What Should I Do If I Have A Claim Under My Commercial Insurance Policy?

If you are a business owner, it’s important to know what to do if you have a claim under your commercial insurance policy. Commercial insurance policies can be complex, and it is vital to understand your rights and obligations in the event of a claim. In this article, we’ll discuss the steps that you should take if you have a claim under your commercial insurance policy.

1. Contact Your Insurance Agent or Broker

If you have a claim in Centennial, CO, the first thing that you should do is contact your insurance agent or broker. They will be able to help you navigate the claims process and ensure that you are taking the proper steps.

If you don’t have an agent or broker, you should contact the insurance company directly. Be sure to have your policy information handy when you call; they’ll need this to process your claim.

2. Notify the Insurer

Once you have contacted your agent or broker, they’ll notify the insurance company on your behalf. The insurer will then assign a claims adjuster to your case. The adjuster’s job is to investigate the claim and determine how much the insurance company should pay.

If you are dealing with the insurance company directly, you’ll need to notify them of the claim as soon as possible. You can do this by calling the claims department or filing a claim online. A reputable company such as Compass Insurance will promptly help you with the issue.

3. Cooperate With the Claims Adjuster

It’s crucial to cooperate with the claims adjuster throughout the process. They’ll need to gather information from you to assess the claim. This may include getting a statement from you about what happened and gathering documentation such as police reports or medical records.

The claims adjuster will also likely need to inspect the damaged property. This is to determine the extent of the damage and how much it will cost to repair.

Conclusion

If you have a claim under your commercial insurance policy, the best thing to do is to contact your insurance company or agent as soon as possible. They’ll be able to help you through the process and make sure that everything is handled correctly. If you have any questions, contact Compass Insurance. We’ll be more than happy to help.

Why is auto insurance a necessity in Colorado?

Those that live in the Centennial, CO, and Denver area have likely seen dramatic growth and changes over the past decade. When you are living in this area, you will find that owning a car is a necessity. Along with owning a car, you also need to get insurance for your car. There are various reasons why having auto coverage should be considered necessary for any vehicle owner in this part of the state. 

Meet State Requirements

A critical reason that anyone in this state will want auto insurance is so they can meet requirements set by the state. If you purchase a car and drive it in Colorado, you will have to carry liability insurance at all times. This insurance provides assurances that you can cover damages that may be caused in an accident. Without this coverage, you would violate the law and could be penalized. 

Protect Your Vehicle

It is also a necessity to get auto insurance to ensure that you can protect your vehicle. If you intend to purchase a car, it will take a sizable investment, and protecting it for the future is quite important. A full auto insurance plan with comprehensive coverage will provide ample support to ensure you can repair or replace it if a loss is incurred. 

You always need to know that you are insured when you own a car in Centennial, CO. If you want to insure your vehicle, choosing the right coverage is important. The team with Compass Insurance will offer any guidance necessary to build your plan. Compass Insurance takes a customized approach to insurance and will ensure you are aware of your needs and options to build the right policy. 

How Renovations Impact Home Insurance

Compass Insurance provides coverage to the Centennial, CO community. For over 15 years, we have helped our clients find the policies they need to protect their assets. We work with multiple carriers throughout the area. This helps us provide flexible policies that adapt as our client’s needs change. We look forward to assisting you.

How Renovations Impact Home Insurance

Owning a home is a great achievement. However, it’s important that you protect one of your most prized possessions. Home insurance covers interior and exterior property damage. All of your personal items are covered if you are a victim of theft or if your property is damaged in a fire. Liability insurance is another significant part of your policy. You are covered if a guest visits your home and suffers an injury or if you accidentally damage someone’s property. You can add extra coverage to protect accessories such as your patio. 

Perhaps you are making plans to renovate your Centennial, CO residence. Maybe you want to increase the value of your home or make it more energy-efficient. You will have to alter your home insurance. Once you renovate your home that may change the repairs regarding possible interior or exterior damage in the future. You can amend your policy to cover any materials that are damaged during the process. Foundation coverage protects your home if the basement suffers damage during the renovation process. If you are making extensive changes, add alternative living coverage. Alternative living coverage protects you as you seek a temporary place to stay until your home is repaired.

Compass Insurance Will Help You Protect Your Asset

Visit our website to learn more information about home insurance.

Making the Most Of Recreational Toy Ownership

Recreational vehicles such as four-wheelers, jet skis, dirt bikes and more, are a great way to have fun and enjoy time with friends and family. In order to make the most of your ownership though, you will want to make sure you are making smart choices. At Compass Insurance serving Centennial, CO, we want to help our clients make the best decisions concerning their recreational toys and insurance. Keep reading to learn more.

