What Drove the Increase in Colorado Auto Insurance Premiums in 2017

On average, Colorado drivers saw auto premiums increase in 2017 by as much as 15% and while your own personal driving record has a lot to do with your rates, the statewide trend is attributable to factors[1] beyond your control (unless you plan to move out of state any time soon).

Repair Costs

Bumpers of a decade ago were much cheaper to repair than bumpers of today’s cars, which often have back up cameras: the difference amounts to thousands of dollars and the bumper of your car is the most likely part to be damaged in a collision.

Booming Population

Colorado is a popular place to live and more people move here every day.  More people on the road means more automobile collisions (and consequently, more insurance claims).

Traffic Fatalities

Unfortunately, CDOT data shows that crashes resulting in death are on the rise in Colorado.  This is, at least in part, attributable to the rise in Colorado’s population.

Hail Damage

If you’ve lived through a summer in Colorado, you won’t be surprised to learn that we rank second in the nation for hail damage claims.  Hail storms in our state are so frequent and severe that they can total hundreds of vehicles in one fell swoop.   

While many factors determining your auto insurance rates are beyond your control, you can keep your premiums down by obeying traffic laws, maintaining good credit, and shopping around on both cars and coverage.  Check out this post about how to shop smart for car insurance:  http://coloradosprings-injuryattorney.com/?p=782.  If you are hurt in a crash caused by someone else, contact the Colorado Springs Injury Attorneys at Rosenbaum & Wootton, P.C. to help you best utilize all insurance coverages available for your loss.  Call us at 719.634.0102 or click on this link to schedule your FREE INITIAL CONSULTATION.    

[1] Reasons for increase in premiums given by Carole Walker of Rocky Mountain Insurance Information Association (an insurance communications organization that represents Property and Casualty Insurers in Colorado and surrounding states).


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