Auto & Bike Blog: 5 Best Companies for Car Insurance in Colorado (2020)

Be sure to wear a seat belt – auto accidents are a leading cause of death in Colorado.
In 2017, Colorado drivers paid an average total of $1,194.70 in insurance premiums, which is slightly higher than the national average.
When purchasing car insurance in Colorado, you’ll need at least the state’s minimum-required bodily injury liability and property damage liability coverage.

Affiliate disclosure: Automoblog and its partners may be compensated when you purchase the products below.

The Centennial State can be a scenic place to drive, but first, you need to make sure you have the proper car insurance in Colorado. In this article, we’ll recommend the top insurance providers for Colorado drivers based on affordability, coverage, and customer service. We’ll also explain important Colorado car insurance information such as minimum policy requirements and how much you should expect to pay for coverage.

Our review team has taken a close look at several of the best car insurance companies in the industry. Using our previous research as a guide, we’ve created a top-provider list specifically tailored to Colorado drivers. While our recommendations offer some of the lowest auto insurance rates in the state, individual prices may vary. One way to find the cheapest Colorado auto insurance is to compare quotes yourself, which you can do easily using the tool below.

Top Colorado Car Insurance Providers

While many auto insurance providers are available in every state, coverage, customer service, and cost can vary from place to place. To determine which companies offer the best car insurance in Colorado, we not only considered national reputation, but also local service scores and costs. See our list of the best Colorado car insurance providers and find information about each recommended insurer below.

Best Colorado Car Insurance	Overall Rating	Coverage	Affordability
1. Geico	96%	95%	95%
2. American Family Insurance	87%	95%	90%
3. USAA	96%	95%	95%
4. The Hartford	91%	95%	90%
5. Allstate	90%	90%	80%

*Overall Ratings represent our team’s evaluation of auto insurance companies nationwide, while the order of providers in the table reflects recommendations specifically in Colorado. For this reason, you may see some providers listed above others with higher Overall Ratings.

#1 Geico: Best Overall

Geico is among the best-known insurers in the country for a reason, and this is not only because of its memorable advertisements. Geico offers low-cost policies that make the provider a smart decision for most drivers.

For Colorado drivers, Geico is especially well-regarded. In the J.D. Power 2020 U.S. Auto Insurance Satisfaction Study^SM for the Southwest region (which includes Arizona, Colorado, Nevada, New Mexico, and Utah), Geico tied for first place with an overall score of 834 out of 1,000 points.

In addition to offering standard car insurance in Colorado, Geico customers can also purchase mechanical breakdown insurance (MBI). MBI policies help pay for expensive mechanical repairs after your car’s original warranty expires.

Geico has an A+ rating from the Better Business Bureau (BBB) and an A++ financial strength rating from AM Best. If you want to learn more, you can do so by checking out our full Geico auto insurance review.

#2 American Family Insurance: Best Local Service

American Family Insurance is a regional provider available to drivers in 17 states, including Colorado. It tied with Geico for first place in the J.D. Power Satisfaction Study for the Southwest region, with 834 out of 1,000 points.

When it comes to other industry benchmarks, American Family is not quite as highly rated as Geico, but it comes close. The company has an A financial strength rating from AM Best and an A rating from the BBB. It’s not unusual for regional insurers to have slightly lower fiscal strengths than national corporations, but American Family has stronger financials than many other small-scale providers and a loyal customer base in Colorado.

Drivers can find all standard types of car insurance with American Family, as well as specialty coverage for motorcycles and recreational vehicles.

#3 USAA: Best for Military Families

USAA scored the highest of any auto insurance provider in the J.D. Power Satisfaction Study for the Southwest region. In fact, USAA consistently scored the highest in most regions surveyed but is not eligible for formal ranking because it is not available to every driver.

USAA insurance is only available to military members and their immediate families. For those who do qualify, USAA is often the best choice for drivers in any state. It has an A++ financial strength rating from AM Best and one of the best customer satisfaction reputations of any car insurance company.

USAA insurance premiums are low for members, and you can save even more if you’re able to take advantage of USAA’s many discounts. Drivers looking for car insurance in Colorado should look for:

Family discount
Loyalty discount
Safe driving discount
New vehicle discount
Multi-vehicle discount
Good student discount
Vehicle storage discount
Annual mileage discount
Driving courses discount
Military installation discount

Learn more about this insurer by reading our full USAA car insurance review.

#4 The Hartford: Best for Seniors in Colorado

The Hartford specializes in car insurance coverage for older drivers. Those with American Association of Retired Persons (AARP) membership qualify for special discounted coverage from The Hartford. If you are old enough (to join AARP, you must be at least 50), AARP membership fees are very low, and the money you’ll save on an insurance policy can easily justify the cost.

