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This page outlines the latest statistics pertaining to car insurance in the state of Colorado. Here's how to customize the cheapest auto insurance policy for your individual needs.
For drivers in Colorado, state law requires a minimum auto insurance coverage of 25/50/15 per vehicle.
This means $25,000 in Personal Injury Protection for the driver, $50,000 to cover the cost of death or injury to others, and $15,000 against property damage.
In the state of Colorado, drivers must also purchase $5,000 in MedPay coverage, to ensure access to medical treatment in the event of an accident.
Nonetheless, researchers at the Insurance Information Institute point out that state minimum payouts are not always enough to cover the actual cost of an accident.
This is why they recommend at least 100/300 coverage for each car owned in America.
Driving an uninsured vehicle in Colorado results in a $500 fine
and four points on the driving record for a first offense.
Penalties escalate with each repeat violation. Fines can be as high as a thousand dollars, and are often accompanied by license suspension and community service.
Still, estimates suggest that more than 13% of vehicles on Colorado roads are uninsured.
The Average Annual Auto Insurance Premium in Colorado was $860 in 2018, a bit lower than the national average, which was around $947 at the time.
In general, car insurance premiums are affected by site-specific factors like local weather, topography, economy, percentage of uninsured vehicles on the road, population density, and crime statistics, to name only a few.
Other factors influencing annual premiums are personal demographics like the age, gender, driving record, criminal record, lifestyle, and vehicle owned by the policy holder.
Colorado car insurance
carriers are known to offer various discounts to encourage good driving practices. For instance,
Other cost-cutting car insurance programs include the Multiple Auto Discount, the Multiple Policy discount, the Defensive Driving Course discount, the Passive Restraint discount, and the Vehicle Safety
Discount, to name a few.
Ask your local car insurance agent for full details about discounts on car insurance in the state of Colorado.
Grabbing every possible discount is the biggest way to lower the cost of Colorado car insurance.
According to recent consumer reports, Colorado car owners generally prefer
in that order, although many Colorado drivers opt for smaller, regional carriers.
Colorado is home to countless car insurance companies, each of them offering locally competitive rates.
Just call several companies and get a few free online quotes.
Then call a few agents and specifically ask about their discount programs.
After figuring in the discounts, simply compare quotes and choose the cheapest premium package that has what you need. There's no reason to pay more than you have to for car insurance.
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