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Author: agentinsure

Does My Colorado Home Insurance Policy Cover Natual Disasters?

Posted on by agentinsure

Natural disasters are devastating and often unexpected. It’s a horrible feeling to find out that your home insurance policy won’t help you rebuild after a disaster, which is why it’s a good idea to know what your policy covers in advance. Insurance policies can vary greatly in what they cover, so if you already have home insurance, it’s a good idea to contact your insurance company. If you don’t have a policy yet, get in contact with CO Insurance Specialist, which serves Wheat Ridge, CO, to find out what most policies cover and to learn if you can get special coverage for specific circumstances.

Is Fire Covered?

Most policies will pay out to repair or replace anything that’s been damaged inside your residence by smoke, flames, ash, soot, and water, according to the Colorado Department of Regulatory Agencies. Your insurance company will likely ask for an inventory of items, as they’re only required to pay for personal property that you can prove you owned at the time of the disaster. This is why it’s a good idea to make an inventory of your belongings, and this advice applies to any type of natural disaster preparation.

Are Floods Covered?

If there’s water damage from a broken pipe, your policy will likely pay for the damages. However, homeowner’s insurance doesn’t cover flood losses. For protection against flood damage, you need to get flood insurance through the National Flood Insurance Program.

Are Natural Disasters Such as Tornados, Earthquakes, and Hail Covered?

Earthquake damage is usually not covered under a standard policy; you’ll have to add on earthquake coverage separately. Tornado damage is usually covered by a standard home insurance policy. Damage from hail storms and windstorms are usually also covered under a standard policy, so you probably don’t have to purchase additional coverage.

There are many other scenarios that could occur, such as landslides, nuclear accidents, war, sinkholes, and drone crashes. If you have specific concerns you want to address, call CO Insurance Specialist, which serves Wheat Ridge, CO, for more information.

Comprehensive Coverage for Your Classic Car While it is In Storage

Posted on by agentinsure

The agents at your local CO Insurance Specialist are here to help you keep your classic car protected, whether you have it at home, on the road, or in a storage facility. We are dedicated to meeting all of the insurance needs of our clients in the greater Wheat Ridge, CO area, whether they require coverage for their home, boat, recreational vehicle or classic car. Owning a classic car can take a lot of commitment and investment, especially if you opt to restore a car to its original condition. In many ways, classic cars are a lot more than just a hobby, but also an investment of both time and money. 

Having your classic car stored at a facility rather than at your home might change some of the coverage that you may otherwise have in place with your homeowner’s policy. It is important that the proper coverage is in place, ideally before you relocate that automobile to the offsite storage facility. Classic cars generally require additional insurance coverage, even when kept at the owner’s primary residence, and it is important that your classic car has the adequate level of insurance coverage in place.

Classic cars are often irreplaceable due to the scarcity of older cars, and their value often exceeds the limit of single-item coverage levels that are associated with primary homeowners’ policies. Do not let an incident at your storage facility destroy your classic car and all of its value!

If you are considering adding a classic car to your collection or would like to review the coverage of your current fleet to ensure that is adequate, the agents at CO Insurance Specialist are available to meet the needs of classic car collectors in the greater Wheat Ridge, CO area.

Does it Cost More to Insure a New Car?

Posted on by agentinsure

When it comes to putting insurance on your car, there are many things to think about. First and foremost, you need to take into consideration the level of coverage that you need based on local laws and regulations. For example, some states require by law for you to have a certain level of coverage. On the other hand, some states don’t have this requirement in place. And while you might think that it will cost more to insure a new car, there are actually several other factors that will influence that amount of money that you pay for coverage. 

Do you have traffic violations?

The more traffic violations you have on your record, the more you are going to pay for insurance coverage, and this especially applies if you have violations related to driving while under the influence of alcohol or drugs. Having speeding tickets on your driving record will also negatively impact the amount you pay for insurance. This is why it is so important for you to be careful and cautious while driving and do your best to avoid getting any traffic violations. 

Do you have a lien on your new car?

Another factor that will impact the level of coverage you need on your new car is whether or not the car is financed. If it is financed through a lender, then the lender will likely mandate that you keep full coverage insurance on the car. If it is not financed, then you may be able to get away with only a minimal amount of coverage. Still yet, a new car deserves to be properly protected with full coverage. 

To learn more about putting insurance on a new car, please don’t hesitate to reach out to CO Insurance Specialist serving the Wheat Ridge, CO area. 

What Are the Benefits of Commercial Insurance?

Posted on by agentinsure

Commercial insurance is a must for any business owner that has any business of any size. Though smaller in home businesses are often covered on your homeowner’s policy, for those that have larger businesses and even storefronts, it is essential that they have a larger, commercial policy in place. For those in the Wheat Ridge, CO area, the agents with CO Insurance Specialist can help you find the policy that fits your needs.

