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Do you really have enough motor vehicle insurance coverage?

On Behalf of | Sep 18, 2019 | Auto Accidents

Too many people in Colorado view car insurance as an unnecessary or frustrating expense instead of an important form of protection that they may need some day in the future. Your car insurance protects you from liability if you get into a crash with someone and cause major property damage.

When law enforcement officers or police believe that you are responsible for the crash, that means you have a legal and financial obligation to the other party if they have property damage or major medical costs. Your insurance policy will cover those costs, helping you avoid paying for things out of your own income.

If you don’t have enough insurance, you may not find out until someone else tries to make a claim for property damage or medical care after a collision where police listed you as the person at fault. Whether you are fully responsible or partially responsible for the crash, you may have to pay out-of-pocket for anything that doesn’t receive coverage through the insurance policy if you carry.

Minimum insurance policies don’t really offer effective protection

If you buy the cheapest policy that you can legally carry in Colorado, that means that you will only have $15,000 worth of property damage coverage and $25,000 medical coverage for one person or $50,000 for two or more people who wind up hurt. It doesn’t take an accountant to see how low levels of coverage may be far too small.

Perhaps the crash involves a van full of people, with five or even eight people suffering injuries and requiring medical care. Maybe the other driver had an expensive vehicle, such as a van with wheelchair accessibility or a late model or luxury vehicle. Carrying extra coverage that increases the amount of medical and property damage protection you have reduces the potential of someone needing more coverage than your policy has to offer.

Your policy can protect you from the mistakes of others

Even if you have good insurance, it is possible that you can get in a crash caused by another driver who has one of those low-cost, low coverage policies. That could be a real issue, particularly if you suffer major medical consequences or if your vehicle winds up totaled. The amount of coverage available may only scratch the surface of the expenses you incur as a result of the collision, meaning you receive a very low settlement offer.

If the other driver doesn’t have an active policy at all, you could get left holding the bag for all of those costs. Expanding your insurance policy to include protection for uninsured or underinsured drivers makes sure that you won’t have to pay out-of-pocket when somebody else’s policy doesn’t offer you enough protection.

If you haven’t recently reviewed your insurance policy, it might be a good time to sit down and do so, potentially with the help of an attorney familiar with personal injury cases in Colorado. They can provide you with insight regarding the costs associated with different kinds of crashes and help you explore what coverage will leave you least vulnerable in the event that you experience a car crash.