Blog | AFI Insurance

Should You Sign a No Loss Statement?

Posted on July 15, 2025July 3, 2025 by AgentInsure

Many Colorado drivers face a familiar moment after a policy cancellation or lapse: the insurer asks, “Did you have any accidents while uninsured?” It’s usually in the form of a “no-loss statement.” But what does that really mean—and should you sign it? Your insurance agency at AFI Insurance, serving Denver, CO, has answers.

What Is a No-Loss Statement?

A no-loss statement is a signed declaration confirming that no accidents, damages, or other claimable incidents happened during a period when your auto insurance was inactive or lapsed. It’s a legal affirmation that nothing occurred that could lead to a future claim.

When You’ll Be Asked to Sign

Insurers typically request it after one of two situations:
Your policy was canceled or lapsed due to non-payment, and you’re applying for reinstatement.
You applied for insurance during or immediately after a natural disaster or regional moratorium, which is common following wildfires or floods.

Why Insurers Require It

By requesting a no-loss statement, companies protect themselves from inadvertently covering events that occurred when they weren’t providing protection. It prevents situations where people let policies lapse, damage their cars, and then try to reinstate coverage to file a claim.

Is Signing Safe for You?

If you genuinely had no incidents while uninsured, signing is straightforward—it restores your coverage to the original policy terms. Insurance companies often prefer issuing a new policy over renewing an existing one.

What If You Had Accidents?

Never sign the statement if you did experience an incident. That could be considered insurance fraud. Instead, alert your agent at AFI Insurance, serving Denver, CO, and they’ll help you explore reinstatement with exclusions, higher rates, or a new policy. Have more questions? Get in touch with us today to learn more.

Why Roof Maintence is Important for Home Insurance

Posted on July 15, 2025July 2, 2025 by AgentInsure

When was the last time you checked your roof? If you’re like most homeowners, it probably doesn’t cross your mind until there’s a leak. But here at AFI Insurance in Denver, CO, we’ve seen just how much your roof can impact your home insurance and your wallet.

The Role Your Roof Plays in Coverage

Insurance companies view your roof as one of the first lines of defense for your home. A well-maintained roof helps protect against water damage, mold, and costly structural repairs. If your roof is old, damaged, or neglected, it can raise red flags for insurers. In some cases, it may even affect your eligibility for coverage or result in higher premiums.

A compromised roof increases the risk of claims. When insurance companies see more risk, they often respond with tighter terms or reduced coverage options. On the other hand, demonstrating that your roof is in good condition can sometimes lead to discounts or better policy rates.

Prevention Can Save You in the Long Run

Routine roof maintenance isn’t just about preventing leaks; it’s also about ensuring the roof’s longevity. It’s about protecting your home’s value and ensuring your insurance policy works for you, not against you. Simple tasks, such as clearing debris, replacing worn shingles, and scheduling regular inspections, can go a long way.

If damage does occur, having documentation of maintenance can also help during the claims process. It shows you’ve been proactive, which may strengthen your case when determining the extent of coverage.

At AFI Insurance in Denver, CO, we help homeowners understand the connection between maintenance and protection. If you’re unsure how your roof might affect your home insurance, give us a call. We’re here to keep your home secure.

Whom Should I Involve in My Family Financial Planning?

Posted on June 30, 2025June 6, 2025 by AgentInsure

Protecting your family’s future requires thoughtful financial planning, and it’s not something you should do in isolation. The decisions you make—whether related to insurance, savings, or long-term goals—affect more than just you. Including the right people in these conversations can help you make smarter, more grounded choices that align with your family’s needs. When you’re ready to take the next step, contact AFI Insurance, serving Denver, CO, for expert guidance and support.

Start With Your Spouse or Partner

If you share finances with a spouse or partner, they should be central to the discussion. Financial planning isn’t just about combining income and expenses—it’s about aligning goals, expectations, and responsibilities. Life insurance coverage, retirement plans, and emergency savings are most effective when both parties are on the same page.

