Is Your Commercial Insurance Policy Up to Date?

When you own a business in Wheat Ridge, CO, the day-to-day activities can overshadow critical matters like insurance. With your day filled to the brim with personal, family, and work obligations, looking at your commercial insurance policy may not be anywhere near the top of your priority list. Regrettably, this trend can land your business in hot soup. Outdated commercial insurance can force you to incur out-of-pocket expenses when disaster strikes.

Have you been wondering whether you should update your commercial insurance? Don’t fret. CO Insurance Specialist shares a few ways to know when it’s time to update your business insurance.

Has your mode of operation changed?

Have you introduced a new product? Have you moved your business online? Such changes could affect your insurance needs. For instance, if your business is now storing sensitive customer data, you need cyber insurance to protect you against malicious online activities. 

If you are planning to expand your business this year, you must talk to your insurance agent to determine your insurance needs. Your commercial insurance might need additions or subtractions to ensure that you carry the right commercial insurance coverage.

In addition, if the below elements have changed, you need a sit-down with your insurance agent to update your commercial insurance policy.

  • Increase in the number of employees: You need to update your workers’ comp insurance with the correct number of employees. This ensures that you don’t underpay or overpay your premiums. 
  • Improvements in your business premises: Have you added an extra storage room? Perhaps, you have added a spare office to support the increase in staff? Either way, you need to update your commercial insurance policy to capture these changes. Similarly, update your insurance with additions or disposals of assets such as computer equipment, inventories, and furniture. 
  • Neighbors: Are there new tenants around your business premises? If yes, you need to update your liability coverage to cover bodily injuries or property damages you might cause to them. 

Would you like to update your commercial insurance in Wheat Ridge, CO, and its environs? Please contact CO Insurance Specialist for more information.

Types of Coverage for Classic Car Insurance in Colorado

When you are driving a classic car in Colorado, you need specialized auto insurance. Classic car insurance is a little different from standard car insurance and offers coverage as unique as your vehicle. 

At CO Insurance Specialist, we want Wheat Ridge, CO residents to enjoy their classic cars, without worrying about whether they are protected. We can help you get the specific types of coverage that your classic car needs.

Types of Classic Cars Covered

Classic car insurance is unlike any other auto insurance because your car is unlike any other car. We can only offer classic car insurance on specific vehicles. That includes an antique car that is at least 25 years old, exotic and luxury vehicles, classic trucks, hot rods, and modified vehicles.

This list is not complete, there are many other kinds of antique or vintage vehicles that we can help you cover.

How to Qualify for Classic Car Insurance

There are a number of types of classic car insurance that you need to qualify for. A key stipulation in any classic car insurance policy is the limited use stipulation. You can not use your classic car for everyday use. You may also have a mileage limitation, and proof that you have the proper protection or garage for your vehicle. You may also be required to have another car that you use for everyday use.

Like any auto insurance, you must have a clean driving record or at least one that is free of a serious offense.

Types of Classic Car Insurance

The kinds of provisions that you will find in classic car insurance will be property damage and liability coverage for bodily injury or wrongful death. You’ll also have provisions that involve the value of the vehicle.

As every classic car is a classic, the book value of your vehicle is not available. You’ll need to work on an agreed value with your insurance provider. The agreed value is another area where classic car insurance varies from regular auto insurance. Most cars will depreciate in time, yours is likely to increase in value.

You may also get classic car insurance with flatbed towing protection. In the event that your car needs to be towed, you will need a specific kind of tow truck to tow your vehicle.

Get a Quote

This is just the beginning of the various kinds of classic car insurance available to Wheat Ridge, CO residents. Call CO Insurance Specialist for a quote today.

Should new home owners buy home insurance immediately?

Should new homeowners buy home insurance immediately?

