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Colorado Insurance Blog

Three Ways to Prepare Your Home For Winter Weather

As winter weather approaches quickly, there are a few things you’ll need to take care of sooner rather than later. Preparing your home for winter will reduce maintenance and protect it from dropping temperatures, snow, and ice.

1. Cover Your Pipes

Covering your pipes keeps them warm and protected against cold weather in the winter. Too many homeowners forget this step or do it later in the winter after the pipes have started freezing. Frozen pipes will not only prevent you from getting water through but can also crack, causing leaks and the need for replacement pipes. Save yourself a lot of stress and money by doing this task first.

2. Clean Your Roof and Gutters

Before the winter months get here, it’s a good idea to clean out your gutters, ensuring no debris is causing a backup and that water can get through the system properly. Once you have that system clean, clean off any debris lingering on your roof so that it doesn’t freeze under the snow and cause your roof to get heavy. If too much weight gets on the roof, it will cause it to collapse, and you need extensive repairs. Nailing down any loose shingles on your roof is also good to keep them intact.

3. Insulate the Attic

If you haven’t already, checking the attic insulation and updating it before it gets cold is a good idea. You want to keep the heat inside your home so you don’t overwork your HVAC system. Too much pressure when the weather gets cold could cause it to malfunction. It will also easily raise your utility expenses. With new insulation, you can keep the warm air inside the home and moisture from the winter weather out.

If you’re looking for home insurance in Denver, CO, and surrounding communities, our team at AFI Insurance is ready to provide you with a personal quote today.

Determine If Your Business Would Benefit From Specialty Insurance

If your business faces unique circumstances that could result in a lawsuit, theft, or damage, you may benefit from adding specialty insurance to your existing insurance policy. Specialty insurance provides protection that a standard business insurance policy would not provide.

Specialty Insurance

Different types of specialty insurance provide high-risk businesses with adequate protection. Specialty coverage can alleviate out-of-pocket costs that a business owner may face. 

Variables That May Require More Coverage

  • Expensive or unique inventory
  • High-priced equipment onsite
  • Potential for injuries
  • Crime-prone location
  • Potential for damage occurring onsite
  • Use of chemicals and other dangerous items

Insurance Assessment

The list above outlines some variables that may convince you to carry specialty coverage. This list doesn’t cover everything that would require specialty coverage, but it provides a rough idea of what types of things require more coverage.

Conducting an insurance assessment will allow you to determine your business’s risks. This assessment will uncover any dangerous conditions or additional risk factors that would make it beneficial to carry more insurance coverage.

The assessment you conduct should consider any past incidents you faced as a business owner. Suppose you have faced many lawsuits in the past, for instance. In that case, you may decide that your business needs specialty insurance coverage to increase the liability protection your place of business is equipped with.

Refer to the insurance assessment results when you compare different types of specialty insurance coverage.

Specialty Insurance Guidance

If you are not convinced that your business would benefit from specialty insurance coverage, contact one of our agents who serve Denver, CO. An AFI Insurance agent will discuss your business plan. They will recommend insurance products that are a good fit.

Questions to Ask When Hiring a Professional For Financial Planning Services

When you’re ready to take control of your financial future, hiring a professional can be a game-changer. At AFI Insurance in Denver, CO, we understand the importance of finding the right fit for your unique needs. Here are some essential questions to ask potential financial planners.

What Are Your Qualifications?

Start by understanding the professional’s background. Ask about their certifications and educational history. Credentials like CFP (Certified Financial Planner) or CFA (Chartered Financial Analyst) can provide reassurance of their expertise.

How Do You Charge for Your Services?

It’s crucial to know how your financial planner is compensated. Some work on a fee-only basis, while others might earn commissions. Understanding their payment structure helps you assess potential biases and ensures transparency in your relationship.

What Is Your Experience with Clients Like Me?

Financial planning is not one-size-fits-all. Inquire about their experience with clients who have similar financial situations or goals. This can give you confidence that they understand your specific needs and can offer tailored advice.

