Auto Insurance Coverage Options

As a driver, you face several risks every time you hit the streets of Wheat Ridge, CO, including collisions, theft, vandalism, and much more. However, having auto insurance with CO Insurance Specialist ensures that you are financially protected in case of an unknown risk.

The state of Colorado requires all drivers to carry auto insurance, failure to which you can face penalties such as fines, license suspension, community service, and 4 points on your driver’s license. In addition, the Colorado DMV requires you to show proof of auto insurance before you can register your car or renew registration.

Drivers must have the following coverage options:

Property Damage Liability

This coverage covers expenses related to the damage to someone else’s property when you cause an accident

Bodily Injury Liability

This coverage caters to the expenses related to bodily injuries of a third party when the accident is your fault.

But, other smart coverage options to add to your auto insurance policy include:

Comprehensive

Comprehensive coverage caters to the cost of repairing or replacing your vehicle in case it’s damaged due to non-collision accidents, for instance, vandalism, theft, wildlife, and much more.

Collision

Collision coverage caters for the cost of repairs to your vehicle in case it’s damaged after hitting or being hit by another vehicle or object.

Uninsured/Underinsured

Even though auto insurance is compulsory, some drivers still don’t carry it while others don’t have enough coverage. This type of coverage covers expenses in case you’re involved in an accident where the other party is at fault but has less or no insurance.

Medical Payments

This coverage caters for your medical expenses and those of your passengers in case of an accident regardless of who’s at fault.

At CO Insurance Specialist, we offer affordable, reliable auto insurance policies. Contact us today for a worry-free driving experience in Wheat Ridge, CO.

What Happens If You’re Involved In A Hit and Run Accident?

Drivers in the Wheat Ridge, CO area can turn to the agents at CO Insurance Specialist if they have concerns about their insurance coverage. Being involved in a hit and run accident can be an upsetting experience, especially when you don’t know who to blame for the damages, Getting your vehicle repaired is your primary concern, but who will ultimately pay for it?

File A Police Report

If you find yourself the victim of a hit and run accident, your first phone call should be to the police. You will need to file a police report and get the names of any witnesses that may have been present. The police report should be filed as soon as possible so they can begin their investigation while the leads are still fresh,

Call Your Insurance Agent

Your next step is to call your insurance agent and let them know what has happened. Your insurance agent will discuss your options with you. They will also be in communication with the police department if the other driver is ever identified. Once your agent has everything processed, they will help you to get the necessary repairs for your vehicle. 

At CO Insurance Specialist, residents who live in or near Wheat Ridge, CO can talk to an agent to find out what they need to do if they are involved in a hit and run accident. It’s imperative that you call and schedule an appointment as soon as possible so that your car can be repaired as quickly as possible. Whether you are looking for a new policy or have questions about an existing one, they can help!

 

Types of Commercial Insurance for Freelancers

Wheat Ridge, CO has seen an increase in freelancers lately, which is typical for the national trend sweeping the nation. Unfortunately, we at CO Insurance Specialist have noticed freelancers aren’t taking the proper steps to ensure themselves. That’s because they don’t quite understand that they are a business and might need some protection. Therefore, it is critical to know what kind of freelance commercial insurance is available and how it helps protect your financial freedom.

The Types You Can Expect

When buying commercial freelancer insurance, your options include:

  • General Liability – Covers you when somebody tries to sue you after suffering a bodily injury. Can also protect you against slander, libel, and copyright issues.
  • Property Coverage – If your freelance business includes property (such as an office in your home), commercial property insurance will cover any damage that occurs to it.
  • Professional Liability – When your actions somehow cause financial problems for your clients, this type of coverage can protect you in lawsuits.

Thankfully, you can add all of these types of coverage to your commercial insurance to create a diverse policy that ensures maximum protection.

Is It Strictly Necessary?

While you might not strictly need freelancer commercial insurance, it’s great to have it when you need it. Without this type of coverage, you could be sued and end up losing everything in a lawsuit. However, your liability insurance will protect you and ensure that you can stay in business and even rebound if you lose the lawsuit. When you do, your liability insurance will pay.

Protect Your Freelance Business

So if you are a freelancer in Wheat Ridge, CO and want to protect your business needs, please don’t hesitate to contact us at CO Insurance Specialist. We will take steps to ensure that your business needs are protected and that you don’t suffer from any losses.

When Does a New Construction Need Home Insurance?

Many people only dream about building a brand new home in Wheat Ridge, CO. What a lot of them don’t realize is that building a new home is often much less expensive than purchasing one that has already been built. Building a home is especially cost-efficient if you are able to perform some of the work yourself, such as framing it, painting the walls, hanging the drywall, etc. For now, let’s take a quick look at when a new construction needs to have insurance on it. 

When Does a New Construction Need to Have Home Insurance?

