Liability Insurance: Colorado's Auto Essential

In Colorado, drivers are required by law to carry liability insurance. This includes bodily injury liability insurance, which covers injury to another person in an accident, and property damage liability insurance, which covers damage to another person's vehicle or property. The minimum coverage amounts are $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $15,000 per accident for property damage. While these are the minimum requirements, insurance companies offer several optional coverage types, including collision coverage, comprehensive coverage, and uninsured/underinsured motorist coverage.

Minimum liability insurance coverage in Colorado

In Colorado, drivers are required by law to carry liability insurance. This covers bodily injury to another person or property damage to another's vehicle or property when the insured driver is at fault for an accident. The minimum coverage amounts are as follows:

• $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
• $15,000 for property damage in any one accident

While these are the minimum requirements, it is recommended that drivers carry more than the minimum coverage if they can afford to. This is because the cost of emergency care alone could exceed the minimum liability limits, and the property damage limits are typically lower than the average cost of replacing a new car.

In addition to the minimum liability coverage, Colorado drivers may also want to consider optional coverage types such as uninsured/underinsured motorist coverage, collision coverage, and comprehensive coverage. Uninsured/underinsured motorist coverage can help protect you if you are hit by a driver without insurance or with insufficient coverage. Collision coverage covers damage to your vehicle caused by colliding with another object, such as a fire hydrant or another vehicle. Comprehensive coverage pays for repair or replacement of your vehicle if it is damaged by something other than a collision, such as weather, theft, or vandalism.

It is important to note that driving without the proper insurance in Colorado can result in various penalties, including fines, license suspension, and community service.

Bodily injury liability insurance

In Colorado, automobile owners are required to carry liability insurance. This covers bodily injury to another person or property damage to another's vehicle or property when the insured person is at fault for an accident. The state has set minimum coverage requirements, but higher coverage can be purchased.

Bodily Injury Liability Coverage (BI) is a critical component of your auto insurance policy. It helps pay for injuries to others if you are at fault for an accident. It can also help cover legal fees if you are sued for damages. While BI is required in most states and is included in most car insurance policies, it is always a good idea to ensure your policy includes it.

In Colorado, the minimum coverage for bodily injury liability is $25,000 per person and $50,000 per accident. This means that if you are at fault for an accident, your insurance will cover up to $25,000 for bodily injury or death to any one person, and up to $50,000 for all persons in any one accident. However, financial experts advise drivers to opt for higher coverage if possible, with recommended limits of at least $100,000 per person and $300,000 per accident.

Bodily Injury Liability Coverage can help pay for various costs related to injuries caused by the accident. This includes emergency care services, ongoing care costs, and legal fees. It can also help cover expenses for others injured in the accident if they have to miss work or cannot work due to their injuries. In some cases, it may also cover emotional stress or prolonged pain resulting from the accident. If the accident results in a fatality, Bodily Injury Liability Coverage will help pay for funeral costs.

It is important to note that the state-mandated minimum coverage may not be sufficient in all cases. When shopping for insurance, it is essential to consider your specific needs and choose a policy that provides adequate protection. You can use a coverage calculator to determine how much coverage you may need. Additionally, you have the option to choose higher limits for more protection or purchase umbrella insurance for additional coverage.

Property damage liability insurance

In Colorado, drivers are required to carry liability insurance, which covers bodily injury to another person or property damage to another's vehicle or property when the insured is at fault for an accident. The state has set minimum coverage requirements, which include $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.

Most states, including Colorado, require a minimum amount of property damage liability coverage. In Colorado, the minimum required property damage liability coverage is $15,000 per incident. This coverage typically applies to damage to another vehicle, but it can also cover damage to buildings, utility poles, and other physical property. While this is the state-mandated minimum, drivers may want to consider purchasing additional coverage to protect themselves financially in the event of a more significant accident.

Liability insurance is typically represented in three numbers on a policy, such as "25/50/10." The first two numbers represent the bodily injury coverage per person and per accident, while the third number is the property damage liability limit. For example, a policy with limits of "25/50/10" would provide $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage liability coverage per accident.

Uninsured/underinsured motorist coverage

In Colorado, uninsured/underinsured motorist coverage (UM/UIM) is an optional form of automobile insurance that provides bodily injury protection if you are in a car accident. It covers your injuries if the at-fault driver is underinsured or uninsured. It also covers your injuries if you are in an accident with a hit-and-run driver.

UM/UIM insurance is not the same as liability insurance. Liability insurance pays another person for damages you caused, whereas UM/UIM insurance covers your injuries if the other driver is at fault but doesn't have enough insurance to cover your expenses.

In Colorado, insurers are required to offer UM/UIM coverage as part of every policy sold, and it is set at the same amount as the bodily injury limits chosen by the policyholder. However, policyholders can opt to waive, reject, or reduce this coverage in writing.

UM/UIM coverage can help cover:

• Medical expenses for injuries sustained by you and your passengers
• Funeral expenses in the event of a death

It is important to note that UM/UIM coverage does not protect the other driver, and it does not cover damage to the insured's vehicle.

Medical payments coverage

• Ambulance bills
• Emergency room bills
• Surgical bills
• Testing, including X-rays, CT scans, and MRIs
• Follow-up care and treatment with doctors, physical therapists, and chiropractors
• Chiropractic treatments
• Doctors' appointments
• Health insurance copays
• Health insurance deductibles

MedPay is typically sold in multiples of $5,000, with a minimum coverage of $5,000 per person, and is available for a small premium. It is a good idea to purchase MedPay coverage on top of your health insurance because, unlike health insurance, MedPay does not require you to satisfy any annual deductible, and you do not have to reimburse the insurance company for anything that was covered by MedPay benefits when you settle your case.

Frequently asked questions