4 Ways to Secure Your Boat at Home

Many Colorado boat owners living in or around Centennial, CO store their boat during the winter months with hopes to keep it secure until boating season comes back around. At Compass Insurance, we’ve found four ways for you to keep your boat secure when you are not taking advantage of the water. 

Lock the Boat Trailer and Make it Unmovable

Once you have loaded your boat one last time and are locking it away until warm weather returns, make sure that you lock the boat trailer it is on. A boat lock prevents thieves from backing their truck up to the trailer and taking off with the boat.

Location is Important

If you are planning to store your boat at your home, make sure that you put it in a place where it is not easy to access for stealing. Tucking it in a corner on the backside of your home or locked in a fence will deter most thieves because of the difficulty of trying to access the boat. 

Get a Boat Cover

Whether you are planning to store your boat at home, in a storage facility, or at a marina, it is best to have a full boat cover on your boat when it is not in use. This is simply to keep others from taking advantage of your graphics and features while it is being stored. 

Install an Alarm

Boat alarms are now as easy to install and track as any other alarm system that you can purchase. If your boat is stolen, you will be able to alert the authorities immediately and track the boat. 

Get the Boat Insurance You Need

When you purchase boat insurance, you really are securing your boat and protecting your investment. If you live around the Centennial, CO area, call our agents at Compass Insurance today for more information. 

How Do Centennial Businesses Benefit from Commercial Insurance

The city of Centennial, CO is well known for having a great local economy and plenty of tourist traffic. Due to these factors, it can also be a great place to start and own a business. While there is a lot of potential for success in this area of Colorado, business owners should still make sure that they have a quality commercial insurance policy. A full commercial insurance policy can benefit a company in many different ways. 

Reduces Your Concern of Liability

All business owners are going to take the proper steps to ensure they deliver quality and safe produce. However, accidents do happen from time to time. In these situations, the business owner could be found liable if a customer suffered an illness or bodily injury. When you have a commercial insurance policy for your company, it will give you coverage for liability. This will drastically reduce your liability risk.

Covers Your Company Assets

To get your business up and running, there is going to need to be an investment in inventory, equipment, and other assets. Businesses that lose these to theft, fire, bad weather, or another unforeseen issue could be financially devastated. Due to this risk, you need to keep a full commercial insurance policy at all times. This insurance will protect you and make sure that you continue to have financial support if your business assets do incur these types of losses.

Those that are in the Centennial, CO area will find that choosing the right commercial insurance policy can be complicated. Because of this, it will make sense to work with a seasoned insurance professional to choose a good policy. Compass Insurance is a great resource for anyone in the area. Compass Insurance will explain all of your options and help you to get into a good policy. 

Three factors to consider regarding your auto insurance policy limits

One of the biggest considerations to take into account when you’re purchasing auto insurance is what your coverage limits are. Your coverage limits are the maximum amount a claim can be worth for various expenses such as medical bills and property damage, for example.

There are numerous factors that could influence what the claim limits should be for a policy in Centennial, CO from Compass Insurance. The following are three of the most significant factors influencing auto insurance policy limits: 

State laws

Each state sets its own mandatory minimum coverage amount when it comes to auto insurance. In the state of Colorado, motorists need to carry limits of at least $25,000 for bodily injury. It’s also required to have at least $50,000 of coverage per accident and $15,000 of coverage for property damage. 

The value of your vehicle

If you have collision coverage, the value of your vehicle should determine your needed coverage limit for this type of coverage. Your collision coverage limit should be any less than the value of your vehicle. This way, you could potentially be compensated for all of the collision damages your vehicle experiences if it is declared a total loss after an accident. 

Your budget

Of course, you’ll ideally want the highest limits possible to make sure any expenses resulting from an accident are covered. However, you may be limited by your budget. The higher your coverage limits are, the more expensive your policy is going to be.

You need to consider the resulting monthly premiums you’ll be required to pay for corresponding coverage limits. Then, choose the coverage amount that is affordable to you and offers the best value. 

If you’d like to explore our policy limit options for insurance for Centennial, CO motorists, get in touch with us at Compass Insurance. 

