SR-22 insurance in Colorado: Quotes, rankings and information
Colorado SR-22 requirements
SR-22 insurance is a special type of insurance that high-risk drivers (as deemed by the local court or the state) need to carry. The state of Colorado requires those drivers whose licenses have been revoked or suspended to have SR22 insurance. You may also need SR22 insurance after an accident to fulfill your Financial Responsibility Act requirement, which proves to the state of Colorado you’re able to cover damages caused by an at-fault car accident.
You’ve likely heard the term SR-22 insurance if you’re required to file an SR22 in Colorado. While SR-22 insurance is not actually a different type of insurance from typical car insurance, the term is often used to describe car insurance coverage for those who need an SR-22 endorsement because an SR22 affects your car insurance coverage and cost. In Colorado, SR-22 insurance after a DUI conviction costs an average of 40 percent more than car insurance for standard drivers.
If your Colorado license has been revoked, you’ll have to get SR22 insurance before you can have your license reinstated. Generally, SR-22 insurance is required for about three years. Your Colorado SR22 insurance filing period may vary based on the reason you need SR-22 insurance and your unique circumstances.
It’s also important that you pay your car insurance premium on time and maintain your Colorado SR-22 insurance. If your coverage lapses or is canceled, the insurance company will notify the DMV. This will result in your license being suspended and you’ll have to pay additional fees to have it reinstated. The Colorado DMV comes down heavily on drivers who fail to keep their SR-22 policy current and may suspend your license until the policy is renewed.
If you abide by the Colorado DMV’s guidelines for the length of your required SR22 filing period and keep a clean driving record, the authorities may reinstate your driver’s license and you’ll no longer need SR-22 insurance. Additionally, your car insurance rates may go down.
SR-22 insurance limits in Colorado
If you’re required to have SR-22 insurance in Colorado, you’ll be required to have at least the following coverage:
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $15,000 property damage per accident
Failure to have this minimum insurance coverage in Colorado may result in a loss of your driving privileges.
Who needs SR-22 insurance in Colorado?
In Colorado, you may be required to have SR22 insurance in two cases: if you’ve been in an accident and have to fulfill a Financial Responsibility requirement or if your license has been suspended or revoked. There are a number of reasons your license could be suspended including:
- Conviction for driving under the influence (DUI or DWI)
- Driving without car insurance
- Driving with a revoked or suspended license
- Having repeated traffic violations in a certain amount of time, including speeding tickets
- Numerous at-fault accidents
- A fatal at-fault accident or one that results in injuries
- Reckless or dangerous driving
- Assignment from a court order
- Failure to pay fines from tickets
- Refused consent to breathalyzer or blood alcohol test
In Colorado, you’ll be unable to get your license reinstated until you fulfill your SR-22 insurance requirement assigned by the government.
Colorado SR-22 insurance rates
Filing an SR-22 doesn’t cost much; however, having an SR-22 on their driving record can hurt your pocket indirectly. When you’re required to have an SR22, you get placed into the category of a high-risk or non-standard driver. High-risk drivers tend to pay the highest car insurance rates, but the cost of car insurance can vary by company and by state. Some other factors that the insurance company will consider when deciding your premium are the driver’s age, location, gender and credit score.
One of the most common reasons drivers need SR-22 insurance is because of a DUI conviction. On average, drivers with one DUI conviction in Colorado pay $1,752 per year for car insurance. That’s 40 percent more than car insurance for a driver with a clean driving record. However, the cost you pay differs significantly based on the company you buy car insurance from. In the table below, you can find average rates for Colorado drivers who have one DUI conviction from some of the largest companies in the state.
|Company||Car insurance rate|
*USAA is only available to active and former military members and their families.
These rates are based on a 35-year-old single adult with one driver and one vehicle on a policy. The car used was a 2015 Toyota Highlander LEs. Full coverage was used with 100/300/50 limits and a $500 collision and comprehensive deductible. The driver had 1 DUI on their record. The rates displayed should only be used for comparative purposes as individual rates for high-risk insurance in Colorado will differ. Rate data is provided by Quadrant Information Services.
While Colorado SR22 insurance rates are high, if you abide by DMV regulations and pay your premium on time, your insurance rates may gradually go down.
How to get SR-22 insurance in Colorado?
To get SR22 insurance, you’ll need to contact your car insurance company. An SR-22 can only be obtained through an insurance carrier; you can’t file it on your own. If your auto insurance company offers insurance coverage to drivers who need an SR-22, your company can file the form with your state and offer you car insurance coverage. If not, you’ll need to shop for a new insurance policy from a company that offers SR22 insurance coverage.
