Are you curious to learn more about Colorado car insurance rates? Our Car Insurance Calculator can assist. It estimates your monthly premiums based on your driving history and credit score, plus it gives personalized recommendations on which carriers may save you the most money.
The cost of car insurance varies by driver and vehicle, but on average Colorado offers full coverage at $2,019 annually (based on our analysis of over 100 providers). This rate is higher than the national average but lower than other states such as Utah ($1,510) and Wyoming ($1,582). Drivers may save money by switching insurers or lowering their deductibles.
It is essential to purchase enough car insurance in Colorado in order to safeguard your assets and minimize financial loss in case of an accident. In order to do this, you’ll need to understand Colorado’s requirements for liability and property damage coverage as well as additional types of coverage available to purchase.
Add uninsured motorist coverage to your policy for extra protection in case of a crash with an uninsured driver. This is particularly beneficial if you live in an area prone to severe weather events or with many uninsured drivers.
Insurers use a range of factors to calculate your premiums, including age, gender, marital status and credit history. Those with poor credit may see their rates go up significantly.
Your age and driving history are also factors in determining your auto insurance rates, particularly if you’re a teen or new driver. In Colorado, on average, teen drivers pay more than three times the national average for car insurance.
A good credit score is an important factor when it comes to your insurance costs, since many carriers view those with low scores as higher-risk drivers. In Colorado, those with poor credit can expect to pay 52% more than those with excellent ratings.
Always shop around for the best deal on auto insurance. This may take some time, but it’s essential for protecting your wallet.
State minimum coverage may not be enough to cover all expenses resulting from an accident, so it’s wise to purchase additional coverage. Liability limits are one important component of this equation and increasing them can drastically reduce your insurance costs.
Comprehensive and collision coverage are not mandatory in Colorado, but they can help cover repairs if your car is damaged due to a natural disaster or another event. Adding them will increase your premium by two times, but if your car is worth less than $10,000 then it may not be worth the expense if it doesn’t need the extra coverage.
State Farm is your go-to company if you need affordable quotes and reliable customer service. Not only does this carrier have the lowest rates for Colorado residents, but it’s one of the top 10 auto insurers nationwide as well. Plus, State Farm boasts an impressive Bankrate Score which measures financial strength, affordability, customer experience as well as online and mobile policy management tools.