Colorado Car Insurance

coloradoColorado Car Insurance

The state of Colorado is pretty strict when it comes to financial responsibility laws for drivers. Anyone looking to register a vehicle within the state must have automobile insurance – period. Like most states, Colorado law dictates the minimum amount of coverage each driver must carry and CarInsuranceReviews.com has all of the information you need to ensure you’re getting the best coverage possible.

Minimum Car Insurance Requirements in Colorado

All vehicles registered for use on land in the state of Colorado must have insurance coverage, as should boats and private planes. These requirements extend not only to cars, but to ATVs, go-karts, and snowmobiles as well.

Colorado law states that you have two options when it comes to proving financial responsibility in the event of an accident. The first option is self-insurance but only applies if you own more than 25 vehicles. Otherwise, you simply must purchase a state-approved automobile insurance policy.

All states require minimum levels of liability coverage to protect other drivers against harm you may cause if you are responsible for causing an accident. Colorado mandates a minimum of $25,000 per person and $50,000 per accident in bodily injury liability coverage as well as $15,000 in property damage liability.

While these limits are higher than the majority of states, they are still considered incredibly low. A catastrophic car accident, especially one involving death or permanent disability, could result in liability expenses far above the minimum limits very quickly. Ask your car insurance agent for information about the costs of increasing these coverage options.

In January of 2009, the state of Colorado passed a law requiring all drivers to carry at least $5,000 in medical payments coverage as well. This coverage is designed to pay for your medical expenses regardless of who was at fault for an accident. The idea is to make sure that first responder and emergency room bills can be paid promptly after an accident occurs.

Penalties for Failure to Prove Coverage

The state of Colorado considers driving without insurance a misdemeanor offense. The punishment you receive as a result will vary depending on how many times you violate the law. First time offenders will receive a minimum fine of $500, will receive a 4-point driving violation, and may receive a license suspension. On your second offense, the fine increases to a minimum of $1,000 and your license will automatically be suspended for four months. Your third offense also carries a minimum fine of $1,000, will require you to complete some community service, and automatically comes with an eight month license suspension.  As you can see, the cost of driving without car insurance is almost as high as simply purchasing a policy – sometimes higher!

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