Find Cheap Motorcycle Insurance Quotes in Your Area
On average, the cheapest motorcycle insurance company in Colorado charges an annual premium of $407. Our survey of more than 200 quotes for motorcycle insurance in the Centennial State found a number of great options for protecting your ride. Read our analysis of the best motorcycle insurers below, or enter your information above to see your local options right away.
- Best for most people: GEICO
- Best for cheap coverage: Nationwide
- Most comprehensive coverage: Dairyland
Best for most people: GEICO
Based on our research, we believe GEICO's motorcycle insurance offers the best coverage for most riders in Colorado. Not only is GEICO's policy affordable, but it also offers an array of rider-specific discounts and custom protections that allow you to tailor a policy that insures your ride the way you need it to.
For an average premium of $509 per year in Colorado, GEICO motorcycle insurance provides legally required liability coverage for bodily injury and property damage. However, it also extends protection to cases in which you aren't responsible. The collision and comprehensive coverage on a policy like GEICO's will pay for any damage to your ride that's caused by other motorists or random events such as fire and theft.
We also found that GEICO carries strong ratings for customer service and financial stability — two key characteristics for any insurance company. J.D. Power's satisfaction survey of auto insurers in the Central U.S. placed GEICO within the top four companies, with high marks price, policy offerings, billing process and overall satisfaction. Meanwhile, GEICO's A.M. Best Financial Strength Rating of A++ indicates it's well-prepared to pay your claim even after a natural disaster or economic recession.
Best for cheap coverage: Nationwide
The cheapest motorcycle insurance in Colorado comes from Nationwide, which quoted us an average yearly cost of $407 based on dozens of addresses across the state. Coverage from Nationwide isn't much different from the typical level of insurance you'd get at other companies, which is an advantage given how much less it costs in comparison. It also offers a fair number of discount opportunities for bundling your car insurance, staying accident-free and paying your annual premium upfront.
Besides being 32% cheaper than the average motorcycle insurance policy in Colorado, Nationwide carries a number of optional coverages that cost more but may be helpful if you want to protect something specific. For example, Nationwide's OEM endorsement covers parts straight from the manufacturer, not after-market alternatives, when your bike is being repaired.
However, user satisfaction seems to be one area where Nationwide isn't as strong. While its financial strength rating is a solid A+, Nationwide placed at the bottom in J.D. Power's satisfaction survey for the Southwest Region (which includes Colorado). Ultimately, we recommend Nationwide if you just want to fulfill your legal insurance requirements at the lowest cost.
Most comprehensive coverage: Progressive
If you invest serious time and money into your bikes, getting your motorcycle insurance from Progressive ensures they'll get complete protection. While it's the most expensive of the insurers we looked at in Colorado, Progressive brings you features and discounts that simply aren't available at most other companies. A few examples:
- Expanded parts coverage for custom additions
- OEM parts coverage and replacement cost coverage
- Carried contents protection for anything that flies off your bike
- Enhanced injury coverage for you and passengers
- 25% reduction in deductible for each accident-free year
While other insurers may each carry a few of these options, only Progressive offers all of them in one place. That said, expect to pay far more in Colorado with Progressive. We recorded the average price of a Progressive motorcycle policy at $817, or 36% more than the average. While this may be worthwhile if you need the best possible coverage, riders who just want liability insurance should start elsewhere.
Features and pricing aside, Progressive scores slightly better than average in terms of customer experience: The National Association of Insurance Commissioners (NAIC) recorded a complaint index of 0.91 for Progressive, which puts it just under the median score of 1.0. Finally, Progressive's massive scale and its A.M. Best rating of A+ make it a safe choice where financial stability is concerned.
Comparing Colorado motorcycle insurers by customer service quality
In looking for Colorado's best motorcycle insurance options, we recognized that simply comparing quotes and rates wouldn't capture the full picture. For an insurance customer, what happens while you have a policy is even more important than how much you pay for that policy. This is especially true if you're accepting the greater risks that come with riding a motorcycle. To evaluate insurers on this level, we turned to several different metrics.
|Insurer||NAIC Complaint Index||J.D. Power rating||A.M. Best FSR|
In our view, the most objective of these metrics was the NAIC complaint index. This number is equal to an insurer's share of consumer complaints divided by its share of the auto insurance market, measured in annual written premiums. Essentially, any insurer with a complaint index under 1.0 is receiving fewer complaints than would be expected for a business of its size.
To an extent, J.D. Power ratings also figured in our evaluations of motorcycle insurers. J.D. Power conducts consumer surveys that enable the company to analyze consumer satisfaction. In its study of auto insurance, J.D. Power factors in variables such as an insurer's variety of policy options, pricing, billing experience, service interactions and claims processing. Its overall ratings gave us an idea of how well insurers perform across these parts of the consumer experience.
