Off-Season is the Perfect Time to Review Your Boat Insurance Policy

Owning a boat can be a lot of fun, but there are also a lot of responsibilities involved in responsible boat ownership. As you get ready to take your boat out of the water for the off-season, why not take the opportunity to also review your boat insurance policy? The team at Compass Insurance is here to help our boat-owning clients in the greater Centennial, CO area ensure that their current policy is adequate for their needs. Don’t wait until it’s time to get the boat back on the water to find out that your policy needs an upgrade!

Benefits of Annual Boat Policy Reviews

Boating in Colorado is a great way to enjoy our sunny days, and seeing a side of the state that a lot of people miss. A lot of changes can occur over the lifetime of your boat ownership, such as switching from home storage to a marina or traveling out of state to enjoy more bodies of water. These types of changes are just a small example of events that can alter your insurance needs. Don’t find out that you don’t have adequate towing insurance until it’s too late. Or realize that a theft while your boat is in the marina may not be handled the same way if your boat had been stored at your home. An annual policy review will ensure that your current coverage offers protection for all the ways that you currently use your boat.

Let’s take advantage of the off-season and make sure that your boat insurance policy is right for your needs! If you are in the greater Centennial, CO area, contact the Compass Insurance team today and set up a meeting to review your boat insurance policy. 

Why a Centennial Business Needs Commercial Insurance

There are many different reasons why people will want to start their own business. When you are looking to start your own business, Centennial, CO is a great place to do as it has an amazing local economy. To ensure that you are properly protected when starting a business, having commercial insurance is beneficial. There are several reasons why you should have commercial insurance when you are the owner of a business. 

Ensures Compliance 

One reason why you will need to have commercial insurance is that it will ensure compliance with a wide variety of agreements. Many different stakeholders in your company, including commercial lenders, vendors, investors, and even state regulators will require that you have commercial insurance. This is because having insurance will help to ensure you are able to stay financially solvent if there is an unexpected accident. 

Financial Stability

Most importantly, having insurance is a great way to ensure that you will stay financially stable. There are many unpredictable situations that could arise when you own small business. Whether it is theft, an accident that results in liability claims, or fire damage, you are always at risk of something happening to your organization. Fortunately, you also have the option of getting commercial insurance, which will help to protect your business and keep your organization running even when something bad and unpredictable comes up. 

Maintaining commercial insurance for your Centennial, CO area is always a very good decision. If you are going to own a business and want to learn more about your options for insuring your business, Compass Insurance is a great place to start your search. The team at Compass Insurance will help you to find a policy that will properly protect your business assets and minimize liability. 

Safety Equipment to Have on Hand in Your Home

When you keep your home safe, you ideally have more of a sense of relaxation and calm. Here are some key pieces of safety equipment to have in your home, and these tips are coming to you courtesy of Compass Insurance serving the Centennial, CO area.

Carbon monoxide detector

It is really important to have a way to be able to detect carbon monoxide problems. The challenge is that carbon monoxide cannot be smelled or seen. Thus, you need to install a carbon monoxide detector so you can properly monitor. 

Smoke detectors

How many smoke detectors you need in your home will vary based on factors like how large your home is. If your home has more than one level, you need a smoke detector on each level of the house. Make sure you have fresh batteries in smoke detectors at all times.

Fire extinguisher

Every home should have at least one fire extinguisher. When a fire breaks out, seconds matter. So you need to have some of your own safety equipment so you can be more proactive and self-efficient.

Fire alarms

Fire alarms provide even more safety equipment to your home. Make sure yours are tested periodically to verify that they are working properly. Just be aware that the firm alarm testing is extremely loud.

First-aid supplies

You always need to have certain basic first aid items on hand. Those include bandages, antibacterial ointment, sunburn soother, medications, pain relievers, and hydrogen peroxide.

It pays to be prepared by making sure you have all the necessary safety equipment around your house. Once you have gathered your essential equipment, keep all of that organized and in a safe but easily accessible spot.

Should I Get My Teenager a Separate Auto Insurance Policy?

It’s perfectly normal to feel conflicted about your teen starting to drive. On the one hand, it’s great that they are experiencing more freedom and can start transporting themselves places rather than relying on you for everything. On the other hand, it’s downright scary that the kid you’ve watched grow up is now getting behind the wheel. 

Naturally, you want to do what you can to keep your teen — and your car — safe. If they have moved beyond their instruction permit and have a drivers license, they are already required to have auto insurance in order to legally drive in Colorado and other states. But should you add them to your policy or keep them separate? Fortunately, the experts at Compass Insurance are here to help! Serving drivers of all ages in the Centennial, CO area and beyond, we’re here to answer all of your questions.

