No, you do not need rental car insurance in Colorado. Rental car companies in Colorado provide the minimum state-required liability insurance coverage: $25,000 in bodily injury liability insurance per person ($50,000 per accident) and $15,000 in property damage liability coverage per accident.
If you have a personal car insurance policy that includes other types of coverage (like collision or comprehensive insurance) or liability limits that are higher than what your state requires, the extra protection will extend to your rental car. But if you don't have auto insurance coverage of your own, it may be a good idea to purchase additional coverage from the rental company.
For example, you can purchase a collision damage waiver, which provides coverage comparable to collision and comprehensive insurance. This type of coverage may even apply automatically if you pay for your rental with the right credit card and reject the collision damage waiver from the rental company. You can also purchase supplemental coverage that adds to the existing liability and medical payments limits from your personal policy.
To learn more, check out WalletHub's complete guide on rental car insurance.
This answer was last updated on 01/24/24 and it was first published on 07/20/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