Stay Insured

Even if you live in an area that does not require insurance on recreational vehicles and toys, it is always a smart investment to keep these items covered. Recreational vehicles do carry with them certain risk factors. Accidents can happen involving you, anyone you allow to use the vehicle, and others. These types of accidents can result in costly repairs, medical bills, and even legal fees if someone is hurt because of your vehicle. In order to protect yourself from these types of expenses, you will want to have sufficient insurance in place. 

Practice Good Safety

Even though your recreational toys are for fun, it is very important that you and all people using vehicles are trained on how to use them safely. You should invest in a safety course for your particular recreational toy and then make sure you pass on safety guidelines to anyone you allow to use the vehicle. 

If you would like to learn more about recreational toy insurance or any of our other insurance services, please contact us at Compass Insurance, serving Centennial, CO and the surrounding areas. We will be happy to answer your insurance questions today. 

Top 3 Safety Tips for Bikers

Bike ownership can be a lot of fun, but in order to make the most of the motorcycle experience, you also want to practice the best safety habits. At Compass Insurance serving Centennial, CO and the surrounding areas, we want to help clients make the most of motorcycle ownership. Keep reading to learn the top 3 safety tips for bikers. 

Keep A Check on Weather 

Driving a motorcycle is vastly different from driving a regular vehicle. Because you are exposed to the elements while riding, it is imperative that you always check the weather before heading out. You should also plan for weather changes as the day progresses. Even if the weather is going to be great in the morning, you don’t want to get caught by bad weather later in the day. Driving in less than ideal weather conditions can greatly increase your chances of an accident. 

Maintain a Safe Distance 

Because a motorcycle is so much smaller than a regular vehicle, there is often a temptation to move into small spaces while riding in traffic. You should always keep a safe distance from other vehicles. Maintaining a safe distance increases your reaction time and thus decreases the chances of a serious accident. 

Always Wear The Appropriate Gear

Motorcycle gear is designed to protect you while riding. Helmets, riding pants, and other bike gear can greatly decrease your chances of severe injuries in the event that you are in an accident. 

If you would like to learn about motorcycle insurance or any of our other insurance products, please contact us at Compass Insurance serving Centennial, CO and the surrounding areas.  

Top 3 Safety Tips for Boat Owners

Boat ownership can bring a lot of joy and excitement to your life. Understanding how to operate your boat in the safest way possible will ensure that you always get the most out of your boat ownership. At Compass Insurance serving Centennial, CO and the surrounding areas, we make it our aim to provide our clients and future clients with solid safety information so that they can make good choices with their boats and watercraft. Keep reading to learn the top 3 safety tips for boat owners. 

Take a Boating Course

Although taking a boating course is not required in most places in order to operate a boat, it is still a great way to increase the safety of your boat and decrease the risk of accidents and injuries. Some boat insurance policies also offer discounts for those who have completed a safety course. 

Insist on Life Jackets

It is imperative that you insist that life jackets be used by anyone using or visiting your boat if they are not strong swimmers. Remember, if you are the boat owner, then the burden of responsibility falls on you for the safety of anyone on your boat. The best policy is to always have life jackets available for all passengers. 

Stay Fully Insured

Even if you are operating your boat in an area that does not require boat insurance, keeping yourself insured protects you from many financial dangers. If someone is injured on your boat or because of your boat, you could be held liable. Insurance will protect you from this. 

If you would like to learn more about boat insurance, or any of our other insurance services, please contact us at Compass Insurance serving Centennial, CO and the surrounding areas. 

Do all Centennial businesses need commercial insurance?

Those that are in the Centennial, CO area will find it is a good area to start a business. With the growth in the entire area and a strong economy, there is a lot of opportunities available. When you do start a company here, it is increasingly important that you get the right insurance for it. There are various reasons why a business in this area of Colorado will need to have commercial coverage. 

Coverage is Needed to Comply with Requirements

One of the reasons a business in this area of Colorado may need to get commercial insurance is that it is a requirement in order for them to comply with various insurance requirements. When you are going to start a business, you are bound to need financing, raise capital, and lease a place of business. Further, you will need to enter into various vendor and customer contracts. In many of these agreements, the other party will require that you carry proper commercial insurance to protect your organization.

Needed to Receive Valuable Support

A key reason that you should get a commercial insurance plan is so you can receive valuable support for your organization. A proper commercial insurance plan today will provide you with coverage for all of your core business assets and offer liability insurance support. These plans ultimately will help to protect your organization and can keep you solvent in some difficult cases.

