C.R.S.
Section 10-4-512
Nonduplication of recovery
(1)
Any person having a claim against an insurer under any provision in any insurance policy that is also a covered claim shall exhaust first the person’s right under such policy. Any amount payable on a covered claim under this part 5 is reduced by the amount recoverable under such insurance policy.(2)
Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured; except that, if it is a first-party claim for damage to property with a permanent location, recovery shall be sought from the association of the location of the property, and, if it is a workers’ compensation claim, recovery shall be sought from the association of the residence of the claimant. A claimant or first-party insured who has received a recovery from any other guaranty association or its equivalent in an amount equal to or greater than the recovery allowed under this part 5 shall not be eligible to receive any recovery from the Colorado insurance guaranty association. In addition, any recovery under this part 5 shall be reduced by the amount of the recovery from any other insurance guaranty association or its equivalent.
Source:
Section 10-4-512 — Nonduplication of recovery, https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-10.pdf (accessed May 26, 2025).