Cheapest SR-22 InsuranceColoradoCheapest SR-22 Car Insurance in Colorado (2023)
Compare Rates and Save on Car Insurance
By , Content Director
Updated: Oct 26, 2023
In Colorado, American National is the most cost-effective option for SR-22 car insurance, costing approximately $353 per year and $806 per year for minimum and full coverage, respectively. State Farm is the second-cheapest option, with an average annual cost of $435 per year for minimum coverage and $992 for full coverage.
If you don't own a vehicle, GEICO offers the cheapest non-owner SR-22 car insurance at around $457 per year. State Farm is another affordable choice at approximately $483 per year.
An SR-22 is a document that certifies that a driver has the minimum car insurance coverage mandated by the state. You may be required to file it due to certain driving violations, such as a DUI. Although SR-22 car insurance is typically more expensive, you can still find affordable options in Colorado by shopping around.
Cheapest SR-22 InsuranceColoradoCheapest Companies for SR-22 Car Insurance in Colorado
Cheapest for SR-22 - American National Insurance Company
Cheapest for Non-Owner SR-22 - GEICO
Cheapest Companies for SR-22 Car Insurance in Colorado
If you have a DUI in Colorado, the cheapest minimum coverage car insurance policies are from:
- American National: $353 per year
- State Farm: $435 per year
For full coverage SR-22 auto insurance, the most affordable options are from:
- American National: $806 per year
- State Farm: $992 per year
If you’ve committed a driving offense, it's common for car insurance premiums to go up as insurers consider you high-risk and more likely to file claims. Still, you can access cheap rates by comparing quotes from various providers.
The table below shows affordable SR-22 car insurance options in Colorado, which range from $353 to $1,261 per year.
Compare Auto Insurance Rates
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
What Is SR-22 in Colorado?
If you commit certain traffic violations in Colorado, you might need to file an SR-22, which is not a type of insurance but a mandated certificate of financial responsibility. Here are common situations that typically require an SR-22:
- Driving under the influence (DUI) or other serious driving offenses
- Driving without insurance
- Multiple violations within a short period
- Restoring a suspended or revoked license
In Colorado, the SR-22 filing period ranges from one to five years, depending on the severity of the offense. Repeated violations typically result in longer maintenance periods.
Your car insurance provider is required to fill out the SR-22 form for you and file it with the Colorado DMV. Since you will be considered a high-risk driver, you may experience an increase in your auto insurance premiums.
MONEYGEEK EXPERT TIP
Once you've fulfilled the terms of your financial responsibility requirement in Colorado, your insurance company must submit a Financial Responsibility Cancellation Form. This document informs the state that your mandatory SR-22 filing period has concluded, which means you no longer have to keep an SR-22 on file.
Cheapest Companies for Non-Owner SR-22 Car Insurance in Colorado
MoneyGeek found that the cheapest non-owner SR-22 car insurance providers in Colorado are:
- GEICO: $457 per year
- State Farm: $483 per year
Those with a military background should consider USAA, which is a cheaper option at around $421 per year.
In certain cases, non-vehicle-owning drivers may still be required to file an SR-22 form. You may need non-owner car insurance if your car has been taken away or totaled or if you need to reinstate your license. Non-owner car insurance enables you to regain your license and maintain legal driving privileges.
In the table below, we listed the cheapest non-owner SR-22 car insurance providers in Colorado, with policies ranging from $457 to $1,090 per year.
WHAT IS NON-OWNER CAR INSURANCE?
Non-owner car insurance provides coverage for third-party bodily injuries and property damage but not for damages to your vehicle or injuries to you or your passengers. It’s beneficial for renters, rideshare drivers, professional drivers and those filing an SR-22 without owning a car.
MoneyGeek compiled the cheapest non-owner car insurance in Colorado to help you find the best deals.
Average Cost of SR-22 Car Insurance in Colorado
Drivers in Colorado with a DUI on their record can expect to pay an average annual rate of $755 for minimum coverage and $1,660 for full coverage car insurance. Keep in mind that other infractions, such as speeding or at-fault accidents, may require the filing of an SR-22.
Committing driving offenses typically results in higher car insurance premiums since insurance providers perceive you as a higher-risk driver. It's important to maintain a clean driving record and practice safe driving habits to avoid unnecessary increases in your car insurance rates.
MONEYGEEK EXPERT TIP
It’s a good idea to compare car insurance rates annually or when you’re renewing your SR-22 coverage. Doing so allows you to find the most affordable policy and ensure that you're getting the best deal. Regularly reviewing your options demonstrates financial responsibility and helps you save money in the long run.
How SR-22 Affects Car Insurance Rates in Colorado
In Colorado, drivers who need to file an SR-22 can expect an average premium increase of $312. Filing this form indicates that you are riskier to insure, leading to higher rates. However, the rate you're quoted can vary depending on factors such as the severity of the offense, your preferred coverage level and your driving history.
