Car accidents occur pretty much around the clock. Statistics show that in the time it will take me to finish this sentence, another car accident will have occurred somewhere in the U.S.
In many cases, these accidents are relatively minor. Sometimes the damage is so minimal that it’s easier to just pay the costs out of pocket.
But if the accident is more serious, the at-fault driver’s insurance will end of having to step-in to help cover your medical expenses, property damage and lost wages.
Even though Colorado law requires all drivers to carry a minimum amount of insurance, many either go completely without insurance or have so little that it isn’t nearly enough to make you whole again.
Just because you’re in a collision with an uninsured motorists doesn’t mean you will be stuck with the cost of the accident.
To protect drivers from a situation like this, Colorado, as does many other states, require insurance companies to offer what’s known as uninsured/underinsured motorist coverage. While it isn’t required to purchase, insurance carriers must notify you about it when you purchase a policy. You can reject in writing if you choose but it’s strongly recommended you pay the additional cost, which are minimal anyway.
If you’re hit by an uninsured driver, you should do the following immediately:
- Obtain contact information from the other driver and any insurance information they do have and provide it to your insurance company.
- If your policy requires you obtain a signed statement from the other driver stating they have no insurance, be sure you do.
- Submit a claim to your insurance company. If the other driver was underinsured, their carrier will pay your claim up to the policy limits. Your insurance should kick in after that.
WARNING – Before you accept any settlements from the other driver’s insurance company, check with your carrier first.
Most insurance policies, especially in Colorado, have a stipulation that requires you to obtain permission before accepting any settlements. If you accept the settlement without checking and your policy contains this stipulation, you will lose your right to submit an underinsured claim with your carrier!
To learn more about what you should do in the event of a car accident with an uninsured/underinsured motorist and what’s covered, check out our knowledge center article – What if I’m in a Car Accident with an Uninsured Motorist in Colorado? – for more information.
And remember, be sure to document everything and file a formal report with the police at the crash site.
If you’re experiencing difficulty in obtaining compensation from your insurance company, enlist the help of a Colorado car accident attorney familiar with cases dealing with uninsured or underinsured motorists today.