Understanding Colorado’s Tort Insurance Coverage

Car insurance is one of those annoying but necessary facts of life. You hope you don’t need it, but are incredibly glad it’s in place when you do. It’s important to understand how Colorado’s insurance system works, as this can directly affect what sort of settlement you might expect after you’ve been involved in a car accident. In 2003 Colorado switched from a no-fault insurance model to a tort insurance model. This new system means that parties involved must seek compensation from the at-fault driver’s insurance company to cover the costs incurred due to the accident.

Tort-based accident claims can be quite complex and confusing to navigate, which is why it is so important to contact an experienced car accident lawyer near you after you’ve been in an accident. The team here at the Law Offices of Rodemer | Kane know the ins and outs of tort insurance claims and how to fight insurance companies to make sure you get the best possible outcome for your car accident settlement. Contact our office online or call us at 719-635-7886 for more information on tort-based accident claims or to schedule a free case consultation.

What Is the Difference Between No-Fault Insurance and Tort Insurance

In Colorado’s old insurance system, the no-fault driver insurance system, a driver had personal injury protection (PIP) benefits under his or her own insurance policy. These benefits would cover the policyholder’s medical expenses, no matter who was at fault for the accident. This system allowed the expedient processing of insurance claims, as drivers could immediately file claims for payment of medical bills and vehicle repair/replacement under their own auto insurance policies. They did not have to wait for it to be determined who was at fault in the accident.

In a tort insurance system, it is the at-fault driver’s insurance who pays for the expenses related to the accident. This means that the injured driver or passenger has to seek compensation from the other driver’s insurance company in most cases. Dealing with another person’s insurance company can be difficult and time-consuming, more often than not these companies will deny claims or try to get the injured party to accept a minimal settlement in an effort to reduce their liability and payout. An experienced car accident attorney can help you go up against these insurance companies when seeking compensation after an accident.

Limited Tort Insurance VS Full Tort Insurance in Colorado

When you sign up for vehicle insurance, an insurance agent will discuss your options about what kind of coverage you want to have. Each of the options comes with its own benefits as well as costs. An important insurance option that Colorado driver’s often don’t fully understand the value of, is full tort insurance. Full tort insurance means that you have the ability to seek compensation not only for medical costs and property damage after you’ve been in an accident, but for every other type of cost incurred due to the accident, including pain and suffering. On the other hand, with a limited tort insurance policy you are only eligible to recover damages for your medical bills, vehicle damage, and lost wages related to the accident. Limited tort insurance policies cost less than full tort policies which is why many people choose to go with this sort of coverage, but it is important to be aware of the limitations of these policies as they have a significant impact on your ability to seek compensation should you ever need to.

Speak With A Colorado Car Accident Lawyer About Your Tort Car Accident Claim

Under a tort-based insurance system, it is strongly recommended that you seek that advice of legal counsel after you’ve been involved in a car accident. The at-fault driver’s insurance company will do all that they possibly can to minimize that accident settlement, which could leave you with inadequate compensation to pay for all of the expenses related to your car accident. If you have been injured in a car accident, regardless of whether you have limited tort or full tort insurance coverage, reach out to the Law Offices of Rodemer | Kane in Colorado Springs, CO. Our experienced and compassionate team of attorneys are here to fight for you. We will take on the insurance companies so that you don’t have to and work tirelessly to make sure you get the compensation you deserve. Contact our Colorado Springs law office today online or call 719-635-7886 to set up a free case consultation.