The residents of Colorado are required to carry the auto insurance so that they can ride their vehicles on the public roads. If you have the minimum required coverage for your vehicle to satisfy the state laws, it is wiser to have knowledge on the additional optional coverage for your vehicle that may be beneficial to you. This extra coverage of Colorado Springs auto insurance will bring you peace. The following is the brief description of the coverage and the limits to help you understand how it works.
Liability Insurance (BI/PD)
This is the only cover that the state of Colorado requires the auto owner to carry. It is meant to cover the third party for the losses and damages caused to him by your vehicle. The state minimums are 25,000 dollars per person, 50,000 dollars per accident for Body Injury and15, 000 dollars for Property Damage. You will be subject to risk for financially damaging lawsuits if you do not assess your assets and increase the limit of the coverage adequately.
Uninsured Motorist (UM/UMPD)
This type of insurance coverage covers you and your family if you and your family get injured by the third person's vehicle who may not carry the required insurance. This cover reimburses all the expenses and damages caused to you and your family as well as your vehicle by the third person. This cover is not mandatory by the state of Colorado but it is beneficial for you in the event you and your family get injured in the accidents.
Medical Payments (Med Pay)
Medical Payments will reimburse you and your passengers injuries up to the limits stated on the policy. Though it is not required in Colorado but it is advantages to carry this cover that reimburse the expenses of the injuries and other medical expenses no matter who is at fault in the accidents. It is recommended to carry high limit of coverage for your benefit.
Policyholders also have the option to have Comprehensive and Collision coverage for their vehicle. Choose the policy that offers the maximum coverage at the most affordable price. A thorough search will surprise you about the economic ways of getting high cover for your auto insurance needs in Colorado.
