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What does my Colorado umbrella insurance cover?

Colorado Umbrella Insurance

When it rains, it often pours. That’s why it’s important to have an umbrella and know what your Colorado Umbrella Insurance policy covers.

Umbrella insurance serves the same purpose. These policies add extra layers of protection. It extends beyond the limits of coverage provided by homeowners and auto insurance plans. When these have been exhausted, umbrella insurance kicks in to keep you covered.

Although these plans can provide new coverage that is excluded under other policies, umbrella insurance mostly adds to existing protections. Umbrella insurance is about preparing for the worst.

Aspen Gold Insurance Brokers experienced insurance agents are waiting to help. Their insurance agents outline four items that are better served with an umbrella insurance policy.

Bodily or personal injuries

This covers the cost of expenses when another person’s bodily injury is caused by you. Medical bills and lawsuit claims are two examples where these policies are most useful.

Property damage

If you are determined to be at fault for damaging someone’s property, liability is available. This is especially important for auto accidents, when your standard policy limit may be insufficient.

Protects against certain lawsuits

Coverage is provided for specific legal issues as well. This could include being sued for slander or libel. It may also help if you are wrongly accused and arrested for a crime.

Safeguards the entire family

It’s important to note that these protections don’t just apply to the policyholder. They also extend to other members of your family. Review your plan to see how your individual policy defines a household.

Reach out to an insurance agent serving Colorado

Aspen Gold Insurance Brokers understand that protecting yourself, your family, and your assets is a top priority. Homeowners and auto insurance plans often just scratch the service. Their experienced agents can add an umbrella policy to keep you safe and secure. Contact Aspen Gold Insurance Brokers today.

Is Your Motorcycle Ready for Winter?

Motorcycle ready for winter

Whether you’ve lived in Colorado for ten years or ten days, you know the weather can change in a moment. As you hit the road one last time before temps drop, it’s essential to ask if your motorcycle’s ready.

What are the best ways to put your bike into hibernation until warm weather returns?

Service Your Bike

Perform a thorough inspection of your battery, belts, chains, tires, etc. Allowing dirty oil to sit in your bike all winter can damage your engine.

Give Your Bike a Bath

Chrome, paint, and leather need to be treated with care when prepping for winter. Grime and tar staying on your bike all winter equal a recipe for disaster in the springtime.

Update Your Storage Address

Make sure to update the insurance policy to reflect the correct address where your bike will be stored. That simple change may result in premium reductions if your bike is being stored in a secure garage versus on the side of your house.

Some riders wonder whether they can save a few more dollars by dropping motorcycle insurance or lowering their coverage when they aren’t riding.

What about a “lay-up” policy for the winter?

Pausing liability and collision coverage might make sense in the winter when you take fewer riding risks. But it’s important to remember that vandalism, theft, or other incidents can happen all year round.

Should I raise my deductible in the winter?

Consider the short-term win versus long-term implications of needing more cash on hand if an incident arises. While many people think it’s a great way to save money, there could be some catastrophic downsides that will cost you more in the long run.

Instead of thinking you need to know all your motorcycle-related answers, ask your agent. Serving Broomfield, CO for all your insurance needs, be sure to contact Aspen Gold Insurance Brokers.

How Much Life Insurance Is Enough?

Life Insurance

Procuring a life insurance policy in Colorado is a prudent move that ensures that financial difficulties do not overburden your family and loved ones. The amount of life insurance you require depends on your personal and financial situation and should account for your beneficiaries and daily living expenses. Generally, life insurance is essential coverage whose primary purpose is to provide financial backup upon your untimely demise. Are you among residents of Colorado who are confused about the amount of life insurance they need? Keep reading as Aspen Gold Insurance Brokers educate you on the parameters needed to gauge the amount of life insurance you need.

What the correct amount of life insurance?

Have you ever wondered what the correct amount of life insurance is good enough for you in Colorado? Possessing too little life insurance could expose your family and loved ones to not be self-sufficient in the event of your unfortunate demise as a breadwinner? The most demanding part of choosing sufficient life insurance is establishing your beneficiaries’ amount of money.

