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Colorado Insurance Blog

Four things consumers need to know about their auto insurance policy

When a good auto insurance policy covers you, hitting the road in your vehicle is most enjoyable. At AFI Insurance, we can offer quality coverage to motorists in Denver, CO.

Consumers need to be accurately informed about the coverage they’re carrying on the roads. The following are four things that consumers should know about their auto insurance policy. 

The coverage types

An auto insurance policy can include many different types of coverage. Every auto insurance policy contains basic liability coverage. Additionally, auto insurance policies can include collision, uninsured motorist, comprehensive, and rental vehicle coverage.

Motorists should know about the different auto insurance coverage types out there to be sure their policy includes the types of coverage they want and need. 

The coverage maximums

Auto insurance policies specify coverage maximums. A policy maximum is the maximum amount the policy will pay out in the event of liability damages. Investing in an adequate amount of liability coverage is essential to avoid financial problems and debt due to an auto accident. 

The policy deductible

The deductible is the amount you’ll have to put toward damage costs after an accident. Motorists should ensure they always have at least the deductible amount available in an emergency fund to pay out of pocket if they get into an accident. 

The process for filing a claim

Knowing about the claims process in advance helps to reduce the stress of being involved in an accident. Most insurance companies offer policyholders the option of filing a claim over the phone or online if they get into an accident.  

At AFI Insurance, we can offer auto insurance coverage that provides peace of mind to motorists in Denver, CO. If you’re looking for an auto insurance policy, call us today for a quote.

Stay Protected With Home Insurance

If you own a home, you likely already know that home insurance is highly recommended for you. No matter which type of house you have and where in Colorado it’s located, it needs to be covered by an insurance policy. Without this insurance for even a day, there is a risk that could leave you with severe financial damage. Many things can happen to a home and what’s inside it, and you need to be covered just in case. Call us at AFI Insurance in Denver, CO to get your home insurance policy.

Home Protection

One of the main functions of home insurance is to protect the actual house. These policies cover homes against a broad range of specific risks that can occur and damage a home. If certain accidents, disasters, etc., should happen to a covered house, the policy can pay for the needed repairs. The policy can even pay for rebuilding a home if it gets destroyed in a covered incident. Don’t be without this coverage. 

Possession Protection

The policy also covers the items inside the covered home. When something damages the house, it may also damage your possessions. This can be highly expensive to take care of. When you have a home insurance policy, it can pay for the damages and get things replaced. Replacing everything would be prohibitively expensive for many homeowners. 

Liability Protection

You’re liable for any accidents that happen on your property. If someone gets injured on your property, your home insurance policy will cover the costs of the accident. This is another important type of coverage that you shouldn’t be without. 

Get Home Insurance 

If you need a home insurance policy, we can help. Call us now at AFI Insurance in Denver, CO.

Do I need specialty insurance for my collection and other valuables?

Whether you own your home or rent, you may need specialty insurance without even realizing it. For most people, specialty insurance covers belongings such as jewelry, artwork, and collectibles that exceed your home or renter’s standard policy limits, which can be quite low. If you live in the Denver, CO area and want to know whether you might benefit from specialty insurance, let our team at AFI Insurance walk you through your options.

Specialty Insurance Options

The typical home or renter’s insurance has limits on the total value of your household belongings and by category, with many limiting the coverage for the theft of jewelry, watches, and furs to $1,500. Many households have engagement rings or other items worth well more than $1,500, so the need for additional coverage is widespread.

Among your options for these valuables are:

  • Higher Policy Limits- This approach increases the standard policy limits. While they are simple to execute, the increased limits often remain below the level needed.
  • Riders or Endorsements- Policyholders can add riders or endorsements to their home policies that insure specific items outside the normal limits. These work well for those with a few valuable items.
  • Specialty Insurance- These distinct policies cover specific items or collections against theft, damage, or loss and require professional appraisals of each item. An added benefit is that a claim on a specialty insurance policy does not affect your home policy, making them the appropriate solution for many with moderately priced valuables.

Working with AFI Insurance

Each client has unique insurance needs. AFI Insurance proudly serves the Denver, CO area, and can help you obtain a specialty insurance policy to protect your valuables. So, call or stop by today to discuss your specialty insurance options.

Frequently Asked Questions About Financial Planning Insurance

Financial planning insurance is a vital element of a comprehensive financial strategy, providing protection and peace of mind for you and your family. Here at AFI Insurance, serving the greater Denver, CO area, we want to help answer any questions you may have about this insurance product. Here are common questions about financial planning insurance, along with the answers.

1. What Is Financial Planning Insurance?

It includes various products like Life Insurance, Disability Insurance, and Long-Term Care Insurance, designed to protect your financial well-being.

