You have plenty of options when it comes to shopping for auto insurance. Working with an agent gives you an advantage when you need answers to questions about your policy and help assessing your coverage needs. Working with an independent agent offers even more benefits – particularly when it comes to getting a competitive rate. As a local Erie independent car insurance agent, Scott Hopson can help you find quality coverage from leading Colorado insurance companies at the competitive rate you deserve.
Car Insurance Requirements in Colorado
Most states require drivers to carry minimum amounts of car insurance by law. Colorado is one of those states. All newly issued car insurance policies provide coverage for:
- Property damage liability
- Bodily injury liability
- Uninsured/underinsured motorist protection (unless waived in writing)
- Medical Payments (unless you opt out)
Additional coverage types are also available and generally recommended for most drivers.
Choosing Your Colorado Car Insurance Coverage
When selecting your insurance coverage, you may have the option of several different types of coverage besides those required by state law. All of them serve an important purpose and could potentially reduce your costs and losses in the event of an accident.
The mandatory liability requirements for Colorado drivers are:
- $25,000 for individual bodily injury liability
- $50,000 for total bodily injury liability per incident
- $15,000 for property damage liability
Keep in mind that these limits are simply the minimum amount you can purchase to be legally compliant with state law. They are not, however, the recommended amounts for most drivers. In fact, many Colorado policy-holders choose much higher, six-figure limits that better protect against legal fees and judgments stemming from lawsuits. If you are under-insured for liability damages, you could be responsible for paying for a victim’s lost wages, medical bills, property damages, and other expenses out-of-pocket.
Uninsured Motorist and Underinsured Motorist
If you are injured in a hit-and-run accident or by an uninsured driver, your uninsured motorist coverage can help pay for your medical expenses up to the limits in your policy. If you are injured by a driver who has too little bodily injury liability coverage to pay for your expenses, your underinsured motorist protection can help fill in the gaps.
Medical payments coverage is optional but can be purchased to provide compensation for you and your passengers’ medical bills if you are injured in an accident – regardless of fault. Insurance companies are required to offer you at least $5,000 in medical payments protection, although additional coverage may be available. This may not be enough to cover the full cost of your medical expenses, but it may be enough to pay for immediate care following an accident.
If you lease your car or finance it through a lender, your financial agreement may require you to carry collision coverage that protects the value of the asset. For everyone else, it is optional. However, we typically recommend collision coverage to all drivers who wish to protect the value of their cars against damage or loss related to an accident.
Comprehensive coverage is also recommended for most drivers, as it covers damages and losses related to non-collision events. You can generally file a claim against your comprehensive coverage if your car is stolen or you hit a deer on a rural road one night. Without it, you might be paying for the damages yourself.
Note that both collision and comprehensive coverages are subject to a deductible. When choosing your deductible, be sure to select an amount you could reasonably afford to pay should you need to file a claim in the near future. Low deductibles reduce your financial responsibility after a loss, whereas high deductibles could reduce your policy premiums.
Roadside Assistance and Towing
Don’t fret next time you have a flat tire or lock your keys in your car. Most insurance companies offer some type of roadside assistance coverage – often with 24-hour protection. Your policy can also include towing coverage to move your vehicle to the closest repair facility after an accident or other covered event.
If your vehicle is out of commission during the repair process – even for just a few days – you will need to find alternative transportation solutions. Those costs can add up, quickly adding to the overall cost of an accident or loss. That is why many Colorado drivers add coverage for rental cars, which typically pays a limited amount of money toward daily rental fees for a limited amount of days listed in your policy.
Affordable Car Insurance and Discounts
Most car insurance companies offer discounts for certain types of behaviors that reduce the risk of a loss or claim. Examples include:
- Good student discounts
- Low mileage discounts
- Safe vehicle discounts
- Safe driving discounts
- Multiple-policy discounts
- Multiple-vehicle discounts
- And more
When you choose an independent agent, you are choosing to work with someone who can apply discounts from several insurance companies and compare the savings to assure you are getting the most competitive rate on the coverage you want.
Choose an Independent Agent for Colorado Car Insurance
Scott Hopson is a local independent car insurance agent offering customers personalized coverage assessments, ongoing support, and genuine customer service. In partnership with Couri Insurance, Scott can offer his clients quotes for policies from multiple Colorado insurance companies. If you need coverage for your vehicle, contact Scott Hopson for your free quote today.