Colorado Motorcycle Insurance: Costs, Laws, and Quotes
Colorado motorcyclists need to have a minimum amount of insurance before hitting the road. Here’s what you should know.
Written by Melanie Krieps Mergen
Reviewed by Bellina Gaskey
Motorcycle insurance
in Colorado
generally costs between $300 and $500 per year, which is just under the national average.- All Colorado motorcyclists are required to have a minimum amount of liability insurance coverage before hitting the road.
- Motorcycle insurance in Colorado is usually less expensive than the national average.
- Companies like Nationwide offer some of the lowest rates to Colorado motorcyclists. To find the best rate for your coverage, shop around for quotes from at least 3-5 providers.
- All Colorado motorcyclists are required to have a minimum amount of liability insurance coverage before hitting the road.
- Motorcycle insurance in Colorado is usually less expensive than the national average.
- Companies like Nationwide offer some of the lowest rates to Colorado motorcyclists. To find the best rate for your coverage, shop around for quotes from at least 3-5 providers.
How to find cheap motorcycle insurance quotes in Colorado
One of the most effective ways to find an affordable motorcycle insurance policy is to request quotes from various insurance companies.
It’s a good idea to try and get at least three quotes, then compare their coverage offerings and costs to pick your ideal policy.
Average cost of motorcycle insurance in Colorado
The average cost of full coverage motorcycle insurance in Colorado generally falls between $300 and $500 per year, or about $30 to $42 per month. That’s under the national average of $519 per year.
Cheapest companies for full coverage Colorado motorcycle insurance
Here’s a look at how the rates of some of Colorado’s cheapest motorcycle insurance providers compare. The rates below are based on a high level of coverage, including high liability coverage limits,
collision coverage
, and comprehensive coverage
. Insurer | Average annual rate for full coverage |
|---|---|
$609 | |
GEICO | $565 |
$521 | |
Markel | $895 |
$508 |
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What your motorcycle insurance rates look like will be highly dependent on a range of factors—like the type of bike your ride, its value, your ZIP code, your driving record, your age, your claims history, and more.
Are motorcycles cheaper to insure than cars?
The price of a motorcycle insurance premium can start to look a lot closer to a car insurance premium under certain circumstances—such as if you have a high level of coverage or live in a high-risk area.
But when you’re looking at average costs, the
average full-coverage car insurance cost in Colorado
is about $2,900 a year, which is considerably more than it would cost for a motorcycle.Colorado motorcycle insurance coverage requirements
Colorado's car insurance requirements
dictate that your motorcycle insurance policy must have at least: - $50,000 of bodily injury liability insurance per accident
You can choose to stick with these minimum coverage amounts, but they won’t pay for any damages to you or your bike in an accident.
What should a basic motorcycle insurance policy cover?
A liability-only insurance policy won’t cover your bike after an accident. For that, you’ll want full coverage, which typically adds both collision coverage and comprehensive coverage.
But that’s only scratching the surface of what’s available—your motorcycle insurance policy can also protect custom parts and special equipment, get you towing after a breakdown, or help you replace your bike after a total loss.
As you weigh your options, here are some additional coverage types:
- Uninsured motorist coverage
- Medical payments (MedPay), if available
- Custom parts and equipment (CPE) coveragefor your modified ride
- Roadside assistance ortowing and labor coverage
- Carried contents and personal belongings coverage
- Total loss coverage
Despite the lower monthly cost, a low-coverage policy can cost you far more in the long run—especially if you have to reckon with steep repair costs and medical bills after a serious accident.
The best companies for Colorado motorcycle insurance
It can be hard to know where to start if you’re looking for a Colorado motorcycle insurance policy. In the interest of saving you a little more time, we’ve rounded up some of the state’s top providers.
1. Best for robust coverage: Progressive
The good: Low rates, wide range of coverages and discounts
AM Best rating: A+ (Superior)
BBB rating: A+ (not BBB-accredited)
Jerry’s rating: 84/100
Progressive offers competitive rates for motorcycle insurance and a longer list of discounts than most, which can help riders save even more.
They also have a wider-than-average selection of optional coverages, including total loss coverage, roadside assistance, and Carried Contents, which protects personal belongings you might have taken along with you on your ride.
If you also have car insurance through Progressive, you could see even lower rates on both policies.
2. Best for cheap rates: Nationwide
The good: Generally low rates, good financial stability
AM Best rating: A+ (Superior)
BBB rating: A+
Jerry’s rating: 85/100
If finding the cheapest possible rate for coverage is your top priority, you might have luck with Nationwide, which tends to offer some of the cheapest motorcycle insurance rates in Colorado.
Its coverage options are pretty typical of what you’d find with other insurance providers, too.
Liability insurance, collision insurance, comprehensive insurance, and uninsured/underinsured motorist insurance are all on offer. OEM coverage, custom equipment protection, and OEM endorsements are available as well.
3. Best for everyday bikers: Dairyland
The good: Range of coverage options that can benefit everyday riders
AM Best rating: A+ (Superior)
BBB rating: A+ (not BBB-accredited)
Jerry’s rating: 82/100
The coverage types Dairyland offers can be particularly beneficial for riders who use their motorcycles as their primary way of getting around.
They offer rental reimbursement coverage, which can help you cover the costs of a rental vehicle while your bike is getting repaired at the auto shop for a covered reason. Their available replacement cost coverage also lasts three years, as opposed to being mileage-based, as some other providers require.
That extra coverage can come at a cost, as Dairyland tends to have rates that are more expensive than average.
4. Best for enthusiasts: Markel
The good: Good protection options for custom bikes
AM Best rating: A
BBB rating: A- (not BBB-accredited)
Jerry’s rating: 85/100
If you live and breathe motorcycles or have a custom bike, it’s worth seeking out a quote from Markel. They offer up to $30,000 in accessory coverage, plus other convenient options like mechanical breakdown coverage, trailer coverage, and roadside assistance.
One drawback: Markel doesn’t sell coverage for car insurance (unless we’re talking classic cars), so if you were hoping to bundle policies with your everyday vehicle, you won’t be able to do that with this company.
“I was tired of looking around multiple websites, so I decided to giveJerrya try. Let me tell you—the process is so easy and simple, and they really find you the best prices for your coverage level. Getting insurance for my new car was quick and easy!” —Joanna D.
Methodology
In order to rate motorcycle insurance companies in Colorado, we collected public data and rated each company on four factors: (1) average cost of insurance, (2) customer satisfaction as measured by the Better Business Bureau (BBB) and NAIC index, (3) coverage options, and (4) financial stability as measured by AM Best.
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