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.
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.
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. Higher protection 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 Colorado Department of Motor Vehicles.
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 more than 26,000 people are arrested for DUI and over 150 people are killed in alcohol-related traffic crashes -- more than one-third of all auto related accidents in the state.
Males are more likely to die in alcohol-related crashes. Alcohol-related crashes cost the public approximately $1.1 billion.
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.