Monthly Archives: November 2012

Do Homeowners in Lakewood, Colorado need to have Hazard Insurance?

Hazard insurance is the same in Lakewood, Colorado as it is across the United States for all homeowners who have purchased a home. Hazard insurance is in place for only one reason which is to protect the investment that the mortgage company has made by issuing a loan to the homeowner to purchase the home in the first place. Keep in contact with your independent agent to keep your homeowner’s policy in good standing.

Hazard insurance is one of those things included in a homeowner’s policy that is not really thought about until one’s homeowners policy expires. The mortgage company tacks on their own hazard policy to the home and then includes it in payments. This increases the homeowner’s monthly mortgage payment. This has happened to many people, and they have no idea until they get notice of a big hike in their mortgage payment.

Hazard insurance is good for one year, so if the homeowner resumes their regular policy, that will include hazard insurance, they will be paying for it again through the mortgage company. Most mortgage companies will not refund the amount of money should the homeowner pick up their own insurance.

The reason for this is that if a homeowner does not keep their insurance payments up and the policy cancels, the insurance company’s independent agent is obligated to notify the owner’s mortgage company, and they have no other option. This practice is nationwide.

All hazard insurance will cover is the replacement cost of the home if it is destroyed through any number of ways. The mortgage company wants to make sure they are going to get their money back if the home is destroyed. Hazard insurance will cover nothing else. The homeowner will have no liability coverage on the home, and no other coverage such as personal coverage and coverage of personal possessions.

If a homeowner in Lockwood, Colorado has no homeowners insurance they will need to contact an independent agent in Lockwood as soon as possible before the mortgage company adds onto your mortgage this costly insurance to payments. Your independent agent in Lockwood will take care of all your homeowner’s needs.

How to Choose the Right Renters Insurance Policy in Lakewood, Colorado

Having the right renters insurance policy in Lakewood Colorado can make the difference between being protected and having to suffer through a financial loss because of a natural disaster. A renters policy is a type of home product that gives people who rent a home the peace of mind that their personal belongings are protected. In order to have the best kind of protection there are some ways that you can know you have the best coverage for your family.

The Right Things to Know When Buying a Renters Policy

  • To get the right policy you must first know how much money it will take to replace all your belongings if you lost everything. This will take some work and calculating but the independent agent will want to know.
  • Know what company offers the best rate for your needs. This will require you to shop around for different quotes from different insurance providers.
  • Take a look at the liability amount on the product. The liability protects you from being sued by a third party. There are several levels to choose from that range from 100,000 all the way to a million in coverage. Pick which one is right for you.
  • Keep an eye out for extra discounts. You will want to make sure that you are getting every discount that you can. Ask about the military discount for people who serve in the armed forces.
  • Check to see if the policy is being quoted with replacement cost. This means that if you have a loss the provider will pay full cost to replace the item and not depreciate the value based on its age.

Having the right insurance policy is important. It will make the difference to your family if you ever have to file a claim. Take the time and speak with an independent agent to learn more about renters insurance.

What to Consider when Purchasing Commercial Coverage in Lakewood, Colorado

To ensure that each Lakewood, Colorado, business has the insurance coverage it needs in case damage or destruction occurs, it may be necessary for the business owners to purchase a type of commercial property policy. A commercial property policy can cover the losses that may occur to company property when naturally destructive events occur as well as protect business owners in the cases of vandalism or theft.

When purchasing commercial coverage in Lakewood, Colorado, business owners should evaluate their needs in order to select the appropriate commercial property coverage type and amount. An all-risk policy will cover damage caused by a variety of events other than incidents that are noted as exceptions by the policy. This is the most commonly purchased type of commercial coverage. A peril-specific policy will cover losses from only specified events, such as fire or flood. An independent insurance agent can help Lakewood business owners determine if their properties are at risk for a particular peril and recommend peril insurance coverage if appropriate.

Business owners should be aware that different levels of risk are associated with different areas even within the city of Lakewood, Colorado. Insurance providers assess each area’s risk in order to determine which insurance coverage to offer at what cost. This means businesses in different neighborhoods may pay different rates for the same coverage. If a business is located in a high crime area or an area at risk of natural disasters, it will carry a higher risk and command higher insurance rates. Consulting with an independent insurance agent who can inform business owners about the risks their potential business location before they buy it can help owners make good decisions about purchasing property. Once they own a property, an insurance agent can still help them by recommending suitable coverage as well as suggesting ways for the owners to reduce their risks and save money.

How Can I find the Best Insurance Quotes Online with Multiple Carriers in Lakewood, Colorado?

Getting the best insurance quotes online from multiple carriers requires gathering and evaluating information. Websites that aggregate quotes to display information from multiple providers can be a good starting point for some shoppers. At these sites, users are asked to enter some personal information and information about the type of policy they are seeking. The site’s search engine then collects and displays quotes from multiple providers. Receiving a set of quotes from such a site allows shoppers to view a list of providers that offers their type of plan and gives them an idea of the costs associated with each. However, the usefulness of this information can be limited as not all insurance providers will show up in these search results, and it’s possible that not all relevant information related to the person to be insured will be factored into the quotes. For example, search results may not take the persons location into account. Although this type of online search can have its limitations, it provides a starting point for researching an insurance purchase.

After gathering quotes multiple providers in one easy step, the next step is to evaluate each offer and investigate the providers further. Visiting the websites of the providers, getting direct quotes from them, and inquiring about discounts can follow. Researching the policy and provider to discover their record of customer satisfaction can also be essential before committing to an insurance purchase.

Using the online tools available to them, many shoppers discover and purchase insurance policies that meet their needs. But conducting research can be time consuming, and some opportunities may not show up in search results. Consulting with an independant agent who can use his insurance quoting software to gather the information can streamline your search and garner the best results. In particular, consulting with a local insurance agent can help you get results tailored to you and your Lakewood, Colorado, location. Finally, the insurance agent will be able to identify reliable providers and suitable policies at a glance and make recommendations that lead to good buying decisions.