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Colorado Insurance Blog

What Is Recreational Insurance?

If you love the outdoors, chances are that you’ve been interested in different types of recreational vehicles. These vehicles are often campers and other large vehicles along with off-road vehicles. If you have any kind of vehicle used for recreation, give us a call today at Integrity First Insurance in Colorado to get your recreational insurance. 

Why Get Recreational Insurance?

Your recreational vehicle or off-road vehicle may not be your usual vehicle, but it should be covered. Even if you don’t use your RV very often, it is still vulnerable to damage and other issues. You need coverage so that the right repairs, or a replacement, can be made. If you live in your RV full-time, it’s especially important to have this coverage. In this case, your RV would have much more time around other vehicles, giving it more risk. Without RV insurance, not only would you be in a terrible financial bind if there were an accident, but you would also face legal ramifications for not having the needed insurance policy. 

Recreational Insurance Choices

Because an RV is so unique, it needs a unique insurance policy that reflects your lifestyle as well as the vehicle itself. It is generally required for most RVs to have liability coverage for both property damage liability and bodily injury liability. These types of coverage will pay for someone else’s bills after an accident that you cause. If you cause the accident, it does not include anything to pay for your own property damage or to replace your RV. That’s where collision coverage comes in. It helps you to pay for the needed repairs, or replacement, after an accident. Comprehensive insurance covers a wide range of risks that happen off the road. 

Get Recreational Insurance

If you’re ready for a recreational insurance policy, call us at Integrity First Insurance in Colorado.

What is “Broad Form” Auto Insurance and Why is it Risky?

What is Broad Form Auto Insurance?

Broad Form auto insurance is very basic liability insurance that covers only one driver. Only the driver named on the policy is covered, so if anyone else ever drives their vehicle(s), for any reason, they would have no coverage. Essentially; instead of covering most drivers that aren’t excluded by the policy like regular auto policies, Broad Form policies exclude every single driver that’s not listed on the policy.

Since it only covers the one driver, it rates for the person rather that the vehicle(s). You’d pay the same amount regardless of how many vehicles you own and it extends to any vehicle the policyholder operates.

Unlike traditional auto insurance, Broad Form policies don’t cover an entire household. You can’t get a policy with your spouse and your kids, you can only get a policy for one individual driver.

What is NOT covered by Broad Form insurance?

  • Damages to your own vehicle
    • That means you can’t get Comprehensive or Collision coverage for your car, so you’d have no coverage to repair your car from an accident, hail damage, theft, or any other cause of loss
  • Your own medical payments
    • There’s no option to add Uninsured Motorist coverage or Medical Payments coverage
    • You wouldn’t have any coverage for your injuries even if you were involved in a hit-and-run or an accident with an uninsured driver
  • Injuries to your passengers
    • Like with your own medical bills, your passengers wouldn’t have any coverage for their injuries in an accident either
  • Liability payments if someone else drives your car and causes an accident
    • A Broad Form policy only covers the driver listed, so if your spouse, child, friend, co-worker, or anyone else drives your car, they’d have zero coverage
  • Roadside Assistance, Loss of Use (Rental Car Coverage), Gap Coverage, etc.

Who does Broad Form coverage make sense for?

Some people consider Broad Form coverage a good option if they have older cars that they don’t want physical damage coverage on and only need liability insurance. Personally, I disagree. In my opinion, the most glaring coverage gap between a Broad Form policy and a normal auto policy isn’t to coverage for your vehicle, it’s the Uninsured Motorist and Medical Payments coverage.

Those are the coverages that will help pay for your bills if you get injured in an accident. Hospital bills can pile up very quickly and paying those expenses out-of-pocket can cause financial ruin.

Read more in our blogs, What is Uninsured Motorist Coverage? and Do I Need Uninsured Motorist Coverage If I Have Health Insurance?

I would only recommend Broad Form coverage to someone who has enough funds built up to handle those expenses on their own. While Broad Form coverage does provide basic liability insurance and meets the minimum limits required by the state, it’s almost like choosing to “self-insure.” It’s a way to pay the least amount of money, but have the least amount of security in the event of a loss.

Facts About Broad Form Insurance:

Broad Form coverage is so limited it doesn’t meet the insurance requirements for most states

Only 11 states accept Broad Form insurance:

  • Colorado
  • Delaware
  • Idaho
  • Iowa
  • Maryland
  • Mississippi
  • Nebraska
  • Nevada
  • Ohio
  • Tennessee
  • Washington

Most reputable insurance companies don’t offer Broad Form auto insurance

Since Broad Form policies leave large gaps in coverage and aren’t considered good policies, most insurance carriers won’t even offer that type of policy.

10 Things to do to Prepare Your Home for Fall

Fall is a wonderful time — if your home is ready for it. So enjoy the last few weeks of warmer weather, but do a little preventative maintenance while you’re at it. You’ll fix small problems before they become big, and big ones before they become catastrophes.

