Life Insurance: Buy Today, Don’t Wait for Tomorrow

You hear the ads on the radio and see the commercials on tv but how closely do you pay attention to the offers? Sometimes the death of a loved one will bring to mind the need for a life insurance policy but day to day it’s likely not your first concern. We’d like to remedy that. True, it can be an uncomfortable topic but let’s have the conversation. You may wonder why do I need life insurance? When should I buy life insurance? Where should I buy life insurance? Let us help guide you:

 

Why do I need life insurance?

 There are many ways for the benefits of your life policy to be used. Are you the breadwinner in your family? Without your income will your spouse and children still be able to maintain their lifestyle? A life policy can help take the financial burden off your loved ones and help to supplement your income. The funds can help keep your spouse on track with mortgage payments, pay property taxes and utilities – the uses are endless. Are you single without children? A policy can help to cover funeral costs or debts.

 

When should I buy life insurance?

    ASAP. Don’t wait to buy life insurance, buy it today. Not only is the future unpredictable but the younger you are when you buy a life policy the better the rates. Depending on the policy your health may also be a factor in determining coverage eligibility rates. Buying a life policy while you are healthy is going to be easier than trying to purchase life insurance if your health begins to deteriorate.

 

Where should I buy life insurance?

   It can be hard to know who to trust for your life insurance needs. Many employers may offer policies to their employees. This is great –  but what many don’t consider is what should happen if your job status should change? Often, we see that if you lose your job or decide to change jobs that the life insurance policy will end. We always recommend buying a life policy independent of the one offered whether it is in addition to or in replacement of the work offered insurance policy.

    We have some great options for life insurance coverage and are always happy to discuss this with you. You’ve entrusted us with protecting some of the most important aspects of your life -your home, your cars and your toys. Trust that we will use as much care with helping you decide what policy is best for you and your family.

 

We’ll make it easy to keep all your coverage in one place. Give us a call at 720-283-1722 for a no obligation life insurance quote today.

How To Save Money On Your Auto Insurance

When it comes to auto insurance, having options can be a very important way to save money. Putting money back in your pocket is one of our primary goals.  We know and understand the auto insurance market.  This allows us to provide you with the best possible combination of pricing, coverage and service.

Auto insurance rates

Auto insurance rates differ from company to company, so it really pays to have us shop your insurance. Some markets offer better rates for trucks, RV and campers, while others can offer better rates for motorcycles.

Auto premium savings

There are many things you can do to keep your auto rates at the lowest level possible.

Review your deductibles. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your Collision and Comprehensive costs by 15 to 20 percent.

Look for discounts. There are many different discounts offered by insurance companies. These include multi-policy, good student, and more.

The kind of car you own can have an impact on the insurance costs. Do some research about a car, before you buy it.

Is your coverage appropriate based on the type of car you have? If you have an older car it may benefit you to consider raising your collision deductibles.

Get your policy up to date. Have you experienced changes like a new address, divorce or marriage? Call us for a policy review.

At Colorado and Arizona Insurance we pride ourselves on building long lasting client relationships through honesty, integrity, professionalism, and a sincere commitment to ensure you and your family are properly protected from life’s unplanned disasters…We truly believe we serve our community’s families better than anyone. We believe this because we focus our energy and resources on our client’s, determining their needs, their level of risk, and finding the perfect insurance program for their specific needs.

Check out our coverage for both Colorado and Arizona.

buyarizonainsurance.com

www.buycoloradoinsurance.com

Test Your Personal Insurance IQ

board-361516_960_720

Personal Insurance

Our agency is committed to educating your clients on personal insurance including auto, home, boat, motorcycle and RV coverage. We know that if you are educated about your insurance needs and understand what you are purchasing, you will make an informed decision. Auto and home insurance can be confusing and unlike some advertisements for the mega firms, we take more than seven minutes to design and shop your coverage.

