In Colorado, it is required that you carry automobile insurance if you are operating a motor vehicle. There are many consequences that can be very extreme if you do not follow the law and purchase the required state minimum coverage. The minimum coverage for Colorado is $25,000 for each person for bodily injury, $50,000 for each accident for bodily injury, and at least $15,000 for each accident for property damage coverage.
First, let’s say you are speeding and a police officer pulls you over. He will ask to see your license, registration and your insurance card. If you don’t have your insurance card in your vehicle, or if you are not covered, you will be given a ticket. If you repeatedly get stopped and caught without insurance, you could end up losing your license or even paying a minimum fine of $1,000!
In the next scenario, let’s say you are at fault for a car accident that injures both you and the other party involved. If you are not covered by car insurance, you will be required to pay for the repair of the other party’s vehicle, their medical bills, your medical bills, and any repairs needed on your vehicle.
Avoiding just these two scenarios can help you to avoid major financial troubles, keep your license, stay out of legal trouble, and help to keep your health, and your wellbeing protected from automobile accidents. Adding other coverage options to your plan, like medical payment, comprehensive and collision, and uninsured motorist coverage can all help you to save even more money in the event of an accident or even a theft or damage to your vehicle not related to an accident.
So get covered by at least the minimum Colorado insurance coverage limits, and keep your future safe.