Louisville Auto Insurance in Colorado
Every Louisville car insurance policy should cover the minimum legal requirements as mentioned by the state. Many Louisville auto insurance companies in Colorado also offer extra coverage which can provide better financial protection. It is important to know about the coverage options before you buy the Louisville auto insurance coverage.
What should my Louisville car insurance cover in Colorado?
Louisville is a Colorado municipality in Boulder County that reported a population of around 19000 in the 2000 census. Louisville, Colorado was basically a mining community.
Car insurance is the law in the city of Louisville, Colorado. There are certain minimum limits specified by the state and every car owner must and should abide by these state minimum limits. Any insurance coverage over the specified amount is just an added benefit to the insurance policy holder.
What should your car insurance basically cover?
The state laws of Colorado require 25000$ per person for bodily injury and 50000$ per accident for all injuries sustained by people involved in the accident. This is actually a modest amount though it is one of the higher state minimums specified in the country.
And for property damage, it is mandated that you have at least 15000$ of coverage.
What is bodily injury liability?
Bodily injury liability means that the insurance company will cover for all the injuries sustained by people involved in the accident. This includes not only you and the people in your car, but also the people in the other party's car. The minimum coverage is never going to be enough for anything more than a minor accident. And hence it is prudent to go for a much more robust coverage for bodily injury. Insurance providers recommend 100000$ per person and 300000$ for all people involved in the accident. It is commonly referred to as the 100/300 policy.
What is property damage liability?
This coverage takes care of all the loss to personal and public property. Of course, 15000$ may not be enough again for a major collision. But it will take care of minor bumps and scrapes. And since the other party will also have the minimum coverage at least, it is going to be sufficient most of the time. But if you own an expensive car, make sure you have something more substantial.
There are other coverage's that are not exactly compulsory, but are offered by most insurance companies anyway. These include uninsured or underinsured motorist coverage. Under this option, you can claim for damages for your vehicle if the other party's insurance policy does not cover for all your damages.
Comprehensive coverage is the best sort of car insurance. It is expensive, but it will cover you even if your car is stolen or damaged due to natural disasters or occurrences.
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