Colorado Auto Insurance Requirements Guide
Get affordable Colorado auto insurance quote rates for free. Colorado car insurance coverage, Colorado Auto Insurance Requirements Guide 2022,
Whatever the reason, when you get an online insurance quote from Nationwide, you can tailor and purchase a car insurance policy instantly, and even print out your proof of insurance card. Here’s how it works:
Colorado Minimum Insurance Requirements
Colorado boasts thousands of miles of roads, stretching from Grand Junction to Trinidad and from Fort Collins to Boulder. From the metro area of Denver, they will transport you to the Continental Divide’s summit and then follow the Santa Fe Trail.
They are utilized on any given day by around 4 million licensed drivers. Each year, they travel 9,100 miles on average and are involved in hundreds of accidents, many of which end in significant injuries or fatalities. Anywhere you reside and drive in the Centennial State, having enough auto insurance is a need and a sensible precaution. This is your guide to Colorado’s fundamental auto insurance rules and regulations.
You are required by Colorado state law to maintain a minimum level of automobile insurance. If you don’t, you risk receiving harsh punishments, such as cash fines and jail time. Colorado ended the no-fault policy.
You could be held accountable under the country’s current tort system for actual damages (such as expenditures related to property damage and medical expenses), economic harm (such as lost wages and earning capacity), as well as emotional and physical pain and suffering.
The bare minimum car insurance requirement for Colorado drivers is:
- $25,000 bodily injury per person per accident
- $50,000 bodily injury for all persons per accident
- $15,000 property damage liability
You are not required to have supplemental insurance in Colorado, such as collision and comprehensive, personal liability, or uninsured/underinsured motorist coverage. On new and renewed policies, insurers must provide UM/UMI coverage in an amount equal to your bodily injury liability limitations.
It must be rejected in writing if you choose to do so. Additionally, insurers are obligated to provide you $5,000 in medical payment coverage, and you must choose not to use it otherwise your premium would be increased automatically. If you have any real estate or other significant assets, going above and above the basic standards will help you safeguard your finances.
Failure to Maintain Colorado Auto Insurance Penalties
Colorado state law mandates that you have proof of your auto insurance in your vehicle and be prepared to present it to law authorities upon request. For a first infraction, there is a $500 fine and a license suspension until you can show evidence of insurance. The following violations result in minimum fines of $1,000 and a four-month license suspension.
For the third offense and after that, you must pay a minimum fine of $1,000 and have your license suspended for eight months. Additionally, the court may mandate up to 40 hours of community service. You must submit an SR22 proof of liability insurance form and have it on file for three years, and there is a $40 reinstatement cost.
The Colorado Department of Revenue requires insurers to notify it of any new policyholders at least once per month and within 10 days of a policy being canceled. Information is stored in an electronic database.
Colorado Car Insurance Premiums
Vehicle insurance premiums are regulated by the Colorado Division of Insurance. Insurance companies are allowed to charge premiums and award discounts based on a number of factors that can include:
- The type of car you are insuring
- Prior auto insurance coverage
- How much you drive
- Your driving record
- Your age
- Your gender
- Your marital status
- Your geographic location
- How long you’ve been driving
- Whether or not you use your car for business
How To Purchase The Most Affordable Colorado Auto Insurance Policy
The following methods may help you lower your premium costs:
A strong driving record, anti-theft devices, numerous automobiles on one policy, bundling your auto insurance with your homeowners or renters insurance, automatic or online payments, and operating a hybrid or electric vehicle are all possible savings to look into.
On this website, you can compare prices from a number of suppliers.
Cut out the extra coverage
See if you are eligible for any state-sponsored low-cost auto insurance programs.
New Driving Laws in Colorado
Laws governing driving and auto insurance are subject to regular modification. It is your duty to remain informed of Colorado’s legal requirements. The following legislation was recently passed in Colorado and could have an impact on your choice of insurance policy.
A 2009 law outlawed cell phone use while driving for anybody under the age of 18. Only drivers who are 18 or older may use hands-free devices. It is not permitted to text, email, or tweet while driving.
