Does Life Insurance Cover Alternative Burial Costs?

Life insurance is something that we can all benefit from. Being able to know that after we pass our loved ones are not going to struggle to pay final expenses can be very comforting. For those in the Denver, CO area, the agents with AFI Insurance can help you create your ideal policy.

Life insurance is not designated for one expense or other in most cases. When you take out a life insurance policy you are not naming what the money is to be spent on, but rather who the money is going to be paid out to and then they decide what to do with it. You can ask your family members to keep your final wishes in mind and can ask that they use the money to pay for a specific type of burial but there is no way that you personally can use your life insurance to pay for end of life expenses. A better way to go about it is to create a will that outlines what you want to be done with your body when you pass. You can then designate one person, or one beneficiary, to collect the life insurance and carry out those wishes.

You can also leave life insurance money to children, dependents, friends and more. The only stipulation is that if you are taking out a life insurance policy on another person, you have to have some sort of vested interest in them. This is to prevent people from taking policies out on strangers. The money from a life insurance policy can be used for any expense and is a great way to make sure that your family is well taken care of even after you pass. For those in the Denver, CO area, the agents with AFI Insurance can help you to get your perfect policy.

Considering Getting A Pool? What Denver Residents Need To Know

The sun, the heat- there’s no question that summer is well on it’s way. You might be thinking about installing an in-ground pool in the backyard of your Denver, CO home. At AFI Insurance, we want Denver residents to consider a few things before installing a pool. 

– If you decide to install a pool, be sure to take safety precautions. A fence around the pool with a latched gate is important for keeping kids safe. Even if you don’t have kids (or they’re grown and out of the house), little ones have a way of making their way to open pools to swim. Talk with your fencing company about your options- some people choose to have their entire property enclosed with a fence, while others choose to only have the fence go around the pool. 

– Consider your municipal code. Some municipalities have specific safety requirements that you’ll need to consider before having a pool installed. The last thing you want is to get hit with hefty fines and have to make modifications because your pool isn’t up to code.

– Talk with your insurance agent about the changes that installing a pool will mean for your homeowner’s insurance policy. Adding a pool to your policy can be a little bit tricky, as a pool can greatly increase the overall value of your property. 

At AFI Insurance, serving Denver, CO, we’re here to help you get the home insurance coverage that you need. Call us or stop into our office to talk with an agent about creating a policy that makes sense for you and your home.

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Most and least expensive cars for insurance

The type of car you have will affect your insurance rates. Generally speaking, cheaper cars cost less to insure, and more expensive cars cost more. Expensive cars cost more to repair, and high-performance cars are more likely to be involved in an accident, which is part of the overall formula for determining insurance rates.  AFI Insurance, serving Denver, CO is here to help you find the right insurance for your situation, and can even help you find a car that will cost less to insure.

The Honda Odyssey is the cheapest vehicle for insurance and is a relatively low-cost family type vehicle. The Odyssey is a minivan, and they have the lowest insurance rates. The most expensive car for insurance is the Nissan GT-R, a hot sports car that sells for just over $100,000.  The difference between these two vehicles insurance costs is about $2,000 per year.

On the high end of the spectrum, the Mercedes Maybach is the second most expensive. Mercedes-Benz takes five of the top 10 spots, and BMW takes three.  The Porsche Panamera is the only other vehicle in the top 10. Luxury and performance are part of the reason.

At the lower end are family type cars like SUV’s or minivans. The Kia Forte, Nissan Versa, and Audi A4 are among the cheapest. Mercedes-Benz also has one at the lower end of insurance costs, which is the C-Class four-door. At the lower end prices are lower and repairs cost less.

 Call of visit AFI Insurance, which serves the Denver, CO area today to learn more about your insurance options, and to find the best policy for you.  Regardless of the type of car you end up with,  we will help you find the best insurance and make sure you have the coverage you need.

The Benefits of Emergency Roadside Specialty Insurance

You’re always told to expect the unexpected but no one is ever ready to be stranded on the side of the road with a broken down vehicle. Instead of getting caught in this type of situation with no resources, talk to the agents at AFI Insurance. They serve the entire Denver, CO area and can provide you with all of the insurance coverage you need for your vehicles, home, and business. They even offer Emergency Roadside Specialty Insurance for when the unexpected occurs and you are stuck along the side of the road.

Covers Towing Costs

Aside from your repairing your car, the tow bill that you receive after having your car towed off the road and to the shop can be extremely costly. When your car breaks down along the highway, it usually happens when you are miles from anywhere. This can lead to a tow bill that ends up being in the hundreds of dollars. Emergency roadside insurance takes care of the tow bill and makes sure that your vehicle gets where it needs to be.

