Best Motorcycle Insurance in Colorado

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Contributor, Benzinga
October 16, 2020

When you’re in Colorado, do you choose to cruise along Trail Ridge Road in Rocky Mountain National Park or on Mount Evans Road, the highest paved road in America? No matter which road you choose, riding a motorcycle in Colorado is a show-stopper. The only thing that may stop you from strapping on a helmet and exploring the countryside is motorcycle insurance. Let’s take a look at some of the best motorcycle insurance in Colorado and how to get them. 

The Best Motorcycle Insurance in Colorado

What is Motorcycle Insurance and How Does It Work?

Motorcycle insurance, much like car insurance, is collision coverage, property and personal liability protection for your motorcycle or accidents that happen while you're riding it. If you get into an accident and someone else is injured, your policy should cover their medical expenses. And it may cover your motorcycle if its damaged by certain perils or during certain events. These could include things like theft, weather or fire.

Colorado Motorcycle Insurance: An Overview

In Colorado, your motorcycle insurance policy must include liability insurance, which includes the following coverages: 

  • Bodily injury coverage per person: Minimum of $25,000
  • Total bodily injury coverage per incident: Minimum of $50,000
  • Property damage coverage per incident: $15,000
  • Average annual rate with a clean driving record: $534

Colorado Motorcycle Insurance Law Explained

You’re required to have motorcycle insurance in Colorado. Liability coverage covers 3rd-party injuries and property damage if you are the responsible party in an accident. 

  • You’ll need to have $25,000 per person minimum coverage — the same as if you drive any other vehicle. 
  • Colorado law also requires $50,000 for bodily injury or death coverage for all individuals involved in an accident. This means that up to $50,000 worth of expenses will be paid through your insurance toward injured parties or even in the tragic circumstance that somebody dies due to an accident you cause. 
  • You must also have $15,000 of property damage coverage for damages to your bike or other property damaged during a collision. 

There are other options available to motorcyclists in Colorado, but they aren’t required by law. Collision coverage involves damage to your motorcycle due to a collision no matter who is at fault. You can even replace your bike if it’s totaled beyond repair. There are also options that protect your motorcycle from non-collision events like floods or tornados. There are additional coverage options for motorcycle accessories if they add value to your bike like custom paint, exhaust systems and even sidecars. 

Every company has its own additional coverage options and plans, so talk with an insurance provider to see what makes the most sense for you. Our guides on motorcycle insurance are a great place to start if you’re looking for a list of reliable insurance options for your bike. 

Colorado Motorcycle Insurance Rates per Bike

Motorcycle insurance in Colorado is $534 on average, but there are a lot of factors involved when an insurance company calculates your premium each year. These factors include your driving history, age and the type of vehicle you have. 

All bikes incur different insurance rates. For example, a brand-new sporty motorcycle will cost a lot more to insure than an older touring bike. That’s because insurers take the average cost of a claim for each model into consideration. That’s similar to how a luxury foreign car costs more to insure than an old Buick. Bigger engines also lead to higher premiums. Keep these things in mind before you purchase a motorcycle. 

Motorcycle Insurance Quotes

CompanyQuote for a 1-year policyPrice Rating

Motorcycle Insurance Discounts

CompanyDiscounts OfferedOverall Rating
Transfer, multiple bike, homeowner, claims-free, anti-lock brake, safety course, motorcycle driver’s license4.3
GEICOTransfer, multiple bike, loyalty, homeowner, rider experience, anti-theft, safety course5
DairylandMultiple bike, loyalty, homeowner, riding group, safety course4.7
Harley-DavidsonMultiple bike, loyalty, homeowner, riding group, claims-free, rider experience, anti-theft, safety course, motorcycle driver’s license3.7
NationwideMultiple bike, homeowner, riding group, anti-lock brake, safety course4.7

Best Motorcycle Insurance Providers in Colorado

All of the big players in the insurance world offer great motorcycle insurance coverage in Colorado. Of course, some are better for your specific needs than others. Let’s take a look at some of the insurance providers that make the most sense for you. 

Nationwide Motorcycle Insurance
Best For
  • High-risk rider rates

1. Most Affordable in Colorado: Nationwide

Nationwide offers the cheapest motorcycle insurance in Colorado — its average yearly cost is just $407 in Colorado. You can bundle car insurance, stay accident-free and get additional discounts on your premium. Paying your annual premium upfront will make the yearly cost go down even more. 

Despite its affordable rate, Nationwide has similar coverage compared to higher-priced alternatives in Colorado. The low cost makes it more than possible to take advantage of optional coverage options without going over budget, such as Nationwide’s OEM endorsement. This covers parts from the manufacturer when you have your bike repaired. Check out more about Nationwide and other cost-effective policies for cheap motorcycle insurance

Best For
  • Drivers with consistently good driving habits

2. Best for Comprehensive Coverage: Progressive

Progressive might not be the cheapest option compared to its competitors. But for motorcycle enthusiasts, Progressive is a great fit thanks to its complete protection and many additional features: 

  • OEM parts coverage and replacement cost coverage
  • Additional parts coverage for customized bikes
  • Further injury coverage for you and your passengers
  • 25% deductible reduction for each year you go without an accident
Dairyland Motorcycle Insurance
Best For
  • Affordable coverage

3. Best for Customer Service: Dairyland

Dairyland has an NAIC complaint index of 0.20, which means that it’s well below the number of complaints that companies of its size usually receive. Dairyland does not a robust number of complaints compared to other companies in the field.

Dairyland also has an AM Best Financial Strength Rating of A+, so Dairyland will pay claims no matter the circumstance. 

Harley Davidson Motorcycle Insurance
Best For
  • Comprehensive coverage/Business Owners' Policy

4. Best for Specific Motorcycle Models: Harley-Davidson

Harley-Davidson is one of the more expensive motorcycle insurance options in Colorado, but the company covers all motorcycles, not just Harley-Davidson models. Harley-Davidson also offers coverage for your optional equipment and safety gear. 

Enjoy the Colorado Scenery 

There’s nothing quite like exploring the mountains by motorcycle. Relax and enjoy those rides without worrying about motorcycle insurance. Check out each company on our list and get an online quote. Enter some basic information and you can compare plans that fit you and your ride best.

Money-saving Motorcycle Insurance

Harley-Davidson Insurance Services provides services as a trusted motorcycle insurance agency that knows all about the motorcycle lifestyle. The company stands behind its policies with industry-leading services, coverage and support. You’ll also get money-saving motorcycle insurance discounts and experienced customer service and claims support. 

You can get Harley-Davidson Insurance today with a free, quick quote.