It is acceptable to use a cell phone in an emergency, which could include reporting a crime, a fire, a traffic accident, a hazard on the road, or reckless driving. $50 is the fine for first-time infractions.
Following the legalization of marijuana for recreational use, Colorado additionally redefined “driving while intoxicated” and established tetrahydrocannabinol (THC) blood concentration limits in 2013. If a blood test reveals THC concentrations of five nanograms or more per milliliter, the driver is now presumed to be intoxicated.
2014 will mark every driver in Colorado who resists a sobriety test as a persistent drunk driver. The first offense carries a one-year license suspension.
The new “Interlock Bill,” however, permits the driver to have their driving privileges restored after two months of not driving if they agree to use an ignition interlock device for two years. The new rule also lowers the 0.17 to 0.15 blood alcohol limit for driving while intoxicated.
A driver’s ability to dispute whether a police officer has a valid reason to pull them over when conducting a DUI stop has been reinstated as of 2014.
Colorado car insurance coverage
Gather the information you will need about your cars and drivers
To speed up purchasing instant auto insurance online, have this basic information ready for each driver on your policy:
- Social Security number (optional)
- Driver’s license number
- Driving distance to work
- Driving violations, accidents or claims in the last five years (approximate dates and details)
- Make, model, and year of your vehicle(s)
Get an insurance quote online
Cross country’s collision protection quote instrument is your quickest way to a fast vehicle protection quote. Enter your ZIP Code and snap Get a Quote. Then, at that point, answer a few inquiries regarding yourself, the vehicle you need to protect, and the individuals who will be driving the vehicle.
You can likewise get quick vehicle protection quotes by calling 1-877-669-6877. Furthermore, on the off chance that you favor working with a neighborhood specialist, utilize our representative finder to track down a specialist close to you.
The most effective method to look at vehicle protection
When you have your vehicle insurance quote, you might need to look around to see who has the most ideal choices that anyone could hope to find for what sort of inclusion or contract you want. While contrasting, you’ll need to remember:
- Inclusions that are advertised
- Limits accessible
- Deductibles and risk limits
- Extra adjustable elements
Find Nationwide car insurance discounts
As you get your moment collision protection quote, Nationwide will assist with recognizing limits on vehicle insurance that could apply to your contract and set aside your cash by bringing down your exceptional amazingly.
Multi-strategy limits: Depending on where you live, you might fit the bill for lower rates when you have numerous Nationwide insurance contracts.
Safe driver rebate: You may likewise have the option to bring down your vehicle protection rate by abstaining from speeding tickets, wild driving, or having a mishap-free record.
Hostile to burglary rebate: If your vehicle is outfitted with an enemy of robbery gadget or traveler restriction framework, you might save significantly more.
Cross country SmartRide: You may likewise procure a rebate through the SmartRide program which is a utilization-based program that gives individuals input to assist with empowering safe driving.1
Car insurance laws in Colorado
As a resident of Colorado, you are required to carry car insurance and purchase coverage before you register your vehicle. Insurance coverage and cost may also vary from city to city. Before you get started, here are some important factors to keep in mind:
Colorado teen driving laws
Young drivers are eager to get out on the road and experience that kind of freedom for the first time in their lives. To ensure safety on the road for everyone, it’s important to become familiar with the laws for new drivers in Colorado.
At age 16, teenagers are eligible to apply for a minor driver’s license and can apply for their full license once they turn 18. You can learn more about the rules associated with new drivers receiving their driver’s licenses in Colorado here.
Minimum insurance requirements for Colorado
The minimum amount of Colorado auto insurance coverage is $25,000/$50,000/$15,000. In the event of a covered accident, your limits for bodily injury are $25,000 per person, with a total maximum of $50,000 per incident. It also covers up to $15,000 for damage to another person’s property.
Colorado auto liability coverage
Two types of liability coverage are available and required by law in the state of Colorado:
Property damage, which safeguards your assets if you are found legally accountable for a covered accident, including property damage sustained by the other party.
