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Colorado Private Passenger Automobile Insurance

SUMMARY DISCLOSURE FORM

This summary disclosure form is a basic guide to the major coverages and exclusions in your policy. It is a general description. It is not a policy of any kind. All coverage is subject to the terms, conditions, and exclusions of your policy and all applicable endorsements.

PLEASE READ YOUR POLICY FOR COMPLETE DETAILS. THIS SUMMARY DISCLOSURE FORM SHALL NOT BE CONSTRUED TO REPLACE ANY PROVISION OF THE POLICY ITSELF.

Complete details include, but are not limited to, information on the method we use to calculate your unearned premium (e.g., pro rata or short rate) if you should cancel your policy before the next renewal. This summary disclosure form also provides some of the factors considered for cancellation, nonrenewal, and increase in premium. These factors are general in nature. They do not represent the only reasons a policy may be cancelled or changed. Please contact us or your agent for further information.

I. REQUIRED COVERAGES

Colorado law requires you to have liability coverage on your automobile. This coverage pays bodily injury to another person and property damage to another’s property that are a result of an accident in which you are found to be at fault.

Coverage is not provided for any automobile owned by you or a resident relative that is not insured for liability under your policy. There is no coverage for intentional acts.

Please read your policy for other conditions and exclusions.

II. OTHER COVERAGES

A. Uninsured and Underinsured Motorist Coverage

Uninsured and underinsured motorist coverage will be included in your policy unless you reject it in writing.

Uninsured Motorist coverage pays for your bodily injury damages that are a result of a not at-fault accident with an uninsured or hit-and-run driver.

Underinsured Motorist coverage pays for your bodily injury damages that are a result of a not at-fault accident with an underinsured driver. A motorist is considered underinsured if his or her liability coverage is not enough to pay the full amount you are legally allowed to recover as damages.

Please read your policy for other conditions and exclusions.

B. Physical Damage Coverage – Collision and Comprehensive

You must be offered collision coverage.

Collision coverage pays for damage to your own automobile when it collides with another automobile or object. It also pays if your automobile overturns.

Comprehensive coverage pays for damage to your automobile from causes such as fire, theft, vandalism, hail, and falling objects.

Collision and comprehensive coverage may be written with a deductible. A deductible is the part of a loss that you will pay. We will pay for the balance of covered repairs subject to your policy provisions. A lender may require you to purchase both collision and comprehensive coverage.

Coverage does not apply to losses that occur while your automobile is rented or leased to others. There is no coverage for wear, tear, freezing, mechanical failure or breakdown, or road damage to tires.

Please read your policy for other conditions and exclusions.

C. Medical Payments Coverage

Medical payments coverage of $5,000 will be included in your policy unless you reject it. You may reject the coverage in writing or in the same method in which you applied for the policy.

Medical payments coverage is not required to be offered on motorcycles, low-power scooters, off-road vehicles, or other miscellaneous vehicles.

Medical payments coverage pays for your and your passengers’ reasonable health care expenses incurred for bodily injury caused by an automobile accident.

If you are in an automobile accident, your medical payments coverage will pay before your health insurance coverage.

Medical payments coverage will apply toward health coverage coinsurance or deductible amounts.

We must prioritize the payment of your benefits in a manner consistent with Colorado insurance law.

Injuries to you that are the result of an at-fault accident will not be paid under an automobile insurance policy unless medical payments coverage is purchased.

Please read your policy for other conditions and exclusions.

D. Uninsured Motorist Property Damage Coverage

This coverage pays for damages to your automobile caused by an at-fault owner of an uninsured automobile.

This is an optional coverage you can request if you do not have collision coverage on your automobile.

This coverage will not apply if the automobiles do not make physical contact.

This coverage only pays actual cash value of your automobile or cost of repair or replacement, whichever is less.

Please read your policy for other conditions and exclusions.

III. CANCELLATION, NONRENEWAL AND INCREASE IN PREMIUM

A. Cancellation

During the first 59 days, your company may cancel your policy for any reason not prohibited by law. After your policy has been in effect for more than 59 days, we may cancel your policy for any of the following reasons:

    1. Nonpayment of policy premium; or
    2. Knowingly making a false statement on your application for automobile insurance; or
    3. A driver’s license suspension or revocation; or
    4. Knowingly and willfully making a false material statement on a claim under the policy.

