Before January 1, 2008, an insurance company could refuse to pay the full coverage under an insured's policy through an "offset" of the amount paid by the at-fault driver's insurance company. Insurance companies were also able to use language in their policies that prevented an insured who had multiple cars and multiple policies to add, or "stack," their own insurance. This meant that seriously injured people in this state could not benefit from all of the coverage that they purchased.
Under the new law, UM "setoff" and stacking provisions are illegal for policies issued or renewed in Colorado as of January 1, 2008. This important change in Colorado law means that you will finally get the full coverage that you paid for. Carrie Frank, a member of the Board of Directors of the Colorado Trial Lawyers Association, worked with others to make sure that Colorado drivers get the full benefit of the insurance coverage that they purchased.
To get in touch with an attorney at Klein Frank, P.C., please call (303) 448-8884.