Denver Auto Insurance: Minimum Required
When you buy Denver auto insurance, liability insurance is required for all vehicles before registration. The minimum coverage required is $25,000 per person and $50,000 per accident medical plus $15,000 property damage.
The property damage limit seems unreasonably low compared to the price of cars and repair costs. Denver is a large city, with over 634,000 people in the city proper and over 2.5 million in the 10-county area. That means lots of cars on the streets and higher risk than in a lightly-populated area.
Protect Your Family
If you purchase only enough Denver auto insurance to meet the minimum liability requirements, you are exposing your family to a large financial risk. If you are in an at-fault accident you will be personally responsible for the damage to your car and the medical expenses of those in your car. This could be several tens of thousands of dollars! Do you wish to expose your family finances to this risk?
Every insurance company offers auto insurance in addition to the required liability insurance. Agents selling Denver auto insurance will be glad to explain the benefits of collision, comprehensive, towing, and other coverages they offer.
Once you understand what is offered, it’s up to you to decide which coverages you want and in what amount. Remember, you may be perfectly willing to accept the total responsibility for towing bills, for example. Or those bills may be covered by other insurance you already have. Don’t pay twice for the same coverage!
Discounts! Always Ask About Discounts!
There just might be significant discounts available when you buy your Denver auto insurance! Nearly every company gives discounts for insuring multiple vehicles with them. They may also give a discount if you’re completed a drivers training course.
When you buy your Denver auto insurance, it might save you money if you bought your home insurance from the same company!
Whether you live in Denver, Colorado, or Denver, Iowa, you’ll want to save as much money as you can on insurance. Be sure to ask about discounts!
Insurance is a Compromise
Just like so many things in life, insurance—including Denver auto insurance—is a compromise. How do you weigh the value of the benefits as compared to the cost?
How much of a financial risk are you willing to accept? Your Denver auto insurance professional can help you think through these compromises and come up with an acceptable plan.
The Bottom Line
First, you must have liability insurance if you have a car.
Second, unless you have an unusual financial situation you will probably want considerably more Denver auto insurance than is required.
Use Internet resources to chose wisely.