The minimum amount of coverage you need may be different from what someone else needs. Financial experts recommend buying ten to fifteen times your annual income in coverage, though your number may be higher or lower. It is also wise to consider the following factors for choosing the life insurance you need.

Debt

Life insured can be employed to clear outstanding debts, including mortgages, car loans, student loans, and personal loans. If, as a policyholder, you bear any of these loans, your policy must include enough coverage to pay all these outstanding arrears in full.

Income replacement

One of the most crucial factors to consider when determining your life insurance coverage is replacing your income. For resistance, if you are the sole breadwinner for your dependents, and you generate about $40,000 annually, you require a policy payout that is big enough to replace your income and a little extra to cushion against inflation.

Most insurers advocate for a reasonable amount for life insurance to be six to ten times the annual salary. Another formula for ascertaining the amount of life insurance you need in Broomfield, CO is multiplying your annual salary by the number of years left before retirement.

It’s crucial to ascertain the amount of life insurance one requires if you intend to buy this policy in Colorado. Please contact our charismatic agents at Aspen Gold Insurance Brokers for any queries and more information about life insurance.

Does Health Insurance Cover Annual Exams?

Health Insurance Cover Annual Exams

One of the best ways to keep up with your health is to get annual exams that help you remain knowledgeable about your health. The earlier you know about a health issue, the earlier you can make decisions about your health. This is why preventative care is part of most health insurance plans.

Aspen Gold Insurance Brokers know that you take your health seriously. If you live in Denver, CO, this is what you need to know about health exams and your insurance coverage.

What Is Considered an Annual Exam?

If your healthcare policy claims to cover annual exams, this means that the company covers routine checkups or preventative care exams. Most health plans do cover one preventative or routine exam per year. Additional wellness exams may be covered for women and children, but it is important to discuss your specific coverage with your insurance agent.

There is a caveat when you are dealing with coverage. For these exams to be covered, you typically have to visit a doctor who is considered to be in your insurance company’s network.

Does Insurance Cover Preventative Care?

Some health insurance policies do cover preventative services, including vaccines, screenings, mammograms, and pap smears. The goal is to prevent health issues early on so that you do not have to deal with them later. Each health insurance policy is different. Insurance companies often cover preventative care because they want to detect issues as early on as possible.

Do you have questions about what your health insurance will cover? Do you want to make sure preventative care is covered? If you live in Denver, CO, and surrounding Denver Metro area, reach out to Aspen Gold Insurance Brokers for more information.

How Commercial Insurance Benefits The Hospitality Industry

Commercial Insurance Benefits

Aspen Gold Insurance Brokers proudly serves the Colorado Community. We offer our clients different policies to help protect their assets. We treat our clients like family, and our personalized approach allows us to meet their needs as they evolve over time.

How Commercial Insurance Benefits the Hospitality Industry

Commercial insurance assists Colorado residents. Your business is one of your most significant investments. While you focus on maximizing profits, commercial insurance protects your business if an emergency arises. The policy covers you if your physical property is damaged. All of your equipment is covered if it is stolen. In the unfortunate event that something happens to one of your clients while they are visiting your business, you can rely on liability insurance.

Commercial insurance protects your business in multiple ways if you are working in the hospitality industry. You constantly strive to ensure that your customers enjoy a safe and comfortable experience. Business interruption insurance covers your business if you have to cease operations for a few weeks. Perhaps a severe snowstorm passes through the area and damages the property. You can also add crime coverage to protect your business against allegations of theft and fraud. If you serve adult beverages, add extra coverage to protect your business against possible legal action due to intoxication. If you operate a hotel, your customers trust you to protect their valuables. Guest property coverage protects your business if any of your customer’s personal belongings are damaged or stolen. You can also add umbrella coverage to provide another layer of protection if a serious issue arises.

