We want to help people understand car insurance in Colorado Springs and hopefully save you some money on your insurance while doing it. If you are a first time driver and need auto insurance for your first vehicle or have been driving for years, and looking to switch your insurance plan then keep reading. We want to better inform all drivers about their vehicle insurane plans in Colorado Springs.
Colorado Springs Auto Insurance Minimum Requirements
Vehicle owners driving in Colorado Springs are required to have an insurance policy with at least these minimum requirements below
- Bodily Injury: $25,000 per person, $50,000 per accident
- Property Damage: $15,000 per accident
Different Types of Auto Insurance Coverages Available in Colorado Springs
This is the most important coverage for your car. This coverage is protecting your assets. So in simple terms if you cause an accident you will be covered for the accident of the other persons belongings. However the cost for personal insuries and cost of your vehicle is not covered. As well as if in the event of an accident you you get sued for the accident this will not help cover those costs.
If you dont have coverage and need to pay, the state of Colorado can garnish up to 25% of your wages until the damages are completely paid for. So for most people those minimum requirements are not enough.
insurance for non-accident related damages to your vehicle such as fire and theft. You will just have to pay your deductible in the event of something happening.
Insurance for collision accident when your car hits another car or stationary object such as a curb You just pay your deductible in the event something happens.
Insurance for you and your passenger’s medical expenses no matter who is at fault.
insurance if you are in an accident and the driver who is at fault is has no insurance it will cover your medical expenses for the driver or any passengers. It will as well cover if the other driver does not have enough insurance to cover your medical expenses.
Emergency Roadside Service:
A lot of car insurance companies offer emergency roadside service where if your car breaks down they will pay to send someone out to give you a jumpstart or tow etc.
Rental Car and Travel Expenses Reimbursement:
This cover will pay for a rental car while your car is getting fixed to do a claim such as a car accident or from the Colorado Springs hail storm damage however this insurance type does not cover if your car has to go in the shop for mechanical issues. It will even pay for hotel costs if you are not in the Springs when you have a claim and it will take a few days for your car to get fixed
Full Glass Coverage:
Some insurance companies offer a complete glass protection coverage. This covers just like what it sounds like all of your windows. it will completely cover your windows on your car no matter what happens whether it be a crack or just a chip the insurance company will pay for all of the damages and there is no deductible. So no cost to the driver at the time of the claim.
Colorado Insurance Regulations
Insurance coverage varies by state so if you are moving from a different state to Colorado you will need to switch your auto insurance coverage over to a Colorado insurance agent. In Colorado it is required that all vehicles driving have certain auto insurance coverage as mentioned above. However Colorado only requires you to insure the vehicle you are driving not the drivers. So if you have two cars you will need to seperate insurance plans instead of insuring a person. This might make it cheaper for insurance if you have more drivers driving a single vehicle.
New Vehicle Insurance
If you are planning to buy a new car or just bought a new car getting insurance is very important for you can drive it away from the lot. Depending on whether you paid the car in full or took out a loan on the vehicle will depend on the type of auto insurance you will be able buy. If you currently have a loan on your vehicle, it is required/ reccomended to have full insurance on your vehicle. This will protect the loan you have on the vehicle if something is to happen, not that you have to pay the rest of the value of the vehicle and have no compensation for the vehicle you just bought :-(. If you paid the vehicle off then you will be able to choose from full coverage and liablity coverage depending on what coverage you would like to have in the Springs.
Major Auto Insurance Companies in Colorado Springs
- State Farm
- American Family
Questions to Know When Calling an Insurance Agency
- Do you currently have auto insurance?
- Who else will be driving the vehicle?
- Do you own your vehicle?
- Do you still have a loan on your vehicle?
- What type of car do you drive?
- What is your age?
- How long have you been driving?
- Have you ever had a car accident?
- How many miles do you drive a month?
- Have you ever received a speeding ticket?