Here are 10 tips to help:

  1. Look up. Examine your roof closely. Moss should be removed and debris cleared from gutters and downspouts. Repairing damage is crucial before fall weather is in full swing.
  2. Look down. Check for signs of animals and insects around your home and garage, including the basement and crawlspace. If you need help getting unwanted guests out, don’t hesitate to bring in a professional.
  3. Keep things warm. Heat escapes through leaks around windows and doors, so seal up any drafty areas. Outside, put covers over faucets before temperatures drop.
  4. Keep things dry. Drain outdoor hoses, faucets and irrigation systems. Look in the basement and crawlspace for wet spots. And make sure your water heater or boiler aren’t leaking.
  5. Clear the air (or vents and filters, at least). When’s the last time you checked your dryer vent? You should take a look at attic vents and exhaust ducts as well. And change that furnace filter, too!
  6. Take a walk. Cracks in your driveway or walkways will only get bigger, so get them fixed soon. If your deck has signs of wear, make repairs while the weather is still good.
  7. Get a tune-up. You or a professional should clean and tune your furnace, boiler and/or water heater, as well as your oven and range.
  8. Don’t play with fire. Before building your first fire of the season, check for soot or creosote build-up.
  9. Don’t play with fire extinguishers, either. But check them to ensure they still have pressure. Don’t have fire extinguishers? Put them on your shopping list, ideally one for each floor.
  10. Don’t forget those smoke and carbon-monoxide detectors. Replace batteries when needed, and test regularly that alarms are working.

Reposted with permission from the original author, Safeco Insurance®.

Top image by Flickr user Lali Masriera.

Does My Car Insurance Cover a Rental Car?

Whether or not an auto policy will cover a rental car is one of the most common questions I hear. The truth is, that question can mean two different things, and often leads to follow-up questions.

1. Does my insurance coverage extend to a car I’m renting (like on a vacation)?

You’ll have to check with your specific policy to be absolutely certain, but in general the answer is yes. Your liability coverage should extend to a car you a renting. If you have Comprehensive and Collision coverage on your policy, that would likely extend as well at no additional cost.

2. Does my insurance policy pay the daily fee to rent a car?

This is a more complicated answer and really depends on the situation and what coverage you pay for on your policy.

If you’re going on vacation or renting a car because your car is having mechanical issues, your policy would not pay for the rental car.

If your car was damaged in an accident, by hail, or some other covered loss, then your policy would pay for the rental car as long as you have selected rental car coverage on your policy. That coverage can go by several different names depending on your insurance provider, so it may show up on your declarations page under one of the following names:

  • Rental Car Reimbursement
  • Loss of Use
  • Additional Expense

Generally, that coverage has both a daily maximum limit and a per occurrence maximum limit. For example, your policy could cover a rental car for up to $50 per day, with a maximum limit of $1,500 for the entire claim. That adds up to $50 per day for up to 30 days. Some policies have only a maximum per occurrence limit without a daily cap, or some have no limits at all.

Most policies also have a weight or size limit for what rentals the policy will extend to. For example, many policies won’t cover a moving truck because of the gross vehicle weight limit.  The exact limitations will vary by policy, so be sure to check yours before assuming you’ll have coverage.

If you aren’t sure what coverage or limits your policy provides, call your agent and have them go over the coverage with you.

Should I buy rental car insurance from the car rental company?

That depends on the coverage you have on your policy, and in some cases your credit card.

Some credit cards provide insurance coverage for a rental car when you pay for the rental car using that credit card. You can usually call the number on the back of the card to talk about what coverage your credit card company provides.

If you have Comprehensive and Collision coverage on your auto insurance policy, you may not need to purchase insurance from the car rental company. The risk of relying on your policy is that it generally won’t cover any additional expenses you may be charged if the rental car is damaged and not able to be rented to others while it’s being repaired. Sometimes the rental car company will charge you for the daily cost they are losing out on while they can’t rent a car that was damaged in your possession. Most auto policies won’t cover that cost, but a policy through the car rental company may.

Another benefit to buying coverage through the car rental company is that if you have a claim, it’s not on your policy. Since the claim wouldn’t be on your policy, you wouldn’t see a rate increase at the next renewal because of the claim.

At the end of the day, each person has to consider the costs and benefits of relying on their policy or buying coverage through the rental car company and decide what’s best for them.

Will my policy cover me if I rent a car in another country?

Most US auto policies only extend coverage in the United States, Canada and Puerto Rico. If you’re renting a car in another country, you should purchase coverage specific to that country. Every country has their own insurance requirements and laws, so even if your policy did extend you may not be meeting that country’s requirements and could end up in legal trouble.

If my car is totaled in a claim, when do I have to return the rental car that was provided?

Once your car has been deemed a total loss and your adjuster has notified you, the clock starts ticking. Your policy will only continue paying for the rental car for a limited amount of time. After that has expired, you’ll have to either pay out of pocket for the rental car or return it.

The exact time frame will depend on your insurance carrier. Each company has their own guidelines, ranging anywhere from 1 day to 1 week, or possibly longer. On average, you’ll only have a couple days to return the rental car before you have to pay out of pocket.

Luckily, it shouldn’t come as a complete surprise if your car is totaled. As long as you’ve been in regular contact with your adjuster, they should give you a heads-up that a total loss is a possibility. That way you can start your search for a new car before your car is officially deemed a total loss.

If you have any questions about insurance for rental cars, give us a call today. We’re always here to help and happy to answer any questions.

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