Aspen Gold Insurance Brokers Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance. Our experienced insurance agents are here to educate you on the commercial insurance benefits and find the best commercial insurance policy that is customized to fit your insurance needs.

Is Boaters Insurance Required in Colorado?

Boaters Insurance

Boaters in Colorado can get out and enjoy the great outdoors and have fun with friends and family on local lakes and rivers. We here are Aspen Gold Insurance Brokers want you to have a safe, fun, and exciting summer on your boat. That includes ensuring you have proper boaters insurance coverage to protect yourself, your family, and your property.

Am I Legally Required to Have Boater Insurance?

Boat owners in Colorado are not legally required to carry boaters insurance to operate their boat or register it. However, as a safety net, it is highly recommended you have boaters insurance if something happens while out on the water.

If you are financing your boat, your lender may require you to carry boater insurance while still making loan payments. Additionally, if you store your boat in a marina, the lease agreement for your space may require you to have boater insurance.

What is Boater Insurance?

Those with motorized boats or sailing vessels can opt to purchase boater insurance. Similar to automotive insurance, boaters insurance covers your boat if it is stolen or damaged in an accident. Investing in affordable insurance helps avoid the risk of facing substantial financial costs associated with a boating accident.

How Much Does Boater Insurance Cost?

The cost for boaters insurance varies, depending upon several factors. Some factors include the boat’s size can be used, your driving record, the amount of coverage, and the amount of your deductible. Call us today at Aspen Gold Insurance Brokers for additional information about how much boaters insurance costs.

Boater insurance helps cover you should something happen while out on the water in Colorado. Call us today at Aspen Gold Insurance Brokers for more information about purchasing boater insurance for your vessel. We will ensure you have proper coverage for your property, yourself, and your loved ones.

Tips to Keep In Mind When Getting Home Insurance

Getting Home Insurance

Numerous first-time homebuyers forget to budget for their home insurance, waiting until the last minute to get coverage. If you are in the process of buying a house within Broomfield, CO, make it a point to prioritize your home insurance to get the proper protection for your property. Below, Aspen Gold Insurance Brokers takes you through various tips to keep in mind when getting your home insurance.

Understand What Your Policy Covers and What Its Exclusions

Home insurance can often seem like it primarily benefits the structure of your home, while in reality, it also offers other protection mechanisms. Some of these include paying for your personal belongings when covered perils arise and providing additional living expenses when your home is no longer habitable due to damages caused. Unfortunately, not every emergency will be covered. Flooding and earthquakes are some exclusions you will encounter, instances that will require extra coverage.

Bundle Your Policies Where Possible

If you need multiple policies to cover your home and vehicles, bundling your policies will be an ideal alternative to purchasing them separately. When bundled, you are likely to receive comprehensive coverage for multiple items on your property, helping you get sufficient compensation to cater to damage costs when disasters occur.

Review Your Insurance Frequently

Your home insurance needs to factor in your life and property adjustments as the years go by to ensure you get the right coverage for your needs. Due to this, make it a point to review your insurance frequently, with various changes likely to affect your policy. Aspects such as home renovations call for an adjusted policy, while others, such as the addition of a family member, mean getting updated coverage to cater to the changing needs of your family.

If you reside within Broomfield, CO, and are looking for customized insurance to protect your investment, call Aspen Gold Insurance Brokers today for home insurance designed with your specific needs in mind.

When is motorcycle insurance needed in Colorado?

Motorcycle Insurance in Colorado

While the winter months in Denver, CO can come with a lot of snow, the rest of the year tends to be mild and offer a lot of opportunities to have fun outside. Due to this, owning a motorcycle in this area of the state can be a good option and mode of transit. Those that would like to buy a motorcycle here will need to have insurance for it. A motorcycle insurance plan is needed for a few reasons.

Coverage Offsets Liability Risk

A key reason to get a motorcycle insurance plan in this area of the state is so you can offset your liability risk. If you make a mistake that results in an accident while you are driving your motorcycle, you will need to cover the damages. The liability component of your insurance plan will provide coverage to offset this risk. Due to the importance of it, you will also be required by the state to maintain this coverage.

