The best car insurance companies in Colorado are The General, GAINSCO, and Direct Auto, based on user ratings on WalletHub. Drivers in Colorado can save up to $2,542 per year just by comparing quotes and picking one of the best insurers in the state.
The best auto insurance isn’t always the cheapest, though. Good car insurance is about more than just affordable coverage, after all. The best auto insurance companies in Colorado also have high customer satisfaction ratings, a streamlined claims process, and helpful policy management tools.
It pays to be protected by a great insurer in Colorado. There are roughly 121,648 car accidents in Colorado each year, resulting in billions of dollars in damage. Around 16% of drivers in Colorado are driving without insurance, too. Fortunately, Colorado drivers have both national and regional car insurance options to choose from.
To find the best car insurance in Colorado for different types of drivers, WalletHub’s editors compared coverage options and rates from local, regional and national auto insurance providers. You can find the top options listed below.
MAPFRE Insurance originated in Massachusetts as The Commerce Group, Inc. (CGI), founded in the town of Webster, Massachusetts in 1972. MAPFRE is the largest private passenger automobile insurer, homeowners’ insurer... show more
The General is a licensed car insurance agency based in Nashville, Tennessee. It&rsquo,s a subsidiary of PGC Holdings Corp. (PGC), and is known for offering auto insurance to high-risk drivers... show more
GAINSCO Auto Insurance is a Dallas, Texas-based property and casualty insurance company concentrating on the non-standard personal auto insurance market, specializing in minimum-limits personal auto insurance. GAINSCO Auto Insurance is... show more
National General Insurance is headquartered in New York City and was founded in 1939. Since then, the company has grown to become one of the largest insurance providers in the... show more
Esurance is an online insurance company that specializes in selling bundled insurance policies at affordable prices. The company was purchased by Allstate in 2011 in a $1 billion deal. Here... show more
Farmers is one of the oldest auto insurance companies in the U.S., having opened in 1928. The Farmers Insurance Group of Companies now serves more than 50 million individual policies... show more
State Farm is the largest provider of auto and home insurance policies in the U.S., insuring more than 80 million people across the country. The company is headquartered in Bloomington,... show more
American Family Insurance is a large, multi-line insurance company that was founded in 1927. The company is headquartered in Madison, Wisconsin. Here are a few other key things to know... show more
Horace Mann was founded in 1945 by two Springfield, Illinois, teachers who saw a need for quality, affordable auto insurance for teachers. Since then, they have broadened their mission to... show more
Progressive is one of the largest insurance companies in the U.S., and it operates in all 50 states as well as Washington, D.C. The company now serves more than 13... show more
Best Car Insurance Companies in Colorado Comparison
The best car insurance in Colorado is from The General because customers give The General positive reviews. For instance, The General has a user rating of 4.0 out of 5 on WalletHub, and the company offers solid coverage options as well as nine discounts for policyholders to take advantage of.
In addition to its standard coverage choices, The General offers specialty policy add-ons such as roadside assistance and customized equipment coverage. Check out the table below to learn more about the best car insurance companies in Colorado.
Car insurance in Colorado costs an average of $42 per month or $606 per year for minimum coverage. This means drivers in Colorado pay about 11% less for state-minimum coverage than drivers throughout the rest of the country.
Average Cost of Car Insurance in Colorado by Company
Note: Rates are an approximation based on a male driver in Colorado with minimum coverage and a clean driving record. Actual rates will vary.
Tips for Finding the Best Car Insurance in Colorado
1. Shop Around
It’s important to explore your options so you can find the best policy for your needs with the most competitive rate. It’s typically recommended that you compare quotes from at least three different insurance companies before purchasing a policy in order to find the best deal.
You can begin by comparing quotes from the best car insurance companies in Colorado. Colorado drivers should also compare quotes from local insurance companies such as Colorado Farm Bureau and Acuity Insurance.
2. Find the Best Companies for Your Age Group
To help drivers determine which companies to compare quotes from, WalletHub’s editors have ranked the cheapest insurers for specific categories of people. For instance, you can learn more about the best car insurance companies for teens and young drivers, college students, and seniors. The best car insurance companies for middle-aged drivers will typically be the same as the best companies in Colorado overall.
3. Look Into the Company’s Reputation
Research the reputation of each insurance company you’re considering, including their financial stability and customer service record, by checking out their profile on WalletHub. You can see ratings from consumer watchdog groups like AM Best and read reviews that WalletHub users have left based on their experiences with each company. Additionally, you should ask for recommendations from friends, family members, and colleagues.