Personal Insurance IQ Test

  1. Is my $3,000 diamond ring covered under my homeowner’s policy?
  2. Flood insurance is not provided by my homeowner’s policy.
  3. I run an auto repair shop out of my home and property, and I am covered under my homeowner’s policy.
  4. If my neighbor trips on my deck and is injured, my homeowner’s policy will cover me.
  5. If my auto is parked in my garage and my garage burns down, my homeowner’s policy will cover my auto.
  6. If, while cutting down my tree, the tree falls onto my neighbors fence and causes damage, my homeowner’s policy will cover the loss.
  7. If there is an earthquake my homeowner’s policy will cover me.

Answers

  1. No.  Most policies have a limit on jewelry of $1,200; so if you have expensive jewelry, you will need to amend your policy.
  2. Correct. Flood insurance is purchased separately through the National Flood Program.
  3. No. If you run a business out of your home, you will need a business policy.
  4. Correct. Coverage is up to the stated limit in your policy. If the accident is the result of your negligence and you are held legally liable, your homeowner’s insurance will pay for damages.
  5. No.  However, if your vehicle is damaged by fire and you have comprehensive coverage your auto policy will provide coverage, per the policy terms.
  6. Yes.  Your homeowner’s policy will cover damage you do to your neighbor’s property, again up to the policy limit.
  7. No. Homeowner’s, condo and renter’s insurance policies typically don’t cover damage caused by an earthquake, but coverage generally can be purchased as an endorsement or a separate policy.

Special Note- These examples are for reference only. All claims will be subject to your individual policy terms and conditions. These examples will not change or amend any insurance policy.

Home Insurance and Terrorism

terror-1279135_960_720Home Insurance Update

It seems that every month there is a new act of terrorism.  The most recent acts occurred in New York and Minnesota.  These acts can create many questions regarding your insurance and what your homeowner’s insurance covers and does not cover.  “Standard homeowner’s insurance policies include coverage for damage to property and personal possessions resulting from acts of terrorism.  Terrorism is not specifically referenced in homeowner’s policies.  However, the policy does cover the homeowner for damage due to explosion, fire, and smoke—the likely causes of damage in a terrorist attack.”  (Insurance informationInstitute)

Other Personal Insurance Concerns

  • If my car is damaged, is there coverage?  If you have comprehensive coverage your car would be covered for explosion.
  • I rent an apartment, are my personal possessions covered? Standard Renters’ Insurance policies include coverage for damage to personal possessions due to a terrorist attack.
  • What if I am injured while at home? Your homeowner’s insurance does not covered injury to you or your family.  That would have to be covered under health insurance.

We believe in insuring our clients properly, and not sacrificing coverage which could put you in a compromising position. Whether it be more extended dwelling coverage on your home insurance policy, to correctly scheduling valuables to making sure we educate you on the importance of adding an umbrella policy. You can rest assured that our agents have the knowledge and experience to make the proper coverage recommendations.

Watch Out For The Kids…. Back To School Safety Tips

children_about_to_board_the_school_bus_thibodaux_louisianaPersonal Insurance and Safety Update

Summer vacation is over and a new school year has started. We will soon start to see the signs of back to school time, including more school busses on the road, and back to school displays in the stores.  Now is the time to start thinking about keeping your child safe.  This is particularly true for kids going to school for the first time, or going to a new school.

Now is a good time to have us review your auto insurance. Colorado/Arizona Insurance has a team of auto insurance agents who are knowledgeable and experienced in helping you find the best auto insurance policy available. We strive to match the right policy for each Colorado resident’s individual needs.  Call us today at 720-283-1722 or simply visit us online to get the best quotes on auto insurance available.

  • Make sure your children know their home phone number, address, how to get in touch with their parents at work, how to get in touch with another trusted adult, and how to dial 9-1-1.
  • Remind your child not to walk, run, or ride his bicycle down railroad tracks. It’s illegal and dangerous.
  • Teach children not to talk to strangers or accept rides from someone they don’t know.
  • If your children walk to school, complete the walk a few times with them.
  • Make sure that your teen driver understands and obeys all traffic laws.
  • Bright colored clothing will make your child more visible to drivers.
  • Bike riders should always wear a helmet.
  • Children should always board and exit the bus at designated locations that provide safe access to the bus or to the school building.

