How much insurance you need vastly differs from the minimum Colorado car insurance requirements. If you want to ensure that you have enough insurance coverage in the event of a serious car accident, it is best to purchase more than the minimal limits. Without the right amount of car insurance, you could find yourself paying out of pocket for medical expenses, lost wages, and long-term care after a serious car accident.
Types of Car Insurance in Colorado
In the state of Colorado, all drivers are required to purchase liability insurance. According to the Department of Motor Vehicles, Colorado law requires the minimum amount of liability insurance:
- $25,000 per person for bodily injury
- $50,000 per accident for bodily injury
- $15,000 per accident for property damage
As you can imagine, those limits are rather low. Most vehicles these days are well over $25,000 and if you were to significantly damage a newer car then you could owe more than the limits on your insurance policy. Likewise, injury accidents can easily result in hundreds of thousands of dollars in medical expenses.
Most insurance agents will recommend that drivers purchase more liability protection. Increased coverage doesn’t always cost much and you can offset those costs by raising your deductibles.
Other Types of Insurance You Should Purchase
While Colorado law doesn’t require them, there are additional insurance coverages you may want to consider purchasing. Some of those include:
- Personal injury protection insurance
- Uninsured/underinsured motorist coverage
- Collision insurance
- Comprehensive insurance
When it comes to PIP insurance, you probably don’t need that much – especially if you have health insurance and disability insurance through your employer. The minimum amount should be sufficient. You will want to ensure that you purchase UM/UIM motorist insurance to protect you in case you are injured by an uninsured or underinsured driver. You should also raise the limits of your liability insurance as well to completely protect yourself if you are at fault in an accident. When it comes to collision insurance, consider the worth of your vehicle and how much it will cost to repair it. If you drive an older vehicle, you may choose not to purchase this type of insurance.
Contact Our Pueblo Car Accident Lawyers
If you are injured in a car accident, it is important to contact an experienced and skilled Pueblo car accident attorney immediately. Your attorney will be able to review your accident and help you file the necessary claims to receive the compensation you deserve. The law is on your side – but you can’t delay. Call Pueblo attorneys at Smith & Smith, today for a FREE CONSULTATION – (719) 544-0062.