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.

A Guide to Motorcycle Insurance

Motorcycle insurance in Centennial, CO is required. In order to be in compliance with the law, you must carry $50,000 of bodily injury liability insurance per accident and $15,000 for property damage liability per accident.

Why You Need Motorcycle Insurance

Besides being required, motorcycle insurance can help protect you if you get into an accident There are different kinds of motorcycle insurance, besides just liability, that can also protect your bike. Collision coverage will help with the cost to repair your bike if you get into an accident. Comprehensive coverage will help with the cost to repair or replace your bike if it is damaged in an event that is not an accident, or if it’s stolen. Uninsured and underinsured motorist coverage will help if you are in an accident that isn’t your fault but the driver doesn’t have insurance or not enough insurance. Optional equipment coverage can help if you are adding personal touches to your bike to enhance the riding experience. Medical payments coverage can help if you don’t have adequate health insurance or a plan that will cover your needs. This type of coverage will kick in for injuries regardless of who is at fault for the accident. An agent at Compass Insurance can help you determine which motorcycle insurance is best for your needs.

Factors That Impact the Cost of Motorcycle Coverage

The model and make of your bike can affect coverage. In order to lower premiums, have a good credit score along with good accident records. One of the most significant factors when determining cost is your age. Statistics show younger riders are more likely to get into an accident, so premiums can be higher. The security measures you take to protect your motorcycle will also play a role. Where you store your motorcycle and if there are anti-theft measures can lower or raise premiums.

Contact Compass Insurance, serving Centennial, CO, to get a quote on motorcycle insurance. 

What is Toy Insurance?

Adults have toys too, though they may vary greatly from children’s toys when it comes to function and size. Machinery and vehicles like motorcycles, snowmobiles, boats, classic cars, ATVs, RVs, etc. may be classified as "toys" instead of regular vehicles, though that doesn’t mean they should not be protected in the traditional sense. 

We’re talking, of course, about toy insurance. If you live in the Centennial, CO area. Compass Insurance is here to help you and your toys get the coverage you need. After all, you’ll want to be able to play with them for a long time!

But what exactly defines "toy insurance"?

The Basics

Vehicles and craft machinery may qualify for toy insurance if they are used for strictly recreational use. This is especially true when they are not used for regular driving purposes and are subject to frequent off-road speeding and stunts. 

Toy insurance is like other forms of vehicle insurance in that it keeps both you and your "toy" covered in the event of an incident. 

Types of Coverage

Now, the exact kind of policy you need will depend on the toy vehicle itself and what kind of risks there are. For example, insurance coverage between an ATV and a speedboat are naturally going to have a lot of difference in the details. That said, the general areas of coverage are going to be the following:

Liability– Applies to bodily injury and property damage.

Comprehensive: Covers non-collision forms of damage, such as that from theft and vandalism or fire.

Collision: Covers damage caused by a collision or "accident".

Underinsured / Uninsured: Provides coverage in the event that the other party involved does not have adequate coverage. 

Taking the Next Step

Whether you’re ready to start exploring your toy insurance options or simply want to learn more, contact the experts at Compass Insurance today! Serving clients in the Centennial, CO area and beyond, we’re here to help!

What Voids a Boat Insurance Policy?

Boat insurance is something that is fully necessary if you have a watercraft that you routinely take on the water. This type of policy protects you from a range of issues like wrecks, hitting things that are up out of the water, and damages that are caused by fire and weather. There are a few different things that can be done to make a boat policy ineffective and to guarantee that you are not going to be able to cash in on your boat policy. For those that live in the Centennial, CO area, the agents with Compass Insurance can help you to find the right boat insurance policy for your boat.

There are a few different instances in which your insurance company is not going to pay out on a claim. The first is if the claim is obviously something that you caused or did intentionally. This could be setting your boat on fire, wrecking on purpose, or intentionally causing damage to your boat in the hopes of being able to collect insurance. There are also cases that your policy can lapse or become void. This might be is you stop paying, you miss too many payments, or your insurance company finds out that you provided false information that might cause them to void or cancel the policy.

If you have a boat you need to have some sort of boaters insurance to protect both you and your boat. The right boat policy is going to protect your boat and is going to protect your passengers and yourself as well. For those that live in the Centennial, CO area, the agents with Compass Insurance can help you understand the ins and outs of your personal boat insurance policy to make sure you are covered.  

