Author Archives: AgentInsure

The Costs to Rebuild my Home in its Current Location in the Event of a Total Loss in Colorado

A homeowner in Lockwood, Colorado is shopping for homeowner’s insurance, they will need to take a look into the possible future scenario and consider the worst happening in order to structure a homeowner’s policy that will cover every aspect of their home’s total loss.

Unfortunately your home has been destroyed and it was a total loss and the homeowner must rebuild. As a homeowner you will need to call your independent agent right away. If you have not received a call back within 3 days, call the insurance company directly regarding specific costs.

Generally when a home is destroyed, homeowners think that they are going to receive an amount equivalent to the replacement cost of their home for this total loss. This coverage will dictate the shortest time possible to repair or replace the home or decide on a permanent relocation of the home. There is generally a ceiling limit, which is 20 percent to about 50 percent of the house limits. For instance if your home is worth $300,000 the insurance will allow 20 percent of this amount to maybe 50 percent of living expenses. This could cover the homeowner for one to two years.

It is a wise idea for all homeowners in a risky location such as Colorado and a location such as Lakewood, Colorado, to buy an extended replacement policy to cover a total loss should it occur. This policy will replace over 100 percent of the policy limits up to about 125 percent. For example, a home is insured for $300,000 with a 125 percent replacement the additional amount due to the homeowner would be $375,000. The formula for calculations would be, "300,000 x 125%=375,000 which would be the maximum dollar amount allowed."

When the homeowner in Colorado and their independent agent with a Lakewood location are trying to structure a homeowner’s policy to fit the needs of the homeowner regarding a rebuild and the costs of a new or repaired home, the homeowner should ask their independent agent it they need to include an amendment to their policy for removal of debris, an upgrade to building codes and landscaping needs, plus an extension on their policy for replacement costs.

How Combining Home and Auto Insurance Policies Can Save You Money in Lakewood, CO

Living in Lakewood, Colorado does not mean you have to spend a lot of money on your car insurance. If you look at your current insurance policy you will find that there is a section that lists out all of the discounts being applied to the premium. There is the good driver discount, good student discount and even a garaging discount that saves you money. One discount that you should be looking for is the multi-policy discount.

The Multi-policy Discount

There are several key factors that this discount has that are designed to save you money on your car policy.

  1. By combining both the auto and the home policies you will save up to 10 percent to 20 percent off your car insurance policy. Some insurance providers also may take an amount off the home policy. You will have to check with your independent agent to find out where you are saving the most money.
  2. The home part of the discount can either be a condo policy, home policy or even a renter’s policy. A home is simply where you live. Your agent will be able to help you determine which home insurance product is right for you.
  3. If you have not bought a home product because you rent and you think your rate might be too expensive, you should get a quote. Sometimes the discount of the multi-policy discount is enough to pay for the cost of a renter’s insurance policy.
  4. An important key factor to this kind of discount is that both the home and the auto policy should be listed with the same company. An agent will need to have both the home and auto in order to give you this special discount.

Reasons why Your Auto Insurance Rates Change because you Move in Colorado

Navigating the world of insurance is confusing. There are so many different types of insurance to begin with, and then the different options… even those who have a basic knowledge of the industry find it hard to understand everything. Auto insurance is no exception. One of the questions that come up again and again is “Why do insurance rates change when you move?” Learn more about why this is and what you can do to counter it.

One of the main reasons your rates may change is because you are driving more. If you live in a rural area and have a much longer commute, you may find that your rates go up for this reason. Make sure your independent agent has the right information on file with how many miles you drive each year. If you have overestimated, reducing this is a quick way to save money on your car insurance.

Another reason why insurance may cost more or less is based on the lay of the land where you are located. Those who are located in the mountains will pay a higher premium than those in an area such as Lakewood, Colorado. There are more accidents in the mountains, especially in winter, so naturally the premiums run higher.

The most important thing to remember is that you are not simply stuck paying what you are told. Contact a local independent agent and talk to them about the options available to you. Quite often working with someone like this will save you money over being stuck paying what a faceless quote program on the internet tells you. Finding the right agent is important, do your research and find someone who you feel comfortable working with on your insurance needs.

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.

What Is the Best Home Insurance Coverage for New Homeowners in Lakewood, CO?

New Homeowners in the Lakewood, Colorado and surrounding areas will discover they may have to deal with many environmental issues such as earthquakes, wildfires, floods and hurricanes; the homeowner is going to pay more than the average homeowner. They will need an independent agent to help them sort thorough issues covering their unique needs.

