Five Things to Keep In Mind When Choosing a Home Insurance Policy

Posted on September 22, 2022September 22, 2022 by agentinsure

Purchasing a home is a life-changing decision. It, therefore, calls for serious considerations, such as how your investment would be protected in case of an emergency. One of the best ways to protect your home is to get home insurance coverage. Insurance may not help prevent emergencies such as fires and floods, but it can provide much-needed financial resources to rebuild after such crises. This article looks at some things to remember when buying a home insurance cover in Wheat Ridge, CO.

1. Consider Different Types of Insurance

There are several types of homeowners insurance policies. These include:

Basic Policy Form: The HO-1 policy covers your home and personal property for their actual price.
Broad Form Policy: This policy covers your home from specific perils, as covered in the form. It is also referred to as the HO-2 policy.
Special Form Policy: Covers your home against all perils except those specifically listed as exclusions. It is also known as the HO-3 policy and is among the most popular.
Comprehensive Policy: Also referred to as HO-5 policy, it covers your home against all perils except those specifically listed as exclusions. These assets are covered for their replacement cost.
Modified Coverage Form Policy: This policy covers your home from perils specifically listed in the policy form. It is also called the HO-8 policy.

2. Ensure Correct Valuation is Done

Correct valuation of your home is a critical step when buying home insurance cover. If your home is undervalued, you get less than the replacement value at the time of claim in the case of an emergency.

3. Consider the Deductibles

Deductibles are the amount you pay out of pocket at the time of claim. It is important to go for an affordable deductible.

4. Consider Discounts

Several things can help you earn discounts on your insurance. These include safety installations such as CCTVs, proximity to police stations, etc.

5. Get Advice from a CO Insurance Specialist Agent

One of the most important things you should do is consult a CO Insurance Specialist. Located in Wheat Ridge, CO, these agents have an immeasurable wealth of knowledge and experience in the Colorado insurance industry and can guide you to getting the best fitting cover for your home.

Contact CO Insurance Specialist today for more information on how to get the best insurance cover for your home.

Why Should You Have Classic Car Insurance Versus Regular Auto Insurance For a Rebuilt Classic Vehicle?

Posted on August 30, 2022August 25, 2022 by agentinsure

If you own a classic car that you have restored or invested money in, you may not realize that regular auto insurance may not fully cover the value of your restored or rebuilt car. This is why you may need classic car insurance. Unfortunately, the staff at CO Insurance Specialist, serving the greater Wheat Ridge, CO area, have seen that many people have never heard of classic car insurance or make the mistake of insuring their classic car with regular auto insurance. Here are a few reasons why you should have classic car insurance versus standard auto insurance for a rebuilt classic vehicle.

Classic Car Insurance Covers Your Car Based on an Agreed Upon Value

Traditional auto insurance values vehicles based on their Bluebook value. They do not consider that some older vehicles may be worth more if they are restored or rebuilt. When you purchase a classic car insurance policy, you and the insurance company agree on the value of your classic car, ensuring your vehicle is insured for its true value.

Classic Car Insurance Covers Add-On or Aftermarket Parts

Another reason why classic car insurance is essential to have is that classic car insurance helps to cover add-on parts or aftermarket parts. These parts can be pricey, but they are not usually covered under regular auto insurance policies. Classic car insurance covers these expensive parts you have purchased for your car.

If you have a rebuilt or restored classic vehicle, traditional auto insurance may not value the car as high as you do. This is why classic car insurance is so important. If you have a classic vehicle in the greater Wheat Ridge, CO area, the team at CO Insurance Specialist can help you obtain classic car insurance. Reach out to us today to get started.

Homeowners Insurance: How You Can be Spared When Disaster Strikes

Posted on August 24, 2022August 25, 2022 by agentinsure

Homeowner’s insurance is something that many people take for granted until the time comes when they need it. A homeowner’s insurance policy can help cover losses and expenses when disaster strikes. The right policy protects from losses due to fire, theft, vandalism, falling objects, and more.