Committing offenses such as driving without sufficient insurance, not complying with court-ordered child support payments and driving under the influence (DUI) are among the most common reasons you may be required to file an SR-22. Understanding these factors and their impact on your insurance rates can help you make informed decisions and maintain responsible driving habits.
Car Insurance Rate Comparison Based on Driving Records in Colorado
Clean Driving Record
Annual Premium for Minimum Coverage
$443
After a DUI
Annual Premium for Minimum Coverage
$755Car insurance premiums after a DUI are on average:$312 more
This is 70% more expensive.
Other Effects of SR-22 on Car Insurance in Colorado
Apart from the increased premiums, filing an SR-22 in Colorado can have additional effects on your car insurance. Here are some potential outcomes associated with filing an SR-22.
1
Limited number of insurance options
Having an SR-22 on file typically leads insurance companies to perceive you as a high-risk driver. As a result, you may find that fewer insurance providers are willing to cover you compared to drivers without high-risk offenses.
2
Possible policy cancellation
If you commit violations that require an SR-22 form, your current insurer may opt to cancel the remainder of your policy. It's important to be aware of this potential outcome and find alternative insurance to ensure continuous coverage.
3
Length of required filing
In Colorado, the length of required SR-22 filing varies based on the severity of the violation and can range from one to three years. In more serious cases, the filing period may extend up to five years. It's essential to be aware of the specific requirements for your violation and ensure compliance with the mandated filing period to maintain your legal driving privileges.
4
Filing fees
You may also incur a one-time filing fee for an SR-22, which can range from $15 to $50. This fee is an additional cost to consider when assessing the financial implications of your SR-22 requirements.
Compare Auto Insurance Rates
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
How to Get SR-22 Insurance in Colorado
To obtain car insurance after a driving violation in Colorado, you typically need to:
- Find an insurance company that provides coverage to drivers with violations on their records.
- Purchase a policy that meets Colorado's minimum liability requirements.
- Request that your insurance company file an SR-22 form on your behalf.
- Pay any necessary fees associated with the SR-22 filing and ensure that it stays up to date.
COLORADO LICENSE REINSTATEMENT FEE
The license reinstatement fee in Colorado is $95 for most offenses. However, fees are subject to change, so we recommend consulting your local DMV for the latest and most accurate information if you need to get your license reinstated.
How to Get Cheaper Car Insurance in Colorado After a DUI
Getting insured after a DUI conviction will likely result in higher costs, but there are measures you can take to reduce your overall expenses. By comparing SR-22 car insurance quotes from different insurers, maintaining a clean driving record and exploring discounts, you can potentially lower your insurance premiums.
Compare quotes immediately
By comparing quotes for SR-22 car insurance right away, you can increase your chances of finding cheap coverage after a DUI in Colorado. Insurance providers conduct risk assessments differently, so some will offer cheaper premiums than others. Collect and compare quotes from at least three insurers in your area to find the best rate.
Complete DUI classes or programs
Participating in Colorado's DUI programs and classes after a DUI conviction can help reduce the likelihood of future offenses. By actively engaging in these programs, you demonstrate a commitment to responsible driving, potentially leading to lower insurance rates.
Look for discounts
Although a DUI conviction may disqualify you from certain discounts, such as good-driver discounts, there are still other discounts that you may be eligible for. Insurance providers offer various discounts for bundling policies, installing anti-theft devices and more. Exploring these options can help you offset the impact of a DUI conviction on your insurance costs.
Practice safe driving
To maintain a clean driving record after a DUI, practice safe driving habits. Reduce your driving distances if possible, limit your time on the road and stay focused while driving. By preventing additional violations, you can improve your driving history and potentially qualify for lower insurance rates in the future.
Shop rates over time
Your insurance rates can change over time. Even if you currently have the best rate, it's wise to regularly compare insurance companies before your policy renews. By staying proactive and reviewing your options, you can ensure that you're getting the best policy for your needs and budget.
MONEYGEEK EXPERT TIP
Non-standard car insurance is a viable option for high-risk drivers who may have a limited choice of insurers. Although it typically comes with higher rates than standard auto insurance, it is designed for individuals with a history of accidents or other risk factors and provides coverage that may be hard to find elsewhere.
Frequently Asked Questions About SR-22 Insurance in Colorado
MoneyGeek responded to some frequently asked questions about SR-22 car insurance in Colorado to help you find the best option for you.
About Mark Fitzpatrick
sources
- Colorado DMV. "DUI Services." Accessed June 8, 2023.
- Colorado DMV. "Process to Reinstate Driving Privilege." Accessed June 8, 2023.