The attorneys at The Gold Law Firm are highly knowledgeable and familiar with the various automobile insurance laws in the state of Colorado. While some claims are easier to resolve legally, there are often claims which cross over a few disciplines and must be handled accordingly. This requires familiarity with the different automobile insurance laws in order to get the best results for our clients.
The Colorado automobile insurance laws require drivers to carry a certain amount of insurance policies. There are several different types of liabilities and minimum limits that every driver must obtain.
Bodily Injury Liability
This coverage will cover you if you cause an accident and someone else is injured. While Colorado requires limits of $25,000 per person and $50,000 per accident, financial experts usually recommend that drivers carry substantially more insurance. A single head injury can easily cost $40,000 in medical expenses and disabilities. Experts recommend a minimum of $100,000 per person and $300,000 per accident to ensure that you are adequately covered in the case of a catastrophic accident.
Property Damage Liability
This covers you in case you accidentally damage someone else’s property with your automobile. In most situations, this usually covers damage done to another person’s vehicle. A $15,000 limit is all that is required by Colorado law. If the damage done to another person’s property exceeds this amount, you may find yourself inadequately covered and responsible for the remaining amount.
Uninsured or Underinsured Motorist Insurance
This covers any expenses that may occur if you are involved in an automobile accident with an uninsured or underinsured driver. The minimum limits are the same as Colorado’s minimum liability limits ($25,000/$50,000). Drivers can purchase additional coverage to increase their security in case they are injured by an uninsured driver.
Collision and Comprehensive Insurance
Collision insurance covers any damage to your car after an automobile accident. Comprehensive insurance covers any damage to your car if it is stolen or damaged in any other way besides a collision (weather damage, falling objects, wildlife encounters etc). While these insurances are not required by law, many banks require it, especially if you have an auto loan.
Colorado insurance laws can be difficult to navigate and interpret. As a result, it is important to contact an experienced Colorado personal insurance attorney if you are injured in an accident. Your attorney will be able to review your insurance policies and negotiate with insurance companies to ensure that you receive all the compensation you are entitled to.
Contact our Denver Insurance Dispute Attorneys
If you or someone you love was injured in an accident or as a result of the negligence of another you will need an experienced Colorado personal injury attorney to handle your case. Contact attorney Gregory A. Gold of the Gold Law Firm today for a free consultation at (303) 694-4653.