Using a Colorado Car Insurance Calculator can help you determine how much your policy will cost. There are many factors that will affect your premium, but the most important one is your coverage level. Depending on your car model, increasing your coverage level could more than double your premium. Also, make sure you have enough liability coverage for your vehicle. Even though you are required to carry liability insurance in Colorado, you may want to consider expanding your coverage or raising your limit.
Cost of car insurance in Colorado
If you are looking to lower your car insurance costs in Colorado, there are several ways to do so. First, you can opt to get liability insurance, which pays for damages and injuries in car accidents. This coverage is a legal requirement in Colorado. It also covers major accident bills and protects you in case of theft or damage to your car. NerdWallet has a helpful guide to car insurance requirements in each state.
Car insurance premiums in Colorado tend to be slightly higher than the national average. Full coverage policies from State Farm, Geico, and Progressive cost an average of $2,198 per year in Colorado. However, it is possible to find cheaper insurance plans if you shop around. Also, you can get cheaper insurance if you choose minimum coverage. While you may be tempted to get only liability insurance, you may not need it.
Average cost of car insurance in Colorado for married drivers
Married drivers receive cheaper insurance quotes than single drivers, as insurers consider married drivers to be less of a risk. In Colorado, insurers reduce rates for married drivers by 4% on average. In addition, married drivers can get discounts from more than one insurer by combining their auto and renters insurance policies.
In the state of Colorado, insurance companies are required to offer medical payment coverage of $5,000 to insured drivers. This insurance pays for certain medical expenses, regardless of fault. However, Colorado insurance companies can decline or deny this coverage. Some drivers elect to purchase higher amounts of Med Pay coverage.
Colorado car insurance premiums are a little more expensive than the national average. A full coverage policy will set you back an average of $2,198 a year. For comparison, the cheapest insurance companies in the state are State Farm and Geico. Those who are currently in the military may be eligible for discounts through USAA.
Average cost of car insurance in Colorado for drivers with a speeding ticket
Drivers with a speeding ticket can expect to pay more for car insurance. The state of Colorado uses a point system that adds points to your record based on the speed of the violation. Infractions that occur between five and nine miles per hour result in one point, while violations that occur between ten and 19 miles per hour result in four points. Accumulated points affect insurance premiums, and can result in license suspension.
Colorado’s auto insurance rates are higher for drivers with speeding tickets, even if they don’t have a history of accidents. This is because drivers with speeding tickets are at a higher risk for collisions than those who have good driving records. Drivers with a speeding ticket should shop around to find a better deal.