Blog | AFI Insurance

How Often Should You Review Your Home Insurance?

Posted on January 15, 2025January 14, 2025 by AgentInsure

As a responsible homeowner, reviewing your home insurance is crucial to protecting yourself and your family. If you live in the Denver, CO, area and need a home policy review, consider contacting us at AFI Insurance. We understand the importance of safeguarding your home and can help you choose the right insurance products. Here’s what you need to know about policy reviews.

The Importance of Home Policy Reviews

Insurance reviews are designed to ensure your protection. During a review, you can update any inaccuracies, adjust your coverage levels, and gain confidence in your policy. Many people renew their existing policy without considering if it’s still the best fit. Regular reviews can help prevent this.

Reviewing Changes in Circumstances

Significant changes in circumstances should prompt a home policy review. These could include home additions or the acquisition of large items like family heirlooms, grand pianos, or swimming pools. While these changes may not necessitate a policy adjustment, a review can help you make an informed decision.

Support Makes a Difference

Even without significant changes, reviewing your home insurance with an agent at least annually is advisable. This ensures you receive the proper support for quality insurance and peace of mind. Contact us at AFI Insurance today if you’re in the Denver, CO area. We can review your policy to ensure you have the coverage you need.

How Specialty Insurance Protects Your Collectibles

Posted on December 27, 2024December 10, 2024 by AgentInsure

Many people in Denver, CO, collect valuable items as a hobby. While homeowner’s insurance will protect those items to a certain extent, it won’t cover the full cost if they are lost, stolen, or damaged. If you are wondering what you can do, AFI Insurance can provide tips on fully protecting your investment.

Coverage Provided by Homeowner’s Policies

Your homeowner’s policy will provide some coverage if your collectibles are lost or stolen. However, most policies have limits regarding payouts. If your collection contains valuable items, you may only get a fraction of the item’s worth. Many collectors start small and, before they know it, have a collection worth thousands of dollars. You should document your items, note their worth, and evaluate your current homeowners’ insurance before you insure them with a separate policy. In some instances, you may be able to add a rider to your current policy to insure collectibles, but if your collection is too large or valuable, getting a separate policy is the way to go.

Types of Collectibles Insured by Special Policies

Specialized collector’s insurance can benefit individuals with extensive collections that they usually don’t get with general homeowner’s policies. Look for policies that provide full market value instead of cash value for your items if they are lost or stolen. You can also customize this type of insurance to your specific type of collection. You may want to include specific provisions for items like art that wouldn’t apply to toys.

Types of collections that can benefit from a specialized policy include:

Fine art
Wines
Artifacts and historical documents
Jewelry
Collector cars (for display only)
Comic books and vintage toys
Memorabilia
Trading cards
Figurines

Contact the professionals at AFI Insurance, serving Denver, CO, to discover how to insure your collectibles. Schedule your free appointment today.

Financial Planning – Insurance Guidelines to Protect Your Assets

Posted on December 16, 2024December 10, 2024 by AgentInsure

Financial planning can help you identify risks that may require specialized insurance coverage. The following steps outline basic financial planning strategies. In addition, consider any risks that necessitate an upgrade to your insurance policy.

Financial Planning

Budgeting, investing, saving, and retirement planning are primary components of a financial plan. Consider recurring bills, your net worth, and personal assets. Your assets should include physical money, investments, and valuable household goods.

Determine how your financial status may change in the future. If you are going to pursue an advancement in your career, for instance, you should record this information in your financial plan. Your financial plan will give you an idea of your current financial health and provide information about what your finances may look like in the future.

Risk Assessment

Assess the risks that may require more insurance coverage. If part of your financial plan is focused on protecting furnishings, family heirlooms, and other valuables, you may be concerned about the potential of weather-related damage, theft, or vandalism. Personal property insurance will protect your assets.

Liability Insurance Protection

Your finances may be at risk if an injury occurs on your property. If you don’t have adequate liability insurance coverage, you are responsible for any out-of-pocket costs that are directly related to an injury.

In addition, you are responsible for legal costs resulting from being sued by someone who is injured on your property. Increasing the insurance coverage your insurance policy provides will protect your financial health.

Contact An Agent Who Serves Denver, CO

Contact one of our insurance agents to discuss your financial plans. An agent from AFI Insurance will recommend insurance products that will protect your finances.

Do I Need More Life Insurance Than My Job Provides?

Posted on November 29, 2024November 12, 2024 by AgentInsure

Many employee benefits packages include life insurance. Others receive group life insurance policies through unions, professional societies, or other organizations. These policies are generally beneficial, though they seldom provide coverage in the amounts many families need and often do not cover non-employee family members. If you have questions about your family’s life insurance needs, contact the AFI Insurance team that serves Denver, CO. We’ll work with you to determine the best coverage for your family.

Advantages of Employer-Provided Life Insurance

Employer-provided life insurance is generally a good thing because the base policy is free, and you have the option to buy more. In addition, since they are group-based policies, employees with pre-existing conditions can obtain life insurance they might not obtain independently. Receiving employer-based life insurance also takes little effort; it requires only filling out a form during the employee benefits enrollment process.

