In Colorado, American National is the most affordable for SR-22 car insurance at about $353 per year for minimum coverage and $806 for full coverage.
State Farm is the second cheapest, averaging $435 annually for minimum coverage and $992 for full coverage.
For non-owner SR-22 insurance, GEICO is the cheapest at around $457 per year. State Farm is also a good option, costing approximately $483 per year.
An SR-22 is a required document certifying minimum car insurance coverage after certain violations. Despite generally higher costs, affordable options exist in Colorado through careful comparison.
Top Affordable Options for SR-22 Car Insurance in Colorado
- American National Insurance Company Most Economical Choice for SR-22 – American National Insurance Company
- GEICO Best for Non-Owner SR-22 – GEICO
Explore Average Costs of SR-22 and Understand Its Impact on Rates and Other Consequences.
Most Affordable Options for SR-22 Auto Insurance in Colorado
| Coverage Type | Company | Annual Premium |
|---|---|---|
| Minimum Coverage | American National | $353 |
| State Farm | $435 | |
| Full Coverage | American National | $806 |
| State Farm | $992 |
When facing a DUI, insurers may categorize you as high-risk, resulting in increased premiums.
Nonetheless, by comparing quotes, you can discover affordable SR-22 car insurance options in Colorado. \
The table outlines costs ranging from $353 to $1,261 per year for individuals aged 30-59 seeking minimum coverage after a DUI.
What Is SR-22 in Colorado?
If you engage in specific traffic infractions in Colorado, you may be obliged to have your insurance company submit an SR-22.
This document isn’t a type of insurance but a mandated proof of financial responsibility. Instances that commonly necessitate an SR-22 include:
- Driving under the influence (DUI) or serious driving offenses such as reckless driving.
- Operating a vehicle without insurance.
- Accumulating multiple moving violations within a brief timeframe.
- Restoring a suspended or revoked license.
In Colorado, maintaining an SR-22 on record is mandatory for three years.
Your auto insurance provider is responsible for completing the SR-22 form and submitting it to the Colorado DMV.
Expect a substantial increase in your car insurance premium as you will be classified as a high-risk driver
Cheapest Non-Owner SR-22 Car Insurance Companies in Colorado
According to MoneyGeek’s findings, the least expensive non-owner SR-22 car insurance providers for minimum coverage in Colorado, on average, are:
- GEICO: $457 per year
- State Farm: $483 per year
For members of the military community, USAA is a more economical choice at approximately $421 per year.
In specific scenarios, individuals without a vehicle may still need to submit an SR-22 form.
Non-owner car insurance becomes necessary when your vehicle is unavailable or has been declared a total loss, or if you need to reinstate your driver’s license.
Acquiring non-owner car insurance allows you to restore your license and uphold legal driving privileges.
The following table displays the least expensive non-owner SR-22 car insurance providers in Colorado, offering minimum coverage policies ranging from $457 to $1,090 per year.
| Company | Annual Premium | Monthly Premium |
|---|---|---|
| GEICO | $457 | $38 |
| State Farm | $483 | $40 |
| Auto-Owners Insurance Co | $536 | $45 |
| Kemper | $549 | $46 |
| Progressive | $998 | $83 |
| Nationwide | $1,046 | $87 |
| Farmers | $1,090 | $91 |
What does non-owner auto insurance cover?
Non-owner car insurance offers protection for injuries and property damage to third parties, excluding coverage for damages to the vehicle you’re driving or injuries sustained by you or your passengers.
This type of insurance proves advantageous for individuals such as renters, rideshare drivers, professional drivers, and those filing an SR-22 who do not own a car.
Typical Expense of SR-22 Auto Insurance in Colorado
Motorists in Colorado who have a DUI history can anticipate an average yearly cost of $755 for minimum coverage and $1,660 for comprehensive coverage auto insurance.
It’s worth noting that accumulating multiple violations on your driving record within a specific period may also necessitate filing for an SR-22.
Engaging in driving infractions commonly leads to elevated car insurance costs, as insurers categorize you as a higher-risk driver.
Upholding a clean driving record and adopting safe driving behaviors are crucial to prevent unwarranted hikes in your auto insurance premiums.
Impact of SR-22 on Auto Insurance Rates in Colorado
In Colorado, drivers compelled to file an SR-22 should anticipate an average premium hike of $312 for a minimum coverage policy.
The act of filing this form signals an increased risk profile, resulting in elevated insurance rates.
However, the quoted rate is subject to variation based on factors such as the gravity of the offense, chosen coverage level, and personal driving history.
Offenses like driving without adequate insurance, license suspension due to unpaid court-ordered child support, and driving under the influence (DUI) are common reasons mandating SR-22 filing.