There are a lot of reasons to get commercial insurance in the Centennial, CO area. As you are looking for a new plan here, calling Compass Insurance to start the process can be a good option. There are many factors to consider when you are looking for insurance support and Compass Insurance will offer any guidance you need to choose and build an ideal plan. 

What Is Covered With Homeowners Insurance?

Everyone knows that, when they buy a home, they need to get homeowners’ insurance. However, they may not know what all is covered. Though there are different plans, which cover different things, there are some things that are covered with standard homeowners’ insurance. 

Here are some things that should be covered by your homeowners’ insurance policy. 

Damage to your home due to fire and smoke. Fires can really damage a home, along with the smoke that occurs afterward.  

Damage from storms. Most homeowners’ insurance policies cover damage from a range of storms, including winter storms, ice, thunderstorms, and even tornados. It should even cover any damage that may occur due to the buildup of snow and ice. 

Roof damage. Though damage to your roof may not seem significant, the damage could be quite extensive. Not only is water leaking in your roof, but it may also damage the ceilings, walls, and floors throughout your home. Mold is often common and can be quite expensive to fix. 

Plumbing problems. If you have frozen pipes and other water damage due to pipes bursting, it should be covered. 

Damage caused by other people. Homeowners’ insurance also covers theft, along with damage caused by vandalism. It will cover the cost of your belongings, up to a certain point. 

Your homeowners’ insurance will cover a range of damage that may occur, from natural disasters, fire, and even vandalism. It will also cover damage that occurs due to plumbing and electrical issues. 

If you want to make sure that your home is covered in case anything happens, you need to speak with a professional insurance company. Here at Compass Insurance in Centennial, CO, we would be happy to find you the right coverage for you and your family. 

Terms to Know When You Read Auto Insurance Documents

If you struggle to understand your auto insurance policy documents, you are not alone. Many people have difficulty understanding some of the terms commonly used in policy documents.

Do you want to understand your policy documents? Compass Insurance knows the difficulty of remembering some of these terms associated with your Centennial, CO insurance policy. Here are the terms you should know.

Declarations Page

One of the first terms you might see is the "declaration page." This is the document on which the insurance company will discuss all the coverage you have opted into. When you read this page, you will learn more about deductions, drivers on your policy, and coverage levels.

Policies & Coverage

On your declarations page, you will see several types of coverage options. One is liability coverage, which pays bills and repairs if you are decidedly at fault for the accident. Then, there is comprehensive insurance, which covers damage to your vehicle caused by something besides a car accident.

Minimum Coverage

Minimum coverage is the state requirement for insurance coverage in your region. For example, most states have minimum requirements for liability coverage, which will cover damage that you cause to other vehicles. In Colorado, you are required to carry $25,000 for bodily injury or death caused to one person and $50,000 for injury to everybody in any single accident.

Actual Cash Value

Actual cash value, or ACV, refers to the cash value you will receive if a collision or comprehensive policy pays out. This value could be less than the value of your vehicle.

Learn More About Auto Insurance Documents

Are you ready to learn more about your insurance documents? Compass Insurance can help you find the right auto insurance policy in Centennial, CO. Contact our team to learn more.

Should all people in Colorado get toy insurance?

The Centennial, CO area continues to be a popular community for people to move to. While it is close to a major city, there is always appealing proximity to the local foothills and mountains. To experience the area as much as possible, investing in recreational toys is common. For those that are in this area, getting a proper toy insurance plan is a good idea. There are various reasons people should obtain this coverage.

Receive Coverage for Asset

A primary reason to obtain toy insurance is so you can receive coverage for your asset. If you decide to invest in a recreational toy, it will be something that you will want to use for a long time. Unfortunately, there is always a risk that your toy could be damaged in an accident or stolen. If you invest in toy insurance, you will get the support and protection needed to offset these risks.

Minimize Liability Risk

You also should consider getting toy insurance to minimize your liability risk. No matter how safe and experienced you are, there is going to be a chance that you could cause damage when using the recreational toy. Your toy insurance plan will include coverage that can help to offset this risk. Ultimately, this can help to minimize your personal expense if you are held responsible for an accident. 

If you have purchased a recreational toy in Centennial, CO, getting coverage for it is a top priority. When looking for insurance, you can get all the support that you need by speaking with Compass Insurance. The team with Compass Insurance understands the unique needs that recreational toy owners have. They can help ensure you get a proper plan by evaluating your situation and giving the guidance you need along the way.