Is Homeowner’s Insurance Required by Law?

Homeowner’s insurance is not required by law in Arvada, CO. If you are purchasing your home through a bank, mortgage company, or other financial institution, they have the right to require that you purchase homeowner’s insurance during your loan period. This keeps their investment protected in case of damage or tragic events. You can speak with an Alliance Insurance Services representative to help you understand how much you should get in this case. 

Though it is not a legal requirement, it is important for home owners to truly consider it. There is a good chance that your home is your most high priced investment. Your home is also probably one of the most devastating things to lose. Insuring it should not necessarily be a question of whether or not it is required, but how devastated would you and your family be if you lost it. It is tempting to think that you will never need it, but think back to just a few years ago on the many devastated and displaced Colorado families who were victims of the wildfires. It is likely that they never thought such a thing would happen either. Even those who had homeowner’s insurance had nowhere near enough to cover the damages, possibly because they never assumed such a tragedy would occur.

Homeowner’s insurance is not a legal requirement in Arvada, CO, but it is well worth the consideration. Protecting your home from such a loss is important. If a tragedy does strike, you and your family should focus on the mourning and healing, not wonder what you will do no. If you own a home, reach out to Alliance Insurance Services to discuss insurance coverage options.

 

Does Motorcycle Insurance Cover Classic Motorcycles?

Motorcycles are a great way to get around and classic models can be highly collectible and beautiful as well. These classic motorcycles, however, do take a bit more to protect and take care of than a typical motorcycle and special coverage is often needed. For those that live in the Arvada, CO area, the agents with Alliance Insurance Services can help you to find the policy that you need to protect your classic motorcycle.

Put quite simply, regular motorcycle insurance is going to cover a classic motorcycle only in that it will allow you to drive the bike on the road and will cover liability or whatever injury coverage that you have. It will replace to a certain extent in that it will give you the money to buy a new bike up to the amount that you have it insured. A typical motorcycle policy will not, however, cover the cost of replacing classic or specialty parts as it is not a classic policy that has been tailored to a classic bike.

If you have a classic bike that is expensive or that does have a very special cost, you are going to need to take out a special policy that is tailored to the classic bike that you have. This is going to protect your classic bike and make it possible to replace or repair your bike if it is damaged or destroyed or needs to be fully replaced. A classic bike is a fantastic thing to own, but you need to make sure it is fully protected and that the right coverages are in place.

For those that live in the Arvada, CO area, the agents with Alliance Insurance Services can help you to find the coverage that is right for you and for your classic bike.

Does RV Insurance Cover Damage not Associated with Wrecks

RVs are a great way to spend time with the family and to really enjoy your free time. That being said, they must be protected with adequate insurance both to be legal to drive on the road and to protect your investment. RVs are a wonderful thing and having the right insurance to protect them is essential, for those that live in the Arvada, CO area, the agents with Alliance Insurance Services can help you find the policy that works best for you and your RV.

RV insurance covers a wide range of things including damage from wrecks, damage to contents, and in some cases, the damage that is not associated with a wreck. This does not mean normal wear and tear, but rather things like fire, vandalism, break-ins and other damages that might be the result of something that could not be prevented and that may not be covered on any other policies. This type of coverage is likely going to need to be listed on your policy to make sure you are covered and so that you can make sure you are going to have the protection you need if your RV is damaged.

It is always best to talk with an agent to find out just what your policy covers, what extra coverage you may need, and what you need to explicitly line out in your policy to make sure any event you may come up against is going to be covered. Things like damage from fire, damage from storms and other damages that are not necessarily the result of something like a wreck or damages incurred while driving.

For those that live in the Arvada, CO area, the agents with Alliance Insurance Services can help you find the policy that works for you.

Does Commercial Insurance Cover Vandalism?

Commercial insurance is something that all business owners need and knowing what it covers is the first step to making sure your policy is tailored to your particular business. For those that live in the Arvada, CO area, the agents with Alliance Insurance Services can help you to find the policy that works for you.

Commercial policies cover a wide range of things including the basics like damage to your building, injury to employees and patrons, and theft of your inventory or other items from within the commercial space. It may also cover things like the cost of clean up from fire, storm damage, and more. Your commercial policy also covers things like vandalism and the cost of clean up from this type of event.

This means your policy may help cover the cost of cleaning up vandalism, replacing items that are damaged or broken, replacing items that are irreparably damaged or even stolen in some cases, cleaning off vandalism from buildings, and general clean up costs. If you feel you are at risk for vandalism in the area in which your commercial business is located, you may want to get more coverage for things like vandalism than you would if you were taking out a typical policy.

If you have experienced vandalism in your area, you may want to add extra coverage and make sure that your policy is going to cover the cost of replacement and repair in the event of damage due to vandalism. For those that live in the Arvada, CO area, the agents with Alliance Insurance Services can help you to find the policy that is going to work for your business and that is going to protect your commercial business fully and completely without fail and without major issue.  

What is the Right Type of Life Insurance for Couples?

