In Colorado, people must carry car insurance. Not doing so is illegal, and that can lead to charges if a person gets into an accident. For you, the victim, the other driver not having insurance can be a major problem. You could be left with few or no ways to recoup the costs you’ve had to accrue for the injuries you’ve suffered and the damage to your vehicle.
Interestingly, Colorado used to be a no-fault state, but laws were changed to reduce the cost of insurance and to try to prevent claim abuse. Because of the drop in prices, everyone is required to have at least liability coverage when they drive.
A driver’s liability coverage should offer at least these minimums: $25,000 of bodily injury per person, $50,000 per accident for bodily injury, and $15,000 per accident for damage to property. Car insurance in Colorado is a tort system, so remember that you will have to prove that the other person was at fault if you want to make a claim.
There are also several types of optional insurance that the person who hit you may have, but they primarily help the driver, not the victim. You can opt to take out uninsured motorist accident coverage on your own policy, though, if you choose. If the driver who hit you does not have insurance, there are several punishments he or she could face.
They could face four points on their license, a minimum of a $500 fine, a license suspension and community service. On top of that, you can choose to pursue a lawsuit if you want to seek compensation for your injuries and losses.
Source: DMV.org, “Car Insurance in Colorado” Sep. 18, 2014