Colorado Car Insurance Quote: Everything You Need to Know

Published by on

If you are looking for a car insurance quote in Colorado, you may have many questions and concerns. How much does car insurance cost in Colorado? What are the minimum requirements and the best coverage options? How can you find the cheapest and the best car insurance companies in Colorado? In this article, we will answer these questions and provide you with everything you need to know about getting a car insurance quote in Colorado.

Colorado Car Insurance Costs

According to Compare.com, the average cost of car insurance in Colorado is $864 per year for full coverage and $438 per year for minimum coverage. However, the actual cost of car insurance in Colorado may vary depending on several factors, such as:

Your age

Younger drivers tend to pay more for car insurance than older drivers, as they are considered more risky and inexperienced. According to Car and Driver, the average cost of car insurance for a 16-year-old driver in Colorado is $6,930 per year, while the average cost for a 40-year-old driver is $1,512 per year.

Your gender

Male drivers tend to pay more for car insurance than female drivers, as they are statistically more likely to be involved in accidents and violations. According to The Zebra, the average cost of car insurance for a male driver in Colorado is $1,421 per year, while the average cost for a female driver is $1,448 per year.

Your marital status

Married drivers tend to pay less for car insurance than single drivers, as they are perceived to be more responsible and stable. The average cost of car insurance for a married driver in Colorado is $1,335 per year, while the average cost for a single driver is $1,421 per year.

Your driving record

Drivers with a clean driving record tend to pay less for car insurance than drivers with accidents, violations, or claims, as they are deemed to be safer and more careful. The average cost of car insurance for a driver with no accidents or tickets in Colorado is $1,512 per year, while the average cost for a driver with one at-fault accident is $2,160 per year, and the average cost for a driver with one DUI is $2,592 per year.

Your credit score

Drivers with a good credit score tend to pay less for car insurance than drivers with a poor credit score, as they are seen to be more trustworthy and reliable. The average cost of car insurance for a driver with a good credit score (670-739) in Colorado is $1,421 per year, while the average cost for a driver with a poor credit score (300-579) is $2,256 per year.

Your location

Drivers in different cities, counties, or zip codes in Colorado may pay different rates for car insurance, as they are exposed to different levels of traffic, crime, weather, and regulations. According to Trusted Choice, the most expensive city for car insurance in Colorado is Denver, with an average cost of $1,638 per year, while the cheapest city is Fort Collins, with an average cost of $1,068 per year.

Colorado Car Insurance Requirements

According to Nolo, Colorado is a fault-based state, which means that the driver who causes an accident is responsible for paying for the damages and injuries of the other parties involved. Therefore, Colorado requires all drivers to carry the following minimum liability insurance coverage:

• $25,000 for bodily injury or death of one person in one accident
• $50,000 for bodily injury or death of two or more people in one accident
• $15,000 for property damage in one accident

These minimum limits are often referred to as 25/50/15. However, these limits may not be enough to cover the full costs of a serious accident, especially if you are sued by the other parties. Therefore, you may want to consider purchasing higher limits or additional coverage, such as:

1. Uninsured/underinsured motorist (UM/UIM) coverage: This coverage pays for your medical expenses and property damage if you are hit by a driver who has no insurance or not enough insurance. Colorado requires all drivers to carry UM/UIM coverage equal to their liability coverage, unless they reject it in writing.

2. Medical payments (MedPay) coverage: This coverage pays for your medical expenses and funeral costs, regardless of who is at fault. Colorado requires all drivers to carry at least $5,000 of MedPay coverage, unless they reject it in writing also.

3. Collision coverage: This coverage pays for the repair or replacement of your vehicle if it is damaged in an accident, regardless of who is at fault. This coverage is optional, but it may be required by your lender or lessor if you have a loan or a lease on your vehicle.

4. Comprehensive coverage: This coverage pays for the repair or replacement of your vehicle if it is damaged by something other than an accident, such as fire, theft, vandalism, or natural disasters. This coverage is optional, but it may be required by your lender or lessor if you have a loan or a lease on your vehicle.

Colorado Car Insurance Companies

There are many car insurance companies that offer coverage in Colorado, but some of the best and cheapest ones are:

1. State Farm: State Farm is the largest and most popular car insurance company in Colorado, with a market share of 19.9%. State Farm offers the cheapest rates for full coverage ($957 per year) and minimum coverage ($438 per year) in Colorado, as well as for drivers with different ages, genders, marital statuses, driving records, and credit scores. State Farm also offers a variety of discounts, such as for good driving, good student, multiple vehicles, multiple policies, and defensive driving.

2. Geico: Geico is the second-largest and the fastest-growing car insurance company in Colorado, with a market share of 13.1%. Geico offers competitive rates for full coverage ($1,017 per year) and minimum coverage ($439 per year) in Colorado, as well as for drivers with different ages, genders, marital statuses, driving records, and credit scores. Geico also offers a variety of discounts, such as for military, federal employee, good driver, good student, multiple vehicles, multiple policies, and anti-theft device.

3. Progressive: Progressive is the third-largest and the most innovative car insurance company in Colorado, with a market share of 12.8%. Progressive offers reasonable rates for full coverage ($1,191 per year) and minimum coverage ($528 per year) in Colorado, as well as for drivers with different ages, genders, marital statuses, driving records, and credit scores. Progressive also offers a variety of discounts, such as for continuous insurance, online quote, paperless, pay in full, automatic payment, and Snapshot.

These are just some examples of the car insurance companies that offer coverage in Colorado. You can also find other car insurance companies, such as Allstate, American Family, Farmers, or USAA, depending on your preference and eligibility.

Conclusion

Getting a car insurance quote in Colorado can be a complex and confusing process, but it can also be a rewarding and satisfying one. By understanding the costs, the requirements, and the options of car insurance in Colorado, you can find the best and the cheapest car insurance quote for your needs and preferences, and enjoy the peace of mind that comes with having adequate car insurance coverage.