5 Misconceptions About Home Insurance

Most people have a lot of misconceptions about home insurance. Most people are so confused about it that they either don’t get any coverage or buy policies that offer little protection. This post will clear up five of the most common myths about home insurance.

1. Home Insurance Protects You From any Disasters

This is one of the most common misconceptions about home insurance. People think that as long as they have insurance, their home is completely protected from disasters. The truth is, home insurance only protects you from specific disasters. For example, most policies will cover damage from fires, storms, and burglaries. But they generally don’t cover damage from floods or earthquakes. So, if you live in an area that’s prone to these kinds of disasters, you’ll need to purchase separate insurance policies to protect your home.

2. Home Insurance Is Expensive

Another common misconception about home insurance is that it’s expensive. Again, this isn’t necessarily true. The cost of your policy will depend on several factors, including the value of your home, the amount of coverage you need, and the deductible you’re willing to pay. You can shop around and compare rates from different insurers to find the best deal.

3. Home Insurance Only Covers the Structure of Your Home

This is another common misconception. People often think that home insurance only covers the structure of their home. But most policies also cover your personal belongings, up to a certain amount. This means that if your home is damaged or destroyed, you’ll be compensated for the value of your belongings, not just the cost of repairing or rebuilding your home.

4. Filing a Claim Will Make Your Rates Go Up

This is a common fear among people who have home insurance. They think that if they file a claim, their rates will go up, and they’ll pay more for coverage than before. But this isn’t always the case. In most cases, your rates will only go up if you file multiple claims in a short period.

5. Home Insurance Is a Waste of Money

Finally, some people think that home insurance is a waste of money. They figure that they will never have a disaster, so they don’t need coverage. But this is a risky gamble. You never know when something might happen, and you could lose everything if you don’t have insurance.

Get Home Insurance in Denver, CO

Hopefully, this post has cleared up some misconceptions about home insurance. If you’re still unsure about what type of coverage you need, or if you have any other questions, don’t hesitate to get in touch with us. At AFI Insurance, we’re always happy to help our customers find the right coverage for their needs.

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.

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. 

Benefits of Reviewing Home Insurance At Least Once A Year

Times are constantly changing, and homeowners get exposed to different kinds of risks they did not expect. This necessitates the need for one to adjust their policy to accommodate the different needs. While some homeowners may not see the need to review their home insurance after each year, it is a recommended practice. Below, AFI Insurance of Denver, CO takes you through the importance of reviewing your home insurance.

Take Advantage of Discounts

Often, you will find insurance companies offering a discount on home insurance policies for several reasons. Maybe you have upgraded your home security features, or you have decided on bundling your policies. There are many reasons you could be eligible for a discount. With a review, you will be updated on what discounts are available on your current policy, saving you money,

Adjust to Life Changes

Sudden life changes can affect your policy, requiring you to review it. For instance, a change in income, home renovations, or a change in family size may require you to review your policy to suit your current needs. In addition, these changes will require you to update your information and help in filing a proper claim when the need arises.

Allows you to Take Advantage of any Policy Changes

Policy changes will affect your coverage. For instance, an improvement in legal requirements can cause insurers to offer a better policy. By reviewing your insurance every year, you get to know about such upgrades and enjoy them. It is also possible for errors to affect your coverage. That is why you need to review your policy to prevent financial loss.

Reviewing your policies annually does not necessarily mean you have to change them that often. However, it helps you stay aware of current changes. Residents of Denver, CO, looking to update their home insurance coverage can reach out to AFI Insurance today. Our agents will gladly help you choose the right policy to protect your home.

Making sure your home is prepared for an emergency

The world is full of hazards. You never know when one will strike. Making sure your home is prepared for an emergency is one of the best things you can do. It should involve not just your home but your entire family and even the children need to know the details. Not every location is susceptible to every hazard but knowing the ones that can affect you can help you to pinpoint your response. Having a good home insurance policy is one way to be prepared. In Denver, CO, AFI Insurance has an experienced team who looks forward to earning your trust and your business. 

Have a plan

You should have an emergency plan in place and make sure all members of the family know the plan. It can be where to go in the event of a tornado or finding out where the nearest hurricane shelter is. 

Have food and water

Have an adequate supply of bottled water and non-perishable food. You need to make sure the food is in a container that doesn’t require electricity to open and can be eaten cold in the event you don’t have a way to warm them. The alternative is to have a portable propane stove to cook them. 

Flashlights and batteries

Nothing is worse than being stuck in the dark during an emergency. Large battery-operated LED lights provide a great deal of light and you will be able to avoid lighting candles or hitting in the dark. 

Power supply

Having a generator or another alternate power supply can make all the difference and can keep the food in your fridge and freezer safe when the electricity has gone out and kept your cell phone charged. 

Store important documents safely

Know where they are and have them in a fire and waterproof box or envelope. 

Contact AFI Insurance in Denver, CO for help with your home insurance needs. 

Three things to remember when purchasing home insurance

The best thing you can do to protect the investment you make in your home is to purchase quality home insurance coverage. We can help with that at AFI Insurance. We insure the homes of consumers in Denver, CO.

The following are three things you should remember when you purchase home insurance.

