Rising Insurance Rates in Colorado?
The rates in Colorado are going up by about 25% across the board due to the increased population and claims activity. We have a problem in this state with people driving without, or without enough, insurance and the claims activity is insane.
I have had 2 clients have their vehicles stolen this year…both recovered, but a total loss. Not their fault, but the insurance will pay out and that cost the insurance companies money so rates go up.
The hail on May 8th, 2017 was the most damaging wide spread single hail storm event we have ever seen. That will cause the rates to go up. These are all reasons for the rates to increase.