What to Know About the New Liable Party’s Insurance Coverage
There is a new law that can allow you to get damages from an auto accident without having to file a lawsuit. This new law went into effect in early 2020 and will make life easier for many drivers.
The law, called C.R.S. § 10-3-1117 is designed to see if your uninsured or underinsured motorist coverage can be used in certain situations. The result is that the driver can get the at-fault insurance company to pay for damages and not have to go through the lengthy process of a lawsuit.
What to do if you get into an accident
If you get into an accident, the first thing that you will want to do is get information from the other driver or drivers involved in the accident. Some of the information that you will need includes the following:
- The name of the insurer
- The name of each driver. The name of the driver should match the name on the insurance policy
- The limit of the insurance coverage
- A copy of the other driver’s insurance policy
By law, the insurance company of the driver who hit you have 30 calendar days to give you all of the above information. If the insurance company does not comply within the 30 calendar day time frame, then the insurance company will be fined $100 per day along with attorney’s fees and other penalties.
You can get the information from the insurance company by filling out a form provided by the Colorado Division of Insurance. The only information that you will need in order to complete the form is the other party’s insurance information.
What else you know about the new law
There have been cases where insurance companies have refused to provide the information requested even after an official form has been sent. In many cases, the information will be provided once a lawsuit is filed.
During that time, people who have been injured in an accident have to make an educated guess as to how much that can get in damages. Sadly, these delays can cause injured parties to make medical decisions that will not guarantee a speedy or complete recovery. In the case that an insurance company from the at-fault party refuses to cooperate, it is important that you get the services of a top auto accident attorney that can compel the information from the insurance company.
Finding the right auto accident attorney
In order to find the right auto accident attorney for you, it is important that you retain a firm that has experience in your type of situation. If you are in the Ft. Collins area, consult with a top Fort Collins auto accident attorney who has experience with all types of auto accident cases.
Getting into an auto accident can be a traumatic and trying experience. Therefore, it is important that you know what steps you need to take to resolve the matter as quickly as possible. While the new law is designed to make things easier for you, do not hesitate to retain the services of a top auto accident attorney if you need further assistance.
