Life insurance is an important resource that everyone needs to evaluate at different points throughout their lifetime. When you need it, life insurance can help you payoff funeral expenses, accumulated debts, or estate taxes after you pass away, but when you don’t need it, you can end up paying expensive premiums for unnecessary coverage. Let’s answer the important question when do you need life insurance as well as cover the three main types of policies available.
Over the past few years, homeowner insurance claims have been on a steady rise, and this isn’t good news for your homeowners insurance premium. Much of the rise in claims has been attributed to catastrophic events like storms and forest fires, and looking back at the past few years in Colorado, this shouldn’t come as much of a surprise. But you’re not powerless in the wake of these rising claims, and you certainly shouldn’t just cross your fingers and hope you don’t become part of the trend. Let’s dig a little deeper into why claims are rising in Colorado as well as examine ways you can help keep your homeowners premium low.
It may not seem like it when you get on the expressway during rush hour, but the number of drivers and auto owners is down, something that hasn’t happened for a very long time. The reason rests primarily with drivers 35 and under, or millennials as some call them, and the fact that they are driving less or deciding not to drive altogether. Let’s examine the reasons why younger generations are driving less, why they might still need auto insurance, and the low mileage insurance options that Square State offers to help reduce costs for those who don’t drive very often.
When you’re a homeowner, there are a lot of unforeseen hazards that you need to prepare for like fires, storms, and accidents around the house. In response, you select a homeowners policy from an insurance company you can trust, and then you can rest easy knowing you’re covered against almost every catastrophe…right? The fact is there is a regular force of nature that only about 20% of homes at risk in America are insured against. This seasonal occurrence is flood damage, and whether it comes as a flash flood or as a slow creeping flood, this is an event could be financially crippling for those who aren’t prepared.
Do you work for a ride-sharing company like Uber or Lyft? If so, then you need to call your insurance agent before you consider taking another fare. You may have thought that some combination of your personal auto insurance and your ride-sharing company’s insurance had you completely covered, but the fact of the matter is that neither insurance can fully insure you from every claim you might encounter. While some states are working on legislation to bridge this gap, Colorado has not passed any measures yet, and you need to address this problem yourself. But don’t panic. Let’s examine this gap in coverage and how you can protect yourself from this little known insurance technicality.
Today we’re going to examine the often overlooked option of umbrella insurance. You already have coverage to protect yourself from circumstances where you’re liable in a car accident or homeowners claim, and that is all the insurance you’re going to ever need, right? Well not so fast, it isn’t always an open and shut case when you’re liable, and we all know insurance policies only cover up to a certain limit or payout. So what happens if the payout for your insurance policy is maxed out but your case or claim isn’t completely settled? The worst case scenario is you could be heading towards financial ruin, but that can be avoided if you look into the extra safety net that umbrella insurance provides. Let’s examine the ins and outs of this often overlooked but increasingly important coverage.
While most people would never dream of owning a home without insuring it, countless renters pay no mind to renters insurance every year while living as a tenant in a building they don’t own. Yet everyone owns valuable things, and everyone is most certainly in need of the protection that renters coverage provides. So why is it that so many choose to skip renters insurance? Is it the cost? Do they believe that their landlord’s insurance will protect them in the event of a calamity like fire or severe weather? Let’s examine exactly why you can’t afford not to have renters insurance.
A traffic stop almost always catches you off guard. Now you’re pulled over with an expired auto insurance card, and the officer walking up to your window is about to ask to see it alongside your driver’s license. What do you do? Are you stuck with that pricy ticket? Well no, you’re not necessarily going to pull away from the curb with a ticket, but you will have to be polite, and you’re going to need a smart phone. Let’s examine what to do if you’re in this situation.
The most talked about Insurance Tip my clients talk about has nothing to do with auto insurance. The tip is that a number of Colorado DMV’s will let you call ahead to “schedule an appointment.” This is not your typical appointment but after you one, you show up you are usually the next number called. My clients rave about this car insurance tip and the time it saves them at the DMV. Here is a list of phone numbers for some Denver County Department of Motor Vehicles: