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Colorado Drivers Face Higher Car Insurance Fees

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Dec 29, 2008 8:46 pm US/Mountain

Colorado Drivers Face Higher Car Insurance Fees

Written by Paul Day
Reporting
Paul Day
DENVER (CBS4) ― Colorado drivers have a choice next month -- pay attention or pay up. Starting in January, all car insurance companies in the state are required by law to offer medical payment coverage worth $5,000.

For most folks, the only way they'll learn about the new requirement is by carefully reading their renewal notice for 2009 premiums arriving in the mail.

"I know it's real easy to say boring stuff, throw it out." said Cathy Rosset, a spokeswoman for the Rocky Mountain Insurance Information Association.

But Rosset says drivers really do need to pay attention to the renewal notices.

"Because if you don't, you're going to have an extra charge put on your policy," she said.

Passed by the state legislature, Senate Bill 08-11 is expected to tack on an average $60 to the premium of any driver who currently does not have medical payment coverage.

The law takes effect Jan. 1.

While drivers are not required to buy the additional coverage, it's their responsibility to "opt out" if they don't want it. That means filling out, signing and mailing back a special form that is sent along with the renewal notice.

"You need to let them know, otherwise by law they're required to add it on," Rosset said.

Medical payment insurance will cover the cost of medical bills whether a driver caused an accident or not.

Still, the new law gives people a choice. There may be good reason to opt out if someone is already comfortable with their health insurance, their deductible and their co-pays.

"If there's the chance there's going to be something they have to pay out of pocket, it should be up to them to decide," Rosset said.

More than two thirds of all Colorado drivers currently don't have medical payment coverage. They are the ones who must decide if it's worth the additional $60 or so per year. Drivers that already have medical payment coverage will probably not notice much of an increase in their car insurance premium for 2009.

"Call your agent to make sure you're making the right decision," Rosset sadi.

(© MMIX CBS Television Stations, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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