What does a home policy cover?

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When you purchase a home, you need to buy a homeowner’s insurance policy, also called a home policy. Your financial lender typically requires this insurance while you re-pay your mortgage. This policy protects the bank from losing its investment. If a named peril destroys the house, the bank does not lose money. The term named-peril refers to an unexpected hazard such as a tornado or fire.

Once you repay the mortgage, the bank has no say in it, and you could theoretically drop your coverage, but Anderson Atwood Consulting wants you to understand why you need to keep that coverage. Your Denver, CO home continues to need protection from named perils such as snowstorms, ice storms, fire, etc. If a peril damages your home or property, the home insurance reimburses you for its repair or replacement.

Every homeowner needs liability coverage, too. Once your mortgage gets paid off, you probably want to enjoy your home, knowing you owe no money on it. If an accident occurs at your home, though, you incur the liability and must pay the injured party’s medical bills. They may also sue you for damages. Your homeowner’s insurance policy covers the settlement and medical bills.

Some home policies also cover the other structures on your property. This means the detached garage, workshop, fences, detached home office, etc., receive the same coverage from named perils, liability, etc., as the home itself. They do not receive the same coverage cap, though, since other structures typically provide about ten percent of the home’s value as a reimbursement cap.

Contact Anderson Atwood Consulting serving Denver, CO for more information on home insurance and how coverage can protect your home and your investment in it.

Commercial Insurance Requirements in Colorado

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Colorado Small Businesses

If you have a business in Colorado, there are some insurance policies that you are required to have for that business. However, these often don’t cover everything that you may be liable for in the future. There are many recommended insurance policies that you can add on for full protection. If you’re interested in commercial insurance, call us at Anderson Atwood Consulting in Denver, CO.

Workers’ Compensation Insurance

This type of insurance policy is strictly mandatory for all Colorado businesses that have any number of employees. The law also assumes that anyone who does work for the company is an employee of it. With this insurance in place, medical bills will be paid by it whenever an employee gets injured or sick while on the job.

Commercial Insurance for Autos

The state requires commercial auto insurance for all vehicles that are owned by a business. The coverage must meet the minimum payout standards of the law as well. There is a legal minimum payout amount for bodily injury liability for each person affected and an amount for the entire accident. There is also a required minimum for property damage liability. Even if the business doesn’t own your vehicle, your personal auto policy may not cover any accidents that happen while being used for work if you use it for business tasks. A different policy called the hired, and non-owned policy can protect your vehicle in these cases. 

Getting Your Commercial Insurance

Call us at Anderson Atwood Consulting in Denver, CO to find out more about commercial insurance. There may be multiple commercial insurance types for your small business that you need to have enough coverage to save your financial future.

What is a home inventory and why do I need one

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Nobody likes to think about the bad things that can happen to their home. Every year about 6% of all homeowners file a claim. Filing a claim is not something that anyone looks forward to. Lots of questions and paperwork are involved. About 98% of claims are for property damage, which involves loss of personal property. If you are one of the 52% of homeowners who have a home inventory, you will have a much easier time with your claim. At Anderson Atwood Consulting in Denver, CO, we are locally owned and operated with a mission to always put our customers first. 

A home inventory is a listing of your possessions. It makes it much easier when you file a claim if you have already documented everything. You don’t have to try to remember all of the things you had before your home was damaged, perhaps totally. Picture looking at a pile of ashes and trying to reconstruct what was in each room. 

Creating a home inventory is going to take some time, probably quite a bit of time. But the rewards that will come if you ever have to file a claim are so worth it. You have a couple of options. You can use a pad and a pen or create a digital inventory. No matter which option you choose, photos should be part of it. You also need to include as much backup information as possible in the form of receipts and invoices. Be as detailed as possible, and leave no surface out of the inventory. When you are finished, place the inventory in a safe place, hopefully off-site. 

At Anderson Atwood Consulting in Denver, CO, we are an independent agency, and we can offer you choices. Come by our office or give us a call, and we can give you a free home insurance quote. 

Why should I get health insurance in Colorado?

