The best car insurance companies in Colorado for 2024 are Geico, State Farm, Auto-Owners and Allstate. This list is determined by analyzing the companies’ annual car insurance premiums, financial stability and customer satisfaction ratings.
Use our guide to find the best insurance company for your needs and budget. We’ll help you understand your options in Colorado so you can make a confident decision.
Our takeGeico is the top choice for car insurance in Colorado. Its high financial rating of A++ from AM Best and competitive rates make it an excellent option for affordable and comprehensive coverage.
Geico’s average car insurance cost is $1,445 a year. It has a J.D. Power score of 801/1,000 and an overall rating of 3.98 out of 5.
CarInsurance.com found that Geico offers the lowest average car insurance premiums at $1,445 per year.
Check out our experts recommendations for the best car insurance coverage
What are the best car insurance companies in Colorado?
Colorado drivers have various top-rated car insurance companies to choose from. Whether you seek the best overall experience, the most affordable rates or exceptional customer service, there’s an insurer that fits your needs.
Here’s a breakdown of the best auto insurance companies in Colorado by category.
| Category | Company |
|---|---|
| Best overall | Geico |
| Most affordable | Geico |
| Highest customer satisfaction | Farmers |
| Best for teen | Auto-Owners |
| Best for young adults | Geico |
| Best for adults | Geico |
| Best for seniors | Geico |
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Compare the best auto insurance companies in Colorado
Comparing car insurance companies in Colorado is important because it helps you find the best coverage at the most affordable price. Insurance companies offer different rates and benefits, so by shopping around, you can choose a policy that fits your needs and budget.
To assist you, we’ve thoroughly reviewed the top insurers in the state. Find below the list of the best auto insurance providers in Colorado.
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Geico | $1,445 | A++ | 801 | 0.91 | 3.98 |
| State Farm | $1,950 | A++ | 783 | 0.70 | 3.86 |
| Auto-Owners | $2,874 | A++ | 808 | 0.50 | 3.73 |
| Allstate | $2,774 | A+ | 795 | 0.65 | 3.37 |
| Progressive | $2,796 | A+ | 828 | 0.65 | 3.35 |
| Farmers | $3,578 | A | 835 | 0.80 | 2.94 |
| Kemper Insurance | $1,878 | A- | 736 | 2.16 | 2.26 |
Best car insurance companies by age group in Colorado
As you age, your driving habits and insurance needs change, influencing your car insurance rates and the type of coverage you require. The best insurer for a teen is likely not the best choice for a senior, as each age group has unique needs and priorities when it comes to auto insurance.
Teenagers, viewed as high-risk due to their inexperience, often benefit from policies with extensive coverage options, digital tools and discounts for good grades and safe driving habits. Seniors, on the other hand, might prioritize higher liability limits and prefer personalized customer service.
Additionally, while teen drivers’ insurance needs change rapidly as they gain experience, seniors typically focus on maintaining comprehensive coverage as they age. Thus, the best insurer for one may not meet the unique requirements of the other.
Select your age group and coverage level below to see the list of best car insurance companies and their annual average rates.
| Company | Annual rates | Customer satisfaction rating |
|---|---|---|
- Full coverage: 100/300/100 liability with $500 comprehensive/collision deductible
- Liability only: 50/100/50 liability only
- State minimum: State minimum coverage
Check out our detailed guide on average car insurance rates by age group
Best for teen drivers in Colorado
Insurance premiums are typically higher for teen drivers because of their increased risk and inexperience. According to the Centers for Disease Control and Prevention, teen drivers are more likely to misjudge or not notice risky situations than older drivers.
Teen drivers are also more likely to make serious mistakes that can lead to major accidents. In 2022, 2,883 teenagers between the ages of 13 and 19 lost their lives in car accidents, according to a report from the Insurance Institute for Highway Safety.
Finding insurance companies that offer competitive rates and benefits for teen drivers, like good student discounts, driver training discounts and accident forgiveness, can help manage these costs.
Known for its lower-than-average rates for teen drivers, Auto-Owners is a great option for teenagers looking to save on premiums at $6,292 a year.