Transportation Home

Once your car has been towed to the repair shop, you need to find your way to a hotel or to your home. Having roadside insurance covers the cost of getting you to the nearest hotel or safely home. It ensures you will always have a way to safety.

At AFI Insurance, the agents know the frustration of being stranded along the roadside and are always available to help Denver, CO residents get the specialty insurance they need. Don’t take a chance of being stranded! Call and talk to one of their reputable agents today!

 

The Role Insurance Plays in Your Financial Plan

As we all know, there are many different types of insurances for just about every aspect of our lives. The reason being is that if you become ill, lose your job, have accidents with your property or vehicle, insurance kicks in to save money in what could otherwise be a financially draining situation. This is why when making a financial plan, the role of having insurance should be at the top of the list. The main types of insurance are homeowners, auto, life and health/disability insurance. Things to factor into your financial plan when it comes to insurance are how many people need coverage, ages of those covered, what level of coverage is needed and your financial situation you are currently in. Here are some highlights of the different types of insurance.  Also, you can talk to professionals at AFI Insurance, serving the Denver, CO.

Homeowners Insurance

The purpose of having homeowners insurance is it helps protect what is likely your biggest asset, your home. When a disaster like a fire or a flood hits your home the cost of repairs can be astronomical without insurance. Having a minimum of 75 to 80 percent coverage of the value of your home should be the standard to aim for when purchasing this type of insurance.

Auto Insurance

Being a good driver simply is not enough assurance that an accident will not occur and insurance is a legal requirement in most states. The different types of auto insurance range from simple minimal liability to full coverage. When considering what type you need things such as economic situation and driving habits are factors.

Disability Insurance

Even though disability insurance is not the first type of insurance people may think about when making financial plans, it is no less important than the more common types like homeowners and auto. Unpredictable accidents that may put you out of work can be stressful and very impactful to people’s lives. Having sufficient insurance that covers a large amount of your income can be a wise move in the unfortunate event of an accident.

Having an emergency fund is a component of any good financial plan and insurance is as important, if not more important. If you live in the Denver area, AFI Insurance of Denver, CO can help you with your various insurance needs. Give us a call or stop in to make an appointment with an associate to discuss the different types of insurance plans available.

 

Is it possible to forfeit your commercial insurance plan?

You have taken the responsible step of buying an insurance policy for your business in Denver, CO. Do you know everything that is needed to keep your plan in good standing? An agent at AFI Insurance can help you understand your rights and responsibilities as a commercial insurance policyholder. Read on to learn more about commercial insurance.

What is business insurance, really?

Commercial insurance is essentially a contract between the consumer and the provider. You agree to pay a monthly premium and, in exchange for your business, the provider agrees to pay for damages related to your company.

An indemnity firm does not guarantee coverage of everything that happens to your business, which means that you may find yourself out of luck if your brick and mortar floods while you lack flood assurance. You may also find yourself at risk of losing coverage if you intentionally damage your business property for the sake of filing an indemnity claim. Arson by way of the company’s owner is the most common example of an individual harming the business in hopes of getting a big payout.

Others ways to forfeit coverage

Intentional damage and having limited coverage are not the only two ways to not get the most out of your commercial insurance plan. You lose all manner of protection when you fail to pay the premium in a timely manner.

The possibility of losing coverage and having to pay for everything out of your personal funds is why you should only purchase the commercial insurance policy that you know you can afford. An AFI Insurance agent can help you understand the details of commercial insurance so that you find the policy that works best for your business in Denver, CO. Call them today to get started with a quote!

The Basics of Life Insurance

Buying life insurance in Denver, CO can be very confusing if you do not know where to begin. In fact, this is the case with most people because life insurance can be complex as it is. If you have never purchased it before, or even if you have, you may not know what you need. Understanding the basics, with help from AFI Insurance, will help you tremendously. 

  • There are different types. There are term policies that are only active for a set number of years and there are whole life policies that will last an entire life. Of course, a term policy is much cheaper to purchase than a whole life policy but they both have their pros and cons to consider before purchasing. A term policy is cheaper but you can purchase more as you need it. A whole life policy is a lot more expensive and you would likely need to buy another policy if you needed more coverage. 
  • You can get a policy through your work but it may not be the best option. A lot of employers have started offering life insurance policy options through the workplace. While you should absolutely sign up for it if it does not cost you anything extra, if you have to pay for it, you should take a good look at the policy to see if it is what you need. you should also look to see if it is a portable policy, which means you can take it with you if you leave the company. 

