When should you review your life insurance coverage?

Life insurance does not have the same level of need throughout all the years of your life. When you are young, and when you are old, your needs may be less. AFI Insurance in Denver, CO is your local independent insurance agent, and we offer personalized services to our customers. We will discuss all the things to consider when choosing the type and amount that will keep you safe. 

Life insurance is most affordable when you are young, making it an excellent time to purchase the first policy. You may not feel you need it, but it will be needed later on, and if you buy smartly, you will benefit. 

When you buy a house

A house is the largest purchase you will probably ever make, and if you have a mortgage, you need life insurance to cover your mortgage if something happens to you. 

When you get married 

Protecting your spouse is one of the most unselfish things you can do. It is bad enough losing the one you love, but having financial worries, in addition, is just too much. 

When you have children

Children change your life insurance needs the most. It can be pretty overwhelming when you think about them having to survive without you. Determining how much insurance will be adequate is one of the most challenging tasks. You need to think about how much of their upkeeping you will need to provide and for how many years. 

When you retire

Your financial situation will change when you retire, and your life insurance needs may also diminish. This may be a time to consider what exactly your life insurance needs are at this time in your life. 

Contact AFI Insurance in Denver, CO when it’s time to review your life insurance coverage. 

Financial Planning Services To Meet Your Long-term and Short-term Goals

You may wonder about the secret to success that some people have. It may be as simple as turning to the right experts at the right time. AFI Insurance provides financial planning services for people in and around Denver, CO looking to improve their portfolio and achieve their long and short-term goals.

How Can Financial Planning Services Help Achieve Your Goals?

You are likely busy in your life attaining your assets and enjoying your family or hobbies. You likely already know to call in an expert if your computer crashes or your phone screen is destroyed. So why would you try to manage something as important as your future financial stability and your investments without the help of a qualified professional? 

Financial planning services consider your personal short-term and long-term goals and integrate that into any investments and advice given as we help you build an impressive portfolio. 

Making sound decisions today will directly affect your chances of achieving those lofty goals tomorrow. But your life does not have to be all about the far future. We can help you achieve those short-term financial goals while working your way to the farther horizon of wealth and goal achievement. Let us get to know you so that we can provide personal financial advising services. 

If you are success-minded and in the Denver, CO area, contact us at AFI Insurance. We will be happy to answer any questions you have to start your path to financial success one step at a time. We look forward to getting to know you and helping you achieve your goals, no matter how lofty they may be. 

Frequently Asked Questions About Specialty Insurance

AFI Insurance serves the community of Denver, CO, and the surrounding areas. If you have any questions about insurance coverage, our agents will be glad to answer them. Many people ask about specialty insurance when purchasing their auto, home, or business insurance. Here are some of the most common questions. 

FAQs About Specialty Insurance

  • What is specialty insurance, exactly? Specialty insurance is an add-on that covers special items or circumstances that may not be covered by your regular auto, business, home, or other insurance policy. 
  • In what circumstances would a business need specialty insurance? Depending on the size of your business, you may need small business specialty insurance. It is not uncommon for a business to insure a specific element in their profession that is not typically written in most policies with a specialty add-on.
  • Why should I consider a specialty insurance add-on? If you have products or assets not covered by your insurance policy, specialty insurance may cover them. This may be an asset valued more to you than the appraisal value, an asset that, if lost, will bring down the whole business and many other circumstances. 
  • What are the types of specialty insurance? Marine insurance, flood insurance, identity theft insurance, ocean marine insurance, travel insurance, ATV insurance, and more are types of specialty insurance. 

If you live in or around Denver, CO, contact us at AFI Insurance to learn more about specialty insurance and your coverage to protect specific assets in your unique lifestyle. We are happy to answer any further questions about this type of insurance coverage or other insurance policy information you may seek. 

5 Misconceptions About Home Insurance

Most people have a lot of misconceptions about home insurance. Most people are so confused about it that they either don’t get any coverage or buy policies that offer little protection. This post will clear up five of the most common myths about home insurance.

1. Home Insurance Protects You From any Disasters

This is one of the most common misconceptions about home insurance. People think that as long as they have insurance, their home is completely protected from disasters. The truth is, home insurance only protects you from specific disasters. For example, most policies will cover damage from fires, storms, and burglaries. But they generally don’t cover damage from floods or earthquakes. So, if you live in an area that’s prone to these kinds of disasters, you’ll need to purchase separate insurance policies to protect your home.

2. Home Insurance Is Expensive

Another common misconception about home insurance is that it’s expensive. Again, this isn’t necessarily true. The cost of your policy will depend on several factors, including the value of your home, the amount of coverage you need, and the deductible you’re willing to pay. You can shop around and compare rates from different insurers to find the best deal.

