In the breathtaking expanse of Colorado, where winding mountain roads meet bustling city streets, having adequate car insurance is more than a legal obligation—it’s a crucial safeguard for you and your loved ones. Among the various types of coverage available, uninsured and underinsured motorist insurance (UM/UIM) stands out as particularly vital to injury claims, especially in a state known for its diverse driving conditions and high-altitude highways. Here’s why this coverage is so important for Coloradans.
- The Risk of Uninsured Drivers
Despite the legal requirement for all drivers to carry liability insurance, not everyone complies. In Colorado, approximately 16% of drivers are uninsured! Further, the most common policy limit we see in our injury practice is minimum limits of $25,000. The reality is that most drivers are underinsured. This can be attributed to various factors including financial constraints or lack of awareness. When an uninsured driver causes an accident, you could be left facing significant medical and repair costs without the financial support typically provided by the at-fault party’s insurance.
- The Reality of Suing Underinsured Drivers
Driver’s carrying the minimum liability limits of $25,000 are most likely judgement-proof. This means that even if you did sue them and win, it would be nearly impossible to recover the court judgment. A short trip to the courthouse to file for bankruptcy will most likely erase the judgment against them. This is another reason why underinsured motorist protection is so important! Underinsured coverage will kick in once the injury claim exceeds the at-fault driver’s insurance policy.
- Comprehensive Protection for Your Family
Uninsured and underinsured motorist coverage isn’t about protecting your vehicle; it’s about safeguarding your family. In the event of an accident caused by a driver without sufficient insurance, UM/UIM coverage can help cover medical expenses for injuries that you or your passengers sustain. This protection is crucial for ensuring that your family’s financial stability isn’t jeopardized by unforeseen medical costs and loss of income.
- Medical Costs Can Quickly Escalate
Medical expenses resulting from an accident can quickly spiral out of control. Even with health insurance, there are often deductibles, co-pays, and other out-of-pocket expenses to consider. UM/UIM coverage steps in to alleviate these financial burdens, covering costs such as hospital bills, rehabilitation, and long-term care if necessary. Without this coverage, you might find yourself struggling to pay for medical treatments that are critical to recovery.
- Protection Against Hit-and-Run Incidents
In addition to protecting against uninsured and underinsured drivers, UM/UIM coverage also provides a safety net in hit-and-run scenarios. If you’re involved in an accident with a driver who flees the scene and cannot be identified, this coverage can help you recover costs related to your injuries and vehicle damage, offering peace of mind when the at-fault driver’s information is unavailable.
- Peace of Mind in a Beautiful State
Colorado’s natural beauty and adventurous spirit encourage many to hit the road for recreation and exploration. However, with increased travel comes increased risk. Knowing that you have UM/UIM coverage provides peace of mind, allowing you to enjoy your journeys through the Rockies and beyond without constant worry about potential financial setbacks due to another driver’s lack of insurance.
- Legal and Financial Repercussions
In the unfortunate event of an accident involving an uninsured or underinsured driver, navigating legal and financial matters can be daunting. UM/UIM coverage simplifies this process by providing financial support directly through your own policy, minimizing the need for extensive legal action or prolonged financial strain.
Conclusion
In Colorado’s dynamic driving environment, uninsured and underinsured motorist coverage is not just an optional add-on; it’s a critical component of a comprehensive auto insurance policy. It protects you and your loved ones from the financial risks associated with uninsured or inadequately insured drivers, ensuring that you’re not left to face the aftermath of an accident alone. We recommend at least $100,000-$250,000 in UM/UIM coverage. By securing UM/UIM coverage, you’re investing in the safety and well-being of your family, giving you the confidence to navigate Colorado’s roads with greater peace of mind.
If you have questions about your auto policy, please contact our office for a free consultation.
-Ryan D. Malnar
Trial Attorney
Malnar Injury Law
