A Guide to Auto Insurance in Colorado (CO)

Colorado auto insurance is required if you plan on operating your vehicle in Colorado. This is to not only protect other drivers on the road, but yourself in the event that an accident occurs. In addition to this, you will find that by law you are required to have your vehicle insured. To get a better understanding of what you need to look for in this process, you will want to look at the minimum requirements you must have.


Colorado Auto Insurance - The Minimum Requirements

The first portion of Colorado auto insurance you will need to have is called Bodily Injury Liability. With this insurance, your coverage will pay out if someone besides yourself is killed or injured in an accident.

When you are operating your vehicle, you are legally required to have a minimum of $25,000 coverage per person insured. In addition to that, you will need to have $50,000 maximum per accident available. On your insurance plan, this will be shown as 25/50. You may however want to carry a higher balance on your insurance.

The next requirement you need to have is called Property Damage Liability. With this portion, you are covering damage that you might cause to the property of someone else. Generally, you will be covering the automobile that you hit, but if the accident is a single car and you are hitting a building or other item, this insurance will cover those items as well. By law, your Colorado auto insurance must cover a minimum of $15,000 per incident.

Another item on your insurance is Uninsured and Underinsured Motorists. These go into effect when you are in an accident and the other individual doesn't meet the minimum coverage for the damage assessed or they have no coverage at all. You will want to be sure to pay close attention to this and decide if it is right for you. By law, any company offering Colorado auto insurance must include this option to you at a minimum of the state's liability limits.

The truth is that at any given time in Colorado there will be a significant portion of people who will be driving around without any auto insurance. Apart from the fact that this is incredibly irresponsible, it also means that you as a driver need to take pre-cautions in case you are involved in an accident with just such a driver.

The costs of repairing cars or replacing them is huge, and you don't want to find yourself in the position of not only having to deal with an accident, but also having to worry over the fact that the other driver is not properly insured.

One other item you can have are to cover medical expenses. By law, the insurer will need to offer you a $5,000 policy that you may reject. This coverage will take care of you in the event that an accident results in serious trauma to your body. If you select this option, the insurance company will be required to hold on to these funds to help with your medical bills.

This amount is actually very low though, and all but the least serious accident may result in you going over that amount. So give some serious thought to including higher levels of medical cover in any Colorado Auto Insurance Quotes you get.


Colorado Auto Insurance - The Optional Extras...

Of course, with Colorado auto insurance policies that are available, you will notice that other types of cover are available to you. These are optional items that you can opt into. The most common ones are Collision Coverage which helps when you hit another car. Typically, if you have an auto loan, you also have this type of insurance.

The next type of common coverage is Comprehensive coverage. This will cover your car if an act of nature or criminal event causes you a loss on your vehicle. So this will be such things as vandalism, someone breaking into your car, or a tree falling on your car. This may well add considerably to the cost of the auto insurance, but the flip side is that this type of cover includes the most likely scenarios on which you may actually wish to make a claim on your auto insurance; so if you can afford it, it is worth getting a comprehensive Colorado Auto Insurance polciy.

No matter what you decide to do with your insurance, it is important that you keep in mind that having more insurance is better in some cases. Your Colorado auto insurance is going to help to keep you better protected, when you have higher levels of coverage under your belt, and in that way, you will never have to worry about any surprises that could occur.

You should now get some quotes so that you will immediately have a better idea of what the costs for these different options may be, and to help you to decide what options you should go for when it comes to your auto insurance policy.


 

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