When Are You Required to Have Boat Insurance in Colorado?

Boat Insurance in Colorado

Boating in Colorado can be a fun and rewarding experience, but there is still a potential for accidents and other mishaps when you own a boat. While it is not required by law to have a boater’s insurance policy, it can be a wise move to have it anyway. Damage to your boat as well as other boater’s property, theft, and other incidents can leave you with costly expenses and losses which could have been avoided with proper insurance.

We have years of collective experience helping boaters get great insurance coverage for their investments at Compass Insurance of Centennial, CO. Our agents work to get the best rates with great policies and coverage for watercraft of all kinds. We will be happy to assist you with a policy that is tailored to your specific needs.

Do I Need Boat Insurance?

Sometimes, if you finance your boat you will be required to obtain boating insurance by your lending institution. This can differ from one lender to the next, so it is important to check with yours. Another example where insurance may be required is if you have your boat at a marina. Some marinas require this type of insurance to dock your boat at their facility. It is advised that this insurance is good to have regardless if it is required by law or not. It will help keep you protected in the event of an accident or loss.

Quality Insurance in Centennial, CO 

At Compass Insurance, we have experience helping boaters get insurance coverage for peace of mind and safety. Our agents will be happy to discuss the details of your policy and help you determine the level of insurance you need for your boat in Centennial, CO.

Does Your Home Business Need Commercial Coverage?

If you recently started a home business, you may be wondering about insurance coverage. Commercial insurance isn’t only for traditional brick and mortar companies. Your home-based business can also benefit from what commercial policies that Compass Insurance has to offer. Here are a few ways you can protect your home business with commercial coverage.

Property Insurance

Commercial property insurance protects your business equipment such as computers, scanners, printers, phones, etc. This equipment isn’t covered under most home policies. If these items are stolen or damaged in a disaster, property coverage will compensate you for your loss. Property coverage also protects any business inventory you may be stored in your home or garage against damage or loss.

Liability Coverage

General liability protects your business assets by covering accidental injuries a customer may have while visiting your home for business purposes. If you’re sued for damages, liability covers your legal costs.

Business Interruption

If your Centennial, CO home business is disrupted due to disaster damage to your home, you could lose valuable revenue. Business interruption insurance helps cover your business losses while you’re shut down to keep you from going under.  This financial support could be instrumental in helping your business carry on.

Workers Comp

Colorado requires that all businesses with one or more full or part-time workers carry workers comp coverage. This insurance covers the medical costs of your employees’ work-related injuries so you don’t have to pay for these expenses out of your business assets.

Commercial Auto

If you use your personal vehicle for business purposes such as delivering goods to customers, you’ll need commercial auto coverage to protect you against accidents on the job.

To learn more about commercial insurance for your Centennial, CO home-based business, call or visit your Compass Insurance agent.

Keeping your home safe while you are away

Getting away for a day or a week is something that people enjoy. You make your plans, pack your bags, and load the car for the airport or the road. You leave your home behind and an unoccupied house needs to be safe. Bad things happen but they don’t need to happen to you. In Centennial, CO Compass Insurance offers you choices. As independent agents, we represent some of the most respected carriers in the business and we help you find the one that is right for you. 

Set your home security system

If you have a home security system it is a great way to protect your home but only if it is turned on and armed. With all the advances in home security, you should be able to turn your system on remotely with your smartphone even if you realize it after you leave. 

Stop your mail

Nothing says we’re not home like an overstuffed mailbox. It is as simple as going online to the USPS website to fill out the dates you want your mail stopped and when to resume it. It is a good idea to ask mail to stop a day before you are leaving just to make sure your mailman got the message. 

Talk to a neighbor

Neighbors see things, and when you are planning to be away, a nosey neighbor can be your best friend. If you know someone walks the neighborhood every day, ask them to look for anything unusual about your home while you are away. 

Don’t announce your plans

Media silence when you are planning to be away is the best policy. Why give thieves the information they are looking for? Don’t share vacation pictures until you get back. 

Contact Compass Insurance in Centennial, CO  and let our experienced and friendly agents help you choose the perfect home insurance. 

Three things to know about auto insurance claims

One thing any motorist and auto insurance policyholder is how to file a claim on an auto insurance policy. At Compass Insurance, we offer auto insurance policies in Centennial, CO. 

The following are three things to know about auto insurance claims if you are a motorist in Colorado.

It’s important to file a claim as quickly as possible.

After you’ve gotten in an accident, it’s important to contact your insurance company to file a claim quickly.

Your insurance company needs to get the claim process started as quickly as possible so that the costs of your accident can be covered. 

Police reports are important when it comes to auto insurance claims. 