Ways to save on Colorado auto insurance with The Hartford include:

Rate protection
Anti-theft discount
Pay-in-full discount
Good student discounts
Driver training discounts
Disappearing deductible
Defensive driver discount
First accident forgiveness
$100 deductible reduction at authorized repair shops

Policies with The Hartford are inexpensive, and the company has a strong reputation for quality customer service in Colorado. In the J.D. Power Satisfaction Study for the Southwest region, The Hartford placed fourth with a score of 829 out of 1,000.

In addition to the standard types of auto insurance, The Hartford sells classic auto insurance, RV insurance, and commercial auto insurance in Colorado.

#5 Allstate: Excellent Local Agents

Allstate ranked third in the J.D. Power Satisfaction Study for the Southwest region, scoring 830 out of 1,000 points. It is no surprise that Allstate ranks high for customer service in Colorado, as the provider works through a network of local agents to provide coverage. This means an agent familiar with Colorado roads and driving requirements can help pair you with the ideal car insurance policy.

While Allstate does not offer the same number of discount opportunities as some of the other providers on our list, it does offer the following cost-reduction perks:

New car discount
Teen driver discount
Multi-policy discount

Allstate has a strong national reputation and solid financial backing. The insurer has an A+ rating from the BBB and an A+ financial strength rating from AM Best.

Colorado Car Insurance Requirements

Car insurance is required in Colorado. At the very minimum, drivers must purchase 25/50/15 liability insurance, which includes the following coverage:

$25,000 per person bodily injury liability
$50,000 per accident bodily injury liability
$15,000 per accident property damage liability

Colorado state agents regularly compare the database of registered vehicles against a list of insured vehicles, so even if you are not involved in an accident, you can be flagged for not having the proper insurance. If you’re caught driving without car insurance in Colorado, you may face the following penalties:

License suspension
Fines that increase up to $1,000
Four points added to your license
Up to 40 hours of community service

The first time you are caught driving without car insurance in Colorado, the fine is $500 and your license is suspended until you pay a $40 fee. Further infractions result in a fine of $1,000 and license suspension up to eight months.

Fines aren’t the only reason you should maintain auto insurance coverage. While the limits mentioned above are the legally required minimums, all drivers should consider full coverage auto insurance.

A full coverage policy will help pay for the cost of repairs to your vehicle no matter the type of incident or who was at fault. It’s typically recommended that drivers have comprehensive and collision coverage, uninsured/underinsured motorist coverage, and medical coverage in addition to liability coverage.

Cost of Car Insurance in Colorado

According to a 2020 report issued by the National Association of Insurance Commissioners (NAIC), Colorado drivers paid the following average auto insurance premium costs in 2017:

Liability: $639.99
Collision: $326.39
Comprehensive: $228.32
Total average expenditure: $1,050.19

These numbers are somewhat higher than national averages, but not by much. The average total premium across all states in 2017 was $1,004.68, according to the same report.

Colorado Car Insurance Alternatives

If you have over 25 vehicles registered to your name, you can register with the state as a self-insurer. To do so, you must apply for a certificate of self-insurance from the Colorado state insurance commissioner.

Colorado Driving Habits

Like many states, car accidents are one of the leading causes of death in Colorado. According to the Colorado Department of Transportation, the number of deaths from motor vehicle accidents has risen steadily since 2011.

Data from the U.S. Department of Transportation indicates that there were 11.1 deaths per 100,000 people in Colorado in 2018. This is about the same as the national average of 11.2.

That same year, Colorado drivers traveled a total of 53,954,000,000 miles, an average of 12,711 miles per licensed driver.

Depending on where you are in the state, Coloradans may experience harsh winter driving conditions. In addition to obeying speed limits and wearing a seat belt, make sure your vehicle is properly outfitted for road conditions and that you adjust your driving behavior accordingly.

Conclusion: Colorado Car Insurance

Car insurance in Colorado costs slightly more than it does in most other states. However, this doesn’t mean it’s impossible to find affordable auto insurance in Colorado. We recommend Colorado drivers look into policies from these top providers:

#1 Geico
#2 American Family Insurance
#3 USAA
#4 The Hartford
#5 Allstate

These companies have excellent reputations among Colorado drivers and offer low-cost policies. The best way to find the cheapest auto insurance provider for you is to shop around and compare quotes. Your state, age, gender, marital status, and driving history can all impact your car insurance rates. Use the tool below to find free car insurance quotes quickly from several of our top-rated providers.

Original article: 5 Best Companies for Car Insurance in Colorado (2020)