Colorado Auto Insurance - Staying Informed
Colorado Auto Insurance - Staying Informed
If you are a driver in Colorado state, then you must as a matter of necessity, do all you can to know what your state requires from you as far as auto insurance is concerned. We would try to look at this now.
Some people would know that prior to 2003, the state of Colorado operated a no-fault insurance system. This meant that in an auto accident, the drivers involved took care of the medical expenses that arose from it regardless of who was at fault. Of course, this had a major impact on premiums. In July 2003, the state of Colorado switched to the tort system which means that the person at fault now bears the responsibility of taking care of these bills. Since this is now the case, it is important that you have an adequate liability coverage so you would not have to bear the cost of these liabilities from your pocket if they come.
Like in many states, Colorado has a minimum required for you to drive legally in the state. These are:
$25,000 in bodily injury liability for each individual.
$50,000 in bodily injury liability for each accident.
$15,000 in property damage liability for every accident.
The above are the minimum required by law. There are more options available to you as a driver in Colorado. These are:
1. Collision Coverage. With this coverage, your car is covered for damage from an accident even if you are at fault.
2. Comprehensive Coverage. This is a broad based cover which covers your car against, damage, theft, fire, vandalism, some natural disasters etc. There would be some exclusions. You need to find out what they are as they may differ from insurer to insurer.
3. Medical Payments. Not every insurer offers this coverage. The few that do offer this, would usually have limits of between $5,000 and $25,000. This coverage under the tort system provides cover for you and your injured passengers in your car not regarding who was at fault.
4. Uninsured and Under-insured Motorist Coverage. If you are to drive in Colorado, it is very critical that you consider this though it is not required by law. If you are wondering why this is sure, it simple. About 35% of the drivers in Colorado are uninsured. With this cover, you and the passengers in your car are protected in case an uninsured or under-insured driver is at fault in an accident with you.
Getting the above coverages are important and though many know this, they would not get the cover because of the cost. Here are a few ways through which you can get lower rates.
1. First, getting and comparing quick auto insurance quotes would help you get affordable Colorado auto insurance. Get quotes from quotes comparison sites.
2. Taking advantage of discounts. There are a number of discounts available and knowing and taking advantage of them would ensure you make significant savings. Some examples of discounts include: multiple policy discounts, good driving discounts, no claim discounts, good grade discounts, low mileage discounts etc. Talk to your insurance agents and let them explain these discounts to you.
A combination of quotes comparison and taking advantage of discounts is a sure of getting affordable auto insurance anywhere including Colorado state. Get more information now by calling Colorado Division of Insurance at 303 894-7499. Get informed.
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