Colorado Car Insurance
In the state of Colorado, it is mandatory to carry liability insurance on your car at all times. Liability insurance covers only the other person and other property; it does not cover you or your car. The minimum liability coverage you must have is $25,000 per person, $50,000 per two or more persons in any one accident, and $15,000 in property damage coverage. Because of the recent repeal of Colorado’s no-fault insurance law, motorists are no longer required to purchase personal injury protection. For the average driver over 25 years of age, insurance could cost $200.00 or more every six months.
Under the old no-fault law, motorists were required to carry Personal Injury Protection (PIP) in addition to the types of coverage listed above. With the repeal of PIP, many insurance agents are encouraging consumers to purchase “Medical Payments Coverage” or “Med Pay.” Med Pay provides benefits to you and injured passengers in your vehicle regardless of fault, but usually with fewer benefits than the old PIP law. While this may be a coverage you wish to purchase, first check to see if your health insurance will pay your medical bills sustained in an automobile accident. Many consumers have purchased Med Pay coverage to provide coverage to their passengers who may or may not be covered by their own health insurance policies. If you do not have health insurance, then you should consider purchasing Med Pay coverage.
If you finance your car, you must carry full coverage (which includes comprehensive, collision, liability, and other options you might wish to include such as rental reimbursement, towing reimbursement, etc.) until the lien is no longer in effect. A lien is placed on the car when someone has loaned you money to purchase the car so the title is not in your name but in the name of the person/entitiy who has actually paid for it.
In order to get the best insurance prices around, you must shop. Be sure to call several different insurance companies and ask them to give you price quotes. The best way to find insurance companies is to look in the yellow pages under Automobiles (Insurance). There are many companies with many different prices, so plan on spending a some time on the phone with the companies and comparing what they have to offer.
The insurance company will ask you many questions about you and your driving history. This information includes type of car, VIN (Vehicle Identification Number, found on driver’s side below the windshield wiper on the outside and on your vehicle registration), age, marital status, previous record, distance you drive each day, etc. All these questions help the agent decide what type of insurance you need.
It is your responsibility to ensure you have the type of coverage you need. You must carry proof of insurance at all times when operating your vehicle. Should you be stopped by a police officer, if you do not have evidence of insurance in your vehicle and you are not listed in Colorado’s automobile insurance database as having insurance, your license is subject to confiscation and suspension. Evidence of insurance includes the insurance company name, policy number, date of expiration and vehicle covered.
Insurance providers in the Denver Metro Area
Farmers Insurance Group: http://www.farmers.com/ State Farm: http://www.statefarm.com/ 303-782-0117 2430 S.University Blvd. 303 777 3005 2335 E.Evans 303-504-4455 1400 S.Colorado Blvd. 303 321 9560 210 Clayton Place 303 388 4400 201
UniversityProgressive: http://www.progressive.com/1-800-776-4737 or 303- 824-6600 3773 Cherry Creek
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