Reader’s Question:

May I ask for some information on auto insurance for the State of Colorado? Have there been any changes?

Gregory

Denver, CO

The policymakers of the State of Colorado are pursuing a measure that could directly affect a motorist’s annual auto insurance payments. This proposal seeks to add additional coverage for medical, rehabilitation and occupational training. If passed, motorists will be required to purchase an additional $25,000 for medical payments and $25,000 for immediate rehabilitation and occupational training after an accident. This could mean an added $200 yearly to a motorist’s budget.

The reason for this proposal came from complaints of depleted funds filed by various medical institutions. First responders to the scene of the accident, such as trauma centers, end up not being able to promptly collect for their services because of long court battles to determine who needs to pay the bills. This complication came from Colorado’s move to switch back to the traditional tort from the no-fault law in 2003. Prior to this, medical institutions were paid accordingly and timely since each individual’s insurer covered the necessary payments. But since Colorado reverted to the tort law, medical institutions have been dangerously lacking funds. As any price increase in basic products and services is received with disdain by any consumer, this suggestion is highly questioned by Coloradoans since the proposed coverage already exists under health insurance and will only prove to be redundant. Keep yourself updated on information on auto insurance by contacting your local auto insurance agent or visiting the state’s insurance regulator website.

Tags: auto insurance, auto insurance coverage, car insurance, car insurance agent