Are You Wondering, “How Much Does Car Insurance Cost in Colorado?” You might be surprised to learn that its price can depend on many aspects of a driver’s profile – including age, driving history, credit score and gender. Insurers use premiums based on these profiles in order to ensure fair prices for coverage provided; thus preventing drivers from overpaying for policies they no longer require or want.
Colorado drivers’ average full coverage premium is an annual $181 premium – higher than neighboring Utah and Wyoming states due to more fatal accidents and vehicle theft in Colorado.
Colorado car insurance customers looking for the ideal coverage have plenty of choices when selecting their insurer. USAA, State Farm and American Family have earned top scores on J.D. Power’s 2023 Auto Insurance Study for Colorado’s Southwest region – offering competitive premiums and flexible coverage options that help drivers meet their financial goals.
Drivers with poor credit are typically subject to higher car insurance premiums compared to drivers with excellent credit, as insurance providers believe these drivers are more likely to file claims. Drivers in such circumstances can reduce monthly premium costs by raising their deductible amounts on the policy.
Age can have a major effect on the cost of car insurance in Colorado. Younger drivers tend to pay more as they pose greater risk of an accident; while older drivers can often lower their rates by decreasing coverage on their policy.
Colorado drivers’ driving records can have a substantial effect on their auto insurance rates. A DUI conviction alone is enough to increase premiums by 58% compared to drivers with clean records; speeding tickets are estimated to raise premiums 21% more in Colorado.
Your type of vehicle also plays an integral part in how much car insurance costs. Newer cars tend to attract higher rates than older models because their repairs or replacement can be more costly for insurers; also, high-performance sports cars may cost more to insure than SUVs.
Our car insurance calculator takes into account all these variables when providing an estimate on how much coverage will cost you. Simply input your driver details and car information such as year, make and model. Next compare Colorado providers’ rates against each other until finding one that best meets both your budget and needs – or contact a local agent to learn more about your coverage options!