Process as a long-term relationship between the insurance agent and Until the 1990s, communications in the insurance industry wereįairly humorless, and the industry portrayed the insurance buying However, you may want to skip such policies for older vehicles that are not worth very much.This activity is important because it demonstrates the value of
Such coverage ensures that your own vehicle gets repaired should you be at fault or if your car is damaged in a blizzard or other natural disaster. Lastly, collision and comprehensive coverage - both of which must be offered to consumers by law - can prove valuable.
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Given the high number of drivers cruising the state without an insurance policy, you may also want to consider uninsured/underinsured motorist coverage, which insurance companies in the state must offer. If you factor in the cost of surgery or an extended hospital stay, you'll see why: $50,000 is often not enough to cover costs, and at-fault drivers are responsible for coming up with anything beyond that amount. How Much Coverage Do You Need in Colorado?Ĭolorado's minimum liability coverage of 25/50 is well below experts' recommendations of 100/300.
Drivers must pay $35,000 in cash or hold a surety bond in the same amount. Alternatives to Insurance in ColoradoĪlthough there is an alternative to car insurance in Colorado, the state does not make it cheap. Check with your insurance company to see if you qualify for CO AIP. High-Risk Auto Insurance Program in ColoradoĬolorado has a high-risk auto insurance program - the Colorado Motor Vehicle Insurance Plan (CO AIP) - created to provide automobile insurance to eligible drivers who could not get coverage otherwise. If you owe money on your car, you should also consider comprehensive and collision coverage to protect your own vehicle. While those are the minimum requirements, many consumer advocates recommend that policyholders looking to protect their assets get at least $100,000/$300,000 in liability coverage per person and per accident, respectively. $15,000 for property damage in any one accident.$50,000 for bodily injury or death to all persons in any one accident.$25,000 for bodily injury or death to one person in an accident.The following minimum coverages are required by the state, although you may purchase higher coverages: This policy covers bodily injury to another person and damage to another's vehicle or property when the insured is at fault for an accident.
Minimum Liability Insurance Requirements in ColoradoĪutomobile owners in Colorado are required to carry liability insurance. If a law enforcement officer asks for it.When you register your vehicle (or renew the registration).You'll need to show proof of auto insurance in Colorado: A letter from your insurance company, if it shows the company letterhead.You must prove that you carry at least the minimum required Colorado auto insurance in the form of an insurance card or a picture on a cell phone. Maintaining a clean driving record after a DUI, paying your car insurance premiums on time, and comparing quotes regularly can help keep your costs down over time.Ĭar Insurance in Colorado: What You Need to KnowĬolorado requires all drivers to insure their cars before registering or driving them. During a 13-years period, you could end up paying an additional $40,000 in insurance costs after a DUI. If you have a DUI on your record in Colorado, you may need to shop around for car insurance to find a lower rate. Additionally, your auto insurance premium is likely to spike. If you get a DUI, you'll likely pay hefty fines and court fees and may have to attend alcohol education or treatment programs. During the 30 days prior to being surveyed, 1.8% of adults in Colorado reported driving after having too much to drink. According to the Centers for Disease Control and Prevention ( CDC), 1,548 people were killed in traffic crashes in Colorado due to drunk driving between 20. Driving while under the influence is not only dangerous for you and others, but it can also be costly.
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