Natural disasters happen more often in Wheat Ridge, CO than some think. When you experience such a traumatic event, there’s a good chance that your home won’t be the only thing damaged. Many homeowners insurance policies today offer protection from damage to personal belongings, such as clothing, furniture, and electronics. They may also cover expenses that may come with a crisis, such as hotel stays for displaced residents or money for food when kitchens are no longer usable. In the event of a loss, your insurance company may also cover the costs for damage to your property.

Homeowners insurance can help you recover financially after a disaster, but you need to ensure that enough insurance covers you to protect your house and property. You’ll want to ensure that you have replacement coverage, which will help pay to replace your property if it’s damaged or destroyed. You’ll also want to ensure that you have liability coverage in case someone is injured while on your property. Another important type of coverage is personal property coverage, which will help pay to repair or replace your belongings if damaged or destroyed. You may even want to add a floater policy if you own certain valuables, such as jewelry and collectibles.

To ensure that your coverage is sufficient in case of home or property damage, reach out to CO Insurance Specialist today. We can inform you of available policies, add-ons, and more.

How Can I Get The Best Deal On Condo Insurance?

Posted on July 29, 2022July 22, 2022 by agentinsure

Some condos may not be covered at all by some insurers. In most cases, an individual who owns a single-family home must purchase home insurance, and a condo owner buys condo insurance.

There are many factors to consider when shopping around for condo insurance, including the type of coverage you need and the price you are willing to pay. It’s best to start by speaking with an agent to get more information. If living in Wheat Ridge, CO, talk to CO Insurance Specialists.

Best Deal on Condo Insurance

Every condo owner wants the best deal on their condo insurance, but how can you identify the best deal without getting scammed? Look for a company that offers specialty insurance for your specific needs. For example, if you own a single-family home, you probably don’t want to buy home insurance to protect your investment property.

Instead, you can buy a specialty policy that protects your investment property. If you own multiple properties, make sure you’re getting the best rate for various properties. Most condo owners will receive a rate per unit instead of a rate per property.

For the best deal, shop around, compare rates, and ensure you’re getting the right amount of coverage for your situation. If you own a condo and have tenants, ensure you’ve renter’s insurance to protect your tenants in the event of a fire or other catastrophe.

Parting Remarks

Some insurers may offer lower rates on a particular type of policy, and others may not offer a policy at all. Most companies will offer something labeled “rates” that may look low, but it likely includes things that make your condo more expensive to insure.

Shop around. The same company can offer different offerings that you didn’t know about. Confer with CO Insurance Specialists if dwelling in Wheat Ridge, CO.

Are There Any Discounts Available For Auto Insurance?

Posted on July 22, 2022July 22, 2022 by agentinsure

If you’re looking for affordable car insurance, you may be surprised to learn that the cheapest plans don’t come with reasonable premiums.

Some common ways include lowering your car’s risk by staying safe on the roads and keeping your vehicle in good condition. Confer with CO Insurance Specialists for advice in Wheat Ridge, CO.

More About Auto Insurance Discounts

Contact your agent or check online to find out about the different discounts that may apply to you. Contact your insurance provider and compare the other products to find your fittest plan. To receive the best possible rate on auto insurance, it is essential to know what type of coverage you want, how much you are currently paying, and your current situation.

To receive the best possible rate on auto insurance, it is essential to know what type of coverage you want, how much you are currently paying, and your current situation. Some may require you to meet specific criteria, like being a certain age or having a clean driving record.

Some companies offer discounts for driving a certain amount of miles driven each year or even lowering your premium if your car is worth more than the value of your vehicle. Additionally, you can shop around to find the best rate based on your driving history and other factors that affect your rate. Below are some ways to obtain auto insurance discounts.

Use your car for work purposes: If you use your vehicle for business purposes, you may be eligible for a discount. This also applies if you need to make deliveries and run errands on behalf of your company.

