Over the last decade, residents of Lakewood and the rest of the state of Colorado have followed the national trend of installing wood burning stoves in their homes. With the high cost of fuel, wood burning stoves can provide the heat you need on those cold winter days. Before you go out and buy one of these units to heat your home, it is wise to check with your home insurance company or ask an independent agent how such a decision will affect your insurance coverage.

Fire is one of the biggest hazards that insurance companies consider when assessing the risk associated with a home policy. Homes with fireplace or wood burning stoves can elevate that risk. While a properly installed stove is usually very safe, not all stoves are installed properly.

Many insurers will require homeowners to provide proof of certification that their wood burning stove was installed properly. Just like you would hire a professional to install a hot water heater, unless you have the expertise, you should have the company that sells you the appliance also install it. Insurers also want to be kept informed when you add a piece of equipment that could change the chances of suffering a loss.

When you inform your insurance company of your intentions and have your wood burning stove properly installed, you can avoid any unanticipated consequences. Most standard homeowner policies do cover damage from fire, but, an additional charge for the additional risk may be added when you have a fireplace or wood burning stove.

Ask your Lakewood Colorado independent agent how your premiums might be affected. Major damage from this type of heating source is unusual. The facts are that most claims are the result of burning embers catching a carpet or some curtains on fire. To be safe, try to place these stoves on a tiled floor and away from any items that might catch fire.

Closing costs can add a significant chunk to the amount of money you need to put up when you buy a home, and several of the closing costs are related to insurance. Knowing what these costs will be can help you save the right amount of money for your home closing and avoid unpleasant surprises when your statement of estimated closing costs arrives.

One type of insurance that you need is title insurance. You usually purchase this through the title company that handles the closing when you’re buying a house. Title insurance protects you and the lender from problems that come up in the future with regard to the title. Costs vary, but the average homeowner in Colorado pays about $700 at closing for the lender and owner title insurance policies.

The other insurance related closing costs you’ll pay are for homeowners insurance. Lenders require this to protect their security in the home, and of course, the policy also protects you as the homeowner. Costs vary depending on the value of your home and possessions, but the average Colorado policy costs $800 to $900 per year. You need to pay for the first full year at closing. In addition, many lenders require you to deposit another 3 months of homeowners insurance payments into your escrow account at closing.

Between these two insurance related closing costs, most homeowners will need to bring about $2,000 to closing when buying a house. Shopping around for the best deal on homeowners insurance can help lower your costs, so contact a Colorado insurance agent to start getting quotes today. The earlier you start, the more time you will have to evaluate your options and get a policy in place before your closing date.

It was just starting to snow when you went to sleep in your Lakewood, Colorado home. You slept like a baby and then woke up and fixed yourself a cup of coffee. As you reached for a blueberry muffin, you happened to look out the window and were startled to see that your neighbor’s tree fell on your property. Worse yet, a huge limb landed right on top of your brand new Jeep.

Immediately, you slip on a pair of boots and trudge through the foot of snow to report the incident to your friend and next-door neighbor. You are sure that he will be sympathetic to your cause, but instead, he is more upset about his tree than the damage his tree did to your property. You see that he is being very defensive so you leave and call your insurance agent. He says that your neighbor is responsible. Your neighbor says it was an Act of God and he will not be held responsible for the damage to your property.

The law is rather straight forward when it comes to who is liable. If your tree falls on your neighbor’s property, you are only responsible if you were negligent. That sounds reasonable except that it is often extremely hard to define negligence. What constitutes negligence? If your tree was obviously dead or diseased, you should have known that it could topple. A reasonable person could anticipate that a heavy coating of snow might cause the tree to fall.

On the other hand, if your tree was healthy and full of leaves, you might not know that it was unstable. Most cases are difficult to prove. They can take a long time to litigate. If your neighbor’s tree fell on your property, it can be hard to determine who is liable. The best thing to do is contact your insurance agent and allow them to deal with your neighbor and your neighbor’s insurance company.

Homeowners insurance usually does not cover an in-home business in Lakewood, Colorado. A home insurance plan is meant to protect your property and your personal belongings. If you run a business out of your home, you will probably need to purchase separate business coverage to make sure your inventory is protected and you have enough coverage if a customer is injured while visiting your home.

