What is specialty insurance?

Here at AFI Insurance, we know that you have hobbies. And we want to protect those passionate activities from risks. Serving the Denver, CO area, we want to help you to find the right specialty insurance policy for you. So you can get back to doing what you love knowing that you and your hobbies are covered.

Specialty insurance covers items or events that are… well, special anyway. These items are rarely covered by common insurance policies. Specialty coverage can vary, depending on what you and your situation require. It can cover accidents or some damages to your power sport vehicles. It can even cover houses with aged roofs.

Perhaps an unknown benefit of specialty insurance is that it can protect you from lawsuits. This is especially beneficial if you own a business or use your home as a business. Specialty insurance can help financially in the event that there is litigation against you or your business for a variety of accusations.

One of the biggest myths about specialty insurance is that it is overly expensive. And that is just plain not true. At AFI Insurance, we want to find the right policy for you and your needs according to your budget too. We know that some things are special to you, and we want to cover those specialties. By speaking with one of our agents, you can explore your options for specialty insurance coverage and find the right fit for you.

To find out more about specialty insurance or to find the right policy for you, please contact us at AFI Insurance, servicing the Denver, CO area. We are happy to answer any questions you may have about specialty insurance, the advantages it can have for you, and explore your coverage options.

Types of Financial Planning Insurance in Colorado

Financial planning insurance is a sound plan when you reach that point in life where you begin to wonder how you will cover the cost of living after you retire. The planning doesn’t necessarily need to cover your retirement plan, but it can function as part of it. You may begin planning financial planning insurance to supplement a future pension for example, or to serve as an income stream in lieu of one.

You may also just want some extra coverage in the event that you lose your job today. There is always private insurance available for every life event.

Life Insurance

There are two kinds of life insurance for financial planning. Term life insurance pays benefits to beneficiaries in the event that you pass away. Whole life or permanent life insurance serves as an asset and can pay dividends to you during your lifetime. 

It can also be borrowed against as an asset if you need funds down the road. There is also a lump sum payment available to beneficiaries after you die.

Critical Illness Coverage

This kind of insurance is exactly what it sounds like. This is an insurance policy that will cover you if you get ill and have to quit work or take some time off. 

There are certain illnesses that this insurance policy will cover you for. If you have a pre-existing condition, you may still be able to get insurance. You will just have to pay a little more for it.

For many critical illness coverages, you get a one-time payment that is tax-free.

Long-Term Care Insurance

Long-term care insurance is a kind of financial planning that will cover long-term care such as nursing homes or in-home care. Long-term care insurance provides coverage and benefits that can support you if you need to move or need care in the home. 

You do not need to be a certain age to claim this. If you have an accident or need long-term care, you can make a claim on your long-term care insurance.

Get a Quote

There’s insurance for everything, but good financial planning begins with insuring yourself in the event of life’s crises. At AFI Insurance, we want Denver, CO residents to feel protected for every life event, today and tomorrow. Call us for a quote for insurance that can give you some financial planning peace of mind.

Life insurance FAQs

Life insurance is something everyone can benefit from, but most people know little about it. Asking a lot of questions is not unusual and hopefully, this blog will answer some questions you have. If not, at AFI Insurance in Denver, CO we are here to provide the information you may need to help you get the right coverage. 

What types of life insurance are there? 

Life insurance comes in two basic types whole life and term. Whole life insurance lasts your entire life and term life insurance ends at the end of the term you purchased. A few variations of these two basic types exist such as universal life and variable life 

Can I borrow from my life insurance?

With whole life insurance, you have the ability to borrow in some cases as much as 90% of the death benefit. It varies from insurance company to insurance company so you will need to check with your carrier.  With term life, you are strictly paying for the death benefit protection. 

How long does a life insurance policy last?

When you purchase whole life insurance, it stays with you throughout your lifetime. A term policy has a term that can be from 5-30 years and at the end, it terminates. 

Does life insurance have a mandatory waiting period?

Most life insurance policies do have a waiting period. Typically, this is 5-6 weeks while the insurance company does its underwriting to determine your premium. In the interim, you are not covered. 

Am I limited to only one beneficiary on my life insurance policy? 

No, you can have as many primary beneficiaries as you want, and you may be asked to have backup beneficiaries in the event that all the primary beneficiaries pass away before you do. 

Contact AFI Insurance in Denver, CO for all your insurance needs. 

How Much Commercial Insurance Do You Need?

Denver, CO businesses have to contend with numerous risks. Ranging from theft, fire to vandalism, companies are always faced with threats. However, with commercial insurance from AFI insurance, businesses get liability coverage, property protection, cyber protection, and legal suit protection.

