Factors that Affect Colorado Car Insurance Rates

When you are looking for Colorado car insurance coverage, you need to be aware of the factors the company will consider when determining whether to provide you with coverage.

The most important factor affecting your car insurance rates is your driving record. If you have been involved in one or more at-fault accidents within the past three-five years, you will be given a higher rating and have to pay more for coverage.

Living in an area where there have been numerous auto insurance claims also means paying more for your car insurance. Urban areas tend to have higher claim rates for accidents, acts of vandalism and theft, which means that city dwellers tend to pay more for coverage than their rural counterparts.

An applicant’s age, gender and marital status all play a role in car insurance pricing. Younger drivers will be charged more than a person who has several years of driving experience, and women are considered to be less risky to insure, which means lower rates. Getting married means lower car insurance rates, since insurance companies consider people who have said “I do” to be more responsible than their single counterparts.

The make and model of the vehicle is also factored in when Colorado insurance companies are setting rates. If you choose to drive a muscle car, you will be charged more for your coverage. Your annual mileage is also added to the mix, since the more time you spend behind the wheel increases your risk of being involved in an accident.