The best car insurance in Colorado are high compared to the national average. This is mostly due to the high amount of pay out the insurance companies need to make on claims. Colorado was ranked 6th in terms of vehicle thefts in 2017. Colorado was also ranked 6th in terms of catastrophe based insurance losses in 2017. Another factor that makes insurance rates higher in Colorado is that about one out of every six Colorado drivers is uninsured or underinsured. This means that you will need to make sure that you research well before you buy insurance. You need to be sure that you have bought the best car insurance in Colorado from the best car insurance companies.
Colorado has thousands of miles of roadways right from Fort Collins to Trinidad and Grand Junction to Boulder. You can go from the metropolitan city of Denver right along the Santa Fe Trail to the very top of the Continental Divide. Many accidents in Colorado result in death or serious injury. Carrying adequate insurance is not only a legal requirement but also makes a lot of sense.
When it comes to the best Colorado car insurance, checking for the best rates online make sense. Let’s check the coverage that you will require when it comes to insuring your car in the state of Colorado.
As per the Colorado state law, you need to have a minimum amount of auto insurance. If you are found without the minimum required auto insurance you can face fines or even jail time.
The minimum car insurance that you need when you are in Colorado is:
$25,000 per accident for bodily injury per person
$50,000 per accident for bodily injury for all persons
$15,000 in property damage liability
You don’t need to have collision, comprehensive or personal liability insurance as per the law; however, it is advisable that you take it.
Insurance companies are also required to give you $5,000 in Medical Payment Coverage which is automatically included in your premium. If you want to opt out of the coverage you need to inform them. It is always advisable to insure for much more than the minimum as per law. This is because; in an event of a serious accident you may need a lot more coverage than the minimum offers.
Factors that Determine the Best Car Insurance in Colorado
In Colorado, in general, Loveland, Fort Collins, and Laporte are known to have the lowest insurance costs. Denver, Aurora, and Pueblo have the highest cost. However, you need to keep in mind that there are many other factors like the age and model of your car, your insurance and driving history, etc that have a big impact on the final premium amount. That’s why the best solution is to check and compare various insurance quotes.
Types of Coverage for Colorado Car Insurance
You will need to have a fair amount of auto insurance in Colorado. If you have comprehensive coverage you will be protected against vehicle theft and natural catastrophes. Also, make sure that your insurance for uninsured and underinsured motorists is high. That way you are not left paying the bill if you get an accident with an underinsured driver. Having comprehensive coverage will help you to buy a new car in case of a national calamity. In addition to underinsured and uninsured motorist coverage and comprehensive coverage, you also need to check the amount of collision coverage, auto liability coverage, personal injury protection, and medical payments coverage you may require. Depending on the above coverage options, your insurance premium will vary.
Finally, it is important to get your Colorado car insurance from a reputed auto insurance company. This is very important as large and reputed auto insurance companies have the reserves to pay out during a natural calamity. You don’t need to pay a lot of attention to online reviews as most of them are biased. You can also check the ratings of the insurer with NAIC (national association of insurance commissioners) which is an unbiased source of reference.
