Colorado Auto Insurance - (CO)

Consumers know that they need auto insurance to protect them in case of an accident. But consumers also should realize that no two policies are the same, which is especially the case when we move from state to state. Remember that insurance laws change when you switch jurisdictions, which can alter coverage for liability, property damage, mandatory minimums and required documentation. When preparing for a move across state lines, or even when considering a new policy, make sure you are aware of your state’s auto insurance regulations.

Auto Insurance Regulations in Colorado

• All registered vehicles must be insured: In Colorado, you can’t even register your car until you can prove that you have insurance first.
• You must carry proof of insurance at all times in the vehicle: The state of Colorado takes this seriously. If you’re pulled over and cannot prove that you have liability insurance, you run the risk of a minimum $500 fine, and four points placed on your motor vehicle record, which will almost certainly cause your premiums to change. But it gets worse if you get caught twice without proof of insurance: a second offense brings with it a minimum $1,000 fine plus a four-month suspension. A third violation also has a $1,000 fine, an eight-month suspension, and likely community service.
• Minimum liability insurance is required: For Colorado, the minimum s are $25,000 for injury of one person and $50,000 for injury of more than one person; and at least a $15,000 property damage maximum for one accident.
• Exemptions are available: If you are living out of state seasonally, or serving in the military, you may be eligible for an exemption to the mandatory insurance law. See the Department of Motor Vehicles for more information.

Consumer Tips

No matter where you live or the specifics of your policy, remember that your state requires minimum coverage. Most consumers opt to exceed their state’s minimum standards for more complete coverage. In Colorado, for example, $15,000 is the state’s required liability coverage for property damage. But most insurance experts say this amount should be raised significantly — up to $1 million.

Know that the liability coverage you have is the maximum amount your insurance company will cover. If you’re deemed liable for more than your coverage, you are responsible for the difference.

Smart consumers receive competitive insurance quotes and compare the policies offered to them.

Department Of Colorado (CO) State Government That Regulates Car Insurance:
Web Site: www.dora.state.co.us/insurance
Email: insurance@dora.state.co.us

How To Contact Directly:
The Colorado Dept. of Insurance
1560 Broadway, Suite 850
Denver, CO 80202
Phone: 1-303-894-7499
Toll Free: 1-800-930-3745
Fax: 1-303-894-7455

Colorado (CO) Mandatory Auto Insurance Minimums

• Liability: 25/50/15 = Bodily Injury Individual/Bodily Injury Total Per Accident/Property Damage
• Regulations Regarding Proof of Insurance: Proof Required - When Obtaining Registration, If Involved In An Accident, If Stopped By Authorities When Driving
• Penalties For Not Carrying Mandatory Insurance: Fine up to $500

How To File A Complaint About An Insurer:

For Questions About Insurance
Call The Consumer Information Section
Phone : 1-303-894-7490