Ensure your car is well-maintained: Maintaining it in good condition is an effective way to lower its risk and save on insurance premiums.
Drive safely: If you’re involved in an accident, the insurance company will consider it more likely that you will have another one in the future, which means higher premiums. So, avoid accidents by driving safely and responsibly if you want to save on auto insurance.
Don’t speed: Speeding is among the common causes of accidents. Always consider driving safely.
Increase your deductibles: If you increase your deductible, you’ll have to pay more out of pocket for minor repairs and less for bigger ones. You can reduce your premiums without sacrificing the quality of your car’s protection.

For expert help in Wheat Ridge, CO, check with CO Insurance Specialists.

Common Commercial Insurance Exclusions

Posted on June 29, 2022June 21, 2022 by agentinsure

Commercial insurance is a worthwhile investment that cushions your Wheat Ridge, CO business against perils like fire, theft, liability claims, etc. While your business insurance may come to your rescue in many times of need, sometimes it can fall short. Standard commercial insurance from CO Insurance Specialists may not help you in the following circumstances:

Flooding

Just like typical home insurance, business insurance doesn’t cover flooding. However, you can purchase a stand-alone flood insurance policy from the National Flood Insurance Program (NFIP) or private carriers.

Earthquakes

If you have commercial property insurance, it’s unlikely to protect your assets from earthquake damage. Luckily, you can purchase an earthquake rider to bridge the gap.

Intentional acts

Commercial insurance won’t protect you if you commit willful damage or negligence. For instance, if you made a false statement against a competitor when you knew it wasn’t true, your insurer may not come to your rescue when sued for libel.

Criminal acts

If you or one of your workers break the law, don’t expect your insurer to bail you out. Unless you have fidelity insurance, your standard commercial insurance policy won’t protect you when your employee commits forgery, theft, and other crimes.

Risks above your coverage limit

Your business insurance will cover you up to the coverage limit. You will have to cover the difference from your pocket, something very common in liability coverage. The good thing is that you can avoid this trap by purchasing sufficient business insurance. Also, you can consider add-ons like umbrella insurance to boost your general liability insurance.

Commercial insurance in Wheat Ridge, CO

Do you want to learn more about commercial insurance? You are in the right place. Please call CO Insurance Specialists or visit our office to speak to one of our agents.

Classic Car Insurance FAQs

Posted on June 21, 2022June 21, 2022 by agentinsure

Do you own a classic car like a 1964 Ford Mustang? Then it would be best if you had classic insurance. Are you confused about classic insurance? Well, you are not alone. Most people don’t differentiate between classic insurance and standard car insurance. So, if you own a classic car, you must understand that this insurance protects your classic in case of an unfortunate accident. CO Insurance Specialists have prepared some of the frequently asked questions about classic insurance to shed some light.

Is my car eligible for classic insurance?

For your car to qualify for classic insurance, it must be twenty-five years and above. So, your daily drive may not be eligible.

What is the agreed value?

Unlike other standard cars, classic cars appreciate. So, in this case, the actual value can’t work. In this case, you and your insurer agree on the value of the car when stolen or damaged.

Is classic car insurance expensive?

Surprisingly, classic car insurance is cheaper than standard auto insurance. The premium is affordable because you don’t drive it daily, making the risk minimal.

Is classic car insurance a requirement?

Yes, in Colorado and most states, you must show proof of insurance while on the road with your classic car. Remember, your classic vehicle poses the same risks as other standard motor vehicles.

What are the classic insurance coverage options?

The classic insurance coverages are similar to those of typical car insurance. Some of the coverages include:

Lability coverage
Collision and comprehensive coverage
Uninsured/underinsured motorist coverage
Roadside assistance
Medical payments

Classic car insurance in Wheat Ridge, CO

Since classic cars are extraordinary and unique, they require a special insurance policy. But if you are still unsure about classic car insurance cover, talk to us at CO Insurance Specialists for more insights. Ready to protect your pride? Call us today if you live in Wheat Ridge, CO, and preserve your classic vehicle.

