Finding car insurance that fits both cost and coverage levels is key. Finding an adequate amount of protection can save money while giving drivers peace of mind. Although Colorado mandates minimum levels of car insurance coverage for all drivers, most elect to add comprehensive and collision protection in addition to this minimum policy to provide more robust protection from natural disasters, at-fault accidents, theft and vandalism. Finding an appropriate mix can be a difficult challenge; but our car insurance calculator can assist in selecting an individualized policy to fit your budget needs.
Colorado residents pay an average annual premium for full coverage auto policies of $1,860 annually – slightly higher than the national average of $1,730. It is therefore imperative that they research quotes from multiple insurers across Colorado before selecting one to go with. MoneyGeek’s car insurance calculator can assist them in quickly identifying which providers offer affordable policies.
Our calculator takes into account all of the major factors that impact car insurance premiums, including driving record, credit score and age. Teen drivers in Colorado typically pay significantly higher premiums due to inexperienced driving habits such as distracted driving or inadequately scanning of their environment. A DUI conviction can increase annual rates up to 66% over having a clean record.
Location can impact a driver’s rates in several ways, depending on whether they live in an area with high rates of traffic accidents, vehicle theft and weather hazards. In general, drivers in larger cities such as Denver or Colorado Springs tend to pay more for car insurance than those living outside these regions.
Marital status and homeownership can also have a dramatic impact on the cost of your premiums. Married drivers typically pay about 4% less than single people due to being perceived as lower-risk customers by insurers; on the other hand, adding children onto your policy could significantly raise rates because the insurer considers you a higher-risk driver.
One more factor affecting car insurance rates for drivers is their credit score. Typically speaking, the lower your credit score is, the more car insurance will cost; however there are companies who specialize in offering affordable policies to drivers with poor credit.
MoneyGeek car insurance calculator can assist with any life event by helping find you the ideal policy at an affordable price. Our calculator analyzes your specific needs and presents you with options from major providers like GEICO and State Farm as well as local providers offering similar policies but at more competitive prices; don’t forget to compare costs from smaller regional companies as they could offer the same coverage at more cost-effective prices; just be sure that they provide coverage you require as well as discounts for bundling policies together or being safe drivers.