It’s important to note here that not all insurers offer SR-22 insurance in Colorado. In case your insurer does not offer SR22 insurance, you may have to look for a new policy. Even if your insurance company offers SR-22, you may want to shop around because rates may vary by company.
Use the table at the top of this page to find all the car insurance companies that offer SR-22 insurance in Colorado with a minimum of 25 reviews. If you want to see which companies customers say are the best car insurance companies for SR22 insurance in Colorado, sort the table by highest rated. You can sort through companies and find the ones you want to get quotes from. To get quotes, click on the orange “Click for quote” button next to the company, call the number available, or visit the company’s website.
If you want to read customer reviews of the company, click the company name in the table and you will be directed to the company’s profile page containing information about the company and reviews.
SR-22 fees in Colorado
Colorado drivers who need SR22 insurance will likely need to pay a one-time filing fee that usually varies from $15 to $35. The actual amount can vary based on the reason why the license was revoked.
There are many other fees required based on what your reason for needing SR-22 insurance is. If you’ve been convicted of a DUI, there are many fees associated with it including a reinstatement fee to get your license back. There are also a lot of additional DUI requirements in Colorado, including the potential of needing a restricted license, taking an alcohol course and attending hearings. Those requirements may also have additional costs.
How car insurance rates are calculated
When searching and comparing car insurance quotes, it can be frustrating trying to understand how your insurance rates are calculated. While there is no exact formula that each car insurance company uses when providing you a quote, there are many factors that do contribute to the price you pay for your insurance. Among the factors that car insurers consider are:
- Your driving record
- How much you drive
- Marital status
- Your car’s make, model and year
- Your credit history (in some states)
- Amount of car insurance coverage (required coverage and optional add-ons, such as collision and comprehensive)
One of the biggest misunderstanding when it comes to insurance rates is that the history of drivers in your area also contributes to how much you pay. For instance, even if you go two years without an accident, if there were a lot of accidents near you recently, your rates might still go up. Why is that the case?
Insurance companies disperse risk across all policyholders so that when it comes time to pay a claim, they have enough money to pay out. But imagine a scenario where they only raised rates for drivers with an accident. For drivers who had an expensive claim, the drivers simply wouldn't be able to afford the raised rates that are based off how much their insurer had to pay after an accident. So instead, insurance companies slightly increase rates across the board to offset the costs, though of course the at-fault driver may see a larger increase.
How much car insurance do I need?
You certainly don’t want to be underinsured or uninsured while staring at a claim after a car accident or other damage to your car. But at the same time, there’s no sense in paying for more coverage than you need, right? So it begs the question: How much car insurance coverage do you actually need?
The answer, as frustrating as it may be, is it depends. For example, someone insuring a brand-new, leased car is likely required to purchase collision and comprehensive coverage, but for someone driving an older car that doesn’t have much value, it may not make sense to purchase optional coverage. Plus, states have different car insurance requirements. There are 12 no-fault states that require its drivers to purchase personal injury protection (PIP).
So when it comes to determining what car insurance coverage and limits you should purchase, it’s important to do your research. Talk with an insurance agent or your insurance company to determine what makes the most sense for your situation.
How to save money on your car insurance
At the end of the day, we’d all like to have the best coverage at a cheap, affordable price. While you never want to sacrifice quality to save a couple of dollars, there are some different ways you can lower your car insurance premium.
Here are six ways you may be able to lower your car insurance rates:
- Bundle your car insurance with other policies
- Consider raising your deductibles
- Pay your car insurance policy in full
- Try usage-based car insurance
- Monitor price changes to your policy
- Shop for better insurance rates
How we rank car insurance companies
Wondering how Clearsurance determines scores for insurance companies? Our algorithm analyzes a range of inputs from our community of unbiased insurance customers, including:
- Customer Service
- Overall Experience
- Claim service
- Purchasing experience
- Likelihood to recommend
Guide to understanding car insurance
Whether you’re buying your insurance direct or going through an agent, understanding the different car insurance coverage options is a must. Do you know what is covered by comprehensive coverage? Are you familiar with uninsured motorist coverage? Do you know how a deductible works?
We want to make sure you’re equipped with a proper knowledge of car insurance, so check out our practical guide to understanding car insurance. Looking for more educational information about car insurance? Check out our blog for more information and topics related to car insurance.