Now that you know what business insurance can do for your business, do you know how much commercial insurance you should carry? If not sure, stick on as AFI insurance shares more insights.

How much commercial insurance should you have?

Having the right amount of insurance coverage is vital, but carrying too much insurance can harm your business’s liquidity. As such, you need to strike a balance to reap optimal benefits. Below is a guide to help you not to carry too much or too little business insurance.

What’s the nature of your business? 

If you are in professional consultancy, you may need to consider professional liability coverage to protect you against alleged or actual professional negligence. However, you may not need this coverage if you are in a non-professional industry. 

What’s the value of your business property and business equipment? 

If you are buying commercial property coverage, it should be adequate to cover damages or replacements of your business assets. Other considerations to determine the amount of commercial insurance to carry include:

  • The number of employees 
  • The size of your business
  • Location of your business. Is it in a flood-risk area? 
  • Type of customers
  • Legal requirements for business insurance 

Commercial insurance in Denver, CO

While it’s essential to evaluate the types of insurance plans you should have, it’s equally important to determine the amount of insurance you need to purchase. For Denver, CO business owners, you don’t have to crack your heads establishing the amount of insurance you need. When you partner with AFI insurance, we will take care of all your commercial insurance needs as you concentrate on pressing matters. Contact us today.

How Financial Planning Insurance Can Help You in Denver, CO

If you live in the city of Denver, CO and are interested in financial planning insurance, you should consider what AFI Insurance has to offer.

Financial planning can be very important. Basically, it is the process of managing your finances properly, so that you can meet your life goals. Life insurance can be very important in a strong financial plan that you can make for yourself. Life insurance becomes more important as you grow older since you will want to be able to take care of your family in the event of your passing.

There are few common areas in which life insurance can be very important in financial planning. Paying off a mortgage is one of them. For the majority of people, this is one of their biggest expenses. You want to make sure that your family is able to afford this once you are gone. Another part of your financial planning is a lump sum of cash that should be used for final expenses. Your family should be able to pay for your funeral, rather than having to dip into emergency savings that may not even be there. Funding for college is also very important if you want to be able to provide for your child’s education whether you are around or not. If you are caring for aging parents or special needs children, this is another major reason why financial planning is important in relation to life insurance. These are just a few of the things that you need to consider during the financial planning process.

If you are interested in learning more about financial planning insurance in Denver, CO, you should feel free to contact the professionals at AFI Insurance. These individuals will be able to answer questions that you may have about this type of insurance and give you advice in terms of the policy that you should be choosing for yourself.

Specialty Insurance Can Protect Unique Situations

If you have a unique situation or item in your life, but you need to make sure you have adequate protection for it, specialty insurance may be just what you’re looking for. This insurance is designed to cover things that most standard policies don’t include, and it can make a big difference in your peace of mind. If you’re in the Denver, CO area and think you might need this type of insurance coverage, AFI Insurance can help. We have a lot of options for you to consider, and our agents are ready to help you find the kind of policy you need to cover your specialty situation or unique item properly.

Some examples of the situations this type of insurance can cover are educational liabilities, public entities, power sports vehicles, race cars, and more. By thinking outside the box, you can discover whether you have anything in your life that might need this type of coverage. While it’s not for everyone, you might be surprised at how many people can use this kind of coverage for something in their life. Even a house with an older roof, that won’t allow for a standard homeowner’s policy, could be eligible for specialty coverage under certain circumstances.

If you’re in the Denver, CO area and think specialty insurance might be right for you, or if you have questions about this type of coverage, reach out to us at AFI Insurance today. We can help you get the information you’re looking for and get all your questions answered. We can also work with you on specific policies so you can find the one that fits your situation. That way you’ll have coverage and peace of mind for all the things that matter most in your life, even if they’re unique or different.

Who should get life insurance?

When you live in the Denver, CO area, it is important that you spend time thinking about your personal insurance needs. A form of insurance that many people should consider getting is life insurance. This is an important form of insurance protection that can ensure that your dependents have the financial resources that they need. There are a few situations when someone should get life insurance. 

Life Insurance Gives Protection to Dependents

A key reason that people here need to get life insurance is that it gives protection to their dependents. When you have people that rely on you, it is important that you ensure their future is protected. One great way to do this is by getting life insurance. When you get a proper life insurance plan, it will give the financial protection that they need to continue to live the same lifestyle. 

Those that Want to Invest

You should also consider getting a life insurance plan if you would like to invest in your future. Those who choose to get a whole life policy will see some of their monthly premium payments accumulate in an account that they can liquidate in the future. This also grows with interest and is considered a conservative addition to someone’s investment portfolio.