B. Nonrenewal

We may choose to non-renew your policy. Some examples of reasons for nonrenewal include, but are not limited to:

    1. An unacceptable number of traffic convictions;
    2. An unacceptable number of at-fault accidents; or
    3. Conviction of a major violation such as drunk driving or reckless driving.

C. Increase in Premium

We may increase your premiums for the following reasons:

    1. Change of garage location of the automobile;
    2. Change of automobile(s) insured;
    3. Addition of a driver;
    4. Change in use of your automobile;
    5. A general rate increase. This results from the loss experience of a large group of policyholders rather than from a single policyholder. A general rate increase applies to everyone in the group, not just those who had a loss.

 

The above list of reasons is not all-inclusive. There may be other changes that result in an increased premium.

We may add a surcharge or remove an accident free discount because of an at-fault accident or traffic conviction. Under this circumstance, you will receive a statutory right to protest this action.

Insurance Policy Coverages and Exclusions: A General Description

For informational purposes only. Not all provisions of this outline apply to your policy.

Colorado Law requires Insurers to provide policyholders with a copy of this information. This outline does not change your insurance policy.

Colorado Homeowners, Renters, and Condominium Owners Disclosure Form

This disclosure form is a basic guide to the major coverages and exclusions in your policy. It is only a general description and not a contract or a policy of any kind. All coverages are subject to the terms, conditions, special limits and exclusions of your policy and all applicable endorsements.

PLEASE READ YOUR POLICY FOR DETAILS! In the event of any conflict between the policy and this disclosure form, the provisions of the policy shall prevail.

This disclosure form also provides some guidelines on cancellation, nonrenewal, increase in premium and changes in coverage. These factors are general in nature and do not represent the only reasons a policy may be terminated or changed. Please contact your agent or company for further information.

I. BASIC COVERAGE – HOMEOWNERS

Homeowner’s policies include two basic sections. The first section provides protection for your home and your personal property. The second section provides protection for you when you’re legally responsible (at fault) for an accident you have caused. It also includes medical payments coverage for persons, other than you or members of your household, who are injured in an accident that happens on your property. Homeowner’s policies do not cover automobiles.

A. Homeowners – Property

WHAT IS COVERED:
Your policy will pay for loss or damage to your house, your furniture and other personal belongings when caused by the losses shown in the attached chart. Only limited coverage is provided for jewelry, silverware, furs, business property and other valuables.

Most policies have a deductible. The deductible is the amount of the loss that you, the policyholder, are responsible for paying. Your insurer will pay for the rest of the covered loss, up to the limit shown in the declarations or policy language.

Your policy will also pay for additional living expenses if a covered loss renders your home uninhabitable and you must temporarily live elsewhere. This coverage pays, for a specified period, for reasonable and necessary extra living expenses you incur over what you would have normally spent to maintain your standard of living if no loss had occurred.

EXCLUSIONS – WHAT IS NOT COVERED:
The policy does not provide coverage for all possible losses. The following are examples of some of the losses that are NOT covered:

    1. Loss or damage that an insured intentionally causes;
    2. Flooding, earth movement, settling, cracking, bulging, shrinkage or expansion of the structure, other structures or of pavements, driveways or sidewalks;
    3. Pollution and contamination;
    4. Birds, vermin or house pets;
    5. Wear and tear.

B. Homeowners – Personal Liability

WHAT IS COVERED:
Your policy pays for bodily injury and property damage to another’s property for which you or a member of your household is legally responsible (at fault). This includes the cost of defending you or a member of your household in a liability lawsuit.

EXCLUSIONS – WHAT IS NOT COVERED:
The following are examples of some of the liability exclusions:

    1. Any loss that an insured intends or should expect to happen;
    2. Bodily injury to an insured person or property damage to an insured person’s property;
    3. Damage which results from the ownership or use of an automobile and other types of motorized land vehicles, aircraft or certain watercraft;
    4. Liability resulting from the transmission or exposure of communicable disease or sexual molestation.

II. BASIC COVERAGE – RENTER’S POLICY, DWELLING FIRE AND CONDOMINIUM OWNER’S POLICIES

A. Renter’s Policy

A renter’s (or tenant’s) policy provides coverage for your personal property and for your personal liability in the same way that a homeowner’s policy does. The general coverage for the causes of loss shown in the attached chart is the same under a renter’s policy; however, the building you live in is not covered. The amount of protection you choose will depend upon the value of the personal property you wish to insure.

