Can I save money by not insuring my toys during the winter, when I can’t play anyway?

As a grown-up, you love your toys and you want to take good care of them.  But if you live in Centennial, CO, you probably put your summer toys in storage during the winter, and your winter toys in storage during the summer. 

You may have wondered if you need to keep your policy effective while your toys are stored away. You may even be wondering if your property insurance through Compass Insurance might cover any damages that occur in the offseason. 

Maintaining Protection 

Whatever you decide, you need to make sure you have adequate protection. Most property insurance will cover some part of damages if you store your boat in the garage, for instance, but there will probably be a limit that isn’t close to the value of your boat.

Another thing you really need to consider is if you still have a loan on the item you need to insure. If your toy is the collateral for the loan, one of the conditions of the loan will be maintaining full coverage on the property. 

You Probably Won’t Save Money by Canceling for the Summer 

The insurance policy was probably already priced in such a way as to take into account the fact that the item won’t be used year round. Paying for just a few months will probably just cause you to incur a higher monthly rate. You can also get a discount for paying six months or a year at a time. 

If you want to find the best policy for your toys in Centennial, CO, you can see that there are a lot of variables. Call Compass Insurance today for a free quote. 

What Types of Motorcycle Insurance Do You Need?

Before you can ride your motorcycle in Centennial, CO, you need to insure your vehicle. Colorado establishes some basic minimum requirements for motorcycle insurance. Using these requirements can help you figure out what type of motorcycle insurance you need, and what type of optional insurance you should consider. Compass Insurance can help you figure it out.

Colorado Minimum Motorcycle Insurance Requirements

In Colorado, you’re required to have liability coverage for your motorcycle. You need liability insurance for:

  • Bodily injury to a person
  • Bodily injury to multiple people
  • Property damage

Liability coverage will help pay for injuries to passengers and others in an accident. Also, liability covers damage to another’s personal property in an accident. If you ride without at least the minimum coverage, you can face fines and other penalties.

Colorado’s Optional Insurance Options for Motorcycles

Minimum coverage leaves out a lot of potential eventualities. You can broaden your motorcycle coverage with additional insurance packages. Some examples include:

Collision and comprehensive coverage – Helps pay for damage to your own vehicle.

Medical payments coverage – Helps pay for your own injuries.

Uninsured and underinsured motorist – Helps pay for accidents with someone who has inadequate or no insurance.

Other insurance options exist for motorcycle coverage as well. Choosing motorcycle insurance that fits your specific riding activities is important for new riders and experienced ones.

Colorado’s Other Requirements for Motorcycle Riders

Beyond insurance requirements, note that motorcycle riders under 18 years old require a helmet when riding. Riders 18 and over do not require a helmet, but your insurance company will appreciate it if you wear one. Also, some form of eye protection is mandatory for all riders.

You need insurance and you need to carry proof of your insurance at all times in Centennial, CO. The minimum requirements are a good start, but consider adding more protections for yourself, your bike, and others. Contact Compass Insurance today for more information or a quote on motorcycle insurance.

3 Things You Need to Know About Commercial Insurance

How do you protect your business in Centennial, CO from risk? If you own a business in Colorado, you need to protect it regardless of whether it is big or small. Get the help of reputable insurance agencies such as Compass Insurance. They will work with you to find the most appropriate quote depending on the needs of your business. The following are some important facts about commercial insurance.

You Need Commercial Insurance When You Run a Home-Based Business

If you run your business from your home, you may falsely assume that your homeowner’s insurance covers you. That is not true. You need insurance to cater to your business needs. If, for example, you need to make deliveries to your clients, you need commercial auto insurance for your vehicle. You need insurance for your business property and equipment too.

Commercial Insurance Does Not over Criminal Activities

Your commercial liability insurance may offer you protection for accidental damage to other people’s property. It also covers you if third parties get injured your business property. It, however, does not cover your business if you or your employees commit intentional acts of crime such as fraud, theft, or assault.

You Can Get Coverage to Suit Your Industry Needs

Different industries face different types of risks. What may be the perfect coverage for one business is not necessarily suitable for another. Your Colorado insurance agency can write a quote for you depending on the needs of your business. Commercial insurance covers you against different risks depending on the risks that your business faces.

Get your quotes for commercial insurance in Centennial, CO from Compass Insurance. They have a team of attentive and professional agents who will help you find the most appropriate quotes for your business.

How Much Boat Insurance Do I Need If My Boat is in Storage?

Boat owners in Centennial, CO normally store their boats to keep them from being exposed to the harsh Colorado winters. At Compass Insurance, the agents can offer suggestions for protecting your boat while it is in storage. Just like having insurance for your car, you want to reduce your risk as much as possible even when your boat is not in use. Storage insurance can protect you from loss even when your boat is not on the water. 