When you are in the Denver, CO area there are many important forms of coverage to get, but life insurance may be the most important of all. When you are assessing your life insurance needs and options, calling AFI Insurance would be a good option. The team with AFI Insurance understands the unique complexities that come with picking insurance plans in this area. They can help you better assess your life insurance needs and options so you can choose a plan that is ideal for your situation. 

Required Commercial Insurance for Colorado

If you have a business in Colorado, there are certain types of insurance that are mandatory for you to have. These mandatory coverage types help to protect your business financially as well as protecting others. There are other types of commercial insurance that also may be needed by your business, though those are simply recommended and not required. If your business needs coverage, call us at AFI Insurance in Denver, CO to discuss your commercial insurance needs. 

Workers’ Compensation

Workers’ compensation insurance, often called workers’ comp, is coverage that pays for the injuries and illnesses of employees who become sick or injured while they’re at work. This insurance is required for every company that has any number of employees. If someone does work for a business, the state presumes that they are an employee, even if the arrangement has not been made legal. 

Commercial Auto Coverage

Every vehicle in Colorado that is owned by a business must be covered by a commercial auto policy. In Colorado, there is a specific, set minimum amount that you must be covered for when it comes to bodily injury liability for a single person injured in an accident as well as another amount required for everyone injured in the accident as a whole. There is also a small amount required for property damage liability coverage. If you have a vehicle that is used to do work for the business but is not owned by it, there is a different policy type that is recommended. There is a policy type called hire and non-owned insurance that should be used to cover these vehicles. 

Get Your Commercial Insurance

If you need commercial insurance, call us at AFI Insurance in Denver, CO to talk to an agent about the commercial coverage you need. 

An Overview Of What Specialty Insurance Entails

AFI Insurance assists Denver, CO residents by helping them find insurance coverage. We strive to help our clients find policies to protect their most important assets. We take pride in providing excellent customer service to our clients and treating them like family.

Specialty Insurance

If you enjoy a lot of hobbies in your spare time, specialty insurance is an asset. Specialty insurance protects your assets from the normal risks that you encounter when you operate them. If you enjoy traveling around Colorado in your RV, you can add specialty coverage to protect you. The policy covers your RV if you are involved in a collision or if your RV is stolen. You are also protected if your RV suffers engine trouble and you need emergency assistance.

If you enjoy traveling in your boat during the summer, the insurance coverage will protect you. The policy covers your boat if you are involved in a collision or if your boat is vandalized. Also, liability coverage protects you during times when you host family and friends and an accident occurs. You also have the option to amend your policy to cover you if your boat capsizes.

During the winter in Denver, CO, many people enjoy riding their snowmobiles and exploring the Rocky Mountains. While you are having a fun time in the snow, snowmobile coverage will protect you if you are involved in a collision or if your vehicle causes damage to another object. Snowmobile coverage is a valuable asset because the snowy weather is often unpredictable. The policy will cover many of the possible risks that are associated with operating the vehicle.

AFI Insurance Will Help You Protect Your Prized Possessions

Visit our website to learn more information about specialty insurance.  

Exploring The Benefits Of Financial Planning Insurance

AFI Insurance proudly serves the Denver, CO community by offering residents multiple types of insurance coverage. We strive to simplify the process of searching for insurance for our clients. Providing excellent customer service is one of our core values.

Exploring The Benefits Of Financial Planning Insurance

Setting goals and plans for the future can be difficult, especially in regards to your finances. Financial planning insurance can help alleviate some of the stress that you may feel as you look towards the future. The policy allows you to help get your affairs in order so that there will be a smooth transition once you pass away. You’ll have to figure out the type of life insurance policy that you want. Whole life policies will cover you throughout your lifetime, while term life policies will cover you for a specified period of time. Planning for the future helps ensure that your loved ones will have a foundation in place in an accident were to arise.

If you are a parent, financial planning insurance provides a guideline to help you take care of your children if something were to happen to you. If your child is suffering from a serious illness, financial planning insurance will help ensure that they receive the treatment that they need. If your child is preparing to go to college and looking at local Denver, CO schools, the policy can help cover your child’s tuition.

It’s important to start researching policies as soon as possible. Do not wait until you are only a few years away from retirement. You want to make sure that you have plenty of time to assess your options. Financial planning insurance is an asset regardless of your income level. The policy allows you to maximize the assets that you have.

AFI Insurance Will Help You Plan For The Future

Visit our website today to learn more information about financial planning insurance.