We get a lot of questions about car insurance in Longmont, and one of the most frequently asked questions involves full coverage car insurance. More specifically, our clients want to know what it means, and more importantly, if they need it.
What is Full Coverage Car Insurance?
Let’s start by defining this term. When you hear of a “full coverage” car insurance policy it tends to mean one that not only includes the legally required liability insurance for your state, but that also has comprehensive and collision coverage as well.
Minimum Insurance Requirements in Colorado
As for the legally required insurance, this varies from state to state. While higher amounts can be purchased, this is the minimum about of insurance drivers in Colorado are required to carry:
- $25,000 for bodily injury or death to any one person in an accident;
- $50,000 for bodily injury or death to all persons in any one accident; and
- $15,000 for property damage in any one accident.
Collision and Comprehensive Insurance
While the minimum insurance level is important, it doesn’t provide drivers themselves with financial protection for their own damages.
For example, if you only have the legally required insurance and you’re at fault for an accident, it is your responsibility to pay for the cost of repairing or replacing your own vehicle. If you add collision insurance to your policy, however, you will have coverage regardless of who is at fault.
At the same time, comprehensive insurance can also be used to cover the damages to your own vehicle, but it’s used when the damage is sustained from something other than a collision. For example, if your car was vandalized and you didn’t have comprehensive insurance, you would be left covering the repair costs on your own. Comprehensive insurance also covers things like vehicle theft, damage from falling objects, fire damage, and more.
Do I Need Full Coverage Car Insurance?
Just reading the things that comprehensive and collision insurance cover can be enough persuasion to consider full coverage car insurance. If not, we encourage you to ask yourself this question: If your car was damaged or stolen, could you cover the cost of repairing or replacing it on your own?
Most people answer no to this question which is why full coverage car insurance is a good choice for most drivers.
The good news is, this type of coverage tends to be a lot more affordable than many drivers expect. To find out what a full coverage policy might look like for you, call us today for an estimate: 303-774-8810.