Colorado Car Insurance

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Tonya Sisler has a Bachelor’s Degree from the University of South Carolina in Journalism and has worked for 15+ years in management. She has also completed a proofreading certification and is currently...

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Brad Larson has been in the insurance industry for more than a dozen years. He started out as a claims adjuster for a national carrier. He has since switched to the agency side of the business...

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Reviewed byBrad Larsen
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UPDATED: Jun 26, 2020

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In a nutshell...
  • Medical payments insurance provides coverage for the initial medical expenses of a car accident
  • Medical payments coverage is not required by most states
  • Over 100 licensed car insurance companies offer automobile insurance so finding an insurer is not too difficult

State minimum auto insurance rates and requirements vary from state to state. Compare state to state below:

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The Colorado Division of Insurance sets car insurance requirements for Colorado drivers and current laws requires all drivers to carry liability insurance with minimum levels of coverage.

Medical payments coverage is always mandatory for all drivers, but specific exemptions can provide an opportunity for drivers to opt out of this coverage.

While Colorado state car insurance law does provide sufficient levels of coverage for minor accidents, they do not offer enough financial protection for drivers involved in more severe crashes.

Colorado is not alone here as most state minimum car insurance requirements are somewhat insufficient for most people.

Your average monthly car insurance rates may not increase as much as you might think by adding additional coverage like comprehensive. Review rates for auto insurance coverage below:

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Enter your zip code above to get FREE car insurance quotes today!

Colorado State Car Insurance Requirements

Colorado car insurance laws require all vehicles to have car insurance coverage with at least minimum limits of liability coverage.

The limits of liability coverage are:

  • $25,000 bodily injury coverage per person
  • $50,000 physical injury coverage per accident
  • $15,000 property damage

Remember that medical expenses can often set you back $10,000 or more overnight and the cost of repairing some luxury cars can easily exceed the levels should the damage be high enough.

In 2009, the State of Colorado passed a law requiring all drivers to also obtain a minimum of $5,000 in medical payments coverage.

Most states do not require medical payments coverage but, it is a beneficial and affordable type of car insurance to have.

ZIP codes affect auto insurance because of factors like traffic, crime to name a few. Find out how your ZIP code stacks up in CO.

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Age and gender will affect your car insurance. Younger drivers are often in a high risk class. See if the gender stereotype (males pay more) holds true in CO.

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Take a look at these 6 major factors affecting auto insurance rates in CO.

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Drivers can save $859/yr* by comparing car insurance

*based on a survey of 1,000 car insurance customers

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Who are the best Colorado car insurance companies?

Colorado is quite a large market for car insurance companies so almost national providers offer coverage in the State.

Car insurers such as Progressive, Nationwide, Geico and State Farm along with regional provider and high-risk car insurance companies like the General Car Insurance Company all have a presence there.

In fact, over 100 licensed car insurance companies offer automobile insurance so finding an insurer is not too difficult.

Now let’s see who is the cheapest car insurance company in Colorado.

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There many car insurance companies who are just as financially stable as the other and every driver has unique needs so spend more time comparing those providers you trust rather than chasing after who has the best title.

Who are the largest car insurance companies in Colorado?

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Enter your zip code below to get FREE car insurance quotes today!

References:
  1. https://www.nationwide.com/insurance-law.jsp
  2. https://www.thebalance.com/understanding-minimum-car-insurance-requirements-2645473
  3. https://www.safeauto.com/car-insurance/liability-insurance
  4. https://www.libertymutual.com/auto/car-insurance-coverage/bodily-injury-liability

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State Minimum Car Insurance Rates Nationwide
Average Monthly Car Insurance Rates by State
Monthly Colorado Car Insurance Rates by ZIP Code
Average Monthly Car Insurance Rates by Age & Gender in Colorado
Factors Affecting Car Insurance Rates in Colorado
Colorado Car Insurance Rates by Company vs. State Average
Colorado Car Insurers by Market Share %