You can get pay-per-mile insurance in Colorado from Liberty Mutual ByMile and Nationwide SmartMiles. Pay-per-mile insurance is a type of car insurance policy that charges drivers a daily or monthly base rate plus a few cents for each mile driven. Each policyholder’s base rate is calculated according to normal car insurance rating factors, such as driving record, age, and ZIP code.
Notable Pay-Per-Mile Insurance Companies in Colorado
Pay-per-mile insurance can be an easy way for Colorado drivers to save if they use their cars infrequently. For example, retirees, remote workers, and students who walk to class can benefit from pay-per-mile insurance. Individuals or families with an extra car that is rarely used should also consider pay-per-mile coverage.
Yes, Metromile offers full coverage insurance for customers who choose to buy it. Metromile sells all the components of full coverage, including liability, collision, and comprehensive coverage, plus any type of insurance that a state might require, such as uninsured motorist insurance or personal injury protection.
Current and potential Metromile customers can call the company at 1-888-242-5204 to ask about the coverage that is available in their state. For more information, check out WalletHub’s Metromile car insurance review.
In Colorado, drivers need $25,000 of bodily injury liability insurance per person, up to $50,000 per accident, and $15,000 of property damage liability insurance. Colorado does not require uninsured motorist protection, which replaces the liability coverage an at-fault driver should’ve had and pays for your costs up to your policy limits. Coverage like MedPay or personal injury protection pays for medical expenses for you and your passengers, and MedPay is optional in Colorado. PIP is not available.… read full answer
Here’s How Much Car Insurance Drivers Need in Colorado:
If you lease or finance your car, you may be required to carry coverage types that are not mandatory under Colorado law. Lenders usually require comprehensive and collision insurance. Collision insurance covers repairs to your car when you hit another car or object. If the damage to your vehicle was caused by something other than a collision—like a natural disaster, vandalism, falling objects, or animals—it is most likely covered by comprehensive insurance. You might also have to get gap insurance, which covers the difference between what you owe on your loan and what the vehicle is worth at the time of a total loss.
Car insurance in Colorado costs $60 monthly ($725 per year) for minimum coverage, on average, and around $175 per month ($2,101 annually) for a full-coverage policy. The cheapest insurance companies in Colorado are American National, Geico, and USAA, but insurers calculate premiums differently, so it’s a good idea to get quotes from more companies to find the best deal.… read full answer
Average Cost of Car Insurance in Colorado by Category
Clean driving record: $60 per month
After an at-fault accident: $87 per month
Driver with poor credit: $103 per month
Teen driver: $234 per month
After a DUI: $116 per month
The average cost of car insurance in Colorado is the same as the national average auto insurance premium, and Colorado ranks 31 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you’ll pay for car insurance in Colorado, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.
Finally, it’s worth noting that car insurance premiums in Colorado are high, compared to the cost of coverage in neighboring states like Nebraska and Wyoming. You can find more details in the table below.
Cost of Car Insurance in Colorado vs. Neighboring States
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.