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Colorado Insurance Blog

Protecting the Specialized Needs of Your Business

No two businesses are identical, but some businesses are considerably more unique than others. From specialized industries to companies that provide niche services, that also means that sometimes standard commercial insurance coverage doesn’t work. The good news for companies in and around the greater Denver, CO area is that the professional and experienced team at AFI Insurance can help with specialty insurance options for those more unique companies like yours.

Insurance Solutions for Specialized Businesses

Does your business design or manufacture a unique part or parts? Does your company provide a specialized service or perform a unique role for clients and customers? If so, there is also a good chance that many operations and functions fall outside standard commercial insurance coverage.

Does your business use or make tools specific and specialized for your industry or trade? Do you perform a service that requires a niche skill set, talent, or ability? There is also a strong likelihood that many of those areas will be left uncovered by standard commercial insurance policies.

Fortunately, with specialty insurance solutions from helpful and knowledgeable agents like AFI, those unique and specialized businesses don’t have to go unprotected with the right specialty insurance plans. As insurance that is designed to be built around the unique needs of your business, specialty insurance provides the protection, security, and peace of mind niche businesses need and deserve.

Business Insurance Created to Fit Your Business

In the most simple terms, specialty insurance is designed to suit the special needs of your business and operations. If you work in a niche industry or market in the Denver, CO, area, talk to one of our helpful agents to discuss your company’s unique needs and operations at AFI Insurance. Contact us to learn more and schedule an appointment to find out how specialty insurance can help protect your specialized business today.

Increased Commercial Storage – How It May Affect Your Insurance Coverage

The Importance of Adequate Storage for Business Insurance

The way you store inventory, machinery, and other materials significantly influences your commercial insurance coverage. If you’re thinking of modifying your insurance plan, thoroughly examine your storage procedures before reaching out to an AFI Insurance agent serving the Denver, CO area.

Elements to Evaluate In Your Business Storage Strategy

Look into the following aspects to ensure your storage practices won’t hinder your insurance plans:

Storage Assessment

Evaluate your storage methods and check for waterproof materials that shield items from moisture, heat, and sunlight. Pay particular attention to indoor and outdoor storage materials, noting any shortcomings requiring improvement.

Improvements to Storage

If your storage is not up to snuff, consider upgrading your procedures. Adequate storage solutions can reduce the risk of damage or theft, thereby affecting the commercial insurance coverage you require.

Security Measures

Implementing security measures, such as cameras, motion detectors, extinguishers, and alarm systems, can lower risk and potentially reduce insurance premiums.

Storage Upgrades

Keep records of any future storage upgrades, as they can necessitate adjustments to your commercial insurance policy.

Get Started with AFI Insurance Today

Contact AFI Insurance for any assistance you may need with your commercial insurance policy. Our agents are here to answer questions and to tailor your policy to fit your business’s unique needs.

Can You Withdraw Cash From Your Life Insurance?

A life insurance policy provides financial aid and security to your family after an untimely passing. However, you may wonder: Can I withdraw cash from my life insurance in a dire situation? At AFI Insurance in Denver, CO, we believe clarity on such matters is paramount before purchasing a life insurance policy.

Withdrawing Cash From Your Life Insurance: A Closer Look

Contrary to popular belief, not all life insurance policies offer the possibility of cash withdrawal. The feasibility of extracting cash largely depends on the type of life insurance you have and the specific terms of your contract. While stories of policyholders successfully withdrawing cash might be abundant, a closer examination of these situations usually reveals they have a particular type of coverage — permanent life insurance.

Term life insurance, typically cheaper and more straightforward than other types, gets you covered for a predetermined period or ‘term.’ It’s indeed an excellent solution to ensure protection, but it doesn’t come with added advantages like cash value from which you can borrow or withdraw. They function more like a conventional insurance plan — pay the premiums, and if you pass away during the policy term, the death benefit goes to your beneficiaries.

On the other hand, permanent life insurance policies such as Whole, Universal, and Variable life insurance come with a cash value component. They may allow cash withdrawals or loans against the policy, providing much-needed financial relief in emergencies. But remember, while this feature adds a layer of flexibility, it also adds complexity to the policy and usually comes at a higher cost.

Choosing the Right Life Insurance with AFI Insurance

At AFI Insurance, we are dedicated to ensuring those in the Denver, CO, area find the type of life insurance that best suits their individual needs and circumstances. Whether you’re looking for an affordable, easy-to-understand term life insurance to protect your loved ones or a more complex, permanent policy with flexible features, we ensure you make informed decisions. Don’t hesitate to reach out to us if you need further assistance navigating your life insurance options or getting quote comparisons.

