Colorado is a no longer a no-fault
state, which means that if you are looking for a new auto policy,
this new policy will be significantly different than your old one.
Probably the most important change from the old law, is the fact
that you are no longer required to carry medical coverage on your
auto policy. If you have health coverage through another source,
this can mean a significant decrease in your overall premiums (as
much as 20%).
Without this PIP, however, more claims will be paid out of your
liability coverage or uninsured motorist coverage, so you may need
to adjust the levels of these from what you previously had. Colorado
auto insurance companies will also offer optional coverage such as
collision, comprehensive, and uninsured and underinsured motorists
coverage. The State of Colorado has
financial responsibility/compulsory limits of 25/50/15. The first
two figures refer to bodily injury liability and the third figure to
property damage liability. 25/50/15 means coverage up to $50000 for
all persons injured in an accident, subject to a limit of $25000 for
one individual, and $15000 coverage for property damage. The
insurance industry and consumer groups generally recommend a minimum
of $100,000 of bodily injury protection per person and $300,000 per
accident since accidents may cost far more than the minimum limits
mandated by most states. Click below to find cheap
Colorado Auto Insurance Quote. |