In Colorado, you are required to have auto insurance which provides some financial coverage in case of an accident. Auto insurance helps to protect you against financial loss in the event of an accident or theft. It is recommended that drivers carry auto limits that are higher than what the state requires. Colorado requires you to carry $25,000 per person or $50,000 per accident for bodily injury, and $15,000 per accident for property damage. This means that if you were at fault in a car accident, and another person were to get injured and incur medical bills, lost wages, and pain and suffering that exceed $25,000, you would pay the difference. $25,000 may seem like a lot of money, but it does not go very far in the case of the amount owed for an auto insurance accident.