You have plenty of options when it comes to shopping for auto insurance. Working with an agent gives you an advantage when you need answers to questions about your policy and help assessing your coverage needs. Working with an independent agent offers even more benefits – particularly when it comes to getting a competitive rate. As a local Golden, CO independent car insurance agent, Scott Hopson can help you find quality coverage from leading Colorado insurance companies at the competitive rate you deserve.
Car Insurance FAQs
How much auto insurance do I need in Colorado?
The Colorado minimum auto insurance requirements are designed to provide a small level of protection in the event you damage someone else’s property, or you cause harm to another person. In Colorado, drivers need a minimum of $25,000 per person and $50,000 per accident for Bodily Injury Liability Coverage and $15,000 per accident for Property Damage Liability Coverage.
What is the best deductible?
The best deductible is what you can afford to pay out of pocket when you file an auto insurance claim. The higher the deductible, the lower your premium will be, and vice versa. A higher deductible means your accepting a more significant portion of the risk yourself. It is best not to take on more risk than you can afford.
What is “full coverage?”
There is no such thing as “full coverage” insurance. Full coverage auto insurance is a term that is used to suggest you have chosen protection that goes beyond the minimum coverage required by your State. It typically includes collision and comprehensive coverage, medical payment coverage, and uninsured and underinsured motorist coverage.
How can I save money on my car insurance?
You can save money on your car insurance by avoiding moving violations, crashes, DUIs, and other incidents. By having a clean driving record, you may also qualify for a safe driver discount. Students may qualify for good student and student-away-at-school discounts. Your vehicle’s anti-theft devices and safety features may also provide more discounts. Paid-in-full, multi-car, and prior carrier discounts are also common.
How long does an auto accident affect my insurance?
A crash won’t impact your car insurance premiums forever. After about three to five years, your rates should recover. Exactly how long this takes will depend on the type of accident as well as the company you are insured with.
Is buying direct cheaper than buying through an agent?
Buying direct is not always cheaper than buying through an agent. You might think that cutting out the middleman would result in cheaper car insurance rates, but when it comes to insurance, this isn’t the case. In fact, an independent agent, one that represents many insurance companies, can often save you money.
What is the best auto insurance company?
The best auto insurance company differs per individual. No insurance company is objectively the best. It all depends on what you’re looking for. Do you want the best customer service, the broadest coverage, or the lowest rates? Or maybe you have unique coverage or underwriting needs? An agent can help you compare car insurance quotes from multiple insurance companies and find the right policy for your situation.
What is the best or cheapest auto insurance rate?
The best or cheapest auto insurance rate can be found by comparison shopping. Compare premiums as well as differences in coverage. An independent insurance agent can help. They can provide options from multiple carriers, along with the expert guidance you need to make a smart choice.
How do I switch to a new auto insurance company?
You can switch to a new auto insurance company at any time, but to avoid overpaying or violating state law, you do need to watch out for a couple of things. Car insurance policies are often sold for coverage periods of six months or one year. In some cases, you may be charged a fee if you decide to cancel your insurance policy early. You may also be entitled to a refund for the unused portion of the premium. You also want to make sure you have continuous coverage to avoid a coverage gap.
Car Insurance Requirements in Colorado
Most states require drivers to carry minimum amounts of car insurance by law. Colorado is one of those states. All newly issued car insurance policies provide coverage for:
- Property damage liability
- Bodily injury liability
- Uninsured/underinsured motorist protection (unless waived in writing)
- Medical Payments (unless you opt-out)
Additional coverage types are also available and generally recommended for most drivers.
Choosing Your Colorado Car Insurance Coverage
When selecting your insurance coverage, you may have the option of several different types of coverage besides those required by state law. All of them serve an important purpose and could potentially reduce your costs and losses in the event of an accident.
The mandatory liability requirements for Colorado drivers are:
- $25,000 for individual bodily injury liability
- $50,000 for total bodily injury liability per incident
- $15,000 for property damage liability
Keep in mind that these limits are simply the minimum amount you can purchase to be legally compliant with state law. They are not, however, the recommended amounts for most drivers. In fact, many Colorado policy-holders choose much higher, six-figure limits that better protect against legal fees and judgments stemming from lawsuits. If you are under-insured for liability damages, you could be responsible for paying for a victim’s lost wages, medical bills, property damages, and other expenses out-of-pocket.
Uninsured Motorist and Underinsured Motorist
If you are injured in a hit-and-run accident or by an uninsured driver, your uninsured motorist coverage can help pay for your medical expenses up to the limits in your policy. If you are injured by a driver who has too little bodily injury liability coverage to pay for your expenses, your underinsured motorist protection can help fill in the gaps.
Medical payments coverage is optional but can be purchased to provide compensation for you and your passengers’ medical bills if you are injured in an accident – regardless of fault. Insurance companies are required to offer you at least $5,000 in medical payments protection, although additional coverage may be available. This may not be enough to cover the full cost of your medical expenses, but it may be enough to pay for immediate care following an accident.
If you lease your car or finance it through a lender, your financial agreement may require you to carry collision coverage that protects the value of the asset. For everyone else, it is optional. However, we typically recommend collision coverage to all drivers who wish to protect the value of their cars against damage or loss related to an accident.
Comprehensive coverage is also recommended for most drivers, as it covers damages and losses related to non-collision events. You can generally file a claim against your comprehensive coverage if your car is stolen or you hit a deer on a rural road one night. Without it, you might be paying for the damages yourself.
Note that both collision and comprehensive coverages are subject to a deductible. When choosing your deductible, be sure to select an amount you could reasonably afford to pay should you need to file a claim in the near future. Low deductibles reduce your financial responsibility after a loss, whereas high deductibles could reduce your policy premiums.
Roadside Assistance and Towing
Don’t fret next time you have a flat tire or lock your keys in your car. Most insurance companies offer some type of roadside assistance coverage – often with 24-hour protection. Your policy can also include towing coverage to move your vehicle to the closest repair facility after an accident or other covered event.
If your vehicle is out of commission during the repair process – even for just a few days – you will need to find alternative transportation solutions. Those costs can add up, quickly adding to the overall cost of an accident or loss. That is why many Colorado drivers add coverage for rental cars, which typically pays a limited amount of money toward daily rental fees for a limited amount of days listed in your policy.
Affordable Car Insurance and Discounts
Most car insurance companies offer discounts for certain types of behaviors that reduce the risk of a loss or claim. Examples include:
- Good student discounts
- Low mileage discounts
- Safe vehicle discounts
- Safe driving discounts
- Multiple-policy discounts
- Multiple-vehicle discounts
- And more
When you choose an independent agent, you are choosing to work with someone who can apply discounts from several insurance companies and compare the savings to assure you are getting the most competitive rate on the coverage you want.
Choose an Independent Agent for Colorado Car Insurance
Scott Hopson is a local independent car insurance agent offering customers personalized coverage assessments, ongoing support, and genuine customer service. In partnership with Couri Insurance, Scott can offer his clients quotes for policies from multiple Colorado insurance companies. If you need coverage for your vehicle, contact Scott Hopson for your free quote today.