You may think that you need to wait until you move into a new home before putting insurance on it. What happens, though, if something was to cause damage to it during the construction process? This is why you need to speak with an insurance specialist about the types of insurance you can put on a home while it is being built. 

Take for example your new home is almost completely done and a windstorm takes place and rips off the roof that was just installed. Who is responsible for paying for the removal, repair, and replacement of a new roof? You are, and if you don’t have proper insurance in place, you are going to find yourself reaching far into your pockets to pay for the accompanying expenses. 

From the very first day that you decide you want to build a new home, you should contact CO Insurance Specialist to see what types of insurance you need to invest in. You may find that you are able to protect your home while it’s being constructed for only a few dollars a month. 

Contact CO Insurance Specialist today serving the Wheat Ridge, CO area to learn more about protecting your new construction with insurance. 

Make Sure You Have the Right Insurance Policy to Protect Your Classic Car

Classic Cars are Both a Hobby and an Investment

When you stop to think about the investment that you have made in your classic car collection, in terms of both money and time, it becomes clear that the appropriate type and insurance level is essential. If you are in the greater Wheat Ridge, CO area, contact CO Insurance Specialist for guidance during your insurance selection process. 

When choosing the correct policy to cover your classic car, be sure to consider the following:

  • Is the car stored in a garage full-time
  • How many miles, and how far from home is it typically driven each year
  • Your previous driving experience and record

Classic car enthusiasts typically enjoy taking their autos out for Sunday drives or to meet up with other drivers at car shows and local rallies. While there are certain restrictions that are in place for coverage of classic cars, the team at CO Insurance Specialist will work with you to find the policy that is appropriate for your needs. Collectors and car enthusiasts require a specialized policy and an agency that understands the intricacies of their investment.

Classic cars that are driven more than approximately 5,000 miles each year can be more difficult to cover, as there is a greater chance for loss. If your situation falls outside of the typical guidelines for obtaining a classic car policy, we will work with you to find a workable alternative whenever possible.

Classic cars are a unique and meaningful asset, and knowing that you have the proper insurance can provide you with a lot of peace of mind. Stop by or call CO Insurance Specialist to learn more about protecting your classic car in the greater Wheat Ridge, CO area. 

The Basics of Classic Car Insurance

Do you own a precious vintage auto? If so, then classic car insurance is the best policy for you rather than the typical auto insurance coverage. Classic car insurance providers such as CO Insurance Specialist in Wheat Ridge, CO offer protection to these highly-priced autos than any other standard coverage. Since classic autos are normally used on rare occasions, they are limited to car damages hence fewer insurance claims than the regular autos. This post will outline some of the qualifications and benefits of classic car insurance.

Qualifications for classic car insurance

While shopping for your classic car insurance, make sure that you and your vehicle qualify for the coverage. Below are common restrictions and factors that determine if your auto qualifies for this insurance:

  • You are the registered car owner
  • You must be 25 years and above
  • You have at least 10 years of driving experience
  • The auto is only used for relaxation purposes
  • You hold a great driving record
  • The auto’s use is not more than 5,000km/year
  • The car will remain in Wheat Ridge, CO
  • You’ll only use the car to travel to shows – not for family trips/vacations
  • You have another passenger auto for daily use insured to a separate policy
  • You keep the car in a safe location like a private barn, residential garage, or rental storage unit
  • You will never take it on an off-road expedition or race.

These qualifications may seem strict but they are put in place to protect your vintage car from damage. Here are the benefits or classic car insurance:

  • Customized coverage precisely for you and your auto’s needs, like frequency of use and type of vehicle –for autos that are in garage or museum year around.
  • Emergency coverage services
  • Special events coverage for modified or stock/ special interest.
  • Fewer premiums for less mileage- you only use it in shows and weekends
  • Lower premiums
  • Spare parts coverage

If you reside in Wheat Ridge, CO, and its environs, feel free to contact CO Insurance Specialist for more information about classic car insurance or for a quote.

How Will Commercial Insurance Help Me?

If you own or manage a business, taking the necessary steps to ensure your investment, business, and employees are properly protected is a necessity.  For those that are in the Wheat Ridge, CO area, one of the best ways to do this is to get a full commercial insurance policy in place.  A commercial insurance policy could help you in several different ways.

Cover You From Liability

If you produce a product or service or routinely have customers into your place of business, you are taking on a lot of liability whenever someone uses your items.  When you have a commercial insurance policy in place you will receive liability insurance coverage.  This will protect you from expenses associated with injuries, illness, or other losses that you could be deemed liable for.

Property Coverage

If your business owns real estate or valuable equipment and merchandise having a commercial insurance policy in place will help to protect your assets.  If any of your business assets are damaged, destroyed, or stolen, the commercial insurance policy will provide you with full coverage to replace those items.  You can even receive business interruption insurance that will provide you with cash flow if you are not able to operate for a period of time.

