It is the law in Colorado: every motorist must carry liability coverage that kicks in when he or she causes injury in an auto accident. Even so, according to the Insurance Research Council, 15 percent of Colorado motorists are uninsured, and a great many more drive with woefully inadequate liability coverage limits.
Some drivers erroneously believe that their own standard insurance policy protects them should another motorist negligently cause them harm in a car accident in Denver or elsewhere in Colorado. But this is not always the case. To collect compensation, those Coloradoans hurt by drivers without enough coverage may have to turn to a car accident lawyer and their own supplemental uninsured/underinsured motorist policies.
Colorado Insurance Requirements
Under Colorado law, drivers are required to carry minimum liability coverage of $25,000 per person for bodily injury, $50,000 per accident for injury and $15,000 per accident for property damage. Unfortunately, these minimum amounts are rarely enough to adequately compensate victims in a serious accident. Medical bills, wages lost due to an inability to work, and a variety of other expenses can quickly pile up in the wake of a crash.
When an “at-fault driver” has no insurance or does not have enough insurance to cover all damages and recovery, injured parties may be left without sufficient compensation. Often, this means making uninsured or underinsured motorist claims against their own insurers.
Although it is very important, uninsured/underinsured motorist coverage is not required by law in Colorado, and it is not included as part of most collision and comprehensive automobile insurance policies. However, all insurance providers in Colorado must offer uninsured/underinsured motorist coverage as optional coverage, and those motorists who reject uninsured/underinsured motorist coverage must do so in writing.
At a minimum under Colorado law, the amount of uninsured/underinsured motorist protection offered must equal the insured’s bodily injury liability limits in the primary policy. Many insurers and financial experts recommend carrying at least $100,000 per person and $300,000 per occurrence in automobile liability insurance, with matching supplemental uninsured/underinsured policies.
Guard Your Right to Compensation
By definition, accidents strike without warning. But for your own peace of mind, it still makes sense to take steps to protect yourself against uninsured/underinsured motorists. If an accident does occur, contact an experienced personal injury attorney to discuss your legal options for pursuing full and fair compensation.