Auto insurance is a requirement for all Colorado drivers, but about 1 out of every 7 drivers still drives without insurance. In Colorado, there are minimum insurance coverage requirements that must be met. For a policy to meet minimum coverage requirements, it must provide at least $25k per person, $50k per accident for bodily injury and $15k for property damage per accident. Auto insurance companies are also required to offer UM/UIM coverage, although drivers can waive this coverage.