Colorado Auto Insurance Requirements

Whether you’re looking for a new auto insurance policy in Colorado, or are just now moving to the Rocky Mountain state, be prepared for some differences from your old coverage.

These days Colorado is no longer a “No-Fault” state when it comes to auto insurance. In 2003, the state switched to a "Tort" system. Under this new system, drivers no longer need to carry Personal Injury Protection (PIP) on their policies. PIP covers certain medical expenses incurred in an accident. If you carry health insurance from another source (from work, parents, etc.), this will satisfy your auto requirements and drop your annual auto premiums by as much as 20%.

On the other hand, you will be held liable for damages you cause in an accident. This means lawsuits may be brought against you to compensate for damages not covered under your policy, as well as other losses, such as pain and suffering. Because of this, you may want to re-evaluate specific aspects of your policy.

Optional coverages in the state of Colorado include collision, comprehensive, uninsured and underinsured motorists, and may available through your auto insurance representative.

You may want to consider purchasing limits of coverage higher than those required by law to protect your assets or property, as you may be personally responsible for any damages above the policy limits.

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Auto Insurance for Leased Vehicles in Colorado

Most leasing companies in Colorado typically require drivers to maintain insurance coverage which exceeds the minimums set by Colorado state law. This is to protect you financially, as well as your leasing company, should they be held partly responsible. Most leasing companies will recommend the following amounts of insurance coverage:

• Bodily injury liability coverage: $100,000 per person/$300,000 per accident
• Property damage liability coverage: $50,000
• Comprehensive and collision coverage: $500 maximum deductible

Special Insurance Considerations for Drivers in Colorado by City

• Colorado Springs
• Denver

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Contacts for Auto Insurance Information in Colorado

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**Auto Insurance Finder is not an insurance broker or carrier. Content on this site is for comparison and informational purposes only. The products and services listed on this site may not be available in all states.

Last Updated: August 19, 2010