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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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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Why Buying Insurance Online is A Bad Idea

June 24, 2011 by Leave a comment

It seems like very day, we see tons of TV ads for auto insurance companies. This either can involve a cartoon, a little lizard, or even a perky little brunette. All of them advertise how you can buy a policy online. They advertise how you can get discounts for buying online. They advertise it like gold and glitter. In this blog, I am gonna go past all the excitement about buying a policy online, and actually tell you why its a bad idea.

  • The information they ask can be very hard to understand. Most of the time consumers enter in information incorrectly, which will give you an inaccurate quote.
  • Most companies, shows the lowest price. This usually means the lowest coverages.
  • Most quotes you get off the internet, are the bare minimum liability coverages. This is bad, because if you get in a bad enough accident, you personal assets could be at stake.
  • Most companies don’t include coverages such as uninsured motorists property damage, and also uninsured or under insured motorists coverage. With a lot of drivers uninsured or under insured, this coverage is a must.
  • If you have a newer car and has a lien or lease on it and its needs comp and collision coverage, a computer can’t understand this.
  • An online quoting system might not know if towing and rental car reimbursement is something you should or shouldn’t have on your policy.
  • Most consumers don’t understand what some coverages mean and what it does. When a consumer doesn’t understand a coverage, they don’t buy it. This could be costly, because a consumer might need it.

I could continue on with many points, but in conclusion, a computer can’t think, and counsel you into the right policy. Only a human can. When it comes to insurance, every person is different in needs. Only an experienced  broker like us, can give you advice and steer you in the right direction. A computer can’t give you advice on how much coverage you should buy, if its ideal to carry a 1000 dollar deductible or a 500 dollar deductible. It can”t answer questions such as, what if I drive my friends car, will my policy follow me to that policy?

Please feel free to leave a comment. We can write insurance in 45 states.

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Understanding An Indirect Loss On An Insurance Policy

June 22, 2011 by Leave a comment

When a loss occurs, and a claim is filed, the is more underneath the problem than first understood. That loss could be a pipe breaking in your house, a fire in the kitchen or any other type of occurrence. During this time all that is on the policyholders mind, is the loss at hand. But there is another loss creeping up on them, most of the time realizing it at the last second.  This is known as an indirect loss.

What is an indirect loss?

An indirect loss is a loss that occurs because of another loss.  It is an underlying loss that takes place because of a larger loss.   On a homeowners, loss of use of a home would be an indirect loss.    An example of this is, Johnny’s house catches on fire, because of the smoke, Johnny cannot stay in the house.  Johnny has to rent a hotel room because of the smoke in his home.  This is an indirect loss.

An example on an auto insurance policy is when Judy crashes her car and has to have it repaired.  She rents an auto to use while her car is being repaired because she doesn’t have a car to drive back and forth to work.   The expense of the rental car is an indirect loss.

An example of an indirect loss for a business is lack of business income.  Because of a loss, the business can no longer gain income and therefore profits are hurt.

In conclusion, an indirect loss comes from a bigger loss.

 

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Seasonal Property Insurance

June 22, 2011 by Leave a comment

If you live in more than one location, you should have your properties covered for any type of unexpected loss.  For example if you have a home in Colorado and one in Florida, both homes should be covered fully for all unexpected events.  There are many reasons for setting up insurance on your seasonal property which is a DP-3. 

A Seasonal Property is set up on a DP-3 which is a Special Form where the dwelling and other structures are covered for all direct physical damage (open peril), except for perils specifically excluded.  Theft of property that is part of the dwelling or other structures is covered as long as the dwelling or other structures are not under construction. 

Personal property or contents are covered under Form (DP-3) perils.  Losses to the dwelling and other structures are paid on a replacement cost basis, and losses to contents are paid on an actual cash basis to the insured.

Don’t let an unexpected event ruin your financial situation.

Call us at Denvers Insurance for a quote contact us. We will research and find the best rate for you.