Yes, You’ll Probably Want to Add them to Your Own Policy

In most cases, you’ll want to add your teen to your own policy. And if your teen is driving your vehicle (including a vehicle that you own but do not drive), you’ll definitely want to add them to your own policy.

For a more straightforward process, it’s a good idea to do this when your policy is up for renewal, or when you are looking for a new auto insurance policy yourself. Not only is it easier for a teenager to get approved for insurance when on their parent’s policy, but this will also give them more advanced coverage options.

When Should a Teen Have Their Own Auto Insurance Policy?

If your teen happens to be the sole owner of their vehicle, then it can be a good idea for them to get their own auto insurance coverage. However, it is important to discuss their options with an experienced insurance agent and be actively involved in helping them find a good policy.

Have more questions? Want to get started on either getting your teen their own auto insurance policy or adding them to your own? Contact us today at Compass Insurance or drop by our office in the Centennial, CO area. We look forward to getting your teen driver the coverage they need to be safe on the road! 

 

The Importance of Motorcycle Insurance

As a motorcycle owner, you are required to carry motorcycle insurance to register and ride on your motorcycle. While most people are well aware that it is required, many do not fully realize the importance of having motorcycle insurance. Compass Insurance, serving Centennial, CO, wants to help you realize that motorcycle insurance is more than something that you are required to carry; it is something that can be very beneficial to you. Here are a few reasons motorcycle insurance is so important. 

Covers Damage Done to Your Bike

One of the reasons why motorcycle insurance is important is because it helps to cover damage done to your bike if you are involved in an accident. You have made an investment in your bike when you purchased it. Insurance helps to protect that investment and your finances in the event of an accident. 

Helps to Cover Your Medical Bills

Another major benefit associated with motorcycle insurance is that your policy helps to cover your medical bills if you are injured while riding your motorcycle. Medical bills can add up quickly and can cost a significant amount of money. Having motorcycle insurance helps to cover these expenses. Having the right level of coverage is important to protecting you if an accident happens. 

Covers Any Damage You Do to Cars

The final benefit to motorcycle insurance is that this type of insurance policy covers any damage that you may do to other cars while you are out for a ride. If you cause an accident, your insurance will pay to repair the other car or motorcycle that you may have caused damage to.

Do you need to purchase a motorcycle insurance policy in the greater Centennial, CO area? Then contact Compass Insurance today to get started. 

3 Tips for Buying Toy Insurance in Centennial, CO

You’re just a big kid who loves his toys. Whether you’re into boats, RVs, motorcycles, or jet skis, having toy insurance is a must if you want to protect you and your toys. Anything could happen. Your toy could be stolen or damaged by another party. Your toy could be involved in an accident that results in injury and the individual decides to sue. For these and many other reasons, having toy insurance in Centennial, CO sure sounds like a good idea. At Compass Insurance, we’ve put together a short list of tips to help you get started. These tips will help you find the best policy for your toys and help you save money along the way.

1. Compare Many Quotes

It’s recommended to compare several toy insurance quotes before making a decision. Look at coverage and cost in fine detail. A trusted and reputable insurance agent can help you with this task.

2. Bundle Your Insurance Policies

When you bundle all your policies together – life, auto, commercial, umbrella, etc… – your insurance carrier will give you a discount. You can either stay with the carrier you currently work with or switch to one that offers better savings and coverage for all your insurance policies, including toy insurance. 

3. Work with a Reputable Insurance Agent

To protect your toys, work with a reputable insurance agent to find the best policy at the best price. This professional should be friendly, knowledgeable, experienced, and able to answer all your questions and concerns.

To learn more about purchasing toy insurance in Centennial, CO, call Compass Insurance today. Our trusted agents will help you compare quotes, bundle your polices, and find you the right toy insurance at an affordable price. 

Additions to Customize Your Commercial General Liability Policy

General liability insurance from Compass Insurance protects your business from court-ordered costs associated with the use of your products and services. Your policy helps pay for medical costs, repairs, and replacement of others’ property.

However, your general liability coverage has some serious limits that could leave your Centennial, CO business vulnerable. Here are some additions to your policy that decrease specific risks to your commercial operation.

Liquor Liability

For establishments that sell alcohol, this policy addition helps pay for legal costs associated with the use of their product. From a destructive and inebriated client to partial liability for damages that occur as a result of consuming alcohol, this coverage is important for bars, eateries, and manufacturers.

Pollution Liability

Your manufacturing plant makes more than items for sales purposes. It also makes chemical and material byproducts that can pollute the air, water, and land around your production plant. Pollution liability helps pay for damages and clean up associated with runoff and debris from your production facility.

