Best Car Insurance in Colorado for 2022 | Bankrate
Best Car Insurance in Colorado for 2022 | Bankrate

Best Car Insurance in Colorado for 2022 | Bankrate

Speeding-related traffic fatalities in Colorado increased by 14 % from 2018 to 2019, the final year for which data is available from the Colorado Department of Transportation. With increase traffic hazards on Colorado roads, it may be significant to reconsider your car indemnity coverage. If you ’ ra looking for the best car policy in the Centennial State, note that it might cost more than the national median. The average cost of car policy in Colorado is $ 2,016 per class for wide coverage, $ 342 more than the national median, based on Bankrate ’ sulfur 2021 study of quoted annual premiums. Geico and State Farm are among the best car policy companies in Colorado, with Bankrate Scores of 4.7 out of 5. progressive, American Family and Allstate were besides chosen for our list of best providers through an aim psychoanalysis of coverage offerings, third-party ratings and median premiums. Before choosing a provider, you may want to research each of these companies thoroughly to see which might work best for your individual needs and preferences.

Best car insurance companies in Colorado

To find the best indemnity companies in Colorado, Bankrate ’ s editorial team reviewed several facets of each mailman, 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 satisfaction and fiscal intensity ratings from AM Best, Standard and Poor ’ randomness and Moody ’ second. After analyzing how each caller stacks up along these scales, we calculated a Bankrate Score on a 5.0 point scale, indicating a supplier ’ south overall competitiveness relative to other top insurers. If you are looking for the best car policy in Colorado, you may want to consider a quotation mark 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 company ’ south average rates in Colorado are no exception. however, it may be worth noting that Geico offers fewer coverage options compared to early 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 limited add-ons, if budget is your primary concern. While the company scored slenderly lower than the Southwest industry average in the 2021 J.D. Power Customer Satisfaction Study, it did earn a gamey 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 anesthetic agents throughout communities across Colorado, so if you prefer to handle your insurance needs in-person, State Farm may be a good choice. State Farm has on-line and mobile app capabilities for digital policy management, but it scores good below industry average in the 2021 J.D. Power Digital Experience Study for serve. however, State Farm offers a wax line of insurance products, including car, home and biography policy, making it a good option for one-stop policy shop. The company besides offers bank services as an extra fringe benefit. Learn more: State Farm Insurance review

Progressive

progressive ’ second average full coverage premium is the highest on our list, but the car indemnity company offers several perks that could make its high gear average premium worthwhile. If you want to have all your insurance products with one carrier, Progressive may be a good option to consider. The company offers an categorization of merchandise lines in addition to car indemnity, including home indemnity, commercial enterprise policy and even segway policy. however, Progressive did receive below-industry-average scores from J.D. baron for both customer satisfaction and claims service. This indicates previous 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 military service, earning the highest overall customer satisfaction fink 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 addition to positivist customer experience scores, American Family ’ mho car insurance policies can be incredibly personalized, with options like ridesharing coverage, classical 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 enough of benefits, American Family ’ south Bankrate Score is not amongst the highest of the “ best car indemnity ” companies on our Colorado list. however, the ship’s company is financially strong and carries an A ( Excellent ) rat from AM Best. Learn more: american Family Insurance review

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Allstate

Allstate offers respective options to personalize your car policy policy for greater fiscal protection, including accident forgiveness, sound system equipment coverage and ridesharing coverage. The caller ’ s premiums are the second-highest on our list on average, and it received the lowest Bankrate Score amongst the five companies we rated as “ best ” in Colorado. however, the caller offers several discounts that may help you save on your policy, particularly if you choose to have your home insurance through Allstate, deoxyadenosine monophosphate well. Learn more: Allstate Insurance revueLooking to save money on auto insurance?

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Average car insurance cost in Colorado

For car policy, Colorado drivers pay an average annual premium of $ 518 for minimum coverage and $ 2,016 per year for fully coverage, according to 2021 rate data from Quadrant Information Services. Compared to the 2021 countrywide average annual premium of $ 1,674 for wide coverage, Colorado ’ mho median rates are 20 % higher. however, minimal coverage in Colorado is about 8 % less than the national average of $ 565 per year. Although many factors contribute to Colorado ’ s higher median for wide coverage rates, one may be the general increasing swerve of fatal accidents in the Centennial State. Since 2011, the number of black collisions in Colorado has increased steadily, up to 633 incidents in 2021 from about 400 in 2011.

car indemnity rates are determined using more than a twelve risk-assessment factors. In Colorado, these factors include the carrier you choose, make and exemplary of your fomite, coverage types and deductibles, geographic location including your specific ZIP code, age, occupation, marital status, insurance-based accredit score and your driving history. Since indeed many personal factors affect your car indemnity rates, your bounty will probably be different than the average Colorado car insurance rates .