If you are a married couple, it’s best to get couples life insurance in which you and your spouse name each other the beneficiary on each other’s policies. This will cover the immediate costs that occur when one party passes away.

What are the Benefits of Couples Life Insurance?

Younger couples normally share their finances and benefit from combining their incomes to buy a home, vehicles, take care of children and afford higher education expenses. If one party should pass away, the other party needs to be able to pay the shared expenses. Having couples insurance from Alliance Insurance Services will help to pay off debts, cover funeral costs, afford day-to-day expenses and make mortgage payments in Arvada, CO.

What are the Types of Couples Life Insurance?

The main two types of insurance for couples are term life, permanent life, and joint insurance policies.

Term life insurance covers the insured person for a particular term or amount of years that is set. The most common terms are between five and 30 years. When someone passes away within the term, the policy will pay out to the beneficiary. If the term ends and you are still healthy, then you renew it. Younger couples generally have lower rates on life insurance.

Permanent life covers you for your entire life until you pass away. This type of coverage also builds cash value that you can borrow from and it is also at generally lower rates when you are young.

Joint life insurance in Arvada, CO is called first to die and second to die, as it is one policy that covers two individuals. First to die insurance pays out when the first person on the policy dies and then the policy ends. Whereas, second to die life insurance pays out after both people die. This type of policy is generally used by couples to leave money for their heirs.

We understand at Alliance Insurance Services that it can be a difficult decision when deciding on life insurance policies, and we are here to help. You can call or come by the office to talk to a knowledgeable agent about your life insurance for couples.

Does the Type of Dog you Own Affect the Cost of Home Insurance?

Home insurance is something that any home owner needs to have in place. Keeping a home policy on your home not only protects your property, it also helps to protect your guests, and the contents of your home. There are some factors that you may not even think of that affect the cost of your home policy, your pets may be adding cost that you didn’t even realize. For those in the Arvada, CO area, the agents with Alliance Insurance Services can help you to find the right policy for your pet and your home.

Dogs are unpredictable to a certain extent, some home insurance companies do adjust your home policy cost based on the type of dog that you have. For those pet owners that have breeds that have been determined to be “aggressive”, you may have a higher home premium because these breeds are more likely to attack someone that comes on your property. Some common breeds that are considered to be dangerous or aggressive are breeds like Rottweiler, Pit Bull Terrier, Mastiffs, German Shepard, and more. You can often find a list of breeds that your home owner’s company will consider to be dangerous when you go to set up your home policy.

It is important, to tell the truth when it comes to the heritage of your dog, even if it means your premiums may be higher. If your pet attacks someone while they are on your property and you are not covered, you may end up having to pay the costs of the medical bills for that person. If you have a pet you want to make sure they are also covered on your policy for your own protection and for the protection of your pet and anyone that might be on your property.

 For those in the Arvada, CO area, the agents with Alliance Insurance Services can help you to find the right policy for your pet and your home.

When to File an Auto Insurance Claim and Who to Contact?

When you have been in an auto accident, it is dependent on your type of insurance coverage, the other party’s insurance coverage and who is at fault as to who should be contacted and for what portion of the insurance policy.

Damages to Your Car

If your vehicle is damaged in an auto accident in Arvada, CO and it is clearly the other driver’s fault, you will file a claim with the other driver’s liability insurance. Their liability policy will pay for repairs or to replace your car.

 If the damages are may clearly your fault, you file a claim with your insurance policy under your collision policy. 

If the fault is not clear or it can be that both parties are at fault, then you file a claim with your insurance and the other driver’s insurance. After the fault is determined, you will get your damages covered by one policy or the other. 

If the damages are not from a collision, such as your car is stolen, vandalized or has hail damage, you file a claim under your comprehensive insurance.

If the other driver has no insurance or is underinsured, you file a claim with your insurance company, Alliance Insurance Services, under the uninsured/underinsured motorist coverage. 

If you are Injured

If you are in an auto accident and you have injuries, you file a claim with your insurance provider under your personal injury protection (PIP). This applies even if you are not at fault or have health insurance. The PIP portion can help pay for the bills that your health insurance doesn’t cover, so you won’t have a balance to pay on your medical bills. 

If the other driver is at fault, you file a claim with their liability insurance. 

If the other driver has no insurance or is underinsured, your own insurance policy will cover expenses for you from the underinsured or uninsured portion of your policy. 

Minor Damages to Your Car and no Injuries

If it’s the other driver’s fault, file a claim with their liability policy, because you won’t need to pay a deductible to get your damages repaired.

If the accident is your fault, consider if the minor damage is okay with you or if the cost of fixing it is little over your deductible, consider not filing a claim at all. The small number of repairs after you pay your deductible might not be worth an increase in your insurance rates.

At Alliance Insurance Services in Arvada, CO, we are here to help you every step of the way after an accident. You can use our online rating tool or call or come by the office to get more information on auto insurance.

