Colorado Auto Insurance Guide
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Get affordable Colorado auto insurance quote rates for free.
Call Now: (866) 845-3808
From Grand Junction to Boulder, Fort Collins to Trinidad, Colorado has thousands of miles of roadways. They’ll take you from metropolitan Denver to the top of the Continental Divide and along the Santa Fe Trail. On any given day, they’re used by nearly 4 million licensed drivers. They log an average of 9,100 miles apiece each year and are involved in thousands of traffic accidents, including many that result in serious injury or death. Wherever you live and drive in the Centennial State, carrying adequate car insurance is both a legal requirement and commonsense protection. This is your guide to Colorado’s basic vehicle insurance requirements and laws.
Colorado state law requires you to carry a minimum amount of car insurance. Failure to do so can result in severe penalties that may include monetary fines and jail time. Colorado repealed its no-fault status. Under its current tort system, you may be liable for actual damages (expenses associated with property damage and medical costs), economic damage (lost wages and earning capacity) and emotional and physical pain and suffering.
The bare minimum car insurance requirement for Colorado drivers is:
Colorado does not require you to carry additional coverage such as Uninsured/Underinsured Motorist, personal liability or Collision and Comprehensive. However, insurers are required to offer UM/UMI in the same amount as your bodily injury liability limits on new and renewal policies. If you reject it, you must do so in writing. Insurers are also required to offer you $5,000 in Medical Payment Coverage and you must opt out of the coverage or it will automatically be added to your premium. If you own property or other valuable assets, supplementing the minimum requirements can help you protect yourself from monetary loss.
You are required by law to carry proof of Colorado car insurance in your car and show it if a law enforcement officer asks to see it. The fine for a first offense is $500 and suspension of your license until you can produce proof of insurance. Subsequent offenses carry minimum fines of $1,000 and license suspension of four months. Third and subsequent offenses have minimum $1,000 fines and eight months’ suspension of your license. Courts may also order up to 40 hours of community service. There is a $40 reinstatement fee and you must file an SR22 proof of liability insurance form and maintain it for three years.
Insurers must report new policyholders to the Colorado Department of Revenue at least every month and have 10 days to report canceled policies. Records are kept in an electronic database.
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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:
Colorado also allows insurers to consider your credit rating to determine your premium.
You may be able to lower the cost of your premiums in the following ways:
Laws regarding driving and car insurance can change frequently. It is your responsibility to stay current about the legal requirements in Colorado. The following laws have recently been enacted in Colorado and may affect your insurance coverage decisions.
Colorado Division of Insurance
Colorado Department of Transportation Motor Vehicle Division
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