While there is no question that a homeowner’s health insurance policy and life insurance coverage for a family should be updated immediately with the birth of a new child, the same can’t quite be said for a Wheat Ridge, CO homeowner’s insurance policy. The general position on the matter tends to be that a homeowner’s policy is focused on the home and its structure as well as associated property risks, not necessarily the addition of a new house-member. The above said, a growing family can impact the amount of personal property covered by a home policy as well as trigger renovations and changes to make accommodations for children or moving in relatives.

When any kind of a construction-type change is being made to a home, even for a family addition, the homeowner’s policy should be updated. Additionally, the expansion of family is going to increase the amount of personal property that needs to be protected, according to the experts at the CO Insurance Specialist. While clothing may not necessarily be a big issue to cover, furniture, electronics and additional appliances definitely should be addressed. Homeowners need to think in terms of what the additional material means to the total dollar figure needed for a disaster recovery, and then they should compare that with the figure that covers personal property loss in the current policy. More than likely, the figure will need to be increased as some point to fully address a larger family’s needs. And remember, flood insurance is separate from home insurance, but it’s the same situation in terms of adjustments.

To find out more about how a growing family indirectly affects a homeowner’s policy in the Wheat Ridge, CO area, the CO Insurance Specialist team is available both by email and phone or even in person to answer questions.

You’ve purchased a new home and want to protect it.  Colorado Insurance Commissioner Marguerite Salazar says, “Don’t make any assumptions.  Take the time now to learn about your homeowner’s insurance.  Don’t wait for disaster to strike.”  That’s good advice that every Wheat Ridge, CO homeowner should follow.  While you may not be legally mandated to carry homeowner’s insurance, many lenders will require you to purchase insurance to protect their interests in the property.  The lender will specify the coverage amounts that they deem appropriate and how they prefer for proof of coverage to be submitted to them. 

Another recommendation is to make a list of the contents of your home.  According to a survey by the National Association of Insurance Commissioners, more than half of American homeowners do not have an inventory of the home’s contents.  Without this inventory, homeowners cannot be sure that they have the best coverage for their home and its contents.

Homeowners insurance is designed to protect the owner from damaging events.  It can also protect the homeowner from liability if someone is hurt while on the property.  It’s important for homeowners to fully review their policy so that they understand what it covers and what it doesn’t.  If there are any questions, it’s important to discuss them with the agent.   If gaps are discovered, additional coverage may be needed.  This is particularly important for items such as jewelry or antiques.  The agent will be able to discuss what is most appropriate for your situation. 

Today is the perfect day to come by and visit with your local CO Insurance Specialist.  To get started, you can visit our website and use our online quoting tools.  Then call a CO Insurance Specialist to get covered.

Plumbing leaks and related disasters typically don’t happen out of the blue. A typical home plumbing system in Wheat Ridge, CO is under pressure with forced water fed by a city or county water municipal system. As a result, when a leak occurs, the pressure continues to work at it constantly, making what would normally be the passing of a few drops far more within a bit of time. Eventually, the pressure overcomes the joint or leak break, and bursts through as the leak becomes weaker than the rest of the pipe line.

Fortunately, plumbing systems are considered internal to a home and part of its inherent structure. So an original plumbing system for a home that has a bad leak burst flooding a room would likely be covered or addressed under most homeowner’s insurance plans and their language.

However, a home with a modified plumbing system, such as a water treatment or filtration system connected would change the nature of the home’s original plumbing. And changing the nature of the water mineral content can have significant effect on the lines. Unless the policy provider was updated with the change, a claim denial could occur when it’s found that a modified system had a disastrous leak. So any major plumbing changes need to be noticed and updated after installation, not after the line break and repair.

For those in the Wheat Ridge, CO region who have questions about bad water leaks, internal flooding, and plumbing, expert answers can be obtained from the CO Insurance Specialist. Their team of agents and staff have experience with a variety of plumbing issues as well as how different homeowner’s insurance package work and what they cover. Don’t wait for a plumbing accident to be your learning experience about home leaks and coverage. Find out by calling the CO Insurance Specialist today.

Many insurance companies offer discounts to homeowners who take proactive measures to improve their home security. By upgrading your home security, you can discourage thieves and burglars from targeting your property in the first place, much less gain entry into your abode.

Before instituting security measures on your property, talk to a CO Insurance Specialist in Wheat Ridge, CO, to determine what measures qualify you for discounted insurance prices. Here are just a few ideas to help you get started:

Security System

A home security system comprised of sensors on windows and doors, security cameras, and a high pitched alarm can be a great deterrent against thieves. Many homeowners utilize a system that connects sensors around windows and doors with an alarm that is triggered when someone tries unlawfully to enter the home. Surveillance cameras in the entryway as well as in the front and back of your property will make thieves think twice before targeting your home.

Motion Sensor Lights

A dark house at night gives the impression that no one is home, making it an easy target for thieves and vandals. By installing motion sensor lights around your property, you can be alerted when people are approaching at night so as not to be caught off guard. Once lights come on, would be thieves are more likely to leave than risk being caught on camera or detected by you or neighbors. 

Security System Advertising

Placing a sign on a window or in your yard advertising that your home is protected by a security system is yet another deterrent that can discourage thieves from targeting your home.

To learn more about home security upgrades that can make you eligible for a discount on your home insurance, contact one of our agents at CO Insurance Specialist in Wheat Ridge, CO.

 

 

If you walk into your home and realize your home has been burglarized, your heart will likely sink in your chest and you will feel upset and violated. However, once these feelings begin to subside, you will need to contact your homeowner’s insurance company. They can cover the value of the items that were stolen so you can move on with your life. Here is some information you should know as you prepare to file a homeowner’s insurance claim for a home burglary.

You Will Have to Cover Your Deductible

When you file a claim for burglary, you will likely have to cover the deductible before your policy kicks in. If the value of your items stolen was $2,000 and your deductible is $500, you will only receive $1,500 as your claim is adjusted to compensate for the deductible.

You Receive the Value of the Items, Not What You Paid for Them

Another important factor to keep in mind is that you will only receive the value of the items, not what you paid for them. For example, you may have paid $1000 for a laptop two years ago. But that is not what the laptop is worth today. It may only be worth half of that, or less. You will receive the amount it will cost to purchase a two year old used laptop, or the fair market value of the item, not the amount you paid for the item when it was new.

There Are Limits to What You Can Claim

Lastly, you need to keep in mind that there are limits to how much you can claim. Your policy typically will say that items over a certain amount, such as jewelry or art, need to be carried under a separate policy or be appraised before they can be insured. Your policy will also have a limit to the value of the items you can claim, such as $50,000 or $100,000. Always read over your policy carefully to find out about the limits and restrictions of your policy.

When you are getting a homeowner’s insurance policy, it is important that your coverage is set to a value that is high enough to cover your belongings in the event of a home burglary. If you are not sure if you have the right coverage, or are looking for a new policy and need to know how much coverage you need, contact CO Insurance Specialist, serving the greater Wheat Ridge, CO area. We would love to help you determine what your coverage needs are and then draw up a policy that best fulfills your needs.