Protection for Motorcycle

You should also get a motorcycle insurance plan to protect the motorcycle. Those that are going to operate a motorcycle regularly will want to be protected if it is damaged or stolen. With collision and comprehensive coverage, you will get insurance protection to mitigate and offset this risk.

A Denver, CO motorcycle owner will need to have insurance in basically any situation. If you would like to learn more about your insurance needs and options, calling Aspen Gold Insurance Brokers can be a good option. Those that do call Aspen Gold Insurance Brokers can learn a lot more about the different types of coverage that are available. The team will also offer the guidance that you need to choose a plan that provides you with the right protection for your motorcycle. Contact our experienced insurance agents today to get the best rates and policy for your specific needs.

Umbrella Insurance Limitations to Consider

Umbrella Insurance Limitations

As a Broomfield, CO business owner, you may want an umbrella insurance policy to protect you. We at Aspen Gold Insurance Brokers can help you not only understand your coverage options but your limitations as well.

Are There Umbrella Insurance Limitations? 

Let’s start by defining an umbrella policy to give you an idea of what it means. First of all, this type of policy is well-named because it is designed to cover your insurance policies by providing additional coverage when they go into effect. They are designed specifically for liability problems that may cause, including issues such as:

  • A physical injury on your property which you caused
  • Business-related issues that go beyond your standard policy
  • Health issues caused by something that you or your business did
  • Other liability problems that your policies do not cover

Typically, an umbrella policy goes into effect AFTER your other policies have reached their limits. For example, if you get sued in a liability case for $50,000, and your standard liability policy only covers $15,000 in liability, you’d owe $35,000 without an umbrella policy. However, these options do have limitations that are important to consider, including:

  • Not covering non-liability issues
  • Problems that are caused to you by others
  • Health problems you may suffer

Remember – an umbrella policy is designed as liability for you or your business. Most of the time, these policies are put into place to protect companies from claims such as libel, false arrest, slander, wrongful eviction, and potential auto problems caused by your business operation. Your policy company will put in other restrictions based on factors like your copay and much more.

Are Umbrella Policies Right for You?

If you need an umbrella policy in Broomfield, CO or the surrounding area, contact us at Aspen Gold Insurance Brokers right away to learn more about your options as a business.

Is Full Coverage Insurance Required for Motorcycles?

Is Full Coverage Insurance Required for Motorcycles

Our team at Aspen Gold Insurance Brokers hears from a lot of motorcycle owners who want to find out if full coverage is required on their policy. The truth? No, but it might be. Here’s what you need to know about buying motorcycle insurance in Colorado.

Is Full Coverage Insurance Required for Motorcycles?

In general, so-called full coverage insurance is not required for motorcycles in Colorado. When we say full coverage, we simply mean carrying comprehensive and collision coverage. The only type of insurance you’re required to have to stay legal on the road is a liability, which pays to take care of the other person’s medical bills and property damage if you’re involved in an at-fault collision.

Comprehensive covers the cost to repair your bike if it is stolen or damaged by an act of nature, such as a storm or hitting an animal. Collision pays to fix your motorcycle if it physically collides with another object, such as another car, fence, light pole, etc. Both comprehensive and collision are optional on motorcycle policies.

Why You Might Need Comp and Collision Anyway

That said, there is a caveat to this. If you are still making payments to a lender, there’s a good chance they’ll require you to carry comprehensive and collision on your motorcycle insurance policy. Why? They have a monetary investment in your bike. If something happens, they want to make sure you’re able to get it repaired through your policy so that their financial interests are fully protected. However, if you really love your motorcycle, you’ll probably want this added protection anyway.

Are you ready to ensure you have the right motorcycle insurance coverage for your needs? Please contact our experienced team of insurance agents at Aspen Gold Insurance Brokers in Broomfield, CO to schedule an appointment.