Bodily Injury Requirements in Colorado
In Colorado, you're required by law to carry $25,000 per person and $50,000 per accident when it comes to bodily injury liability coverage. Bodily injury liability helps pay for the medical expenses of another driver when you're at fault.
The minimum limits that are set by each state are the lowest you're allowed to carry as a driver. However, most advisers will recommend that you obtain more liability protection, as many accidents can often exceed the minimum limits.
Property Damage Requirements in Colorado
Property damage liability will help pay for another driver's vehicle damage when you're at fault for an accident. In Colorado, you'll be required to have $15,000 in property damage liability on your auto policy.
Since you're not mandated to carry more than the minimum limits of auto liability, you could be at risk without more coverage. It's difficult to find a car that is under $15,000 these days. If you're responsible for a loss, you might have to pay out of pocket without enough insurance.
Medical Payments Coverage Requirements in Colorado
Colorado has a tort-based auto policy. This means you can collect coverage for medical expenses under the insurance company involved. Medical payments coverage can be added to your auto policy to help pay for additional medical bills.
This can be especially helpful when you're involved in an at-fault accident and have sustained injuries. Medical payments coverage will help pay for those medical expenses so you're not responsible.
Uninsured Motorist Coverage in Colorado
Uninsured motorist coverage helps pay for injury or damage resulting from an auto accident with an at-fault-driver. The state of Colorado doesn't require you to carry uninsured motorist coverage, but that doesn't mean you shouldn't have it.
While this protection may not be mandated by law, it's still very useful in the event of an accident. Just because auto insurance is required doesn't mean everyone follows suit. In Colorado, 13.3% of the driving force is uninsured. This means that you could be responsible for damage or medical bills if involved in an accident with an uninsured party.
Optional Car Coverage in Colorado
Each auto insurance policy will come with optional coverage limits. While the minimum liability car insurance is required by law in Colorado, that's not the only protection you may need. Collision insurance and comprehensive insurance are two viable options if you want full coverage on your vehicles.
Both collision and comprehensive limits help pay for damage to your autos in the event of an auto accident. You may also consider adding roadside assistance when you need a tow or tire change on the side of the road. Another protection that's good to have is rental car coverage, which pays for a rental car needed due to a covered claim.
Car Insurance Discounts to Consider in Colorado
In Colorado, it's possible to get a discount on insurance. Some premium savings can apply when you have multiple vehicles, or multiple policies insured with the same carrier. A discount of 30% or more is usual on your car insurance.
Another great perk when you're a member of an association, such as a teachers union, attorney group, or others, is discounts on coverage. And don't forget about loyalty discounts. The longer you've been with a carrier, the more they'll reward you with cost savings.
How to File a Car Insurance Claim in Colorado
When you have to file a car insurance claim, it can be confusing. It's best to remember how to handle an accident by actionable items. Check out these 4 simple-to-remember steps when filing a car insurance claim in Colorado.
First, you'll want to ensure that all parties are safe and get necessary medical attention. Second, get your independent insurance agent on the phone to report the claim. Third, obtain a replacement vehicle if needed and your assigned claims number. Finally, set up a date and time with your adjuster to assess the loss and get paid for the claim.