Auto Insurance in Arvada, Colorado
As a driver, you know that having auto insurance is mandatory. However, the coverage you need and the factors that impact your rates can be unique to Colorado.
All states require drivers to carry liability insurance, which covers damages you may cause to another person or their property, but it's important to note that these minimums may not be enough to cover the full costs of an accident. In fact, Colorado has some of the highest average car insurance rates in the country, in part due to the high frequency of hail and deer-related accidents.
Unique Facts About Auto Insurance in Colorado
One unique factor in Colorado is the state's modified comparative negligence law. This means that if you are found to be partially at fault for an accident, your compensation may be reduced by the percentage of fault assigned to you. For example, if you are found to be 30% at fault for an accident, you may only receive 70% of the total compensation making it crucial to have adequate liability coverage.
Another factor to consider is uninsured motorist coverage laws. Uninsured motorist coverage is not mandatory, but it is highly recommended in Colorado. In fact, the state has one of the highest rates of uninsured drivers in the country, with an estimated 13.3% of drivers being uninsured.
Why is Auto Insurance Important if You Live in CO?
In recent years, Colorado has seen a significant hike in auto insurance rates, with some drivers experiencing a rate increase of up to 40%. One of the main reasons for this increase is the high frequency of accidents in the state, particularly those caused by severe weather conditions like snowstorms. The rising cost of auto repairs and medical care has also contributed to higher insurance rates, making it all the more imperative to work with an independent agent.
We here at Trust Hall have access to multiple insurance carriers and can shop around to find the best coverage options for you to meet your financial and regional needs. They can also help you identify any potential discounts you may be eligible for, such as safe driving discounts or discounts for installing safety features in your vehicle. Overall, by working with an independent agent, you can find the right coverage at a fair price, even in a market with rising insurance rates.
Overall, as a Colorado driver, it's important to makes sure that you are aware of the rising costs, special conditions, and the impacting needs of the automotive insurance industry that will be a part of your everyday life, and having a friend on your side at Trust Hall can help you navigate in making the right decision.