Are You Prepared For A Loss?

September 21, 2011 by Leave a comment

So much of the time we are more concerned about how much our monthly premium is than what we have to pay in a deductible should we have a loss.  We margin our deductible at a level in order to make our insurance premium comfortable, thus, in the time of a loss, we are not prepared to make the deductible payment.

For example, Susie has a business that is a high-end clothing store.  She has taken out business insurance to cover her investment but has set her deductible at a high level because she wants to keep her premium low.  When the time comes when Susie does suffer a loss, she is not prepared to pay the $10,000 deductible that she has requested on her insurance policy.

We need to prepare ourselves by saving money each week so we are can make the deductible payment should we experience a loss.  Isn’t that what insurance is really about, taking care of the loss when we actually have one?  So, put the money aside, and take care of yourself,  your business, your home and family by always having enough money to cover your deductibles on your insurance policy.

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Colorado earthquakes and your Home Insurance

September 17, 2011 by Leave a comment

Recently in Colorado, we have been getting a lot more seismic activity. It seems like we have been getting a lot more earthquakes lately. So what does this mean for your homeowners insurance? Lets first take a look at recent incidents.

Latest notable earthquake activity

-Sept 16, 2011, located below the Colorado border.  3.8 magnitude.

-Sept 12th, 2011, location near Craig Colorado. 3.7 magnitude.

-Sept 11th, 2011, location near Kiowa Colorado. 3.9 magnitude.

-Aug 22, 2011, 9 miles outside of Trinidad, 5.3 magnitude.

Other notable older earthquakes

-1967, near Denver, Colorado. 5.3 magnitude.

-1973, northwest corner of Colorado, 5.7 magnitude.

Largest Earthquake in Colorado History

In 1882 the state experienced its largest earthquake, which occurred in now what is Rocky Mountain National Park. It read a 6.5 on the Rictor scale. By far the biggest earthquake in Colorado history.

What does this mean for your Homeowners insurance?

A standard homeowners insurance policy does not cover earthquakes. You must by a separate insurance policy, known as earthquake insurance. This policy would provide coverage for your dwelling and contents, if an earthquake were ever to occur.

Should I buy earthquake insurance with all this seismic activity lately in Colorado?

Event though we have had a lot of activity lately, I don’t think people should be out panicking about this. I believe by looking at the plates, the chances of a big enough earthquake to come along, in a high populated area is very unlikely.  My professional opinion is that buying earthquake insurance at this time is most likely unnecessary.  We have never had an earthquake that has caused a significant amount of property damage or has hurt or killed anyone in our Colorado history. This is something that could change down the road, depending on what happens.

If you are interested in purchasing Earthquake insurance, and feel there is a need for it, please contact us during or normal business hours.

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TAKE IT TO THE TOP

September 6, 2011 by Leave a comment

In today’s economy, we all need to “take it to the top”.  In the insurance business this could mean to insure all of your valuables in a well-written and comprehensive policy.  If you have valuable furs, precious jewels, diamonds, coins, or valuable stones, they need to be insured for market value or stated value.

As the insured, you should have endorsements and individual floaters to cover all of your valuables.  Don’t be afraid to “take it to the top” in adding coverage, even if it means increasing your premium.  You will be money ahead.  Let your insurance agent assist you in developing a policy that provides the right coverage for you.

Allow your insurance agent “take it to the top” in giving you the service and insurance you deserve.  We at Denvers Insurance do just that.  Let us give you a quote that will be reasonable and yet allow the proper coverage. 

Karen W. Schneider

Denvers Insurance LLC and the Ahbe Group

2833 South Colorado Blvd.

Denver, Colorado  80222

(303) 219-4985

 

 

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Get A Quote From Us!

August 25, 2011 by Leave a comment

We are a full service national insurance agency. We are also locally owned and family operated. We are insurance brokers and independent agents, who have the comprehensive resources to put together policies with the best coverage at the lowest cost. So call today. We can give you a quote on just about all your insurance needs. We also started in 2007 and have been growing through this recession thanks to great clients and neighbors in the Colorado area. Be apart of our family today!

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What does the First Named Insured Mean?

June 28, 2011 by Leave a comment

Unless you are in the insurance business or are really an educated business person or professional, first named insured probably is meaningless to you.  Well it is very basic, but the first named insured is the the person, firm, or organization specifically designated by name on the Declarations Page of the policy.  The First Named insured is the key person and the primary individual with changes to a policy or when a decision is made.  In Commercial Lines insurance, the First Named Insured has certain rights and duties that do not apply to any other named insureds.

Any rights are designated to the First Named Insured such as the right to cancel, increase the premium, decrease the premium, change the policy, the right to receive any return of premiums.   The duty to make the premium payments in a timely manner are all up to the First Named Insured.

Contact Denvers Insurance with any questions, hppt://denversinsurance.com, or call 303-219-4985.

 

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What about you, have you had problems with personal slander or copyrighting an idea?

June 28, 2011 by Leave a comment

Most businesses advertise their products in order to make the sales they need for continuation.  But when advertising and when copyrighting a product, one must be careful to insure against another business intruding on your territory.  This could be considered an advertising injury which will be discussed below.

There is also the problem of libel and slander against a person which is called personal injury. There exists in the insurance business an Insuring Agreement where a policy provides protection for liability arising out of offenses such as libel and slander which is a personal injury.  A personal injury as distinguished from bodily injury includes false arrest, detention, imprisonment, malicious prosecution, wrongful entry, eviction, or invasion of privacy.

