Cheap Colorado Auto Insurance

We’re all pretty aware of how expensive auto insurance can be. Even so, there are litanies of ways to obtain cheap auto insurance in Colorado, with many people in the US taking up on some of these offers. With the use of our free quote tool and some advice below, you’ll have everything you need to receive a policy that you can honestly afford.

If you’re going to receive cheap auto insurance in Colorado, you’ll have to understand the current legislation and common practices. Colorado is a Tort state, meaning that if the state declares an individual as the cause of an accident, the named person will be required to pay all the damages which result from the accident they caused. This will include all medical bills and vehicle repairs. For this reason, insurance companies may encourage you to purchase more than the minimum auto liability insurance required by the state of Colorado, and although that may be a definite way to obtain cheap Colorado auto insurance, it’s not the safest way.

Also, grace periods are of substantial importance. There is not a statutory grace period for insurance premium payments in Colorado. The payment must be received before or by the due date. Your premiums may go up if it becomes evident that you have a problem paying your premiums on time and you may have a difficult time getting insurance if your policy is dropped. If that happens, it becomes nothing short of an endeavor to obtain cheap auto insurance in Colorado.

Canceling an insurance policy in the middle of a term of coverage is restricted to the following conditions: non-payment of the policy, a suspended or revoked license, or the policy holder falsified information on intention while filing a claim or application. If the insurance company cancels the policy, the premium will be prorated and there will not be a penalty as long as the reason falls under the rules of C.R.S. 10-4-602. If you cancel the policy, you will receive a short rate penalty of 10-15% on the returned premium.

Insurance companies may decide to exclude household individuals from your policy for various reasons, and they’re generally proprietary. These exclusions are legal and will be addressed in the policy or by an endorsement attached to the policy. If you continue to allow the excluded individual to drive your vehicles, they will not be covered. Their insurance is invalid as long as they are excluded on the policy.

In the state of Colorado, the insurance company is allowed to check out your personal credit history when offering you insurance and setting your premium rates. They may also look at your credit standing, past policy coverage, premiums, and payment history. With that being the case, it’s noteworthy to state that credit history plays a factor in determining who or who doesn’t get cheap auto insurance in Colorado, as one would suspect.

The average insurance premium in Colorado was about $785.00 as of 2006. Colorado was ranked as having the 23rd highest premium average in the United States. There are 55 state approved insurance companies doing business in the state of Colorado. The insurance policies for a 68 year old married female has the overall least expensive premiums for almost all 55 companies with the 35 year old married male coming in a close second. The highest premiums are for the 21 year old male.

The least expensive insurance policy premiums across three categories are offered by Fidelity National Property and Casualty Insurance Company for the 21 year old female at $343.00 per year, the 21 year old male at $639.00 per year, and the 35 year old married man at $376.00 per year. For the 68 year old married female, American Standard Insurance Company of Wisconsin and Mendakota Insurance Company tie with premiums of $428.00 per year. The overall highest premiums go to Unitrin Auto and Home Insurance Company. The premium of $4233.00 per year for 21 year old males is the highest.

Things that can help you reduce the cost of your insurance premiums include a clean driving record, the type of vehicle you choose to drive as well as the number of miles you drive per year. The fewer miles you put on your vehicle each year, the lower your chances are of being involved in an accident. The reduction in accident risk can translate into a reduction in premiums. Furthermore, a clean driving record reduces your risk of an accident. It will be more expensive to insure a luxury car or a sports car. You should also keep in mind that insurance premiums will be higher on vehicles which are a high priority for thieves. The cars that made the top 10 stolen vehicles in Colorado are:

1. 1996 Honda Accord
2. 1989 Toyota Camry
3. 1996 Dodge Neon
4. 1995 Plymouth Neon
5. 1994 Jeep Cherokee/Grand Cherokee
6. 2000 Honda Civic
7. 1992 Chevrolet C/K 1500 Pickup (full size)
8. 1997 Ford F150
9. 1997 Dodge Ram Pickup
10. 1995 Acura Integra

Even if a person does drive one of these cars that are targets for theft, it doesn’t mean that their hunt for cheap auto insurance in Colorado is for naught. With our free quote tool, we’ll assure that you find exactly what you’re looking for – regardless of the vehicle you happen to drive. If you’re looking for something impressive by the way of car insurance; we’ll show you how to get it!

Source: Colorado Auto Insurance Laws, Colorado DUI Laws

Useful links:
Colorado Division of Motor Vehicles
Colorado Division of Insurance
Colorado Department of Revenue

Bodily Injury Liability per Person: $25,000.00 Limit
Bodily Injury Liability Total: $50,000.00 Limit
Property Damage Liability: $15,000.00 Limit

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