In 2019, the most recent year with available data, car accidents were a leading cause of death in Colorado, according to the high risk driver if you are found at fault for causing a motor car accident or engaging in aggressive driving behavior.
A high-risk driver is one who has been convicted of causing an accident, had at least one speeding ticket, received a DUI conviction or had insurance coverage lapse. High-risk drivers may have a harder time finding affordable car coverage after such events. Understanding the average Colorado premiums for high-risk drivers can help you make informed decisions when selecting an insurance provider.
Colorado rates for high-risk auto insurance
Traffic violations can cause insurance premiums to rise. The type of traffic violation, the insurance provider and the number of violations that you have on your record will all affect the amount of the premium hike. Your premium will also be affected by factors such as your age, your car type and the coverages you have.
Rates for speeding tickets
Speeding is a 27%” of all traffic deaths in 2019. Driving under the influence can lead to serious consequences. Drivers will see a substantial increase in their premiums. They may also have to produce proof of SR-22 certification. This document is filed by insurance companies for high-risk drivers and certifies to DMV that they have the minimum required car insurance coverage.
You could also face fines, jail time, license suspension, or revocation after a DUI. The table below shows that insurance rates can rise after a DUI in Colorado.
| Car insurance company | Colorado average annual premium for full coverage before a DUI | Colorado’s average annual premium after a DUI for full coverage | % Difference |
|---|---|---|---|
| Geico | $1,106 | $3,227 | 192% |
| Acuity | $1,872 | $3,187 | 70% |
| Grange | $2,010 | $2,465 | 23% |
After a DUI conviction, some companies might not offer to renew your auto insurance policy. This means that you may need to find car insurance with another company.
Rates for teenage drivers
Inexperienced driver was the main cause of 18% of Colorado’s auto accidents between 2005-2019. The Centers for Disease Control (CDC) states that drivers aged 16-19 are at the greatest risk for motor vehicle crashes, compared to other age groups. Teenagers will pay more for car insurance than adults. Below is a table that shows the average premiums of adding a 16 year-old driver to a policy.
| Car insurance company | For full coverage, the average annual premium |
|---|---|
| All over the country | $1,211 |
| American Family | $2,779 |
| Progressive | $4,931 |
16-year-old under their parent’s policy
These premiums are not the total policy premium, but the difference for adding the teenager. Rates will decrease as your teen driver reaches adulthood.
Who are high-risk drivers?
According to Bankrate, a high-risk driver is one who has at most one of these traffic violations:
- At-fault accident
- Speeding ticket
- Conviction for DUI
- Coverage gaps
This is not the standard insurance carrier definition when determining your rates. The Department of Motor Vehicles defines a high-risk driver as a driver with a greater likelihood of filing an insurance claim than the average driver. If you are:
- You were convicted of DUI.
- You were issued a speeding ticket.
- You were involved with illegal street racing.
- You were caught driving without a permit.
- You drive recklessly.
- You are responsible for a serious or fatal accident.
- You are a teenager.
- Your driving record is poor.
- You are the owner of a high-risk vehicle such as an exotic or collectible car.
- There has been a lapse of insurance coverage.
- Are you 70 years or older?
Knowing if you are a high-risk driver can help you identify savings opportunities.
How to lower your rate for high-risk drivers
High-risk drivers pay more for insurance than those with clean records. However, there are ways to lower your insurance costs. These tips can help high-risk Colorado drivers lower their car insurance premiums.
- Compare rates: Each insurance provider has different rates. It is worth shopping around to get the coverage that you require at the best price.
- Increase your credit score. Your insurance provider might review your credit rating in order to determine your risk profile. Your perceived risk to insurance companies could be reduced by improving your credit score.
- Your deductible can be increased: This is a simple way to lower your premium. Your premium will drop the more you can afford to pay out-of-pocket when you file a claim. If you file a claim, make sure you choose a deductible that you can afford.
- Discounts: There are many insurance companies that offer discounts that could make a big difference in your insurance costs. Ask your insurance provider about the discounts they offer and whether you may be eligible.
High-risk drivers can reduce their car insurance rates by improving their driving habits. You will not be charged for tickets, DUIs or accidents for more than three to five years. You may see a drop in your premiums if you avoid any additional violations.
Questions frequently asked
Which is the best company to insure high-risk drivers with car insurance?
Each driver’s individual situation will determine the best high-risk car insurance company. Insurance costs are affected by factors such as your driving record, traffic violations, accidents, age, gender, ZIP code, and the type of car you drive. To find the best coverage, you might want to compare quotes from different insurance companies.
What is the average time it takes for high-risk drivers to see their insurance rates drop?
It all depends on what type of traffic violation was committed and which rules your insurance company has. Most incidents are removed from your risk portfolio after three to five year. Your agent will be able to tell you how long it takes for your company to charge you for a ticket or accident under your policy.
Why are high-risk drivers paying more for car insurance
Insurance premiums are partly determined by risk. Insurance companies consider it statistically more likely you will continue driving as if you have an accident, ticket or DUI. Your policy will be charged accordingly to compensate for the higher risk.
