Monte Vista Colorado Car Insurance
Comparing policies and quotes lets you be sure you are getting your coverage at a great price.
Written by
Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.
Reviewed by
Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
From crashes on Grand Avenue to fender benders in the parking lot at the grocery store, accidents can happen anytime, anywhere, and to anyone. That is why if you own a car in Monte Vista, you are required by Colorado state law to carry car insurance.
Independent agents are available to help you find the best and most affordable policy to meet your coverage needs. Contact an insurance agent near you to get more information and to start comparing customized car insurance quotes.
How Much Does Car Insurance Cost in Monte Vista, CO?
The average cost of car insurance in Colorado is higher than the national average. Shopping around for the best rate has the potential to save you hundreds of dollars a year.
- National average annual car insurance cost: $1,311
- Colorado average annual car insurance cost: $1,558
Car insurance costs can vary a lot between drivers. They are based on factors such as the following.
- The year, make, and model of the vehicle(s) you are insuring
- Your age, occupation, driving record, and credit score
- Information about the other licensed drivers in your household
- The amount of liability insurance you are purchasing
- The coverage options you are including in your policy
- The size of your deductible
If you are getting your car insurance from the same insurer that provides your other coverage like home insurance or renters insurance, you can frequently get significant discounts on all your bundled policies.
You may also be entitled to other discounts if you have a safe driving record or are a student with good grades.
What Does Monte Vista Car Insurance Cover?
Car insurance policies are a mixture of required and optional coverage. As a vehicle owner in Monte Vista, you are required by law to have a policy that meets or exceeds Colorado’s minimum liability coverage requirements.
You can expect your insurance company to offer the following types of coverage.
- Liability insurance (required): This can cover third-party injuries and property damage if you cause an accident. Your policy must include the following.
- Bodily-injury liability coverage of at least $25,000 per person and $50,000 per accident
- Property damage liability coverage of at least $15,000 per accident.
- Collision insurance (mostly optional): This can pay to repair or replace your vehicle if it is damaged in a collision, regardless of fault. Though optional by law, this coverage is typically required by lenders if you are financing your vehicle and by dealerships if you are leasing it.
- Comprehensive insurance (mostly optional): This can pay for non-collision related loss or damage to your vehicle, such as if it is damaged by hail. Though optional by law, this coverage is typically required by lenders if you are financing your vehicle and by dealerships if you are leasing it.
- Medical payments insurance (mostly optional): This can cover the cost of medical treatments for you and your passengers if you are injured in a collision, regardless of fault. This coverage must be offered by your insurer and can only be waived if you do so in writing.
- Uninsured motorist insurance (mostly optional): This can cover the cost of medical treatments for you and your passengers if you are injured in a collision caused by an uninsured, under-insured, or hit-and-run driver. This coverage must be offered by your insurer and can only be waived if you do so in writing.
- Roadside assistance and towing (optional): This can cover the cost of necessary assistance if your vehicle becomes disabled such as if it has a flat tire or overheats.
- Gap insurance (optional): This can bridge the gap between what you still owe for your vehicle and what it is currently worth if it is totaled in a covered event.
- Rental reimbursement coverage (optional): This can cover the cost of renting a vehicle while repairs are being made to your own car following a covered event.
Even though a minimum-coverage policy is your least expensive option, it is not always the most economical choice.
If you cause a collision and your liability limits are too low, you will be expected to make up the difference out of pocket. Also, if you only carry liability insurance, you will not have coverage for repairs to your own vehicle if the accident was your fault.
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How Can Uninsured Motorist Insurance Help Monte Vista Drivers?
Driving without insurance in Colorado is illegal. If caught, uninsured drivers can incur the following penalties.
- A Class 1 misdemeanor conviction on their record
- Fines ranging from $500 to $1,000
- The requirement to complete up to 40 hours of community service work
- Possible jail time for up to one year
Additionally, having a uninsured driving conviction on your record can result in higher car insurance rates. Despite this, more than one out of ten motorists in this state are driving around in uninsured vehicles.
- Percentage of US drivers who are uninsured: 13.0%
- Percentage of Colorado drivers who are uninsured: 13.3%
If your policy includes uninsured motorist coverage, you can rest assured that if an uninsured, underinsured, or hit-and-run driver is responsible for a collision with your vehicle, the treatment of your injuries will be covered.
This insurance enables you to receive the compensation you are due without needing to go through expensive lawyers or time-consuming lawsuits in an attempt to collect what is owed to you.
How High Is the Auto Theft Rate in Monte Vista?
The auto theft rate in Colorado is higher than the national average, but in Monte Vista, the rate is lower. In one recent year, there were nine auto thefts reported in this small municipality.
- National auto theft rate per 1,000 vehicles: 2.29
- Colorado auto theft rate per 1,000 vehicles: 3.81
- Monte Vista auto theft rate per 1,000 vehicles: 2.20
The only way you can be reimbursed following an auto theft is if your car insurance policy includes comprehensive coverage.
If you are currently leasing or financing your car, chances are good you have this coverage already. If not, you may want to ask about how much it will cost you to add comprehensive coverage to your car insurance policy.
Why Work with a Local Independent Insurance Agent?
Independent agents take the guesswork out of buying insurance. They can be a great source of information when you are looking for the best car insurance policy to meet your coverage and budgetary needs.
These experienced professionals can explain your many coverage options, answer your insurance-related questions, and help you compare prices from multiple insurance providers. That way you can choose the policy that offers you the best value for your money.
It doesn’t cost anything to talk to an independent agent. Contact an insurance agent with an office near you to start comparing customized car insurance quotes.