If the Accident in Lakewood, CO Wasn’t my Fault, do I Still Need to Pay the Deductible?

When you are involved in an auto accident in Lakewood, Colorado, you may be concerned about the cost of repairs or medical expenses. Even if you did not cause the accident, it is easy to worry about the possibility of paying for the deductible on repairs and medical costs. Although your auto insurance policy will give you the best details about your specific insurance coverage, the situation will ultimately determine whether you need to pay the deductible.

Usual Payment

If you did not cause the accident, then usually you are not responsible for paying the deductible or your repair costs. The other driver who caused the accident is the responsible party and that individual’s liability coverage should pay for those expenses.

Inaccurate Claims

In some situations, the other driver may claim that he or she did not cause the accident. If there are no witnesses to the accident, then you may find that the accident is ruled undetermined and you might be required to pay for the deductible and repairs personally.

Uninsured Drivers

The other situation that may cause you additional heartache is when another driver does not have car insurance. Even though that individual is responsible for the accident, he or she may not be able to pay the full cost and you might be required to pay for some of the expense. In this situation, your uninsured driver coverage should provide most of the funds and your deductible amount is usually a reasonable cost.

Although the situation will dictate whether you need to pay for repairs or not, most cases will result in the other driver paying for the cost of repairs and your medical expenses. If you want to know more about your specific situation, contact us to talk to an independent agent.

On What Basis Do Insurance Companies Determine What Your Claim is Worth in Lakewood, Colorado?

When you are in an accident in the Lakewood, Colorado area, you will want to know about the way your home insurance policy works. The problem that you might face is determining how much you are actually likely to obtain after the accident and processing of your claim. Although the exact process and method of determining the value will vary based on the policy and coverage on your home or car, you can calculate an estimate of the value you can expect.

Current Value of the Item

A key part of determining the replacement value or repair cost starts with evaluating the value of the item. A home insurance company will often use that determining factor to start evaluating how much you should receive in your claim.

Depreciation

In some cases, the home insurance company will consider the depreciation on the item before giving any funds. When a home insurance policy does not completely replace the full value of replacement costs or the exact repair expenses, it is likely that the company will consider giving the value minus the depreciation on the item.

Estimate Repairs or Medical Costs

Depending on the accident, the home insurance policy and the specifics of the situation, the worth of the claim might be determined by a medical professional or a repair professional. Professionals will be able to give an estimate to the insurance company, which is then used to establish the amount that the company owes to the insured individual after a deductible.

Every company will have a different method of calculating the actual worth of a claim, which can make it seem like a complicated process. Although the exact figures will vary, the details of coverage are provided in the paperwork. If you want to know more about your specific coverage or coverage you are considering, contact us today to talk to an independent agent.

Do Older Drivers in Lakewood Pay More for Colorado Car Insurance?

Finding the right auto insurance policy requires some research, but it also requires an understanding of the common myths that are regularly stated. Among the myths that Colorado drivers might assume is true is the myth that older drivers pay more for coverage than younger drivers.

Idea Behind the Myth

The idea behind the myth that older drivers in Lakewood actually pay more for car insurance is related to challenges older men and women might have with health and wellness.

It is a common belief that older men and women are more likely to have health conditions, problems seeing or similar issues that might cloud their ability to drive. The reality of the situation is that as long as they are legally allowed to drive and do not have major issues that present driving risks, an older man or woman is not likely to pay a significant premium for coverage.

Reality of Coverage Costs

The cost of insuring a vehicle is not solely related to the age of the driver. Although young drivers are considered a higher risk due to the lack of experience, that is not the case for older men and women. The reality is that older men and women are actually able to get better rates due to discounts that apply to their account, improved experience and a long history that provides details into driving habits.

Protecting a motor vehicle from damage in the event of a crash or accident requires some consideration for the factors that impact the cost. Although many factors are involved in increasing the expense, getting older does not mean that the price will increase. To learn more about the myths associated with driving in Lakewood, Colorado, contact us today to speak to an independent agent.

Is glass in my home insured under home insurance policy in Lakewood, Colorado?

Glass doors, windows, and fixtures are easy to break yet expensive to replace. While glass structures are technically covered by homeowners insurance, regular policies are often inadequate for covering the total loss. When you are insuring your Lakewood, Colorado home, it is a good idea to determine the level of coverage you need for the glass on your property.

When Glass Objects are Covered

If you encounter a disaster, such as a hail storm or thunderstorm, that damages your glass windows or sliding glass doors, your regular homeowners insurance policy should cover the damage. However, when just the glass structures are damaged, you might not meet your deductible and will likely have have to pay out of pocket. Filing small claims can be counterproductive because it will generally trigger a higher premium when you renew your homeowners insurance.