So what are some of the numerous benefits of commercial insurance?  The first is that you can protect your inventory, employees, building, and property all at the same time while making sure your home and personal assets are also protected. This means that even if something happens to your business, or if you are sued, or if an employee is injured or a patron is injured, you are protected. This is essential for those that have a business and a home as well as personal assets to help make sure that your personal life stays separate from your work life and that you can recover from events that may transpire.

For those that do own a business, commercial insurance can not only protect you, it can also protect your business. Inventory is expensive as is paying medical bills should someone get injured on your property. It is also important to remember that if something like a fire or a natural disaster ruins your store, you are going to have to replace not only inventory but the building itself. Commercial insurance works as a safety net of sorts that can help you to be sure you are going to be safe no matter what.

For those that live in the Wheat Ridge, CO area, the agents with CO Insurance Specialist can help you find your perfect policy.

Tips for Purchasing a Used Car

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If you’re deciding to buy a new used car, you have a lot to consider. A representative from CO Insurance Specialist, serving Wheat Ridge, CO, and the surrounding area, will discuss with you what you should consider with your insurance policy. We also have advice regarding the selection process.

1. Get an Accident History

The vehicle might have been in a major accident but never received an "R" title because the damage wasn’t that extensive. Do you want a vehicle that has been in an accident? Those repairs may not have been done by a reliable restoration company, and you could experience problems with the car for years to come. Check the car’s history, which you can do online through a few reliable sites. 

2. Be Suspicious 

If the vehicle is making a noise, don’t let the dealership or previous owner tell you it’s a minor repair. Unless you know for sure what the issue could be, remain leery of anyone who is selling a car and tells you it’s not a big deal. At this point, you should have a mechanic look over the vehicle before you take the risk, as long as the previous owner approves. If the owner doesn’t approve, walk away from the deal because it’s a sign they’re hiding something. 

3. Test Drive

Don’t think because a vehicle is newer or looks nice and sounds nice when it starts that it doesn’t have any problems. Looks and startup noises can be deceiving. Take the vehicle for a test drive and make sure you listen for weird noises and take into consideration how the vehicle handles and feels when you’re driving. 

Once you decide on the vehicle for you, get insurance on it immediately and keep that insurance policy. CO Insurance Specialist, serving Wheat Ridge, CO, and the surrounding area, offers you options for car insurance for your used vehicle. Contact us at 720-638-0850 for a quote. 

Getting Your Car Ready For Winter

Posted on by agentinsure

You paid a great sum to buy that precious car of yours. Maybe you even built it from the ground up with care. Here in Wheat Ridge, CO especially, you’ll want to check below for some ways to improve your car’s performance and safety this winter. Here are the top 5 tips from CO Insurance Specialist.

1. Make Sure You Have Emergency Supplies

If you happen to have an emergency in the winter, you will want to have a few key items in your possession. Be prepared by keeping jumper cables, a cell phone, a flashlight, snacks, warm blankets, water, reflective triangles, a tow strap, and a first-aid kit in your car at all times.

2. Check Up On Your 4WD

A properly-working 4WD is a winter essential here in Wheat Ridge, CO. You’ll want to have it examined by a mechanic well before the snow falls to ensure that it’s working properly. Also, if you need to brush up on exactly how to use your 4WD, now is the time to do it.

3. Check Your Battery

Cold weather takes a toll on car batteries. Ensure that your car will start on cold winter mornings by taking it to get checked by a mechanic.

4. Think About Snow Tires

To reduce slippage on an icy road, snow tires will do the trick. Trade your all-seasons for these winter wheels which are specially-designed to grip snow and ice.

5. Take A Look At Your Belts and Hoses

In cold weather, belts and hoses can become weak. Get them checked out to ensure that your engine will run smoothly during winter storms.

If you have any questions about insurance this winter, contact our friendly agents at CO Insurance Specialist today.

Understanding Business Interruption Coverage

Posted on by agentinsure

Many business owners purchase a property or business liability policy and assume they are adequately covered. However, failing to buy a business interruption policy, a business may not be able to survive a severe loss.

When a business suffers a loss such as damage from a fire or a storm, the business may not be able to operate at full capacity if at all. In addition, the company may incur additional expenses such as moving to a temporary location within the Wheat Ridge, CO area. While your property coverage will cover the cost to replace the damaged property, a business interruption policy will help your business cover expenses and any additional costs you occur as a result of the loss.

If your business can be back up and running at 100% capacity quickly then you should speak to your insurance agent st CO Insurance Specialist about gross earnings or limited coverage. Gross earning coverage pays for expenses up until the day you start operating again and does not take into consideration pre-loss income levels.

If your business does not have a financial cushion or it would take a long time to get back up to pre-loss income you should consider extended coverage. Extended coverage will cover you until you are back up to your pre-loss revenue levels. Of course, there is a time limit, and coverage will end after a certain period.

