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Underinsured motorists can lead to financial ruin

Motorists on the road are required to have insurance that meets or exceeds the state's requirements for this coverage. Sadly, many motorists opt to drive without having adequate insurance coverage. Some of these individuals think that they are doing their finances a favor by saving a little bit of money on premiums. However, they are risking financial ruin.

Many people don't take the time to think about just want the minimum insurance coverage really covers. In Colorado, the minimum coverage allowed is 25/50/15. This means that you have to have personal injury protection of $25,000 per person with at least a $50,000 per accident cap. You also need to have $15,000 in property damage coverage.

When you think about those mandatory minimum coverage amounts, you can probably see why they might not be a good idea. Some catastrophic injuries, such as brain injuries or spinal cord injuries, can likely cost more than $25,000 just for the initial care, not to mention the long term care costs.

We understand why you might feel upset to learn that the driver who struck you only had the minimum coverage. This can be a financial blow that you might not be prepared to deal with. There are a couple of ways that you can try to recover your money. One is that you can turn to the underinsured/uninsured coverage on your own insurance policy if you have that in place. The other is that you can seek compensation through a personal injury lawsuit.

We can help you to fight for these compensation types. You don't have to try to navigate the system alone.

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