The minimum requirement every driver in Colorado must have is third-party insurance cover. Third-party insurance covers the damages and losses an injured victim incurs after a motor accident. Driving an uninsured motor in Colorado is categorized as a Class 1 Misdemeanor and attracts penalties. These include a 12-month jail term, 40 hours of community service or fines of up to $1000. There is a lot you should know about uninsured motor laws in Colorado.
What is Uninsured Motor Insurance?
Carrying uninsured motorist insurance saves the situation when you’re hit and injured by an uninsured driver. The insurance salvages your situation, enabling you to pay for damages and hospital bills as you wait for compensation from the at-fault driver. The most surprising fact is that 16.2 % of Colorado motorists don’t have insurance.
Uninsured motorist coverage covers the expenses and saves you the financial and emotional drain after an accident. The mandatory uninsured Colorado motor laws in Colorado require meeting the following terms:
- $15,000 catering to property damages after an accident
- $25,000 covering death or a bodily injury after an accident
- $50,000 covering death or injury to everyone involved in an accident
How Does Colorado Uninsured Motor Insurance Work?
Uninsured motorist insurance covers are supplementary clauses in your motor insurance policy. They come to cover your costs when the driver at fault does not have insurance cover. It’s basically an optional insurance cover, so you can buy it at will.
Remember that uninsured motorist insurance in Colorado works similarly to the at-fault driver’s insurance coverage. It would cater to the damages and costs similarly to the at-fault driver’s insurance. It will cater to the compensation needs of the car driver regardless of the car they were in at the time of the accident. The insurance policy also caters to the costs and damages of the uninsured driver.
The Colorado state requires that the covered amount be equal to or higher than the insured motorist’s bodily injury insurance coverage.
Legal Specifications on Uninsured Motorist Insurance
Colorado state laws indicate that insurance providers must not lower the uninsured motorist coverage. When you file a claim to compensate for the accident damages and losses, the insurance provider must offer compensation equaling the insured bodily injury coverage.
In other words, if you get injured in an auto accident and incur lost wages, your uninsured insurance provider must not offer you a lower amount than you deserve. That is regardless of whether the driver at fault has insurance coverage or not. Suppose the insurance provider of the driver at-fault covers half of the injuries and costs, and your uninsured insurance kit has enough to cover the remaining amount. In that case, your insurance company should cover the remaining amount. When handling an accident caused by an uninsured motorist, work with an experienced personal injury attorney.
Colorado has its own rules and laws that regulate the application of uninsured motor insurance policies. Understanding these laws will save you a great deal when you are in a situation requiring an uninsured insurance application.