Colorado Auto Insurance

Auto insurance in Colorado

A valid car insurance policy is imposed by the law, helping vehicle owners to stay protected should an accident occur. No matter if you are using the car for professional or personal purposes, adequate insurance is mandatory. Should you drive a vehicle without such a policy, you can expect to pay a fine of up to $1,000 or have your driving documents suspended. According to law, both the driver's license and the vehicle registration can be suspended for up to six months. If you are interested in reading more on the topic of car insurance in the state of Colorado, be sure to keep on reading.

What type of car insurance do you legally need in Colorado?

According to current insurance laws, all Colorado residents who operate a moving vehicle must have a valid insurance policy. The lapse in the mandatory liability insurance presents a definite chance of suspension and additional fines. Most states, including Colorado, have an online insurance verification system. This is used to ascertain whether a vehicle is insured or not.

For a vehicle to be allowed to operate in the state of Colorado, the respective auto insurance must comply with various requirements. These include: bodily injury liability ($50,000 per accident and $25,000 per person), property damage liability ($15,000 per person), and uninsured motorist bodily injury ($50,000 per accident and $25,000 per person), medical payments ($5,000 per accident). The full coverage insurance offers superior protection, in comparison to the minimum liability coverage. Optional coverages include comprehensive and collision. It is recommended to choose a higher liability coverage limit than the one imposed by the law in Colorado. As a result, you will be protected in case of any possible situation.

The sums you see mentioned above refers to the amount insurance providers can pay, should an at-fault accident occur. Drivers are obliged under law to carry a copy of the insurance policy while driving. It is illegal to drive without insurance in Colorado, consequences including legal fines and the suspension of the driving documents. If the driver in question continues to drive without a valid insurance policy, jail time becomes a definite possibility.

Average cost of auto insurance in Colorado

How much does car insurance cost in CO? The state minimum auto insurance policy in Colorado has a value of $512. However, a full coverage insurance policy has an average value of $1,950. Insurance policies do not always include options, such as collision and comprehensive coverage; it is for the best to calculate your budget accordingly. Several factors influence the overall insurance rates, including: type of vehicle, marital status, age, gender, presence of prior insurance, number of miles driven, location, driving record. The recommendation is to select an insurance policy that offers the best possible coverage, not the one that is cheap.

Each states has its own insurance rates to offer, with notable differences between them. You can expect differences for both the minimum and full coverage, especially if you are going to opt for the additional coverages (comprehensive, collision, etc.). Factors that influence these values include: weather-related accidents, at-fault accidents, number of drivers in accordance with the general population, uninsured drivers in the respective location, road conditions, etc.

The average cost of auto insurance in Colorado is significantly higher than the national average, which is around $1,770. The states with the most expensive auto insurance policies include: Pennsylvania, New York, Nevada, Michigan, Louisiana, Florida, Colorado, and California. As for the most affordable states, these are: Wisconsin, Washington, Tennessee, Oregon, North Dakota, New Mexico, Nebraska, and Maine. New York is among the most expensive states, with $1,339 for the minimum coverage and $2,996 for the full one. Maine has the most affordable rates for auto insurance, with $227 for the minimum coverage and $876 for the full one.

There are differences between various cities within the state of Colorado as well. Fort Collins has some of the most affordable annual premiums, while Aurora is among the most expensive. The overall costs are as follows: Fort Collins - $1,915; Lakewood - $2,320; Colorado Springs - $2,392; Denver - $2,396; Aurora - $2,466.

Several factors influence the value of the auto insurance policy, starting with the age of the driver. The younger the driver, the higher the value of the insurance policy is going to be, as young drivers are seen as less responsible by insurance providers. Teenage drivers usually pay annual premiums that go over $7,700, while a middle-aged driver is accustomed to a policy of around $2,000. Gender differences are present as well, with men enjoying more affordable policies. Married couples have great rates as well, in comparison to those who are widowed, divorced, or single.

Another major factor considered is the driver's credit history. A driver with an exceptional credit can save important sums on his/her annual premium, while one with a poor credit history can expect significantly higher rates. The premium value is also increased if one has prior driving offenses, such as speeding, at-fault accidents, reckless driving, DUI/DWI, etc. In calculating the value of a potential coverage policy, the type of coverage will play a role as well. Vehicle owners are encouraged to add both comprehensive and collision coverage to the state minimum policy, as this offers superior protection in case of accidents.

Did not find your city or county on the list? Please use our auto insurance companies search box at the top to locate all the best auto insurance quotes in Colorado. Find car insurance in Colorado by city, zip code or county name.

Finding the right auto insurance in Colorado

If you are having a hard time finding the right insurance policy, you should consider our expert assistance. Backed by years of experience and knowledge, we are more than pleased to match vehicle owners with the best auto insurance policies for their needs. In suggesting an auto insurance policy, we consider both your needs and the available budget. Just give us a call and we will offer all the support you need. We would also like to remind you that the service is 100% free, saving you both time and energy. In this way, you will have more time available to focus on other important things. Also, should you desire to discuss additional details about auto insurance, we are happy to discuss these as well.