How to find the best car insurance in Colorado

Each driver may require specific coverage types that may influence their decision on which cable car policy company is best for their needs. When you ’ re deciding which provider will work good, 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 come of indebtedness insurance coverage. Colorado car insurance laws mandate that each driver hold a certain total of bodily injury and property price coverage types. compulsory limits are listed on the Colorado General Assembly web site .

Consider lender requirements

Although you can drive legally with precisely the minimal amounts of coverage, most insurance experts recommend purchasing higher levels of coverage as a fiscal precaution against a dearly-won loss. If you cause an accident, your policy will lone pay up to your policy limits. If you have state minimal coverage and the damages you cause are greater than your indemnity limits, you will be responsible for the overage out-of-pocket. These costs can promptly add up to thousands of dollars and could be financially devastating to you and your family. You may besides want to consider wide coverage policy, which broadly includes optional comprehensive and collision coverage. These coverage types provide fiscal protection for damage to your own vehicle, vitamin a good as larceny, vandalism and weather-related losses. If you have a loanword or lease on your car, your lender will probably require you to carry full moon coverage. You could besides purchase gap indemnity to help cover the dispute between what your new car is deserving and what you hush owe on it after a claim payout, in the consequence it is totaled .

Consider driver risk impacts

cable car indemnity rates are personalized to each driver, depending on hazard factors such as where you live, the cable car you drive and your centrifugal vehicle history. Everyone brings a unique determined of circumstances to their search for car indemnity. possibly you have a car lend, which means you will likely need wide coverage insurance. If you have a adolescent driver, you may benefit from scholar discounts that help combat the higher premiums insurers typically charge for young adults. Whatever your specific situation, you may want to look for companies that are suited to your needs .

Car insurance discounts in Colorado

Carriers typically offer multiple car policy discounts to Coloradans, but note that demand discounts and handiness will vary from ship’s company to party. coarse 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.
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Every party 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 insurance master such as your insurance 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 insurance companies in Colorado include American National, Geico and Grange. While these companies offer the cheapest median premiums in Colorado, the cheapest company for you may be different based on your unique characteristics. Some companies may place more slant on your driving history when calculating your premium, while others might care more about your claims history. One party might offer a greater issue 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 company is different, you will need to provide some basic data to get an car policy quote. Auto insurers will typically ask for the name, date of parturition, VIN and driver ’ south license number for all the drivers in your family. If you have an active car indemnity policy, it might be helpful to have your declarations page handy while you are requesting quotes, as most of the necessary data that insurers will need to generate a quote is summarized on this page ( typically found at the front man of your indemnity policy ) .

How quickly can I get car insurance in Colorado?

If you have all of your software documentation together and no major negative marks on your drive phonograph record, you may be able to get car coverage the lapp day you request a quote. however, allowing yourself meter to shop your coverage with several companies is best for finding the right match. The Insurance Information Institute ( Triple-I ) recommends getting a minimum of three quotes from a mix of national and regional insurers to compare coverage options and costs .

What is the difference between minimum coverage and full coverage?

minimal coverage refers to the least total of coverage required by each express. Full coverage typically means that you besides have coverage for damage to your vehicle in the form of comprehensive coverage and collision coverage. If you are not sure how much coverage you need, talking to an indemnity master might be helpful. It is authoritative to note that most policy professionals recommend you purchase enough coverage to provide adequate fiscal auspices for you and your syndicate .

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 blank force record, good credit and the following broad 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 ’ s 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 relative purposes.

Bankrate Score

Bankrate Scores chiefly reflect a weighted rank of industry-standard ratings for fiscal lastingness and customer experience in summation to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their fiscal security covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positivist customer defend. To determine how well the best car policy companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S & P, NAIC, and Moodys had the most affect on the companies ’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This visibility, 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 know are frequently the top priorities, Bankrate besides analyzed each insurance company ’ s on-line and mobile resources for policy management and claims handling. indemnity is quickly evolving to keep pace with our digital world, so these aspects besides carried burden in determining Bankrate Scores .

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