Auto Insurance.

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.

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Liability

Liability coverage is the most important type of coverage.  This pays for the damage that you could cause to others in an accident if you are at fault.  Motor vehicles can be very dangerous, so it is important to make sure that in the case of an accident, you are not held responsible for the thousands, and possibly millions of dollars that you could have to pay for injuries/damage to others.  It is also crucial to make sure that your liability coverage will provide enough protection for your assets and earnings so that your assets and wages are not seized in the event of a bad accident.

Uninsured/Underinsured Motorist Bodily Injury

Uninsured/ underinsured motorist bodily injury coverage may not be required in the state of Colorado, but a legal document must be signed if you reject this coverage.  This coverage is very important to have as it protects you and the people in your vehicle if you were injured in an accident that was caused by somebody who is uninsured or underinsured.  It keeps you from having to pay potential medical bills, loss of wages, and things like pain and suffering. This coverage kicks in after your health insurance.

Medical Payments

This coverage is used for you and for the people in your car if you incur medical expenses from being injured in an accident.  This coverage will pay for all reasonable and customary costs for necessary medical services, up to the policy limit.  Medical bills from a car accident can add up quickly, so it is important to make sure that you have the necessary coverage.

Collision Coverage

If you hit a moving or stationary object while driving, your collision coverage will pay for the damage to the vehicle.  Theft and weather damage are not covered under your collision coverage.  This is covered under your comprehensive coverage.  Your collision coverage combined with comprehensive coverage are what banks and financial institutions define as “full coverage”.

Comprehensive Coverage

Comprehensive coverage covers the unfortunate events that are completely out of your control.  Theft, flood, hail, and vandalism are a few of the things covered by your comprehensive coverage.  If you were to collide with a deer or another animal on the road, this would be covered under your comprehensive coverage, and not your collision coverage.

Glass Coverage

Glass coverage is crucial in Colorado.  The gravel that is laid on the road during the winter to keep us from sliding on the icy roads unfortunately can cause chips and cracks in our windshields in the Spring and Summer.  Glass coverage will allow you to replace your windshield at little to no cost to you.