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Our Lakewood, Colorado insurance agents understand how difficult it can be to shop around for insurance plans that fit your needs and the state requirements. To make your research a little easier, the following list compiles the minimum auto coverage requirements for a safe and secure drive through the Rocky Mountain State:
- $25,000 per person for bodily injury
- $50,000 per accident for bodily injury
- $15,000 per accident for property damage
- $5,000 medical payments coverage (effective January 1, 2009)
Although these Lakewood auto insurance policies include the minimum coverage areas, that doesn’t mean they are the only area where drivers are at risk. Collision coverage is one such coverage option that isn’t mandatory, but highly recommended. This type of coverage would keep you financially protected in case your car needed repairs after an accident with another vehicle, wall or another object.
Colorado comprehensive coverage is another option that would keep your car protected under a variety of potential accidents, including theft, hail damage, fire, natural disasters, falling objects and so on. If you have an auto loan on your vehicle, your loan providers may require this coverage and others above the minimum for Lakewood, Colorado. Make sure to discuss this with your loan provider before committing with an insurance policy.
Thinking about short-changing the minimum? Think again! Failure to obtain the minimum insurance requirements can result in:
- First offense- minimum fine of $500, four points added to your driving record and even suspension of your license.
- Second offense- minimum fine of $1,000 and suspension of at least four-months.
- Third offense- minimum fine of $1,000, community service requirement and an eight-month suspension.
Contact us to speak with an independent agent about your unique questions and concerns. We’ll work with you as long as necessary to make sure you get the coverage you need at an affordable cost.