Greatest Low cost Auto Insurance in Colorado 2022 – Forbes Advisor – Forbes

Editor's Note: We earn a commission through affiliate links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Find cheap auto insurance in Colorado

The cheapest auto insurances in Colorado vary depending on the driver's license and even credit. So if your friend says they found a good plan, it doesn't mean that the same company has good auto insurance plans for you.

We evaluated the auto insurance rates of 10 Colorado companies to identify the good deals.

Related: Best Auto Insurance

Compare prices

Compare prices from participating partners through EverQuote's secure website.

Car insurance rates

Excellent

Compare prices

Compare prices from participating partners through EverQuote's secure website.

Car insurance rates

Very well

Compare prices

Compare prices from participating partners through EverQuote's secure website.

Cheap Colorado auto insurance for good drivers

Geico, Nationwide, and State Farm auto insurance companies were among the cheapest companies we rated for auto insurance rates for good drivers in Colorado. USAA also has competitive pricing but only offers coverage to military and veterans.

Cheap car insurance in Colorado for drivers with a parking ticket

Expect an average insurance increase of about $ 100 per year in Colorado for receiving a speeding ticket. Even with a ticket on your record, you can search for cheaper insurance rates. In this category, Geico Auto Insurance offered the cheapest insurance among the companies we surveyed.

Cheap car insurance in Colorado for drivers who have had an accident

If you cause an accident that injures someone else, your Colorado insurance rates increase by an average of nearly $ 690 per year. You may be able to find better prices from Colorado Farm Bureau, State Farm, and Geico.

Affordable Colorado auto insurance for drivers with a DUI

A DUI conviction results in an average auto insurance rate increase of $ 790 in Colorado. Check rates from State Farm, Colorado Farm Bureau, Geico, or Progressive Auto Insurance to see if you can lower your rates.

Cheap Colorado auto insurance for drivers with poor credit ratings

It can be difficult to find cheap auto insurance in Colorado when you have poor credit. The average price tag is over $ 3,000 a year, even for a good driver. In this situation, it can really be worth looking around. Try Geico and Nationwide for better prices.

Cheap auto insurance in Colorado for drivers caught without insurance

Auto insurance companies see no insurance gaps and often charge higher rates from those caught driving without insurance. Cheaper Colorado auto insurance may be available from Geico and, for military and veterans, from USAA Auto Insurance.

The cheapest vehicles for insurance in Colorado

Depending on the type of vehicle you buy, you may be able to save on your car insurance. In Colorado, the Jeep Wrangler JL Sport, Honda CR-V LX, and Ford Escape S are among the cheapest insurance vehicles based on average rates for 50 best-selling models of 2021. The 20 cheapest are below.

The most expensive vehicles for auto insurance in Colorado among the most popular models are the Lexus ES 300H ($ 2,792 per year) and the Tesla Model S Performance / Plaid ($ 4,435 per year).

Related: Insure the most and cheapest cars nationwide

Required Colorado Auto Insurance

If you own a car in Colorado, you must get vehicle liability insurance. Liability insurance pays for damage and injury that you cause to others. For example, if you snap back into your neighbor's fence, your neighbor can take out your property damage liability insurance. At a minimum, car owners in Colorado must purchase:

  • $ 25,000 for assaulting a person
  • $ 50,000 for injuring multiple people in an accident
  • $ 15,000 for property damage in an accident

This is usually written as 25/50/15.

But in many cases, the minimum car insurance requirements in Colorado are just not enough. If you cause a multiple injury accident, you could quickly top the medical cost of $ 50,000 and you could be sued for the rest. When you have savings and assets, it is important to buy more than the minimum requirements.

Colorado also requires that your auto insurance company offer you uninsured motorist coverage (UM) and underinsured motorist coverage (UIM). UM pays for car damage and injury when a driver without insurance causes an accident. UIM pays for car damage and injury when an inadequately insured driver causes an accident.

When you buy UM / UIM coverage, you need to buy at least 25/50. You can decline this coverage in writing, but generally these are types of coverage that are worth it.

What else should i have?

Medical payments (MedPay). This type of cover covers the cost of treatment if you are injured in a car accident, regardless of who is at fault. While your health insurance usually covers injuries, you can use your MedPay coverage to pay co-payments, deductibles, and co-insurance. You can generally purchase MedPay coverage in increments of $ 1,000 up to a maximum of $ 25,000.

Collision and extensive coverage. While Colorado law doesn't require you to purchase these types of coverage, your auto lender or leasing company likely will. Taken together, collision and full coverage pay for a wide variety of issues such as car accidents, animal collisions, car theft, vandalism, natural disasters (like fires and floods), hail, riot, and falling objects (like tree branches).

Summary: Compulsory Colorado Auto Insurance

Can I show my insurance ID from my phone?

In Colorado, you can show a car insurance ID with your phone. Check with your car insurer to see if they have a mobile app with an electronic ID card.

Allowable Factors in Colorado Auto Insurance Rates

Auto insurance companies in Colorado consider a variety of factors to determine your auto insurance rates, such as: B. Your driving history, previous insurance claims and the vehicle model. Businesses in Colorado can address these factors as well.

How many uninsured drivers are there in Colorado?

According to the Insurance Research Council, approximately 16% of Colorado drivers are uninsured. If an uninsured driver is liable for a car accident, you can sue them. If you have UM insurance, you can take advantage of this coverage.

Can my Colorado auto insurance be canceled?

Colorado law allows an insurance company to cancel a policy for any of the following reasons:

  • Failure to pay the premium.
  • You, members of your household, or someone who habitually drives your car has had your driving license withdrawn or revoked during the term of the policy or in the 180 days immediately prior to the policy effective date.
  • You knowingly provided incorrect information in your vehicle insurance application.
  • You knowingly and deliberately made a false statement about a claim filed with your car insurance company.

Motor insurance must be canceled for 10 days if the premium is not paid and 30 days for all other reasons.

Penalties for Driving Without Colorado Auto Insurance

If you are caught driving in Colorado without insurance, you could face a fine of $ 500 or more, community service, and your driver's license revoked until you can show proof of insurance.

When can a vehicle be totaled?

If your car has suffered significant damage in a car accident or an event such as a fire or flood, your insurer can declare your vehicle a total loss. Colorado state law states that a car will be totaled if the cost of repairs exceeds the car's fair market value prior to the accident.

Solve insurance problems

The insurance division in Colorado oversees insurance companies and receives consumer complaints. You can download a form or file an online complaint.

methodology

To find the cheapest auto insurance companies in Colorado, we used rates from Quadrant Information Services, a provider of insurance data and analytics. Rates are based on a clean record driver insuring a Toyota RAV4 with $ 100,000 personal injury liability insurance, $ 300,000 per accident, and $ 100,000 property damage insurance, uninsured motorist insurance, and any other coverage required by the state. The price also includes collision and fully comprehensive insurance with a deductible of 500 USD.

The companies rated for Colorado were Allstate, American Family, Auto-Owners, Colorado Farm Bureau, Farmers, Geico, Nationwide, Progressive, State Farm, and USAA.

Comments are closed.