Homeowner’s insurance is a must-have on your Centennial home so you and your bank have the security of knowing it can be repaired or rebuilt if a disaster strikes. Although much of the cost of your coverage is based on factors you can’t control, like the cost of rebuilding your home in today’s economy, there are still several things you can do to decrease your costs. They include boosting your credit score, getting quotes from multiple companies from an independent agent, and adding safety features to your home to decrease the likelihood of needing to make a claim. Here are some of the best safety features to consider adding.
1. Install a smoke detector in every room of your home, plus a carbon monoxide detector on each floor. Insurance companies ask whether you have these, and if you do, you’ll qualify for discounts because you are more likely to respond to a fire before it gets out of control.
2. Purchase at least one fire extinguisher for each floor of your home. You should store one near the kitchen, one near the laundry room, and one near your garage or workshop area. You’ll get additional discounts on your home insurance in Centennial, Colorado if you have these.
3. Install dead bolts on all exterior doors. These make it more difficult to break into your home, and they’re one of the less expensive types of safety features you can add. Then make sure to tell your independent agent you have them so you can get better quotes on your home insurance.
4. Install a monitored security alarm system in your home. This is the best way to protect against burglaries, and you’ll get a sizeable discount on your homeowner’s insurance policy if you have an alarm system.
The maximum coverage for a comprehensive policy in Centennial, Colorado will depend upon your specific situation. However, in general there is not a limit on the upper end of the comprehensive policy limits, just as there is no lower minimum requirement in the state of Colorado. There are several basic types of insurance coverage that Centennial Colorado buyers may wish to consider.
The Bodily Injury type of Liability coverage is required by Colorado state law. The minimum of Bodily Injury Liability insurance in Colorado is $25,000 per person, and $50,000 per accident in total. You will generally see this figure expressed as 25/50 BI-L on insurance policies. There is no designated maximum.
The Property Damage Liability coverage is meant to cover the property damages that happen with objects or structures. According to Colorado state law you must maintain a minimum of $15,000 in Property Damage Liability per incident. As with Bodily Injury Liability, there is no designated maximum in Colorado.
The Comprehensive coverage policy will cover you for the types of damage that may occur when you are not in an actual collision. This can include car theft, theft of contents inside your car, or other types of damages like hail storms, floods, earthquakes, explosions, items falling from the sky, and more. The state of Colorado recommends that drivers choose this type of coverage for personal protection purposes, however it is not required by Colorado law. Just as there is not required minimum on this type of insurance, there is also no maximum policy levels. Essentially, your comprehensive policy can cover anything up to the amount of its maximum limits.
Speak with your independent agent about how much your maximum coverage level should be, so that you can be properly prepared in case of disaster.
What would you do if the house you were renting in Centennial, Colorado burned down in a fire, or if the apartment above yours sprung a leak and dumped water all over your most prized possessions? If you didn’t have renter’s insurance, you would be in a tough spot. Even though you don’t have any financial liability for the physical home itself, your personal belongings are your responsibility to replace. That’s why it’s so important to have renter’s insurance. When you’re looking into getting a policy, there are a few things you should do to get the right one.
1. Calculate the value of your possessions. Walk though your house, condo or apartment room by room, adding up what it would cost you to replace all of your belongings in that room, including things like furniture, housewares, clothing, and electronics. The total is the amount of renter’s insurance you should buy to fully protect yourself. While you’re at it, take pictures of your belongings to help you in the event you have to make a claim.
2. Gather quotes for this amount of coverage through an independent agent. Because this type of agent does not work with just one insurance company in Centennial, Colorado, you’ll get an unbiased view of all of the options available to you. Once you have the prices, you can compare them to pick the insurance carrier that is likely to be best for you.
3. Discuss with the independent agent whether you should add any riders to your policy. These provide additional coverage for specific types of items, like jewelry, electronics, and other valuables. Depending on the type of policy you are getting, these may have only limited coverage under the standard policy. Adding riders ensures that your most valuable possessions are protected.
Are you a boat owner in Centennial or the metro-Denver area? Then you may already be aware that the state of Colorado does not require you to purchase boat insurance. Still, it is a good idea to insure your boat against costly damages. If you are undecided on purchasing coverage for your boat or are deciding between coverage plans, here are a few things you should know.
1. Your Homeowners Insurance Won’t Provide Enough Coverage
If you own a home in Centennial or in the metro-Denver area, you may believe that your homeowner’s insurance will cover your boat. This may be the case if you have a very small boat. However, if your boat is larger and has an engine, it is likely to fall outside of your homeowner’s insurance plan.
2. Liability Protection is the Top Benefit of Coverage
Even if you never get in an accident, you could be liable for injuries that take place on your boat. A typical boat insurance plan includes bodily injury coverage that covers medical and legal expenses that arise from accidents.
3. Basic Coverage May Not Meet Your Needs
As in the case of automobile insurance, sticking to minimum levels of coverage might not cover all of the situations you can encounter on your boat. If you are hit by an uninsured boater, you may need uninsured boater insurance to cover the damages. If your boat is damaged by vandals or in a fire or flood, you may need comprehensive coverage.
The best way to determine what level of coverage will protect your boat is to consult with an independent agent. Our independent agents are familiar with various types of boat insurance and can help you compare between insurance providers for the best rates.