Are You Driving In A School Zone?

  • In a school zone when flashers are blinking, stop and yield to pedestrians crossing the crosswalk or intersection.
  • Obey school zone speed limits.
  • Watch for kids crossing the streets.
  • Never text and drive.
  • Never pass a vehicle stopped for pedestrians
  • Follow all laws pertaining to school buses.

Sources; American Red Cross, D.A.R.E. and National Safety Council

Hidden Costs of a DUI

aaas-role_-dui_-site_Auto Insurance Update

Driving drunk is dangerous to you and others on the road. A DUI will cost you much, including the loss of your auto insurance. But the loss of your auto insurance may be the least of your worries. The financial toll of a conviction will play out for years to come, and in many states, that can add up to $20,000 before everything is over.  Costs can include bail, fines, legal fees, increased auto insurance premiums, loss of work income, court-ordered alcohol education programs, and more.

If you get a DUI, we will do everything we can to help you manage your auto insurance and other related issues.  However, please, do not put yourself into that position.  Here are some general expenses related to having a DUI on your record.

  1. License suspension
  2. Increase in auto insurance rates, (could add up to over $10,000 over five years)
  3. Attorney’s fees
  4. Court fees
  5. Loss of job
  6. Periodic blood testing
  7. Loss of reputation
  8. DUI classes
  9. Installation of an ignition interlock devise on a car
  10. Time in court
  11. Possible jail time depending on conviction type

“The financial impact of a DUI arrest on any one person can vary greatly depending on many factors, such as driving record, jurisdiction, blood-alcohol level, attorney fees and fines, not to mention the specific circumstances of the incident and whether there was an accident or if anyone was injured.” Craig Gullkot; Bankrate

How to Select the Right Boat Insurance

Jersey_Boat_Show_2011Unlike home or auto insurance, boat insurance policies can vary widely from one company to the next. So which type of boat insurance is best for you? Try these tips.

Boat Insurance Tips

  • Know the Agent–One way to find a good agent is to ask friends who have had a good experience with the agent and/or Insurance Company.
  • Agreed Value vs. Actual Cash Value–These are the two main choices that boaters face, and depreciation is what sets them apart. An “agreed value” policy covers the boat at whatever value you and your insurer agree upon. While it typically costs more up front, there is no depreciation if there is a total loss of the boat (some partial losses may be depreciated). “Actual cash value” policies, on the other hand, cost less up front, but factor in depreciation and only pay up to the actual cash value at the time the boat is declared a total or partial loss, or property was lost.
  • Customize–Bass boaters may need fishing gear and tournament coverage as well as “cruising extensions” if they trailer their boat far from home. You may want “freeze coverage” if you live in a temperate state because, ironically, that’s where most of this kind of damage occurs. A good insurer will tailor your coverage to fit your needs so there will be no surprises.

At Colorado Insurance we pride ourselves on building long lasting client relationships through honesty, integrity, professionalism, and a sincere commitment to ensure you and your family are properly protected from life’s unplanned disasters…We truly believe we serve our community’s families better than anyone in Colorado. We believe this because we focus our energy and resources on our client’s, determining their needs, their level of risk, and finding the perfect insurance program for their specific needs…

We have over 25 years of experience in the Colorado Insurance markets and even more specifically in personal lines auto insurance, home insurance, umbrella insurance, boat, motorcycle and other toys.

Even Small Businesses Have Big Risks

pexels-photo-59197Many think that operating a small business has little or no risk. The fact is, operating a small business has just about the same risks as any other business.  Employees can still sue you, you can cause injuries to your customers, and your building can burn just like a big business.  General liability risk is very real for small businesses and it is important to have a business insurance program that addresses these issues.

To protect a small business from potential lawsuits, liability insurance is necessary. Policies vary greatly, and they cover different classifications of risks for varying costs.

Commercial General Liability Insurance covers claims from accidents, injuries, or negligence when the business is at fault.  Small businesses may face a wide array of damage charges. Personal injuries, property damage, libel, and slander are just a few examples.