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People that live in the Denver, CO area are going to have plenty of insurance needs. One form of insurance that needs to be carefully considered is health insurance. This form of insurance will help to ensure that you and your family get access to quality healthcare when it is needed. There are various reasons why someone in this area of Colorado should get a quality health insurance policy.

Health Insurance Ensures Access to Care

One of the most essential parts of overall personal health is seeing healthcare professionals when needed. Whether it is to receive checkups, medication, or to take care of a more severe injury or illness, seeing a healthcare professional can be extremely beneficial. If you have health insurance, you will be given access to this care. For those that do not have this insurance, the cost of care can be much higher. 

Insurance is Required by Law

Another reason that you should get insurance is that it is required by law. For the past few years, it has continued to be a legal obligation for everyone to carry health insurance at all times. Whether you get this through an employer or privately, you will need to provide evidence of your coverage when you file taxes. If you do not have this coverage, you could end up facing some severe penalization.

Ultimately, getting a quality health insurance policy is extremely important for anyone in the Denver, CO area. Due to the importance of this health coverage, you should speak with someone that you can trust when you are looking for insurance. The team at Anderson Atwood Consulting can give you the guidance and support that you need to pick a policy. Anderson Atwood Consulting will provide you with personalized attention to ensure you get the right coverage. 

Why should I get health insurance in Colorado?

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People that live in the Denver, CO area are going to have plenty of insurance needs. One form of insurance that needs to be carefully considered is health insurance. This form of insurance will help to ensure that you and your family get access to quality healthcare when it is needed. There are various reasons why someone in this area of Colorado should get a quality health insurance policy.

Health Insurance Ensures Access to Care

One of the most essential parts of overall personal health is seeing healthcare professionals when needed. Whether it is to receive checkups, medication, or to take care of a more severe injury or illness, seeing a healthcare professional can be extremely beneficial. If you have health insurance, you will be given access to this care. For those that do not have this insurance, the cost of care can be much higher. 

Insurance is Required by Law

Another reason that you should get insurance is that it is required by law. For the past few years, it has continued to be a legal obligation for everyone to carry health insurance at all times. Whether you get this through an employer or privately, you will need to provide evidence of your coverage when you file taxes. If you do not have this coverage, you could end up facing some severe penalization.

Ultimately, getting a quality health insurance policy is extremely important for anyone in the Denver, CO area. Due to the importance of this health coverage, you should speak with someone that you can trust when you are looking for insurance. The team at Anderson Atwood Consulting can give you the guidance and support that you need to pick a policy. Anderson Atwood Consulting will provide you with personalized attention to ensure you get the right coverage. 

Life insurance tips for new buyers

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Buying life insurance for the first time can be scary. With so many options available across Denver, CO, you are likely to get overwhelmed and frustrated. To top it up, you will be forced to think about your death and make the difficult choice of determining who among your loved ones is going to be your beneficiary. It doesn’t get any easier, but when you allow our professional team at Anderson Atwood Consulting to take you through the journey, it becomes much more relaxed and comfortable. So, what are the tips for new life insurance buyers? Here are a few tips to bag home.

Do you need life insurance in the first place?

Many people in Denver, CO consider buying life insurance when they start making significant lifestyle changes in life, such as getting married, having children, starting a business, or purchasing a home.  These are not only big-time lifestyle changes but substantial financial investments. If you have dependents, buying life insurance becomes a priority because you need to cushion your loved ones when you are gone financially.

How will your financial status be in 10 or 20 years to come?

You also want to estimate your financial goals and needs in the coming years to determine the amount of coverage to buy. For instance, if you will have children in college, you may want to ensure that their college fees are sorted. If you have pending loans, you can also add them to be paid by your policy, so you don’t burden your family with your debts.

Where you buy your life insurance matters

For obvious reasons, you can’t buy life insurance from any provider—conduct thorough research before investing your future in any insurance company. Read reviews and enquire about the services provided.

Remember, the younger you are, the better the rates, so don’t wait till it’s too late to get your life insurance policy. Buy now and wait, don’t wait and buy. For more information, feel free to contact Anderson Atwood Consulting today!

How much auto insurance do i need?

