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.

Auto insurance for your car

As a car owner, auto insurance will already be at the top of your priority list. But did you know that you should be regularly checking that your auto insurance is up to date and that you are still covered for everything you want to be covered for? It is always a good idea to speak with an advisor in case you are missing certain add-ons. 

If you want to discuss renewal or a new auto insurance policy with us, contact AFI Insurance in Denver, CO, and we’d be happy to help. We listed some things to consider below. 


If you already have car insurance, you should know what the requirements are for this. In the state of Colorado, you are required to at least have a policy for liability insurance and bodily injury insurance. These policies cover you in the case of an accident, and they cover you and other drivers or passengers. 

Other options

Beyond the requirements, you can choose what you cover and how much. But here are some options for you to consider:

  • Road assistance so that you can always get picked up if you get stuck. This counts for your car as well.
  • Getting towed can be incredibly expensive and add many costs, so to include this in your policies means you are at least financially covered.
  • Accident coverage. As accidents are unfortunately common, it is best to ensure your accident coverage is as good as possible. Make sure to discuss this with your agent.

If you are ready to get an auto insurance policy on a new car or renew your current auto insurance, call AFI Insurance in Denver, CO at your leisure.

Liability Coverage Protects Your Financial Future

One type of insurance could protect you from facing lawsuits in the future. Liability coverage helps you avoid losing your assets due to an injury, major incident, or accident. Of course, liability coverage comes in many different forms. No two insurance policies are exactly the same.

AFI Insurance serves Denver, CO, offering liability coverage in many forms. Here’s how getting insurance is ideal for financial planning purposes.

Liability Coverage Can Protect Your Assets

When you have a lot of assets, you do not want to risk losing them because somebody else was injured or experienced damages. For example, liability insurance could help you avoid being sued if your business helps somebody make financial decisions that ultimately cause them to lose money.

Liability Coverage Is Available for Many Types of Incidents

Often, accidents hurt when they are not at all expected. Liability insurance provides you with the opportunity to cover injuries from a variety of incidents–even those that are not physical. For example, you may have added protection if you give somebody advice that does not pan out for them.

Your Liability Coverage Options Are Flexible

You have so many different liability coverage options. Each option can provide great protection, even if you are dealing with serious allegations or accusations. Of course, liability coverage can also cover physical injuries, protecting assets like cars and houses.

Check Out Your Liability Coverage Options

AFI Insurance helps those living in Denver, CO so they can make the best decisions regarding their financial future. If you want some help with financial planning, a professional can help. Contact an insurance agent to learn more about your options.

What Extra Coverage Options to Consider for RV Specialty Insurance?

Regardless of whether you have purchased an RV for occasional road trips or a full-time residence, insurance is something you need. Because an RV is more than your standard automobile, specialty insurance is often needed. Here at AFI Insurance, we want Denver, CO residents to be familiar with the coverage options available beyond the typical comprehensive, collision, and liability coverage. Specialty insurance offers options that a standard auto insurance policy simply cannot.

Full Replacement Cost Coverage

In the event that your RV is totaled in an accident or stolen, comprehensive coverage through your auto insurance policy will generally pay to replace the RV at a depreciated value. This means that you can only expect to receive the amount that your RV was worth at that exact time. However, if you have RV insurance, you can opt for full replacement cost, which will provide you with compensation for the entire cost of the RV.

Personal Property and Accessories Coverage

RVs are often loaded with a ton of accessories that a typical auto insurance policy will not cover, including camping supplies, cooking appliances, awnings, furniture, satellite dishes, and the like. In the event your property is damaged or stolen, specialty RV insurance will be needed in order to repair or replace it.

Vacation Liability Coverage

When you have your RV parked at a campsite or in an RV park, it is considered a temporary residence. It is a good idea that you have some kind of liability insurance to ensure that any damages are covered in the event of an injury or accident, such as if the kids are outside throwing a baseball back and forth and it goes through a neighbor’s RV’s window.

Full-time RV Coverage

If you plan on utilizing your RV as a permanent and/or primary residence, this is a form of coverage that you will need. It will offer a higher limit of personal liability coverage that is similar to that of a homeowner’s policy. It will also offer medical payments if someone is injured, along with personal property coverage.

Whether you have an RV for temporary or primary use, specialty insurance is necessary. Reach out to us at AFI Insurance to find out more about insuring your Denver, CO recreational vehicle.

Mistakes to Avoid When Getting Life Insurance

Most people understand how important life insurance is, especially for their beneficiaries. However, when shopping for insurance, there are certain mistakes you can make that may end up jeopardizing the financial security of your loved ones. As AFI Insurance of Denver, CO explains, here are some of those mistakes you should avoid.

Taking Too Long to Buy Insurance

When you are buying life insurance, you will have to factor in the coverage you need and the cost. The cost of premiums is calculated based on factors like your overall health and age. Therefore, buying a life insurance policy earlier works in your favor if you want to pay little for your policy. The longer you postpone buying, the more it will cost you eventually.

Buying The Wrong Coverage

You can either buy term or permanent life insurance. However, before you buy, take a look at your situation and the goal you want to achieve. Term life insurance has a timeframe after which the policy expires. It is also cheaper. On the other hand, permanent life insurance lasts you a lifetime, but premiums are a bit expensive. Analyze both and see which will benefit you and your family the most.

Failing to Disclose All The Information

When buying life insurance, you have to give a stranger all your personal information, including your driving record, drug prescription history, and health condition. Hiding any of this information can make the insurance company refuse to give your family a death benefit, claiming you were in breach of the contract.