Is there insurance that can protect me if my off road vehicle causes an accident?

You get a lot of chances for adventure in and around Centennial, CO, and you don’t want to slow down because you aren’t protected. At Compass Insurance, we assist our customers with many kinds of insurance needs, including insuring off-road vehicles like ATVs, dune buggies and even golf carts.

A good recreational vehicle may be expensive, and it could potentially cause a large amount of damage like any vehicle can. But off-road vehicles are fun to ride, they can get into places a regular vehicle can’t, and they save a lot of money on gas.

Following the rules

Driving an off-road vehicle can seem rebellious, but there are some rules you can follow that will make the experience safer, so you can keep doing it for a long time.

For instance, you shouldn’t take a passenger on an ATV, or drive the ATV on a regular paved road with regular vehicles. Wearing protective gear is also important.

Do you need ATV insurance?

You aren’t legally required to get ATV insurance in Colorado, but you have to ask yourself what you could lose if you don’t have insurance when you need it. Your injuries and/or damages probably won’t be covered under your auto or homeowners policy, and the expenses could add up.

It’s easy to damage your ATV by running over a stone or into a tree, and ATVs are vulnerable to theft and vandalism. You won’t know for sure until you look at your policy and talk to your agent, but if you want to ride an off-road vehicle in Centennial, CO, it is better to be safe than sorry. If you have any questions or would like to talk about a policy suited to what you need, call Compass Insurance today.

Why You Should Include Collision and Comprehensive to Your Motorcycle Insurance Plan

Purchasing a motorcycle can be thrilling for owners, with gas mileage so good that the open road can last right on for miles. While you are out taking on the open road, make sure that you have quality insurance on your motorcycle. While liability is only required in the state of Colorado for owned bikes, expanding past the minimum can protect yourself and any passengers you may be carrying. If you live in or around the Centennial, CO area, upgrade your motorcycle policy today to include collision and comprehensive with a policy from Compass Insurance. 

What does collision cover? 

In the event that you are in an accident with another bike or vehicle, damage to your bike will be covered. If your bike is a total loss from damages, you will be covered for the value of the bike so that it can be replaced. Even if you are in an accident with an uninsured driver, your own policy will ensure that you are provided the proper value and the ability to replace your motorcycle. For accidents that do not have collision coverage, you are not able to gain compensation on your motorcycle damages.

Why is comprehensive important?

Unfortunately, damage can be caused to your bike that is not accident related. If something falls onto your bike causing damage or it is stolen, you will be cover for the damages costs or a bike replacement like collision insurance. For those who lose their bike to theft without comprehensive insurance, there is no value replacement on the bike, leaving the owner completely responsible for the loss of the bike. 

Get Covered Today

Protect your motorcycle investment today with collision and comprehensive coverage. Compass Insurance proudly serves the Centennial, CO area and has a policy ready for you today. 

Is Boat Insurance a Legal Requirement in Colorado?

When the spring thaw comes many people will be considering buying a boat or enjoying the one they have stored for the winter. Boating is a great way to enjoy the great outdoors in Colorado, however, it is important that you stay safe and up to date on the newest regulations. At Compass Insurance we want you to have the most fun this summer on your boat, but safely so your person and your property is not damaged in the process. We serve Centennial, CO and the surrounding area with quality insurance for all aspects of your life. 

Is Boat Insurance Required, Legally?  

In the state of Colorado, you are not legally required to carry boater’s insurance in order to operate your boat or to receive a registration. However, due to the nature of the sport, it is highly recommended that you insure your boat for your own safety net in case something occurs on the waters. There is nothing like losing your property to halt all fun, or being liable for someone else’s property in an accident. Boater’s insurance can have your back if something goes wrong on the water.

Boating requirements do include the rule that you must be registered with the state and receive a registration number that is displayed on the vessel. A Boater education card proves you took the courses for safety and knowledge of state laws. Be sure to do these two things and legally you can enjoy the water. However, insurance is always the best idea. 

Contact us at Compass Insurance to find out about boat insurance rates and what sort of coverage you want. We serve Centennial, CO and the surrounding areas. 

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.

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.