Reasons to Get a Colorado Home Insurance Policy

Centennial, CO is a wonderful community to live and work. Along with this, it can be a great place to buy a home as there continues to be a lot of potential for asset appreciation in this city. If you are going to purchase a home in this area, you also need to make sure that you are properly protecting your assets. The best way that you can do this is by getting a full home insurance policy as they can protect you in several different ways. 

Ensures Home is Protected

Similar to those that are in any other area, there is always a risk in Centennial that you could suffer a loss due to fire, bad weather, theft, or even vandalism. Since these risks are always present, it would be a good idea to protect your home with insurance. When you have a home insurance policy, you will get coverage against all of these risks.

Liability Mitigation

If you own a property and someone is injured while on your premises, you could be found liable for any damages. Since this is a risk that all people take on at all times, it is important to get good insurance coverage for these situations. This will protect you well against liability concerns that come with homeownership.

If you do buy a home in the Centennial, CO area, it is clearly very important that you get a good home insurance policy to cover it. To make sure that you get the best policy possible, you should contact the team at Compass Insurance. The team of insurance professionals at Compass Insurance can handle all of your home insurance needs. This will make sure that you get into a home insurance policy that protects your valuable asset and gives the liability protection that you need to have peace of mind. 

What is Toy Insurance and Why Do I Need It?

When you think of toys do you picture dolls and action figures, ponies and monster trucks? Or do you picture grown-up toys like ATVs, dune buggies, and watercraft like speed boats and jet skis, because these are the toys you want to insure. Compass Insurance serving Centennial, CO is here to help.

Toy Insurance Explained

Toy insurance is a type of insurance that covers your recreational vehicles and crafts like four-wheelers, fishing boats, snowmobiles and various other types of off-roading and seasonal machinery.

If the vehicle spends most of its time in storage, only coming out when the seasons change or the mood strikes, it likely qualifies for toy insurance. This helps keep you and your craft protected in case of an accident while in use. 

It comes is the same varieties as auto insurance:

  • Liability Coverage

  • Comprehensive and Collision

  • Uninsured/Underinsured

  • And Supplement/Additional Coverages 

Why You Need It

As with most toys, we tend to share them with friends and family. This can be fun for everyone, but when a user has an accident, gets injured or damages your toy, who pays for it? Toy insurance, hopefully. No one wants to have to foot the bill to repair or replace a broken toy.

Having the right type of toy insurance can help keep you, your friends and family and your toy out of the woods in case someone takes a spill. 

How to Get Toy Insurance

If you’re in or around the Centennial, CO area and you want to protect your toys you’ve come to the right place. Compass Insurance can help you find the right type of coverage for your toys with they’re in storage and when they’re in use. Talk to an agent today to learn more.

What To Do About Insurance When Customizing a Motorcycle

Customizing a motorcycle is fun but it may also be a significant investment. If you are making custom modifications of your motorcycle, be sure to inform your insurance agent at Compass Insurance serving Centennial, CO and the surrounding area.

How to Increase the Value of a Motorcycle with Custom Work

Custom work on a motorcycle adds value when the additions are more useful to others. For example, if the seat is worn out, installing a new one is an obvious improvement. New hand grips, a new headlamp, and turn-signal lights are very helpful improvements too. Other practical additions, such as a fly screen also add some value.

A new paint job should increase the value. However, be careful when doing custom paint jobs because beauty is in the eye of the beholder. You may love the dragon with flames painted on the gas tank; however, others may think it looks stupid. It is better to stay with solid colors with a bit of design flair in the racing stripes and trim but do not go overboard with a specific image.

The increase in the value of the motorcycle may not be enough to include the value of the labor to make the custom work. If the custom work is very expensive, then you may need to get a certified appraisal from an appraiser acceptable to the insurance company.

When possible, use original manufactured (OEM) parts. If you choose to install aftermarket parts, make sure they are high quality and as close to original parts as possible. Heavy customization with non-original parts might make the value of the motorcycle go down. If you change out original parts with custom parts be sure to save the original parts so that you can change them back when you a ready to sell the motorcycle if this helps get a better price for it.

Contact your agent at Compass Insurance in Centennial, CO to get a motorcycle review and a quote for motorcycle insurance.

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!