Storage Insurance

Storage insurance will protect your boat while it isn’t in use. Because there is less risk of liability while your boat is in storage, those amounts can be reduced until it is put back into action. Storage insurance can vary depending on how much protection you want. If you are putting your boat in a storage facility, you may choose to leave the liability insurance in place in case of an accident while the boat is being moved.

Reduce Your Risk

Before you put your boat in storage there are several things you can do to reduce your risk of loss or damage. Shrink wrapping your boat will protect the interior from falling debris while winterizing the motor will keep it from freezing in the extreme Colorado temperatures.

If you live in the Centennial, CO area and plan on storing your boat, call the agents of Compass Insurance today. They can answer any questions you have about storage insurance and how it can protect your boat from various types of risk. Contact their office and talk to one of the agents for the most up-to-date information possible.

Should I Add My Teenage Child To My Insurance?

Your auto insurance policy should be as comprehensive as possible. When you have a teenager in your household in Centennial, CO, it’s important to add them to the policy. This way, you know that they are covered in the event that they get into an accident or cause any kind of property damage.

Having the Coverage

Teenagers need to learn how to drive. As they go through the learning phase, they are likely going to be using your vehicle. The moment that they get behind the wheel, they should be covered by your insurance policy.

You never know what could happen. As they are learning to drive in a parking lot, they could damage your vehicle or private property that is located nearby.

Even after they get their driver’s license, they are likely going to be borrowing your car. Teenagers are often expensive to insure because insurance companies view them as high-risk. They haven’t had the opportunity to drive in every scenario, which can lead to various problems on the road.

By having them on your insurance, it ensures that you can file a claim in the event that something happens.

How to Add Your Teenager

The moment your teenager gets a learner’s permit, you will want to add them to your insurance policy. This will ensure that they have the coverage when they’re behind the wheel of your car. If they have their own vehicle, adding another vehicle to an existing policy can be more affordable than having them open a completely new policy. Compass Insurance can compare rates from multiple companies to help you find the best option for adding your teenager to your policy.

By working with Compass Insurance, an agent can work closely with you to determine what type of insurance coverage is going to provide you with the most protection in Centennial, CO.

 

What are the Benefits of Home Insurance?

When you are looking to purchase a home in the Centennial, CO area, there are many different important decisions that need to be made. One important decision that you need to make is when you are looking to purchase a home insurance policy. There are many benefits that come with home insurance that you need to consider and think about when shopping for a policy.

Property Protection
One of the primary advantages of having a home insurance policy is that it will provide you with necessary protection for your home.  Your home is a very important investment that you need to properly care for. If there is a fire, major storm, or damage created by something else, your home insurance policy will be there to protect you. This will prove to be very beneficial in the event of an emergency. The policy will provide you with protection for the home structure as well as your personal belongings.

Liability Protection
One thing that many people do not think about when they own a home is how much liability they are taking on. If you ever have any guests over to your home, you could be found liable if they end up getting injured while at your property. Having a home insurance policy will provide you with liability protection as well. This will ensure you are covered if you are ever sued and found liable for an accident.

Once you are ready to buy a home in the Centennial, CO area, the first thing you should call Compass Insurance. When you contact Compass Insurance, you will learn far more about your insurance needs and all of the options that you have to choose from. The team will help to make sure you get the right policy that covers your needs. 

 

 

 

 

 

What benefits do I get from full coverage instead of just liability?

Driving in Centennial, CO can be a necessity, and you may be wondering how you can save money on the insurance policy you obtained through Compass Insurance. If you bought full coverage insurance, you may be wondering if you really need it and if there are some portions you don’t need. 

Do You Still Have a Loan On Your Vehicle? 

If you still owe money on your vehicle, you won’t be able to cut down to liability only policy. Because the entity that gave you the loan still has an interest in the vehicle, you need to keep the full coverage until the note is paid off.

In fact, if you try to change your policy and your bank finds out,  there is probably a clause in your contract that gives them permission to add a full coverage policy and charge you. 

The Difference Between Full Coverage and Liability Only 

Any auto insurance policy will cover liability, with minimum coverage starting at the legal requirement mandated by law. Those limits are not very high, and if you are found liable for an accident resulting in a large amount of damage and/or injury, you will be responsible for paying the difference if your limits aren’t high enough.

A comprehensive policy offering full coverage will cover damages to your own vehicle, and can also include other important coverages. Depending on the policy, you may be eligible to get a rental car when your car is damaged or add roadside assistance. 

Getting in a crash in Centennial, CO  can be expensive. If you want to make sure you’re covered as much as you’re comfortable, call  Compass Insurance and we can answer all your questions. 

