Commercial Insurance Choices for Rental Shops

Denver, CO rental companies require a large number of commercial insurance policies to protect their business model. Thankfully, at AFI Insurance, we can provide you with many options that help protect your rental business from serious issues.

Unique Challenges for Rental Companies

When you rent out goods, such as vehicles or appliances, you need to ensure a broad array of different things. For example, you need to ensure your personal property – the items that you rent – to make sure that damage caused by your customers can be repaired.

However, you also need to make sure that your policies cover any injuries that could occur to your customers. For example, a malfunctioning vehicle could injure somebody renting a car from you. Therefore, you need to make sure that you create a comprehensive commercial insurance plan.

Types of Policies to Consider

Individuals who run a rental business should consider, at a bare minimum, the following types of high-quality commercial insurance:

  • General Liability – This insurance helps to protect you from claims by your customers and ensures that lawsuits don’t end your business.
  • Workers’ Compensation – These policies pay for injuries caused to your rental team, such as problems triggered by vehicle mechanical failure.
  • Property Insurance – All of your property – including your rental items – need to be insured to avoid serious loss in the case of accidents or disasters.
  • Commercial Auto Insurance – For companies that rent vehicles, commercial auto insurance is a necessity. These policies protect you from total loss if a driver totals a vehicle.

Let Us Help You Find a Policy

High-quality commercial insurance for rental companies in Denver, CO doesn’t have to be a dream that you never achieve. Please contact us at AFI Insurance to learn more about the benefits of these policies and what you can do to ensure you get the best possible rates.

 

 

Detailed Description on The Coverages by Home Insurance Policy

Home insurance policy has coverages that aid you in making repairs to your home or to replace belongings and assets in case they get destroyed by fire, theft or other perils. Having your home insured against such tragedies is important, as well as choosing a policy that fits well with your financial abilities, your goals, plans, preferences and the concerns you want to address.

Denver, CO Insurance Agency. AFI provides insurances for people in Colorado which is a legal requirement for all car and homeowners. AFI Insurance helps them decide the best insurance coverage to have. Working with a Colorado agency equips you with vital information you need to purchase a policy.

When selecting coverage, have in mind the problems you seek to address as well as the worries you have in mind. A basic coverage provides a simple plan. It is used by homeowners who just want a simple coverage to their homes. An additional liability plan is the best in case you feel that a basic plan is not enough for you. Additional liability plan is the most preferred if you have a pool or a pet compared to a basic plan.

Denver, CO agents work with you to help you choose the plan that best fits in with your specific budget and one that addresses all your needs. Evaluation of a plan is important before purchase to determine the cost and the coverage and avoid making a wrong insurance purchase.

It is important to note that the initial estimate is not the final price. This is because you may want to add coverage to a plan. Wait till you have finalized and made a purchase of the plan before making assumptions on the cost. At Denver, CO, the agents help you make informed decisions after comparing the options you are presented with and narrowing down the choices till you have the best. 

We are an independent specialist broker dedicated to providing our clients with the best insurance deal on their home insurance. If you are looking to buy a good home insurance policy at an affordable price, contact us for the best deals in Denver, CO. 

 

Benefits of Proper Tire Maintenance

The agents of AFI Insurance are always available to help their customers in Denver, CO stays safe while they are on the roads. In addition to selling auto insurance, they can also offer recommendations about vehicle maintenance. These tips will allow you to get the most out of your car and reduce your risk of an accident, especially during the harsh Colorado winter.

Reduces Your Risk of an Accident

Proper tire care can reduce your risk of being involved in an accident. Maintaining proper tire pressure helps to keep the exact amount of tread on the road. This increases traction and helps to prevent skidding and sliding, especially on wet surfaces or gravel roads. It’s also important to monitor your tires’ tread. If you can insert a penny with Lincoln’s head down into your tread line and there is a gap between his head and your tread, you may want to look into getting new tires. Worn tread reduces traction.

Increases Fuel Efficiency

Properly inflated tires will help your car to get the gas mileage it’s supposed to. Each type of tire requires a specific amount of air pressure. While there is a tire pressure range that is optimal for each tire, letting your pressure get too low will mean uneven wear and tear on your tires. Cooler temperatures will lower the air pressure in your tires, so in order to get an accurate measurement, drive your car for a few tires so they can warm up a little.

Proper care and maintenance of your vehicle are essential if you want it to last. This is especially true of your tires. If you live in the Denver, CO area and would like to have a review performed on your existing policy or if you are simply looking for a new auto policy, call the agents of AFI Insurance today. They will go over your options and find you a policy that gives you the peace of mind you deserve!

What Is a 403(b) Plan and Why Is it Important?

Have you been told you may be eligible for a 403(b) plan? If you had never heard of it before and want more information, you have come to the right place. 

