What Types of Specialty Insurnace Exist?

Insurance is a varied thing, there are coverages for just about anything you could ever imagine. That being said, knowing what types of specialty policy exist and what you might be able to get covered can help you to make sure you have the right policy. For those in the Denver, CO area, the agents with AFI Insurance can help you to find the perfect specialty policy.

Some of the most common specialty policies have to do with items that you own. You can take out policies for firearms, for jewelry, for collections, and more. These policies are going to cover the price of replacement of these items should they become lost, damaged, or stolen. These policies are often taken out against the value of the item and are going to be based on the appraised value of the item. If you have a collection or have items that are more expensive that what might be covered on a typical home policy, you may need to look into a specialty policy.

There are other types of specialty policies. Another type is umbrella insurance, this covers just about anything on top of policies that you already have in place. Still another policy you might not think about it event insurance. This is going to be insurance to help cover the cost if something goes wrong at the event, if something is damaged, or if the event is canceled for any particular reason. It is important that if you have any sort of specialty insurance you might be thinking of taking out, that you take the time to talk with an agent about what policies are available.

For those in the Denver, CO area, the agents with AFI Insurance can help you to find the right policy for your needs.  

Can I Have My Insurance Put Into A Trust for My Children?

One of your biggest concerns as a parent is providing for your children if something should happen to you. The agents of AFI Insurance serve residents living in the Denver, CO area. They understand those concerns and can help you create a policy that will provide funds for your children’s welfare in the event you are taken from them. Trust funds are just one option that can be used to earmark fund for each of your children.

Creating a Trust for Minor Children

If you plan on designating a specific amount of money for each child to be placed into a trust, you will need to find a beneficiary who is willing to carry out your wishes once you have passed away. While you can designate each child as a beneficiary, the parent or guardian of the child will gain control of the funds upon your death and there will be no guarantee that the money will be used solely for their well-being. 

The Right Beneficiary

Choosing the right beneficiary ensures the proper steps will be taken to put the money in a trust fund where it can be used as needed to care for your child. If this is what you are interested in doing, you can name your family’s attorney as your beneficiary allowing them to establish the trust funds in your children’s names.

In Denver, CO, the agents of AFI Insurance can answer your questions and address any concerns you may have. If you want to learn more about setting up a trust fund or choosing the right beneficiary, call their office today and schedule an appointment. They can help you get the right policy to meet your needs.

Why Keeping Your Company Facility Up to Code is Important

If you are a business owner, your business facility is one of the biggest assets you have. This is the place where you will conduct your business and it is the location that customers associate with your business. Keeping your facility up to code is important for a number of reasons. 

Customer Impressions

Your facility is often the first encounter that your customers will have with your business. When your customers first arrive at your facility they will quickly form a first impression of you and your company. Keeping your company facility looking nice and maintaining safety codes will improve your impressions on your customers.

Safety of Employees

Keeping your company facility up to code is also important to the safety of your employees. The safety and building codes that are in place are set there to keep employees and customers safe. This is also a protection for you as the business owner because if a customer or employee is hurt at your facility then you could be held liable in a law suit or in a worker’s compensation suit. These types of expenses could be devastating to your business. Taking the time now to make your company facility safe will save you money in the long run even though you may need to invest money initially. 

Respect in the Community

The community in which you operate your business will have an opinion on you and your company. You want to establish a good reputation and relationship with your community. Keeping your facility up to code, nice looking and safe will all help achieve this goal. When you have a good working relationship with the community in which you operate, you will be able to benefit in many ways. 

If you would like to learn more about commercial insurance contact AFI Insurance serving Denver, CO. 

Four Ways to Protect Your Vehicles

If you have a vehicle of your own, then you understand how important it is to protect it. Your vehicle is your means of transportation and you want to do all you can to make sure it lasts as long as possible. The longer it lasts, the longer you can keep from having to go buy a new one. Here at AFI Insurance serving Denver, CO, we put together a bit of helpful information to help you understand how to protect your car. 

Get Auto Insurance

Everyone who owns or drives a vehicle needs auto insurance. You are sure to rest easier at night knowing you are protected with auto insurance because if something was to happen, your policy could kick in and provide awesome coverage. The level of coverage you have is, of course, going to be determined by the type of policy you have. You will need to speak with your agent to get a good understanding of your policy. 

Keep Them in a Garage

Instead of living your vehicles out on the streets or in a driveway, you should keep them in a garage if possible; this helps protect them against thieves.

Don’t Park Near Other Cars

When parking, try to park away from the other cars; this helps ensure you don’t get door banged or people don’t lean up against your car when walking by it and accidentally scratch it. 

