January, 2021 | Blog | Integrity First Insurance

Do I Need Uninsured Motorist Coverage If I Have Health Insurance?

Posted on January 20, 2021January 13, 2021 by Alexa Steffes

Some of the most common questions I hear are: Do I really need Uninsured Motorist coverage? Isn’t that why I have health insurance? For me, the answer is simple. Yes, you do need it.

Hopefully you’ll never have to use it, but I wouldn’t take that risk. Sure, your health insurance may cover some of the costs if you’re injured in an accident. But you’ll still have out-of-pocket expenses.

Picture this:

You’re driving home from work and another driver runs a red light and smashes into your car. You’re taken to the hospital by ambulance where you undergo surgery for your lacerated liver and internal bleeding. Luckily, you’re alive and will make a full recovery.

Unfortunately, you’ll be in the hospital for a week and out of work for 3 weeks while you recover from your injuries.

Now what?

How is Classic Car Insurance Different Than Regular Auto Insurance?

Posted on January 19, 2021January 13, 2021 by Alexa Steffes

Most classic car insurance policies offer “agreed value” coverage. That means you and the insurance company would agree to insure your vehicle for a specific value. Then if there if there is a total loss to the vehicle, that is the amount the insurance company pays. This type of policy allows you to properly insure your classic car at the true market value.

Regular auto insurance policies cover your vehicle for the “actual cash value” at the time of the loss. The insured value of your vehicle depreciates as the vehicle ages. Because of that, normal car isn’t sufficient to cover the higher value of a classic car.

Benefits to classic car insurance over “regular” car insurance:

10 Ways to Save on Insurance Without Sacrificing Coverage

Posted on January 14, 2021January 12, 2021 by Alexa Steffes

Raise your hand if you live in Colorado and your insurance premium increases every year. You can’t see me, but my hand is high in the air.

I work in the insurance industry, but that doesn’t make me immune to the same rate increases as everyone else. My policies have increased 4 years in a row.

To understand more about WHY the rates are increasing in Colorado, read our blog: 5 Reasons Insurance Rates Keep Increasing in Colorado.

We’re all in the same boat when it comes to increasing rates. I understand how overwhelming it can be to see 15-30% increases year after year. Especially when you haven’t filed a claim. If you’re anything like me, once you see that your rate has increased yet again, your first thought is to try to find a way to lower your rates.

Many agents will offer to lower your liability limits or remove coverage to save you some money. If you go that route, it’s important to understand what coverage you’re giving up and how it’ll impact you if you have a claim.

If Your Tree Falls, Will Home Insurance Cover It?

Posted on January 13, 2021January 12, 2021 by Alexa Steffes

When summer storms roll through, a lot of questions arise about what your policy will cover if a tree falls.

There are two main situations we get questions about: if a tree falls on your property, and if a tree falls on someone else’s property. Unfortunately, there isn’t one answer to both of those questions, so I’ll answer each separately.

Please keep in mind that all insurance policies are different. So while these answers are the norm, the coverage on your policy may be different.

My tree fell in my yard, will my policy pay to remove it?

Most home policies cover the reasonable cost to get a tree off a covered structure. The amount they’ll pay is still subject to applicable policy limits.

5 Reasons Insurance Rates Keep Increasing in Colorado

Posted on January 12, 2021January 12, 2021 by Alexa Steffes

Those of us lucky enough to live in Colorado know that the cost of living has skyrocketed in recent years. On Forbes’ list of the cities with the most significant cost of living increase, Colorado Springs ranked #1 and Denver was #16.

The cost of housing, insurance, and even a gallon of milk has increased year after year. While I’m no expert on housing or milk prices, I can offer some insight on the rising insurance costs.

Here are 5 key reasons insurance rates keep rising in Colorado:

5 Real-Life Insurance Claims

Posted on January 11, 2021January 12, 2021 by Alexa Steffes

Many agents will give you the same generic scenarios when discussing liability limits. Or worse, they won’t talk to you about the importance of liability coverage at all, or how an Umbrella Policy could really help.

It’s hard to imagine being responsible for hundreds of thousands of dollars in damages. Especially if you don’t see insurance claims on a daily basis.

We wanted to give you some actual examples of claims that have been filed through our agency in the past few years. These are just a few examples that show why it’s dangerous to have low liability limits. You may save a few dollars a month, or even a few hundred a year, but you could be on the hook for tens of thousands after a claim.

Here are 5 actual claims that have been filed through our agency:

Leasing a Car: What You Need to Know

Posted on January 11, 2021January 11, 2021 by Alexa Steffes

Is it better to lease a car or buy one?

Whether or not to lease a car can often be a very polarizing topic. Some people swear by it while others are strongly against it.

That makes it difficult to decipher the pros and cons of leasing a vehicle. Like many financial decisions, the right answer depends on the person and their situation. Details like price, terms, driving record, and insurance history can all play a role.

Misinformation and common assumptions add to the confusion. But leasing a car makes sense for a lot of people.

The best way to decide if leasing a car is right for you is to weigh the pros and cons. It’s also important to understand how leasing a car works and what tips might help you get the best deal.

Here are some of the details you might consider:

Working From Home: Safety and Insurance Risks

Posted on January 7, 2021January 11, 2021 by Alexa Steffes

Does Home Insurance Cover Working From Home?

Now that we live in a world with COVID-19, working from home is becoming more popular. Many businesses are realizing the benefits of having remote employees, so this may be the new “normal.”

Whether you’ve been working from home for years or you just started, it’s important to have the right insurance coverage. You might assume your home insurance will pay for any injuries or damages, but that’s not always the case.

There are also some safety measures that need to be considered when working from home. There’s probably not much risk if you’re just working from the couch for a day. But when you’re talking weeks, months, or even longer, the risks add up.

Here are some things you should consider when it comes to health, safety and insurance while you’re working from home.

Insurance Score: What Is It And Why Does It Matter?

Posted on January 6, 2021January 6, 2021 by Alexa Steffes

What is an insurance score?

An insurance score is how insurance companies rate for the likelihood that a policyholder will file a claim. Each insurance company uses slightly different formulas to calculate an insurance score. That’s one reason why your rate is not the same with each insurance carrier.

10 Insurance Terms Everyone Should Know

Posted on January 5, 2021January 5, 2021 by Alexa Steffes

When it comes to insurance, there are many confusing terms. Here is a list of 10 common insurance terms that it’s important for everyone to know.

1. Deductible

Your deductible is the amount you have to pay before your insurance company will payout for a claim. The insurance company will generally subtract the deductible from the total payout.

Example:
You file a claim for roof damage. Your deductible is $2,500 and the roof replacement will cost $10,000. The insurance company will pay $7,500, are responsible for the remaining $2,500.

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Month: January 2021

Do I Need Uninsured Motorist Coverage If I Have Health Insurance?

How is Classic Car Insurance Different Than Regular Auto Insurance?

Benefits to classic car insurance over “regular” car insurance:

10 Ways to Save on Insurance Without Sacrificing Coverage

If Your Tree Falls, Will Home Insurance Cover It?

My tree fell in my yard, will my policy pay to remove it?

5 Reasons Insurance Rates Keep Increasing in Colorado

5 Real-Life Insurance Claims

Here are 5 actual claims that have been filed through our agency:

Leasing a Car: What You Need to Know

Working From Home: Safety and Insurance Risks

Does Home Insurance Cover Working From Home?

Insurance Score: What Is It And Why Does It Matter?

What is an insurance score?

10 Insurance Terms Everyone Should Know

1. Deductible

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