Basics of the 403(b) Plan

The 403(b) plan, also known as the tax-sheltered annuity plan, is a retirement plan that can be put in place only by specific employees of tax-exempt organizations and public schools, as well as certain ministers. Just some of the many types of tax-exempt employees who are eligible include teachers, librarians, nurses, doctors, and administrators of schools.

It can be in the form of either mutual funds or annuities. Features within this plan are comparable to what you would find with a 401(k) plan.

Employees can set up a custodial account if they want to invest in mutual funds. They also can get an annuity contract that they buy from an insurance company. There also is the retirement income account that may be established for church workers.

Benefits to Having a 403(b) Retirement Plan

One of the greatest things about the 403(b) retirement plan is that funds can be vested over a shorter period than is the case with 401(k) plans. Some of them allow for you to vest funds immediately. 

Another benefit is that any returns and earnings on the amounts in your 403_b) are tax-deferred until you withdraw them. This means that it will not factor into what you owe in taxes. When it comes to a Roth 403(b), the returns and earnings only are tax-deferred if withdrawals are considered to be qualified distributions. Employees who are 50 years of age or older typically are able to make catch-up contributions to their plans.

Depending on the employer, employees may have eligibility to receive matching contributions. An example scenario is that an employer may match funds at 50 percent of the employee’s contribution up to a certain percentage of his or her salary. For an employee who makes $75,000 annually and makes a 6 percent contribution throughout that year, the employer’s contribution would be $2,250 over that year.

All in all, the 403(b) retirement plan is an excellent way to boost your retirement goals. If you want more information about the 403(b) plan and if it is right for you, reach out to AFI Insurance today. Serving the greater Denver, CO area, AFI has been instrumental in helping many individuals make sense of navigating the insurance world.

 

 

What Types of Specialty Insurnace Exist?

Insurance is a varied thing, there are coverages for just about anything you could ever imagine. That being said, knowing what types of specialty policy exist and what you might be able to get covered can help you to make sure you have the right policy. For those in the Denver, CO area, the agents with AFI Insurance can help you to find the perfect specialty policy.

Some of the most common specialty policies have to do with items that you own. You can take out policies for firearms, for jewelry, for collections, and more. These policies are going to cover the price of replacement of these items should they become lost, damaged, or stolen. These policies are often taken out against the value of the item and are going to be based on the appraised value of the item. If you have a collection or have items that are more expensive that what might be covered on a typical home policy, you may need to look into a specialty policy.

There are other types of specialty policies. Another type is umbrella insurance, this covers just about anything on top of policies that you already have in place. Still another policy you might not think about it event insurance. This is going to be insurance to help cover the cost if something goes wrong at the event, if something is damaged, or if the event is canceled for any particular reason. It is important that if you have any sort of specialty insurance you might be thinking of taking out, that you take the time to talk with an agent about what policies are available.

For those in the Denver, CO area, the agents with AFI Insurance can help you to find the right policy for your needs.  

Can I Have My Insurance Put Into A Trust for My Children?

One of your biggest concerns as a parent is providing for your children if something should happen to you. The agents of AFI Insurance serve residents living in the Denver, CO area. They understand those concerns and can help you create a policy that will provide funds for your children’s welfare in the event you are taken from them. Trust funds are just one option that can be used to earmark fund for each of your children.

Creating a Trust for Minor Children

If you plan on designating a specific amount of money for each child to be placed into a trust, you will need to find a beneficiary who is willing to carry out your wishes once you have passed away. While you can designate each child as a beneficiary, the parent or guardian of the child will gain control of the funds upon your death and there will be no guarantee that the money will be used solely for their well-being. 

The Right Beneficiary

Choosing the right beneficiary ensures the proper steps will be taken to put the money in a trust fund where it can be used as needed to care for your child. If this is what you are interested in doing, you can name your family’s attorney as your beneficiary allowing them to establish the trust funds in your children’s names.

In Denver, CO, the agents of AFI Insurance can answer your questions and address any concerns you may have. If you want to learn more about setting up a trust fund or choosing the right beneficiary, call their office today and schedule an appointment. They can help you get the right policy to meet your needs.

Why Keeping Your Company Facility Up to Code is Important

If you are a business owner, your business facility is one of the biggest assets you have. This is the place where you will conduct your business and it is the location that customers associate with your business. Keeping your facility up to code is important for a number of reasons. 

Customer Impressions

Your facility is often the first encounter that your customers will have with your business. When your customers first arrive at your facility they will quickly form a first impression of you and your company. Keeping your company facility looking nice and maintaining safety codes will improve your impressions on your customers.

