Obtaining Colorado Springs Auto Insurance When You Relocate
If you are in the process of relocating to Colorado Springs, you will be required to transfer your auto insurance to the state of Colorado before registering your vehicle in the state. The Department of Motor Vehicles Colorado will require that you obtain Colorado Springs auto insurance within 10 days of relocating to the state. Even if your automobile registration is valid in your prior state for 6 more months, when you are deemed as a legal resident of Colorado, you can receive unnecessary tickets for not purchasing auto insurance in the state in which you reside. Because insurance laws vary in each state, you will need to review your existing insurance policy and the state financial responsibility laws of Colorado to make sure you are purchasing insurance that will satisfy state mandated requirements.
Every state in the nation, excluding New Hampshire, requires drivers to maintain continuous automobile insurance. While the coverage and limit requirements will be different in each state, all states require residents to bind liability insurance to protect third party drivers in the event of an accident. Liability insurance consists of both Bodily Injury and Property Damage coverage. Bodily Injury will pay for injuries that you cause to a third party up to the limits stated on your auto insurance declarations page. In the state of Colorado, drivers are required to carry no less than ,000 per person and ,000 per accident in Bodily Injury coverage. While reputable insurers will recommend that you carry higher limits, these limits will satisfy for the state.
Property Damage will pay for damage that you cause to third party vehicles and other property up to the limits stated on the policy declarations page. Colorado Springs auto insurance requirements state that drivers in the state must carry no less than ,000 per accident. The policy will pay only ,000 no matter how many vehicles are involved in the accident. Insurance agents should recommend that you purchase higher limits for both Bodily Injury and Property Damage coverage.
In the state of Colorado, both Uninsured Motorist and Medical Payments coverages are optional. While they are not required, you should seriously consider investing in these coverage if you do not have medical insurance. If you elect not to carry either of these coverages you will be required to sign a rejection form stating you were offered the coverages by the insurer as the state requires Colorado insurers to offer UM and Med Pay.
Start receiving quotes before you relocate to Colorado Springs so that you can get an idea of how much to budget for your Colorado Springs auto insurance. Once you settle into your home, you will need to visit the DMV and provide proof of insurance to register your vehicle. Do not procrastinate and avoid unnecessary tickets and fees.