Van insurance protects drivers in motorcar accidents.
Many states such as Colorado desire drivers to manage vehivle insurance on their vehicles with positive minimum liability limits. Motorcar insurance, or automobile insurance, is intended to protect the Chauffeur from financial detriment that may ensue after an machine accident. On the contrary, the insurance corporation Testament solitary embrace up to the immensity specified in the policy line. In Colorado, drivers are required to bring insurance policies that embrace bodily injury liability and Belongings damage liability. Collision coverage, entire coverage, medical payments coverage and uninsured motorist coverage may be optional.
Bodily Injury Liability
In some policies, this coverage is combined with collision and comprehensive coverage limits. In Colorado, drivers can waive this additional coverage in writing, provided their policy limits meet all other minimums.
Comprehensive and Collision Coverages
Collision coverage covers the cost of damage to the driver's car when the driver hits another car or object.In Colorado, drivers must carry a minimum limit of $15,000 per occurrence.
Uninsured/Underinsured Motorist
Uninsured and underinsured motorist coverage covers the insured driver's medical expenses and cost of the vehicle's repair when the driver at fault does not have insurance or enough insurance coverage to cover all of the expenses.In the deed the insured causes an accident where another mortal is injured or killed, bodily insurance liability helps encompass that financial loss. In Colorado, drives must move a border of at least $25,000 per male for bodily injury and $50,000 per accident for bodily injury.
Property Damage Liability
If an insured driver causes an accident where another's vehicle or property is damaged, property damage liability helps cover that financial loss.Comprehensive coverage, on the other hand, covers the cost of the car if it is stolen or damaged by some means other than a collision, such as forces of nature. For example, if a tree falls on your car, comprehensive insurance covers the loss. These additional coverages are not required by law in Colorado, but many banks and financial lenders in Colorado require collision insurance on all cars purchased with a loan.
Medical Payments Coverage
Also know as Med Pay or MPC, medical payments coverage covers any medical costs associated with a car accident. In Colorado, insurance companies are required by law to offer a $5,000 limit in coverage for medical costs and include it automatically on all of their policies. Colorado drivers can opt out of the coverage, but must do so in writing or by telephone.