Defining The “Minimum” In Auto Insurance Rates

You enjoy weekend rides through town in Arvada, CO. Do you have enough auto insurance, though?

The state of Colorado requires drivers to have a minimum of $25,000 coverage for bodily injury per person hurt in an at-fault accident. You are required to have $50,000 for bodily injury per accident. Colorado state minimum for auto insurance requires $15,000 per accident for property damage. 

The above figures may be representative of the minimum, but they are not absolute. You may need to purchase more or less insurance depending on your financial standing. Alliance Insurance Services can help you navigate the ways of assurance in Arvada and beyond.

What Does The "Minimum" Mean?

Some drivers believe that they cannot be held liable for damages or injuries incurred in an at-fault accident so long as they keep the minimum policy limits as established by state regulations. The reality, however, is that you are responsible for all damages in an at-fault accident regardless of whether your insurance provider pays all of the bills. Some drivers have found themselves on the receiving end of lawsuits because their policy limits were not enough to pay for everything. You do not want to be one of these unlucky souls.

The “minimum” in the insurance world refers to the absolute cheapest route you can take to obtain an indemnity plan. You do not fortify yourself against lawsuits simply because you chose to buy insurance.

What about rising premium rates?

It is true that the state of Colorado is ranked as number three when it comes to steadily rising premium rates. Part of the reason for the growing expense is because of hikes in vehicle theft that leave insurance providers with no other choice than to protect themselves against loss. Still, even with the cost of auto indemnity plans rising, it is still better to go for the plan that best satisfies your life instead of searching for the cheapest route. 

Let Alliance Insurance Services Help

Our agents have been in the insurance business for many years and are eager to match your circumstances with the right policy. We offer the following products. Contact us today for a quote in Arvada, CO!

What Types Of Commercial Insurance Do I Need For My Business?

As a small business owner in Arvada, Co, you probably understand the importance of purchasing commercial insurance. You may, however, be confused about what kind of commercial coverage your particular business needs. Some types of coverage are required by law, while others are dictated by your professional circumstances. Read on to find out what your Alliance Insurance Services policy should cover based on your small business needs.

If You Have Employees

If you have employees, the state of Colorado requires you to carry the following types of coverage:

  • Worker’s compensation insurance
  • unemployment insurance

According to the Colorado Workers’ Compensation Act, every business in the private and public sector that hires employees must carry worker’s compensation coverage.

This coverage extends to both part-time and full-time workers. Compensation coverage reimburses your workers with partial wages and covers medical costs in case of injury on the job.

Additionally, you must pay for unemployment tax, which partially covers your employees’ wages in the immediate aftermath of getting fired.

If you Use A Vehicle

If your business requires the use of a vehicle in any capacity, you need to purchase commercial auto insurance.

For a business registered in Arvada Co, you need to carry the following amount of coverage per business vehicle:

  • Bodily harm: $25,000 per person
  • $50,000 per accident for bodily harm
  • $15,000 per accident for property damage

In case of an accident, the other party can sue you over these minimum limits, therefore, it’s smart to purchase more commercial auto coverage. The state’s law mandates that should the other party’s damages exceed your auto policy, your business is responsible to cover the difference.

If You Are A Practicing Professional

It’s fair to say that all business owners are professionals. However, certain types of professions require you to carry coverage for charges made against your services or products. In general terms, this type of coverage is classed as liability insurance.

If you’re a practicing doctor or lawyer, you need malpractice insurance. As an architect, realtor or engineer, you should seek errors and Omissions coverage. Any other small business owner should purchase business liability insurance, which protects them from being charged in case of harm caused by their service or product.

Are you ready to protect your business? Contact a friendly Alliance Insurance Services agent to discuss the type of policy that works best for you.

Making Sure Your Home is Safe During the Holiday Season

The holiday season is one of wonder and excitement, but it is also a time to be extra cautious about the various safety issues that are relevant at that time of year. Here are tips for keeping your home safe during the holidays, courtesy of Alliance Insurance Services serving Arvada, CO.

Lighting and electrical issues

Thoroughly inspect holiday lights before stringing them up on your Christmas tree and on the exterior of your house. Do not overload electrical outlets by plugging in too many items. Turn off holiday decorative lights and other seasonal electrical items before you go to bed and when you leave the house.

Fireplace safety

Whether you use a gas or wood-burning fireplace, it is important to keep safety top of mind. Always be nearby to monitor the fireplace while it is in use. Make sure sparks or other flammable items stay in the fireplace. Keep children and pets away from fireplaces and candles.

Home security

No discussion about safety would be complete without talking about the prevention of theft during the holidays. Do not leave packages containing gifts sitting on your porch or anywhere outside your house. Make sure all doors to your house are locked at all times, and if you go out of town for the holidays, take the proper precautions to protect your home. Consider having a security system or security cameras installed.

There are many other ways you can keep your home safe and sound during the holiday season. If you need further guidance and want to make sure you have appropriate home insurance, feel free to contact Alliance Insurance Services serving Arvada, CO.