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Personal Articles Floater(PAF), Insuring Individual Valuble Items

June 21, 2011 by Leave a comment

A Lot of us when setting up homeowners insurance, forget a very important item on our policies. Personal article floater insurance. A lot of us have very valuable items, that we don’t insure. One of these very obvious items is mostly you or your spouses wedding ring.

In this blog, I am going to cover what a personal article floater insurance policy is, and why you might be cutting yourself by not insuring something important.

 

What is a personal article floater?

Since valuable things such as jewelry are limited on the amount of coverage a home owners policy’s will cover, the industry offers this policy. The industry offers policies for jewelery, guns, coins, stamps, golf clubs camera’s and other items. This all depends on what the insurance company offers. The policy insures the individual item. Both the insured and insurer agree on insuring at a certain amount. An appraisal or some sort of proof of value is required. Sometimes a deductilbe does apply, at usually a very low level.  The most common personal article floater policies are for jewelry, mostly wedding rings.

Is this policy idealistic for me?

This all depends on the client. If you have a valuable wedding ring worth 50 thousand dollars, yes you should insure it. That alone is a small investment and fortune. Sometimes people decide its idealistic to self insure. I know a couple of gun collectors who don’t insure there guns. Th reason is so much cost over time. Sometimes you are better off getting a really good safe, and locking up your valuables in there, or even getting a safety deposit box.

 

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Ordinance And Law Coverage On A Home Owners Insurance Policy

June 20, 2011 by Leave a comment

home-insurance-homeowners-condo-insuranceHaving an older home or property, is almost sometimes like owning a beautiful antique. This could be your primary dwelling, seasonal property, rental condo or home. As newer homes are being built, your house keeps its individuality.  As we know, new code laws are either being updated or made to help try to improve, energy, safety, and other purposes. As a homeowner with your old house, this doesn’t effect you, because its most likely grand fathered in. Or Does it?

Most of the time it doesn’t effect the average homeowner. But when it comes to the possibility of a  insurance loss on your home or property, everyone can become vulnerable to new code laws. The chances are the older your home or structure, the less compliant they are with current codes. In the event of a total or partial loss of your property, for example due to a fire, when it is re-built it has to be compliant with all new county, city, city, state, federal and association codes.

This will cover you three ways:

  1. Loss to undamaged part of building or dwelling. (Example: The part of the undamaged building has to be demolished and rebuilt due to code.)
  2. Increased Demolition Cost: (Due to having to demolish and undamaged part of the building or dwelling)
  3. Increased Cost Of Construction. (Due to higher cost for compliance for new law codes)

Coverage is usually built in at, %10 of the structure/dwelling insurance amount. This can be increased with an endorsement or when a policy is started.

If you have any questions about your current policy, please contact us.

Feel free to leave a comment.

 

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What Type Of Insurance Policy Do I Need For A Rental Property?

June 13, 2011 by 1 Comment

Rental property’s can provide great residual incomes, and right now with the rental market in demand, a lot of people are putting their house’s up for rent or buying investment properties. Before you do this, your insurance policy must be written correctly, or else you could have some major gaps in coverage.

First of all lest highlight some of the most common types of properties.

  • Apartment Building
  • Condo
  • Dwelling

Apartment Building Insurance

This policy is designed for a building that houses multiple units, usually more than 3.  The policy includes building coverage, a general liability, business personal property coverage, loss of use, crime coverage and more.  This policy is strictly designed for apartments.

We usually write these policies through Travelers, Philadelphia or Middle Oak.

Landlord Condo Insurance

This policy is built for someone who owns a condominium and rents it out. It includes interior dwelling coverage, loss of rent, medical payments, and landlord liability. You can add things such as extended liability coverage, and loss assessment. This policy is usually written under Dwelling Fire Policy Form 8.

Landlord Dwelling Insurance

Investment houses are either written under a DP-1 or a DP-3. Or known as a dwelling fire policy. Most policies are written under a dp-3, because it gives you replacement cost coverage on the dwelling, which is better than the dp-1 actual cash value coverage on a dwelling. Always make sure you have the following coverages on your dwelling rental property.