Home insurance coverage generally won’t include flood insurance.

Every homeowner needs to realize that a standard home insurance policy doesn’t generally cover flood damage. You need to invest in flood insurance separately.

You should be aware of the flood risk of your area as well as any possible FEMA flood insurance subsidies when you purchase flood insurance for your home. 

You need to make sure outbuildings are covered.

Another detail of your flood insurance policy you definitely want to look into is outbuilding coverage.

You can’t automatically assume that outbuildings like detached garages or barns will be covered under a standard policy. You need to read the fine print. You might have to invest in added coverage to get your outbuildings covered. 

You may benefit from investing in home improvements. 

Before you select a home insurance policy, it might be worth your while to look into the benefits of doing some home improvements. Home insurance providers might give you a better deal if you make some improvements to your home that enhance safety and security. 

Home improvements can do more than just get you a better deal on home insurance. They can also mean you’ll be more safe and secure in your home. Moreover, improvements can also bring up the resale value of your home. 

Would you like to learn more about purchasing home insurance in Denver, CO? Let us come to your assistance. Contact us at AFI Insurance with your inquiries and questions when it comes to your home insurance choices. 

Does My Homeowners’ Insurance Cover Any Losses During a Renovation?

Renovating your home will add to its value when the work is finished, but it will increase your liability while the work is being completed. Your homeowners’ insurance will cover general types of liability. Denver, CO residents who are going to renovate their home can talk to the agents of AFI Insurance if they have questions about their homeowners’ insurance.

Increased Liability

During renovations, there is an increased risk of accidents and injuries to both your family and those who are working on your home. This increase in risk will be in place until the renovations are completed. Your insurance agent may recommend increasing the amount of liability coverage you have on your home to make sure you are fully protected.

Materials 

During renovations, you will have an abundance of building materials on your property. You will also have a variety of tools and equipment as well. Building materials are expensive and be difficult to replace if stolen or damaged in any way. Covering them with your homeowners’ policy may result in purchasing additional insurance.

Additional Coverage

As the work is completed, the value of your home will begin to change. It is essential that you keep in touch with your insurance agent. Discussing the additional value is important will be important when determining how much homeowners’ insurance you will need.

AFI Insurance has agents who are able to discuss your policy and recommend any changes that need to be made when you are renovating your home. Denver, CO residents can count on the agents to provide valuable insight into protecting your investment and any improvements that are being made to it. Call the office and make sure you have the coverage you need before renovations start.

Maintenance vs. Repair Visits and Home Insurance Coverage

You might expect your homeowner’s policy to pay for everything home-related, but that is not really how it works. Your repairs from named peril damages do get covered, but your maintenance to keep the home does not. AFI Insurance serving Denver, CO wants you to understand the ins and outs of home policies so you do not experience any surprises.

When you have a professional tradesperson such as a plumber or electrician conduct a maintenance visit, you pay out of pocket. The standard HO-1 policy does not cover maintenance. It pays for damages from named perils. Your policy might pay for the damages they maintenance visit uncovers, but not the maintenance visit or inspection.

Let’s say that you have the roof of your home inspected and your gutters cleaned. During the maintenance visit, the roof inspector discovers shingle damage and a slight leak caused by a tree limb still laying on the roof. The damage looks relatively fresh and the inspector thinks it happened during the thunderstorm that carried high winds two weeks before. He recommends immediate repairs so that the small leak does not grow and no water damage occurs in your attic. You file a claim on your homeowners’ insurance. The policy pays for the full roof repairs, but not the inspection that discovered the leak.

The standard home policy covers the damage. The insurance companies expect that you will maintain your home to as high a standard as possible. This means you pay for its upkeep, but insurance pays for the unexpected. If a wildfire sets your home ablaze, your home policy covers the damage to the structure and your belongings. If you decide to upgrade your home’s electrical though, you pay out of pocket.

Maintenance visits differ from repair visits under the home policy. Contact AFI Insurance of Denver, CO to learn more about the little things a home policy does and does not cover.

When do I need home insurance in Colorado?

Moving to the state of Colorado is a dream for a lot of people. When you live in the Denver CO area, you will have close access to all of the amazing outdoor activities that the state has to offer while also providing a great local economy. Due to this, owning a property in Denver is a great option. If you are going to own a home in Colorado, it is important that you get a proper insurance policy. There are several reasons why you need to get home insurance in this area. ,

Protects Your Assets

One of the reasons why you need home insurance is that it can protect your asset. Buying a home is a very significant investment. Further, when you own a property, you will also likely have invested a lot of money in personal assets. To ensure that your home is properly covered, you should get a home insurance policy. 

Gives Liability Coverage

Another reason why you should get a home insurance policy is that it will give you liability coverage. Those that own property are going to take on liability risk whenever they have a guest come over to their home. If your guest does get injured, you could be found liable for any injuries or other damages. Since these costs can be significant, you should get a home insurance policy to protect against this risk. 

When you are looking for a home insurance policy in the Denver, CO area, it is important that you carefully consider all of your needs and options. When you are searching for a policy, AFI Insurance is a great company to turn to. The team at AFI Insurance will work hard to ensure you know all of your options. This will help to ensure you get into a great policy that provides appropriate coverage.