What is the minimum amount of coverage someone should have on their bodily injury auto policy in Colorado?
That is the minimum amount of insurance that somebody should have on their bodily injury coverage in Colorado. What that really means is when you get into an accident the person who hit you, they should have a minimum of 25,000 bucks to cover your damages.
Now that sounds like a decent amount but it’s really not. If you go to the hospital you spend one night in the hospital, your bills are going to well exceed that twenty five thousand right off the bat.
So what can you do? You can’t control how much insurance somebody who hits you has. However, what you can do, is control how much insurance you have. Look at your insurance policy and make sure you have what’s called UM or UIM insurance. That is under-insured motorist coverage or uninsured motorist coverage.
What that does is it gives you coverage once you’ve exceeded the limits of the at-fault drivers insurance. In other words if someone hits you and they only have twenty five thousand bucks of insurance, and your damages are way higher than that, once you exceed that twenty five thousand dollars, you can go to your UIM insurance and then look to get covered for
anything in excess of that.
If somebody’s not insured at all you can look at your UM, or uninsured motorist coverage, to then step in and take care of some of your damages from the car accident. That way you’re covered when somebody isn’t insured at all.
You can’t control how much insurance someone else has, but you can certainly control how much insurance you have. UM and UIM insurance is essential. $25,000 is not a lot. Be sure you are covered.