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.