The Differences Between Roofing Material and How It Relates to Insurance

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.

Tailored home insurance for home owners

As your family grow, a tailored home insurance for home owners will be a custom fit. You will have different needs at every stage of life with demands that will bring the future growth spurts to your doorstep. You will probably have a bigger family and more valuables as you get older. First time homeowners who may live in a similar dwelling will have different needs and expectations.

Tailored home insurance packages can be professionally fit together with you in mind. If you keep kids in the home, your policy can include the liability coverage. This will work in case something happened while children where in your care. Is your home in a flood zone? You may want to be covered in an area that is known for tornadoes. Add the coverage to the policy that is needed to protect your home.

You may have valuables that need to be protected against fire and theft. This is why a tailored home insurance package is a great asset for home owners. The one size fits all policy does not always efficiently meet the needs of the holder. Protect your assets with the right coverage to meet every need that may arise.

Let a trusted insurance agent show you how to custom your home owners insurance to meet your growing family needs. Contact us today for a free quote

Landlord Insurance Is Important

Experienced landlords are acutely aware of the importance of landlord insurance–particularly those who suffered losses in the past. Newbie property owners in their early ventures into renting homes or condos to others may still be unconvinced of the absolute need for this coverage. Save yourself from an expensive reality check.

Regardless of the assets or wealth of your renters, you must protect yourself with adequate landlord insurance. Your tenants, regardless of the health of their cash balances, only need to insure their personal property when renting. The responsibility to protect the home/condo and the safety of visitors sits directly in the landlord’s lap.

Here is a simple, yet all-to-common example to illustrate the dangers landlord’s face. Your tenants invite a few people over for dinner and to watch a ball game. It rains, sleets or snows before they arrive. As they walk up to the home or condo, one of the guests slips, falls and breaks an important part of their body. Guess who is typically liable for medical costs, loss of income and psychological trauma? You, as the owner of the real estate.

Similar events are actually more common than the other hazards (fire, lightening, water, wind damage, etc.) that you should always protect against. Unfortunately, liability awards can sometimes vastly exceed the claim payments for serious physical damage to your home or condo.

Protect your assets. Shop for the best coverage and prices from an independent agent with an interactive website that allows you to get multiple quotes from different insurance companies. You–and your bank balance–will be very happy you took the short time to get multiple landlord insurance quotes from a trusted independent agent.

What insurance providers look for in drivers?

Everyone wants to save on their automobile coverage. Know what insurance providers look for in drivers when you want the best bang for the buck. Teenagers lack of experience cause them pay a higher rate than most other people. Girls are seen as a smaller risk than boys who drive. Take a defensive driving course that will show you how to drive like a professional. Practice maturity and develop trust in the drivers seat and you will qualify for a "wheel of a deal." A high GPA influences an insurance rating. Staying in schools reveals that a student is dependable and determined. Following the rules are what carriers look for in drivers.

Stay in the lane and keep the police from pulling you over to the side. Insurance providers look at the number of speeding tickets a person has over a period of time. Be safe and practice watching out for the other person to prevent a collision. Understand what insurance providers look for in drivers. The kind of car you drive will be a factor that will determine your premium. A good credit rating will give you a little purchasing power. These are a few of the things insurance providers look for in drivers. You can contact us for answers to your questions and to get a free insurance quote!

Why Not Knowing about Liability Insurance Can Cost You

Not knowing about liability insurance can cost you even all the way to a bankruptcy. If someone is injured on your property, they will seek ecovery of their medical expenses and any legal expenses they incur due to that injury. Without general liability insurance, you will be footing all those bills. If you are a contractor and your workers do a poor job for a client, you may be sued for poor workmanship. If you do not have professional liability insurance, you pay for repairs and other claims.

Not knowing about liability insurance is no excuse. There is plenty of information available about types of liability insurance and who should have each type. Your insurance agent should be advising you about which types of liability you should carry. Then it is up to you to acquire the recommended coverage for your home or business. Even independent contractors should carry professional liability insurance; it is often required to obtain some job contracts.

Personal liability insurance protects you and your assets in case of a claim due to negligence, injury or property damage. It is reasonably priced and affordable; what you cannot afford is to go without it. Contact your insurance agent today to be sure that your assets are protected along with your home, vehicle or business. Otherwise, you are all alone when an accident or injury for which you are responsible for happens.

If you are uninsured for liability, all you own is fair game for legal action to provide fair compensation to an injured party. You could lose your property, your business and your livelihood. The prospects of this happening are real; it is a road you do not want to take. Contact your insurance agent today and get the proper liability insurance that you should have for protection.

Colorado Car Insurance Requirements

Each state has its own requirements when it comes to auto insurance, so it is imperative that you know your state’s own laws as there are strict penalties if you do not carry the minimum amount or correct type of insurance. Here is what you need to know about Colorado car insurance requirements to ensure you are on the right side of the road:

  • Auto insurance is required in the state of Colorado for any registered vehicle.
  • You must have liability insurance or self-service insurance. The latter is only available to individuals who have at least 25 vehicles registered in their name.
  • $25,000 is required in Colorado for bodily insurance liability per person.
  • $50,000 is required in Colorado for bodily insurance liability per accident.
  • $15,000 is required in Colorado for property damage insurance per accident.
  • Only land vehicles that are licensed need to have coverage. Private planes, ATVs, snowmobiles, go-karts and boats do not require insurance in the state of Colorado.
  • If you are found to not have proof of insurance, which is a misdemeanor, you will receive at least a $500 fine in addition to four points on your driving record and the possibility of having your license suspended on a first offense. On a second offense, you will receive a four-month suspension of your license and at least a $1,000 fine. On the third offense, you will receive at least a $1,000 fine in addition to an eight-month suspended license and community service.

