Auto Insurance Coverage Options for Centennial, CO Drivers

As a driver in Centennial, CO, you are required by law to have an active auto insurance policy. Some insurance coverage is mandatory while other insurance coverage is optional. Here is what you need to know about auto insurance coverage options for Centennial, CO drivers.

Auto insurance coverage for CO drivers include:

  • Bodily injury liability (BI)
  • Property damage liability (PD)
  • Uninsured/underinsured motorist (UIM)
  • Medical payments coverage (MPC or Med Pay)
  • Collision coverage
  • Comprehensive coverage

Bodily Injury Liability – If you cause an accident that results in a severe injury or death, bodily injury liability helps with paying for damages and other associated fees.

Property Damage Liability – If you damage someone’s property, including physical properties, such as garage doors, building, utility poles, and similar physical property, damage liability insurance covers these damage expenses.

Uninsured/Underinsured Motorist – If you are involved in an accident and the other driver does not have adequate insurance coverage, uninsured/underinsured motorist insurance covers medical expenses, and other associated fees.

Medical Payments Coverage – Medical payments coverage started in January 2009 and requires CO auto insurance agencies to offer this coverage. This type of insurance policy is not required by law, but if you do not want medical payments coverage, you must opt-out or it will be added to your premium coverage automatically.

Collision Coverage – Collision coverage handles the expenses associated with the damage done to your car as a result of a collision with another car, fire hydrant, or other objects. Collision coverage is not mandatory in CO, but it may be required by your bank if you have an active auto loan.

Comprehensive Coverage – Comprehensive coverage handles the expenses if your car is stolen or damaged by nature, such as hail, flood, wildlife, and similar instances. Comprehensive coverage, like collision coverage, is options but may be required by your bank if you have an auto loan. 

Here at Compass Insurance, we take pride in the excellent customer service we provide. Our customers are our priority. We offer a variety of insurance solutions for Centennial, CO residents, including auto, home, commercial, and other insurances. Contact us today to learn more about our company and the insurance solutions we provide.

What Home Upgrades Should I Tell My Insurance Provider About?

Whenever you perform a home upgrade you will improve the value of your property. Ideally, you’ll insure these upgrades just in case it is ever damaged due to a storm, fire, or other issues. While you’re not obligated to tell your insurance provider about your home upgrades some are more important than others. Here at Compass Insurance, we want to help educate you on home insurance and the ins and outs within these policies. So, if you’re looking to upgrade and live around Centennial, CO, here are some of the upgrades you need to consider informing your insurance provider about. 

Kitchen and Major Bathroom Renovations

If you make any kind of major kitchen and bathroom renovations you should tell your insurance provider. If your home was damaged you wouldn’t want to repair these out of pocket all over again, would you? Now, if you just update fixtures and the paint color you don’t need to, but anything that you spend more than several thousand dollars on is something you should likely discuss. 

Finished Basement

If your home has a basement and you finished it up you’ll want to contact your insurance provider. This drastically improves the value of your home. You should consider doing the same if you finished your attic. 

Update Your Home Insurance Today

It doesn’t matter if you currently have home owner’s insurance, there’s a good chance you can find a policy that better fits your personal needs as a homeowner. If you’re interested in shopping around and finding a new policy that covers your property our staff here at Compass Insurance is here to help. So, if you live in Centennial, CO we are happy to address all the questions and concerns you might have.