4. Look for Discounts
In addition to comparing quotes, you should compare the discounts each insurance company offers. Consider how much the discounts save you and how many you are eligible for. Discounts can vary based on factors like your driving history, your policy choices, and your car.
For example, many insurers offer a pay-in-full discount for drivers who pay for their entire policy up front. Additionally, you can get a discount if your vehicle is equipped with certain safety features such as an anti-theft device.
5. Determine How Much Coverage You Need
You have to purchase enough coverage to meet the minimum requirements in Colorado in order to drive legally. Whatever coverage you purchase beyond that is based on your individual needs and circumstances.
If you are struggling to find affordable rates, then opting only for minimum coverage may be the best choice. It’s important to note that if your car is leased or financed, your lender or lessor may have additional coverage requirements that you will need to meet.
Video: Best Car Insurance Companies in Colorado
Methodology
In order to identify the best car insurance companies in Colorado, WalletHub evaluated more than 30 of the largest insurance companies that: 1) are licensed in the state, 2) allow consumers to buy and manage auto insurance policies online, and 3) have agents licensed in the state.
To be eligible for the label “Best Car Insurance Company in Colorado”, an insurance company must have an average rating of 3.7 or higher among user reviews on WalletHub, with a minimum of 10 reviews. In the absence of at least five insurance companies that meet the review criteria, we included the next-best companies.
Best Car Insurance In Colorado FAQ
Comparing car insurance can be tough. But you've got the knowledgeable WalletHub community on your side. Other consumers have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institution's responsibility to ensure all posts and questions are answered.
The #1 car insurance company is State Farm because it is the largest auto insurer in the U.S., with a market share of 16%. State Farm insures over 80 million people and offers coverage in all 50 states.
The top 10 car insurance companies - State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family and Travelers - own more than 70% of the auto insurance market share in the U.S. As a result, it shouldn't come as a surprise that these companies tend to be the best options for most types of drivers.
Colorado law requires you to have $25,000 in coverage for one person's bodily injury or death, up to $50,000 total per accident. Colorado also requires you to carry at least $15,000 in coverage for other people's property damage when you are at fault.
Car insurance in Colorado costs $42 per month or $606 per year for minimum coverage, on average. The cheapest car insurance companies in Colorado are American National, Southern Farm Bureau, and GEICO, and getting quotes from several companies can help you find the best deal.
The average cost of car insurance in Colorado is 10% lower than the national average auto insurance premium. There are several factors that affect how much you'll pay for car insurance...
Key Things to Know About Liability Car Insurance in Colorado
Some communities are exempt. Per Alaska state legislature, if you live in certain communities, you are exempt from vehicle registration, the Mandatory Insurance Law, and CDL road testing. In this case, you are not required to purchase...
Full coverage insurance in Colorado costs $204 per month, or $2,445 per year, on average. This is more expensive than the national average cost of full coverage, which is $2,117 per year.
To help drivers find the best car insurance in Colorado, WalletHub posed the following questions to a panel of experts. Click on the links below to find their commentary and advice.
Why are car insurance prices so different from state to state?
Are car insurance companies really able to save drivers as much as they advertise?
What are the most important things to look for when shopping for car insurance?
What is the best way to save on car insurance?
What advice would you give to someone shopping for car insurance for the first time?
Why are car insurance laws so different from state to state?
What are the pros and cons of choosing a national car insurance company over a local insurer?
Cindy Baroway CPCU, M.Ed., AIC - Executive Director, Risk Management & Insurance (RMI) Program - University of Colorado Denver | Business School Read More
Nate Peach Ph.D., Associate Professor of Economics, Katz School of Business, Fort Lewis College Read More
Connie Ostwald Ph.D., Lead Faculty in Economics, Colorado Christian University Read More
Ioana Mazare Ph.D., Adjunct Faculty, Transportation and Supply Chain Institute, University of Denver Read More
Jonathan Z. Zhang Ph.D., Ajay Menon Professor in Business, Associate Professor of Marketing, Affiliate and Steering Committee, CSU Data Science Research Institute, Colorado State University Read More
Jin Peng Ph.D., Assistant Professor of Finance, College of Business, University of Colorado Colorado Springs Read More
Darrin C. Duber-Smith Senior Lecturer, College of Business, Metropolitan State University of Denver Read More
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