While factors common to the insurance industry will affect pricing when you purchase Denver car insurance (age, gender, vehicle, lifestyle, driving record, income, etc.); you will be pleased to know that recent premiums in Colorado are, on average, lower than those for the rest of the country. Simply enter your zip code to find the best deal.
According to the Colorado Division of Insurance, the minimum limits of bodily injury and liability coverage are 25/50/15 ($25,000 per person in an accident, $50,000 for bodily injury per accident; and $15,000 for property damage to others) and can be purchased as a combined single limit or split limit. If purchased as a combined single limit, the minimum amount required under Colorado law is $65,000. When seeking Denver auto insurance quotes, be aware that comprehensive, collision, medical payments or uninsured/underinsured motorist coverage are not required; however, they must be offered by insurance companies. Remember that if you have a car loan, or have leased your automobile, your lender may require you to carry certain coverage until the loan/lease is paid.
In 2003, Colorado repealed its "no-fault" insurance law to become a modified no-fault state. Simply put, a no-fault system means that in the case of an accident, your insurance provider will cover your expenses, but if you are at fault through a negligent act, or tort, you are financially responsible for bodily injury and property damages suffered by the innocent party. In a pure no-fault system, your insurance will pay economic damages (repair costs, medical bills, lost wages, etc.) up to the policy limit and you are prohibited from suing for non-economic damages (pain and suffering, loss of companionship, etc.). Colorado's modified no-fault insurance system means that your insurance company will pay for economic damages, and you are able sue for non-economic damages. The practical effect of this reform is lower insurance premiums. In fact, the Insurance Research Council reports that between 2002 (the year before the laws were repealed) and 2004, the average liability premium costs in Colorado fell 15%, as compared to a countrywide increase of more than 9% over the same two-year period.
Surprisingly, Colorado's extreme weather has little effect on insurance premiums when compared to other states. In January 2010, studies placed Colorado squarely in the middle, ranking it #23 with an average policy of less than $800, while other states average well over $1,000. In addition, although Denver ranked as the number one snowiest city in the US, Denver car insurance premiums were 18% lower than the US average. When using our online service for Denver car insurance quotes, rest assured that you are getting the best deal. Enter your zip code now!