Colorado car insurance premiums tend to be more costly than the national average, though not as costly as some of the country’s more costly states. On average, full-coverage policies in Colorado cost around $1,435 annually while minimum coverage costs $922; this figure may differ significantly based on many different factors that could potentially alter or change them significantly.
Driving history and record are an extremely critical component in setting insurance premiums. A DUI charge will result in significantly increased rates from insurers; even without being involved in accidents or receiving traffic violations, your driving history can still influence how much premium you pay.
Your vehicle’s make and model may also play a factor, depending on its crash ratings, repair costs and theft risk. In general, safer vehicles tend to have cheaper insurance premiums. Your time on the road may also have an effect; longer commutes increase risk.
Credit scores play an integral part in your auto insurance premiums. Drivers with poor credit often pay 77% more than drivers with excellent credit for car insurance; conversely, having good credit could reduce it up to 17 percent! State Farm provides excellent rates for both minimum coverage policies and full coverage policies to drivers with poor credit.
Age and gender are both key aspects that influence car insurance rates, with younger drivers and men typically paying more. However, age and gender don’t use rating factors across all states; Hawaii and Massachusetts don’t allow insurance companies to use age as a rating factor while California, Michigan North Carolina Pennsylvania don’t use either gender as rating factors either.
Marital status can have an effectful influence on your rates as well. On average, married drivers tend to pay lower premiums than single drivers; State Farm provides some of the cheapest quotes in Colorado at about $1,089 annually ($91 monthly). Geico and USAA are other reliable providers with competitive quotes for married drivers.
Your city of residence can have an effect on your car insurance rates, such as higher accident and repair rates or costs associated with healthcare in certain areas, which in turn drive up insurance costs. We analyzed data from five key cities throughout Colorado to understand how they compare in terms of car insurance prices and coverage options based on various criteria, including average monthly rates, Insurify quality (IQ) scores for each company as well as our proprietary scoring system which ranks them. With this knowledge in hand, it helps you locate top-rated car insurers suited specifically to you based on individual circumstances and preferences.