Car insurance rates in Colorado can be a bit higher than neighboring states. This is because of the high accident rate in the state. However, there are ways to make sure you’re not paying too much for your coverage. You can start by shopping around. If you need to, use a car insurance calculator to find the cheapest company to insure your vehicle.
Insurance companies in Colorado look at several factors to determine your premiums. The amount of coverage you buy will also affect your car insurance costs. In addition, you should consider your driving habits. Drivers with good credit have the cheapest insurance.
The minimum limits required by law for liability and bodily injury protection are $25,000 per person and $50,000 per accident. This means that if you’re involved in an accident, you’ll be covered for your medical expenses, as well as those of the other drivers.
For full coverage, you’ll need to purchase more than the minimum state requirements. In fact, it’s recommended that you buy at least $100,000 in bodily injury protection and uninsured motorist coverage. Depending on your situation, you may need to increase your limits.
If you have a history of violations, you’ll pay more for car insurance. Moreover, a minor speeding ticket can raise your premium by as much as 21%.
If you’re under the age of 25, you’ll also pay more for your car insurance. Young drivers are more likely to get into accidents, and car insurance companies know that. Even if you’re a safe driver, your age, marital status, and driving record will all play a role in your premium. It’s best to shop around to find the best rate.
Young drivers can also have their rates raised by their car models. A Ford F-150, for example, is a truck that can cause serious damage in a crash. Those who drive a more conservative car, such as a Subaru Outback, can also save money.
Another factor that will affect your Colorado car insurance premium is how often you drive. In fact, the longer your commute, the more likely it is that you’ll get into an accident. Also, more cars on the road means more accidents.
Finally, your age, credit score, and driving history will all impact your premiums. If you’ve had multiple moving violations, tickets, or accidents, you’re considered a high-risk driver. When an insurance company calculates your premium, they will look at the cost of your repairs and totaling your car. Your credit score will help them judge the likelihood of you filing a claim.
With all of these variables in mind, you should be able to find a suitable car insurance policy. The average cost of coverage in Colorado is $1,830 a year. If you’re looking for the lowest rates, you might want to check out MoneyGeek’s car insurance calculator. They offer a sample driver profile to give you a better idea of how much you’ll be charged. Their analysis of the cheapest car insurance in Colorado shows you which companies are offering the best coverage at the most affordable prices.