Every year you will have to reconsider your auto insurance policy as it expires on a yearly basis. If you have never been in an auto accident, or have not had to use your insurance, you might want to check your policy to know exactly what your insurance will cover.

There will be approximately 5,000 rear end type accidents in Denver alone this year. You do not wanna be caught off guard, and have to pay for damages to your car, medical care, and someone elses car because you had inadequate insurance coverage. Take an hour and check your policy, because that single hour of your life might just protect you in case you are in a car accident. Please feel free to call our office, (Denver Chiropractic, LLC) if you are wanting further explanation on auto insurance.

The following is from the Colorado Chiropractic Association:

1. Bodily injury liability
coverage (BI) (MANDATORY):
$25,000 per person and $50,000 per accident in Colorado) covers injuries YOU cause to others if you are at-fault in an accident. These mandatory amounts have proven to be inadequate in other states AND
Colorado because 1) there is a greater incidence of liability claims under a tort system; 2) liability insurance will not go as far; 3) and there will be more competing interest to claim dollars from liability coverage. Many
insurers recommend carrying at least $250,000 per person and $500,000 per occurrence, plus $100,000 for property damage. You should consider what assets you have to protect when deciding how much to purchase. In addition, consider purchasing Uninsured/Underinsured Motorist Coverage (discussed later in this newsletter) for protection from people who may not purchase enough insurance or any at all.

2. Property liability coverage
(MANDATORY: $15,000 in Colorado) covers damages YOU cause to someone else’s property. Usually it’s someone else’s car, but it could apply to buildings, utility poles, garage doors, etc. As previously mentioned,
many experts recommend at least $100,000 in property damage coverage.

3. Collision coverage (optional) covers damage to your car from a collision with
another car or object such as a tree or brick wall. To minimize your premiums, select a deductible you can live with – $500 or $1,000.

4. Comprehensive coverage (optional) is in case your car is stolen or damaged in ways
that don’t involve a collision, such as theft.

5. Uninsured & UNDERinsured (UM/UIM) motoristcoverage (optional) is available in two forms – property damage coverage and medical coverage to pay your bills when a driver without insurance or with NOT ENOUGH insurance hits you. Since this is optional coverage, insurance agents may urge you to eliminate it to keep your premium down – BUT DON’T DECLINE THIS COVERAGE. Again, consider purchasing at least $250,000/$500,000 limits to protect you, your family, and your assets.

6. Medical payments coverage (Med Pay) (optional), pays for reasonable expenses you and your passengers incur because of injury in a motor vehicle accident, regardless of fault. Be sure the Med Pay you purchase covers care you may need in the event of an accident, such as chiropractic treatment and massage therapy. Even if you have health insurance, there may be limitations on what types of health care are covered and various exclusions. Your health insurance may not cover resident relatives and will definitely not protect other passengers or people who borrow your car. MedPay is a necessity if you consider these factors. Ask about the monetary levels offered by your insurance carrier and select mid-to-high levels of $5,000 to $25,000 or more. If your auto insurance carrier DOES NOT offer Med Pay or the limits are too low, choose another insurance company that offers what you need
to protect yourself.

7. Essential services and rehabilitation (optional): These coverages will be eliminated under the Tort law. These types of losses will be included in BI or UM/UIM, but not available to other injured parties. Some insurers may sell extra coverage in this area, but are not require to do so.

8. Umbrella policies (optional): It is expected that many people will purchase only the state’s minimum coverage, so it will be more important than ever to protect yourself by purchasing adequate coverage. Ask your insurance agent about purchasing an Umbrella Policy that includes UM/UIM coverage.

For more information, check with your auto insurance agent or visit the Colorado Division of Insurance web
site at www.dora.state.co.us/insurance.

As you can see, many benefits under an insurance policy are optional. Declining these options might save you a small amount of monely immediately, but in case of an accident, these benifits could save you a tremendous amount of money and time.

Dr. Trent Artichoker MS, DC
Denver Chiropractic, LLC
3890 Federal Blvd Unit 1
Denver, CO 80211