Can You Provide References?

Hearing from past or current clients can provide insight into what working with this planner might be like. Don’t hesitate to ask for references and follow up on them to ensure the planner’s claims align with reality.

What Is Your Investment Philosophy?

Understanding their approach to investing is key. Make sure it aligns with your risk tolerance and long-term financial goals. A planner’s philosophy should resonate with your values and provide a strategy that feels right for you.

Choosing a financial planner is a significant decision. At AFI Insurance in Denver, CO, we are here to support you on your journey to financial success. Contact us today to learn more about how we can help you achieve your goals.

How Can Our Insurance Agents Help Ensure Small Businesses Get the Right Commercial Insurance Products

Navigating the world of commercial insurance can be overwhelming for small business owners. At AFI Insurance in Denver, CO, we believe that understanding your unique needs is the cornerstone of finding the proper coverage. Our agents begin with a personalized consultation to get to know your business inside and out. We explore every aspect, from the nature of your operations to the specific risks you face.

Comprehensive Risk Assessment

Once we understand your business, our agents carry out a comprehensive risk assessment. This involves identifying potential vulnerabilities and evaluating the types of coverage that would best mitigate these risks. Whether it’s liability, property damage, or workers’ compensation, we tailor our recommendations to adequately protect you.

Tailored Insurance Solutions

With the information gathered, our agents then craft tailored insurance solutions that align with your business goals and budget. We recognize that every small business differs, and a one-size-fits-all approach doesn’t work. Our goal is to provide you with customized policies that offer maximum protection without unnecessary coverage.

Ongoing Support and Adjustments

Your business is constantly developing, and so are its insurance needs. Our agents at AFI Insurance are dedicated to providing ongoing support, ensuring your coverage adapts as your business grows. We regularly review your policies and make adjustments as needed so you can focus on what you do best—running your business.

Partner with AFI Insurance Today

At AFI Insurance in Denver, CO, we’re committed to helping small businesses thrive by providing the right commercial insurance products. Contact us today to schedule a consultation and let our experienced agents guide you toward comprehensive, customized coverage that offers peace of mind and security for your business’s future.

Taking Out Life Insurance for Your Parents

If you have aging parents, you might be concerned about whether they have adequate funds to cover their final expenses in case one of them passes away. If they don’t have any life insurance policies or savings in place, you might end up shouldering the costs. Fortunately, you can help your parents get life insurance. The agents at AFI Insurance in Denver, CO, offer a few things to consider before doing so.

Discuss Life Insurance with Your Parents

Before investigating a life insurance policy for your parents, it’s imperative to have an open discussion with them about it. After all, the parents themselves need to file the application, except when they are suffering from diseases like dementia or Alzheimer’s.

How Much Do Your Parents Need for Final Expenses?

You can offer aid to your parents in choosing a life insurance policy that meets their needs. But, before seeking out coverage, take into account that they need to invest in essential elements that include:

  • Funeral costs
  • Outstanding debts
  • Medical costs

Choosing the Appropriate Insurance

When searching for life insurance for your parents, it’s vital to be aware of the types of policies and their differences. There are two types of policies:

  • Term Life Insurance – This coverage provides protection for a specified term, which is usually between 10 and 30 years. If one passes away before the term ends, the policy’s set value is paid out as a lump sum.
  • Permanent Life Insurance – These whole life policies last for the insured’s lifetime, provided premiums are paid. There are two components: a savings component and a death benefit payout. Some policies permit policyholders to borrow against these savings.

Seeking Insurance Coverage for Your Parents?

At AFI, Armed Forces Insurance, we offer our services, particularly for those who’ve served our country. Since 1887, we have been creating life insurance policies accepting military risk, and we can provide you with ideal life insurance plans tailored for your parents. Contact AFI Insurance in Denver, CO, for a free life insurance quote. We are here to serve military families with excellent service and competitive rates!

Benefits of Additional Living Expense Coverage on a Homeowner Policy

At AFI Insurance in Denver, CO, we take pride in helping our homeowner clients understand the excellent coverages we offer. Additional living expense coverage comes standard when you purchase a homeowners insurance policy. It is beneficial because it pays for the extra cost (beyond your everyday living expenses) that impacts your family if you are unable to live in your home after a covered loss.

For instance, when a fire or tornado causes damage to your home and makes it uninhabitable, you incur increased expenses due to having to relocate while your home is repaired. So, the additional living expense (ALE) coverage is available to help with costs for extra expenses beyond your typical expenses while you are not able to live in your home. That cost could be for restaurant meals or hotel stays.

Additional Living Expense Covers, What?

Additional living expenses apply when your home is damaged and uninhabitable due to a covered peril listed on your homeowner’s policy.

Some of the most common perils (reasons for your loss) covered on homeowner’s policies include losses due to:

  • Smoke and fire
  • Tornado and other windstorms
  • Falling objects
  • Vandalism
  • Explosions
  • Water damage due to busted pipes
  • The weight of ice, snow, or sleet

Common expenses reimbursed to you under the additional living expense coverage can include, but are not limited to:

  • Temporary rentals or hotel fees
  • Restaurant expenses
  • The cost associated with boarding a pet

What is the coverage limit for ALE?

Your homeowner’s policy comes with a specific amount of coverage, which is the limit your policy will pay for your extra living expenses. Usually, it is a percentage of the coverage value of the policy you purchased and is only available for a set amount of time.

Get in touch with us today!

You may be a client who has questions about your homeowner policy, or you may be someone who is shopping around and looking for an excellent insurance solution for your home and to protect your family. Either way, we are here to help. Contact us today at AFI Insurance in Denver, CO, or schedule an appointment at (303)433-8888.

We look forward to earning your business.

Know Your Policy Exclusions in Auto Insurance

Auto insurance policies have specific exclusions that define what incidents or circumstances the insurance company will not cover if you live in Denver, CO, or around the area. These exclusions are critical to know as they determine situations where you may not receive compensation despite having coverage.

Common Exclusions

Common auto insurance exclusions include intentional damage, such as accidents caused by reckless driving or driving under the influence. Policies also typically exclude regular wear and tear, mechanical failures, and damage from racing or other illegal activities.

Another thing policyholders need to remember is the lack of maintenance on a vehicle. If they fail to keep up with the car to keep it reliable and in working condition, the vehicle may stall and cause an accident. Although cars are considered machines, they can fail without warning. If it is learned that the driver failed to perform a specific check on the vehicle or it failed inspection, this could cause a denial in a claim.

Business Use Exclusions

Using your vehicle for business without proper commercial insurance coverage is often excluded. This includes activities like deliveries or ridesharing, where incidents may not be covered under a standard personal auto insurance policy. If not reported truthfully, it may be considered a form of insurance fraud in some situations. This can lead to severe fines.

Vehicle and Modification Exclusions

Standard auto insurance policies may not cover certain vehicles or extensive modifications. This can include vehicles used for off-road purposes or those with significant alterations. Inquiring with the insurance agency or reviewing your policy can help identify any such exclusions.

AFI Insurance Is There For You

AFI Insurance is here for you when you need insurance information. Our services are available in Denver, CO, and the surrounding areas. Call today.

Specialty Insurance – Coverage That Goes Above and Beyond

Specialty insurance covers unique items and circumstances. Learn how this type of coverage goes above and beyond to protect residential and business property owners. 

Specialty Insurance

Specialty insurance is optional insurance that can be purchased to protect structures, personal possessions, business equipment, and more. It is often purchased as an ‘add-on.’

An add-on insurance product is a type of insurance that fills in gaps that a standard home or business insurance policy doesn’t fill. Specialty insurance is an insurance product that provides distinct coverage.

A consumer’s property is typically assessed before a specialty insurance policy is prepared. The assessment is used to identify a consumer’s unique insurance needs.

Circumstances That May Require Specialty Insurance

  • Unique investment property
  • Ownership of a rare item
  • Custom designs within a home or business
  • An original business plan that requires targeted steps

Assessment

The list above highlights some standard circumstances that may require specialized insurance coverage. You may fall into one of the categories listed. You may also have a unique circumstance not included in the list.

An assessment of your residential or commercial property will help you determine which specialty add-ons you need.

It is a good idea to review all the insurance products offered through an insurance agency before you purchase an add-on type of insurance.

Contact AFI Insurance

Please consult with one of our Denver, CO representatives. An agent who is employed by AFI Insurance will schedule a consultation for you. During this meeting, you will be free to discuss the specialty insurance products that you are interested in purchasing for your home or business.

Are Your Financial Plans Protected? They Can Be with Financial Planning Insurance

Many people make financial plans, and some people, like advisors and financial planners, even make a living doing it. However, the problem with financial planning is that it is like most investment-structured plans. It comes with a fair amount of risk. The good news is there are ways to help protect your financial plans, just in case. That is also why people who invest in financial planning in and around the Denver, CO area turn to the trusted and experienced agents at AFI Insurance for all their financial planning insurance needs.

Are Your Financial Plans Protected?

If you are involved and invest in financial planning, either as a vocation or for your personal goals, insurance can help. Imagine being able to protect and safeguard your investments and financial plans from sudden economic disruption, a liability claim, or other potentially devastating issues. With financial planning insurance, you can protect your investments, secure your plans, and provide that little extra peace of mind if your best-laid plans go astray.

Financial Planning Insurance in Denver

Are you an investor or financial planner in Denver, CO? Are you making investments in financial planning for your retirement and goals? Then financial planning could be the safety net you need and a backup plan you can rely on if your financial plans take a dramatic downturn. Do you have questions about financial planning insurance? Would you like to learn more about how financial planning insurance could benefit you? Then, our friendly and professional team of agents at AFI Insurance can help. Contact us to learn more and schedule an appointment today to protect your plans, future, and finances.

What Do Policy Limits Mean?

Insurance limits are the maximum amount that your provider may pay out for claims in accordance with your policy. Most policies involve home and auto insurance with specified coverage limits, as explained by our agents here at AFI Insurance in Denver, CO.

Explaining Car insurance Limits

Auto insurance policies range in coverage limits depending on your policy type. It is possible to opt for higher liability limits to offer greater protection for your assets and any costs due to damages to another person’s property or an injury you’re found liable for. Typical liability coverage is $30,000 for property damage, $50,000 for bodily injuries per person, and $100,000 for bodily injuries per accident. You can choose a more comprehensive policy with extra coverage amounts.

Home Insurance Policy Limits

There are various components to home insurance policies, including the following:

Dwelling Limits

If you owe a mortgage on your home, financial lending companies will require you to have dwelling coverage in an amount that will cover the cost of rebuilding the home should it be severely damaged. The amount will depend on the replacement costs, which are determined by the age, size, and other features of the dwelling.

Personal Property Limits

The limits on personal property are generally 50% of your dwelling limits, but they can often be increased or decreased depending on your needs. If you want certain valuables covered up to full replacement costs, consider adding a rider or endorsement to insure them in addition to your primary policy.

Loss of Use and Personal Liability Limits

Insurance companies vary in how they set coverage limitations for loss of use for living expenses beyond your normal costs incurred when your house is being rebuilt or replaced due to covered losses. Some policies provide compensation for hotels, other lodgings, and meals for a set period. Owners with personal liability coverage if a household member is responsible for injury to other persons or their property.

Be Sure to Understand Your Policy’s Term Limits

Be sure to fully understand your policy to be prepared for certain home and auto incidents. For more information, feel free to contact us at AFI Insurance in Denver, CO.

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