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3 Tips for Understanding Personal Property Coverage

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Our team at Aspen Gold Insurance Brokers has put together this easy-to-understand guide regarding personal property coverage and your Colorado homeowner’s insurance policy.

Tip #1: Understand What It Covers

Personal property coverage refers to the items that you own—i.e. your clothes, shoes, furniture, electronics, toothbrush, and even your dog are all considered personal property items. For the most part, these belongings are covered under a blanket figure on your policy. However, certain larger cost items—like guns, jewelry, artwork, computers, and furs—might need special consideration and a discussion with your agent.

Tip #2: Know Your Policy Limits & Details

Another important tip regarding personal property coverage is to understand your limits and the different types of coverage listed. As mentioned above, most homeowner’s policies have a cap limit on how much all of your belongings together would cost to replace. However, the policy also usually dictates how an adjuster would come up with values for each of those individual items.

Actual cash value (ACV) refers to items that will only be reimbursed for what they were worth at the time of the loss. Replacement cost value (RCV) refers to what it would cost to buy the modern version of an item at a store today.

Tip #3: Document Anything Excessive or Out of the Ordinary

Should a claim occur, the onus is on you and not your insurance company to prove the items you claim were actually owned by you. In most cases, household belongings considered reasonable and necessary won’t need definitive proof, but anything excessive or out of the ordinary will likely need photos, receipts, or a combination thereof for reimbursement. Keep a record of these items and store it in a safe place, like a fireproof box or digitally.

Interested in learning more? Contact Aspen Gold Insurance Brokers today for your no-obligation Colorado homeowner’s insurance quote.

How Much Insurance Does A Business Need To Survive A Business Loss?

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Colorado business owners look at their companies as a means of support as well as being their livelihood. A financial loss can be devastating causing a person to lose much more than their business. Commercial insurance policies are designed to help a business prevent a survive a business loss from disabling or destroying a business. It allows the company to regain its bearings and push forward with the rebuilding process. The agents at Aspen Gold Insurance Brokers can help a company determine how much commercial insurance coverage they need to adequately keep the business alive after a devastating financial loss.

A loss can take many forms, such as weather damage, fire, accidental injury or even burglary. Many losses are unexpected and business owners have little they can do to prepare for the loss. Commercial insurance can take care of many types of losses if the right amount of coverage is purchased. In most cases, insurance agents determine the amount of insurable worth as the value of the business and the amount of estimated profits for approximately six to eight months. While the insurance may not reimburse for the entire amount, it will provide the business owner with the money needed to rebuild the business and operate for a few months after they are back in operation.

Although this type of loss is rare, the ability to rebuild and operate the business back to a successful state is vitally important to the company owner. The agents at Aspen Gold Insurance Brokers can help Colorado business owners protect their commercial interest and prevent devastating financial loss. Knowing the value of the business and what will be needed to help it survive a business loss  is important information that an owner needs to know. 

Learn more about commercial insurance check out our additional blogs.

The Pros and Cons to Buy Used vs. New Car

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The toughest decision for residents of Westminster, CO is whether or not to buy used vs. new car. Often, the answer centers on the current state of their financial situation. After looking at the numbers, it’s smart to choose the cheaper, older option, but others are willing to pay more money for a flashier, new automobile that best fits their personality.

Neither is a wrong decision because owning and operating a car is an expensive proposition. If you’re still undecided, then it’s wise to gather all of the information from an agent with Aspen Gold Insurance Brokers before making a huge financial commitment.

Here are the pros and cons to buy used vs. new car:

Resale Value

Buying a late model used automobile offers the best value in today’s market because every vehicle takes a huge depreciation once it’s driven off a Westminster CO car lot. Obviously, the sales price will be lower, but other expenses should be decreased as well, such as insurance and sales tax.

Reliability

Used cars are becoming more appealing due to their improved reliability to stay on the road. Independent studies have shown automobiles that are at least five-years-old had fewer mechanical issues than the newer models. If properly maintained, these vehicles can easily go past 100,000 miles, and in some cases, they can reach the 200,00 mark without ever needing any major repair work.

Warranty and Repairs

The unknown factor in all car purchases is pinpointing the time for the first repair. Its smart to put money aside that will cover the cost for wear-and-tear (tires, brakes, etc) repairs on used automobiles. Newer cars have fewer mechanical issues, and the majority of them are often covered under the umbrella of a comprehensive warranty package. You must decide if the savings from a used car purchase is worth the added expense of repairs down the line.

Interest Rates, Insurance, and Safety

Acquiring a loan for a new automobile does come with a lower interest (six percent compared to seven percent) rate than for a used car. An insurance package designed by an agent with Aspen Gold Insurance Brokers for a used automobile won’t be as extensive as required in a new car purchase. Fewer safety features are found in used cars, as frontal airbags that deploy during an accident aren’t available.

The Ideal Auto Coverage for Mountain Driving

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Broomfield, CO is located just northwest of Denver and just south of the city of Boulder, CO, meaning it is on the edge of the Rocky Mountains. Not only is it a beautiful place to live but it also means that you will definitely need a car to get around either metropolitan area and will probably face some rather inclement driving conditions on somewhat treacherous mountain roads. So you will definitely need an auto insurance policy from a local broker like Aspen Gold Insurance Brokers, who serves the greater Denver, CO area. However, there are certain types of auto insurance policies that will be more helpful than others when mountain driving in Colorado. These are listed below.

LIABILITY INSURANCE

With curvy roads and ice and snow throughout a good portion of the year, there’s no telling what could happen to you while driving at certain times, so you will definitely need insurance to cover you if the unavoidable accident occurs that will be deemed your fault. This will not only protect you from having to pay for damage and medical bills, but it will also protect other people you may collide with, so that they are properly taken care of if this occurs.

COLLISION INSURANCE

There is the chance that someone hits you in an accident and doesn’t have insurance or takes off and you don’t get their insurance and are left having to pay for it yourself. Or an animal runs out in the road that causes you to have an accident, or you slide off the road into the woods and wreck. To make sure you are covered from this unpredictability that could very well happen in a place like Broomfield, CO, you should add collision insurance to your overall insurance policy, Better safe than sorry! Reach out today for a free insurance quote.

How Home Insurance Can Help Keep You Safe in Colorado

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Westminster, CO is not a dangerous town by any stretch of the imagination, but it does have certain things happen in it that people would rather not occur. Criminals, weather and lawsuits happen every once in a while, and many people don’t realize just how much home insurance can help in these types of nasty situations. Aspen Gold Insurance Brokers wants to bring you more information on how it all works.

Safety on the Streets 

When a person sees a broken window, there are a number of things that may run through their head. If they see a whole street of broken windows, they may think that no one is paying attention to what’s happening there. Home insurance gives every person on block the means to fix whatever has happened to their property. Whether it’s a branch crashing on a roof after a bad storm or repainting over graffiti that was left by teenagers with too much time on their hands, it may be of more assistance than you think. There’s a lot of power in responsibility to provide safety for the whole neighborhood rather than just one house.

Home Insurance Safety for You

If your foundation is unsteady, then you may be risking the lives of the people inside of it. When structures fail, it can hurt other people. Don’t leave that kind of danger to chance when you have home insurance that helps you make the repairs prior to a catastrophe occurring. Call Aspen Gold Insurance Brokers today if you live in Westminster, CO and want to have the best coverage available. We believe that taking pride means taking ownership, so we work to get you the best possible policies. Call us today for more information on how our agents can help.

What to Do if You Get Stranded in a Winter Storm

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No one wants to think of the possibility of being stranded in a winter storm. Unfortunately, the weather does not always cooperate with your travel plans. As the residents of Broomfield, CO know, studded tires and chains offer little security when conditions deteriorate rapidly. Let’s talk about how to survive an unexpected night in your car while you wait for help.

Be Realistic

Weather forecasts are available at all hours on television and with multiple weather apps. If you plan on traveling during a potential weather event, you have two choices. You can wait to leave until after the storm has passed, or you can prepare for the worst.

Ready.gov provides information on how to best prepare for emergencies involving winter weather. One of the biggest recommendations is active communication before, during, and after travel. Plan your route ahead of time and stick to that route. This will allow people to alert the authorities in the event things don’t go according to plan. Accurate information increases the chance you will be found before the situation becomes dangerous.

Be Ready

If you choose to travel, be smart about it. Make sure you have a full tank of gas, and keep it at least halfway full. Keep your phone charged and carry a portable power pack. It’s also wise to pack enough water and food to last a couple of days. A few additional items that can help keep you safe include:

  • Rock salt and kitty litter
  • Shovel
  • First-aid kit and necessary medications
  • Flares
  • Flashlight and radio with extra batteries
  • Waterproof matches and candles
  • Blankets or sleeping bags

Worst Case Scenario

Perhaps not the absolute worst, but it’s pretty bad. First, call the authorities and friends or family for help. Stay in your car. It is a makeshift shelter. Run it sparingly to add warmth. Make sure your exhaust pipe stays clear and crack a window to vent potential carbon monoxide build up.

Share body heat with others and make use of extra blankets or sleeping bags. Snack periodically and stay occupied by reading or playing cards. Candles provide light and a bit of heat, so set up a spot they can burn safely. A survival kit may seem extraneous, but it could make the difference in you getting home to Broomfield, CO safely.

Please share these stranded in a winter storm tips with your loved ones.

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What is a Home Insurance Adjuster

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Home insurance and everything that has to do with it can be difficult if you do not have some basic knowledge on the subject. There are a wide range of people that work for an insurance agency and one that you might come in contact with is the home insurance adjuster. The agents with Aspen Gold Insurance Brokers in the Westminster, CO area can help you learn more.

An insurance adjuster is someone that is versed both in the insurance laws and regulations for their area and for the country and is also versed in basic repairs and what it might cost to have something repaired. They can also spot fraud and are obligated to report is back to the agency. An adjuster will visit your home when a claim is made.

The adjuster will work to document and evaluate what has happened to your home and will ultimately tell your insurance agency if they think a payout should be made or not and will tell them specifically what they found. An adjuster is out to make sure that claims are not fraudulent and that they are based in fact.

They are also there to help document claims and help the process along. When you file a claim an adjuster will visit the home or property to hear what happened and to see for themselves and take notes and photos so that they can document what has happened and help move the claim to completion. Adjusters are there to help work as a proxy between those that are being insured and the insurance agency. These agents might also come to your home to help you raise or lower your coverage and in order to help establish your policy. For those in the Westminster, CO area, the agents with Aspen Gold Insurance Brokers can help explain.

Tips for Making A Kid-friendly Home

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If you have children, it is of the utmost importance that you have a kid-friendly home. Fortunately, there are several tips you can follow to make sure your home is friendly for children of all ages. Here is a quick look at three of these tips.

Kid-Friendly Home Tip #1: Add ample storage space for toys

One of the biggest problems families with kids face is having toys everywhere and tripping over them. Whether it be the mom or the child tripping over the toys, this can be very dangerous. A great way to get past this problem is by having ample storage for all toys. Thankfully, today’s furniture is often versatile in that it serves as storage containers in addition to furniture pieces. Take for example an ottoman in your living room. If you invest in an ottoman that opens up, this is a great place to store some of your kid’s toys.

Tip #2: Add towel hooks that are easy to reach

You do not want your kids jumping up to reach their towels in the bathroom; this can easily lead to an injury. A great way to avoid this issue is by adding towel hooks that are in the reach of your children. This also creates the kids to be responsible to clean up their towels.

Tip #3: Create a play space

If you do not have an area in your home that is specifically designated for play, you should really consider adding one. This does not mean you have to add an extra addition onto your home, rather you can simply transform a current area in your home into a play area.

To learn more about creating a kid-friendly home, contact Aspen Gold Insurance Brokers serving the Broomfield, CO area.

See our Home Insurance Blogs for more information regarding homeowners insurance policies.

Fall Home Checklist

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Whether you know it or not, you do need to make sure that you winterize your home on a yearly basis.  Fall is the perfect time to do that.  Here is a look at some of the things that you might want to do on our fall home checklist.

  • You are probably used to hearing the phrase “get your mind out of the gutter”.  Forget that and get it IN the gutter instead.  You need to inspect all of the downspouts and gutters on your home.
  • Button up your house.  Make sure that all of the cracks and gaps around your doors and windows are sealed with caulk and weather stripping.
  • Take care of any roof issues.  Get on the roof and inspect it for curled and/or damaged shingles, leaky vents and flashing that might be corroded.
  • Walk your drive and walkways.  If you have any damaged steps, driveways or sidewalks, take the necessary steps to repair them.
  • Winterize and drain your outdoor irrigation systems and faucets.
  • Make sure that you have your heating system inspected by professionals.
  • If you have a fireplace, hire a chimney sweep to clean any creosote or soot buildup from your chimney.
  • Clean the pads and/or plates on your humidifier to ensure that it operates efficiently.
  • Take care of any gas problems before they start.  If you have heat provided by gas, make sure to get it inspected by a professional.  You also need to make sure that any manufacturer specified maintenance needs to be performed.
  • If you have a wood stove, get it inspected before using it.

For more information on our fall home checklist and to make sure that your homeowners policy is up to date, contact Aspen Gold Insurance Brokers in Broomfield, CO today.  They are standing by to answer any and all of your questions regarding your insurance and winterizing your home.

How to Winterize Your Home

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As winter approaches, it is time to start preparing for the colder blasts of weather.  Is your home prepared?  At Aspen Gold Insurance Brokers, we want our customers to be armed with the knowledge necessary to keep their homes well-protected throughout each season.  This is especially the case during Colorado winters when the temperatures can drop to freezing levels. Use these tips from Aspen Gold Insurance to winterize your home:

Winterizing the Exterior of Your Home

As the weather cools down you will probably want to utilize your fireplace this season.  Make sure to check the exterior brick and repair any mortar joints that need to be fixed.  Look in the chimney for bird nests of other debris that need to be removed.  While you are inspecting your chimney, you should also examine your roof.  Make sure the flashing around the chimney is in good shape as this is often a source of water leaks.  Have any damaged shingles replaced and clear the gutters of debris.  Clear any debris such as leaves and branches from your yard and make sure to winterize your sprinkler system.  Drain and disconnect water hoses too.

Winterize the Interior of Your Home

Keeping the inside of the house warm is a must during a Colorado winter.  Make sure that the insulation in your attic is in good shape.  If any ceiling joists are visible, then you will need additional insulation.  Test both your smoke and radon detectors and keep a supply of extra batteries on hand.  Keep cold air from seeping through your windows by caulking them.  Check around your doors to see if the weather stripping needs to be replaced.  Also, it is a good idea to get your furnace inspected and cleaned.

The agents at Aspen Gold Insurance Brokers hope that by carrying out these simple tips your home will be in good shape and ready to go this winter.