All motor vehicles that operate on public roads in Colorado must be insured. Colorado drivers must be able to prove that they have insurance when they register a vehicle. In addition, people who drive in Colorado must also carry proof of insurance whenever they are on the road. However, people who live in the state only part of the year and military personnel may be exempt from certain insurance requirements.
Drivers who cannot prove that they carry state minimum liability coverage when they are pulled over will have four points deducted from their driving record. This will almost always cause their insurance premiums to go up. In addition, they will be fined at least $500. Drivers who are caught without insurance twice will be subject to a $1,000 fine. Their license will also be suspended for four months. People who are found driving without insurance a third time have a pay another $1,000 fine. They will also have to perform community service, and their license will be suspended for eight months.
Drivers in Colorado must carry $15,000 to pay for property that they damage in an accident. In addition, state laws require drivers to obtain at least $25,000 in insurance coverage for bodily injury to one party in an accident. They must also have $50,000 in coverage to pay for bodily injury to two or more people when accidents occur.
The Colorado Division of Insurance assists residents with insurance issues and regulates the insurance industry in the state. They advise people about their rights as insurance consumers and publish helpful information about state insurance laws and statutes. Colorado drivers can contact this agency if they want more information about particular insurance companies and agents in the state. They can also contact the Division of Insurance to check on disciplinary actions taken against insurance providers and verify insurance licenses.
Drivers in Colorado pay a bit more for their car insurance than drivers in many other states. In 2008, 34 states had lower average car insurance premiums than Colorado. In that year, Colorado drivers paid $923.16 on average for auto insurance. Liability coverage averaged $475.86 per year, and drivers paid $323.81 for collision coverage on average. In addition, Colorado drivers paid an average of $321.19 for comprehensive coverage.
Many quality insurance companies provide coverage in Colorado. State residents can be sure that they can always find a quality insurance company that can meet their needs.
Everyone always wants to find the best rates on car insurance premiums. Colorado drivers should always look for the best discounts available to help them get the cheapest rates. While many people know about discounts for good drivers, there are also some less obvious ways to save money on monthly car insurance premiums.
Many insurance companies offer discounts on comprehensive car insurance policies when Colorado drivers park their cars indoors at night. When cars are safely locked inside a garage, they are much less likely to be damaged or stolen. Insurance companies have to pay out less in claims for vehicles that are parked in a garage at night, and this allows them to provide Colorado drivers with cheaper rates. In addition, drivers may want to look into defensive driving courses in their area. These courses are offered all over Colorado. Not only will residents learn advanced driving skills, they can also receive discounts on their car insurance premiums when they inform their insurance company that they have passed the course.
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