Top 5 Car Insurance Companies In Colorado Based on Market Share
Colorado is considered to be one of the least expensive states to buy car insurance in the United States with an average rate of car insurance of $1300. Depending on your car insurance provider, driver history, age, and location, residents in Colorado could pay as low as $900 and as high as $1700 in car insurance premiums. Residents in Colorado cities like Denver and Boulder, can save as much as $500 p.a. and $400 p.a. respectively by simply comparing car insurance quotes and reviews. Zimlon lists the top car insurance companies according to their market share in Colorado.
State Farm- Taking the most significant cut in the market share for car insurance premiums in Colorado is State Farm. Considered to be financially stable and nationally recognized, multi-billion-dollar insurance company, State Farm has a market share of 17.9% with 540,738 direct premiums written and 549,542 direct premiums earned. Moreover, cementing their market position is the A.M. Best rating of A++.
Progressive- With over 345,193 direct premiums earned and 329,596 direct premiums earned, Progressive is one of the most popular insurance providers in Colorado. The company has a market share of 11.4% and an A.M. Best rating of A+.
GEICO- Insurance heavyweight, GEICO has a market share of 9.9% in Colorado. The insurer recorded 300,380 in direct premiums written, and 298,560 direct premiums earned. The multi-line insurer also has a favorable rating of A+ awarded by A.M. Best.
USAA- Registering a market share of 9.1% is USAA. The company has written 276,262 in direct premiums, and 272,234 direct premiums earned. Considered to be the best in car insurance for active and retired military members, USAA boasts some of the highest financial strength ratings in the insurance industry, including an A.M. Best rating of A++.
Allstate- Rounding up the list with a market share of 8.8% in Colorado is Allstate. The company is responsible for 266,066 direct premiums written, and 256,764 direct premiums earned. Known for their coverage options and discounts, Allstate has an A.M. Best rating of A+.