The minimum required liability limit in Colorado is $25,000. However, it’s important to understand your rights with regard to Uninsured Motorist (UM) coverage because this coverage will also apply as Underinsured Motorist coverage in the event that the party at fault was not carrying enough insurance to cover all your damages. There are, however, important requirements necessary to preserve your claim including the need to secure consent to the underlying third party liability settlement from your insurer prior to settling. It’s also possible that multiple policies may apply as in the case when the claimant resides with a family member that has a separate policy including UM. Finally, additional insurance coverage may be available including required medical payments coverage on the accident victim’s own policy as well. This highlights the significance of retaining experienced legal representation if you’ve been involved in an accident in order to ensure that the accident victim takes advantage of all applicable forms of insurance coverage.