Nearly 3 million licensed drivers can get affordable car insurance rates in Colorado for state required minimum liability coverage. However, full coverage policies cost slightly more than the country average. Ratio of uninsured drivers is at 16.3%, which is 23% higher than the US average. The Centennial State has the lowest automobile ownership in the US with only 1/4 of the population owning a vehicle. But this may not be surprising considering a large portion of the population live in the large metropolitan areas around Denver where public transport is said to be easy, inexpensive and convenient.
The state appears to have quite a few DUI cases coming up in the courts especially in Denver. If you are slightly over the limits you may be charged with DUI here. You should be extra careful not to turn a drink with a meal into two or three and get behind the wheel. There is a high chance you will get caught and brought in front of a judge. Obviously it will have far reaching consequences in terms of vehicle insurance rates in the next 10 years as every company you apply to will be able to see it in your driving record.
Colorado Auto Insurance Laws
Here are the minimum required liability limits;
- $25,000 for bodily injury or death per person.
- $50,000 total for bodily injury or death per accident.
- $15,000 for property damage.
For further details you can check state website. Red light cameras are common in this state so you need to be extra careful. The maximum penalty for a violation is $75.
The Centennial State has one of the highest auto theft numbers in the country. So, you may want to arrange a full coverage policy that includes Comprehensive, Collision and decent level of Liability coverage may be favorable, if you can afford it. Comprehensive coverage pays for stolen automobiles, fire, vandalism and acts of nature as well collision with wildlife. If you have the right auto insurance coverage, you can enjoy driving through breathtaking scenery, mountain roads and long scenic routes here more comfortably.
Vehicle Insurance Prices in Colorado
The average premium for state required minimum liability only coverage is $500 in the Centennial State and it is $122 lower than the US average. On the other hand, the average full coverage auto insurance premium is $2,121, which is $107 higher than the country average.
Motorists may have to pay over 4 times more to get full coverage but they clearly get a lot more for their money and therefore may be worth paying the premium, especially when the vehicle is fairly new.
Cheapest Car Insurers in Colorado
It has a very competitive market that consists of nationally-known and local carriers. Generally, good competition keeps prices low for everyone. However, policyholders who shop around save a lot more than the ones who haven’t gotten alternative quotes for years. You should regularly check for the lowest rates by getting multiple vehicle insurance quotes and start with below companies, which are the most competitive in CO.
- GEICO, $786
- Grange, $820
- State Farm, $910
Automobile Insurance Denver CO
The Mile High City rates are about 30% higher than average. This should encourage you to search for cheap prices in the capital because you can save a few bucks. For example, one of the above 3 companies can reduce premiums 30% on average in most cities including Denver Metro, Colorado Springs, Aurora and Lakewood. That is why motorists are advised not to buy a policy without checking their alternatives to make sure they don’t miss out on saving opportunities.
Comparing auto insurance quotes can be extra valuable when the rates are high in your state. And you can consider increasing deductibles to reduce the relatively high cost of a full coverage policy.