Minimum Car Insurance Requirements In Colorado
Auto insurance is governed by laws that differ from one state to another. The minimum coverage of your car insurance is the most important law since it helps you to know the amount of claim that you can make.
Having prior knowledge of the minimum car insurance requirements in Colorado gives you peace of mind when you are driving.
In Colorado the minimum limit is $25000 per person for injuries that are sustained and $50000 per accident if more than one person is injured. This insurance covers you when the other driver makes a claim and alleges that you were at fault.
Car insurance also contains property damage liability. This covers you when you damage property that belongs to someone else. Property that is covered includes another person’s car, houses and any other property. In Colorado the minimum amount is $15000 per accident.
Some drivers are not fully covered. Such drivers are covered by the Uninsured or Underinsured Insurance cover. This insurance covers you when you are hit by a car that is under insured. In Colorado the under insured motorist insurance covers the minimum amount that you choose for body injury. Colorado does not require underinsured drivers to buy this insurance. However it is always wise to hope for the best but prepare for the worst. To be on the safe side you can add the underinsured motorist coverage to your auto insurance.
Collision insurance covers you when your car is damaged by hitting another car or any other physical object. This insurance is not required by law in Colorado. However it can save you from agony when you are involved in an accident. This insurance cover allows you to get a deductible.
Comprehensive car insurance covers you when you car is damaged by other ways other than collision. It also covers you when your car is stolen. You can get a deductible on this insurance although it is not compulsory for you to have the comprehensive insurance.
In Colorado your car insurer should offer the driver $5000 in med pay or medical coverage. You can choose to not to have this coverage. If you don’t opt out of the medical payment the extra premium is added to the driver’s policy. This coverage is not mandatory in Colorado.
Although the law requires you to only have the minimum insurance you should always strive to buy insurance that offers you more coverage. This will give you peace of mind if something goes wrong because your insurer will take care of all the claims.