2022 Chevrolet Colorado Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Apr 25, 2024

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Did a good deal turn into overpriced insurance coverage? You’re preaching to the choir because you are not the only one feeling buyer’s remorse. With consumers having so many choices of insurance companies, it is hard for the average consumer to locate the cheapest insurer.

You should make it a habit to price shop coverage every six months because insurance coverage rates change frequently. Just because you had the best deal on Colorado insurance last year there is a good chance you can find better prices now. Ignore everything you know about insurance coverage because you’re about to learn the things you must know in order to reduce your cost while increasing coverage.

Use discounts on insurance

Insurance can be prohibitively expensive, but you may be missing some discounts that can drop the cost substantially. Certain reductions will be credited at the time of quoting, but some discounts are required to be specifically requested prior to getting the savings. If you are not receiving all the discounts you qualify for, it’s possible you qualify for a lower rate.

  • Safety Restraint Discount – Drivers who require all occupants to use their safety belts could save 15% off the medical payments premium.
  • 55 and Retired – Older drivers could receive a small discount on rates on Colorado insurance.
  • Air Bag Discount – Cars that have air bags or automatic seat belts may get savings of more than 20%.
  • Discount for Home Ownership – Being a homeowner can help you save on insurance because of the fact that having a home shows financial diligence.
  • Membership in Organizations – Participating in a professional or civic organization could trigger savings on your bill.
  • Student Discount for Driver Training – Require your teen driver to participate in a local driver’s education class in school or through a local driver safety program.
  • E-sign – A few companies will discount your bill up to fifty bucks just for signing your application on their website.
  • Defensive Driver Discount – Participating in a course in defensive driving could cut 5% off your bill and easily recoup the cost of the course.
  • Government Employee Discount – Active or retired federal employment can save as much as 8% on Colorado insurance with a few insurance companies.
  • Service Members Pay Less – Having an actively deployed family member can result in better rates.

A quick disclaimer, some of the credits will not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as comprehensive or collision. Just because it seems like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.

Larger insurance companies and their offered discounts include:

  • Farm Bureau policyholders can earn discounts including multi-vehicle, multi-policy, driver training, youthful driver, good student, renewal discount, and safe driver.
  • Liberty Mutual offers discounts for new move discount, new graduate, multi-policy, exclusive group savings, and safety features.
  • State Farm has savings for driver’s education, multiple autos, Steer Clear safe driver discount, anti-theft, and accident-free.
  • Auto-Owners Insurance has discounts for multiple vehicles, paid in full, group or association, mature driver, company car, good student, and teen driver.
  • GEICO discounts include multi-vehicle, five-year accident-free, membership and employees, emergency military deployment, anti-theft, driver training, and anti-lock brakes.
  • SAFECO includes discounts for multi-car, homeowner, safe driver, anti-lock brakes, drive less, bundle discounts, and anti-theft.

When comparing rates, check with every company the best way to save money. Some of the discounts discussed earlier might not apply everywhere. If you would like to choose from a list of insurance companies that can offer you the previously mentioned discounts, enter your zip code here.

The quickest method we recommend to get policy rate comparisons is to understand most insurance companies have advanced systems to compare their rates. The only thing you need to do is give them rating details such as the ages of drivers, whether your vehicle is owned or leased, how your vehicles are used, and level of coverage desired. Your details is instantly sent to multiple companies and you will get price comparisons with very little delay.

To start a rate quote now, click here and enter your zip code.

Tailor your insurance coverage to you

When buying proper insurance coverage, there isn’t really a perfect coverage plan. Everyone’s situation is a little different so this has to be addressed. For instance, these questions can aid in determining whether your personal situation could use an agent’s help.

  • Do I need rental car coverage?
  • Am I covered when driving someone else’s vehicle?
  • What can I do if my company denied a claim?
  • Is there coverage for injuries to my pets?
  • When can I cancel my policy?
  • How much underlying liability do I need for an umbrella policy?
  • Do I need more liability coverage?
  • Do I have coverage when using my vehicle for my home business?

If you can’t answer these questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and enter your zip code. It’s fast, free and can provide invaluable advice.

Coverages available on your car insurance policy

Having a good grasp of your car insurance policy aids in choosing the right coverages and proper limits and deductibles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Below you’ll find the normal coverages found on the average car insurance policy.

Comprehensive coverage

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like falling objects, hitting a bird, theft and a broken windshield. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Auto liability

This coverage can cover injuries or damage you cause to other’s property or people in an accident. This insurance protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and $100,000 of coverage for damaged property. Another option is a combined limit which limits claims to one amount without having the split limit caps.

Liability insurance covers things like court costs, bail bonds and structural damage. How much liability should you purchase? That is up to you, but you should buy as large an amount as possible.

Collision protection

Collision insurance pays for damage to your Colorado from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like driving through your garage door, rolling your car and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to bring the cost down.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for immediate expenses for things like EMT expenses, funeral costs and rehabilitation expenses. They are utilized in addition to your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family and also any damage incurred to your Chevy Colorado.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Most of the time the UM/UIM limits are similar to your liability insurance amounts.

Affordable insurance is out there

We’ve covered many tips how you can lower your 2022 Chevy Colorado insurance premium rates. The most important thing to understand is the more providers you compare, the better likelihood of getting the cheapest insurance coverage. Consumers may even find the best premium rates are with a smaller regional carrier. Some small companies can often provide lower prices in certain areas than the large multi-state companies such as State Farm or Progressive.

As you go through the steps to switch your coverage, it’s a bad idea to reduce needed coverages to save money. Too many times, someone dropped physical damage coverage only to discover later that they should have had better coverage. Your strategy should be to purchase plenty of coverage for the lowest cost but still have enough coverage for asset protection.

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