Colorado Car Insurance – Auto Insurance Quotes in CO
Colorado is very serious about their car insurance laws and the requirements for both maintaining a current insurance policy and for providing proof of it when required to do so. Failure to provide proof, even if a driver actually does have auto insurance, can result in higher car insurance premiums in the future, on top of fines and other legal action.
Whether a driver just needs the state minimum liability coverage or is interested in making sure their car insurance plan fully protects their assets, MyCarInsuranceRates.com can help to find the best car insurance companies to secure a policy.
Colorado Car Insurance Requirements
Colorado has an at fault car insurance system, meaning that one of the motorists involved in an accident must be found at fault. This is also called a tort system because fault is decided in court through lawsuits. Colorado has established minimum liability levels for insurance coverage; motorists must carry at least this much on their car insurance policies. Higher levels are available and depending on the driver’s own situation, may be advisable. However, My Car Insurance Rates can help determine what level of coverage motorists really need so that it is possible to get affordable auto insurance rates with the best insurance company.
Understanding Colorado Car Insurance Liabilities & Coverage
In Colorado, motorists are required to carry minimum liability car insurance. The minimums are $25,000 for injury or death of one person, as well as medical expenses, and $50,000 for injury or death of more than one person per accident. A minimum of $15,000 is also required to cover property damage liability, to include public and private property repairs and claims. This is commonly referred to as a basic 25/50/15 liability coverage plan.
Motorists can also opt to carry uninsured and underinsured motorist coverage, which will protect them and their property should they be involved in an accident with a driver who has no car insurance or does not have enough insurance to cover damages. While Colorado does not require this additional coverage, it is a valuable addition to any driver’s policy.
Colorado Insurance Coverage
- Bodily Injury Liability: $25,000/$50,000 Limit
- Property Damage Liability: $15,000 Limit
Colorado Car Insurance Laws & Regulations
In Colorado, drivers are required to show proof of insurance when obtaining their vehicle registration. Policyholders are also required to show proof of insurance when stopped by police while driving or involved in an accident, whether they were at fault or not. The penalty for failure to show proof of insurance is a $500 fine and 4 points assigned to their driving record history. Non-operational and off-highway vehicles are not required to be insured. The penalties for driving without car insurance include fines of up to $1,000, suspension of driving privileges for up to eight months, and mandatory community service of up to 40 hours.
Colorado Car Insurance Rates
In Colorado, drivers enjoy an average auto insurance premium cost that is lower than the national average. While drivers nationwide pay $1,538 on average for their policies, Colorado drivers only pay an average of $1,349 annually, or nearly $200 less per year. From 2009 to 2010, the average cost of a car insurance policy came down by 17%, but in 2009, it had increased by 26% over the 2008 cost.
Having said that, some consumers believe that all car insurance companies charge the same prices on their car insurance policies, and thus, do not bother to shop for lower rates. The truth is that prices do vary quite a bit, even between some of the best car insurance companies, for the same insurance coverage, so it is best to compare several car insurance quotes to obtain the best rates.
Colorado Car Insurance Quotes
Colorado car insurance rates have fluctuated dramatically over the last two years, and that kind of fluctuation often means thousands of people are overpaying on their insurance rates without even realizing it. MyCarInsuranceRates.com can help make sure each driver has the best policy at the lowest rates.
We are here to help Colorado drivers like you find the best car insurance rates available from the best car insurance companies, such as Nationwide, Allstate, GEICO, Progressive, 21st Century Insurance, Liberty Mutual, State Farm, Farmers Insurance, AAA and AARP. We simply encourage the top, reliable car insurance companies to compete for your business by allowing consumers to compare their rates.
