Jared Polis, governor of Colorado, said the state is launching an action plan to lower auto insurance premiums by improving road safety and reducing key cost drivers.
“In Colorado, we are focused on saving people money and making Colorado the best place to live, work, and play,” said Polis. “Auto insurance is too costly, confusing, and often a burden to many people. that is why I’m launching our action plan to reduce auto insurance rates, make our communities and roads safer, and deliver lower auto insurance rates.”
According to the governor, the statewide action plan is paired with a “Roadmap to Reduce Auto Insurance Premiums,” focusing on lowering premium costs while enhancing public safety on roads and in communities. The release outlines a set of state-led strategies intended to reduce costs for drivers by targeting factors that influence claims and premiums, including safety initiatives and enforcement actions.
The roadmap notes that auto insurance affordability has tightened nationally. It cites that the average annual cost of insurance in the U.S. increased by more than 40% from June 2022 to June 2024. Additionally, it sets a competitiveness goal: moving Colorado from the 5th most expensive state for comprehensive coverage to the 10th within the next two years. This will be achieved using a five-part strategy focused on safety, theft, uninsured drivers, repair costs, and weather impacts.
Colorado’s vehicle theft totals have shown meaningful improvement in recent reporting. The Colorado Auto Theft Prevention Authority’s annual report for 2023 cites 32,976 reported stolen vehicles in 2023 versus 41,656 in 2022. Furthermore, there was a per-capita theft-rate decline from 713 per 100,000 residents in 2022 to 560 per 100,000 residents in 2023—a 21% drop. Auto-theft reductions are frequently cited by policymakers and insurers as contributing factors to lower claim frequency over time.
Polis is described by his official office as an entrepreneur, education leader, and public servant who previously served on the State Board of Education and represented Colorado in Congress.
