Colorado auto insurance
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Get the best car coverage in Colorado
Colorado is known for its avid culture of outdoorsmanship and its lush natural landscapes. Even the most dedicated hiker will likely need to drive, though, to get to work and fulfill their obligations since only 2.8% of the state’s residents use public transit for their commute. Colorado auto insurance is imperative because it minimizes the risk you face when you get behind the wheel.
Why you need Colorado auto insurance
Insurance is particularly important in a state that receives an average snowfall of 67.3 inches each year, which may increase the likelihood of accidents. Although snow and slush make for unsafe driving conditions, many Coloradoans are skilled at navigating such weather. However, even the safest driver cannot eliminate the liabilities that are inherent to driving, and statistics indicate that Colorado roads may pose some unique risks.
Unfortunately, the state holds the dire distinction of being one of the deadliest places for fatal car accidents. Colorado sees an average of 62 deaths each month as a result of collisions. Experts attribute this startling trend to several different factors:
• Distracted driving due to texting and phone use.
• Other distractions such as eating or talking to passengers.
• Influence of illicit substances, including cannabis.
Even if you avoid these behaviors, you can’t guarantee that other drivers will be as safe as you are. Insurance allows you to protect yourself from the financial ramifications that a car accident could cause.
Colorado auto insurance minimum requirements
There are several specific requirements that drivers must satisfy when it comes to getting the right Colorado auto insurance. All motorists must carry a policy that covers their liability if they are at fault for an accident. This ensures that the injured party does not face financial responsibility for expenses they were not at fault for. More importantly, it limits the personal responsibility that you face if you cause a car accident.
State law mandates that drivers in Colorado must carry insurance coverage that meets the following minimums:
• $25,000 for death or injury to one person.
• $50,000 for death or injury to two or more people.
• $15,000 for Property Damage Liability.
If you’re looking for the best Colorado auto insurance quotes, using VIU by HUB to compare insurers is a better bet.
Average auto insurance premiums in Colorado
How much will you pay for auto insurance in Colorado? The average annual premium for full coverage in Colorado is about $2,100, which is slightly above the national average of $2,000. If you opt for the state minimum coverage, you’ll likely pay about $505 per year, which is less than the national average of $620 per year for minimum coverage. Colorado is the 17th most expensive state for auto insurance rates.
Variables that determine your auto insurance quote
Drivers should remember that no two Colorado auto insurance quotes are the same. Every driver’s premium will be calculated based on a combination of personal criteria and characteristics:
• Your gender.
• Your age.
• Your driving history.
• Your credit history.
• The make and model of your car.
• How long you’ve been licensed.
• Your history of insurance claims.
Insurers use these factors to calculate if you are a high-risk driver. If you have a driving history that includes several traffic accidents, for example, you’re likely to see higher premiums when you look for Colorado auto insurance quotes.
Coverages to avoid risks on the road
Although the minimum required Colorado auto insurance limits offer basic protection, it’s not enough to fully shield you from the expenses of an accident. To adequately mitigate your risk, you should consider additional coverage options that can offer a safety net if you are involved in an accident.
Uninsured and Underinsured Motorist
Unfortunately, Colorado ranks 13th in the United States. for uninsured motorists. Approximately 16.3% of drivers do not have insurance that meets the state minimum requirements. If you get into an accident with one of these drivers, you may find yourself liable for expenses that their insurance should have covered. Adding Uninsured (UM) and Underinsured Motorist (UIM) coverage can prevent this.
While state law does not require you to purchase UM and UIM coverage, the law requires that every insurance company offer it to their auto insurance clients. This coverage pays for expenses when you are hit by an at-fault driver who either didn’t carry insurance (uninsured) or didn’t carry enough insurance to address all the medical bills or car repair costs (underinsured).
Comprehensive Coverage is yet another important insurance option that can further protect you from monetary loss. Comprehensive Coverage pays for damage that results from causes other than a collision. Damage caused by weather related events like flooding or windstorms, or vandalism, for example, are covered by Comprehensive Coverage. Colorado does not require this coverage, but if you finance your vehicle, your lender might.
Even if you are a safe driver, there are many factors that may lead to a collision that you are at fault for. In these instances, if you carry only Liability Coverage, you will be responsible for the cost of repairing or replacing your vehicle. Collision Coverage extends coverage even if you are at fault for an accident.
Accident-related expenses can vary widely, but in some cases, they can reach tens of thousands of dollars. Auto Liability Coverage does not include coverage for your own medical expenses, and this exposure can leave you burdened with substantial debt if you sustain injuries. Medical Payments covers this liability and includes protection for you and your passengers.
This information is intended for general informational purposes only and is not intended to constitute legal advice.