2. Why Do I Need Financial Planning Insurance?

It safeguards your financial goals and assets from unexpected events such as Illness or Death, ensuring financial security for your loved ones.

3. What Types of Insurance Should Be Part of My Financial Plan?

Common types include Life Insurance (providing a payout to beneficiaries upon your death), Disability Insurance (replacing lost income due to Disability), and Long-Term Care Insurance (covering Assisted Living or Nursing Home costs).

4. When Should I Consider Purchasing Financial Planning Insurance?

Ideally, start when you begin your financial journey or experience significant life changes like Marriage or Home Purchase. Buying insurance at a younger age often results in lower premiums.

5. How Much Coverage Do I Need?

The amount depends on your goals, obligations, and lifestyle. Consult a financial advisor for personalized guidance.

Financial planning insurance acts as a safety net, protecting your financial future. Consult with a financial advisor to create a tailored insurance strategy aligned with your goals and needs, ensuring you and your family are well-protected in uncertain times. If you’re ready to learn more about obtaining a financial planning insurance policy in the greater Denver, CO region, contact AFI Insurance to get started. 

Four steps to go through before purchasing commercial insurance

At AFI Insurance, we’re devoted to meeting the insurance needs of business owners in Denver, CO. We provide commercial insurance to area business owners.

It’s essential to go through a few key steps when you insure your company. Below are four steps to go through before purchasing commercial insurance. 

Assess the risks that your company faces.

Every company is unique. Your company faces its own unique financial risks, and you need to know what these risks are before you decide on the details of your commercial insurance policy.

Analyze the financial risks at your company. Consider what types of lawsuits your company could become involved in. You should also consider your company’s assets and what your company stands to lose in the event of an accident or liability issue. 

Decide what types of coverage you need for your company

Business owners should understand all the different types of coverage available before they buy a commercial insurance policy.

Learn about liability, business interruption, commercial property, commercial vehicle, workers’ compensation, and errors and omissions coverage before deciding which coverage types you need. 

Find commercial insurance providers in your area and request quotes

You need to explore your options before you make a selection. Determining which companies offer commercial insurance in your community would be best. You should then get in touch with these companies so that you can request quotes on policies. 

Choose a policy

Look at the quotes you receive and decide which offer provides you with the best coverage option. 

You need to get policy quotes from Denver, CO insurance providers before you buy commercial insurance. We’ll provide you with a quote when you contact us at AFI Insurance

Four of the most important things to know about life insurance

Consumers need to be well informed about life insurance. Life insurance is an essential product that secures the finances of your family members and loved ones. At AFI Insurance, we offer life insurance to Denver, CO consumers.

Here are four of the most important things you need to know about life insurance. 

Life insurance policies that accrue cash value are available.

Some consumers think that life insurance policies don’t increase in cash value over time and that the policyholder receives nothing if they don’t die before the policy term is over.

However, you can take out a universal or whole life insurance policy if you want your policy to accrue cash value over time. 

Life insurance helps to ensure your family’s future financial security.

The most important thing about life insurance is that it is essential to keep your family financially secure.

If your dependents rely on your financial support, you can purchase life insurance so your family will remain financially secure if you pass away. 

You don’t have to be married or have kids to benefit from life insurance.

While life insurance is most commonly purchased for financial security within a family, life insurance can also benefit business owners and anyone with any dependents. 

If you are an employer, life insurance can help support your employees or keep your business running if you pass away and can no longer run your company. 

It’s not necessary for your beneficiaries to pay tax on the death benefit of your policy.

Some consumers worry that life insurance won’t benefit their beneficiaries because they owe a lot in taxes. Fortunately, the death benefit on a life insurance policy is tax-exempt. 

Learn more about life insurance by calling us today. If you want to protect your family in Denver, CO, we can help you at AFI Insurance

Unexpected Things Home Insurance Covers

You probably know your homeowner’s policy covers your home and its contents. However, there are other things that you may not be aware are covered. At AFI Insurance in Denver, CO, we offer homeowner’s policies to meet your needs. 

1. Other Structures Coverage

Other structures coverage provides protection for structures on your property other than your home. If you have a shed, barn, or other type of building, this is covered in your homeowner’s policy. If it’s damaged or destroyed, your policy will cover the repair or replacement costs. 

2. Animal Bites and Injuries

If your pet bites someone on your property, this is covered under your personal liability coverage. It’s important to note that your policy may exclude some dog breeds, so check your policy. This part of your policy also covers other injuries, like slips and falls. 

If someone who doesn’t live with you gets injured, your policy will cover their medical expenses. 

3. Liability Lawsuits 

Your liability protection also covers lawsuits. If someone is injured at your home and sues you for damages, your homeowner’s policy will cover the settlement costs. 

If their personal property is damaged, this is also covered. 