However, if you incur significant damage from natural disasters or vandalism, your home insurance will kick in to cover the replacement or repair costs. However, keep in mind that if you cause the damage, your claim will be denied by the homeowners insurance company.

Advantages of Glass Insurance

If glass is a prominent structural element in your home, it may be worthwhile for you to purchase glass insurance. Glass insurance is a rider that can be added to your policy and that specifically covers damage to glass as the result of natural disaster and acts of vandalism.

How an Independent Agent Can Help

An independent agent can help you determine the best way to protect the glass structures on your property. If adding glass insurance is your best bet, we can help you find the best rates on a glass insurance rider for your homeowners policy. Contact us today to keep your home sound and properly insured.

Are there any limits on valuables such as computers or jewelry in my home policy in Lakewood, CO?

When you have a home insurance policy in a place like Lakewood, Colorado, you think of that policy as covering everything that’s inside your home, along with the actual structure. However, it’s very important that you look carefully at the coverage you have. It may not be what you think it is, and there could be strict limits on how much reimbursement you can receive for damage or loss of valuables, jewelry, and computers. You don’t want to end up losing out on something you can’t afford to replace.

Rather than take that risk, come see us. As an independent agent, we can provide you with quotes from multiple insurance companies. That will allow you to choose the coverage you like and avoid anything that isn’t going to benefit you. It’s not necessary to pay too much to get a good insurance policy, and it helps to have an agent on your side. Let us find what works for you. Be sure you’re up front about your computers, jewelry, or other valuables, in case the standard protection for them is not enough. Often, extra coverage can be added.

Increasing your home insurance policy amounts will raise your premiums, but usually not by a large amount. It’s much better to pay a few extra dollars a year to cover everything you have than realize you don’t have enough coverage when you need it. Each insurance company can set its own standard limits, so you may be able to find the right home insurance policy without needing extra coverage for certain items in your house. We’ll help you compare prices and amounts, so you can have the peace of mind that comes with knowing you have the right insurance for a good price.

Colorado Drivers: How Car Insurance Claims Can Affect an Auto Insurance Policy

Good drivers pay less for their insurance coverage than drivers who have tickets and accidents on their record. That just makes sense, because it rewards people who are less risk to the insurance company. That doesn’t mean that people who have claims can’t get insurance in Colorado, though, or that they’re going to be asked to be pay exorbitant fees for minor infractions. Their auto policy will depend on more than if they’re made a claim. What kind of car they drive, how much, their age, and other factors will all play a role.

As an independent agent, we can help you find the coverage you need, even if you’ve had a claim. Come on into our Lakewood office and talk to us about your needs and your concerns. Even good drivers make mistakes, and a claim is not the end of the world. Depending on what the claim was for and how long ago it took place, the amount you’ll have to pay for that based on higher premiums may be minimal. Overall, there are plenty of things that can make your car insurance rates go up or down, and claims are only a part of that.

Of course, multiple claims (especially serious ones) in a short amount of time can get your insurance canceled, and that can mean you’ll have a hard time getting coverage with another company. Consider that carefully if you have reckless behavior behind the wheel. Driving without insurance is illegal, and the damage it can do to you and others is absolutely not worth the risk. Even if you’re really concerned about past claims and how much insurance is going to cost you, don’t despair. Come in and talk to us and make sure you know all your options. We can help you make a good decision about the right insurance for you.

What you need to know about Property Damage Insurance Claims in Colorado

Filing an insurance claim in Lakewood, Colorado can be a complicated and time-consuming logistical process, but it’s the first step to making sure you get the compensation you deserve. To take the most hassle-free approach to this process, simple follow these three steps.

1. Assess the Damage

Make sure to fully examine the damage done to your property right after it occurs. Make records of the damage by taking pictures, recording videos and jotting down relevant notes. If the damage is especially serious, consider hiring a professional to attest that it was in fact caused by a natural disaster, falling branch or other qualifying incident.

2. Review Your Policy

You’ll want to make sure that your insurance policy explicitly offers coverage for the damage to your Lakewood home. Carefully read through your policy and call your insurance provider to determine whether or not you’re covered. You want to be as sure as possible before filing a claim, since rejected claims can negatively impact your record.

3. Have a Plan B

Your insurance company can take anywhere from a few months to a few years to fully resolve your claim depending on your loss and a number of additional factors. These factors might include: limits in your policy, the procedure of your insurance provider, the amount of damage, type of damage, the time it takes to gather all necessary documents, and so on. Basically, this means that you’ll want to have a Plan B in case your Colorado insurance provider doesn’t respond to your claims as quickly as you’d like.

