Colorado Motorcycle Insurance Law
Denver Motorcycle Accident Attorney
Motorcycle accidents are horrible events. Whether you are a rider or a passenger, a motorcycle offers little protection in the event of a collision. When accidents happen, both motorcycles and motorcycle riders can suffer extensive damage. You may be wondering who will pay for all these expenses? Hopefully there is some insurance coverage available. Insurance coverage works in a number of different ways. Below is some important motorcycle accident insurance information.
Colorado Motorcycle Insurance Requirements
In Colorado, all riders must carry what is called “Minimum Compulsory Liability Insurance”. This refers to the mandatory minimum amount of insurance motorcycle riders are required to carry as required by Colorado law. It is sometimes also referred to as 25/50/15. This represents the $25,000 of bodily injury coverage required per person injured, with a maximum payout of $50,000 per accident. The 15 refers to the $15,000 in property damage coverage required by law.
Uninsured and Underinsured Motorist Motorcycle Insurance Information
Uninsured or underinsured motorist coverage is not mandatory in the sate of Colorado. However, it is mandatory that the insurance company offer it to you when you buy your insurance policy. This coverage provides extra protection in the event that the person responsible for the accident does not have enough insurance coverage to pay for your expenses, medical or otherwise. Un- and Underinsured motorist coverage “kicks in” after you have collected the policy limits of the at fault driver. If you are at fault for an accident, your are not able to recover anything from your own uninsured motorist coverage.
Motorcycle Insurance Disputes and Bad Faith
Insurance companies are supposed to protect the people they insure from personal financial responsibly for the accidents they are involved in. Insurance companies are also supposed to make sure that their insured are covered for all items within the insurance policy limits. When an insurance company does not cover their responsibilities as outlined in the insurance policy, they are acting in bad faith. Insurance companies can be acting in bad faith when they unreasonably deny claims, delay the payment of claims, fail to investigate claims in a timely manner, or manipulate the facts of a claim. In Colorado, insurance companies who are found to be acting in bad faith can be required to pay double the original damages.
Contact a Denver Motorcycle Accident Lawyer Today!
If you are concerned that your insurance company is acting in bad faith, contact Denver motorcycle accident lawyer Wade Eldridge. He will examine your case and can work to resolve your insurance dispute. If your insurance company still refuses to pay on your legitimate insurance claim, Wade won’t be afraid to take them to court!
Call (303) 861-4222 today!