Auto insurance is especially important to have in Colorado, and not just because it’s a legal requirement. Our home state is known for its turbulent winters with snow and hail. There are also more people on Colorado roadways, as the state’s population has grown by nearly 1,000,000 since 2010.
With rising repair costs and more uninsured drivers on the road, a solid Colorado auto insurance policy is vital. What do drivers need to keep in mind when shopping for auto insurance in Colorado? Here are a few considerations to keep in mind.
Minimum Coverage Requirements for Auto Insurance in Colorado
Every driver in Colorado is required to carry car insurance with these mandatory liability minimums:
- $25,000 for injury or death of a single person in an accident
- $50,000 for injury or death of all persons in an accident
- $15,000 for property damage in an accident
The penalty for not having auto insurance in Colorado is $500 for first-time offenders; further offenses cost $1,000 and can result in license suspension.
In addition, Colorado auto insurance providers are required to offer coverage that can be used in accidents involving uninsured or underinsured drivers. However, drivers are not obligated to have those coverages.
Types of Colorado Auto Insurance
In addition to the required minimum coverage, Colorado drivers may consider adding more protection to enhance their security.
Collision Insurance
The required insurance policies in Colorado cover damages to other parties in an accident. In contrast, collision insurance covers the policyholder. If you get into a crash, collision insurance helps pay for the cost of repairing or replacing your vehicle.
Comprehensive Insurance
While collision insurance specifically addresses damages from crashes, comprehensive insurance covers your car in situations or accidents that are not the result of a crash. These events include theft, vandalism, weather damage, a tree falling on your vehicle, water damage, and more.
Roadside Assistance
Roadside assistance insurance covers drivers when they have unexpected breakdowns on the road. It provides help for dead batteries, flat tires, empty fuel tanks, and towing if necessary.
Potential Discounts on Premiums in Colorado Car Insurance
Policyholders may be eligible for discounts on auto insurance that can have a significant impact on their wallets. Many insurance providers reward drivers for keeping consistently safe driving records. They may also offer discounts for installing security devices like car alarms or GPS tracking systems. Some offer discounts for installing safety features like anti-lock brakes and airbags.
Drivers can also enjoy discounts on their insurance premiums when they bundle auto and home insurance policies. Insurers offer premium breaks on bundled coverages because policyholders have one central contact for all their insurance needs, which can lower administrative costs.
Get Complete Auto Insurance in Colorado
With Colorado’s varied seasonal changes and growing driver population, auto insurance offers protection from steep financial losses when accidents or breakdowns happen. Warrior Insurance & Services Group can build a policy that takes your driving patterns and safe driving record into account. Contact us online to request a quote.
