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Colorado can be a scenic place to live, particularly for those seeking the Western charm Denver and other Colorado cities can offer. However, before driving off to a new Coloradan home, drivers should know what they need to do to register their car and make sure their insurance coverage is up to par with Colorado auto insurance laws.

Since different states have different auto insurance coverage requirements, getting new auto insurance quotes in Colorado may be necessary before moving there. In addition, not all companies operate in every state. Drivers may be able to stick with their current auto insurers or switch to a new company if they find a better plan.

Colorado minimum coverage requirements

According to Colorado law, the minimum limits of liability coverage for split-limit policies are 25/50/15, meaning $25,000 of coverage per person in an accident, $50,000 for bodily injury per accident and $15,000 for property damage caused to others during an accident. However, for those trying to obtain a single-limit insurance policy, Colorado auto insurance laws require a minimum of $65,000 coverage.

While Colorado requires bodily injury and property damage liability insurance, but uninsured/underinsured insurance is optional. However, all insurers in the state are required to offer it. Companies may also offer other optional insurance options, such as collision, comprehensive or medical payments coverage.

Colorado auto insurance rates have fallen

Auto insurance rates have changed drastically in Colorado during the past decade. According to the Rocky Mountain Insurance Information Association, rates dropped 32 percent between May 2003 and May 2007. In dollars, that equaled a decline from average premiums of $1,289 in 2003 to $872 in 2007. The group credits the decline to the removal of the no-fault insurance system, and its subsequent replacement with the torts system.

No grace period on payments

The laws regarding auto insurance in Colorado also have specific requirements regarding payment grace periods. The state has no statutorily required grace period, meaning auto insurers can take action as soon as a payment deadline has officially been missed. That could lead to higher premiums or late fees.

Knowing the relevant Colorado auto insurance laws and receiving online quotes may help new Colorado residents make informed decisions regarding their vehicle’s coverage. After receiving car insurance quotes in Colorado, drivers can select the company that best suits their financial needs and transition easily into becoming a Colorado resident.