Why you Need to Get Auto Insurance in Colorado

For a lot of people in the Denver, CO area, owning a car is a necessity. If you do own a car in this area, it is important that you consider all of your insurance needs. There are several reasons why you will need to have a quality auto insurance policy when you have a car in the Denver area. 

Required by State Laws

One reason why you will need to get auto insurance in this area is because it is required by state law. Similar to other states, Colorado requires that all drivers on public roads carry liability auto insurance at all times. This form of auto insurance will ensure that you are able to pay for damages that you cause during an accident. If you do not have this insurance, you could face a variety of penalties if you are caught without it. 

Provides Protection for Car

While the liability auto insurance is all that is required by law, you also will want to get insurance to protect your car. If you have a car that you depend on and want to be able to replace or repair without coming too far out of pocket, getting auto insurance is a necessity. In these situations, you will want to get a full comprehensive and collision policy that will give you coverage for a wide range of risks and situations.

For those that are in the Denver, CO area and shopping for auto insurance, a great company to contact is AFI Insurance. When you speak with the team at AFI Insurance, you can be assured that you will receive great support and coverage. They will help to review your particular situation to ensure that you are getting into the right policy for your situation. 

How commercial insurance can save your business

According to Forbes, Denver, CO is the #4 best place in the country for businesses and careers.  That is great news but anyone who owns a business knows that it comes with a lot of uncertainty and worry. At AFI Insurance we would like to be able to help mitigate some of that uncertainty. We can help you navigate the complicated world of commercial insurance and help create a policy that offers you the protection you need and none that you don’t.  Commercial insurance has different components and you can pick and choose what components fit your business model. 

Business Liability

If people are visiting the location where you are doing business it is always possible that one of them could be injured. Someone could also be injured by some information you gave them or by one of your products. Business liability insurance gives you protection against legal actions that may be taken against you. 

Business Interruption Insurance

If something happens to disrupt your business, you will still have obligations. Just because your business has to close your bills don’t go away. You need to get a salary and pay your normal operating expenses. This type of insurance does have exclusions so be sure to know what they are, but it can be the difference between staying in business and closing your doors. 

Business Property Insurance

If you own the building where your business is located or even if you rent property insurance can save your business. Beyond the building, you have office equipment. supplies, inventory, and machinery. All of these could be damaged by a variety of hazards. 

At AFI Insurance we have been in the insurance business since 1996. We have the experience you are looking for in your insurance professional. We look forward to helping you create a commercial insurance policy that protects you and your business at a price that makes sense. Give us a call or stop by our office for a no-obligation quote. 

Get ready for spring with these home and yard clean-up ideas

Spring is nearly here and with it, Denver, CO can experience some erratic weather. Follow these quick tips and your home and yard will be ready for any inclement weather that comes our way! The team at AFI Insurance is here to answer all of your questions and help you keep your home protected through all kinds of weather.

Tips for a Tidy Springtime Home and Yard

Follow these simple tips to get your home ready for Spring. And if your house does withstand any damage, our team is here to help!

  • Clear all debris, branches, and dead plants and bushes from your yard. High winds can pick up any item and turn it into a destructive force. Be sure that your yard is clear of anything that can become a projectile and cause damage to your home.
  • Repair any loose shingles, siding, or gutters. Make any necessary repairs to your home in a timely manner, if they are left unfixed, the damage to your house can worsen.
  • Trim hedges and trees, removing any dead or damaged limbs. Loose tree branches can cause a lot of damage when they break free. Be sure that your landscaping is neat and trimmed.

These quick hints can help save you from unnecessary damage to your home this Spring season. A well-maintained yard and home can be the difference between damage to your home and an uneventful storm season.

Are you a homeowner in Denver, CO? Call or stop by the offices of AFI Insurance today and find out more about the home insurance policy options that are available in our area. Now is the perfect time to get your home ready for Spring; let’s make sure that your insurance coverage is ready too.

Is Collision Insurance Good Enough if I Put a Lien on My Car?

Agents who sell auto insurance offer both collision and comprehensive types of coverage. While collision is fine if you own your vehicle, it may not be sufficient if you put a lien on it. The agents of AFI Insurance offer Denver, CO residents advice on what type of insurance is best for them. If they choose to take out a loan and use your vehicle as collateral, you may need to upgrade your policy.

Protecting Their Investment

When you put a lien on your vehicle, the lien holder will want to protect their investment. This usually means that they will request an update to your policy that switches it from collision to comprehensive coverage. Comprehensive coverage will cover the cost of the vehicle if it is totaled during an accident.