Consider this. A client comes to your home to pick up products from your home business. He then slips and falls on the ice and injures his back. He not only has extensive medical bills, but he is also unable to work for an extended period of time. He decides to sue you for damages. If you are counting on your homeowners insurance to take care of the accident, you will be in for a shock. In Lakewood, CO, if you are running an in-home business, your home policy will not cover business related incidents. Instead, you should purchase a small business insurance policy that will take care of all of your needs.

Before you decide you cannot afford a separate insurance plan from your homeowners policy, think about the consequences of not having coverage. You could lose your life savings if a customer had an accident on your property and you were not properly insured. Instead, talk with a local insurance agent in Lakewood who is able to compare multiple quotes with all of the top companies and find you an affordable policy. If you want to save money, raise the deductible or bundle all of your insurance plans with the same company. It is worth the time and trouble it takes to make sure you have the insurance protection you need for both your home and your business.

Often it is easier to afford a home if it is a fixer upper in Lakewood, Colorado. There are many foreclosure properties on the market and investing in a home in a great neighborhood can be a great deal. The problem arises when you need to find a homeowners insurance policy for a home that needs repair. At this point, you need to contact an insurance agent in your local area who can help.

Many insurance companies will have strict requirements about what they will and will not cover when you are refurbishing your older home. Whether the repairs are major or minor, you will need to choose a policy that will protect your investment in the event of a disaster. Usually and insurance agent can compare multiple quotes for the type of coverage you are looking for. You will need to assess how much your home is worth in its current condition. When you finish the repairs to your home, you may then need to increase the amount of your coverage. Colorado may see damage from wind or snow and making sure your insurance plan will cover expenses if your home is damaged is important.

Contact an insurance agent who will not only find a rate you can afford, but will compare quotes from several top providers. You want to find a company that stands behind its coverage and will be there when you need it. If you purchase a plan just because it is cheap, it may not take care of your needs when you file a claim. It is better to spend a little extra money upfront and know you are fully insured. Using an insurance agent in Lakewood, CO is the best way to get the coverage you need, for your home that needs repair.

It is very important to make sure you have off-premise protection with your home insurance policy in Lakewood, Colorado. This is a portion of your policy that will take care of your possessions while you are traveling or away from home. Usually this type of coverage is included in your insurance premium, but you may want to check to make sure. If you are looking to update your insurance plan, make sure you ask about off-premise protection.

Imagine you are traveling out of the country on business or vacation. You leave your luggage outside the hotel while checking in. When you return – your luggage is gone! This could be disastrous. You peaceful relaxing vacation has now turned into a nightmare. Luckily, if you have off-premise protection with your insurance policy, you will be able to quickly file a claim and be reimbursed for your losses. Off-premise insurance will also take care of the items your children take with them when they go off to college and live in a dorm. It is important to check and make sure you have this coverage on your Colorado homeowners insurance policy. If your child’s computer, television, iPod or other items were taken from his dorm room, you would be able to file a claim.

Off-premise coverage is important whether you travel often or only occasionally. The additional amount on your premium is worth the protection it offers you and your family. When you have your local insurance agent compare quotes for homeowners insurance, make sure they include the comprehensive coverage on your plan. You can easily find great rates for insurance when you shop online. Working with an independent agent makes the process simple and you will know you are getting the coverage you need in Lakewood, Colorado.

Your homeowners insurance policy protects you financially if a burglar steals the most valuable items from your Lakewood home. Still, even if you do recover full value for your stolen items, no one wants to go through a home burglary. Replacing all those items takes time. And it takes even more time to regain the feeling of safety that we all want in our homes.

Fortunately, there are steps that Colorado homeowners can take to reduce the odds that they will suffer a home burglary. The best news? At least one of the steps could also result in a reduction in your homeowners insurance policy rates.

One of the tips that insurance Web sites often provide is that homeowners can save on homeowners insurance by installing a home security system. Insurance companies often provide discounts to homeowners who take this important step in avoiding a home burglary. That’s because companeis know that consumers who protect their home with security systems greatly reduce their chances of suffering a burglary. And that reduces the amount of insurance dollars that insurers can expect to pay out to these customers.