Now that you have a basic understanding of life insurance, you may want to evaluate if it is the right option for you and your family. If you are considering life insurance, be sure to reach out to us here at AFI Insurance, serving Denver, CO, to learn more about your options and to get a free quote. 

Important Repairs to Make Before Selling Your Home

If you own a home in the Denver, CO area and are thinking about selling, there are some important repairs you may want to consider before you place it on the market.  To increase your home’s value, you also don’t want to spend a ton of money on repairs you won’t be there to enjoy.  The key is to focus on critical areas for improvements.

  • The flooring is the number one area to inspect.  Scratched up wood flooring, tattered or out of date carpeting, and worn linoleum can make your home seem sad and rundown.  The best way is to replace it to freshen up your home and add value.
  • Fix water leaks and any water stains left behind on walls or ceilings.  Water stains can look frightful to potential buyers.
  • Repair or replace the torn window and door screens to add value and improve appearance.
  • Update tile grout if it’s yellowed or cracking.  Re-grouting is less expensive than a new tile job and can improve a counter or bathroom appearance immensely. 
  • Give the property some attention to remove or revive the lawn, trees, or shrubbery.  Clean up any miscellaneous debris or trash.
  • Remove any pet damage.  If there is pet damage to the doors or walls, buyers will also look for pet stains on the flooring.  It’s best to have the damage repaired.
  • Revive an outdated kitchen because the kitchen is most often one of the most crucial selling points for a home.  A full kitchen renovation is not necessary, but you’ll want to focus on the most outdated areas.

AFI Insurance

The insurance agents at AFI Insurance work to provide the best options for coverage in the Denver, CO area.  Contact an AFI agent today for your home insurance needs.

What Happens When An Uninsured Motorist Hits Your Car?

Unfortunately, not every driver on the road in Denver, CO has insurance. If such a person hits your car, you do have options, especially if you already have an auto insurance policy from AFI Insurance. Here’s what you need to know.

How an Accident with an Uninsured Motorist Can Devastate You

When a collision occurs, the insurance of the at-fault driver should pay for the damages you sustain. Those damages can include repairs to your vehicle, medical bills, and even lost wages. When an uninsured motorist is an at-fault driver, there’s no insurance company, leaving you dealing with the expenses.

An accident with someone with no insurance can negatively affect your life in profound and critical ways. You can attempt to sue the motorist directly, but odds are that individual will not have the assets to cover any of your damages.

Why You Need Uninsured Motorist Coverage

Uninsured motorist coverage exists specifically for dealing with accidents with uninsured motorists. Often, this insurance option comes with underinsured motorist coverage as well. Some people may have insurance, but not enough insurance. In either case, these policies will kick in to help cover you.

Uninsured motorist coverage isn’t mandatory in Colorado, so you have to add it to your policy. When you make a claim, you will make it against your policy’s coverage limit, which your insurance company will pay.

What to Do If You’re In an Accident with an Uninsured Motorist

If you’re in an accident, make sure you’re okay. If not, seek police and medical attention immediately. If you can, check on the other driver. If the driver is amendable, you can gather information. Try to get the person’s name, contact information, and possibly a signed statement. You can give all this information to your insurance company with your claim.

Uninsured motorist accidents happen frequently in Denver, CO. Don’t wait too long before you add uninsured motorist coverage to your policy. Contact AFI Insurance today to learn more about uninsured and underinsured coverage for you and your vehicle.

3 Benefits of Having a Retirement Plan

Residents living in the Denver, CO area can go to the agents of AFI Insurance for all of their financial planning and insurance needs. Having a retirement plan in place provides you with a variety of benefits. When you are young, it’s sometimes hard to wrap your head around what you may need after you retire. Professionals who specialize in financial planning can help.

Financial Security

A retirement plan will afford you financial security. No one wants to worry about how will they afford to maintain their lifestyle. Financial security comes from careful planning. An effective retirement plan provides you with the means to live a comfortable life, long after you retire. This allows you to do many of the things you wanted to do but could never afford to.

Tax-Free Retirement Income

Investing in an eligible retirement plan that includes an IRA or 401K allows you to save the money in secure amounts. While any monies withdrawn prior to retirement are taxable, monies that are taken out after retirement age are tax exempt. By leaving the money in your retirement accounts, they will continue to accrue interest giving you a substantial amount of money to live off after you retire.

Peace of Mind

The right retirement plan will provide you with peace of mind and a sense of security. Even if you start building your accounts in your 40’s, you can still save quite a bit of money.

At AFI Insurance, the agents specialize in many aspects of financial planning. If you live in the Denver, CO area, schedule an appointment so you can learn which retirement plan is best for you.