Robert Langlois Insurance Agent
7901 Southpark Plaza #110
Littleton, CO 80120
If you plan to register and drive a vehicle in Colorado, auto insurance is a requirement. The coverage that the state requires is liability, which pays the other person if you are at fault in an accident. When you have a loan on a vehicle, you are required to carry additional coverage that the bank will require (comprehensive and collision). People refer to this as "full coverage," because the vehicle itself is covered for damage in any instance. The term "full coverage" is deceptive since there is far more coverage available than comprehensive and collision and the policy can be customized to the need of the individual.
Liability - This is required by Colorado law. The minimum limits for this coverage is $25,000/$50,000/$15,000. This will pay for any person that you injure if you are at fault in an accident; $25,000 per person and $50,000 maximum per accident. It will pay for a maximum of $15,000 for property damage (other car, street sign, etc). If you carry the minimum limits and they are maxed out, YOU will be responsible for the reminaing amount in a personal injury lawsuit. It is a good rule to always make sure that your auto liability limits are higher than your assets, since your assets can be made available in a liability lawsuit. Twenty percent of auto related liability lawsuits in western states are settled for at least one million dollars.
Uninsured/Underinsured Motorist Bodily Injury - If someone hits you and they are at fault in the accident, they will be resposbile for you and your passengers' medical bills. What happens if they don't have any insurance, or they only carry the state minimums? This is why you have Uninsured/Underinsured Motorist Bodily Injury (UM/UIM). The medical bills, lost wages, and pain and suffering that you may go through fall under this coverage.
Uninsured/Underinsured Motorist Property Damage - If you feel your car doesn't need any damage coverage for it, but would still like to be covered if someone who doesn't have insurance or hits your car and takes off, then this is a great coverage for that instance. If your car is hit by a person that has no insurance, or a minimal amount, then it would be able to be covered wihtout carrying the more expensive collision coverage. This only covers damage to your car caused by others.
Medical Payments - When you or your passengers are injured in an accident caused by you, whether you hit a car or a pole, this coverage will pay up to your limits (minimum $5,000 in Colorado) for medical attention. If you don't have health insurance, or have a high deductible, this coverage is a good fit since there is no dedcutible required for it to pay for your injuries.
Comprehensive - When you are driving down the road and you get caught in a massive hailstorm (normal in Colorado), your comprehensive coverage is what would pay for your car to be repaired. Basically, comprehensive coverage (referred to as all other) covers your car for anything but car related accidents/damage. This includes instances such as hail, theft, vandalism, hitting an animal, house fire, etc.
Collision - This will cover any damage to your car related to an accident. It also includes if your car is hit while parked and the other person leaves the scene. If you are hit by someone who does not have insurance, this is used to repair your car, but you would still be subject to your collision deductible.
Glass Option - We see our fair share of broken windshields in Colorado. This is typically caused by the gravel put on our roads during the winter for snowy conditions. This coverage allows you to get your windshield (or any glass on the car) repaired or replaced and little to no cost to you.
Rental/Loss of use - When your car has an open claim on it, this option will either pay you a maximum limit to rent a car, or a flat amount per day (and you use the per day amount for whatever you choose). This is a good coverage to have if you only have one car per driver in your household.