Snowboarding Tips to Avoid Accidents and Injuries

Snowboarding in or around Centennial, CO is a fun sport for people of all ages and experience levels. Like any sport it is important to be safe and aware of your surroundings. If you are new to snowboarding there are some safety measures that you need to be aware of before you hit the slopes. Here are a few tips to help you avoid accidents and injuries while snowboarding.

Dress Appropriately

Simply being outside in the cold and snow can be uncomfortable, but traveling down a slope at a high rate of speed can quickly increase the cold as well as your risk of injury. It is extremely important that you wear the appropriate clothing and snow gear to prevent the risk of frostbite, sunburn and hypothermia. It is best to wear a few light layers of clothing instead of one heavy layer, which can restrict your movement. It is also essential that you wear eye covering, gloves and a hat and for some people, such as young children, a helmet is highly recommended.

Know the Slope Safety Rules

Safety is the number one priority when snowboarding, especially if you are new to the sport or have never been on a snow slope. It is essential that you are in reasonably good shape, which will help you retain your balance, without overworking your muscles and risking injury. To prepare for snowboarding, its best to stretch your muscles and do warm-up exercises before starting. As a beginner, you should never go alone and always start on the smallest slope, preferably with an instructor’s guidance.

Before you pack up and head off for your snowboarding adventure, it is important to make sure all of your insurance is up to date, including your health insurance and snowboard coverage. Be sure to talk with your insurance agent about what type of coverage you will need in the case of an accident or if something, such as theft occurs to your snowboard.

Residents of Centennial, CO who want to learn more information about snowboard insurance coverage, should contact Compass Insurance.

Boat Insurance Checklist

When getting insurance for your boat in Centennial, CO, there are some things to keep in mind. It is a smart idea to have a checklist in order to make sure you are getting the coverage you need. An agent at Compass Insurance can help you find the right insurance for your situation.

What Does Your Insurance Cover?

Comprehensive coverage will normally cover theft, accidental loss, or damage.

Do You Have Replacement Costs Covered?

If you want to replace your boat after an accident, you will need to have coverage that is for close to the current market value of your boat. You can adjust to account for depreciation at each renewal.

Lay Up Options

If you are not using your boat during a specific period of time, then you may be able to use this type of insurance so you can get a discount on your policy. You must keep in mind that you won’t be covered for any damage to your boat during this period.

Geographic Limits

Your insurance policy will have certain physical and water limits. If you want to take your boat around the country, you need to have a policy that will cover anywhere.

Trailer Coverage

If you have a boat, you likely have a trailer that goes with it. It’s a good idea to have coverage for your trailer, along with your boat insurance policy.

Accessory Equipment

This coverage should include your navigation equipment, lighting, and stereo system. A good policy will have coverage up to a certain amount and then have the options to purchase additional coverage.

No Mileage Restrictions

You don’t want coverage that restricts your mileage from where your boat is garaged or stored. Many policies should cover at least 75 miles and give you the option to increase if you need to.

Contact Compass Insurance serving Centennial, CO to find the right boat insurance.

Why Your Business Needs Commercial Insurance

Every business owner understands the fact that running a business comes with numerous inherent risks that you can’t avoid. A natural disaster could destroy your business property, or your customer could file a lawsuit against your business leading to significant financial losses that could even bring down the entire company.

Therefore, commercial insurance from Compass Insurance is necessary to protect your business and personal assets against such worst-case scenarios that could occur. Here are some of the top reasons why your business requires commercial insurance.

It’s the Law

The law in most states across the US requires all businesses to have specific types of insurance depending on the size of the business. For instance, your business is expected to have a liability insurance policy to cover the medical bills of your clients who may get hurt at your business premises.

Failure to carry the legally required business coverage could result in hefty fines, exclusion from the public contracts, and a possible jail term. So, before you think of any other benefit, think about the legal implications if you fail to purchase a commercial insurance policy for your business in Centennial, CO.

To Protect Your Business Property and Assets

The other reason why you should purchase a commercial insurance policy from Compass Insurance is that it protects your business property from disasters and theft. Remember the fact that some of your business equipment is expensive to acquire and without the necessary coverage; you could find yourself in a mess when the worst happens. 

The property insurance coverage is also designed to protect your business premises and everything inside the building. This coverage will protect your enterprise from losses associated with some of the expensive business equipment when the damage is caused by an external covered event.

The Other Party May Not Be Insured

What is the first thing that comes to your mind when the negligence of another person damages your business property? You hope that the responsible party has sufficient insurance to cover the damage. But, what will happen if this isn’t the case? You will need your commercial insurance coverage to help you cover the loss.

Are you a business owner in Centennial, CO? Contact us today for a client-friendly commercial insurance policy.