The state of Colorado is not a no-fault zone. It is a tort state, which means the at-fault driver is responsible for any damages incurred due to their driving.
Uninsured motorist coverage is not needed in Colorado. At the very least, every insurance company must supply it. Colorado drivers should strongly consider whether or whether it is required because the state’s uninsured motorist rate is 13.3%.
How is auto insurance in Colorado calculated?
We looked at all of Colorado’s leading auto insurance companies. We discovered that State Farm has the cheapest rates for both a minimum coverage policy ($441). If you are looking for the cheapest auto insurance for full coverage, you can opt for GEICO, which will cost you.
In Colorado, a minimum coverage policy only pays for harm or injury to those for which you are responsible. Damage to your car is covered under a full coverage policy, including comprehensive and collision insurance, whether the damage occurs on or off the road.
The Interstate 25 corridor, like almost everything else in Colorado, has the highest and lowest state auto insurance premiums. Drivers in the Black Forest pay significantly more than those 125 miles north in Fort Collins.
To see the average car insurance rate for your neighborhood, as well as the highest and lowest rates fielded from up to six major carriers, enter your ZIP code, gender, age, and choose from three coverage levels. By comparing auto insurance quotes, you might potentially save the difference between the highest and lowest rates.
Many factors influence how much you pay for auto insurance, and one of the most important is where you reside. When calculating your rate, insurance companies examine the cost and frequency of claims in your neighborhood and then adjust it depending on other criteria like your age, driving record, credit, and the sort of car you drive.
Each insurance company has its formula. That’s why the price of the same policy can vary dramatically between insurers – and why you should shop around.
What is the cost of auto insurance in Colorado? Several factors determine the cost of auto insurance in Colorado. The factors are below:
Gender of the driver
Age of the driver
Marital status
The driving history of the driver
Make and model of car driven
Car insurance deductible
Discounts
Coverage limits
Credit score
What is the average cost of car insurance in Colorado?
Colorado’s average cost of auto insurance is $522 per year for minimal coverage and $2022 for full coverage. This is slightly higher than the national average in the United States, which is $573 for basic coverage and $1680 for comprehensive coverage.
For a variety of reasons, each company charges a different amount. The leading companies that Colorado drivers can pick from are listed below. As you can see, charges can vary substantially from one company to the next.