Colorado Auto Insurance Policy Requirements

Q: What is in a basic Colorado auto insurance policy?
A: The major components of your Colorado auto insurance policy are:

  1. Liability Coverage
    1. Property and people are considered separately, and therefore there are two kinds of liability insurance:
      1. Bodily Injury Liability Coverage
      2. Property Damage Liability Coverage
    2. Liability coverage is required in Colorado. A driver must possess a valid driver’s license in addition to a minimum of liability coverage in his or her auto insurance policy:
      1. 25/50/15” (Colorado’s minimum auto insurance requirement)
      2. $25,000 for injury/death to an individual.
      3. $50,000 for injury/death to two or more individuals.
      4. $15,000 for property damage.
    3. Liability minimums for leased vehicles vary from those listed above
  2. Collision Coverage is only required if your vehicle has not been paid for in full. If you are no longer financing your vehicle, then collision is only a recommended option for your Colorado auto insurance policy.
  3. Comprehensive Coverage is only required if your vehicle is financed. Otherwise, comprehensive is an optional part of a Colorado auto insurance policy.
  4. Medical Payments Coverage is recommended though not required for a Colorado auto insurance policy.
  5. Uninsured (and Underinsured) Motorist Coverage is a required insurance component in Colorado.
  6. Personal Injury Protection (PIP) Coverage is required for all Colorado auto insurance policies.
  7. Other Options
    1. Towing Coverage
    2. Rental Coverage
    3. Loan/Lease Gap Coverage
Q: Is Colorado a No-Fault state?
A: Yes, Colorado is a no-fault state.

Q: How can I get a discount on a Colorado auto insurance policy?
A: Several discounts are available to help you save money on auto insurance. For more information CLICKinsure has created a list ofauto insurance discounts.

Q: Where can I find more information about Colorado auto insurance?
A: Here are some internet resources for further information on Colorado insurance:
  1. Colorado Insurance Resources
    1. The Colorado Department of Motor Vehicles (DMV) registers Colorado vehicles and drivers licenses. Driving records, including convictions and accidents, are also available through the DMV. The website of the CO DMV has an auto insurance page for further details.
    2. The Colorado Department of Insurance (CO DOI) is a state agency that helps consumers with insurance issues.
  2. National Insurance Resources

We are happy to serve Colorado, from the cities of Denver, Colorado Springs, Aurora, Lakewood, and Fort Collins to the expanse of the snowcapped Rocky Mountains, grassy High Plains, fertile farms, and rushing Colorado River. In a land where cowboys, ski enthusiasts, and city slickers share the road, and the state’s diverse geology contributes to the formation of extreme weather conditions, automobile insurance is absolutely necessary. As one of the fastest growing states in the U.S., Colorado has numerous insurance options that a CLICKinsure agent can help you navigate. Choose CLICKinsure as your broker to find the best option for you.

 

Topics: