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Property Damage Insurance in Denver

Mandatory auto insurance policies in Colorado have to have a minimum level of coverage. Some coverage, like collision or comprehensive, are optional. The mandatory insurance has to cover bodily injury or death and property damage. Property damage insurance covers the costs associated with vehicle damage or other property damaged in a car accident. 

Minimum Auto Insurance for Drivers in Denver

Under Colorado law, the minimum amount of auto insurance liability coverage is: 

  • $25,000 for bodily injury or death to any one person in an accident;
  • $50,000 for bodily injury or death to all persons in any one accident; and
  • $15,000 for property damage in any one accident. 

Drivers can select higher coverage rates but the above amounts are the minimum coverage levels in order to legally drive on Colorado roads. Having higher coverage amounts may offer more protection to drivers because a serious injury accident can easily go beyond $25,000 in medical expenses. 

Property Damage Insurance Coverage

The minimum coverage for property damage is up to $15,000 in any one accident. Property damage can cover a wide variety of losses involved in an accident, including: 

  • Auto repairs
  • Car rental while vehicle is being repaired
  • Vehicle replacement if damage is beyond repair
  • Damage to property, like a building, wall, street sign, etc.
  • Court costs or attorney fees

For example, Driver A is texting while driving and hits Driver B, who is stopped at a red light. Driver B is then forced up over the curb, crashing into a retail store window. Driver B also had a collection of antique glassware in the trunk that was destroyed. If Driver A is determined to be at fault, Driver A's property damage insurance may have to cover: 

  • Driver B's vehicle repairs
  • Loss of Driver B's antique glassware
  • Retail store window repair
  • Loss of business for retail store caused by the accident

If the total property damage losses go beyond Driver A's insurance coverage, Driver A will be personally liable for the remainder of the financial losses. 

Does Property Damage Cover the Driver's Own Vehicle Damage?

Basic auto insurance coverage provides for repairs and damages to other property. It does not generally cover damage to a driver's own vehicle. If a driver's own vehicle is damaged then the driver will have to seek compensation from the at-fault driver or the at-fault driver's insurance company. 

If a driver was at fault for an accident and their own vehicle was damaged, the driver will have to pay out-of-pocket for the losses unless the driver had comprehensive insurance. Collision coverage is optional in Colorado. 

Property Damage Insurance in a Lyft or Uber Accident

Rideshare accidents may have different insurance rules that apply. The insurance coverage for Lyft and Uber drivers depends on the driver's status at the time. If the driver is not using the rideshare app at the time, their personal coverage applies. If the app is on or the driver is engaged in a prearranged ride, the rideshare company may supplement coverage. 

Insurance claims after an accident with a rideshare company can be more complicated. If the insurance company or rideshare company does not want to pay out for losses caused by a Lyft or Uber driver, consider contacting an experienced Denver auto accident attorney for assistance. 

Denver Accident Lawyers

In a serious car accident, the injury victim may have to deal with both physical injuries and getting their car repaired. If the insurance company does not want to pay up, contact the attorneys at accidentdenver.com. Contact us today for a free consultation.

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