Any accident resulting in significant damages should involve a police report. A police report can be used to establish fault in an accident. You should supply a police report to your insurance company if there is one when you file a claim on your auto insurance policy.  

You may be able to enjoy rental car coverage until your vehicle is repaired. 

One huge possible benefit of having collision coverage on your policy is that you might enjoy rental car coverage.

Perhaps your vehicle has been damaged in an accident to such an extent that it needs bodywork and repairs before you can drive it again. With rental car coverage, your insurance company will cover the costs of a rental vehicle until your own vehicle is driveable once again after an accident. 

When you’re looking for an auto insurance policy in Centennial, CO, we’re here to help at Compass Insurance. Contact us if you’d like to learn more about auto insurance or explore your policy options in Colorado. 

3 Facts About Motorcycle Insurance in Centennial

When you own a motorcycle in Centennial, CO, your focus is likely on the pickup of the engine and the feel of the wind blowing through your hair. But as hard as it can be to remember sometimes, there’s also a lot of responsibility that goes along with riding a bike. Compass Insurance wants you to know the facts so that you have all the information you need to feel confident on the road. Whether your average trips last for 15 minutes or the whole day, here are a few things that you should keep in the back of your mind. 

1. Insurance Policies Can Be Customized 

Do you keep your motorcycle locked up safely in a garage or do you tend to park it on the open street? Do you use it during one season of the year or as many days as you possibly can? There are countless questions about how you use your motorcycle that help determine what type of policy is right for you, so it’s important to have all the coverage you need if something should happen. 

2. Lots of Things Damage Your Motorcycle 

From vehicle accidents to vandalism to fire, there are plenty of events that can end up leading to a claim. It’s important to know about all of them, as certain policies may not cover different events. Once you’ve looked at all the things that can go wrong, you can start to narrow down which events are most likely to happen to you in Centennial, CO. 

3. Your Carrier Matters 

The staff at Compass Insurance knows just how important it is to get a policy that you’re comfortable with, regardless of the coverage you choose. Give us a call today to find out more about how we can help set you up for success. 

Why should I get a toy insurance policy?

Owning a recreational toy can be a great option for those that want to explore and enjoy the great outdoors. If you are looking for a new recreational toy in your area, you should also consider your insurance needs. For those that are in the Centennial, CO area, and own a recreational toy, there are several reasons why you should get a quality toy insurance policy. 

Required for Many Owners

One of the reasons people should get a toy insurance policy is that it could be a requirement for them. There are several reasons why a toy insurance policy could be a requirement. If you have a loan out that was used to purchase your recreational toy, the lender may require that you get toy insurance in order to protect their collateral. Additionally, there are certain trails, parks, and other areas that require all people to have a full toy insurance policy before going out. 

Gives Important Coverage

Even if you are in a position where toy insurance is not required, you should still spend time carefully assessing your needs. A toy insurance policy will give you both liability coverage and optional collision and comprehensive coverage. If you do not have this coverage, you will have to pay for any damages out of pocket. This could be quite expensive and the risk could be mitigated with proper insurance.

As you are looking for a new toy insurance policy in the Centennial, CO area, you should speak with the team at Compass Insurance. Choosing a new insurance policy can come with a lot of complicated decisions. The team at Compass Insurance can provide the support you need to choose a new policy. This can help to ensure you get into a policy that is ideal for your situation. 

Do I need boat insurance in Centennial?

Those that are in the Centennial, CO area will likely enjoy the beautiful weather that exists for much of the year. While Colorado is known for snow, the entire Denver area can also enjoy long and warm summers. If you want to enjoy your summer as much as possible, you should consider getting a boat. If you are a boat owner here, there are several reasons why you may also need to have a boat insurance policy. 

You Have Taken Out a Loan

One reason that you may need to have boat insurance when you are in Centennial is if you have taken out a loan. Buying a boat is a big purchase and due to this, it is common to finance it with a loan. If you do take out a boat loan, the lender will have insurance obligations that need to be met. This will help to protect their collateral in the event the boat is damaged or stolen.

You Want to Use Certain Water Access Points

Boat owners that want to use certain marinas or waterways in and around Centennial will need to have a full insurance policy. The water access points will want you to have liability coverage as it will ensure you are able to pay for damages if you cause an accident. In some cases, you may need to provide evidence of coverage prior to using the space. 

Anyone that owns a boat in the Centennial, CO area should get a proper boat insurance policy. If you are looking for a new policy here, you should reach out to the team at Compass Insurance. When you call Compass Insurance, you can learn a lot more about how you can protect yourself with boat insurance. It can then help to ensure that you remain properly protected at all times. 

Are third liability claims covered by commercial insurance?

What is commercial insurance?