4. Hotel Expenses

If your home is damaged and you need to live somewhere else temporarily, your policy will cover your living expenses until you can get back into your home. This typically includes hotel expenses or rent, as well as food costs. 

5. Meteorites 

Your homeowner’s policy should cover falling objects, including meteorites. While it’s unlikely that a space rock will damage your home, you have peace of mind that you are protected if it does. 

Homeowner’s Insurance with AFI Insurance

If you need homeowner’s insurance in Denver, CO, contact us at AFI Insurance. Our knowledgeable agents are here to help you choose the best policy for your needs. 

Different Types of Auto Insurance Coverage: What Do You Need?

You may be familiar with auto insurance and how it works. But did you know that there are different types of auto insurance? If you are searching for auto coverage, it is vital to know all the types to decide which one you need. Here is a brief review of several basic types: 

  • Liability insurance. If you cause a car accident, this coverage will pay for the other driver’s damages. It will cover everything, including injuries and even death. 
  • Collision coverage. It pays for the damage to your car if you are involved in a road accident with another vehicle. 
  • Comprehensive insurance. Usually, this coverage pays for damages to your car involving different situations besides road accidents. These situations may include severe weather events, vandalism, or accidents with animals on the road. 
  • Uninsured motorist coverage. Its purpose is to protect you and your vehicle against situations involving uninsured drivers. It pairs with underinsured motorist coverage. 
  • Underinsured motorist coverage. It may not be enough if you decide to carry the minimum liability insurance only. In most cases, liability insurance does not cover everything. That is where underinsured insurance comes in. It protects you if you are involved in an accident caused by a driver with minimum liability coverage. 

There are some other types of auto insurance that you may be interested in. You can always contact an insurance agent and ask them to tell you about all their insurance types. 

AFI Insurance in Denver, CO – We Will Help You Find the Ideal Coverage You Need

Are you a Denver, CO resident? Or do you live in any surrounding town in Colorado? Are you seeking a new auto insurance policy to protect your vehicle and yourself? At AFI Insurance, we know how to assist you. If you reach out to us, we will answer all of your questions and help you find the perfect policy. Please give us a call to learn more. 

Why Financial Planning Should Start With Insurance

Many Denver, CO residents think of insurance only as a means to plan for life’s worst-case scenarios. However, insurance can also be a safety net for your financial plan and, by extension, your future. Having the right policy at the right coverage limits can provide a base cushion for your finances, protecting you and your loved ones in case of unfortunate, unforeseen events. It may also help you reduce your tax burden and add some predictability. There are countless types of insurance plans on the market, so contact AFI Insurance today for help finding the right one for you!

How Insurance Can Influence Your Future Finances

One of the most significant and obvious advantages of having insurance policies is mitigating risk. For example, your family’s primary provider is out of work for an extended period or passes away. Having a disability or life insurance policy means you can continue making ends meet while adjusting to the loss of income without worrying about money. A well-planned insurance strategy can also provide several benefits come tax season. If you or your family receives a payout from an insurance policy, there are situations where that money is tax-free. Also, plans allow you to contribute money to your insurance policy and withdraw it later without paying tax.

Get Started Protecting Your Future Today With AFI Insurance

The world of insurance is vast. There are countless types of policies out there to choose from, making it all the more vital that you choose the one that’s right for you. That’s why we strive to help match individuals in Denver, CO with only the best plans from the top providers in the country. Contact our team today to learn more.

What Specialty Insurance Is and How It Works

Though you may not have heard the term “specialty insurance” before, you’ve likely encountered this type of policy. In the most basic sense, specialty insurance covers unique items that are likely not covered by a traditional insurance policy. Denver, CO residents need to understand all the options available, which is why the team here at AFI Insurance is taking a closer look at specialty insurance as a whole.

Things That Need Specialty Insurance Coverage

Generally speaking, a specialty insurance policy is designed to cover the cost of repairing or replacing rare/expensive items or events. Policies are available for leisure activities and travel, as well as boats, classic cars, motorcycles, snowmobiles, jet skis, and even pets. In short, if you want or need it to be insured, there’s a policy. These policies can often be customized to suit specific situations and are ideal for anyone that wants to protect themselves and their property.

To complicate matters, some of these items are required to be insured by law, which can vary from state to state and change as new laws are passed. The best way to ensure you have the right coverage for your items is to contact an experienced insurance agent. This allows you to not only compare different coverage types with ease but also helps you make sure you’re getting the best rate.

Considering Specialty Insurance? Contact AFI Insurance in Denver, CO Today!

When you need to insure items not covered–or inadequately covered–by traditional insurance plans, contact our team today! We’ll do the hard work for you, presenting you with the plans that most closely match your needs from the top providers in the country. Contact us today to learn more or to receive a quote!

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