Which Company Has the Lowest Cost of Car Insurance in Fort Collins?

Fort Collins, Colorado is the fourth largest populated area in the state of Colorado. With a population of 170,243 as of 2019, the majority of residents are college educated and work in professional fields. The median household income is $62,152, slightly lower than the national median. Fort Collins residents have a shorter commute to work than other in the nation, with an average commute time to work of 20.1 minutes, compared to 26 minutes nationally. And, although the city has a relatively high crime index, vehicle thefts are relatively low. Only 1.11 vehicles per 1,000 were reported stolen last year, well below the national average of 2.29, but insurance rates are still higher in Fort Collins in comparison to other parts of the state, as well as the country.

What are the Insurance Requirements in Fort Collins?

Colorado, like nearly all other states, requires its drivers to carry liability insurance to legally drive in the state. The minimum required coverage is as follows:

  • $25,000 for bodily injury or death of one person per accident
  • $50,000 for bodily injury or death of more than one person per accident
  • $15,000 for property damage

Although these levels will allow a driver to legally operate a motor vehicle in the state, it’s often advised that drivers carry more than the minimum. In the event of an at-fault accident, a driver could be underinsured for injuries and damages and they would then be personally, financially responsible for the additional costs. Selecting as much coverage as financially possible is a better option. Also, the minimum requirements only cover other peoples’ injuries and property, it provides no protection for the at-fault driver’s vehicle, injuries, or property damage.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Fort Collins by Insurer

Choosing the right insurance company requires a driver to consider many things. First, how much coverage is required on the driver’s vehicle? A car that still has a loan will probably need more comprehensive coverage than someone who owns their older car outright. And, although getting a good premium cost is important, the trade-off should not be weak customer service. Drivers should choose an insurance company with a favorable customer service rating, as well as reasonable premiums for the coverage they need.

Compare the top auto insurance companies quotes by state.

Low Cost Auto Insurance for Bad Credit in Fort Collins

Insurance companies that operate in Colorado are allowed to adjust rates for drivers with less-than-perfect or bad credit. Insurance companies will charge higher premiums for drivers with blemished credit because they are considered a higher risk. The higher prices are most often reflected in higher premium costs, or a higher down payment might be required. If an insurance company takes your credit score into consideration before offering to cover your vehicles, they are required to tell you because you must give the company permission to attain your credit history.

Are you looking for cheap insurance with bad credit? Check out this guide.

What is the Difference Between Full Coverage and Liability?

What is Liability Only 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.

What is Full Coverage Car 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.

Top Factors and Differences Between the Types of Coverage

The difference between full and liability coverage is quite dramatic. With liability, insurers gamble that they will only have to pay for one car in an accident. With a comprehensive or full coverage policy, insurance companies know that they are taking on more liability exposure and so their rates reflect the increased risk. In the case of a comprehensive policy, they might even have to cover claims for damages that don’t arise from a traffic incident.

Average Annual Car Insurance Rates in Colorado by City

Additional cities in Colorado you can check out.

Car Insurance Discounts to Lower Your Policy Rates

Find additional ways to save on your Fort Collins car insurance premiums with these insurance discounts:

  • Avoid Accidents

    Each time you are at fault in an accident, your insurance company must pay out to cover your liability. Thus, your rates are definitely going to rise any time you cause an accident. The longer you are able to maintain a driving record clean of accidents, the more favorable your policy will be in the eyes of insurance companies.

  • Don’t Speed

    Insurance rates are set relative to the risk you pose as a driver. Since speeding is positively linked to accidents, and thus to insurance claims, your tickets will also result in higher insurance rates.

  • Shop Around

    Insurance is like any other business and so some will charge lower rates in order to gain more customers. Before you purchase a policy from the last company you saw on television, do some homework and determine which policy is the best for you, even if it’s not the least expensive.

  • Comprehensive Insurance Packages

    Typically, insurance companies insure multiple asset types. They write policies for homes, boats, renters, and they can also cover your health. If you package your automobile insurance with your home, boat, and health insurance, you will likely pay a bit less for your car insurance.

  • Multiple Vehicles

    If you have more than one car, combine them on the same policy. The more cars you add, the lower your rates will be on a per-car basis.

We can help you get the best auto insurance discounts to lower your coverage costs here.

Here are Some of the Typical Factors that Affect Your Fort Collins Car Insurance Premiums

There are many factors that affect your insurance rates, number one being your driving record and whether or not you have had previous accidents where you were at fault. Other things that can affect the amount you will have to pay for auto insurance are:

  • The company that ensures you
  • Not only the city and state you live in but the area (zip code) you reside in as well
  • Your age
  • Whether you are male or female
  • Your earnings
  • Marital status
  • Your credit score
  • Speeding tickets or other tickets you have incurred
  • How many years of driving experience you have
  • How many miles you drive regularly, including your commute to work
  • The year, make, and model of your vehicle
  • Where you park your car when not in use

Learn how a bad driving record can affect your car insurance rates.

Helpful Fort Collins, Colorado Vehicle Resources:

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