Colorado Car Insurance Requirements

colorado car insurance requirements

Driving Statistics for the Centennial State

Colorado is in the middle of the pack in terms of population (21st largest) in relation to the rest of the U.S., but in the top 10 (8th largest) as it relates to land area. Needless to say, there’s quite a bit of open area, including mountains, to drive while in the Centennial State.

Year: 2018 Statistics (totals)
Miles Driven (millions) 53,954
Fatal Crashes 588
Deaths 632

Sources:
Fatality Facts 2018 State by State

Colorado Car Insurance Requirements

Colorado protects its drivers while they’re navigating through the Rocky Mountains by ensuring everyone has a minimum amount of insurance.

Bodily Injury (BI): $25,000 per person / $50,000 per accident.

Coverage for expenses related to the injury of people due to an accident.

Property Damage (PD): $15,000 per accident.

Coverage for damage to other people’s property.

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Unique Driving Laws

Colorado has enacted a few laws to aid drivers when navigating its unique terrain and taking in its one of a kind beauty. A few to look out for are listed below.

  • In the event two vehicles meet on a steep, one-way road, the vehicle downhill must yield the right of way to the vehicle going uphill.
  • Many states list a yellow light as a cautionary light, even a signal to stop. It’s legal to purposely drive through yellow lights in Colorado.
  • The use of headphones while driving is illegal.
  • Texting and driving is illegal for all drivers, while those drivers under the age of 18 are also prohibited from using cell phones to make calls while driving.
  • Drivers looking to merge in another lane must avoid doing so if it means another vehicle will need to slow down for you.
  • ‘Code 15’ is a law that when enacted, requires that all vehicles on the road have either snow tires, all weather tires with mud and snow marks, or four-wheel drive (or traction devices for two drive tires).

Colorado Teen Driving

The Centennial State’s terrain can make for some pretty dangerous driving scenarios. To ensure all its drivers are properly trained, Colorado has a formal process for teenagers to gain real world driving experience and acquire their license.

  • Teenagers between the age of 15 and 17 can apply for an instruction permit by presenting an acceptable form of identification and passing a written exam and vision test. With an instruction permit, a teen:
    • Can drive with a parent, guardian or licensed drive age 21 or older.
    • Must complete 50 hours of certified practice driving.
  • Teenagers that have turned 16 are eligible for a minor driver’s license, assuming they meet the tailored requirements that apply to their specific circumstances. All applicants under 18 must have held an instruction permit for 12 months and passed a driving test. With a minor driver’s license, teenagers can drive unsupervised, under the following circumstances:
    • No driving between midnight and 5am for the first 12 months, unless accompanied by a parent, driving to/from work, school or a school activity.
    • Passenger restrictions also apply and are based on how long you’ve held your minor driver’s license.
  • Upon turning 18 years of age, the passenger and night restrictions of the minor driver’s license expire, and the teenager then has a full licensure to drive.

Top Insurance Carriers in Southwest Region (includes CO, AZ, NV, NM, UT)

  • USAA (5 out of 5 stars)
  • The Hartford (5 out of 5 stars)
  • State Farm (4 out of 5 stars)
  • Allstate (3 out of 5 stars)
  • American Family (3 out of 5 stars)

Source:
Auto Insurance Satisfaction J.D Power Finds

Average Insurance Expenditure* for Colorado

Colorado ranks in the middle of the United States in terms of population and driving safety. Thus, it comes as no surprise that on average, Coloradans spend just about the nation’s average on Colorado car insurance.

Colorado: $936

USA: $936

*Defined as annual cost of insurance regardless of mix of coverage (liability, comprehensive, collision)

Source:
Insurance Information Institute

Often Overlooked Discounts for Colorado Car Insurance

Although Coloradans pay a reasonably fair premium for their auto insurance, the discounts listed below can help make your rates even better.

  • Advance Quote: quote your auto insurance eight days or more before your renewal and become eligible for a discount.
  • New Vehicle: just bought a new vehicle? If its model year is within the past five years you often receive a discount.
  • Bundle: combine both your auto and home policies and receive a significant discount.
  • Telematics: add a telematics device to your vehicle or install an app on your phone to monitor your driving, and dependent on your driving tendencies, you can receive a substantial discount.
  • Good Student: if you’re a full-time student between the ages of 16 – 24, and maintain certain scholastic marks (grade point average or class rank) and you could qualify for a discount.

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