Shedding Light on Colorado Car Insurance Requirements

Like other states in the union, the state of Colorado requires drivers to have auto insurance in order to be licensed to drive a car. But not only does the state require auto insurance, Colorado law also requires specific coverage amounts for an acceptable insurance policy and licensure. Here is a brief rundown of what the state demands.

  1. Minimum Coverage for All Drivers — Every driver in the state of Colorado, no matter the age of the driver or the car that the driver operates, must carry bodily injury liability and property damage liability. Minimum coverage is $25,000 per person for bodily injury and $50,000 per occurrence. Practically, this means that the insurance company will pay up to $25,000 per person involved in an accident but no more than $50,000 total for all the people involved in the accident. Property damage liability coverage is a minimum of $15,000 per accident. Drivers can and may want to purchase higher coverage, but state law does not require it.
  2. Comprehensive and Collision — State law in Colorado does not require drivers to have comprehensive and collision coverage to get a driver’s license, however, most banks that hold a lien against a car will require the driver to have comprehensive and collision insurance in order to get a car loan. This type of insurance covers the loss to the driver’s vehicle in the event of an accident, whether the loss is theft of the car’s contents, damage due to a collision, or so forth.
  3. Uninsured Motorist Coverage — In Colorado, drivers may refuse to buy coverage for damage done by uninsured motorists, but they must do so in writing.
  4. Medical Payments Coverage — Colorado requires insurers to offer at least $5,000 worth of extra medical payments coverage to insured drivers, but drivers do not have to purchase it in order to be licensed to drive.

The Consequences of Not Having Colorado Car Insurance

In Colorado, it is required that you carry automobile insurance if you are operating a motor vehicle. There are many consequences that can be very extreme if you do not follow the law and purchase the required state minimum coverage. The minimum coverage for Colorado is $25,000 for each person for bodily injury, $50,000 for each accident for bodily injury, and at least $15,000 for each accident for property damage coverage.

First, let’s say you are speeding and a police officer pulls you over. He will ask to see your license, registration and your insurance card. If you don’t have your insurance card in your vehicle, or if you are not covered, you will be given a ticket. If you repeatedly get stopped and caught without insurance, you could end up losing your license or even paying a minimum fine of $1,000!

In the next scenario, let’s say you are at fault for a car accident that injures both you and the other party involved. If you are not covered by car insurance, you will be required to pay for the repair of the other party’s vehicle, their medical bills, your medical bills, and any repairs needed on your vehicle.

Avoiding just these two scenarios can help you to avoid major financial troubles, keep your license, stay out of legal trouble, and help to keep your health, and your wellbeing protected from automobile accidents. Adding other coverage options to your plan, like medical payment, comprehensive and collision, and uninsured motorist coverage can all help you to save even more money in the event of an accident or even a theft or damage to your vehicle not related to an accident.

So get covered by at least the minimum Colorado insurance coverage limits, and keep your future safe.

Costly Insurance Mistakes

While there are many legitimate ways to save on your monthly insurance bill, there are just as many mistakes that can end up costing you more in the end – especially if the insurance company drops your policy after discovering fraudulent claims. Here are a few of the top mistakes that you should avoid making.

  1. Don’t lie to your insurance agent. While a lower price quote is attractive, intentionally fibbing about changes you’ve made to your car or negative marks on your driving record can cost you a lot in the end. In fact, being untruthful about either justifies the insurance company dropping your policy.
  2. Don’t forget to shop around. Request free quotes from more than one company, and always take the time to compare prices before making a purchase.
  3. Don’t sign without inquiring about discounts. There are many different kinds of discounts, including good student breaks. However, if you don’t ask you probably won’t be offered one.
  4. Always compare price vs. coverage. Sometimes the lowest price is the worst deal you can take because you’ll end up paying out of pocket for anything excluded from your policy, like medical and lawyer fees.
  5. Ask for a multi-policy price cut. Most insurers will discount the final price if you purchase multiple insurance policies at one time.
  6. Look at the big picture vs. the monthly bill. Many insurance companies offer some sort of price cut for a paying for your policy upfront as opposed to smaller monthly payments.

Shopping for an affordable insurance policy doesn’t have to turn into a nightmare, even if you are new to purchasing your own coverage. The most important thing you can do before signing the deal is to carefully read the fine print so you know what you’re really getting into.

What Should I Look for When I’m in the Market for Colorado Homeowners Insurance?

If you own a home and you live in Colorado, you need Colorado homeowners insurance. Here are some things to consider when you’re shopping for Colorado homeowners insurance:

Buy enough homeowners insurance to cover your home’s replacement value

One of the mistakes many homeowners make is to insure their home for its current rather than replacement value. Keep in mind that if something happens to your home and you’ll need to repair or even completely rebuild it, you’ll likely need more coverage than that notify your home’s current value. Therefore, when you buy Colorado homeowners insurance coverage, make sure you buy enough insurance to repair or even replace your home in its entirety.

Buy enough insurance to cover your possessions’ replacement value, too

As with your home, you also need to make sure you have enough money to re-buy your possessions in the event you lose them because of disaster, theft, etc. Again, remember that you need to buy enough insurance to replace them at what they’ll cost you at the time of re-purchase. In other words, don’t assess the value of your possessions at current market value. You won’t have enough money, likely, to replace everything you need to. Instead, ascertain what they’ll cost you to replace them and then buy enough coverage based on that.

Reassess possessions and home value on a regular basis

Every few years, go through and re-inventory your possessions, making note of new things you’ve bought or things you no longer have and things for which you no longer need coverage. Reassess your home’s replacement value on a regular basis, too. By doing this, things will be up to date so that if something should happen, you’ll be prepared and can file an accurate claim for your possessions and/or house in the event of disaster.