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Like other states in the union, the state of Colorado requires drivers to have auto insurance in order to be licensed to drive a car. But not only does the state require auto insurance, Colorado law also requires specific coverage amounts for an acceptable insurance policy and licensure. Here is a brief rundown of what the state demands.
- Minimum Coverage for All Drivers — Every driver in the state of Colorado, no matter the age of the driver or the car that the driver operates, must carry bodily injury liability and property damage liability. Minimum coverage is $25,000 per person for bodily injury and $50,000 per occurrence. Practically, this means that the insurance company will pay up to $25,000 per person involved in an accident but no more than $50,000 total for all the people involved in the accident. Property damage liability coverage is a minimum of $15,000 per accident. Drivers can and may want to purchase higher coverage, but state law does not require it.
- Comprehensive and Collision — State law in Colorado does not require drivers to have comprehensive and collision coverage to get a driver’s license, however, most banks that hold a lien against a car will require the driver to have comprehensive and collision insurance in order to get a car loan. This type of insurance covers the loss to the driver’s vehicle in the event of an accident, whether the loss is theft of the car’s contents, damage due to a collision, or so forth.
- Uninsured Motorist Coverage — In Colorado, drivers may refuse to buy coverage for damage done by uninsured motorists, but they must do so in writing.
- Medical Payments Coverage — Colorado requires insurers to offer at least $5,000 worth of extra medical payments coverage to insured drivers, but drivers do not have to purchase it in order to be licensed to drive.