Tips for making your home a safer place

Posted on May 30, 2022May 23, 2022 by agentinsure

Making your home a safer place can mean different things to different people. It can be making sure that the house’s interior is safe from things that can endanger the occupants, or it can be keeping it safe from things outside your home or even a combination. At CO Insurance Specialists in Wheat Ridge, CO, we help our customers understand the coverage they have with their home insurance and make sure it is precisely what they need.

Add a home security system.

It has never been easier or less expensive to have a home security system. Many of them are easy to install in only a few minutes, and they allow you to monitor your home 24/7 from wherever you are with your cellphone. You can opt for monthly monitoring or not. You will never wonder who is at your door again.

Add and use deadbolts.

If you don’t currently have deadbolts on your home, you should. Not only should you have them, but you also need to use them every day.

Use window locks

People forget that windows have locks, and intruders often find their way in through either left open or left unlocked windows.

Cut back high bushes.

Keep the bushes close to your home small. You don’t want to give an intruder anyplace to hide.

Use motion-activated lights

Place motion-activated lights so that if anyone approaches any of the doors on your house, they will turn on. It may be annoying because any animal who crosses the path can turn it on, but it is worth having the light you need.

Contact CO Insurance Specialists in Wheat Ridge, CO on the phone, at our office, by text, video chat, or email for all of your home insurance needs.

Why basic auto insurance may not be the right choice

Posted on May 18, 2022May 18, 2022 by agentinsure

Basic insurance is the minimum amount of coverage you can have legally to drive a vehicle in a given state. In Colorado, that is 25/50/15. Other states have other amounts. While this may be the perfect coverage for some people, it isn’t suitable for everyone. For those who live in or near Wheat Ridge, CO, CO Insurance Specialists has an experienced team who is happy to provide the information you may need to determine if basic coverage is right for you.

With basic insurance, other drivers are protected from you. If you are the responsible driver in an accident, you will pay for medical bills and damage to the other vehicle. But it doesn’t do anything for your car. You will be left to pay for any repairs yourself.

If you have an auto loan or are leasing a vehicle, you will need to have insurance to protect your vehicle, which the loan company or the lessor has an interest in.

But what about your vehicle if you don’t have a loan or lease? Do you count on your vehicle for your activities of daily life? Most people do. If you had an accident or were the victim of a hit and run, would you be able to pay for the repair? If your vehicle was stolen, would you have the money to replace it?

Collision coverage provides the money you need to repair or replace your vehicle if damaged in an accident. Comprehensive coverage covers you for vehicle theft and other things other than an accident that can damage or destroy your vehicle. It includes glass coverage as well. Most coverage will require that a deductible be paid.

Contact CO Insurance Specialists in Wheat Ridge, CO when you need to make some auto insurance decisions.

Does everyone need auto insurance in Colorado?

Posted on April 28, 2022May 5, 2022 by agentinsure

Anyone that lives in the Wheat Ridge, CO area will want to know that they have an efficient way to get around. Owning a vehicle can ensure you can get around and enjoy all that the community offers. If you purchase or lease a vehicle, getting auto insurance will be a necessity. There are various reasons why this coverage should be considered necessary.

Mandated as Legal Requirement

Anyone in this part of Colorado will need auto insurance because it is mandated as a legal requirement. If you are going to drive any vehicle in this state, you need to meet the set insurance standards. This will typically require that you at least have liability coverage. If you have leased the vehicle or taken out a loan, the financing company will also require collision and comprehensive protection.

Protect Investment

You also should get an auto insurance plan to ensure you are protecting your investment. If you choose to buy a car, you will want to use it for a long time. A great way to protect this is by getting an auto insurance policy that has full coverage. In this situation, you will have support if your car is damaged or stolen.

If you buy a car when you are in the Wheat Ridge, CO area, you will want to know that you are adequately insured. The professionals with the CO Insurance Specialist can offer any support needed to build your next insurance plan for your car. If you call the CO Insurance Specialist, they can provide a personalized assessment that will also ensure you are aware of all needs and coverage options.

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