Colorado is a state with a diverse population and culture. This diversity is reflected in its car insurance companies as well. For every make and model of car available, there is an insurance which suits it perfectly.
By State Law, Colorado is considers the resident financially liable for any injury and damage caused by an auto accident. Liability protection is mandatory coverage. While you can go with minimum coverage, it is recommended that you obtain higher coverage unless you have no assets to protect. Medical payments, collision, comprehensive and underinsured and uninsured motorist coverage are optional.
Your premium rate is determined by your make and model of car and its year, a clean or not so clean driving record, age and demographics. Other determining factors would be mileage, personal or work-related usage and your credit scores. Do not carry any more than you need to. If you have good quality medical coverage you should not require PIP (Personal Injury Protection). The medical coverage will encompass treatment of the automobile accident and will cover more services than the much more limited PIP coverage.
If you are driving a really old vehicle, collision and comprehensive aren’t necessary…they will probably cost you the more than the actual value of the car. Standard liability is completely different from minimum liability. Minimum constitutes the least amount of coverage you can have. This is contraindicated simply because it means you are actually underinsured in the event of a serious accident. Why leave your assets vulnerable unnecessarily. Typically a deductible will run about $500. However if you increase the amount to $1000, this means peace of mind because you can then increase the amount of personal liability coverage to above minimum standards.
Discounts on Colorado auto insurance can be due to no moving violations in the last 3 years, proof of anti-theft devices, locater tracking, defensive driving courses, decrease in mileage, etc. Don’t expect to qualify for safe driving discounts if you have a teen driver in the house. In the event you are in an accident with an uninsured driver you won’t be financially compensated without having uninsured motorist coverage.
Not only does uninsured and underinsured motorist coverage protect you, you are handsomely compensated for out-of-pocket expenses related to your injuries and compensated for pain and suffering as well. Your uninsured and underinsured motorist coverage should match your liability coverage…so figure if you have $25,000/$50,000/$15,000 for your liability you should have the same for uninsured, underinsured motorist coverage.
It makes perfect sense to protect yourself and your family, as much or so than other drivers on the road. Protecting your assets by having uninsured/underinsured coverage often means reimbursement for property damage you incur in an accident. PIP or Personal Injury Protect is unnecessary unless you have no medical coverage. Otherwise it would be redundant and it is very limited in what it covers. New cars must carry Collision and Comprehensive. But for old vehicles, that is just money better served for another purpose. When making a decision about auto insurance in the state of Colorado, be an informed consumer and comparison shop. You will be glad you did so.
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Filed under auto insurance price quote by on Jul 5th, 2010. Comment. 
I was recently in a car accident, but didn’t do a police report. Can I still claim this collision on insurance?
I was driving in the rain and went to brake and instead my car slid into the vehicle in front of me. I went to stop assuming he was doing the same thing, but he turned. So, I assumed that he was turning to get out of the street. I followed to turn, but he kept going! Then I realized he wasn’t going to stop. So, at that point, I just drove the two blocks to my original destination. I was told insurance would not cover the damage bc I did not stop and do a police report. Is this true? I have AAA Michigan auto insurance.
In the future avoid taking advice from whoever told you that. Count yourself lucky the person you hit didn’t stop, because if he had you would have owed for all damage to his car. Since it was your fault, the damage to your car would only be covered by collision, and a police report isn’t needed because there is no need to assign who is responsible. Call your agent, make the claim, get your damage fixed. You will, of course, have to pay the deductible amount if any.
Filed under auto insurance price quote by on Jul 3rd, 2010. Comment.
Purchasing any property will likely be a major significant decision. Buying Lake Property is no different, matter of fact it make take more research and due diligence. What you probably don’t know is that there are many factors that come with purchasing lake property that makes more unique that just any regular property. With that said, I’ve complied a few pointers for you to consider. I hope they may benefit you in some way.
-Always try to physically see the lake property. No matter how many photos you see or how detailed the description….nothing can substitute seeing it in person.
- Hire a licensed Realtor. One who is an expert with Lake Homes or Lake Property. Some simple research is all that is needed. Make sure the are in fact an expert and live in the community. The benefits are overwhelming and it will not cost you a dime!
- Find out how much pricing differs per county or location of property on the lake. You’ll always pay more for full views, deep water, and flat lake lots.
- Get as much documentation on the Lake Property as possible. Surveys, Plots, Tax Records, Disclosures, Set backs, anything along these lines.
- Determine what type of lake it actually is. Does the lake fluctuate in water levels? How does that affect your access to the lake?
-Check to see if there are any flood plain restrictions. If you build or buy in a flood zone you may have a tough time getting insurance.
- Check to see if there are any covenants or restrictions. You may want to increase your dock size or add an out building, but will not be able to due to an association.
- If your are purchasing a resale lake home or are building a new construction lake house, definitely get it inspected by a licensed home inspector.
- Get a termite inspection.
This is not a catch all list but hopefully it will get you started on the right track!
Find Lake House
http://www.findlakehouse.com
Filed under Home Insurance by on Jun 7th, 2010. Comment.