Buy Yourself or Allow Them to Add it to the Loan

Depending on where you get your loan, the lender may put the cost of the comprehensive cover as part of your policy. This ensures the coverage will never lapse and that the premiums are paid on time every month. In some cases, the bank may be able to get the policy at a lower cost.

In Denver, CO, residents who put their car up for collateral on a small loan will need to talk to the agents at AFI Insurance to find out what they need to do with their insurance policy. Speaking to an agent will ensure that you have the type of coverage you need in place at all times. Visit the office and talk to an agent so your vehicle is fully covered. 

What role does insurance play in my retirement financial planning?

When you start making your plans to retire in Denver, CO, you probably think of the most obvious sources of retirement income, such as savings and retirement accounts. Most people don’t realize how important insurance is to any financial planning.

At AFI Insurance, we can help you understand the ways insurance will help you with your own financial plans. While insurance serves a short-term purpose when helping you recover after a fire or other disaster, insurance can also help protect you in the long run to achieve the goals you have set yourself for your retirement.

Life Insurance

This is the kind of insurance most associated with financial planning, in that a sound life insurance policy can help you or your family even if one of you dies. You don’t want to leave your family in need, so it is important to get a policy payable on death. If your family is still young, you might need a sizeable enough policy to pay off a mortgage, put children through college, and pay off any debts you accumulated in your lifetime.

You will also need to consider if you have a special needs child who will need longer care or parents who still have needs. You don’t want to wait until it’s too late to try to provide help for them.

Other Kinds of Insurance

Even though they are not directly involved in financial planning, other kinds of insurance help keep you on track to maintaining your goals. If you crash your car in Denver, CO, you don’t want to have to pay for the damages out of your own pocket. If your home is burglarized, you want to know you’re protected.

If you would like to talk about your future and how insurance can help with your retirement, please call AFI Insurance.

How do I know if I need specialty insurance?

If you are like most people you are probably asking yourself what is specialty insurance?  It sounds exotic or different and in a way it is. In the broadest terms, specialty insurance is coverage for things or events that would not be typically covered by insurance that you already have. At AFI Insurance in Denver, CO we would love to sit down with you to discuss what needs you may have for specialty insurance.

Specialty for insurance purposes is defined as meeting special needs. These special needs can be personal or business. The range of specialty insurance that is available is wide and the price will depend upon the amount of risk that is involved for the insurer. Many companies offer specialty policies but not all of them are created equal and that is where a knowledgeable insurance agent can make all the difference.

Flood -Flood damage to your home and possessions is not covered under your home insurance. You need to have a special policy to cover this particular eventuality.

Cancellation– whether it is the trip you have been dreaming of for years or the most important day of your life when you want to feel protected, specialty insurance can make sure that while you may still be disappointed you won’t be out a ton of money as well.

Power vehicles– if you enjoy the thrill of riding an ATV, powerboat, motorcycle or snowmobile, you need insurance beyond what your auto vehicle offers. This also goes for a jetski, classic car or motorhome.

Now that you have at least a small idea about what specialty insurance is and why you might need it, why not take the time to give us a call at AFI Insurance in Denver, CO or stop by and let us help you to make sure that you have the coverage you need.

Life Insurance and the Stock Market

Certain life insurance policies are designed to pay death benefits to the beneficiaries and to be an investment vehicle for the policyholder. Work with your agent at AFI Insurance, serving Denver, CO and the surrounding area, to get more of the details because there are many options in these products that can be customized for your life goals and financial planning. 

To get an overview, let’s consider a basic explanation of two types of life insurance, which are Universal Life (UL) and Indexed Universal Life (IUL) to understand how these life insurance policies work.

Universal Life

Universal life insurance is available in many types that include fixed-rate models and variable-rate versions. For a UL policy, you make selections of equity accounts for the associated investments. Cash values are allocated to build up a fixed account.

Indexed Universal Life

If a UL policy is tied to the performance of a stock market index, then it is an IUL policy. The stock market index used may be the S&P 500, the NASDAQ 100, or others. No money is directly invested in any equity positions, only the overall index performance is used to calculate the financial performance of the IUL policy. This makes an IUL policy have more risk than a UL policy.

A Comparison of UL and IUL Policies

Both UL and IUL policies have a death benefit. Both have investment characteristics. An IUL policy can offer a cash accumulation that is tax-deferred for use in retirement. These IUL policies are used to insure a business owner as key-person insurance. They are also used for estate planning and have some upside potential if the equity index performs well over time.

