What is the Average Cost of Car Insurance in Boulder?

Located 25 miles northwest of Denver, Boulder is home to the University of Colorado. The city has a population of over 105,600 and an average commuting drive time of 19.1 minutes, which is considerably less than the national average. The median household income here is $66,117, some of which can be attributed to the municipality’s younger, college-age population. Boulder is one of the safer cities in the United States when it comes to vehicle thefts. According to the National Insurance Crime Bureau (NICB), Boulder had 718 vehicle thefts in 2018 for a rate of 220.19 per 100,000 vehicles. That figure places Boulder at 156th for thefts among American cities.

The average annual premiums for auto insurance in Colorado is around $1,000, which is considerably less than the Colorado average of $1,814. Lower theft and automobile accident rates are a factor in keeping car insurance premiums less expensive here.

What are the Insurance Requirements in Boulder?

When seeking an auto insurance policy in Boulder, you must have a policy that provides you with a minimum of $25,000 in bodily injury liability per person, $50,000 in body injury liability per accident, and $15,000 in property damage liability per accident. These are the lowest level of coverage required and may not be recommended if you can afford a more comprehensive policy that will protect your assets if you are in a serious accident that produces considerable damage.

Other coverage that you can consider for your Boulder auto insurance policy includes:

  • Personal injury protection (PIP) to pay for medical treatment
  • Comprehensive insurance for non-collision damage
  • Collision insurance to cover damage to your vehicle, no matter who is at fault
  • Uninsured motorist insurance
  • roadside assistance and towing
  • Rental car reimbursement

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Boulder by Insurer

With average annual income in Boulder being slightly less than in some other areas of the state, many drivers may look for the most economical policies. Allstate Fire and Casualty Insurance Co., Farmers Insurance Exchange, Geico Casualty Co., etc. provide great policies in Colorado. When searching for inexpensive policies, drivers should be sure to check the company’s ratings, as well as what the policy covers, to ensure that you don’t shortchange yourself.

Compare auto insurance quotes with our expert guide here.

Low Cost Auto Insurance for Bad Credit in Boulder

As with most other states, Colorado companies can use your credit score to help them determine your policy premium. Thus, if you have bad credit, you can expect to have a higher insurance rate. You cannot be denied insurance, but you may have a more difficult time securing a policy.

Learn how a bankruptcy affects your credit and auto insurance rates.

What is the Difference Between Full Coverage and Liability?

Liability Only Insurance Coverage

Liability insurance covers the possible cost of damage you cause to others while driving. This could mean the cost of medical care for those injured in an accident or repair costs of the damage you have caused to other vehicles.

With liability insurance, there are 3 key numbers: injury coverage per person, coverage for total injury per accident, and property damage coverage per accident. Each state has different requirements for car insurance minimums. In a policy that has coverage for 15/30/25 means $15,000 per injured person, with a maximum of $30,000 for all the people who are injured in an accident, and $25,000 in coverage for property damage.

Full Coverage Auto Insurance

While liability insurance covers other people and vehicles in an accident where you were the one considered at fault, full coverage insurance can also cover you and your vehicle as well. Full coverage includes two different types of coverage combined into one insurance plan; comprehensive insurance and collision.

Comprehensive coverage is for the damage of other vehicles that are outside of driving situations such as weather damage, fire, or theft.

Collision coverage is basically to pay for damage that you caused while driving such as an accident with another vehicle, hitting an object, or driving off the road.

The difference between collision and comprehensive is, if a tree were to fall on your car and damage it, comprehensive insurance would cover it, however, if you were driving and hit a tree causing damage to your car, then it would be covered by collision.

Key Differences Between Full Coverage and Liability Only

Liability coverage kicks in when you back up and hit a kid on a skateboard you did not see. It will also pay for a gate you run into and damage.

Collision insurance pays out when you back into a large rock at a campground, denting your pickup’s tailgate. It will pay to get the tailgate repaired.

Comprehensive coverage will pay for the repair costs when something flies out of the back of a semi-truck and you end up with a cracked windshield.

Average Annual Car Insurance Rates in Colorado by City

Additional cities in Colorado you can check out.


Tips to Get a Cheaper Car Insurance Rate

Save on Your Insurance Policy Rates With These Discounts in Boulder:

  • Shop around:

    It could not be clearer. The smallest difference in our driver demographics between the most expensive and the bargain insurance rate was over $1,100 yearly. It is a good idea to shop around yearly, especially if your policy rate goes up, since insurance carriers can change their rates whenever they feel it’s necessary.

  • Avoid accidents and moving violations:

    These will increase your rate, sometimes substantially.

  • If you have an accident or moving violation:

    It is often a good idea to spend a little bit of money now and attend traffic school, rather than have these violations stay on your driving record for years.

  • Insure your home and car with the same company:

    If you can insure your home or apartment and your vehicles with the same insurance carrier, you can also save money, as there is often a discount for bundling multiple services.

  • Look for discounts :

    Often, there are good driver rates for those with no moving violations or student driver rates. Sometimes, your insurance agent will not tell you about these discounts, but you can find them online.

  • Rates are influenced by the type of vehicle :

    Insurance rates are much higher if you carry full liability and have a vehicle you are paying off. Sometimes it is best to buy a new car and just maintain it thoroughly. Eventually, you will have no car payment, and you can eventually drop the collision insurance. When cars get to a certain age, you will not receive enough back from the insurance company if your car is totaled in an accident to justify buying the collision insurance each year.

Use our guide to find discounts and lower your insurance premium costs.

Here are Some of the Typical Factors that Affect Your Boulder CO Car Insurance Premiums

Your car insurance rates can change over time. One of the most reliable factors that will impact your premiums is your age. The older you are, the lower your insurance premiums should be. You may also find your rates vary depending on the car you drive. Sports cars or jeeps may incur higher premiums, while SUVs and sedans are cheaper to insure.

Rates are also impacted by your gender and age, though young women will have lower rates than their same-aged male friends. Actuarial tables show that young drivers are more prone to speeding, alcohol infractions, and accidents than older people, as are young males rather than females.

You can also reduce your regular premium payments by opting for a higher deductible on your collision and comprehensive coverage packages. You can also opt to pay your premium in a larger, single payment every six months rather than spreading the premium out over monthly payments.

Use our guide to compare car insurance rates with tickets.

Helpful Boulder, Colorado Vehicle Resources:

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