By: Ishan Mukhopadhyay Nov. 13, 2018
In its recent analysis on car insurance policies in Boulder, CO, Raltin shows that married male drivers pay the lowest premium of $318, whereas 21-year-old single male drivers incur the most expensive premium of $6,435. To conduct the study, Raltin uses data published by the Colorado Department of Regulatory Agencies Division of Insurance.
Car insurance premiums are based on factors such as car model, driver age, coverage limit, deductible value, annual miles, and marital status. The vehicle chosen for the study is a 2012 Ford Fusion S FWD, 2.5 liter Duratec L4 Engine, 6-speed car. In addition, the following assumptions are made: the underinsured motorist per occurrence limit ranges between $50,000 and $3,00,000; the uninsured motorist per person limit is $25,000, $50,000, or $100,000; the property damage limit is $50,000; the per occurrence bodily injury limit ranges from $50,000 to $300,000; the bodily injury per person limit is $25,000, $50,000, or $100,000. In addition, the age range for all driver segments is between 21 and 68 years. Further, all drivers have a clean driving history and no accident record in the past three years. The drivers report driving about 30 miles to and from work every day.