Workers Compensation

Workers compensation is a type of insurance that is often required by law.  It will provide coverage for you and your employees in the event they are injured while working.  In Colorado, if you have four or more employees you will be required to carry workers comp insurance.

Since picking the right commercial insurance policy is such a big decision for Wheat Ridge, CO business owners, speaking with CO Insurance Specialists would be a great option. CO Insurance Specialist will help build you a commercial insurance plan that provides you with necessary coverage.

Does My Commercial Insurance Cover My Business Vehicles?

As an entrepreneur, you need insurance protection for the trucks, cars, vans, and other vehicles you use to do business or for personal business travels. Your personal auto insurance doesn’t cover some of the vehicles you use at work. As a result, you require a separate policy known as commercial vehicle insurance. If you conduct your business in Wheat Ridge, CO, you can get this coverage from insurance companies like CO Insurance Specialist.
 
Most business people in different states are required to buy liability insurance for property damage and bodily injury that could occur due to an accident involving your company vehicles. Other states also require business owners to have underinsured/ uninsured motorist coverage including medical payments coverage. You may also buy physical damage coverage for the vehicles your company hires, owns or leases. 
 
Each vehicle used in your firm is separately listed on the policy along with its coverage limits. In simple terms, it means that you can pick different coverages for different vehicles, although this is determined by the characteristics of the vehicle and the protection you require for it. 
 
Which vehicles are protected?
 
The scope of coverage can either be narrow or broad depending on the company’s choice of options. For instance, the company can apply for one specific car or a policy may be written for a named liability exposure that may arise when any vehicle in the firm is used (broad coverage).
 
To be on the safe side, you should get coverage for all the vehicles your business uses, including those that the company does not own, lease, or hire. This coverage also protects a firm from any liability when an employee drives a personal vehicle for business purposes. 
 
You can get your commercial auto insurance coverage from CO Insurance Specialist, a company that serves the Wheat Ridge, CO area. Contact us for more information.

How to Determine the Right Amount of Auto Coverage

If you own a vehicle in Wheat Ridge, CO, you should already know that you need to have auto insurance before you drive it anywhere. Having this coverage is something that is required by law in the state. However, there are some people who want to have more than the minimum state coverage so they can be better protected. If this is the case for you, use this guide from CO Insurance Specialist to find the right amount of coverage for you. 

  • Make sure you at least have the state minimum requirements. If you do not have the minimum coverage, you could end up in some legal trouble as a result. Verify you at least have this coverage at a minimum. 
  • Consider getting coverage to match the value of your vehicle. If you have a newer vehicle or one that has a higher value associated with it, you may want to consider getting enough coverage to match the value of it in case anything were to happen. 
  • Explore different deductible limits. Higher deductibles usually mean lower premiums and you can get more coverage if you can handle a bigger deductible. Do not opt for a higher deductible if you cannot afford to pay for it, however, or you could find yourself in some financial trouble.

If you are still not sure just how much coverage you should have or if you would like to take a look at your current policy, be sure to reach out to us today here at CO Insurance Specialist, serving Wheat Ridge, CO. We will take a look at your policy to make sure there are no gaps in coverage and can even help you find a new policy that meets your needs and your budget. 

Home Insurance Policies: What is Covered, What is Not

Home insurance policies protect the most important things in your life. Some subscribers, however, are confused by what exactly is covered by their policies. CO Insurance Specialist want to ensure that all homeowners in the Wheat Ridge, CO area understand their risks. What is covered by a typical homeowner’s insurance policy? What isn’t?

  • Your home’s structure is protected by your policy from various threats. This includes repairing or replacing the walls, floors, roof, and other necessary components of the dwelling. By default, most policies cover damage from natural disasters like fire, hurricane, and lightning. Damage from floods, earthquakes, and normal wear-and-tear are generally not included. You may be able to obtain coverage, however, with a customized policy. Your insurance agent can give you more details.
  • Personal belongings like clothing, artwork, and electronics are also covered by your primary homeowner’s policy. Keep in mind, these policies have a payout limit. If something happens and you lose everything, your insurance may not give you enough to replace everything. Those with expensive collections should purchase additional coverage to ensure they will be reimbursed for the loss of their property.
  • If someone hurts themselves while on your property or has their belongings damaged, your liability coverage will pay medical bills, court fees, and any other costs associated with the case. It does not cover damage to your own property or injury to members of your household. Additional policies can cover these gaps.

Each insurance is different. Agents customize coverages to suit each individual case. Do you have enough homeowner’s insurance for your home in the Wheat Ridge, CO area? Contact the experts at CO Insurance Specialist for a customized analysis of your insurance needs.