Installing a home security system also remains one of best methods of avoiding a home burglary. Most burglars upon noticing a home security system will simply move on to easier prey.

Homeowners should also notify their neighbors when they plan to take a long vacation. Their neighbors can then watch for suspicious individuals around your property. It helps, too, to join or help form a neighborhood watch. Alert neighbors are one of the best ways to reduce the number of burglaries in a neighborhood.

Homeowners looking for additional tips for preventing burglaries can also invest in motion-sensitive lighting, lights that flash on when someone nears their homes. There’s also the simple measure of making sure that everyone in the house locks all doors and windows if they are the last ones to leave the residence.

Colorado and Lakewood are not immune to home burglaries. But by taking some fairly simple steps, homeowners can increase their odds of avoiding a home burglary.

You’ve finally paid off your mortgage loan. That’s a significant monthly expense eliminated from your budget. But now you’re wondering if you should eliminate one more expense and drop your homeowners insurance.

The answer? Definitely not.

Homeowners insurance protects you in case your home is damaged or destroyed. This doesn’t change even if you have paid off your mortgage loan.

Consider this: What if a fire destroys your home? What if high winds sends a tree through your home’s roof? Can you afford to repair this damage even without the financial burden of a monthly mortgage payment? If the answer is no, then you can’t afford to eliminate your homeowners insurance.

This insurance, after all, will cover the damages suffered by your home. Serious home repairs can devastate your finances if you do not have the protection provided by homeowners insurance.

The good news is that you can save money on homeowners insurance by shopping with your local independent insurance broker. These brokers can instantly access live quotes from the country’s biggest insurance providers. You can then study these quotes to determine which homeowners policy best fits your current needs.

You can also tweak your homeowners insurance. You might want to lower your coverage depending upon how long you’ve owned your residence and how much of your mortgage loan you’ve paid off. Again, you can meet with your local independent insurance broker to make these arrangements.

Insurance premiums hinge not only on your insurance company, but also on the components of your home that make it safe or unsafe. Wood burners, for example, can hike your insurance rates significantly thanks to a perceived risk by insurers. There are several types of wood burners that can cause your insurance premiums to rise, including wood burining fireplaces and the less common wood burning stoves.

Depending on your insurance company’s algorithms for determining rates, having a wood burner in your home may increase your rates by as much as $100 per year. In some cases, an insurer may even refuse to insure your home altogether unless you can provide proof that the wood burner meets safety standards, is up to code in your city and is properly installed.

Alternatives to Wood Burners

Instead of using a wood burning fireplace or stove, consider switching to a gas or electric variety. Gas fireplaces are easy to install and do not require firewood or a lot of time trying to get a fire started. Instead, gas fireplaces create warmth and ambiance with the flip of a switch, and they are more easily controlled than the wood burning varieties. Similarly, gas and electric ovens are more energy efficient than they have ever been, and they are considered much safer than wood burining ovens.

If you must keep your wood burner, consider shopping other insurance companies for more affordable rates. You may be able to find a lower premium for the same coverage from an alternate insurer.

You may know that the type of materials your home is made of can affect your insurance premiums, but did you know that your roof also makes a difference in your rates? The type of roof you choose for your home can determine how likely you are to need to file a claim to replace or repair it in the coming years, because some types of roofing materials are much more durable than others.

Impact-Resistant Roofing

An impact-resistant roof is one that is better suited for withstanding impact from falling debris and extreme weather conditions than other types of roofing materials. Metal roofing is the preferred roof of insurers, and installing a metal roof on your own home with likely reduce your insurance premiums significantly. However, metal roofing is also the most expensive roofing material and may not be feasible for your budget – especially if you do not plan to live in your home for a long period of time. In that case, you may want to opt for a class four asphalt shingle, which is sturdier than other shingles, but not as expensive as metal roofing.

Ultimately, the type of roofing you choose for your home is up to you. Although there are definite benefits to choosing impact-resistant materials, choosing a traditional composite material will not make your premiums skyrocket – you just may not qualify for certain discounts.