The main questions to ask when shopping for auto insurance

Auto insurance shopping is often a frustrating and challenging experience. It is even more complicated if you have never bought auto insurance before. If you are shopping for car insurance, make sure to ask an insurance agent the following questions: 

What coverage is necessary for me?

Are you choosing an insurance plan? Be aware of different types of insurance. They are collision coverage, comprehensive coverage, uninsured/underinsured motorist, liability, and more. Deciding on which one you need is not easy. Therefore, ask an insurance agent to tell you more about them. 

What is my deductible?

A deductible is one of the key elements of any insurance plan. You should know the deductible that affects your premium. For example, a low deductible means you will pay more for your insurance.

What is not covered by my insurance plan?

Every single insurance plan has limitations. You should be aware of them before getting a plan you like. Usually, this information is included in your contract. However, it would be best if you also asked an insurance agent to explain everything. 

Who should be listed on my insurance policy?

If other people drive your car regularly, make sure to list them as drivers. Your insurance policy might also cover those who drive your vehicle occasionally, including your extended family, friends, and boyfriend/girlfriend. 

When shopping for car insurance, it is normal to ask questions. And when you ask them, make sure to get the detailed answers. If you plan to buy auto insurance in Denver, CO, or any other nearby area in Colorado, AFI Insurance is who you need to contact. We are here to answer all your questions and help you pick the right insurance plan. 

Home Security Trends That May Affect Your Insurance Policy

Choosing to have security devices installed on your property will prevent theft and vandalism. Consider the following security trends. Then, contact an AFI Insurance agent from Denver, CO.

Smart Devices

Smart devices use technology to operate. These devices require little effort to operate. A property owner can program a smart device from the comfort of their home.

Once the devices are installed, a property owner can monitor the operational status of each device. Smart devices can track movement or record footage of what occurs on the property. Security devices like these will protect a home while it is occupied or unoccupied.

Surveillance Equipment

Surveillance equipment will detect movement on the property. Surveillance equipment can also be used to detect what occurs indoors. This type of equipment alerts an end user when movement has been detected. The alert could prevent a crime from occurring.

Automatic Gates

Automatic gates prevent intruders from trespassing. Automatic gates protect valuables from being stolen. They also increase the safety of children and pets. Automatic gates can be installed along level and unlevel parts of outdoor property.

Upgraded Lighting

Solar lighting or LED lighting can increase visibility in areas that are currently hard to see. The increased visibility may ward off intruders. The new lights will also prevent accidents from occurring. Lights should be installed along driveways, walkways, and other areas that will be driven or walked upon.

Reach out to AFI Insurance

Contact an AFI Insurance agent about the security upgrades that you do. An agent serving Denver, CO, will adjust your insurance policy. The adjustments will reflect the upgrades that have been made.

When is it helpful to have a full financial planning insurance plan?

Financial planners are very important for people all over the Denver, CO area. These professionals are tasked with helping individuals meet their personal financial goals through consultation and long-term planning. While financial planners are helpful for individuals, some risks come with being in this industry, some of which can be mitigated with insurance. There are various situations when you will find it helpful to have financial planning insurance.

When Making a Mistake or Oversight

A financial planner is tasked with helping people make sound financial decisions. However, there are situations when a financial planner could make a mistake or provide guidance that leads to a financial setback. In these situations, a financial planner could face some liability risk. However, when you have a full financial planning insurance plan, you can obtain professional liability and errors and omissions insurance. 

When a Victim of a Cyber Attack

When operating as a financial planner, you will hold significant sensitive and personal information for your clients. It is your responsibility to keep this information safe and secure. Unfortunately, there is a chance someone could break in and do a cyber attack. If this occurs, you could face liability claims. A cyber insurance provision in your financial planning insurance policy can mitigate this risk and offer liability support. 

If you are a financial planner and are in the Denver, CO area, it would always be helpful to have financial planning insurance. When you start looking for this coverage, calling our team with AFI Insurance is a great idea. If you call our professionals with AFI Insurance, we can help you assess your needs and support you in building a new plan.

Four Questions to Ask Your Agent About Specialty Insurance

If you need specialty insurance in the Denver, CO area, contacting AFI Insurance is the right choice. We’re here to help you get the best coverage for your needs. Because this type of insurance isn’t for everyone, it’s important to know when you need it and what kinds of questions you should be asking about a policy. Here are four of the most important questions to ask your agent when determining if a specialty policy is right for you.

1. What kinds of things does a specialty policy cover?

Specialty coverage is for items and events that are unique or different and that are typically outside the scope of standard insurance policies.

2. Is this for personal or business use?

Both commercial and residential or personal policies can be issued for this type of insurance, depending on the type of coverage you need.

3. When should I update my policy?

Anytime there’s a change in the things or events you’re protecting, you may need to update your policy through your insurance agent.

