In 2003, the state of Colorado became a fault state in regards to car accidents, meaning that any Colorado driver who is in a car accident must first file their claims with their own auto insurance companies to cover medical bills and damages. Being a fault state, Colorado also mandates that all drivers have at least the 25/50/15 insurance coverage on their vehicles. The 25/50/15 coverage consists of $25,000 per person for bodily injury or death, $50,000 for additional individuals, and $15,000 in property damage coverage.
If insurance companies cannot cover all damages, then car accident victims are allowed to file a lawsuit to recover the rest of the damages. Colorado follows the comparative fault in car accident lawsuits, which means you’ll need to prove that the other party is at least 50% or more at fault for the collision. If not, you’ll be unable to recover any damages. In addition, if you are responsible for any part of the collision, you’re legally liable to pay for those damages, which is typically taken out of your total settlement amount.
Per Colo. Rev. Stat. Secs. 13-80-102, 13-80-103, you’ll need to file your lawsuit within two years of the accident. However, it’s recommended to retain a car accident lawyer and file as soon as possible.