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. 

How Often Should I Update My Home Insurance Inventory?

Protecting your Arvada, CO home and everything in it means keeping accurate records. But what does that mean, exactly? Obviously, your insurer can’t cover something if they don’t know that you own it in the first place, but turning in a weekly inventory doesn’t make a lot of sense.

For most homeowners, there are only two instances where you really need to update your inventory:

  1. Once every six to twelve months
  2. After every major purchase

Buying a couple of new Blu-rays now and then isn’t really worth updating your inventory over, but after six months or a year, they’re going to start adding up. So you’ll want to do regular updates to keep your insurance provider posted. And of course, you’ll want to give your agent a call and send some photos and receipt copies along any time you buy a new TV or a sofa or anything like that. If you had to save up for it, tell your insurance agent.

When making an inventory, it’s a good idea to get some video of your possessions. Making a list is great, but there’s so much you can forget to include, and a video will capture a whole bookshelf quicker than your notepad app will. Receipts are great when you have them on hand, but it can be hard to find one for every single item that you own. Save them if you can, but video and photos might be all your insurer needs to see.

If you’re still shopping around for home insurance in Arvada, CO, give Alliance Insurance Services a call and see what they can do to help protect your home and everything in it. Alliance Insurance Services can get you the coverage you need.

Why do I need a home inventory

Owning a home comes with a lot of responsibility. One of those responsibilities is home insurance. Home insurance has several parts and one of those parts is content coverage. If you are like most people, you can’t remember what you had for lunch today let alone everything that you own in your house. In order to make sure that all the things that you own are covered under your home insurance, you need a home inventory so that you can come up with a value that makes sense. At Alliance Insurance Services our goal is to make sure that everyone in Arvada, CO has the insurance that they need. 

What a home inventory does is to list all the items in every room, nook, and cranny of your home. This includes closets, basements, and attics. Once you start to do yours, chances are you will be amazed at all the things you own. Off the top of your head could you remember all the Christmas ornaments you have? Tools in the basement? Dishes in the cupboard? Chances are you don’t have a clue. What is your home was flatten by a tornado or consumed by fire? How would you prove what you had previous to the disaster? 

If you do a detailed home inventory and store it in a safe place with any photos and backup information you will be able to provide that to the insurance company and any claim that you have will go much more smoothly. Simply stated, you need a home inventory to protect yourself. 

At  Alliance Insurance Services our experienced team has been helping the residents of Arvada, CO for years. We are ready to add you to that list. Give our office a call or stop by and we will talk about the benefits of a home inventory. 

 

Why It Is Important To Review Your Home Insurance Policy Annually

Arvada, CO residents who are looking to get the most out of their home insurance policies are urged to receive an annual review. Alliance Insurance Services is able to help. While this topic is not always fun to discuss, it is highly important. Many policy holders will simply hold onto their current policies, without ever taking the time to examine them. 

These are the questions that have to be answered before a homeowner can make any final decisions when it comes to their policies. They are the most crucial queries that serve as the outline for any policy.

1. What If The Home Needs To Be Rebuilt?

Thanks to the costs of inflation, a client may not be able to rebuild their home as easily as they may have thought. Those who do not take the time to review their policies could end up with coverage gaps that leave the homeowner in a difficult position. If the policy holder has made any recent improvements, these need to be discussed as well. Renovations are a key aspect of any annual policy review.

2. Will I Quality For Any Discounts?

If you have made any installations that affect the security or durability of the home, these changes may quality the policy holder for a discount. Each insurance company is going to have their own qualifications and it behooves the client to schedule a consultation. The same goes for clients who have made changes to their homes that require additional coverage. Make sure that full coverage has been obtained each year.

3. Do We Still Need The Same Coverage For Personal Possessions?

An existing policy may offer the standard coverage that the client needs but what happens when they do not take the time to consider any extended coverage needs? There is a wide range of valuables that need to be considered at this time. Office equipment, electronics, jewelry, art, and other prized possessions must be examined. Evaluate these and proceed accordingly. 

Arvada, CO homeowners will benefit immensely from taking the time to meet with experienced agents at Alliance Insurance Services. Annual policy review is pivotal, as it keeps homeowners from placing themselves in a difficult position over the short term or the long haul. 