Include Adult Children When Appropriate

As children mature, involving them in financial conversations can be both practical and empowering. Whether you’re planning for education, inheritance, or caregiving roles, it’s beneficial for adult children to understand the broader financial picture. These discussions also prepare them to manage their own finances wisely in the future.

Consult Trusted Financial Professionals

A strong financial plan often includes input from professionals. A licensed insurance agency like AFI Insurance, serving Denver, CO, can help you evaluate the types of coverage that best suit your needs, such as life insurance, disability insurance, long-term care coverage, or annuities. Additionally, financial advisors, tax preparers, and estate planning attorneys can provide valuable insights tailored to your goals.

Prioritize Communication Over Guesswork

Family financial planning is as much about communication as it is about numbers. Involving the right people early reduces confusion, prevents costly mistakes, and fosters a shared sense of direction. Planning together builds confidence, clarity, and peace of mind—one decision at a time.

How Specialty Insurance Fills Coverage Gaps in Standard Policies

Posted on June 16, 2025June 3, 2025 by AgentInsure

When it comes to insurance, most people are familiar with the basics—home, auto, life. But what happens when your unique lifestyle or assets fall outside the lines of a standard policy? At AFI Insurance in Denver, CO, we often meet clients who assume they’re fully protected, only to discover critical gaps when it matters most. That’s where specialty insurance comes in.

Uncovering Hidden Gaps in Standard Coverage

Standard insurance policies are designed to cover common risks, but they often have limitations, especially for people with unique needs or high-value items. For example, if you own a classic car, a luxury RV, or a boat that ventures beyond traditional navigational limits, your standard policy might not provide adequate protection. These gaps aren’t always obvious until you file a claim and realize you’re not covered as expected.

How Specialty Insurance Bridges the Gap

Specialty insurance is tailored to fill those gaps by offering coverage that matches your specific risks. Whether it’s protecting a high-end collector’s item, insuring a vacation home in a remote area, or covering a boat that travels across international waters, specialty policies step in where standard ones fall short. They often include expanded navigational limits, higher coverage amounts, or customized terms that align with your lifestyle.

Customized Protection for Confidence

The beauty of specialty insurance is that it’s built around your unique needs. It’s not about over-insuring—it’s about safeguarding the things you’ve worked hard for in a way that makes sense for your life.

At AFI Insurance in Denver, CO, we’re here to help you identify and close hidden gaps in your coverage. Contact us today to explore how specialty insurance can keep you confidently protected.

Does My Business Need Commercial Cyber Insurance?

Posted on May 30, 2025May 15, 2025 by AgentInsure

Commercial cyber insurance has become a necessity in today’s digital age. Almost all businesses use computers for advertising, customer interaction, and order processing. While computers simplify and enhance our business operations, they also expose us to cybercrime. Businesses also become potential cybercrime victims when interacting with suppliers, customers, and others who use computers for their operations. If you are in or near Denver, CO, and need protection against the financial impacts of cybercrime, contact our team at AFI Insurance.

Understanding Commercial Cyber Insurance

Commercial cybercrime involves the theft of business data or hindering a business from fully utilizing its computers and information. Almost every company is vulnerable to cybercrime, as few businesses operate without an internet connection or cloud-based data storage.

Businesses typically suffer three types of financial and other damages from cybercrime, and it is crucial to have cyber insurance to protect against all three.

First-party damage from cybercrime involves using resources to investigate an attack and informing customers or others about potential impacts. A cyberattack may also result in ransomware payments or revenue loss, which you need protection against.

Secondly, cyberattacks can cause third-party liabilities. These occur when an attack on your company causes others to incur losses. Cyber insurance also covers these expenses.

Lastly, firms that sell technology-based products should use cyber insurance to protect themselves against faulty programming, or product and service errors and omissions that cause others to suffer losses.

Working with AFI Insurance

AFI Insurance serves the business and personal insurance needs of many in the Denver, CO, area. Call us today at (303) 433-8888 to discuss your commercial or other insurance needs.

Are All Heirs Entitled To Life Insurance Benefits?

