What is required under Colorado law?
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Due to extreme weather changes that consist of hail, snow, and heavy rain, native to Colorado climate, you may find yourself in an accident in your car, truck, or motorcycle. Rating this valuable investment. Auto insurance can protect you in various ways including reducing liability risks and also protecting the actual vehicle’s value.
Colorado auto insurance requirements are not optional. At C & I Insurance we say, if you own or operate a vehicle in the state, you will need to meet liability insurance requirements. This is a very low level of liability protection. It protects the other driver involved in an accident with you. It does not protect you from damage to your own car. Colorado’s minimum liability insurance requirement is:
- $25,000 per person for bodily injury claims
- $50,000 per accident for bodily injury
- $15,000 per accident for property damage
Liability insurance kicks in when you are involved in an accident or incident that causes damage to another person’s property or person. It can help to pay for their medical bills, lost time at work, pain and suffering, and vehicle repairs, for example. This insurance limit is very minimal. We often recommend a higher amount of coverage.
Legally Required Insurance
It’s also important to know that, if you have a vehicle that is under a loan or is leased, you’ll need to maintain comprehensive auto insurance. Your lending or leasing agreement will specifically state the type of insurance required. This helps safeguard the lender or lease holder’s investment.
Aside from liability insurance, auto insurance can provide you with a number of additional types of coverage. These are other ways you may suffer loss in the operation and use of your vehicle.
Medical Payments Coverage
If you are involved in an accident and you are hurt, medical payments insurance will help to cover the medical (and sometimes funeral) costs associated to you. It covers you and your passengers.
Sometimes, you make a mistake and collide with a fence, pole, or even another car. This type of insurance covers the repairs necessary to your vehicle and the property you damage (if it is your own).
In Colorado, comprehensive auto insurance is important. Fires, windstorms, and even snowstorms can damage your vehicle. Vandalism and theft are also threats. This coverage protects your vehicle from unavoidable and accidental damage like this.
Uninsured and Underinsured Motorist Insurance
You are involved in an accident that someone else is responsible for, but that person does not have any or enough liability insurance to cover your losses. In these instances, your underinsured and uninsured coverage will kick in to pay for your losses.
In addition to these types of auto insurance, you can also add additional features to your plan. For example, you can add a car rental and travel expense coverage to help you when you are on the road and your car breaks down. And, emergency roadside assistance can also help ensure you can get back on the road when you need to.
Special Vehicles with Special Needs
Auto insurance covers most types of passenger vehicles. If you are operating your vehicle as a part of your business, you should choose commercial auto insurance. For those who have a vehicle that has a very high value, such as a rare, custom, or antique car, you may need a specialized collectors insurance policy. Vehicles may also have special equipment on board, such as medical assistance features. If your vehicle is customized with these types of features, be sure your policy has ample financial protection in place.
Also important to consider for many people today is the use of their personal vehicles for ride-share programs. If you hope to be an Uber or Lyft driver, customize your policy to represent this type of risk. This will further protect you.
Can You Save Money on Auto Insurance in Colorado?
Auto insurance is very valuable. When an accident occurs, you’ll appreciate having the ability to maintain a policy. There are various ways to save on auto insurance in Colorado. For example, bundling multiple vehicles into one plan can help you to save money. If you are a safe driver and maintain a good driving record, this, too, can help you to save money.
Getting a Custom Auto Insurance Quote
At C&I Insurance, we can help you get the affordable but comprehensive auto insurance you need. Request a quote for auto insurance in Colorado today and find out just how easy and affordable it can be to have peace of mind.