A suspended license due to a DUI or other driving violations can be a major headache. To get your license reinstated in Colorado, you’ll likely need to file for an SR-22 certificate. This document proves to the state that you carry the minimum required car insurance coverage. But SR-22 insurance can be expensive, especially compared to regular car insurance. In this article, Cheap Insurance will explore various strategies to reduce the cost of inexpensive SR-22 insurance in Colorado.
SR-22 Insurance Costs in Colorado
While an SR-22 itself isn’t insurance, it signifies to your insurer that you’re a high-risk driver. This translates to higher auto insurance premiums because statistically, high-risk drivers are more likely to file insurance claims.
Key Takeaways:
- SR-22 insurance is necessary for certain violations in Colorado but can be costly compared to regular car insurance.
- Factors like violation severity, driving history, age, location, and chosen insurer impact SR-22 rates.
- Discounts such as good drivers and multiple policies can reduce SR-22 costs.
- Shopping around is crucial to find affordable SR-22 insurance coverage.
- Maintaining a clean driving record and safe driving habits can lower SR-22 renewal rates and help remove the requirement once the filing period ends.
How Much More Does SR-22 Insurance Cost in Colorado?
On average, SR-22 insurance in Colorado can cost anywhere from $674 to over $1,000 per year, depending on your specific situation. Regular car insurance in Colorado averages around $606 annually.
What Factors Affect SR-22 Insurance Rates in Colorado?
Several factors influence your SR-22 insurance rates in Colorado:
- The severity of your violation: A DUI will typically result in a higher auto insurance premium increase than a speeding ticket.
- Your driving history: Previous accidents, tickets, or suspensions will further elevate your rates.
- Your age: Young drivers typically pay more for car insurance, and this applies to SR-22 coverage as well.
- Your location: Insurance rates vary by zip code, with urban areas often costing more.
- Your chosen car insurance company: Different car insurance companies have varying risk assessment models, leading to different car insurance quotes.
Can I Get Discounts on SR-22 Insurance in Colorado?
Many insurance companies offer discounts that can apply to SR-22 policies. Here are some common ones:
- Good Driver Discount: Maintaining a clean driving record for a set period (typically 3-5 years) can qualify you for this discount.
- Multiple Policy Discount: Bundling your SR-22 coverage with other insurance policies like homeowners insurance or renters insurance can lead to savings.
- Low Mileage Discount: If you drive fewer miles annually, you might be eligible for an SR-22 discount.
- Defensive Driving Courses: Completing approved defensive driving courses can demonstrate your commitment to safe driving and potentially lower your rates.
Is Shopping Around for SR-22 Insurance Essential in Colorado?
Absolutely! Since different insurance companies assess risk differently, comparing SR-22 auto insurance quotes is crucial. Don’t just settle for the first offer you receive.
Are There Colorado Insurance Companies Known for Inexpensive SR-22 Coverage?
While it’s difficult to pinpoint a single cheapest SR22 insurance company, some insurers in Colorado are known for being competitive with SR-22 coverage, including:
- American National
- Southern Farm Bureau
- Geico
- USAA (for military members and their families)
- Grange Insurance
Remember, getting SR22 quotes from multiple companies is the best way to find the best affordable SR22 option.
How Long Will I Need SR-22 Insurance in Colorado?
The length of your SR-22 requirement depends on the severity of your violation. In Colorado, the SR-22 filing period typically ranges from 1 to 3 years.
What Can I Do to Get My SR-22 Requirement Removed in Colorado?
Once your SR-22 filing period is complete, you can contact your insurance company to request they stop filing the SR-22 with the state. The key to getting your SR-22 requirement lifted is maintaining a clean driving record during the filing period.
Are There Any Government Assistance Programs for SR-22 Insurance in Colorado?
Unfortunately, Colorado doesn’t currently offer any government assistance programs specifically for SR-22 insurance. However, some insurance companies might provide low-cost coverage options for low-income drivers. Here are some resources to explore:
- Colorado Division of Insurance: https://doi.colorado.gov/ This website provides information on car insurance regulations in Colorado and might list resources for low-income drivers.
- National Association of Insurance Commissioners (NAIC): https://content.naic.org/ This national organization offers consumer resources related to car insurance, including information on potential assistance programs in your state.
Remember
By shopping around and utilizing the resources available, you can find the best affordable SR-22 insurance in Colorado. Comparing SR-22 insurance quotes can help you make an informed choice.
