Best cheap auto insurance in Colombia for 2021
Auto insurance protects your finances in the event of a car accident. In Columbia, Missouri, every driver is required to purchase a minimum amount of auto insurance. The average cost of auto insurance in Colombia is $ 455 for a minimum coverage policy and $ 1,501 for a full coverage policy, according to Bankrate’s 2021 Annual Quoted Premiums Study.
To find the best cheap auto insurance in Colombia, we’ve looked at the best auto insurance companies in Missouri and looked at each based on average rate, coverage options, third party ratings, and more.
Best car insurance companies in Colombia
Based on our findings, the best auto insurance companies in Colombia are Geico, USAA, Shelter, Progressive, and State Farm. These vendors have above-average customer satisfaction ratings from JD Power and excellent financial strength ratings from AM Best. They also have good coverage options and discounts available for additional savings.
|Insurance company||JD Power 2021 Auto Insurance Study Score||Average annual premium for minimum coverage||Average annual premium for full coverage|
|United States||897/1000||$ 275||$ 1,003|
|Progressive||837/1000||$ 463||$ 1,322|
|State farm||847/1000||$ 461||$ 1,365|
|Geico||845/1000||$ 429||$ 1,509|
|Shelter||856/1000||$ 649||$ 1,888|
* USAA is not officially ranked by JD Power due to eligibility restrictions.
USAA is intended exclusively for military personnel, both active and retired, and their immediate families. Columbia drivers eligible for USAA auto insurance can take advantage of the company’s affordable rates, excellent customer service, and generous discounts. There are savings for good students, safe drivers, parking your vehicle on the base, infrequent driving, and being a historical customer, among other things. The company also regularly receives high marks from JD Power, although it is not officially ranked due to its eligibility restrictions.
Learn more: USAA Insurance Review
Progressive could be considered one of the best auto insurance companies in Colombia on our list for drivers looking for generous discounts. The insurance company offers special savings for teen drivers, by paying in full, bundling your policies, owning and more. Progressive also stands out for its online tools, such as the Name Your Price Tool and the competitor price comparison.
Learn more: Gradual insurance review
State Farm is the nation’s largest auto insurance company. In addition to the low rates, State Farm also offers good coverage options and several safe driver rewards programs. Drivers under 25 can enroll in the Steer Clear program, and drivers over 25 can enroll in the Drive Safe & Save program for a lower rate. State Farm is also highly regarded for its customer service by JD Power.
Learn more: State agricultural insurance review
Geico offers basic auto insurance coverage, but arguably offers some of the best auto insurance discounts on the market. The insurance company offers unique savings opportunities for military personnel, including emergency deployment, as well as federal employees, affinity groups and having a vehicle with advanced security features . Drivers can also sign up for DriveEasy, Geico’s safe driver rewards program, to get a discount.
Learn more: Geico Insurance Review
Shelter is one of the best options on our list for Columbia drivers who want to customize their policy with endorsements. With Shelter, you can add rental car reimbursement, ridesharing coverage, gap insurance, disability coverage, accidental death coverage, and new car replacement coverage, and a few more. Shelter also offers a wide selection of discounts and is ranked among the top carriers on our list in the JD Power Annual Customer Satisfaction Survey.
Learn more: Shelter insurance review
The cheapest auto insurance in Colombia
The average auto insurance premium in Colombia is $ 1,501 for a full coverage policy and $ 455 for a minimum coverage policy. Columbia drivers generally pay less for auto insurance than the average Missouri driver. In comparison, the average cost of auto insurance in Missouri is $ 1,661 per year for full coverage insurance, which is about 2.74% higher than the US national average rate of $ 1,674 per year.
Auto insurance companies in Colombia (and everywhere else) each charge a different rate for coverage, and your actual rates will be based on several factors. The table below includes the cheapest auto insurance in Colombia from some of the biggest carriers based on market share.
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
|United States||$ 275||$ 1,003|
|Geico||$ 429||$ 1,509|
|State farm||$ 461||$ 1,365|
|Progressive||$ 463||$ 1,322|
|Farmers||$ 476||$ 1,234|
Besides the price, these vendors have differentiating factors that set them apart. For example, USAA is the only company that has eligibility requirements. Geico and Progressive offer some of the best discounts. If you are looking for specific endorsements, your best option might be farmers. In terms of customer satisfaction, all of the companies on our list except Progressive rank above average in JD Power’s most recent Central Region Auto Insurance Study.
Colombia Insurance Requirements
Auto insurance is a legal requirement in Missouri. Drivers must take out at least 25/50/10 third party liability insurance, which includes the following coverages:
- $ 25,000 for bodily injury liability per person
- $ 50,000 for accidental bodily injury liability
- $ 10,000 for accidental property damage liability
Drivers looking for cheap car insurance in Missouri might be tempted to get a minimum coverage policy to keep costs down. However, it may not be the wisest decision for your financial protection to focus on the least coverage for the lowest rate.
There is no guarantee that a minimum coverage policy will cover the full cost of the damage to the other driver if you cause an accident, which could leave you legally and financially liable for some damage. The minimum coverage will also not pay for damage to your car. Additionally, drivers who lease or finance their vehicle are generally required to have a full coverage policy until their loan is paid off.
Discounts on auto insurance in Colombia
Choosing a cheap auto insurance company is one way to get a low rate. Plus, most insurance companies in Colombia offer discounts to help drivers save even more. Some of the more popular discounts include:
- Defensive driving course discount: If you take an approved defensive driving course, many insurance companies will give you a discount.
- Policy bundle discount: Drivers who bundle their auto and home or tenant insurance policies with the same insurance company can often benefit from a significant discount on their premium.
- Discount on paperless billing: Some insurance companies offer a small discount for signing up for paperless billing and policy statements.
- Multi-vehicle discount: If you have more than one vehicle, insuring them on the same policy can usually help save you money.
Frequently Asked Questions
What is the best auto insurance company?
The best auto insurance company varies and is different for every driver. The best business depends on where you live, the coverage you need, your budget, and the discounts you can qualify for. You may want to start by shopping around and requesting quotes from multiple companies for the same coverage to see what your options are.
How much car insurance do I need in Colombia?
Drivers in Columbia, Missouri, are legally required to carry liability insurance at least 25/50/10. However, you may want to consider purchasing a higher amount of coverage for additional protection in the event of an at-fault accident or any other claim. Speak with a licensed insurance agent to determine the amount of auto insurance that is right for your specific needs.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:
- $ 100,000 liability for bodily injury per person
- $ 300,000 liability for bodily injury per accident
- Civil liability for property damage of $ 50,000 per accident
- $ 100,000 in bodily injury caused by an uninsured motorist per person
- $ 300,000 in uninsured bodily injury per accident to a motorist
- $ 500 collision deductible
- Global deductible of $ 500
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.
These are sample rates and should be used for comparison purposes only.