This handy page summarizes the latest rates, laws and statistics pertaining to car insurance in the state of Colorado. Keeping track of important details goes a long way. Luckily, customizing an auto insurance coverage package that suits your particular needs at the lowest possible rates is easier than it looks.

Colorado Minimum Liability Coverage

The state of Colorado requires that drivers purchase a minimum per-vehicle insurance coverage of 25/50/15. What this means is $25,000 in Personal Injury Protection for the driver, $50,000 in per-accident protection for injury to others, and $15,000 against property damage. The state now also requires that drivers purchase $5,000 worth of medical payments coverage (MedPay) with all car insurance policies, ensuring that every Colorado driver has access to medical treatment in the event of an accident. Still, researchers at the Insurance Information Institute maintain that state minimum coverage amounts are usually inadequate for the actual cost of accidents. They recommend at least 100/300 coverage for drivers in every state.

Penalties for Driving Without Insurance in Colorado

First offenders driving uninsured in Colorado are faced with a fine of at least $500, up to 40 hours of community service, and four points on the driving record. Penalties escalate with each subsequent offense. These can include fines of not less than a thousand dollars, as well as license suspension and even more community service.

Auto Insurance Rates in Colorado

Average premiums on Colorado car insurance have dropped in recent years, largely due to the elimination of Colorado’s no-fault law in 2003. Colorado’s annual car insurance premium was $1,393 in 2016, not too much higher than the national average of $1,347 a year. Details regarding no-fault laws vary from state to state.

In general, car insurance premiums are affected by weather conditions, economic stability, percentage of uninsured vehicles on the road, population density, crime rates and other factors. Additional influences on annual premiums include the driver’s age, gender, driving record, lifestyle and vehicle type, among other things.

Low Cost Car Insurance Programs in Colorado

Colorado auto insurance companies often advertise special discounts as behavioral incentives for local drivers. The Accident-Free Discount is available to drivers who avoid accidents for three years. The Good Driver Discount is for avoiding moving violations. The Good Student Discount rewards high grades. The Multiple Auto Discount is for owners of more than one car. The Multiple Policy Discount benefits holders of more than one insurance policy. The Passive Restraint Discount recognizes factory-installed air bags. The Vehicle Safety Discount applies to certain types of cars. Ask your local car insurance agent for full details on discount car insurance programs available in the state of Colorado.

Obtaining Auto Insurance Quotes in Colorado

According to recent customer satisfaction ratings, the nation’s most favored auto insurance providers are AIG, Allstate, Auto Owners Insurance, Farmers Insurance, Geico, Liberty Mutual, The Hartford, State Farm and 21st Century. Still, numerous Colorado drivers opt for smaller regional carriers.

Colorado features many dozen insurance companies that provide auto accident and Comprehensive coverage at locally competitive rates. Call around and compare quotes. Ask about their discount programs. Most importantly, read consumer reviews, where the comparison between insurance carriers is most striking.