Category: 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.

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.

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.

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!

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.

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.

All businesses, including small businesses, are exposed to at least some risks. An unexpected accident, natural disaster, or other event can strike almost any business at almost any time. To help protect small businesses in Denver, CO, we at AFI Insurance often recommend a BOP insurance policy. This is a fundamental commercial insurance solution that meets many small businesses’ coverage needs.

Understanding BOP: What is a Business Owner’s Policy?

A business owner policy (BOP) is a specialized insurance policy designed to provide small businesses with essential coverage in a single, convenient package. By combining liability and property coverages, a BOP can protect against multiple risks that most companies face.

In addition to being convenient, purchasing a BOP usually costs a little less than getting each coverage individually. Bundling coverages in a single policy often provides some savings.

The commercial insurance coverages in a BOP can vary, but they typically include general liability, commercial property, and other optional protections.

General Liability Insurance: Protecting Against Third-Party Claims

General liability is commercial insurance that helps safeguard small businesses from certain third-party claims of bodily injury, property damage, defamation, and advertising injury. “Slip and fall” accidents and other common accidents that cause injury or damage to another party may be covered, as may defamation lawsuits.

Property Insurance: Safeguarding Physical Assets

Property insurance can protect small businesses’ physical assets, such as buildings, equipment, inventory, and furniture. With coverage against perils like fire, theft, vandalism, and natural disasters, property coverage can help businesses recover if something happens to their investments.

Customized Coverage Options: Tailoring BOP to Your Needs

In addition to these two protections, a BOP might also offer business income coverage, commercial auto coverage, or other protections. We at AFI Insurance can help you find the right ones for your Denver, CO business. Contact us today to find the insurance that your small business needs.

Are you hitting the road as a DoorDash driver in Denver, CO, or the surrounding areas? It’s a great way to earn extra cash, but have you considered how it affects your auto insurance? At AFI Insurance, we understand your unique challenges and are here to guide you through finding the right coverage for your side hustle.

Understanding Your Coverage Needs

When you’re dashing from door to door, delivering meals, your auto insurance might not fully cover you. Why? Because the moment you start using your vehicle for commercial purposes, like DoorDash, your insurance needs to change. This doesn’t mean you must panic; it just means you must be informed about your coverage options.

Balancing the Cost

Are you concerned about how this might affect your insurance premiums? Adding commercial coverage or a rideshare endorsement to your policy might increase costs. But think of it as protecting your financial future. Without the right coverage, you could be on the hook for damages or liabilities in the event of an accident while on a delivery. Here, we’re all about finding a balanced policy that offers solid protection without breaking the bank. Let’s work together to ensure you’re covered at every turn without unnecessary extras weighing you down.

We’re your Partner on the Road.

If you’re part of the bustling DoorDash community in Denver, CO, or nearby, swing by AFI Insurance. We’re here to help you navigate the ins and outs of auto insurance for delivery drivers, ensuring you have the proper protection as you deliver smiles and good food. Don’t let insurance worries dampen your hustle. Reach out to us, and let’s tailor a policy that keeps you dashing with confidence.

When planning for the future, you’re probably thinking about college for your children, your retirement, and other factors. With that in mind, one of the areas you might overlook is insurance. However, the right policies and coverage can significantly affect your level of protection and security. If you’re in the Denver, CO area, AFI Insurance is here to help you get the insurance policies you need for your financial planning strategy.

Our agents can help you find policies that fit your needs and goals. Some people want to protect their homes and vehicles, while others are looking for life policies and related options. Then, there’s umbrella insurance to protect you from claims larger than your standard policies offer. With so many options, you want someone who can give you answers.

Working with us means getting the knowledge you need to make an informed decision. We can provide you with quotes from multiple insurers, even if you want information on several different kinds of policies. Our goal is to give you quality planning support for your present situation and future needs, allowing you to have peace of mind as you focus on the things you want and need to do in life.

Contact us at AFI Insurance today if you’re in the Denver, CO, area and looking for insurance policies to help with financial planning. We understand the importance of finding the right help and support to feel confident that you’re protecting yourself and your loved ones. No matter the type of policy you’re considering or your current situation, we’re here to meet your coverage needs.