As a resident of Colorado Springs, you are required by law to have auto insurance if you drive an automobile on the public roads. If you get caught not having any insurance, you could incur severe penalties including getting your driver's license suspended, driver's registration suspension, fines, and time in jail for people who have more than one offense. Usually, the cost of buying insurance for your car is less than what it would cost you if you are caught driving your car without any insurance. If you do not have Colorado Springs auto insurance right now, or you are moving somewhere else in Colorado, you must make sure you are aware of financial responsibility laws to make sure you are within Colorado state law. Each state in our country has different laws that relate to insurance. By understanding the Colorado laws about insurance will help you avoid paying a lot of money in fines and tickets.
Liability Insurance:
Each state has a requirement that drivers have liability insurance in order to protect any third party drivers if they are the person who is to blame for a collision. There are two parts of liability insurance: Property damage and Bodily Injury. Bodily injury pays for injuries to another person if you are to blame. Colorado Springs auto insurance makes drivers have coverage of no less than $25,000 per individual and $50,000 for each accident as covered in your Bodily injury plan. If you cause additional injuries, you might be involved in civil lawsuits with the people who were hurt. Because of this, it is a good idea to pick higher limits if you can do this.
Property Damage takes care of any damage to a third party's property including their vehicles. Colorado requires vehicle drivers to have at least $15,000 for each wreck in this type of coverage. This limit applies no matter how many cars are in an accident. Because it costs so much to replace or repair vehicles, it is a good idea to take out extra coverage if you can do so. Colorado Springs Auto Insurance
Medical Payments Coverage:
You are not necessarily required to have this type of coverage, but Colorado insurance companies have to offer you $5000 in coverage. This insurance, also known as Med Pay, pays for any injuries to you and any passengers no matter who is to blame in the accident. If you choose to not get the plan, you must reject this in writing or sign a rejection slip.
Colorado residents also are given a chance to purchase Uninsured Motorist coverage. If you finance your car, the lender will make sure that you have proper coverage, both full coverage and collision damage policies to take care of their investment. Be sure to get a quote on a comprehensive Colorado Springs auto insurance policy with the right amount of types and limits, and you will have a policy that will make the state happy and keep you safe and protected.
