In Colorado, the cheapest SR-22 insurance is offered by National American, with an average monthly rate of $114, which is $1,374 per month or 56% cheaper than the statewide average of $3,092.
Prior to obtaining coverage, it is advisable to diversify significantly based on the particular company, thereby enabling the potential for affordable SR-22 insurance in Colorado through both State Farm and Colorado Farm Bureau.
Compare prices and purchase affordable auto insurance today.
We do not share your information with third parties.
|
Company |
Average monthly cost of SR-22 insurance |
Average yearly cost of SR-22 insurance |
|---|---|---|
|
American National |
$114 |
$1,374 |
|
State Farm |
$115 |
$1,384 |
|
Colorado Farm Bureau |
$155 |
$1,854 |
|
GEICO |
$177 |
$2,127 |
|
USAA |
$214 |
$2,572 |
|
Progressive |
$229 |
$2,746 |
|
Allstate |
$232 |
$2,787 |
|
American Family |
$236 |
$2,833 |
By computing the mean rate for motorists with a revoked license, driving under the influence (DUI), or a citation for reckless driving, we discovered the insurance companies offering affordable SR-22 coverage in Colorado.
Our sample consisted of a 30-year-old male driver with an average credit score, who had a policy with LE Camry Toyota 2017.
Personal physical harm liability: $50,000 per individual, $100,000 per incident.
Liability for property damage: $50,000 per incident.
Motorists without insurance or with insufficient insurance coverage: $50,000 per individual, $100,000 per collision.
All-inclusive: $500 excess.
Accident: $500 deductible.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of insurance costs. Your actual quotes may differ.
What is SR-22 insurance in Colorado?
[1] If you receive a serious driving violation such as a DUI or have your license suspended, you are typically required to have an SR-22. An SR-22 is not actually an insurance coverage form filed by your insurance company, but rather a type of coverage that is required instead.
In Colorado, your SR-22 must demonstrate that you possess a minimum of:
Bodily harm responsibility (BIL): $25,000 for each individual, $50,000 for each incident.
Property damage liability (PDL): $15,000.
If your violation depends on the length of time you may have your license suspended, typically for three years, Colorado drivers usually need SR-22 insurance to keep coverage for your whole time. You may face more fines and your license may be suspended again.
How to get SR-22 insurance in Colorado
Acquiring SR-22 may not be impossible, but it may necessitate a specific duration of time. To obtain SR-22 coverage, it is recommended to:
It could mean that coverage may take longer to find for certain individuals. Your current car insurance company may not be able to add an SR-22 to your policy, and not every insurance company in Colorado offers SR-22 insurance. Additionally, your current car insurance company may not be able to add an SR-22, and not every insurance company in Colorado offers SR-22 insurance. Furthermore, your current car insurance company may not be able to add an SR-22, and not every insurance company in Colorado offers SR-22 insurance.
In order to handle your SR-22, if you want to avoid missing a deadline, do not delay in obtaining coverage, although the process should not be excessively time-consuming.
Once you have proof of insurance, you can receive a letter of clearance and start driving. Depending on why you had to get an SR-22, you may need to send money or a check to Colorado’s DMV for extra fees. In order to reinstate your license, you will need to pay the required fees.
Colorado suggests that you contact the DMV in your state to inquire about the process of reinstating your license. They advise that you should do this at least 20 business days after your license status has been updated, and they emphasize the importance of not contacting the DMV in your state until then.
Compare prices and purchase affordable auto insurance today.
We do not share your information with third parties.
Non-owner SR-22 insurance in Colorado
If you are licensed but do not own a car, you may still need non-owner SR-22 insurance, also known as something you need to look into, if you have a serious violation or a license suspension.
Your non-owner car insurance company has the ability to submit an SR-22 on your behalf, similar to regular car insurance. Non-owner insurance does not include comprehensive or collision coverage, but it offers sufficient insurance for drivers to meet the state’s requirements.
Locating insurance may prove to be more challenging, but non-owner SR-22 coverage is more cost-effective compared to a standard policy as it is a distinctive form of insurance with restricted coverage.
Frequently asked questions
If you let your policy lapse for longer than three years, you may need to have an SR-22 insurance license to avoid any violations in Colorado.
Your insurance provider has the ability to eliminate the SR-22 from your coverage. The Colorado Division of Motor Vehicles. will inform you when the requirement for an SR-22 is no longer necessary.
Certain corporations provide significantly more economical rates, despite the fact that the protection can be costly. The mean expense of SR-22 insurance in Colorado amounts to $258 per month, or $3,092 annually.
In accordance with our editorial guidelines, gain a deeper understanding of our utilization and evaluation of external sources. Policygenius complements its own marketplace data and internal knowledge with external sources, such as government data, industry research, and respected news outlets.
Colorado Division of Motor Vehicles.
. “
Guide to SR-22
.” Accessed May 01, 2023.
Corrections.
No corrections have been made since the publication.
Author.
Andrew Hurst is a senior editor at Policygenius, specializing in auto insurance. His work has been featured in The New York Times, The Wall Street Journal, USA Today, Forbes, NPR, Mic, Business Insurance Magazine, 360 Casualty Property, and ValuePenguin.
Editor.
Anna Swartz.
Senior Managing Editor. & Auto Insurance Expert
Anna Swartz. is a senior managing editor and auto insurance expert at Policygenius, where she oversees our car insurance coverage. Previously, she was a senior staff writer at Mic.com, as well as an associate writer at The Dodo.
Do you have any inquiries about this page? Feel free to contact us via email at editorial@policygenius.Com.