3. Home Insurance Only Covers the Structure of Your Home

This is another common misconception. People often think that home insurance only covers the structure of their home. But most policies also cover your personal belongings, up to a certain amount. This means that if your home is damaged or destroyed, you’ll be compensated for the value of your belongings, not just the cost of repairing or rebuilding your home.

4. Filing a Claim Will Make Your Rates Go Up

This is a common fear among people who have home insurance. They think that if they file a claim, their rates will go up, and they’ll pay more for coverage than before. But this isn’t always the case. In most cases, your rates will only go up if you file multiple claims in a short period.

5. Home Insurance Is a Waste of Money

Finally, some people think that home insurance is a waste of money. They figure that they will never have a disaster, so they don’t need coverage. But this is a risky gamble. You never know when something might happen, and you could lose everything if you don’t have insurance.

Get Home Insurance in Denver, CO

Hopefully, this post has cleared up some misconceptions about home insurance. If you’re still unsure about what type of coverage you need, or if you have any other questions, don’t hesitate to get in touch with us. At AFI Insurance, we’re always happy to help our customers find the right coverage for their needs.

Choosing the right policy to protect your first car

Buying your first car is a very exciting experience and the team here at AFI Insurance is here to help all residents in the greater Denver CO area with all of their insurance needs. Before you buy that car, be sure that you have selected the right policy to protect it!

The right policy to protect your first car

Owning a car is a huge milestone and you will likely remember the day you buy it for many years to come! But, before you drive your new vehicle off the lot, it’s important to take the time to choose the right insurance policy to protect your new investment. 

Outside of a house, a vehicle in many people’s largest purchase. It only makes sense to protect such a substantial investment. Now, the first time you look at your auto insurance options, you may feel very overwhelmed. There are definitely a lot of options to choose from. Luckily, sitting down with a local agent to review these options is an effective way to make this process a lot less stressful.

Be sure that you have the coverage you need. And you may want to consider features like roadside assistance, car rental reimbursement, and safe driver discounts when making your selection. Even though it can be an overwhelming experience at first, it is one that is absolutely necessary. It is also recommended that all insurance policies are reviewed on a regular basis as many times your needs can change.

Give us a call today!

Denver, CO area residents can rely on AFI Insurance for all of their insurance needs. Give us a call or stop by our office today and learn more about the many auto policy options that are available in our area.

What Kind of Vehicle Should I Purchase for My New Teen Driver?

So, the time has come for your teen to start driving. Aside from purchasing sufficient auto insurance coverage from an agency like AFI Insurance, serving the Denver, CO area, you also must take care of the vehicle that you choose for your teen. The vehicle chosen will not only affect how safe your teen is on the road, but it will also have a direct impact on your auto insurance premiums. Here are a few tips as you embark on your teen car-buying journey.

New or Used Car?

While the absolute most advanced safety technology features will be found in newer vehicles, this doesn’t mean that you have to go with a new car. A new car will mean a car payment, so keep this in mind as well. Believe it or not, it is possible to get a used car that has very similar safety features to newer cars. In the end, you should go with what you feel comfortable with after speaking to your insurance agent about the costs associated with insuring a new vehicle. 

Big or Small Vehicle?

Ultimately, it is a general consensus that you should avoid SUVs, trucks, and other large vehicles for your teen driver. This is because these vehicles can be a little more difficult to maneuver, and they’re more susceptible to being involved in a rollover car accident. At the same time, though, you will want to avoid extremely small cars, since compact vehicles have very little protection. In the end, you should opt for a midsize sedan or even an SUV. These will provide plenty of cargo space for a teenager while also being safe and easy to maneuver.

There are plenty of other factors that should be taken into consideration, such as crash test ratings, airbag placement, horsepower, and more. When you’re ready to obtain a car insurance quote, contact AFI Insurance, serving the Denver, CO area.

Required Commercial Insurance in Colorado

When you do business in Colorado, there are certain commercial insurance types that you are required to have. Without these, you can put your business in financial danger both of accidents occurring and of being assessed fines and other penalties by the state. If you need commercial insurance for your business, give us a call at AFI Insurance in Denver, CO.

Workers’ Compensation Insurance Coverage

In Colorado, all businesses must have workers’ compensation insurance. This is necessary to have because it pays for the medical bills and lost wages that employees get when they have an injury at work. This protects your employees by making sure that funds will be available for that purpose if an accident should happen. It also protects your business by protecting it financially in case of an accident. 

Commercial Auto Insurance

In Colorado, it is required for you to carry commercial auto insurance for either a company vehicle or a personal one that is used for work activities. This insurance must have coverage for bodily injury liability as well as property damage liability. There is a required amount for one person who is injured in an accident and another amount required for two or more people injured. This protects your business in case an accident is caused by one of your vehicles. It can also be helpful to get other types of coverage along with the required ones.

