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.
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.
Continue reading “10 Insurance Terms Everyone Should Know”
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.
What you need to know about vacation rental property insurance
A few years ago, vacations rentals were few and far between. These days they seem to be on every other street, especially in large cities and mountain towns. Companies like Air Bnb and VRBO have exploded in popularity, and for good reason.
There are many benefits to choosing a vacation rental over a hotel. More privacy, wider location availability, and access to a kitchen are just a few perks.
Continue reading “Vacation Rental Property Insurance: What You Need to Know”
What are the benefits of bundling?
Until recently, there were countless options available for homeowners insurance in Colorado. In the past few years many carriers applied stricter underwriting guidelines. We have even seen some completely pulling their business out of the state of Colorado. Many carriers won’t write a home policy unless the car and home insurance are bundled.
Catastrophic hailstorms cause significant damage and cost a lot of money. That makes home insurance a huge risk for insurance companies in Colorado.
Insurance carriers in Colorado have been in the negative (losing money) for years now. As a result, there are very limited options when it comes to a “standalone” home policy.
There are more options available when you bundle.
Continue reading “Save Money by Bundling Your Home and Car Insurance”
Who pays the bill if you hurt someone while skiing?
Many of us in Colorado get excited after Halloween. That means the holidays are just around the corner and it’s almost ski season!
Ski season is the best time of year for some of us. But, it’s also the time of year when the liability risk skyrockets.
The roads become more treacherous when we start to see rain and snow mixed with the cold weather. Skiing or snowboarding down the slopes also presents a very real risk.
Luckily, there are some simple steps you can take to make sure you’re prepared.
Continue reading “Ski Accidents: Will Insurance Pay?”
Common Home Insurance Questions
Does my home insurance cover flooding?
Simply put, probably not.
Most homeowners policies exclude coverage for flooding. That can include a flash flood, water accumulating in a window well and seeping into the home, or anything between.
A select few carriers now offer an optional endorsement to add flood coverage. But, with most carriers the only way to get coverage for flooding is to buy a separate flood policy.
What is a deductible?
Continue reading “Home Insurance FAQs”