When determining the best car insurance companies for teen drivers, several key factors were considered to ensure a comprehensive evaluation. The overall score for each company is derived from a weighted analysis of four main factors:
- The average annual full-coverage car insurance cost (25%)
- J.D. Power score (30%)
- AM Best rating (25%)
- NAIC rating (20%)
Each factor is assigned a specific percentage weight based on how they performed in each category.
Here are some top choices for teens aged 16-19 based on our analysis:
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Auto-Owners | $6,292 | A++ | 808 | 0.5 | 3.88 |
| State Farm | $5,113 | A++ | 783 | 0.7 | 3.81 |
| Geico | $4,796 | A++ | 801 | 0.91 | 3.79 |
| Allstate | $6,567 | A+ | 795 | 0.65 | 3.45 |
| Farmers | $8,525 | A | 835 | 0.8 | 3.08 |
| Progressive | $10,146 | A+ | 828 | 0.65 | 2.99 |
| Kemper Insurance | $6,349 | A- | 736 | 2.16 | 1.16 |
Best for young adults in Colorado
Finding the right insurance is important for young drivers, who typically face higher insurance premiums due to their perceived risk.
Companies like Geico and State Farm offer affordable rates for those aged 20-24 in Colorado.
To compile our list of the best car insurance companies for young adults in 2024, we evaluated four factors: average annual full coverage car insurance cost (25%), J.D. Power score (30%), AM Best rating (25%) and NAIC rating (20%). Each factor has been assigned a specific percentage weight to calculate overall performance.
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Geico | $2,089 | A++ | 801 | 0.91 | 3.98 |
| State Farm | $3,080 | A++ | 783 | 0.70 | 3.78 |
| Auto-Owners | $4,306 | A++ | 808 | 0.50 | 3.67 |
| Allstate | $3,834 | A+ | 795 | 0.65 | 3.40 |
| Progressive | $4,704 | A+ | 828 | 0.65 | 3.16 |
| Farmers | $4,480 | A | 835 | 0.80 | 3.10 |
| Kemper Insurance | $3,365 | A- | 736 | 2.16 | 1.21 |
Best for adult drivers in Colorado
When choosing car insurance, different age groups often have varying needs and priorities. For adults and experienced drivers aged 25 to 60, factors such as coverage options, customer service and premium costs play significant roles in selecting the right insurer.
Geico is the best car insurance company in Colorado for adult drivers. It offers full coverage insurance at an average cost of $1,425 a year and has an overall rating of 3.98, higher among the companies analyzed.
Our list of the best car insurance companies for adult drivers is based on a thorough analysis of four main factors: average annual full coverage car insurance cost in Colorado (25%), J.D. Power score (30%), AM Best rating (25%) and NAIC rating (20%).
Experienced drivers are usually seen as less risky than younger drivers because they have more experience on the road and as a result, they often pay lower insurance premiums.
Find below the list of the best car insurance companies in Colorado and their average annual premiums for adult drivers aged 25-60.
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Geico | $1,425 | A++ | 801 | 0.91 | 3.98 |
| State Farm | $1,951 | A++ | 783 | 0.70 | 3.85 |
| Auto-Owners | $2,870 | A++ | 808 | 0.50 | 3.72 |
| Allstate | $2,813 | A+ | 795 | 0.65 | 3.35 |
| Progressive | $2,818 | A+ | 828 | 0.65 | 3.34 |
| Farmers | $3,497 | A | 835 | 0.80 | 2.97 |
| Kemper Insurance | $1,900 | A- | 736 | 2.16 | 1.37 |
Best for senior drivers in Colorado
Geico provides the most affordable car insurance for senior drivers with premiums as low as $1,430 per year.
Finding the best car insurance companies for senior drivers requires a detailed analysis of various important factors. The overall score for each insurer is based on a weighted analysis of four different factors: the average annual full-coverage car insurance cost (25%), J.D. Power score (30%), AM Best rating (25%), and NAIC rating (20%). The percentage weight assigned to each factor corresponds to its importance in determining an insurance provider’s financial strength, affordability, customer experience and complaint ratio.
