DENVER — Colorado drivers are paying more to keep their cars insured.
New data from the National Association of Insurance Commissioners shows the average full-coverage premium in the state climbed more than 36% over four years.
“Right now, I’m paying about $200 a month, which is a significant increase over the past two years. I was paying around $120 to $130 about two years ago,” Denver resident Alison Miller said.
The average full coverage premium in Colorado rose from more than $1,300 in 2021 to more than $1,800 in 2024, a $488 dollar increase over a four-year period.
“Whether we're talking about hail damage claims, the increased cost to repair a car, the increased medical costs and also the increasing number of uninsured drivers in Colorado,” McDivitt Law Firm CEO and attorney David McDivitt said.
For drivers on the road without insurance, local injury attorney David McDivitt said that can create a cycle where drivers who do have insurance end up paying more.
“Those of us who are doing the right thing by paying for car insurance are paying higher rates because there are an increasingly larger number of people choosing not to insure themselves but still getting behind the wheel and driving on our roads — that will drive up insurance rates as well,” McDivitt said.
“I’m surprised to hear there’s so many uninsured drivers out there,” Miller told Denver7.
McDivitt said even a minor crash can come with a bigger repair bill.
“If you have a damaged bumper, it's not just a matter of replacing the bumper. It oftentimes involves replacing the sensors that go along with it. A lot of electronic components and cameras,” he added.
And when insurance companies pay more for claims, those costs can filter down to drivers.
“Any number of different things that can increase the cost to repair a vehicle will then in turn be used by the insurance industry to raise the rates,” McDivitt said.
McDivitt recommends shopping around, comparing policies and asking about uninsured motorist coverage.
“It's so important that you don't just get the basic policy, but that you also add on additional coverage that protects you if you are hit by somebody who is uninsured or underinsured,” McDivitt added.
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