1,000 |
Geico
Geico is known for offering low premiums, and the ship’s company ’ sulfur average rates in Colorado are no exception. however, it may be worth noting that Geico offers fewer coverage options compared to other major carriers, meaning its policies may be better suited for Colorado drivers seeking basic coverage. Geico offers a generous list of discounts to help you save extra money on your policy, which could make up for its restrict add-ons, if budget is your primary business. While the company scored slenderly lower than the Southwest industry average in the 2021 J.D. Power Customer Satisfaction Study, it did earn a high Bankrate Score of 4.7 out of 5. Learn more: Geico Insurance review
State Farm
State farm remains the largest car insurance company in the U.S. with 16.2 % market share. The company has hundreds of exclusive local agents throughout communities across Colorado, so if you prefer to handle your policy needs in-person, State Farm may be a full choice. State Farm has on-line and mobile app capabilities for digital policy management, but it scores barely below industry average in the 2021 J.D. Power Digital Experience Study for service. however, State Farm offers a entire lineage of indemnity products, including car, home and life insurance, making it a good choice for one-stop insurance patronize. The party besides offers bank services as an extra fringe benefit. Learn more: State Farm Insurance review
Progressive
progressive ’ mho average full coverage premium is the highest on our list, but the car insurance ship’s company offers respective perks that could make its high average premium worthwhile. If you want to have all your insurance products with one mailman, Progressive may be a good option to consider. The company offers an categorization of product lines in addition to car indemnity, including home policy, occupation insurance and even segway policy. however, Progressive did receive below-industry-average scores from J.D. power for both customer gratification and claims service. This indicates former customers may have felt the service they received from Progressive was lacking. Learn more: Progressive Insurance review
American Family
American Family is known for its high-quality customer servicing, earning the highest overall customer atonement military rank in the 2021 J.D. Power Southwest Region Study. For claims gratification, American Family ranked above the industry average in the 2021 J.D. Power Auto Claims Satisfaction Study. In summation to incontrovertible customer experience scores, American Family ’ s car insurance policies can be fabulously personalized, with options like ridesharing coverage, classic car indemnity and roadside aid available to help you tailor your coverage to your needs. The company besides offers several discounts that could lower your premium. While it offers batch of benefits, American Family ’ randomness Bankrate Score is not amongst the highest of the “ best car insurance ” companies on our Colorado list. however, the company is financially potent and carries an A ( Excellent ) fink from AM Best. Learn more: american english Family Insurance review
Allstate
Allstate offers several options to personalize your car policy policy for greater fiscal security, including accident forgiveness, sound organization equipment coverage and ridesharing coverage. The company ’ mho premiums are the second-highest on our tilt on average, and it received the lowest Bankrate Score amongst the five companies we rated as “ best ” in Colorado. however, the company offers several discounts that may help you save on your policy, specially if you choose to have your home policy through Allstate, ampere well. Learn more: Allstate Insurance review
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Average car insurance cost in Colorado
For car policy, Colorado drivers pay an modal annual premium of $ 518 for minimum coverage and $ 2,016 per year for full coverage, according to 2021 rate data from Quadrant Information Services. Compared to the 2021 nationally average annual premium of $ 1,674 for broad coverage, Colorado ’ second average rates are 20 % higher. however, minimum coverage in Colorado is about 8 % less than the national average of $ 565 per year. Although many factors contribute to Colorado ’ s higher average for full coverage rates, one may be the general increasing vogue of fatal accidents in the Centennial State. Since 2011, the number of fateful collisions in Colorado has increased steadily, up to 633 incidents in 2021 from about 400 in 2011.
car policy rates are determined using more than a twelve risk-assessment factors. In Colorado, these factors include the aircraft carrier you choose, make and model of your vehicle, coverage types and deductibles, geographic placement including your specific ZIP code, historic period, occupation, marital status, insurance-based credit score and your driving history. Since so many personal factors affect your car policy rates, your premium will probably be different than the average Colorado car indemnity rates .
How to find the best car insurance in Colorado
Each driver may require specific coverage types that may influence their decision on which car indemnity company is best for their needs. When you ’ re deciding which supplier will work dependable, you may want to take into account the following considerations .
Consider minimum insurance requirements in Colorado
closely every state requires drivers to hold at least a minimum sum of liability insurance coverage. Colorado cable car insurance laws mandate that each driver hold a sealed sum of bodily injury and property damage coverage types. mandate limits are listed on the Colorado General Assembly web site .
