A vehicle crash can be one of the most traumatic experiences you ever suffer. Physical and emotional injuries take time and resources to heal. That is why you pay insurance premiums, to relieve the financial stress so you can focus on recovery, treatment and starting over. It is crucial to know how much compensation you will receive from your carrier and the other driver if they caused the wreck.
Colorado drivers are required to carry at least $25,000 in liability coverage to register a vehicle. But what if they have additional coverage that could additionally compensate victims who need more expensive surgery and rehabilitation?
Legislators recently amended the state’s motor vehicle insurance laws to make it easier for accident victims to access that information from at-fault drivers.
A welcome change
Before the change, insurance companies did not have to disclose an at-fault driver’s maximum coverage. Victims had to sue them in court to get it, starting the meter on costly but avoidable litigation. Knowing the policy limits lets injured clients decide whether to pursue the treatment they need right away without worrying about how to pay for it.
The new law requires insurance companies to:
- Notify injured victims of the at-fault driver’s complete policy within 30 days of the request.
- Identify to the victim or their attorney the name and coverage of each known insurer.
- Pay $100 a day in damages to the victim if they do not respond to their request within a month.
- Subsidize the victims’ attorney fees and enforcement costs if they fail to timely disclose the information.
Victims who file a claim are barred from disclosing the coverage information to anyone other than their insurance carrier and attorney. The narrow amendment simply is designed to save people from having to fight for basic information.
Answers and accountability
A car accident can shake up anyone’s world. A vehicle is a machine that can be replaced. But disabling injuries can take weeks or months to heal or require lifelong care, racking up costly medical bills while preventing you from working to pay them off.
You deserve answers and accountability. Moreover, you need the information to make the best decisions for your health and to pursue justice. An attorney experienced in personal injury liability and Colorado’s evolving laws can help you put the pieces back together and give you peace of mind to move past a traumatic experience.