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Fdazar > Insurance Law (Page 2)

Let’s Talk About Auto Insurance: UM/UIM

As we have already discussed you are required to hold liability coverage if you drive in the state of Colorado and most other states. However that does not mean everyone carries it. Many people do not have auto insurance which can cause a headache for you if you are in a collision with someone who is uninsured. In fact, about 13% of drivers on the road are estimated to be uninsured. So if you are in a collision with someone who is uninsured and the collision was their fault, who is going to pay for your medical bills? Well, if...

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Let’s Talk About Auto Insurance: Comprehensive Coverage

We have talked about liability coverage and collision coverage and to wrap it all up we need to talk about comprehensive coverage. Comprehensive coverage covers everything else that collision coverage does not. This includes hail, fires, theft, vandalism, animal collisions, and floods. Basically, it covers everything that damages your car that is not a collision. How much does comprehensive coverage cost? Comprehensive coverage works the same way as collision coverage with a deductible. Because the events that result in comprehensive coverage loss being used are less common than collisions, deductibles tend to be lower. The average comprehensive deducible in Colorado is...

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Let’s Talk About Auto Insurance: Collision Coverage

In the past two blogs we have talked about the kind of auto insurance you need to purchase to make sure the other party in a collision is taken care of. Now let’s talk about how to make sure your property and injuries are taken care of. In this blog we are going to explore property damage coverage to protect your vehicle. We will be talking about the insurance that takes care of your medical bills in another blog in a few days. “Collision” coverage is different than property damage liability because liability is no longer an important factor. Collision coverage...

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Let’s Talk About Auto Insurance: Liability Coverage- Property Damage

Yesterday we discussed the first part of liability coverage called bodily injury coverage. The second part of liability coverage is called property damage liability. Property damage liability pays for the damage that the liable party causes to another vehicle. To learn more about liability check out the blog from yesterday about bodily injury liability. So, what does property damage liability cover? Property damage liability will cover the damages to any property of the other party(s) involved. This, of course, includes their vehicle, but it can also coverage things such as buildings and fences that you may collide with. Property damage liability...

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Let’s Talk About Auto Insurance: Liability Coverage

Most people know that you are required to have insurance if you drive. The most common kind of insurance that is required is called liability coverage. “Liability” coverage actually breaks down into two different types of coverage: bodily injury and property damage. Today we will be talking about the type of liability coverage that covers bodily injury. Property damage liability coverage will be discussed later. So what is bodily injury liability coverage, i.e. liability? Well, before we get exactly into what it is, we need to talk about what liability is. Liability is “the state of being responsible for something, especially...

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Let’s Talk About Auto Insurance: Introduction

Let’s face it, car insurance is complicated and can be confusing at times, especially if you’ve recently been in an accident. There are 5 major categories of auto insurance you should be familiar with. Some are required by law, and others are not. In this series we will be covering one type of insurance each post and giving you the details on what it is, what it covers, and if you need it. Check back each Monday and Thursday to learn about another type of insurance and as the blogs get posted we will update this post with the links!       ...

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Preparing For An Auto Accident – What You Can Do

Life hands us a multitude of stressful situations and, if we are not prepared, the way we react (or don’t react) can have dire consequences. Being in an auto accident is one of the many situations where we can find ourselves extremely stressed out in an instant. Once in an accident it is very important to keep your wits about you while maintaining a calm and collected frame of mind. The following are ways you can prepare yourself, so when the time comes you are capable of doing exactly what you need to do to ensure you can calmly handle the...

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Good Faith and Bad Faith Insurance: What It Means to You

When you file an insurance claim with an insurance company in Colorado, that company owes you a duty to act in good faith. This means that the insurance company must not look for ways to escape its obligation to investigate the claim or to pay you. Doing so would constitute bad faith. Bad faith claims and lawsuits may stem from a number of actions or failures to act by insurance companies. Here are some causes for legal action against bad-faith insurance companies: Unfair denial of coverage Failure to communicate important information to the claimant Failure to...

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