Product Liability Insurance covers legal fees for litigation involving a faulty product.  It also covers any personal or property damage charges caused by the defective product.

Employment Liability Insurance provides protection for an employer against claims made by employees, former employees, or potential employees.  It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations.

Professional Liability Insurance pays for damages caused by services.  It is also called errors and omissions coverage. This is for companies that market a service instead of a product. For example, professionals in medical clinics must have medical malpractice coverage.

Cyber Liability Insurance covers the risk posed by conducting business over the Internet, over other networks, or using electronic storage technology.  It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.

There are other types of insurance designed for specialty businesses. For example, there are special policies for companies involved only in internet sales.  The nature of the business determines what type of coverage is necessary.

It is important to use an agent with commercial experience to help your business find the right combination of coverage, price, and service. We at Colorado Insurance have put together a comprehensive portfolio of carriers tailored for the needs of Colorado and Arizona businesses. We have options to fit almost every type of business with competitive pricing and flexible coverage options. Don’t just shop one carrier, allow the team at Colorado Insurance to shop multiple carriers at once!

What Is the Difference Between Homeowner’s Insurance and a Home Warranty?

Big_single-family_home_2Home warranties are offered by many companies, mostly during the selling process. Typically, there are two types of home warranties that people will purchase for their homes.  The first one covers any major systems or repairs for the first year, and the second is an annual renewal type contract which continues to keep the coverage active. See more

Homeowner’s Insurance

This is a personal insurance policy to protect your home and personal property from damages as result of a fire, wind, storm, or some other act of God or covered activity.

Home Warranty

A home warranty, on the other hand, is optional and typically covers the costs for repair or replacement of the electrical, plumbing and HVAC systems as well as major appliances like the refrigerator or oven.

Home warranty protection usually offers repair or replacement of a specific item for a specific period of time.

Even if you secure a home warranty policy, we recommend that you also have a homeowner’s insurance policy, as there are limitations in home warranty products.  If you have a mortgage, homeowner’s insurance is generally required by your mortgage company.

We have over 25 years of experience in the Colorado Insurance markets and even more specifically in personal lines auto insurance, home insurance, umbrella insurance, boat, motorcycle and other toys.

How To Serve Up Restaurant Insurance

Italian_dishes_on_a_table,_served_at_a_restaurant_in_Dhaka,_Bangladesh.Restaurants, Bars, Taverns and Catering Services

Running a restaurant can be tough, but rewarding at the same time. Your restaurant is a meeting place for friends and family, and you have regular customers that are the keys to your success. But there are risks in running a restaurant, and you need the right business insurance to respond to your risks.

Restaurant Insurance

To protect your restaurant you should have the following kinds of insurance:

  • Property insurance – Covering the value of your building and contents.
  • Liquor liability – This helps protect you if a customer has too much to drink and drives and hurts themselves or someone else.
  • General liability – It protects you in the event someone slips and falls in your restaurant or you cause injury to someone.
  • Worker’s compensation- Covers injury to employees.
  • Business income – If you have a loss and can’t operate, this insurance provides replacement income for period of time.
  • Food spoilage – Covers the cost of food that may be lost if freezers go down. This usually can be added to a boiler and machinery policy.
  • Employment practices liability – Protects against wrongful employment practices including wrongful termination, discrimination and sexual harassment.
  • Cyber liability – A newer kind of insurance that offers liability insurance for damages arising from a failure of computer security or a wrongful release of private information.
  • Food borne illness coverage – This coverage insures against a customer becoming ill due to your food, or how it was prepared.

 

The restaurant business is a very competitive and complex business that comes with uncommon exposure risks. Restaurant insurance can help protect against many liabilities and we are ready to help you.

It is important to use an agent with commercial experience to help your business find the right combination of coverage, price, and service. We at Colorado Insurance have put together a comprehensive portfolio of carriers tailored for the needs of businesses. We have options to fit almost every type of business with competitive pricing and flexible coverage options. Don’t just shop one carrier, allow the team at Colorado Insurance to shop multiple carriers at once!