There are also add on coverages such as payroll, accounting fees and contingency coverage options available.

No matter what type of business you operate,  you should make sure you are covered for expenses in the event of a loss. A specialist at CO Insurance Specialist can meet with you to review your business operations and help you decide what type of business interruption policy will work for your business. We proudly serve the Wheat Ridge, CO area.

 

 

 

5 Tips to Buying Commercial Insurance

Posted on by agentinsure

Buying commercial insurance for your startup business in Wheat Ridge, CO can be a challenge. At CO Insurance Specialist, we recognize the importance of getting accurate insurance coverage to protect your assets in Colorado. Here are a few tips to help guide you through the insurance process.

Assess Your Risks

Before you decide on insurance coverage, you need to assess your risks as a business. This will help you determine the type and amount of coverage you need. By consulting with a CO Insurance Specialist agent, you can get a better picture of how specific policies can work on your behalf as well as how you can save money on your premium without compromising your coverage.

Educate Yourself about Insurance Types and Coverage

As a new business owner, it’s imperative you become familiar with commercial insurance options and costs. A commercial insurance package may include coverage for liability, property damage, business interruption, workman’s compensation, and more. By understanding your options, you can obtain personalized coverage geared to your specific needs.

Shop Around

Commercial insurance coverage and costs vary from one company to the next. Shopping around gives you a better picture of what different insurers have to offer. Keep in mind that insurers that specialize in your type of business may offer better coverage at competitive costs.

Don’t Compromise Coverage for Costs

Be leery of compromising insurance coverage for a low price. By doing your homework, you can find an insurance package to adequately protect your business at a cost you can afford.

Work with a Reputable Broker

Working with an experienced broker can alleviate the confusion and stress of finding commercial insurance for your small business. At CO Insurance Specialist, we’re committed to helping small business owners in Wheat Ridge, CO obtain the comprehensive insurance coverage they need at affordable costs. Reach out to our agents to learn how to get started.

Why Your Vintage Vehicle Changes Need an Appraisal Update for Coverage

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Classic cars and vehicles continue to have lots of popularity and fans generation after generation in Wheat Ridge, CO. However, if they are going to be operated on public roads, they still have to be insured. With normal cars this is not a problem; most auto insurance companies have predetermined lists for the likely value of most common vehicles dating 20 years back. However, when the vehicle is 30 years or older, it starts to go into what is known as vintage or classic status. As a result, a number of factors then come into play such as collectibility, rarity, condition and more. Insurers generally don’t have such expertise or reference guides for each and every older vehicle, so they rely on licensed appraisals to estimate coverage value.

When a vehicle owner makes changes or adds additional components to a classic car, it changes the value of the vehicle. And that matters because if the car is damaged then there is a discrepancy between the value to repair it and the amount of coverage that will be provided by a vehicle insurer. And as any vintage car owner in Wheat Ridge, CO knows, finding repair services and parts for classic cars can get expensive. So it’s critical to get a second appraisal when there are major changes on a vehicle and it needs to be protected.

The CO Insurance Specialist staff can help in explaining the vehicle appraisal process and related requirements. They are well-versed in how insurance providers estimate value and what is needed to both develop and update a vintage car policy. That helps avoid mistakes as well as clarify when a car owner needs to update coverage information.

 

 

Hotels Need High-Quality Commercial Insurance

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We at CO Insurance Specialist have seen too many promising hotels close due to poor insurance coverage. Many new Wheat Ridge, CO hotel owners don’t understand the importance of proper hotel insurance and how it can benefit their business in a major way.

Liability Insurance Is Crucial

When you run a hotel, you are constantly under the threat of something happening to one of your guests. For example, they may fall and crack their head near your pool. General liability insurance helps protect you in these serious cases and provides you with the comfort you need to know your business won’t close down due to a silly accident.

Medical Insurance

Your employees deserve high-quality insurance for their healthcare needs. There are many commercial insurance policies that you can purchase to protect them. These group policies may even be tweaked for specific hotel needs. As a result, you need to talk to your insurance specialist right away to learn more.

Disability And Unemployment Policies

These types of insurance policies are necessary for hotel owners because they protect them when their employees are unable to work. For example, unemployment insurance helps pay partial wages when workers are laid off during the slow times of the year.

Cyber Insurance

Does your hotel have wireless internet for your customers? Or maybe you have an online booking portal that you rarely think about running? If so, you need to get cyber insurance right away. These policies ensure that the dangers of hacking are minimized for you and your guests.

Keeping Your Hotel Safe

If your Wheat Ridge, CO needs the kind of protection we mentioned above, then contact us at CO Insurance Specialist. Our specialists will find policies that work for your needs and help you find one that won’t cost you too much money.

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