Home to abundant landscapes, Colorado proves to be a paradise for motorcyclists. But with numerous motorcycles exploring the state’s roads, tragic accidents are bound to happen. In fact, motorcycle fatalities accounted for 20% of the state’s traffic deaths last year, killing 149 riders.
So, whether you are a resident commuting to work or a tourist visiting for a scenic ride, you can protect yourself by securing minimum and other optional motorcycle liability insurance coverages.
Minimum liability insurance requirements
Per the state’s financial responsibility laws, every motorcycle rider must have the following minimum coverages:
- $25,000: Bodily injury or death per person
- $50,000: Bodily injury or death per accident
- $15,000: Per property damage
Failure to meet these requirements before you hit the road could lead to hefty fines, license suspensions and community service hours.
While these requirements may save you from financial losses, they may still provide enough protection. You could then consider other supplementary insurance for your additional safety.
Collision coverage pays for damage repairs, while comprehensive coverage pays for repairs due to unique circumstances, such as natural disasters, theft or vandalism. If you do not have a health insurance policy yet, medical payments coverage can also cover medical expenses.
If a driver with insufficient or without insurance is the liable party, your uninsured or underinsured motorist coverage could pay for the injuries you sustained from the incident.
Establishing fault before payout
Before any payment release or receipt, it is crucial that you work with your legal team to determine the level of responsibility you bear or if you shoulder a burden at all. You have three years since the crash to build your case. Thus, it will be wise not to spend that time trying to navigate all the legal complexities on your own. It will help to fight for your claim as soon as you are able, especially if there are multiple parties involved.