Buying a new home? It’s time to get home insurance

Buying a new home can be an exciting and stressful experience. At Alliance Insurance Services, we are proud to serve the home insurance needs of the Arvada, CO area.  Our team consists of professional insurance agents who are here to help you navigate the sometimes confusing process of selecting the right insurance for your family’s needs.  If you are in the process of purchasing a home, it’s time to learn more about your insurance options. 

Take a look at your insurance options before you buy your home

Your lender will likely have a list of requirements for your home insurance policy and will make sure that you have an appropriate policy in place prior to closing. The days and weeks before closing on a new home can be rushed and hectic as there are a lot of steps that need to be completed. We suggest that you take the time now to review your policy options so that you aren’t making a rushed decision at the last minute.

It is important that your policy provides the coverage that your family needs and is at the appropriate level. These determinations may take some time so it’s always a good idea to begin the process sooner rather than later. Sit down with a professional, local agent who understands the state requirements as well as the standards put in place by lenders. Local agents are also a great asset if you ever need to file a claim as they will be there to walk you through the process. Owning a home is a big part of the American Dream!

Is it time for a new home insurance policy? Call or stop by Alliance Insurance Services and learn more about home insurance options in the Arvada, CO area.

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 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.

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.

3 Facts About Home Insurance You Need to Know

Your Arvada, CO home is a valuable asset that deserves protection. You can protect it by getting the right type and amount of home insurance. Alliance Insurance Services has trained and professional agents that may help you find the policy that is right for you. They may also answer your home insurance questions. The following are some facts you should know about home insurance.

1There are Different Types of Home Insurance Policy

Even though home insurance policies are relatively standard across different parts of the country, policies may be different depending on your insurance provider. You should ask your provider about the extent of coverage of your policy. A policy, for example, may insure your personal property against a few risks. It may, for example, provide insurance against theft and not fires.

2. Home Insurance Does Not Cover All Damages

A standard home insurance policy protects you from financial losses in case of liability claims, damage or loss of personal property, and damage to building structures. You should, however, note that home insurance does not cover you for losses that result from poor maintenance or carelessness. It does not cover you for intentional damages or damages caused by natural disasters such as floods and earthquakes. If you run a business at home, your home insurance does not cover your business property.

3. Make Claims Early

There is a deadline for submitting your claim. If you need to file a claim, contact your insurance provider as soon as you can. The reporting period is 14 days for most policies. If you wait too long, the damage may get worse, and you may not receive compensation.

Contact Alliance Insurance Services to get a new quote for your home insurance needs in Arvada, CO.

Why Not Having Homeowner’s Isn’t Worth the Risk

At Alliance Insurance Services, we offer Arvada, CO and the surrounding area a solution for home, auto and business insurance. Although it’s not a state law that you have homeowner’s insurance, it’s still may be in your best interest to obtain a policy, especially because it may be a requirement of your mortgage lender. Homeowner’s insurance gives you a sense of security and helps the cover expenses of various types of issues. 

1. Lawsuit

Imagine paying off your home, letting your insurance drop, and then a neighbor falling on your property and suing you for the value of half of your home. Once again, you’re back in debt. You’re also at risk of losing your house if you can’t find some way to pay for the lawsuit. 

2. Tragedy Can Happen Anytime

You never know when a tragic event is going to happen at your house. While you’re dealing with the stress and upset, you don’t want to also have to contend with how to pay for the damage. Having homeowner’s insurance takes away the worry in the event of a major event. 

3. Constant Worry

You don’t want the thought of something happening on your mind constantly. It’s just another reason to keep you up at night, and it’s a completely avoidable reason.

4. Heirlooms and Valuables

If you have heirlooms and other valuables in your home, you’re at risk of them being stolen and having no way to replace them. How unhappy would you be if your laptop, television and sound system were stolen? If you don’t have the money to replace them out of your pocket, you’ll have to wait until you can afford them. However, if you have insurance, it’ll pay for them. 

Get a quote for a homeowner’s insurance policy from Alliance Insurance Services, serving Arvada, CO and the surrounding area, since being without it isn’t worth the risk. Contact us at 303-431-9351 to discuss your specific needs.