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How much auto insurance do I need?

When we start talking about how much auto insurance you need to cover yourself on Denver, CO roads, we are typically talking about budget, lifestyle needs, and preference. Most states, including Colorado, require you to carry some form of insurance with a minimum coverage of bodily injury and property damage liability.

So, how much insurance do you need? Anderson Atwood Consulting is here to answer that question for you. Read on to find out.

First things first

If you have health insurance or life & disability coverage through your employer, then you don’t need to worry about personal injury protection that helps pay medical bills if you or your passengers are injured in an accident where you were at fault. You should be adequately covered with health insurance.

Focus on liability coverage

Did we mention that you can be sued for causing an accident? Well, there is a wide range of things that can get you into trouble, including those beyond your control. Therefore, you have to think about carrying enough liability to help provide coverage in case you are sued.

Consider carrying enough uninsured and underinsured coverage.

Despite being a legal requirement, we still have unconcerned drivers in Denver, CO driving cars without insurance, or carrying very little protection. So, think about a situation where you are involved in an accident, and the other party is not adequately covered. To make things worse, they are at fault. What do you do? Force them to pay? That is where your coverage will save the day.

Comprehensive and collision are similarly significant.

Your car, whether parked or on the road, is at risk of getting knocked, stolen, or vandalized. To give you complete peace of mind, you may need to consider buying enough collision and comprehensive coverage.

Not sure about how much car insurance to buy? Talk to us at Anderson Atwood Consulting, and we will guide you through the process. Contact us today!

Do I Need to Insure My Inventory?

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Anderson Atwood Consulting’s agents have the knowledge and expertise to assist business owners in the Denver, CO area find the right commercial policy for their needs. If a company has any type of inventory, it needs to be protected, just like other assets. There are many different types of inventory. Retail stores have products for sale that must be inventoried. They also have store fixtures and other assets that must be inventoried. Keeping both types of assets adequately insured is essential.

Different Types of Loss

While shoplifting is not covered under many insurance policies, loss due to burglary, fire, water, and storm damage are. Shoplifting retail merchandise is a crime, and its loss can be devastating. This type of loss can be prevented to an extent if specific steps are taken to secure the items and make it harder to move them away from the store. Fire, water, and storm damage are much harder to prevent.

Protecting Your Company’s Bottom Line

There are several ways to protect your company’s bottom line. Installing surveillance cameras and anti-theft tags are just two ways you can keep your merchandise secure. When it comes to protecting other types of inventory, proper maintenance, and keeping an accurate record of every piece of equipment are also good ideas.

In Denver, CO, the agents at Anderson Atwood Consulting can provide you with sound advice on how to keep your inventory secure and protect all of your company’s assets. Visit the office as soon as possible and discuss your options with one of their reputable agents. You will have the peace of mind you need and the security you want. Don’t wait to call! Do it today!

How to Structure Your Home Insurance in Denver

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Your home insurance policy can look very different from your next-door neighbor’s, even though you’re located in roughly the same spot, exposed to roughly the same risks, and likely paid a similar price for the home. If you live in Denver, CO, it all comes down to the way that you structure your policy. Anderson Atwood Consulting is here to provide you with a few tips to understand more about the layout of your policy. 

Extras and Additions 

If you don’t own your home outright, you’re likely required by your lender to have some type of home insurance. However, most lenders are concerned that you get basic coverage for the property. If you want your possessions to be covered from damage or theft, including your electronics and jewelry, you’ll need to ensure that your policy is structured to give you that protection.

Also, you’ll need to consider the events that are listed on the policy. If your basement is flooded, does your home insurance cover it? What about if there’s a tornado? These questions may not be easily answered if you’re trying to page your way through a novel-length policy. 

A More Stable Structure 

The more stable your home insurance, the more stable your home will be. And while you don’t necessarily need to buy every form of protection in Denver, CO, you should at least know what you’re giving up before you sign on the dotted line. 

Anderson Atwood Consulting is here to help you give your policy a refresh, or we can also help you start from scratch if you’re buying your first-ever home. Whatever you’re looking for, contact us today to talk more about what the right policy should look like for your property.