Auto Coverage in Colorado
Colorado Auto Insurance
As in most other states, Colorado drivers are required to carry proof of liability coverage in their cars at all times. They also must show proof of insurance before they can register a car or other vehicle.
Colorado minimum auto insurance
Colorado drivers are required to have the following minimum coverage:
- Bodily Injury and Death: $25,000 to cover one person in any one accident, and $50,000 to cover all injuries
- Property Damages: $15,000
Colorado doesn't require other types of coverage such as uninsured motorist coverage, but many drivers purchase further insurance in order to protect their investments and finances in case of an accident.
Penalties without Colorado auto insurance
Drivers who are pulled over by a police officer must show their proof of insurance. If they don't have insurance, they will face a penalty at minimum of $500 and also receive four points on their driving records.
Colorado also follows a tort law that in case of an accident, one of the drivers must be found at fault for causing the accident. That person and their insurance company is responsible for all the damages such as paying victim's medical expenses, damage to their car, or loss of wages.
Having uninsured motorist coverage can help you, in case you are at fault in an accident against another driver who doesn't have coverage.
In addition to Colorado, 37 other states also have a similar tort system, while 12 states have insurance laws where no one needs to be at fault in an accident. Colorado once had a no-fault law that expired in 2003.
Cost of Colorado auto insurance
The average premium insurance cost for Colorado residents in 2009 is $1,665, lower than the national average of $1,780.