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Colorado Car Insurance

Traffic rules in Colorado are pretty harsh and for young drivers it can be pretty difficult to keep their license if they aren’t responsible drivers. But all these rules have had a positive result because due to five years in a row when the number of fatal car accidents has decreased, car insurance companies have decides to offer better prices for Colorado car insurance.

As a result, the average cost of Colorado car insurance is less than the national average that was of $1,434 in 2009. That was possible despite the additional coverage for medical expenses that the Colorado state considers mandatory. Considering that the minimum value of this additional coverage is of $5,000, that’s pretty impressive. Also mandatory is the coverage for the injury or death of a person involved in an accident that is of $25,000, the coverage for the injury or death of multiple persons in value of $50,000 and another minimum amount of $15,000 for the damages to any property.

The Colorado’s DMV keeps track of all the drivers and can at any time check if a certain driver has purchased insurance, but the state still requires you to be able to bring proof of insurance at any time. Once your Colorado car insurance expires, your insurance company is obliged to notify the DMV which can ask proof of SR-22 insurance and might even decide to suspend your license. The law is always harsh against individuals that drive under the influence of alcohol. That has also an impact on your Colorado car insurance, because you will labeled as a high risk driver and become the subject of an increase of your insurance premium with up to $1,800. The high risk label comes with a license suspension and will also force you to buy SR-22 insurance for at least three years.

Despite the high minimum liability requirements, specialists still recommend you to consider more coverage. That’s because the minimum of $5,000 for medical expenses can hardly cover an emergency treatment and a ride to the hospital if you don’t also have personal health insurance. Even the $25,000 coverage for the injury of one person can be insufficient because medical bills can be quite high. As a result, the suggested amount of insurance you should purchase is estimated at a value between $100,000 and $300,000. You should also consider uninsured/underinsured coverage or even better a comprehensive Colorado car insurance policy. The comprehensive option it’s in fact mandatory if you used a loan to buy your car.

To benefit from all these options and still find a great deal for your Colorado car insurance, you should shop online and gather as many quotes as possible. Don’t be afraid to ask for discounts either. Even if you are a young driver you can still try to lower your insurance bill by finding a car insurance company that offers discounts for young drivers that have good grades and are willing to invest their time in a defensive driving course. Another idea is to raise your deductible (this possibility can backfire) and install additional security devices (this is always wise).

To lower your Colorado car insurance rate you can also make sure to buy a car model that is less likely to be stolen. The first three cars that are most frequently stolen are the Honda Accord, the Honda Civic and the Acura Integra. The value of the Colorado car insurance policy also depends on the area you live in. For example in 2009, in Boulder the average was of $1,005, in Lakewood of $1,461 and in Denver of 1,439.

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