Buying a new home comes with many considerations to make—the size of the home, location, proximity to social amenities, entertainment features, and the house’s overall design.  With a whole load of paperwork to do and boxes to move and sort, it’s easy to get carried away and forget about essentials like home insurance. Most Wheat Ridge, CO insurance experts recommend buying home insurance early to give your insurer time to underwrite and determine the appropriate coverage level for you.

Should you buy insurance when buying a home?

It depends on your finances. If you are buying your home on a mortgage, your mortgage company will want to see proof of insurance days before the closing.  The CO insurance Specialist recommends shopping around for home insurance around 30 days before the closing to avoid insurance-related delays. The earlier you begin shopping, the faster you become familiar with your policy.

Buy early and secure your home

Don’t wait till accidents start happening to buy insurance. You might not get the chance to buy the policy when a fire burns your entire home down.  Home insurance is a critical family coverage that protects you, your home, and your loved ones. Liability coverage protects you against legal action when someone gets hurt on your property. If a guest decided to sue you for an injury they sustained when they visited you at your housewarming party, your policy could come in and cover the medical bills and lawsuit.

Shopping early comes with benefits

Buying your policy early means learning what is covered in your policy and what is not. Home insurance policies in Wheat Ridge, CO, cover a wide range of perils but not all of them.  For instance, mold, pest infestations, leaking roof, and normal wear and tear are not covered.  If you buy your policy early, you can learn what is not covered, adjust your policy and avoid filing uncovered claims, which can raise your premiums.

Looking to buy home insurance? Let CO Insurance Specialist help you protect what matters to you most. Call us today!

3 Auto Insurance Myths

Comprehending auto insurance can be challenging, especially for new drivers. However, when you partner with the right agent, navigating the car insurance landscape can be easy. Mastering the ins and outs of car insurance helps you understand whether you have enough insurance, what is covered, and what affects your insurance rate. 

However, with many misconceptions out there, making an informed decision can be difficult. The good news is that CO Insurance Specialist, serving Wheat Ridge, CO and the surrounding areas, is here to debunk common myths inherent in the car insurance world. 

The minimum required by your state is adequate

While it’s vital to observe the state-required minimum insurance coverage, in most instances, it doesn’t provide optimal coverage. Most states require you to carry liability coverages in your auto insurance, but this doesn’t give you all-around protection. 

To that end, you need to consider other auto insurance plans to pay for damages to your car, cover medical expenses in vehicular accidents, and bail you when your car stalls away from home. 

Personal auto insurance will cover your vehicle when used for commercial purposes

If you decide to use a personal vehicle to run business errands, your auto insurance won’t protect you from an accident. Driving a commercial-purpose vehicle has its unique risks that require coverage by commercial auto insurance.

The color of your vehicle affects your insurance rate

This popular misconception can’t be further from the truth. The color of your vehicle has no bearing on your vehicle insurance rate. Insurance companies look at the below factors when computing your auto insurance premium.

  • Driving record
  • Vehicle model
  • Credit rating
  • Gender, occupation, and age
  • Marital status
  • Zip code

Would you like to get more facts on auto insurance? With numerous auto insurance myths flying around, it’s good to work with a trusted insurance partner. Contact CO Insurance Specialist located in Wheat Ridge, CO, to get a better understanding of auto insurance.

Why Business Owners Need Commercial Insurance While They Work At Home

CO Insurance Specialist offers insurance coverage to the Wheat Ridge, CO community. For over 25 years, we have helped our clients find the policies they need to protect their assets. We proudly serve as an independent insurance agency.

Why Commercial Insurance Is Important For Work Home Businesses

Commercial insurance helps Wheat Ridge, CO business owners protect their investments. The policy covers your property if it is damaged or stolen. Liability coverage protects your business if a customer slips and falls while visiting your business or alleges that using one of your products caused an injury or illness. Workers’ compensation protects your business from being held liable if an employee suffers an injury on the job. If you are operating your business from home, commercial insurance is still beneficial in several ways.

