Despite a rise in premiums that began in September 2010, the average annual premium for Colorado is relatively low at $1208 for 2011, which is $232 lower than the national average.

Annual Changes

The 2011 premium is 10% lower than the average premium in 2010, and this follows a 17% drop in insurance costs between 2009 and 2010. Compared to the beginning of 2010, the rate in the beginning of 2011 is substantially lower. The downward trend may or may not last; rates may even rise based on monthly trends for the fall and winter of 2010. Monitoring prices and requesting quotes from this site is the most effective way for drivers in Colorado to obtain the lowest possible premiums.

Seasonal Changes

In 2010, there were marked fluctuations in average premiums at different times during the year. A substantial rise in the premium in April only stabilized in July, and afterward, a marked drop was seen in September, followed by small increases every month until January 2011. This was one of the most volatile patterns seen in any state, and Colorado residents are advised to monitor prices through this site in order to ensure the best rates.

Insurance Requirements

The minimum insurance requirements in Colorado include personal liability coverage of $25,000 per person and a $50,000 limit per accident, and the minimum property damage liability coverage is only $15,000. Colorado is under tort law, where one party must be judged responsible for any accident and that party is then held liable for the entire cost of the accident. Higher limits are strongly recommended to protect assets in the event of a lawsuit. Coverage against damage caused by an uninsured or under-insured driver is available in Colorado, and is highly recommended.

Advice for Getting the Best Deals

Colorado insurance companies include nationwide as well as regional insurers. Each company sets its own rates using its own criteria. Obtaining multiple quotes from reliable insurance companies that are rated A or higher by A. M. Best is highly recommended, and checking J. D. Power ratings for consumer satisfaction is also very helpful.

The easiest way to get the lowest rates for car insurance in Colorado is by obtaining multiple quotes and monitoring prices through this site at regular intervals.