Car driving in fog

What Are Colorado's Minimum Auto Insurance Limits?

Car accidents happen all the time, which is why states mandate drivers to obtain car insurance policies. While all states ask drivers to maintain insurance policies, every state ascribes to its own laws regarding minimum insurance requirements. Today, Springer & Steinberg will review the minimums in Colorado.

$25,000 Bodily Injury Liability Per Person

Bodily Injury Liability (BI) insurance covers drivers when they cause car accidents which result in injuries to others. Therefore, if a Colorado driver hits another driver carrying a passenger, state law says the at-fault driver’s insurance may have to pay up to $25,000 in damages to each injured person, in this case, the driver and the passenger.

However, Colorado also requires a $50,000 BI minimum per accident.

$50,000 Bodily Injury Liability Per Accident

While Colorado requires a $25,000 BI per person, it also requires a $50,000 BI limit per accident. If a driver has the minimum BI limit per accident as mandated by Colorado, his or her insurance will only pay out a maximum of $50,000 for bodily injuries for a single accident.

Therefore, the per accident BI limit trumps the per person BI limit. For example, if three people have injuries that equal more than $50,000 combined, the insurance provider will stop paying out for injuries once the $50,000 limit is reached, even if the per person BI limit isn’t maxed.

Finally, Colorado requires drivers to obtain a minimum of $15,000 of property damage liability.

$15,000 Property Damage Liability

Property damage liability pays for damages to other people’s property. Therefore, if drivers crash into someone else’s property, they are covered for up to $15,000 of damages if they have Colorado’s minimum insurance requirement.

What if Damages Exceed Limits?

If you or a loved one is injured in an accident, it’s smart to talk to a personal injury attorney about your case. An attorney can estimate the worth of your damages and may be able to seek justice on your behalf, even if the losses exceed insurance limits.

Injured in an accident? Call (303) 861-2800 for a free consultation for your case!

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