Director’s Liability

Running a corporation isn’t easy. Your decisions as a board member can sometimes have unforeseen effects. When things don’t go as planned, a director’s liability policy ensures you can defend yourself in court without risking your personal wealth. This coverage is designed specifically for corporate officers.

Errors and Omissions

The business world relies on contracts to keep everyone honest, open, and prevent problems between partners. However, we are all human and prone to mistakes. Don’t let a momentary lapse of memory derail your entire business plan. An errors and omissions clause protects you from incomplete or erroneous information in your business contracts.

Compass Insurance carries commercial policies for businesses in the Centennial, CO area. Contact our agents to learn how to customize your general liability coverage to match your business goals and style.

Does Boat Insurance Cover Accidents?

Boating is a fun, and sometimes dangerous pastime. You can have a great time boating but without sufficient insurance coverage, you might be left paying a hefty bill for an accident that you are in. For those that live in the Centennial, CO area, the agents with Compass Insurance can help you to find the policy that is going to work best for you and your boat.

For those that have a boat, it is always best to have a boat policy in place to help make sure that you are covered in the case that something does happen. Your policy is going to cover your injuries, the injuries of your passengers, and the cost of the accident as well. Some bodies of water require that you have a boat policy in order to be able to drive your boat. Your boat policy is likely to cover at the very least a liability amount. This means that you are going to be able to claim an accident, and the costs associated with it, in order to make sure that your boat is going to be able to be either repaired or replaced.

You can always take out more coverage based on the boat that you have, the type or amount of coverage that you want, and several other factors. It is always best to speak with an agent to find out more about what policy is going to work best for you and what policy is going to best cover and protect your boat. For those in the Centennial, CO area, the agents with Compass Insurance are a great resource and they can help you to find the policy that works best for you, for your boat, and for any potential situation, you may be in.

Does homeowners insurance in Centennial, CO cover my shed and outbuildings?

You trust your homeowners’ policy to protect you in case anything ever happens, and the last thing you need in the event of a disaster is a surprise where you find out certain important properties aren’t protected. If you are in Centennial, CO, we at Compass Insurance can help you understand your current policy and see if you need to make any changes.

What Is Normally Covered?

Your homeowners’ policy is a contract, and most people pay the most attention to the coverage amount and the deductible. However, it is important to also pay attention to any limitations or exclusions. For instance, some policies don’t cover damages because of flooding, or injuries caused by inherently risky items like trampolines.

The physical structure of your home is covered, including the building itself and most of its contents. Your clothing, appliances, electronics, decorations, flooring, and everything else in your home should all be protected under your policy.

Making Sure Your Outbuildings Are Protected

When you purchased your policy, an agent probably obtained photographs of your home, and that would have included a picture of any structures on your property, like a shed or detached garage. These are considered part of your property, and they will normally be protected. If you added an outdoor structure after purchasing your homeowners’ policy, it wouldn’t hurt to inform your agent. There may also be limitations as to how much is covered for outdoor structures, so you should check your contract if you have any questions.

Just like with any other contract, you will be safest if you make sure any additional outbuildings are mentioned in your contract. If you live in Centennial, CO and are thinking about adding to your homeowners’ insurance, or if you just have any questions, call Compass Insurance today.

Combining Your Auto Insurance When You Marry

Combining Your Auto Insurance When You Marry

You combine a lot of things when you get married. You might not have known it, but you and your spouse can combine your auto insurance when you get married to save money.

Why Insurance Companies Give a Discount

Something happens to people when they get married. They become safer people. Married people get into fewer accidents than single individuals. Insurance companies value safe drivers, so they give them lower rates. You can save money by combining car insurance policies with your spouse. In some cases, you can also combine policies if you are a domestic partnership.

How You Qualify for the Discount

Rather than simply getting married, you both also need a few simple qualities to qualify for the better rates. Come talk to an agent at Compass Insurance of Centennial, CO to find out how much you both could save. You both need to have a clean driving record and no recent gaps in coverage. When you insure multiple vehicles on one policy, you can qualify for a multi-car discount. If you have separate insurers, you can move the one at another insurer to Compass, then combine them.

When You Shouldn’t Combine

Sometimes, you need to keep your policies separate. If one spouse has a poor driving record or a DUI, combining won’t get you a lower rate. In fact, it would likely raise the cost of the low-risk driver’s policy. Also, avoid combining if one spouse has had to file a lot of auto insurance claims. That could increase your premiums. Finally, if one spouse drives an expensive vehicle like a Jaguar, Camaro or Corvette.

Call or come by Compass Insurance of Centennial, CO to learn more about combining auto insurance. We can help you determine which insurance option is right for you.