Keep Them Locked at All Times

Lastly, you will want to keep your doors on your car locked at all times. Even if you don’t keep anything valuable in your car, you want to make sure no one gets in and vandalizes it. 

To learn more about protecting your car, contact AFI Insurance serving the Denver, CO area today.

Misconceptions about Home Insurance

Some homeowners believe when they have home insurance in Denver, CO, that they are covered no matter what happens. However, that’s not the case and there are a few common misconceptions about home insurance.

Flood Damage Is Covered

Home insurance won’t cover flood damage and you will need a separate policy in order to be covered in the event of a flood.

Medical Expenses Are Covered

The medical payments option in your home insurance is not designed to protect you or your family in the event of an injury, but instead is used to protect any guests that get injured on your property.

Making an Inventory List Is a Waste

The inventory lists actually serves as your proof of ownership, so when you need to file a claim you will be asked to list all the items that were lost. Don’t forget anything so that you can maximize your reimbursement.

Insurance Covers All Your Valuables

Expensive valuables, such as jewelry and furs, may not be covered. You should double check with your agent at AFI Insurance to see how much coverage you have, and then get an extra policy that covers the possessions you need protected.

Home Insurance Will Cover Mold

Many times home insurance will not cover mold or damages that are caused by poor maintenance. Insurance is not there to help you maintain your home and you alone are responsible for home maintenance.

You Are Required to Have Home Insurance

Many mortgage lenders will require you to have home insurance, but after you pay off your loan you aren’t required by law in Denver, CO to have home insurance. Home insurance is a good investment to have to protect your home, but you don’t need to have it.

Contact AFI Insurance to get a quote on home insurance.

 

Can Boat Insurance Cover My Boat On Transit?

You are bringing your boat home after a summer vacation on the waters. You get it on your trailer and you are ready to start towing her home. While transporting the boat home, you keep checking the rear mirror just to ensure your vessel is okay. Unfortunately, you hear a weird noise, and on looking back, you realize that your boat looks crooked. So what are your options? Will your boat insurance policy protect it if you are in transit?

Land transportation is also included in boat insurance, meaning that your vessel will be protected when you are transporting it to any destination. However, it’s important to confirm with the insurer before purchasing the coverage. AFI Insurance is one of the insurance companies you can rely on when you need boat insurance in Denver, CO.

Usually, most boat insurance plans offer a road transit coverage if your craft is less than 30ft. But, your insurer may cover a larger boat as long as the transit is done by a professional transport company using a trailer that is built to transport boats. Note that you must notify your insurer in advance.

You require a boat insurance policy

A boat insurance plan will cover damage to your boat whether you are in or out of the water, and still give you liability protection if you are found responsible for injuries to water skiers, swimmers, or other boaters, or when you damage a dock, another boat or the environment as a result of fuel spillage. Additionally, boat insurance offers a no-fault medical bill payment coverage for injuries that your passengers suffer on your boat after an accident.

You can get a hassle-free boat insurance coverage today in Denver, CO when you contact AFI Insurance. We will make it fast and straightforward, so you can be safe whenever you are transporting or using your boat.

Rv Insurance When the Vehicle’s Your Primary Residence

If you’re living in your recreational vehicle as your primary residences, there are additional risks and concerns that come with living on the road, which affects your coverage. There are additional coverage requirements and allowances, designed to financially protect you and make your life easier if something goes bad. If you’re considered living in your RV while your insurance provider doesn’t know that it’s your permanent residence, you may be denied if you make a claim. Therefore, it’s very important to be up-front and discuss your intentions with your provider. Find out answers to your questions and learn more about RV insurance by contacting AFI Insurance, a company that serves the Denver, CO area.

What You Need to Know About Full-time Rv Insurance

Full-time personal liability is very important if you’re living in your RV. This coverage pays for property damage and bodily injury to other persons when you’re at fault for an accident. You likely already have this coverage on your regular policy, but you need full-time liability in order to avoid rejected claims.

Medical payments to others coverage pay for medical costs caused by people who are injured while in your RV or the property nearby. For example, this coverage protects you if a friend gets hurt while spending some time with you inside or just outside your RV.

Personal belongings coverage reimburses you for stolen or damaged items. If you’re living in your RV, there are likely some important items inside, so this coverage is quite valuable.

Emergency expense allowance is helpful, as it pays for food and housing if you’re dealing with a covered claim that’s more than a predetermined distance from your residence.

Storage shed contents coverage pays for the valuables located in a storage unit that’s leased, owned or, rented by the insurer during the time of the loss.

