Colorado's required bodily injury liability limits are on par with those of many other states, but its property damage mandate of $15,000 is lower and unlikely to cover all the damage if you hit a newer car. Consider bumping it up.
Colorado's no-fault car insurance law expired in 2003. The state says that by 2008 Colorado auto insurance premiums dropped by 35 percent.
The state now requires that $5,000 of medical payments coverage (MedPay) be included with all car insurance policies, ensuring that every driver has access to treatment after an accident. But if you have health insurance already, you can opt out when you're buying or renewing a policy. Otherwise it (and the extra premium for it) will be automatically added to your policy.
Colorado auto insurance companies also must offer uninsured/underinsured motorist coverage on all new or renewal Colorado auto insurance policies, but you can reject it.
Feeling lucky? Hail, wind, wildfires and flooding are all natural perils that could put your vehicle at risk in Colorado. Comprehensive insurance coverage will cover you for these "acts of nature". Many insurers require that if you purchase comprehensive coverage that you also include collision.
Penalty for driving without insurance: A first offense will get you a $500 fine and four points on your driving record. Penalties escalate with fines of not less than $1,000, license suspension and community service if you are caught driving without insurance multiple times. And don't even think about driving during an insurance suspension: your license can be revoked for a full year.