Posted on May 16, 2025May 15, 2025 by AgentInsure

When a person passes away, their estate typically goes to their heirs. This estate can include a variety of assets, such as property, vehicles, money, or stocks. A common misconception is that heirs are also entitled to a death benefit from a life insurance policy.

Understanding Heirs

Heirs are generally the closest living relatives of a deceased person. These can include:

Relatives by Blood: Children, grandchildren, nieces, nephews, siblings, cousins, uncles, aunts.
Adopted Children: Adopted children are legally recognized as heirs and have the same rights as biological children.
Surviving Spouse: A surviving spouse is usually considered the closest heir.

Heirs are not chosen by the deceased. Instead, state law determines who is considered an heir and who is entitled to inherit from the estate. However, a will is always taken into account when distributing the estate after a person’s death.

Priority of Inheritance

If there is no will, inheritance is determined based on the order of priority. State law determines who gets priority and the largest portion of the estate. The order of priority in Denver, CO, is:

Surviving spouse
Children, including adoptive children
Parents
Siblings
Grandparents
Descendants of grandparents, such as nieces, nephews, aunts, etc.

This order of priority does not apply to a death benefit from life insurance. Life insurance from companies like AFI Insurance follows its own set of rules.

Heirs and Life Insurance

Life insurance in Denver, CO, is considered separate from the estate. A person chooses beneficiaries for their life insurance policy, and can change most beneficiaries before they pass away. They can choose anyone they want, including people who aren’t related to them, like a close friend. Some choose to have the death benefit donated to a charity or put in a trust.

Life insurance usually doesn’t involve the probate or estate process, and benefits are paid directly to the heirs. If no heirs are named, beneficiaries may be entitled to the death benefit. Agents at AFI Insurance can answer any questions you have about your policy. Contact us today for more information.

What You Should Do When Your Home Is Vandalized

Posted on April 30, 2025April 11, 2025 by AgentInsure

A home vandalism incident can occur at any time. It may be a random event, or it may be perpetrated by someone you or a family member knows. Significant damage can sometimes occur in vandalism incidents. Your home insurance policy can help defray the costs of returning your home to a normal condition. At AFI Insurance in Denver, CO, we help homeowners acquire the coverage they need to protect their home investment.

Types of Vandalism Covered By Insurance

Acts of vandalism can cause minor cosmetic damage to a property or can significantly impact the ability to use the property, such as if toxic pollution occurs. Fortunately, your home insurance policy covers such acts and can help defray the costs of restoring your property to normal. Actions such as creating graffiti, smashing windows or doors, arson, cutting trees, salting lawns, and other damage are covered. Most insurance policies will cover damage to property, as well as to personal items.

Steps You Should Take If Your Home Is Vandalized

You should first conduct a thorough assessment of the damage. Take pictures of any damaged areas. You should report the damage to the police. Your report number can then be listed on your insurance claim. You should secure the property to prevent any further damage. If necessary, you should move yourself and other family members to a safe place to assess whether any further actions against you are likely.

Make AFI Insurance Your Agent for Home Insurance Coverage

If you have questions about your home insurance, our experienced agents can provide detailed answers to help you determine if you have the right coverage at the appropriate level. We offer policies for home, auto, life, and business. Contact AFI Insurance in Denver, CO, today for a no-obligation quote on home insurance so that you can defray the costs of a home vandalism event.

Gap Insurance Explained: Do You Really Need It?

Posted on April 15, 2025April 11, 2025 by AgentInsure

Imagine driving your brand-new car off the lot, only to have it totaled weeks later. Standard insurance won’t cover what you owe. Fortunately, gap insurance acts as a safety net. Serving Denver, CO, and the surrounding areas, AFI Insurance offers comprehensive auto coverage that helps protect drivers from these unforeseen events.

What Is Gap Insurance?

Gap insurance covers the difference between your car’s current value and what you still owe on your loan or lease. For example, if your vehicle is worth $20,000 but you owe $25,000, gap insurance covers the $5,000 “gap” after a total loss.