Bodily injury, which safeguards your assets if you’re found legally accountable for a covered accident, including certain expenses associated with bodily harm sustained by the other party.
Liability coverage also provides for your legal defense if a lawsuit is brought against you as a result of a covered accident.
Optional Colorado insurance coverages
It’s often a good idea to add the following coverages to your policy so you can enjoy the security of being protected on the road:
Comprehensive
This type of Colorado auto insurance coverage is used to repair your vehicle when physical damage occurs from non-collision-related incidents (subject to deductible). Such incidents include theft, fire, vandalism, glass breakage, and contact with animals.
Collision
Collision coverage is used to repair your vehicle when physical damage occurs from a collision with another vehicle or object (subject to deductible).
Uninsured/underinsured motorist
Protects you in the event of an accident where the other party is at-fault and either doesn’t carry insurance or is underinsured.
Property damage helps pay for property damage to your vehicle that you are legally entitled to from another driver who is not insured or underinsured.
Bodily injury helps pay for damages due to bodily injury that you and other passengers of your vehicle are legally entitled to from another driver who is not insured or is underinsured.
Medical benefits
This insurance may cover reasonable and necessary medical expenses or funerals for you and others who are covered under your policy in an accident, regardless of who is at fault, up to the amount you choose.
Tailor your policy with these options
Accident Forgiveness
With this optional coverage, Nationwide will not raise your auto insurance rates following your first at-fault automobile accident. Learn more about Accident Forgiveness.
Roadside Assistance
Nationwide Roadside Assistance coverage is available in two different levels, Basic and Plus, so you can choose the one that works best with your budget. Get covered for fuel delivery, lockout service, jump-starts, and more.
Good as new vehicle replacement
This feature has various options that offer greater coverage for your new vehicle.
Loss of use/rental car expense
If you can’t drive your car due to a covered loss, this coverage helps pay for a rental car or other transportation expenses so you can get back on the road.
What factors affect your car insurance rate?
Some car insurance rating factors, such as your driving record, can significantly impact your insurance costs. Below are the most common rating factors used to determine a low or high risk driver.
1. Your vehicle
The type of car you own can affect your car insurance rate. This will include car safety features, year and make, age of the vehicle, vehicle ownership and cost of repairing the vehicle.
2. Where you live
Car insurance rates vary by state and zip code. Each state has their own regulations and insurance coverage requirements.
3. Your characteristics
Your demographics such as age, gender, marital status, credit score and profession can impact your rate.
4. Driving history
Your driving history would include your driving record, how much you drive and years of driving experience.
What can increase my car insurance rate?
Once you find the right coverage, be sure to keep in mind the factors that can increase your rate.
1. Traffic violations
Traffic violations include minor and major violations such as speeding tickets, careless driving and DUIs.
2. At-fault accidents
At-fault accidents that result in large insurance claims may affect your premium.
3. Adding a driver to your policy
If someone else drives your car you should add them to your policy. Their driving record and driving history may increase your insurance rate.
4. Lapse in insurance
A lapse in car insurance is when you have a registered car but no car insurance. Going without car insurance in many states can make you a high-risk driver when purchasing car insurance.
What are the consequences of driving without car insurance?
Driving uninsured can result in varying penalties and is against the law in most states. The consequences of driving without insurance outweigh the monthly insurance premium and may result in the following penalties.
1. Fines
Fines vary by state and can add up to thousands of dollars if you are involved in an accident.
2. License suspension
Some states revoke or suspend your license if you are caught driving without insurance.
3. Vehicle impounded
In some states, your vehicle may be towed and you will not be able to claim your car until you submit proof of insurance. Getting your car back will require additional impound and reinstatement fees.
4. Vehicle repair and medical costs
If you are uninsured and involved in an accident you have to pay out-of-pocket for damages and, depending on the severity of the accident, the costs can be very high. You could even be sued for bodily injury or property damage.
5. Increase in car insurance premium
Driving uninsured will make you a high-risk driver and this can increase your premium. Some states require an SR-22 document to prove you can meet the state’s minimum insurance requirements. Having an SR-22 will reflect poorly on your driving record.
