| Insurance coverage is a complicated topic. These are just some of the more common types of insurance:
AUTOMOBILE LIABILITY INSURANCE - will pay for amounts a driver may owe to another who was injured as a result of the driver's negligence. Colorado law requires all drivers to carry at least $25,000 of this kind of insurance. The law also requires that all drivers carry an additional $15,000 in liability coverage to pay for property damage they may cause.
These insurance policies also provide that the insurance company will select and pay for a lawyer to defend claims against the insured person.
GENERAL LIABILITY INSURANCE: Most businesses carry this type of insurance but it is not required by law. The usual coverages are at least $100,000, more commonly $1 million and with larger companies (like trucking companies)$5 million.
MEDICAL MALPRACTICE INSURANCE: Doctors generally carry at least $1 million in coverage for damages that may be caused by their mistakes.
HOMEOWNERS INSURANCE: Homeowners are covered for a broad range of losses and claims: fire; hail damage to roof; dog bites; negligence claims against members of the household; slip and fall claims; automatic medical payments to persons injured on the premises; etc. Standard coverage for liability at least $300,000. |
