Updated: September 13, 2024
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It may be tempting to opt for minimum coverage because of the low cost, but this policy may prove inadequate financial protection after an accident. Full coverage insurance is more expensive but offers higher liability limits and greater protection after an at-fault accident.
MoneyGeek used quotes for a good rider with a 50/100/25 liability-only coverage policy for the rates below.
Based on average prices, the cheapest providers for a safe biker with liability-only motorcycle insurance in Colorado are:
Markel’s rates are 48.2% cheaper than those charged by the costliest firm, Harley-Davidson.
Company | Annual Premium | |
|---|---|---|
1. | Markel | $58 |
2. | Progressive | $76 |
3. | Dairyland | $96 |
4. | GEICO | $100 |
5. | Nationwide | $101 |
6. | Harley-Davidson | $112 |
MoneyGeek advises Colorado riders to buy a full coverage policy with comprehensive and collision insurance. Keep in mind that most riders who are still making payments on their bikes must have full-coverage insurance. Full-coverage plans also offer better protection against damages caused by collisions and non-collision incidents, such as fire, vandalism or theft.
On average, the least expensive providers in Colorado for a safe biker with a full coverage policy, including 50/100/25 coverage and a $500 deductible, are:
Premiums from the most affordable company — Dairyland — are 48.3% lower than those from the costliest carrier — Markel.
Company | Annual Premium | |
|---|---|---|
1. | Dairyland | $230 |
2. | Harley-Davidson | $247 |
3. | GEICO | $271 |
4. | Progressive | $312 |
5. | Nationwide | $421 |
6. | Markel | $446 |
The average cost of motorcycle insurance in Colorado depends on several factors, including coverage amounts, age, motorcycle model, years of riding experience and riding record. MoneyGeek compared average premiums from insurers across the state for various rider profiles.
On average, a full coverage policy in Colorado costs $321 per year or $27 per month. That’s $43 lower than the national average.
Colorado riders pay an average of $91 per year or $8 per month for liability-only coverage, $51 less than the national average. While minimum coverage is cheaper, it offers scant protection after an at-fault accident.
The average rates provided in this study are for a policy with $50,000/$100,000 of bodily injury liability coverage, $25,000 in property damage liability insurance and a $500 deductible.
Type | Cost | National Average | Delta vs National Average |
|---|---|---|---|
Full Coverage | 321 | 364 | -43 |
Liability | 91 | 141 | -51 |
MoneyGeek computed the total scores of motorcycle insurance providers in Colorado based on affordability, financial stability and products and services delivered. According to this data, Dairyland is the best motorcycle insurance company in the state.
MoneyGeek’s research revealed that the three-best motorcycle insurance carriers in Colorado are:
Pros
Cons
Progressive takes a close second in Colorado with a score of 88.46 out of 100. This company charges an average annual rate of $76 for liability-only coverage. A full-coverage plan costs $312 per year, on average.
Progressive offers several unique coverages and add-ons that make it stand out. If you’re incapacitated due to a covered incident, the company’s enhanced injury protection policy pays you up to $250 per week for two years. Their disappearing deductible plan decreases your deductible by 25% for every claim-free policy term. Another notable add-on is the accident forgiveness feature, which ensures your premiums won’t increase for claims less than $500. Additionally, Progressive offers automatic coverage for original equipment manufacturers (OEM) and custom parts.
Pros
Cons
Dairyland ranks number one in Colorado with an impressive score of 88.49 out of 100. For liability-only coverage, the company charges $96 per year, on average. Full coverage policies run at a $230 annual premium.
Dairyland provides coverage for all brands and models of bikes, scooters and mopeds, as well as add-on coverage for vintage motorcycles, trikes, accessories and custom bikes. Its standard coverages include uninsured motorist bodily injury, property damage, bodily injury liability and trip interruption coverage. To help customers save on their premiums, Dairyland offers discounts for loyalty, owning multiple motorcycles and taking rider safety courses.
To get the cheapest motorcycle insurance in Colorado, be sure to shop around and compare quotes. You can effortlessly get an online quote with the following information:
Most states mandate bikers to have at least minimum coverage while riding their vehicle. Colorado’s minimum coverage requirements include:
The minimum coverage requirement for all motor vehicles in Colorado is 25/50/15. That means your motorcycle insurance in Colorado should have liability limits of at least $25,000 for bodily injury per person, with a total of $50,000 per accident and $15,000 for property damage liability coverage. If you buy this policy, your insurer would need to meet these coverage limits and pay for damages in an at-fault accident.
In Colorado, riders don’t have to buy underinsured motorist, uninsured motorist or personal injury protection (PIP) coverage. Only property damage and bodily injury coverage are required. To increase your protection levels, you can add additional features to your insurance plan.
MoneyGeek suggests that Colorado bikers buy at least 50/100/25 coverage. We recommend you consider increasing your coverage to 100/300/100 to receive substantial extra protections at a small additional cost.
MoneyGeek replies to frequently asked queries on motorcycle insurance in Colorado to help bikers make the right choice.
For full coverage bike insurance, your cheapest option is Dairyland at $230 annually. The least expensive provider of liability-only coverage is Markel, with average annual rates of $58.
On average, Colorado riders need to pay $321 per year for full coverage and $91 per year for a liability-only policy.
As per MoneyGeek’s ranking, Dairyland edges out Progressive to be the best motorcycle insurer in the state.
Colorado laws stipulate that motorcyclists need to carry at least liability insurance on the road.
To help users find the best motorcycle insurance in Colorado, MoneyGeek captured prices from insurance companies based on different coverage amounts and driver profiles. We ranked the best providers in the state based on a unique scoring system that gave 10% weighting to financial stability, 60% weighting to affordability and 30% weighting to products and services offered. Our information is accurate, as we collected the most recent insurance coverage requirements and license laws from trustworthy government sources.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
