COLORADO AUTO INSURANCE DOWN 15%-27% SINCE NO-FAULT ENDED.
Colorado insurance rates have gone down 15 to 27 per cent since the state switched in July to a tort-based automobile insurance system after having a no-fault system for the past 30 years, an insurance study has found.
The average annual premium for a full policy, which includes required liability coverages as well as optional uninsured motorists, comprehensive and collision coverages, has dropped about 15 per cent, from $1,018 to $869, the study found.
The average premium for a liability-only policy has dropped 27 per cent, from $691 to $503, the study found.
Colorado motorists had been paying the 10th highest rates in the nation for automobile insurance.
The study was conducted by the National Association of Independent Insurers, the Rocky Mountain Insurance Information Association and 13 insurance companies that write two-thirds of the personal automobile insurance in the state.