There’s a lot more information that is important when it comes to full-time RV insurance. Get in touch with AFI Insurance, assisting people in the Denver, CO area, to learn more about how you can protect yourself while your RV is your permanent residence.

Do You Need Mexican Insurance for a Trip to Mexico Driving a Rental Car?

If you’re planning a trip to Mexico, you may think of renting a car in Denver, CO and driving across the border. Your U.S. auto insurance company may have written policy information indicating you are covered for any incidents occurring in Mexico.

This is not true. The only insurance coverage acceptable in Mexico is Mexican insurance. Some car rental companies offer Mexican insurance and others don’t. How far do you intend to drive into Mexico? You will need a temporary import permit for the rental car if you plan to drive farther than the Border Zone. The Border Zone extends about 20 miles into Mexico. The import permit will be issued for the same amount of time as your tourist permit. You will also find slightly different rules for the states of Baja California and Sonora.

You can purchase temporary Mexican auto insurance for your rental car. You will need to take proof of insurance with you when renting the car. Keep the insurance policy with your other required documents at all times while driving in Mexico. Types of insurance coverage that can be included in a Mexican rental car insurance policy include third-party liability, excess liability, medical expenses, and legal aid and bond coverage. You may also want coverage in case of vehicle theft and physical damage to the car.

Before renting a car for a trip to Mexico, check with our AFI Insurance agents serving Denver, CO. They understand Mexican insurance and legal requirements. They will be glad to explain the differences in U.S. and Mexican insurance. They will help you to meet your insurance needs when driving a rental car across the border. 
 

What Kind of Commercial Insurance Policy do I Need

If you are in Denver, CO or the surrounding areas and own a business, you are putting the longevity of your company at risk if you are not covered by a commercial insurance policy. A commercial insurance policy will limit your liability and risks for potential lawsuits, injuries, advertisement claims and much more. 

Workers compensation insurance is mandatory in Colorado for all employers that have a minimum of one employee, whether the employee(s) works part or full-time. A commercial insurance policy- while not mandatory by law- is highly recommended to protect your business. AFI Insurance agents can help answer questions you may have about purchasing a commercial policy for your business. 

What Should my Commercial Policy Cover?

A considerable risk is involved in owning a business. The following should be covered under an ideal commercial insurance policy:

  • Legal fees and medical expenses from a lawsuit
  • Injuries that occurred at your place of business, or as a result of your business, and injury claims
  • Property damage
  • Legal settlements and judgments
  • Legal fees associated with advertising claims
  • Legal fees associated with company investigations
  • Products that have caused damage or injury to a customer or employee

Those basic factors are usually sufficient for a small business. However, there are limitations to policy coverage amounts. If your company is large with a high number of employees or revenue, additional coverage may be appropriate to extend beyond the financial caps of your commercial policy. This is also true if you want to add other coverage, like property damage as the result of a natural disaster. 

AFI Insurance agents in Denver, CO are experienced, professional and can define the right commercial insurance policy to fit your business needs.  Contact an agent today to learn more.  

Why is RTV Insurance Important?

RTV (return to value) insurance is a form of gap insurance for vehicles that are owned for more than 3 months but are not more than 7 years old. This coverage applies to all modes of car purchase – a bank loan, cash, and contract hire leasing agreements. If the insurance company declares your vehicle a total loss because it got stolen or damaged beyond repair, the RTV insurance will provide coverage against the depreciating value of the vehicle. If you’re living in Denver, CO or surrounding areas, you can get this coverage from insurers like AFI Insurance.
What’s the importance of RTV insurance?
This insurance plan offers coverage against any financial loss if your vehicle is stolen and cannot be recovered or when the vehicle is unsafe to repair, meaning that the repair costs are higher than the vehicle’s value.
Below are some benefits of RTV insurance:
  • Refunds depreciation
  • All benefits are paid to the customer directly
  • • The cover is provided for 4 years
  • Once a vehicle is on coverage, there are no mileage limits
  • It protects the customer’s investment
  • It replaces the auto with a similar vehicle
  • Once the vehicle is delivered, one can buy the insurance coverage for up to seven years
  • The coverage is backed by FCA’s protection norms
  • The coverage is designed for vehicles that were bought privately or from any garage that doesn’t have VAT registration.
Reason RTV insurance is valuable
If you have this coverage, you can be sure that you will be protected in case your car is lost or destroyed beyond repair. Most stolen cars are never recovered despite the best efforts, so the insurance providers often declare them a total loss. This is why you need RTV insurance.
You can now get your RTV insurance from AFI Insurance that serves Denver, CO and surrounding areas. Contact us today for a quote.