When Do You Need Gap Insurance?

Gap insurance can be a smart investment if you made a small down payment, leased your vehicle, or have a long-term loan. It’s also recommended if your vehicle depreciates quickly or you rack up high mileage.

When You Might Not Need Gap Insurance

You may not need gap insurance if your vehicle is paid off or nearly paid off. It also may not be necessary if you made a sizeable down payment, have a short-term loan, or bought a used car that holds its value well. In these cases, the risk of a financial gap is low.

Key Advantages of Gap Insurance

Gap insurance offers assurance if your car is stolen or totaled, ensuring that you’re not stuck with loan payments on a vehicle you no longer have. It helps protect your credit and finances, and because of the coverage it provides, it can be very affordable when bundled with your auto policy.

Contact AFI Insurance in Denver, CO

Gap insurance can be a financial lifesaver by preventing major debt after a catastrophe. To learn more or to discuss your coverage needs, contact us today at 303-433-8888.

Specialty Insurance for Business Owners: What are the Options?

Posted on March 28, 2025March 12, 2025 by AgentInsure

Denver, CO business owners who run an unusual and/or high-risk business will likely find that a regular insurance policy doesn’t provide enough coverage. Thankfully, there are many specialty insurance coverage options to ensure you’re fully covered should an unfortunate incident occur.

Errors and Omissions Insurance

An E&O policy covers incidents in which customers suffer harm or a financial setback due to mistakes made by one or more of your employees. Errors and Omissions insurance typically covers legal costs and the cost of paying a settlement or judgment against your company.

Directors and Officers Liability Insurance

This specialized form of coverage is for business owners and managers who are concerned they may be held legally liable for corporate decisions they make (or fail to make). For instance, gun dealers and gun shop owners may want to consider this policy option seriously.

Cyber Insurance

Cybercrime is becoming increasingly commonplace, affecting businesses of all sizes and in all industries. Cyber insurance can help you cover the cost of paying a ransom, repairing or replacing IT hardware/software, and legal costs that may arise if personal information is breached and affected parties take you to court. This type of coverage is highly recommended if your company stores a lot of personal information on a computer.

Emergency Rescue Coverage

This type of coverage is ideal for companies offering outdoor adventure opportunities in remote areas, as it can cover the cost of a rescue should customers need immediate emergency assistance.

Contact AFI Insurance for More Information

AFI Insurance offers a range of specialized insurance policies to business owners in and around Denver, CO. Call us to find out more about your options, review specific insurance policies, or get price quotes.

Can Financial Planning Insurance Protect Me From a Volatile Stock Market?

Posted on March 14, 2025March 12, 2025 by AgentInsure

Invest in the stock market, mutual funds, or similar financial instruments in Denver, CO. Those investments can be subject to significant swings in worth, especially during times of volatility. Many ask how to protect themselves from substantial market downturns during a recession or worse. Financial planning insurance recommended by AFI Insurance may be the answer.

Financial Planning Insurance and Market Volatility

Insurance is vital to financial planning but does not protect investments from downturns. The best way to protect investments from volatility is to diversify your portfolio. Instead of putting all your assets into stocks, your financial planner should recommend a balanced portfolio that includes stocks, bonds, annuities, and other investment types that respond differently to market fluctuations.

The Role of Financial Planning Insurance

Various policies include life insurance, disability insurance, and long-term care insurance. These policies provide you with a safety net when you need them. If your other investments falter and lose worth, your insurance products can compensate for those losses. Life insurance, in particular, can provide considerable worthwhile also mitigating risks.

Financial Planning and Insurance: A Dynamic Duo

Just as financial planning isn’t a one-and-done deal, so is buying financial planning insurance. Your financial planning goals should change throughout your life, so your investments and insurance products may change. You may need to add or change the type of insurance policies you own. When you change your financial goals, make sure you review your overall investments, including all pertinent insurance policies.

AFI Insurance, serving residents of Denver, CO, can help you understand how various insurance policies make a sound investment and play into your financial plans. Contact our office today to schedule your consultation.

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