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Commentary and Analysis Regarding Colorado Law

Are You Putting Yourself At Risk By “Saving” On Your Car Insurance?

According to statistics compiled by the Center for Disease Control, the number one cause of death due to unintentional injury is motor vehicle accidents.  Likewise, motor vehicle accidents are the fourth leading for emergency room visits resulting from unintentional accidents.

Across the United States, 1 in 7 drivers are uninsured.  Colorado falls in line with that statistic.  In addition, Colorado requires only that a driver purchase $25,000 in liability coverage.  The odds are good in Colorado that, if you are involved in an auto accident, the at-fault driver is going to be uninsured or have the minimum limits of coverage.  Even a moderately serious accident can result in well in excess of $25,000 in damages.  An ambulance ride to the emergency room, follow-up care with your physician, lost wages and other expenses can add up quickly.

So what’s a person to do?  Colorado law requires that an auto insurance company offer to sell a driver as much uninsured/under-insured motorist coverage as that person buys in liability coverage.  That coverage is available to an injured party when the liability limits of the at-fault party are exhausted.  However, Colorado law allows a driver to waive that coverage in writing.  In spite of the very serious financial problems that can result from an auto accident, drivers often seek minimum coverage or waive the coverage altogether to save a few dollars.

If you don’t know what amount of coverage you have, or whether it’s enough, call your agent and ask.  A good agent should be more than willing to give you a quote for any level of coverage.  You can also compare prices on line.  Don’t wait until it’s too late to find out if you have enough coverage.

If you have questions about your insurance coverage, automobile accident or other injury claim, please contact an attorney at Lyons Gaddis Kahn Hall Jeffers Dworak and Grant, PC.

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