Though Colorado law mandates drivers carry liability auto insurance to cover any damage or injuries they cause in an accident, it is wise to purchase more coverage than what is legally mandated. A serious collision could easily exceed your maximum policy limits and many drivers opt for collision and comprehensive policies as well.
Luckily, Colorado drivers can find reliable car insurance policies at low rates from some of the best car insurance providers. GEICO and American Family are two of the more cost-effective policies with rates below the national average; anyone seeking additional savings should consider switching providers as the cheapest coverage may differ greatly depending on individual driver profiles.
The main factors affecting Colorado car insurance rates are your driving safety record and coverage options you select. Drivers with spotless records often enjoy lower car insurance premiums while those with tickets or at-fault accidents pay more; drivers convicted of DUI typically incur premium increases of 58 percent higher for full coverage coverage compared to drivers without such records.
Your credit score plays a significant role in how much car insurance costs in Colorado. Insurers use it as one of the primary factors when calculating risk profiles; generally speaking, having higher credit scores indicates you pose less of a threat than others.
As a general rule, male drivers typically see greater increases in their car insurance rate after receiving a speeding ticket than female drivers due to statistical evidence that indicates riskier driving behavior on their part. The extent of any rate increase due to speeding tickets depends mostly upon how long it’s been since your last offense occurred.
Another key element that affects Colorado car insurance rates is the type of vehicle you drive. Vehicles equipped with high safety features, like anti-lock brakes, airbags and electronic stability control tend to have lower premiums than those without these features; similarly, those equipped with manual transmission typically see lower rates than their automatic counterparts.
As well as taking into account your individual driving profile, our Colorado car insurance calculator also considers your location, year, make and model of vehicle when providing estimated insurance premiums. For instance, Denver drivers might experience more costly rates than rural residents.
After taking all these factors into consideration, our car insurance calculator shows that GEICO provides the cheapest Colorado car insurance policy for most drivers, especially those with good credit and offers such as discounts and competitive rates.