B. Condominium Unit Owner’s Policy

A condominium unit owner’s policy is similar to a renter’s policy in that it provides coverage for your personal property and personal liability. It differs, however, in that it also provides coverage for building items, including additions and alterations you make to your unit, that are your insurance responsibility under the governing rules of the condominium association. There may also be coverage for loss assessments levied on the unit owners by the condominium association.

C. Dwelling Property (Fire) Policy

A dwelling policy provides protection for your home and your personal property. It does NOT provide protection for you and other insured persons who are legally responsible (at fault) for an accident that injures someone or damages the property of others. It also does NOT include medical payments coverage for any person who is injured. A dwelling policy does not cover automobiles.

WHAT IS COVERED:
Your policy will pay, up to the policy limits, for loss or damage to your house, your furniture and other personal belongings when caused by covered losses (see attached chart).

Most policies have a deductible. The deductible is the amount of the loss you are responsible for paying. Your insurer will pay for the rest of the covered loss up to the policy limits.

Your Broad Coverage or Special Coverage policy will also pay for additional living expenses if a covered loss renders your home uninhabitable and you must temporarily live elsewhere. This coverage pays, for a specified period, for reasonable and necessary extra living expense you incur over what you would have normally spent to maintain your standard of living if no loss has occurred.

WHAT IS NOT COVERED:
The policy does not provide for all possible losses. The following are examples of some of the losses that are NOT covered:

    1. Loss or damage that an insured intentionally causes;
    2. Flooding, earth-movement, settling, cracking, bulging, shrinkage or expansion of the structure, other structures or of pavement, driveways or sidewalks;
    3. Pollution;
    4. Birds, vermin or domestic animals;
    5. Wear and tear;
    6. Theft of real or personal property; however, your Broad Coverage or Special Coverage policy will pay for any damage caused by a burglar (see attached chart).
    7. Loss to certain kinds of personal property like money, coins, credit cards and stamps.

III. CANCELLATION, NONRENEWAL, INCREASE IN PREMIUM AND CHANGES IN COVERAGE

A. Cancellation and Nonrenewal

You may cancel your policy at al)y time by writing to or notifying your company and indicating the date the cancellation is to take effect.

Your company may choose to cancel or nonrenew your policy. If your policy is cancelled or nonrenewed, you will receive advance notice. Some examples ofreasons for cancellation and nonrenewal include, but are not limited to:

    1. Failure to pay your premium when it is due;
    2. Knowingly making a false statement or a material misrepresentation on your application for your policy;
    3. An unacceptable number of claims;
    4. A substantial change in the use or occupancy of the premises.

B. Increase in Premium

Conditions that may increase your premium include, but are not limited to:

    1. Change of use of your home or premises;
    2. A general rate increase. This results from the loss experience of a large group of policyholders rather than from a loss suffered by an individual policyholder. A general rate increase applies to many persons in the group, not just those who had losses.
    3. Adjustment for inflation. Some companies include inflation coverage in their policy. This coverage can automatically increase the amount of your insurance coverage as inflation pushes up the cost of replacing your home. The increases may be based on a construction cost index and may be reflected in the premium on each renewal date.

C. Changes in Coverage

A number of situations may change the insurance coverage you have. For example, you may choose to change the type of coverage you have, increase or reduce your limits or deductibles or add optional coverage. These factors are general in nature and do not represent the only reasons a policy may be changed.

Please contact your agent or company with any questions about changes in coverage that you wish to make or about changes that your company has made.

IV. LOWERING YOUR COSTS

Although the general classifications used by insurance companies to set rates may be beyond your control, it is possible to reduce the cost of your homeowner’s insurance without giving up necessary protection. Here are some tips:
Consider the Highest Deductible You Can Afford – Insurance should protect you from major losses. Choosing a higher deductible may result in lower premiums.

Check with Your Insurance Agent Before You Buy or Rent a New Home – Insurance rates are higher for some types of buildings.

Ask If You Are Eligible for Discounts – Some companies may offer discounts for characteristics which make your property subject to less chance of a loss. These may include discounts or credits for a new home, if you have had no recent losses, for being a non-smoker, if you are over a certain age or if your home has smoke alarms, automatic fire sprinkler systems and/or burglar alarms.

Compare Coverage, Premiums and Service When You Shop for Insurance.

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