  • replacement cost on dwelling(dp-3)
  • extended dwelling coverage, at least 120 percent
  • landlord business property(stove top, dishwasher, fridge, washer dryer, etc)
  • other structure coverage
  • loss of use, for at least 12 months
  • landlord liability
  • sewer back up
  • Ordinance & Code Coverage

If you have any questions or want a quote contact us.

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What Is A Personal Umbrella Liability Insurance Policy?

June 8, 2011 by Leave a comment

When watching television we see lots of lawsuits taking place which could even involve you.  These lawsuits and advertisements thereof,  pay for a lot of airtime.  You have “Henry the Hammer” telling you how much money you can get for your car accident.  Unfortunately, you have a ton of frivolous lawsuits that are going against the insurance companies at which at the end,  drives up the premium for your vehicle insurance.  Unfortunately, it is the attorneys making the most money from this.  It is not the victim that wins, it is the attorney that wins.  This is why if you have assets, your life savings, money in bank, properties, you have to make sure you are protecting yourself from these attorneys because they will go after these assets.

Let us explain how an umbrella works.  First of all, umbrellas are purchased in increments of one million.  Our agency can sell a ten million dollar umbrella, but the average is one million.  Umbrellas protect you above and beyond your auto and home insurance liability.  Do keep in mind to qualify for an umbrella, you have to maintain certain underlying limits.  The United States average for these requirements is $250,000 per person, $500,00o for the total accident, and $100,000 for property damage for auto insurance liability.  For home insurance liability, it is a $300,000 minimum, this can include your renters, homeowners, landlord, or investment property.

Examples of how an umbrella will work:

1.  An auto insurance example:  you get into an at fault accident and there is one person in the car.  That person sues you managing to get a $500,000 judgement against you including fees.  At this point your limits have been exhausted on your auto insurance policy.  But you have wisely purchased an umbrella, so the one million dollars is more than enough to cover the judgement.  If you had not purchased an umbrella, your personal assets and estate would be jeopardized.

2.  A Homeowners example:  someone comes to your home and visits, slips and falls and sues you for $700,000 including fees.  That person wins and your $300,000 homeowners policy limits are exhausted.  Again, since you have purchased an umbrella, you are protected because you have at least one million to cover the judgement.

DO I NEED AN UMBRELLA?

A simple answer is, if you have money in the bank, own stocks, are a CEO, an athlete, a business owner or make an average income, you need one.  One easy way to figure this out, “how well established in life am I right now?”  You need one, but if you are a college student and don’t have a penny in the bank, you don’t need one.  A college student is usually lucky just to buy an auto policy covering the mandatory legal liability limits.

How much is an Umbrella?

The average price of an umbrella is $260.00 per year at our agency which includes two vehicles and one home.

Our Companies Claims Process Is Excellent

We only write insurance with companies that have an excellent claims process. A claim can be complicated, but our companies will treat you fair and keep the process as simple as possible.

Personalized Service

Our agency is family based and understands insurance. You will work one-one-one with an experienced agent who will find a policy that best fits your business needs. We believe in “good old-fashioned customer service”.

Get A Free Umbrella Insurance Quote!

We offer up to 6 personal lines companies for umbrella insurance. To get a insurance quote, please use our quick form, or contact us during normal business hours at (888)-270-0995. We will counsel you into how to receive the best price, for the most coverage. We will also advise on how to maximize discounts.

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So What is an HO-5 Policy?

June 7, 2011 by Leave a comment

When you are purchasing a Condominium, you need an HO-5 form.  This form is designed with the Condo in mind.  It provides open peril coverage on personal property and contents of the insured, in addition to open peril coverage on the dwelling and other structures.

Losses to personal property and contents are paid on an actual cash basis and losses to the dwelling are paid on a replacement cost basis.

Find out more by contacting Denvers Insurance and speak to one of our Insurance Agents.

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