4. How do I know I’m getting the right coverage?

You get the right coverage when you work with a trusted agent to ensure that all the special events and items you need to protect are adequately covered.

Getting the best specialty insurance for your needs is easy and convenient when you work with the dedicated agents at AFI Insurance. Contact us today if you’re in the Denver, CO, area and looking for a specialty policy to provide you with additional protection. No matter what items or events you need to cover, we can help you find the right type of specialty coverage to protect what matters most to you.

Why Your Business Needs Worker’s Compensation Insurance

When you’re the pawner of a business, there are a lot of responsibilities that you have. One is to get a suitable type of insurance to protect yourself and your business. One of the essential types of commercial insurance is worker’s compensation insurance. This offers valuable coverage that no business owner should ever be without. To get started with a policy for your business, call us at AFI Insurance in Denver, CO.

Worker’s Compensation Laws

One reason that you need this type of insurance is that the state of Colorado mandates it. Every business with any number of employees, even just one, must have this insurance protection. In Colorado, anyone who does work for the company is considered to be a business employee. This coverage is highly necessary because of the cost of accidents and other incidents at work. If you have an employee who has an accident at work and gets injured or gets an illness related to their work, this insurance will pay for their medical bills and other assorted costs. 

Double Protection

When you have a worker’s compensation insurance policy, it protects both sides. It protects you and your business by taking care of what could be expensive medical bills. It also protects the employee by ensuring that the funds are available to them if they need them after an accident. This means the employee won’t have to sue you to recover the necessary funds for their medical bills. They will instead work with the insurance company to ensure that the bills are taken care of. 

Get Worker’s Compensation Insurance

When you’re in the market for a worker’s comp policy, call us to get started. We’re available at AFI Insurance in Denver, CO to help you get started.

What Are The most Common myths about life insurance?

Today, life insurance is not a luxury – it is a tool that provides peace of mind and security. However, there are still plenty of myths about this type of insurance. In this blog post, we will debunk some of them so you can make more informed decisions when choosing a life insurance plan for yourself and your loved ones. 

Surprising Myths About Life Insurance

Here are the common misconceptions about life insurance you may not know about:

  • Life insurance is only for older people. The truth is that insurance is beneficial for people of any age. However, if you get insurance at an older age, you may have to pay a higher premium. That is why it is more beneficial to purchase life insurance when you are still young. 
  • Life insurance is expensive. This type of insurance is affordable, especially if you choose the right policy type and proper coverage amount. 
  • Single individuals do not need to have life insurance. Even if you are single and do not have any family members who depend on you financially, you can still benefit from life insurance. For example, life insurance can be used to cover your funeral expenses and pay off any debt you have. It is also a wise investment for your future family. 
  • There is no need for stay-at-home parents to have life insurance. Stay-at-home parents provide expensive childcare, household management, cleaning, and cooking services.

 AFI Insurance In Denver, CO – Reliable And Trustworthy Insurance Company

Life insurance is not obligatory, but it is worth having as it offers plenty of benefits. Many people skip life insurance because of myths and a lack of knowledge. If you live in Denver, CO, or any other town in Colorado, contact AFI Insurance, a reliable and trustworthy insurance company. At AFI Insurance, we will provide you with all the necessary information about life insurance and help you choose the right insurance plan. 

Four things consumers need to know about their auto insurance policy

When a good auto insurance policy covers you, hitting the road in your vehicle is most enjoyable. At AFI Insurance, we can offer quality coverage to motorists in Denver, CO.

Consumers need to be accurately informed about the coverage they’re carrying on the roads. The following are four things that consumers should know about their auto insurance policy. 

The coverage types

An auto insurance policy can include many different types of coverage. Every auto insurance policy contains basic liability coverage. Additionally, auto insurance policies can include collision, uninsured motorist, comprehensive, and rental vehicle coverage.

Motorists should know about the different auto insurance coverage types out there to be sure their policy includes the types of coverage they want and need. 

The coverage maximums

Auto insurance policies specify coverage maximums. A policy maximum is the maximum amount the policy will pay out in the event of liability damages. Investing in an adequate amount of liability coverage is essential to avoid financial problems and debt due to an auto accident. 

The policy deductible

The deductible is the amount you’ll have to put toward damage costs after an accident. Motorists should ensure they always have at least the deductible amount available in an emergency fund to pay out of pocket if they get into an accident. 

The process for filing a claim

Knowing about the claims process in advance helps to reduce the stress of being involved in an accident. Most insurance companies offer policyholders the option of filing a claim over the phone or online if they get into an accident.  

At AFI Insurance, we can offer auto insurance coverage that provides peace of mind to motorists in Denver, CO. If you’re looking for an auto insurance policy, call us today for a quote.

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