Auto Insurance Requirements in Colorado
Proof
of financial responsibility is important when operating a vehicle. Auto
insurance provides this assurance that drivers or owners of vehicles can pay if
the vehicle is in an accident. Knowing driving laws and insurance laws are
recommended to obtain the best deal available.
Insurance Fraud in Colorado
According
to the Coalition Against Insurance Fraud (CAIF), auto insurance fraud costs
$12.3 billion annually. The cost is distributed in each customer’s premium. The
most common type of insurance fraud consists of staged accident rings. Con
artists can make accidents appear like the unsuspecting party's fault. These
rings may involve repair shops, tow truck companies, law offices, and health
care facilities. Recently, several suspects were indicted in a Colorado auto
insurance fraud ring. There were falsified estimates and also several
fraudulent claims. Several students were involved in the registration process
of the vehicles used in the false insurance claims. There were $460,000 false claims filed.
Alcohol-Related Accidents in Colorado
Colorado
had 16,700 crashes annually in which a driver had a BAC over 0.10, and there
were 17,600 crashes that involved alcohol. The impaired crashes killed 232
people and injured another 3,900 people. Males are four times more likely to
die in alcohol-related crashes. Alcohol-related crashes cost the public
approximately $1.1 billion. The average fatality related to alcohol in Colorado
costs approximately $3.5million.
Unique Driving Laws in Colorado
In
Denver, you cannot drive a black car on Sunday. It is also illegal to store an inoperable
car on a private property.
Did You Know? Unique Facts About Colorado
Driving
Did
you know that if you park less than two feet from another person that you will
have to pay a fine? This little known fact is enforced in Westminster,
Colorado. Also in Westminster, Colorado, it is illegal to get lost between 9
A.M. and 4 P.M. It is also against the law to allow someone driving your car to
get lost or to allow a work crew to leave in more than one vehicle in a residential neighborhood.
Colorado Car Insurance Facts
Drivers
Must Have Liability Coverage. The minimum coverage required in Colorado
is $25,000 in bodily injury payments and $50,000 for all people injured in an
accident that is caused by an at-fault driver. There should also be $15,000 for
property damage. Higherprotection limits are
recommended, but it is not necessary. Colorado Auto Insurance
Discounts. Colorado requires insurance companies to offer discounts to
drivers. The discounts are awarded to people who complete a driver safety
education course. The discount is valid for three years if the course is
approved by the ColoradoDepartment of Motor Vehicles.
Auto Insurance in Colorado
Obtaining auto insurance in Colorado is mandatory and more
affordable with discounts. Every Colorado resident should identify a reputable
insurance company and agent to obtain the best insurance available.