Naming The Wrong Beneficiary

When naming the beneficiary, it is natural for you to name your children. However, note that minors cannot receive the death benefit directly. Therefore, name the guardian of your choice and save your kids from unnecessary court proceedings.

Here at AFI insurance serving the people of Denver, CO, we can walk you through the process of buying life insurance to prevent you from making these mistakes. Contact us today for assistance as we will help safeguard your and your family’s financial future.

Do You Have Enough Commercial Insurance?

Commercial insurance comes in handy in protecting your business against liabilities, accidents, natural disasters, and other risks. While business insurance is crucial for your business, do you ever ask whether the coverage you have is adequate? 

Unfortunately, many business owners in Denver, CO, and other parts of the country only have the state-required commercial insurance coverages. Whereas this might seem like a well-thought-out savings strategy, it could become catastrophic when certain risks strike. 

Not sure if you have adequate business insurance? AFI Insurance is here to guide you.

General liability insurance

While this coverage isn’t mandatory in Colorado, it’s crucial in protecting your business against liabilities from third parties. But how much of this insurance do you need? The first step is to understand your business. How risky are your products? How safe is your working environment? These questions will guide on the amount of liability coverage needed.

If you find your business at high risk of liability claims, it will help to consider umbrella insurance. This coverage provides extra liability protection when your typical commercial insurance coverage runs out.

Commercial property insurance

How are your business’ assets financed? If they are financed by a lender, find out the minimum insurance requirements as per the loan agreement. 

Additionally, know the value of assets. And here, you could consider the actual cost of the asset or the value it would cost to replace your assets today. If the asset is pivotal for your business, you are better off with the replacement cost. However, premiums based on this value are usually higher than the historical cost.

Commercial auto insurance

Since this coverage is mandatory in Colorado, the first step is to satisfy the state requirements. Colorado requires all commercial vehicles to have commercial auto liability coverage of $25,000 bodily injury per one individual and twice the amount per accident. Besides, you are required to carry property damage liability with a minimum of $15,000.

While these are the required coverages, you must consider higher limits for well-rounded protection.

Get commercial insurance coverage today

Still not sure about how much business insurance you need? Please talk to AFI Insurance of Denver, CO. Better yet, we will help you get affordable coverage.

How to create and store a home inventory

Owning a home is a dream and it can also be a nightmare if you don’t have the right home insurance. You need an independent insurance agent who will take the time to get to know you and your insurance needs. They should also discuss what types of home insurance will protect you best and also what amount. It’s too late to find out when you need to make a claim that you have no inventory or have stored yours in an unsafe place. At AFI Insurance in Denver, CO, we have 25 years of experience helping homeowners get the right coverage. 

When you file a claim with your home insurance company, if you are claiming lost content, you will have to have proof of the content you had before the damage happened. One way to do this is with an inventory. When you do an inventory of your home, you account for all of your personal property. 

One way to do this is to go to each room and write down all the items in the room. That includes furniture, decor, and all the things that are tucked into drawers and closets. You also need to take some pictures of the room to keep with the inventory. If you have sales slips or receipts, these are also important proof of what you had. Write as much detail as you can and include brand names, model numbers, and serial numbers if it makes sense. Do this for every room in your home, including the basement, attic, and garage.

Once your inventory is complete, you need to store it in a safe place. It is better not to store it in the home but make sure it is in a waterproof fire-resistant box or bag. 

Contact AFI Insurance in Denver, CO, when you are ready to review your home insurance and want an experienced independent insurance agent. 

Auto Insurance Add-ons to consider

Auto insurance is vital, but regrettably, you will find motorists in Denver, CO operating their vehicles without car insurance. Most car owners in Denver, CO view car insurance as a recurring annual expense. Nevertheless, when unexpected strikes like an accident, it is time they realize how auto insurance is a fundamental tool and add-ons are. At AFI Insurance, we offer outstanding auto insurance blended with add-ons to ensure that Denver, CO drivers are perfectly safeguarded against imminent perils like theft and fire. Below are add-ons you can consider to enhance your auto insurance policy.

Road assistance coverage

Have you ever been stranded on the road with a punctured tire or failed engine in Denver, CO? It can be stressful. Having road assistance coverage eliminates all worries of feeling helpless. This form of coverage offers services such as battery jumpstart, gas delivery, puncture repairs, and minor roadside repairs whenever your car is unfunctional away from home.

Zero depreciation cover

This kind of add-on ensures car owners in Denver, CO gets the entire claim of the repair or replacement cost without factoring in depreciation. Devoid this crucial protection, you might have to cover the difference between the actual cost of repair and the insured value.

Consumable cover

Most consumables such as oil, nuts, and bolts are not catered to by insurance during claim times. Acquiring this form of add-on can save on all those consumables that will get covered no matter how small they seem to be. It extends cover to expenses emanating from consumables that are unfit for future utilization, resulting from damage after an accident.

Engine protection cover

Your car engine is one of the most vital components. This importance warrants a solidified car insurance for your engine. This coverage is very instrumental if you reside in areas that experience heavy downpours. Engine damage is likely to crop up when you start your car with a wet engine. Standard auto insurance coverage doesn’t protect against engine damage; therefore, engine protection cover salvages you from damage costs for your engine.

Do you need auto insurance in Denver, CO? Don’t look beyond AFI Insurance. Please call or visit our offices in Denver, CO. Our agents will help you customize auto insurance enhanced with add-ons that match your needs and budget.