Basic Auto Insurance
Colorado auto insurance law says all passenger vehicles be covered by state-mandated liability insurance minimums. Those mandated minimum insurance coverages are:
- $25,000 for bodily injury coverage per person.
- $50,000 in bodily injury coverage per accident.
- $15,000 in property damage per accident.
If you happen to be a car collector or otherwise have more than 25 registered vehicles, you can obtain a certificate of self-insurance from the Colorado Insurance Commissioner. The certificate ensures you can pay the minimum insurance coverages.
Required Insurance Documents
While driving on public roads in Colorado, you must carry proof of insurance. The proof of insurance identifies the year, make and model of the insured vehicle and its VIN number. The proof of insurance also details the liability insurance coverages in place and says whether or not other auto insurance coverage also applies, like uninsured/underinsured motorist protection, comprehensive and collision coverage.
The proof of insurance also lists the dates for which the listed coverages are in effect on the indicated vehicle. It says the owner’s name and the address where the vehicle is supposed to be garaged or otherwise parked while not in use. You must provide proof of insurance when asked by a police officer or pay a fine and possibly have your vehicle impounded.
Your Insurance Card
Virtually all auto insurers provide a wallet-sized card that you can use to conveniently and quickly provide proof of insurance when asked. The insurance card lists the same vehicle and owner information as well as the liability insurance coverages in effect that is listed on the full-size insurance documents that you receive from your auto insurer.
Colorado residents pay many millions of dollars on insurance premiums every year. Those premiums include the costs of insurance fraud, which is a crime in Colorado and all other states. Insurance fraud occurs whenever someone lies about the events leading to the incident, the extent of damages or injuries, or otherwise lies to obtain the largest possible insurance payout.
The fraud might include producing fraudulent invoices for repairs that were not done or falsified records for medical treatment of injuries that never were suffered. Fraud also could occur via a staged accident that causes damage and triggers fraudulent claims for medica treatments that never were done.
How to Report Insurance Fraud to the State
The Colorado Insurance Fraud Unit investigates complaints of insurance fraud within the state. Individuals can report insurance fraud online to the Colorado Attorney General. The online form allows individuals to provide detailed information and upload supporting documents regarding known instances of insurance fraud.
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