Summary

UL and IUL products are very complex financial instruments and have specific uses that are not always good for everyone but can be effective for others. Work carefully with your tax advisor, investment advisor, and your agent at AFI Insurance in Denver, CO to get the information you need for considering these products as part of your long-term financial planning.

Benefits of Getting Commercial Insurance in Denver

The Denver, CO area is a fast-growing city and metro area that offers a lot of opportunity to anyone that would like to invest in their own business. Those that are looking to start their own company still need to consider all of the risks that could impact their operations. One way that you can mitigate many of these risks is by getting a new commercial insurance policy, which can benefit a business owner in many ways.

Gives Protection for Liability

One risk that all business owners need to continue to be aware of is the risk of being sued for liability. No matter how careful you are and how diligent you are with your practices, there is still a risk that you could be found at fault for a customer’s injury or illness. If this occurs and there are damages, it could jeopardize the financial strength of your company. Fortunately, a good commercial insurance policy can mitigate these risks through liability insurance.

Protects Your Company Assets

No matter what type of company you start, there will become a sort of upfront investment to buy equipment and inventory. If you happen to be a victim of a fire, water damage, or even theft or vandalism, this entire investment could be wiped out. Because of this risk, you should make sure that you always have a good commercial insurance policy in place as the property protection could keep you solvent if an accident occurs.

Ultimately, having commercial insurance can protect your company in a lot of ways. Those that are in the Denver, CO area should contact the team at AFI Insurance to discuss their insurance needs and options. AFI Insurance could provide you with a lot of insight into your insurance needs and options for your company. 

Smart Tips for Preparing Your Home for the Holidays

By planning in advance, you can take the stress out of holiday prep and spend more time relaxing with your family. The following tips from AFI Insurance in Denver, CO can be helpful in preparing your home for holiday guests and events.

Clean and Declutter Living Spaces  

Clean and declutter living spaces to create a relaxing, comfy home environment. Clear out your entryway, living room and kitchen as these are the areas guests are more likely to gather. Wash curtains and windows and professionally clean your floors. Decorate key areas to add a holiday touch throughout your home.    

Stock Up Bathroom

Deep clean and stock bathroom(s) before holiday guests arrive. Make sure you have extra toilet paper and paper towels within easy reach. Stock up on such toiletries as hand soap, body soap, shampoo and conditioner for those who forget to bring these personal items along.

Clean and Stock Kitchen

Start with a clean kitchen for inspiration to prepare holiday meals. Clean your oven and stove and clear out your refrigerator to make space for what you need to prepare holiday feasts. Plan your menus in advance to include drinks and desserts. Shop early to ensure you have all you need to prepare delicious meals for your family.

Prepare Guest Room for House Guests

Tidy the guest room to stay over relatives and friends. Wash guest linens, blankets/comforters, and towels in advance and set them aside for when guests arrive. By adding fluffy pillows, scented candles and a basket of holiday treats to your guest room, you’re sure to make them feel welcomed and loved.  

Update home Insurance

Update home insurance to protect you (and your guests) against the risk of accidents during the holidays. To learn more about home insurance options and costs, contact AFI Insurance in Denver, CO.

Why do I need to carry collision and comprehensive insurance

Denver, CO is a challenging city to drive in, there is no other way to describe it. With about 20 cities that make up the Denver metro area, you will have a lot of company anytime you are on the road which is a shame since the views of the mountains are quite spectacular. When it comes to why I need to carry collision and comprehensive insurance AFI Insurance is here to help you by answering any question you may have about your current coverage or coverage you are considering.

The most obvious answer to the question of do I need to carry collision and comprehensive insurance is yes if you have a loan on your vehicle or are leasing a vehicle. The DMV in Colorado only requires that you carry liability insurance to protect other drivers from you but they do not require that you protect your own vehicle. 

Collision insurance covers the repair and replacement of your vehicle damaged in an accident with another vehicle where you are at fault. If you are driving an old car with little value, then you probably don’t need to carry collision coverage. If however, repairing or replacing your vehicle would be a financial hardship for you, having collision coverage may be worthwhile. 

Comprehensive coverage is for damage that is caused by something other than a collision with another vehicle. Glass coverage is usually part of your comprehensive insurance and one of the main coverages is theft. If your vehicle has value and is stolen, there is no guarantee that it will ever be recovered. If it would be hard to replace your vehicle, you may want to consider getting this coverage. 

Whether you are a new driver or an experienced pro, we have the information that you need. Give AFI Insurance a call or stop by our Denver, CO office and let us give you a no-obligation quote.