Professional Liability Insurance

This type of insurance covers you against errors and omissions that can cause damages. This type of insurance is only required among those in the health profession, but it’s also highly recommended for other professional services businesses such as architects and attorneys. 

Get Your Commercial Insurance Coverage

If you have a business in Colorado, you will need commercial insurance in most cases. To find out more, give us a call now at AFI Insurance in Denver, CO.

How Does Whole Life Insurance Work?

When you are planning for your future, life insurance should be a part of those plans. Getting term life insurance comes with a lot of advantages, making it an extremely popular way to ensure the financial future of your family. If you want term life insurance, or you have questions about it, give us a call now at AFI Insurance in Denver, CO.

Whole Life Insurance

One of the most popular features of whole life insurance is that it’s good for the rest of your life as long as you keep paying the premiums. If you keep paying them as agreed, even the insurance company can’t cancel the policy no matter how old you get. Unlike term life, it doesn’t expire at a specific date. This delivers great peace of mind to those who don’t want to have to find a new insurance policy when they get older. 

Cash Value

A whole life policy also builds up a cash value over time. Some of the amounts of the premiums paid are put into investments, and those investments yield money. Part of those returns is then made available to you as a policyholder in the form of a cash value. That cash value is there for you to borrow against when the need arises. This is another aspect of whole life that can bring you peace of mind. If you were in a financial problem, you can simply borrow against your policy. The amount borrowed is then paid back just like any loan. If the policyholder dies before it is all paid back, the outstanding amount is deducted from the death benefit. 

Get Your Own Whole Life Policy

If you want the peace of mind that this type of policy brings, give us a call at AFI Insurance in Denver, CO to find out more. 

Stay Protected With Home Insurance

When you own a home, getting home insurance is one of the most important things you can do to protect your home and your future. Home insurance offers you several different types of coverage all in one policy. All of these coverage types are important to have as a homeowner. If you don’t have the home insurance that you need to protect yourself, call us at AFI Insurance in Denver, CO to talk with an agent. 

Coverage for Your House

The house itself generally represents your biggest investment. That’s why it’s so important to protect it financially. With home insurance, you get comprehensive coverage for the entire house. Your policy covers specific types of occurrences that can happen, such as accidents and disasters, and will pay for the house to be repaired or even rebuilt if the need arises. This protects you from having to come up with all of that money yourself. Major repairs after a covered incident can cost tens of thousands of dollars to repair- or even more. Protect yourself from these costs by having home insurance. 

Protection for Your Possessions

Next to your home, your belongings may represent your second-biggest investment. When you add up the cost of everything that is in a home, the cost can be much higher than you’d think. Home insurance protects you against the loss of your possessions by covering them with a blanket of protection. If a covered incident happened and your items were damaged or even ruined or destroyed, your insurance policy can help you to replace those items without you having to pay for all of them yourself. 

Stay Protected With Home Insurance

It’s important to always keep your home protected with home insurance. If you don’t have the insurance coverage you need, call us now at AFI Insurance in Denver, CO.

Colorado Home Insurance Guide: Updating the Backyard? Update Your Policy

When you are updating your backyard, the thrill of the excitement of it all could make it very easy to forget that you need to take care of some administrative details. Along with permits and contractors, you need to make sure that your Colorado home insurance policy has been updated.

At AFI Insurance, we want Denver, CO homeowners to be covered for every liability when they are renovating. Learn more here about what you need to do with your home insurance when you are renovating.

Tell Your Insurance Company

You don’t have to tell your insurance company for every new shrub or tulip that comes home, but they do need to know of any large-scale renovation or update.

It is important to tell your insurance company when you are updating your backyard for a number of reasons. They will want to know how it is being done if you are hiring people to do it, and what the expected value of the renovation will be.

You may need to increase your liability coverage or discuss the changes that are happening.

If you have a renovation without discussing it with your insurance company, you run the risk of voiding your home insurance policy. Unexpected events happen. If you haven’t updated them, and a problem happens, you could have a claim denied, or lose your policy altogether.

Factors to Consider for Backyard Renovations

When you are looking at updating your backyard, there are a number of factors that your insurance company will take into consideration. The size and the scale of the renovations will be taken into consideration. 

Information like the type of construction, finishings, and square footage will factor into your conversations with your insurance company. The type of renovation will as well. If you are adding high-risk items such as a pool or hot tub, you increase your everyday risk of liabilities and will have to change your coverage there as well.

You may not see many changes in your policy, but you should talk to your insurance company or get a quote when you are updating your backyard.

Get a Quote

When you are updating your backyard, update your insurance company. Or, shop around for quotes with an updated backyard. At AFI Insurance, we help Denver, CO residents protect themselves from risks when they are renovating. Call us for a quote today.