Auto insurance
People continue to spend more time in their car. When broken down into there are 3 main components of auto insurance plus other features you may want to add on to make your insurance a little more personal.
Liability – Bodily injury and Property Damage
All vehicles must be insured by the owner to get registered each year. At a minimum, all vehicles must carry $25,000 per person and $50,000 per accident in bodily injury liability and $15,000 in property damage, this is commonly conveyed as 25/50/15.
The reality is in Colorado, with the weather, increased traffic, distracted drivers and increased healthcare costs, if you cause an accident that requires medical attention, $25,000 per person does not go very far, and neither does $15,000 in property damage. Let 303 Insurance Brokers help you to determine how much liability insurance you need.
Uninsured/Underinsured Motorists/Med Pay
Uninsured and underinsured motorist coverage is insurance coverage that you pay for to protect yourself in the event of an accident where the other party is at fault in causing the accident and does not have any or enough insurance to cover the bodily injury loss of the accident.
Medical pay is going to pay first dollar medical bills, up to the policy limit for any collision claim, regardless of fault. Both coverages are optional but strongly recommended. Learn more about protecting you and your passengers in an accident with guidance from 303 Insurance Brokers.
Comprehensive and Collision
Comprehensive and collision are coverages that provide coverage to your vehicle in the event of an accident (collision) or other damage to your car like vandalism or hail (comprehensive).
Comprehensive and Collision claims typically require a deductible: the lower the deductible, the higher the premium and the higher the deductible, the lower the premium. When should you consider removing comprehensive and collision? That is a great question that 303 Insurance Brokers can help you with.
Other Endorsements
Towing and rental car coverage are 2 of the most popular added endorsements to auto insurance policies. Other coverages that clients consider are windshield coverage, new car replacement, GAP coverage, and customization. Talk to 303 Insurance Brokers today to learn more about additional endorsements that you may want to add to your policy
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