For those who are purchasing a home in Centennial, refinancing it, or otherwise interested in the condition of their property, a home inspection is a must. Some mortgage lenders and insurance companies require it. Why is it so important? The answer is simple. There is no way to know what happened in that home, to that home, or surrounding it that could impact its structural integrity unless you have a professional examine it thoroughly.
When you get a property inspection, you will find that you learn about the risks present in that property. For example, you may learn about water damage in the basement you did not know about previously. You may learn about concerns with the property’s slope. You will learn about the age and condition of the major appliances in your home, including your heating system, air conditioner, and electrical. In Colorado, there is always the risk that wind or snow damage could have affected the condition of the roof structure, too.
Once you learn about the actual condition of your home, you can take action to do something about it. That means that you can have the previous owner fix the problem or get a reduction in your purchase price if you are buying. It also means you can, if you already own the home, fix a problem before an accident occurs.
Your home is your largest asset and you need to protect it with the right type of insurance, too. At Compass Insurance Group, we can provide you with the help you need to do just that. As an independent agency, we will work with you to determine the condition of your home and, if necessary, whether a home inspection is a good idea. Get the protection you need by contacting us today.
Teen drivers are notoriously some of the most expensive to insure, especially if you have boys. However, you shouldn’t have to resign yourself to paying thousands of dollars each year to get auto insurance in Centennial, Colorado for your teen. There are plenty of strategies you can use to narrow your search down to the best options for your family and budget.
Choose the Car Wisely: Some cars are far more expensive to insure than others because they statistically get in more accidents. When selecting your teen’s vehicle, pick a car with good safety ratings and that generally has lower horsepower and isn’t viewed as a sporty vehicle. In addition, consider whether your teen really needs his or her own vehicle. Adding a teen to the policy is much cheaper if the teen is just listed as an occasional driver on a family vehicle, like a minivan, which tends to be one of the least expensive types of vehicles to insure.
Consider Liability Coverage Only: If the teen is going to be driving his or her own vehicle, consider getting liability coverage only on that vehicle. At least half of the cost is usually for comprehensive and collision coverage, which is completely optional and pays for repairs to your teen’s vehicle. Although it’s a risk to go without this coverage, it’s a wise one if the teen is driving a vehicle that isn’t worth much anyway. If you do need more than liability coverage, at least increase the deductibles to reduce the cost.
Shop Around: Not all auto insurance companies offer the same rates. Use an independent agent in Centennial, Colorado to get comparative quotes from the top carriers. Consider either getting your teen his or her own policy or switching your whole family to a different carrier. The only way to discover the best option is to get a wide range of quotes, which is easy when you use an independent agent.
Your Centennial independent agent will be your greatest resource in helping you determine exactly how your property damage insurance claims will work. However, the bottom line is that when you choose the right agent, the process of claims filing will be far more simple than it could be elsewhere. Here are a couple of the basic facts about property damage insurance claims in the Centennial, Colorado area.
Is Property Damage Coverage Really Necessary?
Yes, property damage coverage is absolutely necessary if you hope to recover any compensation at all when your property is destroyed or damaged. There are basically two different types of property damage insurance claims possible today: Home property damage and auto property damage. These will exist on two different policies, the former on your homeowners policy and the latter on your auto insurance policy.
What Does a Property Damage Policy Cover?
The types of property damages included in your auto property damage insurance can include any of the following situations, whether it is in regards to your home or to your auto: Theft, weather related damages (hail, flooding, earthquakes, explosions, falling objects, and any other situations specified on your policy. Sometimes you will need to add earthquakes to a homeowners policy because this can be a common exclusion in homeowners policies property damage clauses in Colorado. Ask your agent exactly what is covered and if you may need additional coverages.
How Much is a Property Damage Policy in Colorado?
The cost of getting property damage coverage may be a lot less than you expect. Because this is a type of coverage that you are normally required to hold, the cost is as reasonable as possible so as to be available for everyone who needs it in order to stay legal.
Many people would rather get dental work done than become educated on their insurance needs, policies and options. However, investing just a few hours to become more knowledgeable can end up saving you hundreds of dollars a year. Multiply that by your life expectancy, and that’s a pretty good ROI. To get your education started, here are a few myths that are common. Soon you’ll be great at identifying them when you hear them. Fiction: You should always file a claim. Fact: Filing a claim for a minor fender bender that can be fixed for a hundred bucks, or the theft of $50 worth of CDs from your car, isn’t worth the increase you may face in your premiums. Keep an emergency fund on hand to cover these expenses so that you don’t jeopardize your insurance coverage. Fiction: Umbrella insurance is only for the wealthy. Fact: It’s for anyone who feels that they need the extra protection, above and beyond their auto and home insurance policies. If you’re sued for $1.5 million, but your insurance only pays out $1 million, you’re on the hook for the remaining $500,000. An umbrella policy will cover that, saving your home, autos and other valuables. Fiction: My neighborhood hasn’t flooded in 80 years so I don’t need flood insurance. Fact: Good as they are, weather forecasters aren’t omniscient. Mother Nature plays by her own rules, and doesn’t much care for what mortals think "should" or "should not" happen. Plus, your mortgage holder might require that you have flood coverage, so check your contract before opting out of this policy. To have more myths dispelled, contact your Centennial, Colorado independent agent today. We specialize in informing and educating our clients about their insurance requirements, and help you compare quotes on home and auto insurance for the nation’s top insurers.