Cybersecurity Coverage

If you are operating your business from home, you are likely using a tablet, computer, or some other type of electronics to operate your business. Hackers may attempt to capitalize on this and corrupt your data. Consider adding cyber coverage to your commercial insurance policy. Cyber coverage will help you avoid serious losses if your business network is compromised.

Property Coverage

Business property coverage protects your items if they are damaged or stolen. Take inventory of your personal items used to operate your business before adding coverage.

Business Interruption Coverage

In the event that a disaster occurs and you are unable to operate your business, business interruption coverage will help your business stay afloat until things are restored.

Commercial Auto Coverage

While you are operating your business from home, if you need to use your vehicle to complete tasks, you’ll need commercial coverage. Commercial auto coverage protects your vehicle if it is damaged while you are using it for business-related endeavors.

CO Insurance Specialist Will Help You Protect Your Business

Visit our website today to learn more information about commercial insurance.

Classic Car Insurance Can Help Protect Your Ride

For anyone who owns a classic car, getting the proper insurance policy is important. Unlike regular car coverage, classic car insurance protects a vehicle that’s not commonly seen today and could be very difficult to get parts for. These kinds of vehicles need more than just standard auto coverage, but if they’re being driven on public roads they also have to have the same basic types of coverage as more modern cars. If you’re in the Wheat Ridge, CO area and have a classic vehicle, you can get a policy from CO Insurance Specialist so you can have the type of coverage you really need.

Protecting your classic vehicle is a vital part of enjoying it, whether you’re driving it daily or only taking it to shows around the country. You may have spent a lot of time and effort making the car perfect, or maybe you bought it from someone with all the work already done. It doesn’t matter how you got your classic car looking so great, because either way, you need to protect it. Not only will the right policy add to your peace of mind, but it may also encourage you to drive and enjoy your classic vehicle more, knowing that it’s protected.

Reach out to us at CO Insurance Specialist today, if you’re in the Wheat Ridge, CO area and need classic car insurance. Our trained and dedicated agents are committed to helping you get the right kind of policy for your classic vehicle. Not only can that help you have more fun with your ride, but it can also help ensure that you feel better about the protection you have for a vehicle that means a lot to you. Standard insurance just won’t be enough, but the right policy is available for your needs.

Who should get home insurance in Wheat Ridge?

For those that are moving to the state of Colorado, Wheat Ridge, CO can be a great place to live. This community is near Denver and the local mountains, which offers plenty of options for recreation. When you are looking to purchase a home in this area, you will want to know that you are properly covered at all times. There are many situations in which a property owner should get a home insurance plan. 

Those that Want to Protect Asset

A situation when it is a good idea to get a home insurance plan is when you want to protect your property. Your home will likely be the most valuable asset that you will ever own. Due to this, you need to ensure that you protect this asset as well as possible. Those that get home insurance are going to have coverage if their home is damaged or destroyed. 

Those that Want Liability Protection

Anyone that owns a home will have some personal liability risk. If there is ever an accident that happens in your home and someone is hurt, you could be responsible for the damages. When you get home insurance, there will be components of coverage that will offer protection against this risk. This could prove to be very helpful in some challenging situations. 

Anyone that is looking to get a home insurance plan in the Wheat Ridge, CO area should speak with the team at the CO Insurance Specialist. If you are going to call the CO Insurance Specialist you are going to receive great support and guidance. The team here is able to provide you with personalized guidance and support, which ensures you will be able to pick an insurance plan that covers your home and provides you with comfort. 

Does your auto policy include roadside assistance?

Wheat Ridge, CO residents rely on CO Insurance Specialist for their insurance needs. If you are in the process of purchasing a new vehicle, or it is time to update your current policy, we are here to help. Auto insurance protects you and your family in the event of a loss, and it can also provide some useful benefits. 

