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More than 16% of Colorado Drivers Are Uninsured

Posted on December 20, 2015 in

More than 16% of Colorado Drivers Are Uninsured

About 1 in every 6 motorists in Colorado – or roughly 600,000 Colorado drivers – does not have auto insurance coverage, according to the Insurance Research Council (IRC). This puts Colorado at number 9 in the nation for the most uninsured motorists.

Trends in Uninsured Motorists in Colorado

Interestingly, being ranked at number 9 for the most uninsured motorists in the nation is actually an improvement for Colorado, as the IRC has noted that:

  • In the 1990s, between 30 and 40 percent of Colorado drivers did not have auto insurance – This put Colorado at number 1 for the most uninsured motorists in this decade. While various factors contributed to this high rate of uninsured drivers in the state, researchers largely attribute the trend to higher premiums in the state during the 1990s due to the no-fault insurance system.
  • Although Colorado dropped out of the top 10 states for uninsured motorists by 2005, by 2009, the trend started reversing again, with more motorists in the state foregoing insurance – Researchers are still looking into what has sparked this trend, as the usual causes (e.g., rising unemployment rates, rising gas prices, etc.) did not seem to be factors.

Collisions Caused by Uninsured Motorists

Regardless of why drivers in Colorado are foregoing auto insurance coverage at such high rates, the fact remains that these uninsured motorists can present a problem on the road, as:

  • Researchers suspect that uninsured motorists also tend to be reckless drivers and that the high rates of hit-and-runs in the state may be correlated with the high rates of uninsured drivers.
  • Uninsured drivers can leave traffic accident victims with few options for financial recovery after crashes happen.

In these situations, however, having uninsured/underinsured motorist (UM/UIM) coverage can be the key to financial recovery. That’s because UM/UIM coverage can provide accident victims with compensation for their crash-related damage and losses.

UM/UIM Claims: A Caution about Dealing with Insurers

While UM/UIM coverage can be indispensable following an accident caused by an uninsured motorist (or following a hit-and-run), it’s important to also understand that:

  • Insurance companies are not typically looking out for accident victims.
  • This means that insurers can be inclined to low-ball offers – or possibly even act in bad faith with claims – in an attempt to protect the company’s profits.
  • Retaining an attorney to deal with insurance companies following a crash can be pivotal to protecting entitlements to financial recovery.

Contact Lakewood Car Accident Lawyer James L. Finegan

Have you been injured in an auto accident? If so, Lakewood Car Accident Lawyer James L. Finegan is here for you, ready to help you advocate your rights to justice and compensation.

Learn more about your rights and legal options during a free, no obligations case evaluation with Attorney James L. Finegan. To schedule this meeting, call (303) 980-5511 or toll free at (888) 980-5511. You can also send an email via the contact form on this page.

From offices based in Lakewood, CO, James L. Finegan, P.C. provides superior representation to clients throughout Jefferson County and the state of Colorado, including those in Denver County, Arapahoe County, Douglas County, Adams County and the Colorado Front Range region.