Ski Rack Requirements In Colorado
Colorado Auto Insurance Minimum Requirements
|Auto Insurance Requirements in Colorado|
Proof of financial responsibility is important when operating a vehicle. Auto insurance provides this assurance that drivers or owners of vehicles can pay if the vehicle is in an accident. Knowing driving laws and insurance laws are recommended to obtain the best deal available.
Insurance Fraud in Colorado
According to the Coalition Against Insurance Fraud (CAIF), auto insurance fraud costs $12.3 billion annually. The cost is distributed in each customer’s premium. The most common type of insurance fraud consists of staged accident rings. Con artists can make accidents appear like the unsuspecting party's fault.
These rings may involve repair shops, tow truck companies, law offices, and health care facilities. Recently, several suspects were indicted in a Colorado auto insurance fraud ring. There were falsified estimates and also several fraudulent claims.
Several students were involved in the registration process of the vehicles used in the false insurance claims. There were$460,000 false claims filed.