NEWS BRIEF
Colorado Auto Theft Prevention Authority Announces Law Enforcement Grants
The Colorado Auto Theft Prevention Authority (CATPA) this week announced eight grant awards totaling nearly $2 million to target and combat auto theft statewide. The grant recipients include funding for seven multi-jurisdictional auto theft task forces made-up of 34 law enforcement agencies from across the state. More...
Colorado's Wild Week of Severe Weather Carries a $161.1 Million Price Tag
The preliminary tally for damage to property and vehicles is estimated at $161.1 million from approximately 34,000 insurance claims. Most of the damage stems from the widespread hail—battering cars and homes—adding up to nearly 21,000 auto claims and 13,000 homeowner claims. More...
Utah Auto Insurance Requirements
Each state requires that you have certain types of coverage with minimum liability limits. The insurance industry recommends that your bodily injury liability limits be at least $100,000 per person and $300,000 per occurrence.
Utah requires liability coverage and as a no-fault (see glossary of terms) state requires at least $3,000 in personal injury protection (medical payments coverage). Utah law mandates that auto insurance policies provide the following:
Liability -Minimum required:
$25,000 per person for bodily injury, $50,000 per accident for bodily injury (As of January 1, 2009, this limit increases to $65,000) and
$15,000 per accident for property.
Personal Injury Protection (PIP). Utah’s no-fault law also requires you buy a minimum of $3,000 in PIP coverage. PIP is a broad term for the coverage that will pay for your medical expenses in case of an accident.
Uninsured/underinsured motorist coverage. Insured motorists who are concerned about being in an accident with an uninsured motorist can purchase this optional coverage to ensure their losses are covered.
Collision & Comprehensive. Collision insurance pays for damages to your car caused by another vehicle, an object or a rollover. Its not required by law, but most lenders require collision coverage for financing. Comprehensive insurance protects you against damage to your own car from perils like fire, theft, glass damage, hail, wind, flood or vandalism. Comprehensive isn’t required either. If you have an older car, consider dropping these types of coverage to save on insurance premiums.
If you can afford more insurance, carrying more than the mandatory minimum requirement is recommended. Think about the amount of insurance you’ll need when you need it the most. Families should sit down with their insurance agent or company representative to determine the right amount for each individual and family.
Click here for Glossary of Auto Insurance Terms, Ways to Save, Teens Shopping for Auto Insurance, Auto Insurance Basics and Utah Insurance Department.
Updated:
February 28, 2007 1:52 PM
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