Benefits of Roadside Assistance in Colorado

Colorado is an amazing place to live, but it does have quite a lot of roadside hazards! From breakdowns to run-ins with wildlife, roadside assistance in the state is a must-have! Weather can be unpredictable and at times dangerous, especially in mountain areas. There’s no reason to find yourself stranded by the side of the road when there is roadside assistance available with your auto insurance policy. If you run out of gas, encounter inclement weather, have a breakdown or hit a deer or other wildlife, you will enjoy having protection from your policy. 

In fact, there are a number of great features that a robust policy can provide. Yes, it’s important to have the proper level of protection from your policy while also enjoying the advantage of having features like roadside assistance, car rental coverage, and other similar benefits. Now is a great time to learn more about all the different types of auto insurance policies that are available to vehicle owners in our area. Why not find out more today?

We’re here to help you meet all of your auto insurance needs!

We love serving the Wheat Ridge, CO area and look forward to the opportunity to work with you too! Call or stop by the CO Insurance Specialist office today to learn more about the many auto insurance options that are available in our area.

Required Commercial Insurance in Colorado

In Colorado, there are certain types of insurance policies that are required for business owners to have. If you don’t have the insurance you need for your business, or you want more, call us in Wheat Ridge, CO to talk to a CO Insurance Specialist.

Workers’ Compensation Coverage

In Colorado businesses, it is required to have a workers’ compensation policy for your employees. No matter how many employees you have, even if it’s just one, this insurance has to be in place. And, if you have someone who performs work for your business, the state presumes that they are an employee and subject to workers’ compensation coverage. 

Commercial Auto Coverage

If your business owns a vehicle, it is required that it have a commercial auto insurance policy. The policy has mandatory minimums for the amount of bodily injury liability you have for one person hurt in an accident. It must have another minimum coverage amount for everyone who is injured. It also must have a specific minimum for property damage liability that comes from an accident. 

If you use your personal car for business tasks, a personal auto insurance policy likely won’t payout for an accident that happens when it is driven for business purposes. There’s a different type of insurance for those cars called non-owned and hired insurance. 

Optional Insurance for Small Businesses

While these policies are required for small businesses, there are many other types of coverage that are optional. This includes a business owner’s policy, general liability coverage, and cyber liability insurance. Professional liability insurance is highly needed for certain types of businesses. 

Get Your Business Covered

If you need insurance for your small business, call our Wheat Ridge, CO office and make an appointment to speak with a CO Insurance Specialist about the best policies for your business. 

What Does Classic Car Insurance Cover?

You have purchased a classic car and the next thing on your list should be obtaining the proper insurance policy to protect it. The classic car insurance agents at the CO Insurance Specialist in Wheat Ridge, CO understand the importance of providing you with the correct policy to cover the investment you have made in your beautiful classic car.

A classic car insurance policy includes a variety of different vehicles, including classic or antique cars and trucks, exotic vehicles, hot rods, muscle cars, vintage military vehicles, and certain luxury vehicles. While non-classic vehicles depreciate in value over time, classic, collectible, and vintage cars are different in the fact that their value actually increases the longer you own one. 

Classic car insurance covers a classic car’s value and does not take into consideration since a classic car does not depreciate like regular vehicles do since you do not drive it on any type of regular basis. This is due to the fact that as you restore a classic car, and it becomes even older and more classic, its value increases along with your insurance coverage amount.

Classic Car Coverage Options

Classic car insurance provides the usual auto liability coverage that you need when driving your vehicle on public roads since occasionally you will be driving it to or from a car show or other event. You should also obtain a comprehensive policy that will cover your classic car if it is damaged or destroyed by an act of vandalism, a fire, or a natural disaster. If your classic car is stolen, your classic car insurance policy will pay to replace the vehicle or provide you the amount of money the vehicle was worth at the time it was stolen.

Get a Quote!

To obtain a quote and make an appointment with an experienced classic car insurance agent, call upon the agents at the CO Insurance Specialist in Wheat Ridge, CO today!