Auto insurance in Colorado comes in many different forms, as there are several coverages available. All drivers are required to have liability coverage, but full coverage car insurance in Colorado helps you protect against much more.
When you have liability coverage, you’re protected in the event of an accident in which you’ve caused damage to another party’s property or if you’ve caused bodily injury to someone. Therefore, your own vehicle will still need protection or you’ll need to restore it out of your own pockets.
Cheap full coverage insurance in Colorado is available through many carriers and finding the right coverage for you is simpler than you might think. Learn more about how to better protect your vehicle from harm without overspending in the process.
What Is Full Coverage Insurance in Colorado?
When you are a driver and have liability coverage, collision coverage, and comprehensive coverage, this is considered full coverage auto insurance in Colorado. You can find cheap full coverage insurance in Colorado in many ways, including comparing companies, discounts, and bundling.
Again, liability coverage restores another party’s property or covers expenses regarding their bodily injury after an accident, but there are other potential perils and situations to consider. For example:
- If you are in an accident and don’t have additional coverage, your vehicle is not covered by your own liability coverage policy.
- Damage to your vehicle outside of an accident isn’t covered unless you have more coverage than a liability policy.
Full coverage auto insurance provides protection for liability but also combines it with collision coverage, which covers your vehicle after an accident regardless of fault, and comprehensive coverage, which protects your vehicle against damaging perils that exist outside of accidents.
Why Colorado Drivers Should Consider Full Coverage
It can be tempting for some drivers to enroll in liability coverage and call it a day. This may seem like a great idea if you’re looking to save on costs in the short term, but if you don’t have the right coverage for your level of risk, you may end up paying much more following an accident or another peril.
Not only can this be a financial burden, but it can be an issue for those who rely on their vehicle to get around for work, school, healthcare, or any other type of errand. This means that it’s best to determine your risks and protect against them, to avoid paying more money or going without a vehicle.
When comparing full coverage and liability car insurance, it’s also important to consider deductibles. Here are the key differences among each type of coverage:
- Liability coverage has no deductible.
- Comprehensive coverage deductibles range from $500 to $1,500 on average.
- Collision coverage deductibles can be as low as $200 or as high as $2,000.
Higher deductibles mean higher out-of-pocket expenses after an accident, but lower monthly premiums. Liability coverage may be cheaper initially but cost more in the long run. Colorado drivers face high insurance costs due to increased risks, but comparing policies, bundling, and seeking discounts can help save money.
While full coverage auto insurance in Colorado isn’t mandatory by law, there are several drivers that may be required to maintain the coverage. This primarily applies to those that are using financing to purchase their vehicle, as full coverage is often a requirement of the loan.
Many other drivers should consider their own risks, however, including those more prone to accidents. If you have younger drivers, full coverage can help you prepare for accidents and mishaps.
It’s also important to remember that full coverage is especially helpful for residents of Colorado living in areas with elevated risks of damage from weather-related damage.
How To Find Cheap Full Coverage Insurance in Colorado
Our team helps drivers find the cheapest full coverage car insurance in Colorado without all of the hassle of gimmicks you might find elsewhere. Here’s how we can help you save on premium and stay better protected at the same time:
If you’re going to purchase more coverage, you’re going to pay higher premiums as a result. This means that by default, full coverage auto insurance is going to cost more than only having a single coverage.
But insurance is about risk. By assessing your personal risks, our agents are capable of finding the appropriate level of coverage you need and can adjust the way you are protected on a personal level.
Because risk is such a large component of car insurance, it should come as no surprise that insurance companies are going to assess how much risk you possess as a client. This will be the deciding factor on how much your premium will cost.
The higher your risk is, the more you’re going to pay and insurance carriers have a list of factors to look at. This includes personal factors such as your age or gender as well as regional and statewide trends, including population and speed limits.
However, each company looks at these factors differently. What may be a bigger deal to one company may not be as big of a deal to another, and this is what creates a discrepancy in auto insurance premiums among carriers.
Therefore, you can actually have the same exact coverage among two companies costing vastly different costs. Our team has partnerships with many of the top-rated companies available to drivers in The Centennial State and can help you quickly compare your options for the lowest rate available.
You shouldn’t have to driver underprotected nor should you have to overpay for your coverage. By comparing your options, you’ll receive more options, discounts, bundles, and overall opportunities to save.
Full coverage auto insurance in Colorado is available and can help you avoid a major financial hurdle after an automobile accident. Get more for less by giving us a call today or use our free online auto insurance quote tool for an accurate, quick quote.