When you get injured in an auto accident, in most cases filing an insurance claim will be your primary means of financial recovery. Whether you have a claim against an at-fault driver or you need to file a claim under your own insurance policy, you will most likely need to deal with the insurance companies in order to recover your losses.
Mandatory and Optional Auto Insurance in Colorado
In Colorado, all drivers are required to carry a minimum amount of auto insurance coverage. Drivers can purchase additional coverage, and many – though certainly not all – choose to do so. So, what is required in Colorado, and what is optional? Here is an overview of Colorado’s mandatory auto insurance laws:
Bodily Injury Liability (BIL) Insurance
All Colorado drivers are required to carry bodily injury liability (BIL) insurance with minimum coverages of $25,000 per person and $50,000 per accident. This insurance provides coverage for accident victims’ injuries when the insured driver is at fault in the collision. Higher coverage limits are optional. For example, it is common for individuals to purchase BIL insurance with limits of $100,000 per person and $200,000 per accident.
Property Damage Liability Insurance
Colorado law also requires all drivers to carry a minimum of $15,000 in property damage liability coverage. This coverage insures against vehicle damage and damage to other items of personal property; and, similar to BIL, additional coverage is optional.
Medical Payments Coverage (Med Pay)
When you buy auto insurance in Colorado, $5,000 in medical payments coverage (Med Pay) will automatically be added to your policy. You have the option not to purchase Med Pay, but you must expressly opt out in order to do so (you can also purchase additional Med Pay coverage). Med Pay, formerly known as personal injury protection (PIP), provides no-fault coverage for medical expenses regardless of who was to blame in a collision.
Uninsured/Underinsured Motorist (UIM) Insurance
Under Colorado law, your insurance company is required to offer you uninsured/underinsured motorist (UIM) coverage with the same limits as your BIL policy. You do not have to purchase UIM coverage; however, due to the risks of being severely injured in an accident involving an uninsured or underinsured driver (or a hit-and-run accident), purchasing UIM coverage is a good idea if you can afford it.
What Should I do if I Have Been Injured in an Accident?
If you have been injured in an accident in Colorado, it is important to start the insurance claim process as soon as possible. You should report the accident to your insurance company regardless of who you believe was at fault; however, you should not give a recorded statement or discuss any of the details of the accident until you speak with an attorney. For more tips and mistakes to avoid, you can read: Injured in a Car Accident in Denver? Here’s What You Need to Know.
Speak With a Denver Personal Injury Lawyer for Free
If you would like more information about Colorado’s auto insurance laws or what to do after a car accident in the Denver area, we encourage you to contact us for a free initial consultation. To speak with an attorney in confidence, please call 303-333-8000 or inquire online today.