Finally, we looked at the A.M. Best Financial Strength Rating of each insurer as a barometer of how well they can handle the challenge of paying claims when their financial situations become difficult. This can happen, for example, when a natural disaster triggers a massive number of claims all at once or there's a change in macroeconomics. It's relatively rare for insurers to default on their claims, but we used A.M. Best as a guide to avoid recommending any insurer likely to have problems.
The cheapest motorcycle insurance companies in Colorado
However, we also recognize that many riders see the final cost of an insurance policy as the single deciding factor in comparing their options. To help you make better decisions based on price, we've collected and compared motorcycle insurance quotes using dozens of addresses in Colorado and averaged them out for each company.
When we conducted our survey of quotes, the average cost of motorcycle insurance in Colorado was $603. However, the insurers we found offering coverage for motorcycles in this state means that your own quotes will probably vary significantly.
Colorado motorcycle insurance: Costs by city
Motorcycle insurance premiums can change from place to place. This happens because different locations have different levels of risk for riders, whether because of increased traffic or the state of local roads. To highlight the possible changes in cost, we looked at the average cost of motorcycle insurance in each of Colorado's cities.
|City||Average annual cost||Difference vs. state average|
Our numbers showed that just like in other states, motorcycle insurance in Colorado is most expensive for the largest cities. Nine out of the 10 cities with the highest premiums were located in the Denver metropolitan area. In these cities, the average cost of insuring a motorcycle was 14% to 19% higher than in the state as a whole. This is probably because denser populations lead to more road traffic, which in turn raises the risk of collision for local riders.
How much motorcycle insurance is legally required in Colorado?
Under Colorado law, riding a motorcycle requires the same amount of liability insurance as driving a car:
- $25,000 for bodily injury or death to any one person in an accident
- $50,000 for bodily injury or death to all persons in any one accident
- $15,000 for property damage in any one accident
Sometimes, insurers will show you these coverages in a slightly different format. For example, the bodily injury liability limits are often written together as "$25,000/$50,000", which simply means $25,000 per person and $50,000 per accident. These mandatory insurance requirements are meant to make sure that anyone who is responsible for causing a road accident has the ability to pay compensation to the other parties.
The legal minimum for motorcycle insurance is substantially lower than the coverages we selected in order to estimate average premiums in Colorado. We believe that liability insurance alone is usually not enough to financially protect the typical rider. The quotes we've used in comparing insurers included the extra cost of collision and comprehensive coverage for your own bike, regardless of who's at fault.
How do you get a Colorado motorcycle license?
Besides meeting the minimum insurance requirements, riding legally in Colorado requires adding a motorcycle endorsement to a valid driver's license. There are two ways to do this, both of which require you to visit a driver's license office in person.
|Method 1||Method 2|
If you're under 18, you must purchase and hold a motorcycle instruction permit for at least 12 months. After that, you may add the motorcycle endorsement to your driver's license. Obviously, the need for a regular license to start this process means that you must be at least 16 to get your motorcycle permit in Colorado.
What's the cheapest option?
MOST courses are run by private instructors who are certified by the state department of transportation (DOT), and they generally cost between $180 and $250. While this is quite a bit more expensive than simply studying for the tests by yourself, that may not be an option if you don't have a good way to practice the skills on your own. MOST courses will provide you with motorcycles and gear as part of the course fee. The professional instruction you get in a for-pay course may help you make faster progress in a safer environment.
Other motorcycle laws in Colorado: Gear, passengers and rules of the road
Like a few other states, Colorado doesn't require that you wear a helmet if you're at least 18 years old. (Minors must wear a DOT-approved helmet.) However, every rider is legally required to wear eye protection of some kind: Visors, goggles and eyeglasses all count toward this rule, while windshields do not.
If you take passengers on your bike, they must be seated either behind you on the bike or beside you in a sidecar. Passengers behind you must use passenger footrests.
In Colorado, riders are subject to all of the traffic laws that apply to cars and trucks. The Colorado DOT's website states that you cannot share a lane with another vehicle unless it's with one other motorcycle. This means that lane splitting is not allowed in Colorado.
To analyze the cost of Colorado motorcycle insurance, we collected more than 200 quotes using a hypothetical rider profile. The quotes were based on a 45-year-old man insuring a 2019 Harley-Davidson FLHX Street Glide. The driver had 20 years' experience riding motorcycles, was married and owned a home. Each of these data points can have an effect on the rate that insurers are willing to offer an individual applying for motorcycle insurance.
However, the most important variable in determining your premium are the coverage limits you select. As stated above, we chose limits that were much higher than Colorado's legal insurance requirements:
- Bodily injury liability coverage: $100,000 per person/$300,000 per accident
- Property damage liability coverage: $50,000 per accident
- Collision coverage: Included/$500 deductible
- Comprehensive coverage: Included/$500 deductible
- All other coverages: Not included
Although we don't recommend doing so, it's likely that you can find far lower motorcycle insurance premiums than we did by reducing your desired coverage to the legal minimums, which are $25,000 per person/$50,000 per accident bodily injury liability and $15,000 per accident property liability.