Exploring Colorado Uninsured Motorist Law

How Colorado Uninsured Motorist Laws Can Affect You

Colorado Revised Statute 10-4-609 governs uninsured and underinsured motorist insurance coverage in our state. The state revised and updated the statute in 2008 to provide more protection to consumers. This also closed loopholes that prevented insurance customers from receiving full benefits.

Uninsured motorist or underinsured motorist insurance coverage (UM/UIM) is designed to protect you when a driver hits you who does not have sufficient coverage. Limitations places on this coverage mean you aren’t getting the full value. That’s exactly what the State of Colorado addressed by adjusting it’s laws.

Changes Made to Colorado Uninsured Motorist Law

The 2008 update to the Uninsured Motorist Law had two significant changes:

• Colorado insurance companies can no longer “offset” insurance payments. “Offsetting” allowed insurance companies to subtract your payout from the at-fault driver from your UM coverage.
• The state removed “anti-stacking” language from the law. Previously, insured parties could not use multiple UM/UIM policies in order to maximize coverage. This is no longer the case. “Stacking” UM coverages is permitted as necessary.

The Importance of Uninsured or Under-Insured Insurance in Colorado

Colorado requires each driver to carry car insurance. However, the state does not require UM/UIM coverage. But this does not mean you shouldn’t have it. In fact, this type of coverage can be extremely beneficial.

Even though laws require drivers in Colorado to have insurance, data shows that in 2012, 16% of driver’s didn’t have coverage. That means in an accident there’s nearly a one in five chance that the person who hit you has no (or not enough) coverage.

UM/UIM coverage will protect you in the event an uninsured or uninsured motorist hits you and causes damages or injuries. The cost of adding this coverage varies depending on individual companies and your situation, but the price is well worth the peace of mind.

Contact an Experienced Denver Accident Attorney Today

At Roberts Accident Law, we always offer free consultations. An injury-causing accident is difficult to deal with, and we understand. We’ll listen to the facts of your case and advise you how best to proceed. Reach out today to talk with an experienced attorney.