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Colorado Minimum Liability Insurance Requirements

The state requires a minimum level of liability insurance for each driver to operate a motor vehicle in Colorado. If proper insurance is not maintained while driving your license may be subject to suspension. Any insurance company that is licensed to operate in Colorado will offer a minimum level as follows:

$25,000 in Bodily Injury per person
$50,000 in Bodily Injury per accident
$15,000 in Property Damage
$5,000 in Medical Payments (Insured must waive coverage if they don't want it)

Be sure to carry proof of liability insurance on your person or in the vehicle while driving.

What Is The Average Premium for Auto Insurance in Colorado?

$62 per month

According to information by the National Association of Insurance Commissioners for 2007 the estimated monthly average is $62. This is an estimate of the combined average premium per insured vehicle with liability and may include comprehensive or collision coverages.

Are you paying too much for auto insurance, get quotes to compare rates in your area.

Is Colorado a No-Fault State or Tort Insurance?

In 2003 Colorado repealed its no-fault insurance law which lowered the cost of insurance for most consumers in that state. According to a study by the Insurance Research Council in 2004 auto injury claim costs reduced to levels seen prior to rapid increases in 2002. Average liability insurance costs dropped 15 percent between 2002 and when the law changed in 2003.

Colorado SR-22 Auto Insurance

Colorado requires drivers with suspended licenses to maintain a financial responsibility filing called SR-22. For most drivers whose license has been suspended you must file this form. In most cases involving driving under the influence of alcohol you will be required to file an SR-22 with the Colorado Division of Motor Vehicles. This filing is normally required for a period of 3 years but may be longer depending on your court order. Reference our SR22 insurance page for more details about SR-22 forms.




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