Colorado Auto owners with Auto Insurance Coverage

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Colorado Auto Insurance Coverage

In Colorado, all drivers are mandated to insure their vehicles. The Colorado Department of Regulatory Agencies’ Insurance Division enforces the state’s auto insurance regulations. The auto insurance industry in Colorado has been operating under a tort system since 2003. Under the arrangement, insurance companies demand a fault to be established before they can accept liability on a claim. The system has helped prevent claim abuse, which has in turn led to a reduction in insurance premiums. At Holtman Insurance in Colorado, we take it upon ourselves to ensure motorists can obtain minimum and complementary insurance policies to have peace of mind at all time.

A minimum liability policy covers the damage to other vehicles and the driver when the insured is found to be at fault. It is compulsory to carry proof of insurance while driving in the state. The following penalties can be imposed on motorists who lack proof of a minimum insurance coverage when flagged off by a police officer or after an accident:

  • A driver’s license losses four points.
  • A driver’s license is suspended until they can prove to be insured for first-time offenders. Repeat offenders have their licenses suspended for eight months.
  • Being required to participate in community service.

Motorists whose licenses have been suspended or revoked are under a legal obligation to file an SR -22 form. The form is a declaration by a motorist’s insurer that the former will bear personal responsibility for their minimum liability within a set period. There are different sets of requirements and validity for an SR-22 form depending on type and number of offenses. Motorists who fail to maintain their insurance covers with valid SR-22 forms have their driver’s licenses suspended once more.

Call Holtman Insurance, Colorado today or visit our office for a detailed talk about vehicle insurance. You can also use our online rating tool to obtain a quote. We have got everyone covered, whether you have a busy schedule or can spare some time for a face-to-face talk. Contact our offices for more information.

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