Below are the best auto insurance companies in Colorado for senior drivers aged 65-75.
| Company | Monthly cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Geico | $119 | A++ | 801 | 0.91 | 3.98 |
| State Farm | $150 | A++ | 783 | 0.70 | 3.90 |
| Auto-Owners | $224 | A++ | 808 | 0.50 | 3.75 |
| Allstate | $219 | A+ | 795 | 0.65 | 3.38 |
| Progressive | $226 | A+ | 828 | 0.65 | 3.34 |
| Farmers | $298 | A | 835 | 0.80 | 2.87 |
| Kemper Insurance | $169 | A- | 736 | 2.16 | 1.31 |
Learn more about how to shop for car insurance for seniors
Best overall car insurance company in state
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Choosing the right insurance company is largely determined by your driver profile. Here’s how to find the best insurer to suit your specific needs:
For budget-conscious drivers in Colorado
Look for car insurance companies that offer discounts, including safe driver, multi-policy and automatic payment discounts, to reduce your premiums. And you can opt to pay your premiums monthly, semi-annually or annually.
Find the best insurance companies and their annual rates for different coverage levels listed below in Colorado.
| Company | State-minimum | Liability-only | Full coverage |
|---|---|---|---|
| Geico | $227 | $347 | $1,445 |
| Southern Farm Bureau | $228 | $441 | $1,780 |
| Kemper | $400 | $593 | $1,878 |
| State Farm | $387 | $538 | $1,950 |
| Allstate | $761 | $1,062 | $2,774 |
| Progressive | $404 | $675 | $2,796 |
| Auto-Owners | $400 | $688 | $2,874 |
| Farmers | $824 | $1,744 | $3,578 |
| Acuity Insurance | $582 | $781 | $3,769 |
| USAA | $283 | $427 | $1,559 |
Notes:
- Full coverage car insurance limit is 100/300/100 with a $500 deductible.
- Liability-only car insurance limit is 50/100/50.
- State minimum car insurance is 25/50/15.
For high-risk drivers in Colorado
If you’re a high-risk driver or someone with multiple traffic violations or DUIs on their record, look for insurers that specialize in high-risk policies. Focus on improving your driving record by attending a defensive driving course. These steps can help reduce your rates over time.
High-risk status isn’t permanent. As your driving record improves and your risk profile changes, regularly compare insurance rates and options.
| Company | 6-month cost | Annual cost |
|---|---|---|
| Geico | $1,250 | $2,500 |
| State Farm | $1,400 | $2,799 |
| Kemper | $1,407 | $2,813 |
| Allstate | $1,817 | $3,634 |
| Progressive | $2,051 | $4,102 |
| Auto-Owners | $2,223 | $4,446 |
| Farmers | $3,048 | $6,095 |
| USAA | $1,199 | $2,397 |
By understanding specific driver profiles and doing proper research, high-risk drivers can find an insurance company that meets their needs and provides the best value.
In conversation with experts
CarInsurance.com editors interviewed James Brau, Joel C. Peterson, professor of finance at Brigham Young University. See his responses below.
How important is customer service when deciding the right car insurance company?
Customer service is critical – it should be one of the top factors consumers consider. All else equal, meaning similar premiums, coverage, riders, etc., customer service is often the deciding factor. If a customer gets to speak to a cheerful human without 10 minutes of robot phone trees, especially when stressed out after a wreck or theft, it makes life a lot better.
What are the key factors that consumers should consider when selecting a car insurance company in their state?
Customers should do research pertaining to coverage, premiums, reputation, how many stars on reviews, etc. Make sure to compare apples to apples – that you’re getting the same coverage amounts, for example. Shop around – competition helps the consumer.
How often should policyholders review and adjust their car insurance policies?
Every six months is a good rule of thumb because most people pay in semi-annual installments. If you keep your company on its toes, they are more likely to stay competitive and offer special pricing, deals, incentives, etc.