Safety of Employees

Keeping your company facility up to code is also important to the safety of your employees. The safety and building codes that are in place are set there to keep employees and customers safe. This is also a protection for you as the business owner because if a customer or employee is hurt at your facility then you could be held liable in a law suit or in a worker’s compensation suit. These types of expenses could be devastating to your business. Taking the time now to make your company facility safe will save you money in the long run even though you may need to invest money initially. 

Respect in the Community

The community in which you operate your business will have an opinion on you and your company. You want to establish a good reputation and relationship with your community. Keeping your facility up to code, nice looking and safe will all help achieve this goal. When you have a good working relationship with the community in which you operate, you will be able to benefit in many ways. 

If you would like to learn more about commercial insurance contact AFI Insurance serving Denver, CO. 

Four Ways to Protect Your Vehicles

If you have a vehicle of your own, then you understand how important it is to protect it. Your vehicle is your means of transportation and you want to do all you can to make sure it lasts as long as possible. The longer it lasts, the longer you can keep from having to go buy a new one. Here at AFI Insurance serving Denver, CO, we put together a bit of helpful information to help you understand how to protect your car. 

Get Auto Insurance

Everyone who owns or drives a vehicle needs auto insurance. You are sure to rest easier at night knowing you are protected with auto insurance because if something was to happen, your policy could kick in and provide awesome coverage. The level of coverage you have is, of course, going to be determined by the type of policy you have. You will need to speak with your agent to get a good understanding of your policy. 

Keep Them in a Garage

Instead of living your vehicles out on the streets or in a driveway, you should keep them in a garage if possible; this helps protect them against thieves.

Don’t Park Near Other Cars

When parking, try to park away from the other cars; this helps ensure you don’t get door banged or people don’t lean up against your car when walking by it and accidentally scratch it. 

Keep Them Locked at All Times

Lastly, you will want to keep your doors on your car locked at all times. Even if you don’t keep anything valuable in your car, you want to make sure no one gets in and vandalizes it. 

To learn more about protecting your car, contact AFI Insurance serving the Denver, CO area today.

Misconceptions about Home Insurance

Some homeowners believe when they have home insurance in Denver, CO, that they are covered no matter what happens. However, that’s not the case and there are a few common misconceptions about home insurance.

Flood Damage Is Covered

Home insurance won’t cover flood damage and you will need a separate policy in order to be covered in the event of a flood.

Medical Expenses Are Covered

The medical payments option in your home insurance is not designed to protect you or your family in the event of an injury, but instead is used to protect any guests that get injured on your property.

Making an Inventory List Is a Waste

The inventory lists actually serves as your proof of ownership, so when you need to file a claim you will be asked to list all the items that were lost. Don’t forget anything so that you can maximize your reimbursement.

Insurance Covers All Your Valuables

Expensive valuables, such as jewelry and furs, may not be covered. You should double check with your agent at AFI Insurance to see how much coverage you have, and then get an extra policy that covers the possessions you need protected.

Home Insurance Will Cover Mold

Many times home insurance will not cover mold or damages that are caused by poor maintenance. Insurance is not there to help you maintain your home and you alone are responsible for home maintenance.

You Are Required to Have Home Insurance

Many mortgage lenders will require you to have home insurance, but after you pay off your loan you aren’t required by law in Denver, CO to have home insurance. Home insurance is a good investment to have to protect your home, but you don’t need to have it.

Contact AFI Insurance to get a quote on home insurance.

 

Can Boat Insurance Cover My Boat On Transit?

You are bringing your boat home after a summer vacation on the waters. You get it on your trailer and you are ready to start towing her home. While transporting the boat home, you keep checking the rear mirror just to ensure your vessel is okay. Unfortunately, you hear a weird noise, and on looking back, you realize that your boat looks crooked. So what are your options? Will your boat insurance policy protect it if you are in transit?

Land transportation is also included in boat insurance, meaning that your vessel will be protected when you are transporting it to any destination. However, it’s important to confirm with the insurer before purchasing the coverage. AFI Insurance is one of the insurance companies you can rely on when you need boat insurance in Denver, CO.

Usually, most boat insurance plans offer a road transit coverage if your craft is less than 30ft. But, your insurer may cover a larger boat as long as the transit is done by a professional transport company using a trailer that is built to transport boats. Note that you must notify your insurer in advance.

You require a boat insurance policy

A boat insurance plan will cover damage to your boat whether you are in or out of the water, and still give you liability protection if you are found responsible for injuries to water skiers, swimmers, or other boaters, or when you damage a dock, another boat or the environment as a result of fuel spillage. Additionally, boat insurance offers a no-fault medical bill payment coverage for injuries that your passengers suffer on your boat after an accident.

You can get a hassle-free boat insurance coverage today in Denver, CO when you contact AFI Insurance. We will make it fast and straightforward, so you can be safe whenever you are transporting or using your boat.