Awareness of these factors and their influence on insurance rates empowers individuals to make informed decisions and uphold responsible driving practices.
Comparison of Car Insurance Rates Based on Driving Records in Colorado
Clean Driving Record
- Annual Premium for Minimum Coverage: $443
After a DUI
- Annual Premium for Minimum Coverage: $755
Following a DUI, car insurance premiums typically increase by an average of $312, representing a 70% rise in cost.
Additional Impacts of SR-22 on Auto Insurance in Colorado
Beyond the heightened premiums, filing an SR-22 in Colorado can result in various other effects on your car insurance. Here are some potential consequences associated with SR-22 filing:
Limited Insurance Options:
Having an SR-22 on record often leads insurance companies to categorize you as a high-risk driver.
Consequently, you might discover fewer insurers willing to provide coverage compared to drivers without high-risk incidents.
Seeking coverage through a non-standard insurer specializing in high-risk drivers or the state-backed Colorado Auto Insurance Plan may be necessary.
Potential Policy Cancellation:
Violations requiring an SR-22 form may prompt your current insurer to consider canceling the remaining duration of your policy. Being aware of this potential outcome is crucial, prompting you to secure alternative insurance to maintain continuous coverage.
Duration of Required Filing:
In Colorado, the mandated SR-22 filing period spans three years. Adhering to this required duration is essential to preserve your legal driving privileges.
Filing Fees:
An additional consideration is the potential one-time filing fee for an SR-22, ranging from $15 to $50.
Factoring in this fee is important when evaluating the overall financial implications of your SR-22 requirements.
Securing SR-22 Insurance in Colorado
To acquire car insurance following a driving violation in Colorado, follow these steps:
- Identify an insurance provider that offers coverage for drivers with significant violations on their driving records.
- Procure a policy that satisfies Colorado’s minimum liability requirements.
- Ask your insurance company to submit an SR-22 form on your behalf.
- Settle any applicable fees linked to the SR-22 filing and ensure its continuous validity
Also read: Cheap Car Insurance Sacramento
Securing Affordable Car Insurance in Colorado Following a DUI
Obtaining insurance post a DUI conviction often entails increased expenses, and in Colorado, a DUI remains on your driving record indefinitely. Nonetheless, there are strategies to mitigate overall costs.
By comparing SR-22 car insurance quotes from various providers, sustaining a spotless driving record, and investigating potential discounts, you have the opportunity to potentially reduce your insurance premiums.
Compare Quotes Promptly:
Initiate a quote comparison for SR-22 car insurance immediately to enhance your chances of securing affordable coverage post a DUI in Colorado.
Given the variation in how insurance providers assess risk, obtaining quotes from at least three insurers in your area allows you to identify the most favorable rates.
Engage in DUI Programs:
Participate in Colorado’s DUI programs and classes following a conviction to diminish the likelihood of future offenses.
Actively involvement in these programs signals a commitment to responsible driving, potentially leading to reduced insurance rates.
Seek Discounts:
While a DUI conviction may impact certain discounts, such as those for good drivers, alternative discounts may still be available.
Insurance providers often offer discounts for bundling policies, installing anti-theft devices, and more. Exploring these possibilities can help offset the effects of a DUI on your insurance expenses.
Practice Safe Driving:
Maintain a clean driving record post a DUI by adopting safe driving habits. Consider reducing your driving distances, limiting time on the road, and staying focused while driving.
Preventing additional violations enhances your driving history, potentially qualifying you for lower insurance rates in the future.
Regularly Compare Rates:
Insurance rates are subject to change over time.
Even if you currently enjoy the best rate, consistently comparing insurance companies before policy renewal is wise.
Proactively assessing your options ensures that you secure the most fitting policy for your needs and budget.
Also read: Cheap Flood Insurance Florida
Frequently Asked Questions [FAQs]
Which insurers offer the most affordable SR-22 car insurance in Colorado?
American National stands out as the most economical choice for SR-22 auto insurance in Colorado, with average rates of $353 per year for minimum coverage and $806 per year for full coverage. For non-vehicle owners, GEICO provides the cheapest option at an average cost of $457 per year for minimum coverage.
How much does filing an SR-22 impact car insurance rates, on average?
Although the act of filing an SR-22 form itself doesn’t directly raise premiums, it is typically associated with severe violations that can substantially increase rates. For instance, in Colorado, having a DUI on your record can result in an average annual premium increase of $312.
How long is an SR-22 required in Colorado?
In Colorado, an SR-22 must be on file for three years. If your insurance coverage lapses during this mandatory three-year filing period, the process restarts, necessitating an additional three years of compliance.