Frequently asked questions
What is the average cost of car insurance in Colorado?
The average annual cost of car insurance in Colorado is $2,337. This rate can vary depending on factors such as the driver’s age, driving history and coverage limits
How much car insurance coverage do I need in Colorado?
When assessing your car insurance needs in Colorado, consider the state’s legal requirements. Typically, the minimum coverage required in Colorado consists of $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $15,000 in property damage liability.
If you have valuable assets to safeguard, it’s wise to go beyond Colorado’s minimum requirements and opt for higher liability limits. Experts suggest getting full coverage car insurance with limits of 100/300/100 and a $500 deductible for collision/comprehensive.
Here’s what it means:
- $100,000 in bodily injury liability per person pays for injuries you cause to others in an accident.
- $300,000 in bodily injury liability per accident will cover injuries per accident, covering costs if multiple people are injured.
- $100,000 in property damage liability per accident covers damage you cause to another driver’s property in an at-fault accident.
Opting for higher limits is advisable as they provide increased protection against financial losses. When choosing coverage limits, also take into account your driving habits, the value of your vehicle and your finances.
Which company has the best car insurance rates in Colorado?
CarInsurance.com’s analysis shows that Geico offers the lowest car insurance rates for Colorado drivers, with an average premium of $120 per month or $1,445 per year.
Resources & Methodology
Sources
- Insurance Institute for Highway Safety. “Fatality Facts 2022 Teenagers.” Accessed September 2024.
- Centers for Disease Control and Prevention. “Risk Factors for Teen Drivers.” Accessed September 2024.
- National Safety Council. “Age of Driver.” Accessed September 2024.
Methodology
CarInsurance.com collected insurance rate data from Quadrant Information Services for Colorado drivers. The rate data is for drivers of different age groups:
- Teens: Age 16-19
- Young adults: Age 20-24
- Adults: 25- 60
- Seniors: 60-75
The different coverage levels include:
- Annual full coverage car insurance with a coverage limit of $100,000 in bodily injury per person, $300,000 in bodily injury coverage per accident, $100,000 in property damage coverage per accident and a $500 collision/comprehensive deductible.
- A six-month car insurance policy with limits of 100/300/100-500 coll/comp deductible.
- Liability-only car insurance rates with a limit of 50/100/50.
- State minimum coverage limit of 25/50/15.
Car insurance rates are calculated by evaluating the sample profile of a 40-year-old male and female driver with the following incidents applied:
- 1 at-fault property damage accident over $2K
- 1 at-fault property damage accident under $2K
- At-fault bodily injury accident
- Poor credit
- DUI/DWI first offense
- Speeding 30+ over limit
- Speeding ticket 1-10 mph over limit
- Speeding ticket 11-29 mph over limit
The editors created a rating system to determine the best insurance companies in each sector. For auto insurers, we took the following and gave each a weight.
- Average annual cost: 25%
- J.D. Power score: 30%
- AM Best rating: 25%
Each insurer was awarded an overall rating of 0.5 to 5. No insurer in our overall rating received less than 1 rating and 5 was the most any insurer could receive.
To evaluate the rates, we have compared 51,088,003 insurance quotes from 167 national & regional insurance companies across 29,152 cities and 34,588 ZIP codes.
Note: USAA is only available to military community members and their families.
Ask the Insurance Expert
Laura Longero
Executive Editor
Laura Longero is an insurance expert and Executive Editor at CarInsurance.com, where she specializes in helping consumers navigate the complexities of the financial and insurance industries. She has 15 years of experience educating people about finance and car insurance. Prior to joining CarInsurance.com, she worked as a reporter and editor at the USA Today Network. Her expertise provides readers with practical guidance, helping them make informed choices about their financial and insurance needs.
Ask the Insurance Expert
John McCormick
Editorial Director
John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.
Ask the Insurance Expert
Leslie Kasperowicz
Executive Editor
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at CarInsurance.com.
Ask the Insurance Expert
Nupur Gambhir
Managing Editor
Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service.
Guide to car insurance (with rates) in cities of Colorado