When dealing with the demands of filing an insurance claim, remember that the bright side of this situation is that you have insurance coverage at all. Many Lakewood homeowners are left to foot the bill for unexpected damages, so having the ability to file claims for property damage makes your situation as ideal as possible. To discuss your options for insurance coverage, be sure to contact one of our independent agents for day for expert, personalized advice.

New Colorado Home Buyers: Things You Should to Know About Homeowners Insurance

So, you’re just getting ready to settle into your new Lakewood, Colorado home. The next step is to start looking at insurance coverage options to protect your investment. Your previous home insurance plan might not be the best fit for this new residence, so be sure to keep the following in mind when choosing the right coverage policy for your needs.

1. The Requirements of Your Loan Provider

Although Colorado law doesn’t technically require homeowners to purchase home insurance, mortgage companies likely will require you to purchase some sort of insurance to protect their investment. Talk to your loan provider before looking through coverage plans to make sure you meet at least the minimum of their requirements.

2. The Weather

Lakewood, Colorado frequently experiences snow storms, but this area isn’t really at risk for hurricanes and tropical storms. Make sure to carefully read the property damage policy of your insurance provider to be sure it covers damage caused by natural disasters that are relevant to your new location. Remember that many homeowner policies will not insure you in the event of a flood, so talk to your insurance provider about flood insurance if this is a concern.

3. Coverage for Others

Do you plan on frequently entertaining guests in your home or inviting clients over to conduct business? If so, you might want to look into liability coverage as well. Liability insurance would protect you from a lawsuit or any kind of financial responsibility in the event that someone is injured on your property.

Our independent insurance agents are dedicated to finding a plan for Lakewood residents that fits their needs and exceeds their expectations. To talk to one of our trusted and knowledgeable representatives, contact us today.

What is the Minimum Auto Coverage Requirements in Lakewood, Colorado?

Our Lakewood, Colorado insurance agents understand how difficult it can be to shop around for insurance plans that fit your needs and the state requirements. To make your research a little easier, the following list compiles the minimum auto coverage requirements for a safe and secure drive through the Rocky Mountain State:

  • $25,000 per person for bodily injury
  • $50,000 per accident for bodily injury
  • $15,000 per accident for property damage
  • $5,000 medical payments coverage (effective January 1, 2009)

Although these Lakewood auto insurance policies include the minimum coverage areas, that doesn’t mean they are the only area where drivers are at risk. Collision coverage is one such coverage option that isn’t mandatory, but highly recommended. This type of coverage would keep you financially protected in case your car needed repairs after an accident with another vehicle, wall or another object.

Colorado comprehensive coverage is another option that would keep your car protected under a variety of potential accidents, including theft, hail damage, fire, natural disasters, falling objects and so on. If you have an auto loan on your vehicle, your loan providers may require this coverage and others above the minimum for Lakewood, Colorado. Make sure to discuss this with your loan provider before committing with an insurance policy.

Thinking about short-changing the minimum? Think again! Failure to obtain the minimum insurance requirements can result in:

  • First offense- minimum fine of $500, four points added to your driving record and even suspension of your license.
  • Second offense- minimum fine of $1,000 and suspension of at least four-months.
  • Third offense- minimum fine of $1,000, community service requirement and an eight-month suspension.

Contact us to speak with an independent agent about your unique questions and concerns. We’ll work with you as long as necessary to make sure you get the coverage you need at an affordable cost.

How can a Business Owners Policy benefit my Small Business in Lakewood, Colorado?

An insurance policy for any company large or small are not about having a BOP, but are about being a responsible company owner. A company owner should never believe it is alright to operate without business insurance, no matter what size their company is.

Whether there are no employees or just a few employees, the company needs insurance protection. We are an independent agent in Lakewood, Colorado, and can help develop a plan that is right for your company and will adapt a policy to your budget.

The benefits of having a company insurance policy will help to protect your financial investment against a number of issues. Insurance will have a bearing on employees. If there is a lawsuit or liability stemming from your products or services, it will protect the company. There will be no possibilities of closing up your company due to a lawsuit.

Being able to provide an insurance package to your employees is a valuable asset, as this will attract good workers dedicated to the company. Health coverage says a lot to the employee. Health insurance will provide your company a tax credit of up to 35 percent of the cost of the premium.

Business owners must adhere to federal regulations regarding hiring practices, discrimination and sexual harassment. There are employees who would take advantage of these regulations and seek a lawsuit. A company’s insurance policy covers legal costs.

If your company has a mortgage, the financial institution may require a certain amount of insurance. If an owner does not meet these requirements, then the company can get certain fines and restrictions. Licenses are at risk for cancelation.

Call our independent agency in Lakewood, Colorado today to set up any number of insurance options, such as commercial, property, health, liability, fleet, and many other coverage are available for small business owners.