Clients who reside in this area will have to do a lot of shopping and comparison of insurance rates in order to find the best rate for them. The internet offers a homeowners insurance network in Lakewood, where the process has been streamlined to help homeowners find the best rates for their unique needs in a homeowner’s policy. The homeowner will need to remember that the best rate is not necessarily the best policy that will fit them.

Homeowners will need to pick an insurance policy that will fit their specific needs. There are many things to decide upon when considering a policy. Be sure to get the best out of your policy for the least amount of money.

A typical homeowners insurance policy will cover damages done through episodic events such as, fire, explosions, smoke damage, lightning, vandals, theft of possessions including check and illegal use, use of stolen credit cards, objects falling on the home and causing damage, weather related issues such as ice, rain, snow, sleet, and wind, riot damage, volcanoes, plumbing mishaps due to frozen pipes, bursting of plumbing and hot water heater causing water damage, heating malfunction and power surges.

Also, possibly covered depending on the policy, is food spoilage, replacement of door locks, removing debris and temporary repairs. A homeowner may or may not have to add these into their policy, find out from your independent agent.

The best homeowner’s coverage for residents in and around Lakewood, Colorado include all of the above plus they will need to speak with their independent agent to make sure their home is covered in the event of a wildfire, earthquake, and hurricane.

Homeowners need to read all of their policy word for word and understand what they are buying, so that when they need specific coverage’s there will be no surprises when they find out they had no coverage on a specific claim.

Ways to Protect your Car without a Garage in Colorado

There is no questions that a garage is the easiest and most effective way of keeping your vehicle safe from the elements and other possible perils, but not everyone is privy to garage storage. Here is Colorado, cars left outside can take a real beating year-round. There is heavy winter snow, falling tree limbs buckling under the weight of ice and multiple other dangers that car owners must be concerned about. So what can you do to protect your car without a garage?

Get a Carport

In comparison to garages, carports are much less expensive and easier to install on your property. Best of all, carports provide significant protection from the elements just like a garage would. Be sure to have your carport professionally installed, and make sure it is in compliance with local ordinances or homeowner’s association requirements. It can withstand high winds, hail, falling tree limbs and heavy snow, protecting your assets.

Pay Attention to Your Surroundings

If a carport is not within your budget or not possible for your property restrictions, you can protect your vehicle by paying attention to your surroundings and where you park your vehicle. For example, high winds and snow can cause store front awnings to collapse, causing damage to nearby vehicles. Similarly, if you normally park your vehicle under a tree for shade, you may be placing it at risk for damage from falling limbs — or even the tree itself.

When Your Car Suffers Damage

Sometimes, damage to your vehicle is unavoidable. Whether the damage is minor or significant enough to prevent you from driving, the right insurance coverage could help ensure you are not without a vehicle or the money to make the necessary repairs. Here in Lakewood, you can contact our office to speak to an independent agent who will explain your insurance coverage options and the ways that you can protect your finances when the unthinkable occurs. Call us for your no-obligation quotes today.

The Risks of Driving without Insurance in Lakewood, Colorado

Most normal people try to avoid unnecessary risks. Driving without insurance in Lakewood, Colorado is just plain stupid. The consequences of not having an auto insurance policy with at least the state minimum requirement, can be severe. Every responsible car owner should have insurance before the car should be driven. If you do not buy insurance because you cannot afford the price of a policy, you probably should not own a car.

An independent agent can stress the importance of having proper coverage for your automobile, but ultimately, it is up to you to make sure your vehicle is insured. Colorado requires every car owner to have property damage and bodily injury liability coverage. Most people choose to also have comprehensive and collision coverage in addition to the minimum state requirements. You can ask your independent agent about the other coverage available and then decide whether or not you want to add them to your basic policy.

Driving without coverage and getting pulled over by the police can make your life pretty miserable. First time uninsured drivers, who are found guilty of such an offense, will be slapped with a mandatory minimum fine of $500. Your license will be suspended until you can show proof that you have proper insurance. Four points will be put on your record and, your cost of buying an insurance policy will likely go up.

If you are found guilty of driving without insurance for a second time, the mandatory minimum fine increases to $1,000. Your license will be suspended for a minimum of four months and you will still get points and see your insurance rates go up.

As a three time loser, you can get a $1,000 minimum fine, a minimum eight month license suspension and be ordered to perform up to 40 hours of community service. After three times, you will probably lose your driving privileges for a long, long time.

All offenders, for the next three years are required to file an SR-22 form showing proof that they have the minimum, state mandated, liability coverage. Don’t be stupid. See your independent agent and get the coverage you need.