Advertising injury includes using advertising ideas in the wrong way or a style of business, infringement of another’s copyright, title, or slogan in the insured’s advertisement;  violation of privacy, as well as libel or slander.  The coverage of personal and advertising injury does not include the wrongful pricing of goods, or services;  insureds in the media, or as an internet search, access, content, or service provider;  and loss arising out of an electronic chatroom or bulletin boards the insured hosts or owns.

So to protect yourself, especially if you are a Professional, make sure you have a Personal and Advertising Injury policy set up an in insuring agreement.  This would be considered a Commercial General Liability coverage.

Contact us at Denvers Insurance (303) 219-4985 for more information and to ask any questions you may have.  We enjoy helping you.

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Did You Hire An Employee Or An Independent Contractor

June 28, 2011 by Leave a comment

Before you go out and hire an independent contractor, or give the next 10-99 to your contractor, there are some things you need to know. Because that person might be an employee not an independent contractor. In this blog I am going to explain what the difference is. This is very important, because the last thing you need is government agency bullying you, and fining you.

What is an employee?

An employee is one who is scheduled specific hours by the employer and is required to work those hours.    This person  is eligible under certain requirements to benefits as designated by the employer.  An employee is eligible for sick leave, medical insurance, dental insurance, and 401Ks etc. through the employer.  An employee is also eligible for Workman’s Compensation if such need should arise.  The employer will pay the employee’s income taxes such as social security and state taxes.  Usually an employee is paid a salary or by the hour.

What is an independent contractor?

An independent contractor is one who works for an individual or company but is not scheduled or required to work certain hours.  An independent contractor is totally independent as to his or her work schedule and does not receive any form of benefits from the employer.  There is no Workman’s Compensation, no medical insurance, no dental or 401K eligibility.  An independent contractor is responsible for paying his or her own taxes such as social security and state taxes.  The most common form of compensation for the independent contractor is being paid by the job.

 

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Loss Of Business Income Insurance Coverage

June 27, 2011 by Leave a comment

In the event of a large loss, it is most likely a business will not be able to do daily operations. Sometimes a business is shut down due to a claim. This can be a couple of days, of even sometimes up to a year. Sometimes a loss can result from another loss. This is called an indirect loss. Such indirect loss could be losing business income from a big loss.  Since your business can no longer operate, it is only natural for this to happen.

What is business income loss insurance?

This coverage supplements your business income from an indirect loss, when a direct loss occurs and effects your revenue. This coverage is usually good for up to 12 months of lost income. Business income can be considered any type of revenue from daily operations. The insurance company has to indemnify all losses, but no profit can be gained from the insurance company. This unless it is apart of daily operations income.

Why is this so important to have on my insurance policy?

Incidents that result in business losses, can be unforeseen. If your operations are stopped due to an insurance loss, it is a must you  protect the businesses income. This simply can be done, by buying a business owners policy, that has loss of business income, included in it. Always make sure that this coverage is good for 1 full year.

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Renting A Car? Things You Need To Know About Insurance Before You Do

June 26, 2011 by Leave a comment

I get a lot of questions in my agency, when it comes to renting a car. In this blog I am going to cover what you need to know about insurance, before renting a car. I am going to use a Q & A format, to clear up questions.

  • Will my insurance, follow me to the rental car?

Yes it will, if you already have insurance, you don’t need to buy the rental car insurance. There are coverages you need to make sure you have before doing this. If you have just liability, you need to make a temporary endorsement, and add physical damage coverage. If you don’t have insurance and don’t have a regular car, it is probably best to buy their insurance.

  • What coverages do I need for the rental car.

All rental car rental places will require you to have, state required auto liability insurance, and also physical damage coverage. Most rental car outlets, will require you to carry no higher than a 1000 dollar deductible for both Comprehensive and Collison. If the car gets in an accident, you will be responsible for the deductible.

  • Is there anything else I need to know?

If your rental car is an accident, the rental car place, could technically go after you for loss of use. The loss of use is either while the car is getting replaced or repaired. At this time the car is not operable, and the rental car place can’t rent it out. So technically they can go after you for loss of use. Sometimes your car insurance company will include this in there policies. But some don’t. It is best to check your policy for this. Some credit card companies give you this coverage free, as long as you use the credit card, to rent the car.

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Negligent Fire Works On 4th July Fires Up Millions In Property Damage And Bodily Injury Each Year

June 25, 2011 by 1 Comment

Independence Day is one of my most favorite days of the year. We celebrate our great Country. We get together with friends and family, enjoy that out doors and bar-b-que. We enjoy the All Star GAme on TV, and sit back relax and drink beer. But there is one thing we all forget. The fact that millions of dollars of property damage and bodily injury occurs each year due to fire works.

According Rocky Mountain Insurance Information , In 2009, fireworks started an estimated 18,000 reported fires, including 1,300 structure fires, 400 car fires, and 16,300 outside and other fires. These fires resulted in one death, 30 injuries and $38 million in property damage (National Fire Protection Association latest data).

On the 4th of July, there are more reported fires then any other day. This makes it difficult for fire and police departments, to respond to emergencies.

Our advice at Denvers Insurance Agency and The Ahbe Group is to leave it up to the professional’s. Keep in mind that the most commonly injured person from fire works, are young children, usually from a sparkler. Sparklers can burn up to 1200 degrees.

Our advice for the fourth of July is to be safe, and leave the fireworks to the pros. Here is a list in Colorado of upcoming fire work displays for 2011, courtesy, The Denver Channel.

 

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