Colorado law requires a minimum of $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $15,000 per accident for property damage liability for auto insurance. Uninsured/Underinsured motorist liability is also required, with an amount that is equal to your bodily injury limits. If your bodily injury is at $25,000 per person, then your uninsured/underinsured motorist liability will also be at $25,000. Check with your auto insurance company to understand the details of coverages they offer. All coverages are limited to any terms and liabilities of your auto insurance company.

Bodily injury liability: If you are at fault in an accident, bodily injury coverage will cover the other party’s injuries, death, loss of wages, and pain and suffering costs. However, it does not cover the injuries, death, loss of wages, and pain and suffering costs of you or anyone else on your policy. You will need to purchase Medical Payment coverage for your policy or your own health insurance if you want coverage or yourself and dependents. In the event you are sued by the other party, this coverage will also cover the expense of you auto insurance company representing you in court.

Property damage liability: When you cause accidental damage to another person’s property, be it a car, fence, pole, wall, etc, with your vehicle, property damage liability will cover those costs. It will also cover any legal costs that may ensue from the accident. Any additional costs over your coverage amount could leave you paying for repairs out of pocket.

Uninsured/Underinsured motorist coverage: In the scenario you’re in an accident and the other driver, who is at fault, does not have auto insurance, uninsured/underinsured motorist coverage will cover you, passengers in your car, and any of your dependents for your medical expenses, pain and suffering, loss of wages, and funeral expenses up to the limit you purchased for your policy. If you do not have health insurance, this particular coverage is especially beneficial for you.

Colorado operates under a tort auto insurance system, meaning the at-fault driver and their auto insurance company are responsible for medical expenses and awarding additional damages to the other driver. As of January 1, 2009, Colorado insurers will be required to offer you $5,000 in Medical Payments coverage, which will go towards paying for any future medical expenses caused from an accident. Your premium will increase, but you have the choice to opt out by contacting your auto insurance company and declaring so.

In the state of Colorado there are penalties for driving without proof of insurance. If you are pulled over by a state officer, you will need to provide this proof. Without evidence of having insurance, for your first offense, you’ll not only be fined a minimum of $500, but you’ll also have four points added to your motor vehicle record. This will significantly increase your auto insurance rates. Your second offense will get you a minimum fine of $1,000 and your license will be suspended for four months. The third offense warrants community service, a minimum fine of $1,000, and your license will be suspended for eight months. Always have your proof of insurance with you when you drive to avoid this circumstance.

Colorado Auto Insurance Requirement Chart:

• Bodily Injury Liability: $25,000/$50,000 Limit
• Property Damage Coverage: $15,000 Limit
• Uninsured/Underinsured Motorist Liability: $25,000/$50,000 Limit

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