How Much Car Insurance Coverage Do I Need as a Colorado Driver?

Cars driving on a mountainous highway with snow on the ground

Like all other U.S. states, Colorado requires drivers to carry certain minimum amounts of auto insurance coverage. This coverage is designed to protect you in the event of a car accident so that you don’t have to pay for the damages out of your own pocket.

Keep reading to learn more about the required minimum auto insurance coverage in Colorado.

Mandatory Auto Insurance Coverage in Colorado

As a Colorado driver, you are required to carry liability insurance. This type of insurance policy will cover bodily injury to another person or property damage to another person’s vehicle or property when you are at fault for an accident.

According to the Colorado General Assembly, you are required to carry the following minimum coverages:

  • $25,000 for bodily injury or death to any one person in an accident;
  • $50,000 for bodily injury or death to all persons in any one accident; and
  • $15,000 for property damage in any one accident

Optional Auto Insurance Coverage

While you are legally required to carry the aforementioned insurance coverage, the basic liability policy may not be enough to protect your assets in the event of a wreck. There are additional coverage options that you can choose to purchase to supplement the basic liability coverage.

The following are some optional coverage options that you may want to consider adding to your policy if it makes sense for your individual circumstances:

Uninsured/Underinsured Motorist Coverage

Uninsured/underinsured motorist (UM/UIM) coverage pays for your bodily injury losses that were the result of a hit-and-run collision, a driver with no auto insurance, or a driver of a vehicle that is underinsured.

This type of coverage takes the place of the insurance that the other driver should have been carrying or protects you when the at-fault driver’s vehicle is insured, but the bodily injury liability limits of the policy don’t meet the limits of the insured’s UM/UIM coverage.

Keep in mind that this coverage only protects you, and not the other driver involved in the collision.

Comprehensive and Collision Coverage

Comprehensive Coverage

Comprehensive coverage will protect you against other types of damage to your vehicle, such as the following:

  • Falling objects
  • Fire
  • Natural disaster
  • Theft
  • Vandalism

Collision Coverage

Collision coverage will pay for damage to your vehicle from a collision with another vehicle or object, or from a rollover.

While you are not legally required to carry collision coverage, it may be required by lenders as a condition of vehicle financing.

Medical Payments Coverage

Your health insurance policy may help pay for any injuries you sustain in a car accident. However, depending on your plan, you may end up with high deductibles, copayments, or other considerable medical expenses.

You may purchase medical payments coverage as part of your auto insurance package in order to supplement your health insurance plan to pay for your medical bills in the event of an accident. This coverage is particularly helpful for people who don’t have health insurance.

Medical payments coverage will cover the costs of your medical expenses, including copayments or deductibles, for you and your passenger, no matter who is responsible for the crash.

This type of coverage is typically offered in increments of $1,000, up to a maximum of $25,000.

There’s No “One-Size-Fits-All” Policy

Regardless of your circumstances, it’s best to discuss your coverage options with a skilled auto insurance agent so that you can purchase the coverage that best fits your particular situation. There’s no “one-size-fits-all” policy, so it’s wise to go over all your options with an experienced agent so you don’t end up paying for coverage you don’t need.

If you’ve been involved in an injury-sustaining car accident, you may be owed compensation. Our attorneys here at Gaddis, Herd, Craw & Adams, P.C. are highly skilled in the area of car accident personal injury law. We have helped many other people in situations just like yours, and we may be able to help you, too. Don’t delay—contact our office with your case right away.

Contact our team at today to discuss the details of your case.

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