Colorado drivers are required to carry auto insurance on their vehicle to legally drive in the state. Disregarding this law is a crime and violators face a slew of consequences if found in violation of this law. This includes suspension of the vehicle registration and driving privileges, in addition to fines and other penalties. Colorado law requires that drivers carry a policy known as a 25/50/15 policy. This policy includes $25,000 in Bodily Injury coverage for one injury with a $50,000 cap for all injured parties in the accident. There is also $15,000 in property damage coverage required with this policy.
Optional auto insurance is available to drivers who want added protection when they drive their vehicle. Optional insurance covers costs of damage to your personal vehicle; state-required coverage does not. If you lease a car from a dealership in the state of Colorado, the insurance may be required by your loan provider. Optional auto insurance includes collision and comprehensive, which are usually sold together; uninsured/underinsured motorist coverage; MedPay coverage; and Roadside Assistance coverage.
Proof of insurance must be shown when registering a vehicle for the first time and each year when it is time to renew the vehicle registration. The Colorado Department of Motor Vehicles (DMV) also requires drivers to carry proof of coverage in their vehicle at all times, presenting documentation of such when requested by a law enforcement official or after involvement in an auto accident. Proof of insurance coverage must be provided after an accident, regardless of who is at fault.
Valid proof of insurance that drivers can show to the DMV when registering or renewing their vehicle and to show law enforcement include the insurance identification card provided by the auto insurer, a copy or fax of the insurance policy, email from the insurance agency, or a digital screenshot of the policy. Most drivers place one of these items inside of the glove box in their car so that it is easily accessible whenever it is needed. Drivers must carry only one form of proof in their vehicle, but any of these options will suffice the need.
Why is insurance so important that it is required by the state? Auto accidents are very serious. They cost insurance companies, the state, and of course, the parties involved in the accident. Without insurance, the costs of the accident (damages and injuries) are the responsibility of the at-fault driver to pay. Most people do not have such considerable sums of cash lying around to handle such an expense. Auto insurance Thornton CO eliminates that worry and ensures that an auto accident doesn’t turn life upside down.
It is easy to compare costs of auto insurance coverage with several companies before purchase. Just request an estimate or use one of the online tools to make the comparisons. Since no two companies charge the same rates for coverage and many factors influence those rates, it is essential to compare if you desire the best prices for insurance.