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Colorado Sees Third Highest Increase In Auto Insurance Premiums

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Colorado’s auto insurance premiums are the third-fastest rising in the US, according to a new survey.  

As The Denver Post reports, Colorado’s average premium increased by 54.2 percent between 2011 and 2017, but other High Plains states didn’t fare much better. The average premium in Texas rose by 44.3 percent and Kansas’ saw a 36.3 percent increase. Oklahoma saw a 20.5 decrease in the average premium over that time period.

The Zebra State of Auto Insurance 2018 survey based its findings on what a 30-year-old single male with a good driving record would pay for insuring a 2013 Honda Accord Ex in each of the 50 states.

Several factors are to blame for Colorado’s large increase - heavy hailstorms, distracted driving and lower gas prices that have resulted in more people on the road. And the survey found that between 2016 and 2017, premiums rose an average of 3.2 percent in states like Colorado where recreational marijuana is legal but only 1.6 percent in states where the drug is banned.

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