When does someone need to have home insurance?

For someone that lives in the Arvada, CO area, owning a home is a great long-term investment option. When you are a property owner, you are going to benefit many different ways including through price appreciation, a hedge against inflation and simply having a stable place to live. If you are going to purchase your own home, you should carefully consider your insurance needs. One of the best ways to do this is by getting a home insurance policy. There are several situations when someone needs to have this coverage.

When Taking Out a Mortgage

One of the most common situations, when you will need to have a home insurance policy, is when you are going to take out a mortgage. A mortgage lender will rely heavily on your home as collateral. Due to this, they will want to make sure that you are protecting it as well as possible. One of the best ways that you can do this is by getting a home insurance policy. In most cases, the lender will require you to pay into a monthly escrow account to ensure your property is always covered.

When in an Association

Those that are in Arvada, CO will also need a home insurance policy when they live in a home association. Property associations often have specific insurance requirements for their local owners. You should carefully review your association’s guidelines when picking a new policy.

Ultimately, there are many situations when having a home insurance policy will be a requirement for you. If you are looking for a new policy, you should call Alliance Insurance Services to discuss. The team at Alliance Insurance Services will help you to find a policy that provides the right type and overall level of coverage for your home. 

Important tips to keep in mind when making an auto insurance claim

Even the most experienced drivers can be involved in car accidents. In the event of an accident in our Arvada, CO roads, you should take a few significant steps such as evacuating or providing first aid to the injured, calling an ambulance and the police and exchanging information with other drivers involved in the accident. At Alliance Insurance Services, we also recommend reporting the accident to your insurance company immediately when the information is still fresh.

Always be prepared with your personal information

When you call to file a claim, your insurance provider will require critical information about you and documentation related to the accident. You will be required to supply the following information:

  • Your names phone number and vehicle details
  • Photos of the damage
  • Location, weather conditions and time
  • The name or badge numbers of the officers who attended to your accident 
  • A copy of the accident report

Enquire about the claim duration

The claiming process can sometimes take longer than required. Some insurance companies in Arvada, CO tend to be faster than others; that’s why it is always a good idea to enquire about time limits. However, as the policyholder, you also need to comply and provide all the necessary documents and information required to make the process successful. Keep in mind that different companies offer different deadlines for filing claims. They also vary based on the type of claim. For instance, bodily injury claims may be different from filing claims for vehicle damages.

Get your car repaired by your mechanic

While most insurance companies prefer to send their own technicians to check and repair the vehicle, you can choose who should repair your vehicle. For instance, if you have your own technician, you will prefer to hire them to check and repair the car. If there are parts to be changed, you can also choose the type of parts you want to have for your vehicle.

If you have any questions about claims, feel free to reach us at Alliance Insurance Services today!