Suppose you are wondering what would be a suitable insurance cover for your business; well, commercial insurance is a policy that covers your business against financial liability arising from damage to business property or injuries on your employees. At Compass Insurance in Centennial, CO, additional coverage may be provided upon request to cover business interruption, equipment breakdown, or workers’ compensation.

What factors to consider when purchasing commercial insurance?

  • Whether the business owns or leases property

Where a business leases property, the risks involved are higher. You must disclose this to our Compass Insurance agents to ensure your property is analyzed for all possible risks and fully covered.

  • Gross annual revenue

Have in mind the impact of loss should the business have to stop operations for some time. This could be a result of property damage or employee injury. 

  • Location

Your business may be predisposed to certain risks based on its location. A business near manufacturing companies or construction sites faces the risk of fire or property damage.

Types of commercial insurance

  • Workers compensation

This will cover your employees against injuries, supports medical expenses, and wage compensation should an employee not be in a position to work.

  • Commercial auto insurance

This covers your autos against thefts, break-ins, or accidents.

  • Third-party liability insurance

This covers injuries caused by third parties while on your property. This may include lawsuits and claims against the business that may exceed regular policies and are difficult to predict.

Benefits of commercial insurance?

  • Business continuity

Commercial insurance will ensure business continuity through compensation, where business operations are interrupted.

  • Cushion from financial obligation

Destruction of the property could result in substantial financial liability. Having a commercial insurance policy cushions you against such financial liability.

Please speak to our Compass Insurance agents in Centennial, CO, who will customize a policy that will meet your needs or visit our website for more information.

Home Insurance for New Homeowners

Maybe you’re buying a new home for the family, or you’re purchasing your first-ever home in Centennial, CO. Either way, if you’re a new homeowner, you need homeowners insurance. If you’re new, it can be hard to know what home insurance covers and what policy is right for you. Learn the in’s and out’s of home insurance with the experts at Compass Insurance. 

What Does Home Insurance Cover? 

Home insurance provides you with financial protection in the event that your home sustains damage from an accident or other type of incident. Since new homeowners may be unfamiliar with home insurance protection, here are some areas in which you can receive coverage with home insurance: 

  • Property damage
  • Damage sustained from a natural disaster
  • Liability
  • Injury 
  • Damage of another person’s property
  • Other structures on your property

These are just some of the areas in which home insurance can provide coverage. The specific coverage types and coverage amounts will depend on what home insurance policy you choose. To find the right home insurance policy for you, visit Compass Insurance for a consultation. 

Why Is Home Insurance Important?

Home insurance doesn’t just provide your home with protection, but it gives you relief from the fear of not being covered. Life can be unpredictable, and your home is your best investment. You want to do everything in your power to make sure that your home is properly protected. It’s always better to have coverage and never need it than it is to never have coverage and need it one day. 

Protect Your Home with Compass Insurance

When it’s time to choose a home insurance policy to protect you and your family, visit Compass Insurance to find the right policy for you. Our office serves the Centennial, CO area, and you can contact us online or over the phone to receive your consultation. 

5 Important Facts Every Driver Should Know about Auto Insurance

If you drive a car in Centennial, CO, you’re required to have auto insurance. Auto insurance is designed to protect you against mishaps that can occur during your travels. At Compass Insurance, we can help you obtain the right auto coverage for your lifestyle. Here are some important auto insurance facts every driver should know.

Auto Liability Coverage is Mandatory

Auto liability coverage is mandatory in most states and Colorado is no exception. Liability insurance pays for injuries and vehicle damage to other drivers in accidents that are your fault. Collision, comprehensive, and uninsured motorist (UM) coverage are optional.

Auto Policies Offer Various Types of Coverage

In addition to liability insurance, auto policies offer collision, comprehensive, UM, and roadside assistance coverage. Collision insurance covers collision damage to your car. Comprehensive covers theft and damage from non-collision sources. If you’re hit by an uninsured driver, UM coverage helps pay for your repair costs. Roadside assist covers towing and minor repairs if you have a breakdown on the road.

You Can Customize Your Auto Policy

Auto policies can be customized by being selective in your coverage. Customized coverage gives you more accurate protection for your lifestyle. It also helps reduce auto insurance costs.

Cheap Insurance Isn’t Always the Best Option

Cheap insurance may be lacking in the essential protection you need. Inadequate coverage could cost you more in the long run as you may have to pay for injuries or damages out of pocket. We don’t recommend you compromise coverage for the cost.

Auto Insurers Aren’t All the Same

Insurance companies vary in their coverage, services, and costs. By working with a reputable insurer, you’re more likely to receive quality coverage and services at reasonable costs.

To purchase the auto coverage you need in Centennial, CO, contact your Compass Insurance agent today.