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Colorado Auto Insurance

Colorado is a tort state, meaning that those drivers who commit a “wrong” while driving will pay the expenses for their mistake. As a driver, Colorado auto insurance requires that you carry minimum liability insurance.

Colorado Coverage Requirements

Colorado minimums for liability insurance are 25/50/15. This means that the insured driver’s liability coverage must pay $25,000 for individual personal injury, $50,000 for more all persons involved in an accident, and $15,000 for property damage caused to other drivers. As with any legal minimum, it is advisable to cover yourself with higher liability payouts, but keep in mind this will also raise your premiums.

Auto Insurance Rates in Colorado

Auto insurance rates in Colorado are well above the national average. In 2003 Colorado premiums averaged $922.67 for a year of coverage. Colorado residents on average spent $545.05 on liability insurance, $317.82 on collision insurance, and $211.30 on comprehensive insurance. These numbers put Colorado at the 12th most expensive state to carry car insurance for the 2003 year.

How do the insurance companies determine your Colorado car insurance rates? The rates are a percentage of the total cost to insure the state. This does not mean as an individual that you will pay the same as your neighbor, but other factors help determine your premiums. For instance, your age can play a role in your insurance rates, as well as location, driving record, and the make and model of your automobile. After all these variables are determined, then your auto insurance rate is tabulated. Not all companies determine rates the same, so you may find better results by obtaining quotes from different companies.

Get More Information

The Colorado Department of Insurance
1560 Broadway, Suite 850
Denver, CO 80202
Phone: (800) 930-3745

For other Colorado Insurance Resources, See:

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