Boulder, CO Car Insurance
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Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.
Even the most experienced drivers can sometimes get into accidents. That is why if you own a vehicle in Boulder, you are required by Colorado state law to have car insurance. From fender benders on 28th Street to multi-car collisions on Route 119, a reliable auto insurance policy can shield you from large financial losses in the wake of a car crash.
Finding the best car insurance is easy when you work with a local independent insurance agent. These agents can provide you with a variety of customized auto insurance quotes so you can be sure you are purchasing great coverage at a competitive price. Find an independent insurance agent in or near Boulder to get started.
How Much Does Car Insurance Cost in Boulder, CO?
The good news is that the average cost of car insurance in Boulder is lower than both the national and state average rates.
- National average annual car insurance cost: $1,311
- Colorado average annual car insurance cost: $1,245
- Boulder average annual car insurance cost: $1,006
Of course, rates can vary significantly from one driver to the next, so you can expect your actual quote rates to differ from the city’s average. Car insurance costs are calculated individually according to several considerations. Some things that can influence your rate include:
- The make, model, trim, and year of your the vehicles you are insuring
- Your age, gender, occupation, driving history, and credit score
- The estimated number of miles you drive your car each year
- The accident and auto theft rates in the vicinity of your home
- Whether you are bundling your coverage with another policy like homeowners insurance or renters insurance
Comparing rates from multiple companies lets you be sure you are getting your policy at a competitive price. An independent insurance agent in Boulder can help you easily obtain and review customized car insurance quotes from a variety of reliable insurance companies.
What Are the Car Insurance Requirements in Boulder?
As a resident of Boulder, you must remain in compliance with Colorado state law. This state only requires drivers to carry liability insurance, which is designed to cover damage and injuries sustained by other people if you cause an accident. You must have, at a minimum, liability insurance in the following amounts:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $15,000 in property damage liability per accident
Although a minimum-coverage policy may be your least expensive option, it is not always the best choice. If you cause a serious crash and your insurance limits are too low to cover your liabilities, you will be expected to make up the difference out of pocket.
That is why many Boulder vehicle owners purchase car insurance with much higher liability insurance limits than the state of Colorado requires. You can further boost your liability coverage by purchasing umbrella insurance. Talk to your local insurance agent to find out how much it will cost you to obtain different levels of coverage.
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What Else Can Boulder Car Insurance Cover?
In addition to the coverage that is required by state law, you have the choice to include any of the following coverage options in your car insurance policy:
- Personal injury protection (PIP): This can pay for any necessary medical treatment needed by you or your passengers if you cause a collision.
- Comprehensive insurance: This can pay to repair or replace your vehicle if it is damaged by a non-collision event such as a flood, fire, or falling object.
- Collision insurance: This can pay to repair or replace your vehicle if it is damaged in a collision, regardless of who was at fault.
- Uninsured motorist insurance: This can pay for your medical treatment if you are in an accident that was caused by an uninsured, underinsured, or hit-and-run driver.
- Roadside assistance and towing insurance: This can pay for assistance if your vehicle becomes disabled while you are out on the road.
- Rental reimbursement insurance: This can pay for the cost of renting a vehicle while covered repairs are being made to your car following a covered event.
Talk to an insurance agent in Boulder to learn more about these coverage options and for help determining which, if any, are a good fit for you.
How High Is the Number of Uninsured Motorists in Colorado?
Driving without insurance in Colorado is illegal. If caught, violators can face fines ranging from $500 to $1,000, suspension of their driving privileges, and even court-ordered community service. Despite this, many people opt to drive in uninsured vehicles.
- Percentage of US drivers who are uninsured: 12.6%
- Percentage of Colorado drivers who are uninsured: 15.3%
Uninsured motorist insurance is not required in Colorado but, for many, this coverage can prove beneficial. Rather than going through the courts to get compensation owed to you by an uninsured driver, you can get coverage for your medical costs immediately. Your insurance company will then take on the task of pursuing legal action against the at-fault driver.
Does Boulder Car Insurance Cover against Vehicle Thefts?
The auto theft rate in Boulder is lower than both the national and state average rates. This is not to say it does not exist. Around 200 vehicles are reported stolen in this city every year.
- National auto theft rate per 1,000 vehicles: 2.28
- Colorado auto theft rate per 1,000 vehicles: 3.80
- Boulder auto theft rate per 1,000 vehicles: 2.01
You cannot be compensated for a stolen car unless your auto insurance policy includes comprehensive, or “other than collision,” insurance. This insurance is optional, but most lenders will require you have it until your vehicle is paid in full. Also, if you are leasing your car, the dealership will probably require you to have this coverage.
Comprehensive insurance covers far more than just theft. It can also reimburse you for loss and damage to your car caused by a variety of other non-collision hazards. Talk to your insurance agent to find out how much it will cost you to add comprehensive coverage to your car insurance policy.
Why Contact an Independent Insurance Agent in Boulder, CO?
As a vehicle owner in Boulder, you can turn to an independent agent for help when you are looking for a reliable auto insurance policy that meets your coverage and budgetary needs. These professionals are free to work with a number of different insurance providers, so they can assist you in finding the best and most affordable policy.
Find an independent insurance agent in or near Boulder to learn more. You can start comparing customized car insurance quotes in no time.
http://www.naic.org/prod_serv/AUT-PB-14.pdf
http://www.city-data.com