No fault car insurance laws have proved very successful in many states, one notable exception to the rule being New York, and some states are actually considering scaling back their long held no fault car insurance laws, such as Colorado car insurance policy, which is just now hopping off the no fault band wagon. In 2003, the laws of Colorado were changed for the first time to allow for tort car insurance laws, and the policy holders of the state have mostly benefited. Some of have seen their car insurance premiums go down by as much as thirty percent. In the four years that the laws have been in effect, Colorado has seen state wide decreases of over forty percent, which is practically a record.

Colorado had no fault car insurance laws, which were laws that made it to where the medical of a person injured in a car accident was paid by their own car insurance company, and the other driver’s liability did not kick in until the personal injury protection of the injured driver ran out. This continued regardless of the fault of one driver over another. However, during this no fault time, car insurance companies were paying almost twice as much for car insurance medical claims and there was an overall thirty percent rise in rates.

In order to take care of the problem, the state of Colorado jumped into action and got rid of its abused no fault Colorado car insurance laws. Since then, rates have dropped at an incredibly fast rate, even though nationwide they have only gone down by a single percentage point.

Cheers,

Fashun Guadarrama.