Consider lender requirements
Although you can drive legally with barely the minimal amounts of coverage, most indemnity experts recommend purchasing higher levels of coverage as a fiscal safeguard against a dearly-won personnel casualty. If you cause an accident, your insurance will lone pay up to your policy limits. If you have state minimum coverage and the damages you cause are greater than your policy limits, you will be responsible for the overage out-of-pocket. These costs can quickly add up to thousands of dollars and could be financially devastating to you and your family. You may besides want to consider full coverage insurance, which broadly includes optional comprehensive and collision coverage. These coverage types provide fiscal auspices for wrong to your own vehicle, ampere well as larceny, vandalism and weather-related losses. If you have a loanword or lease on your car, your lender will probable require you to carry entire coverage. You could besides purchase gap insurance to help cover the difference between what your fresh car is deserving and what you still owe on it after a claim payout, in the event it is totaled .
Consider driver risk impacts
car indemnity rates are personalized to each driver, depending on risk factors such as where you live, the car you drive and your motive vehicle history. Everyone brings a singular set of circumstances to their search for car insurance. possibly you have a car lend, which means you will likely need fully coverage policy. If you have a adolescent driver, you may benefit from scholar discounts that help combat the higher premiums insurers typically charge for youthful adults. Whatever your specific site, you may want to look for companies that are suited to your needs .
Car insurance discounts in Colorado
Carriers typically offer multiple car indemnity discounts to Coloradans, but note that accurate discounts and handiness will vary from ship’s company to party. common discounts that many car insurers offer include :
- Young driver discounts: If you have a young driver to insure, they may qualify for several different discounts. This includes good student discounts (maintain an “B” average in high school or college), student away at school discounts and driver education discounts.
- Safe driver discounts: Proving that you’re a safe driver may save you money on your car insurance. If you exhibit safe practices through a usage-based telematics program, which monitors your driving habits, or if your vehicle has safety features like anti-lock brakes or side curtain airbags, you may qualify for a discount.
- Other discounts: If you bundle more than one insurance policy type with the same company, such as home and auto insurance, you may qualify for a discount on both policies. If you have more than one car, you may be able to earn a multi-vehicle discount by insuring both cars with the same company.
Every company offers unlike types and levels of discounts and has varied eligibility requirements, so the best way to make sure you are utilizing all the discounts that you qualify for is to talk to a licensed indemnity professional such as your policy agentive role or your insurance company ’ randomness customer service example .
Frequently asked questions
What is the cheapest car insurance company in Colorado?
According to Bankrate ’ s research, the cheapest car indemnity companies in Colorado include American National, Geico and Grange. While these companies offer the cheapest average premiums in Colorado, the cheapest company for you may be different based on your unique characteristics. Some companies may place more system of weights on your driving history when calculating your bounty, while others might care more about your claims history. One company might offer a greater numeral of discounts that apply to you. For these reasons, you may want to request quotes from respective different car indemnity providers to find the cheapest option for you .
What do I need to get car insurance in Colorado?
Although every ship’s company is different, you will need to provide some basic information to get an car policy quote. Auto insurers will typically ask for the name, date of birth, VIN and driver ’ s license number for all the drivers in your family. If you have an active car policy policy, it might be helpful to have your declarations page handy while you are requesting quotes, as most of the necessary information that insurers will need to generate a quotation mark is summarized on this page ( typically found at the battlefront of your policy policy ) .
How quickly can I get car insurance in Colorado?
If you have all of your documentation together and no major negative marks on your drive phonograph record, you may be able to get car coverage the same day you request a quote. however, allowing yourself time to shop your coverage with several companies is best for finding the right fit. The Insurance Information Institute ( Triple-I ) recommends getting a minimum of three quotes from a desegregate of national and regional insurers to compare coverage options and costs .
What is the difference between minimum coverage and full coverage?
minimum coverage refers to the least amount of coverage required by each express. Full coverage typically means that you besides have coverage for damage to your fomite in the form of comprehensive coverage and collision coverage. If you are not sure how much coverage you need, talking to an indemnity professional might be helpful. It is significant to note that most indemnity professionals recommend you purchase enough coverage to provide adequate fiscal protection for you and your family .
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean drive record, dear credit and the pursue wax coverage limits :
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state ’ randomness requirements. Our base profile drivers own a 2019 Toyota Camry, permute five days a workweek and drive 12,000 miles per annum. These are sample rates and should only be used for comparative purposes.
Bankrate Score
Bankrate Scores primarily reflect a burden social station of industry-standard ratings for fiscal intensity and customer feel in summation to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is significant for drivers to be confident their fiscal protection covers the likeliest risks, is priced competitively and is provided by a financially-sound party with a history of positive customer support. To determine how well the best cable car indemnity companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S & P, NAIC, and Moodys had the most shock on the companies ’ Bankrate Scores. As price is a park consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each supplier. While coverage options, insurance company handiness, affordability and customer experience are much the top priorities, Bankrate besides analyzed each insurance company ’ second on-line and mobile resources for policy management and claims handling. insurance is quickly evolving to keep pace with our digital populace, so these aspects besides carried weight in determining Bankrate Scores .
