Colorado only requires motorists to carry automobile insurance coverage of $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $15,000 per accident for property damage. However, this statutory minimum may not be enough to fully protect you and your family in the event you or your family are injured.

New personal injury clients often tell me they have “full coverage” when I ask if they know their insurance coverage. The phrase “full coverage” is misleading and most clients, are surprised when I tell them their insurance policy does not cover them as well as they thought or should be. When purchasing, renewing, or changing your automobile insurance coverage you should work with an experienced insurance agent or broker who will take the time to explain to you all the different types of coverage available and why you may want to consider different types of coverage beyond Colorado’s statutory minimum.

The list below is are examples of the different types of insurance coverage you may be able to purchase and that you may want to ask your insurance agent to explain:

• Liability Coverage
• Property Damage Liability
• Bodily Injury Liability
• Comprehensive Coverage
• Collision Coverage
• Fire and Theft Coverage
• Physical Damage Coverage
• Medical Payments Coverage
• Uninsured/Underinsured Motorist Coverage
• Gap Insurance
• Rental Car Insurance

In addition to Colorado’s statutory minimum coverage, you should seriously consider adding Medical Payments Coverage and Uninsured/Underinsured Motorist Coverage to better protect yourself and your family. Medical Payments coverage will pay for your reasonable and necessary medical treatment caused by an accident. Uninsured/Underinsured Motorist coverage will pay for damages if you are the victim of a car accident and the other driver who caused the collision does not have insurance or not enough insurance to cover all your damages. If possible, you should also carry limits greater than the statutory minimum of $25,000/$50,000/$15,000, as those amounts can be quickly depleted in the event of serious injuries and/or multiple people in your vehicle are injured.

For more information about automobile insurance, the Colorado Division of Insurance has helpful guides, alerts, and tips.