Limits of Employer-Provided Life Insurance

Despite the value of employer-provided life insurance, it has shortcomings, including:

Employees often lose their coverage upon leaving their current employer, so there can be coverage gaps due to timing.
Most benefit plans do not offer insurance for spouses or children in the amounts they need.
Most critically, most employees with families need much more life insurance coverage than the employer-based plan offers to adequately protect their families.

Overall, employer-provided life insurance can be a valuable benefit but is insufficient for most families. Most families need to acquire additional life insurance outside the workplace.

Working with AFI Insurance for Life Insurance

If you live in the Denver, CO, area and want to discuss your life and other insurance needs, stop in, call (303) 433-8888, or use the chat on our home page. Our AFI Insurance team will find a plan suiting your needs.

What Does Business Interruption Insurance Actually Cover?

Posted on November 15, 2024November 12, 2024 by AgentInsure

Running a business comes with its fair share of uncertainties, and at AFI Insurance, providing commercial insurance in and around Denver, CO, we understand the importance of protecting your livelihood. One essential coverage option to consider is business interruption insurance. But what does it actually cover?

Understanding Business Interruption Insurance

Business interruption insurance is designed to safeguard your business against the loss of income resulting from a covered event that disrupts your operations. This type of insurance doesn’t cover physical damage to your property but focuses on the income you lose during the period your business is out of action.

What Does Business Interruption Insurance Cover?

Typically, business interruption insurance covers lost revenue, fixed expenses, and costs associated with operating from a temporary location if needed. For example, if a fire damages your premises and you need to close for repairs, this insurance helps replace lost income and pays for ongoing expenses like rent and salaries. It ensures you can continue to support your employees and meet financial obligations while getting back on your feet.

Understanding the Limits of Business Interruption Insurance

While business interruption insurance offers valuable protection, it’s important to understand its limits. It usually only covers interruptions caused by specific perils like fires or natural disasters. Events like pandemics are often excluded unless specified in the policy. Reviewing your policy details with a knowledgeable agent is crucial to ensure you have the coverage you need.

Let Us Help Your Business Find the Ideal Commercial Insurance Coverage

At AFI Insurance, serving the greater Denver, CO area, we’re dedicated to helping you find the right coverage for your business. Contact us today to learn more about business interruption insurance and how it can protect your future.

Four Things Your Car Needs Before the Winter Months

Posted on October 31, 2024October 8, 2024 by AgentInsure

As cooler temperatures start to filter into the Colorado air, it’s time to do winter maintenance on your vehicle. Below are three things that you can’t forget this winter to avoid damage or unwanted events with your vehicle.

1. Add Your Snow Tires

As the weather cools off into fall temperatures, make an appointment for your snow tires. Snow can come sporadically in Colorado, so you want to ensure you’re prepared when traveling on roads with snow and ice. These tires have chains, and if you’re using tires from last year, make sure they are in good shape or purchase new ones for safety purposes.

2. Top Off Fluids

Once your oil is changed for the winter, it’s a good idea to check and fill all the fluids before it gets too cold. You want to ensure you have plenty of antifreeze to protect your engine and that your transmission fluid is full. Other fluids would be wiper fluid, braking fluid, and power steering fluid, all of which must be filled.

3. New Wipers

Because there will be a lot of moisture in the winter, ensure you have new wiper blades on your car. If you have a rear wiper, replace that one as well. You can get certain ones designed for colder weather and will not dull as quickly as others.

4. Inspect the Battery

You’re good to go if you’ve gotten a new battery in the last few months. However, if it’s been a few years since you’ve gotten a new battery, you should check it to see how the power is holding up. If it is getting weak, chances are the winter weather will take it out, so go ahead and have it changed.

If you’re in the Denver, CO area and looking for an auto insurance policy, contact AFI Insurance today for more information.

Three Ways to Prepare Your Home For Winter Weather

Posted on October 15, 2024October 8, 2024 by AgentInsure

As winter weather approaches quickly, there are a few things you’ll need to take care of sooner rather than later. Preparing your home for winter will reduce maintenance and protect it from dropping temperatures, snow, and ice.

1. Cover Your Pipes

Covering your pipes keeps them warm and protected against cold weather in the winter. Too many homeowners forget this step or do it later in the winter after the pipes have started freezing. Frozen pipes will not only prevent you from getting water through but can also crack, causing leaks and the need for replacement pipes. Save yourself a lot of stress and money by doing this task first.

2. Clean Your Roof and Gutters

Before the winter months get here, it’s a good idea to clean out your gutters, ensuring no debris is causing a backup and that water can get through the system properly. Once you have that system clean, clean off any debris lingering on your roof so that it doesn’t freeze under the snow and cause your roof to get heavy. If too much weight gets on the roof, it will cause it to collapse, and you need extensive repairs. Nailing down any loose shingles on your roof is also good to keep them intact.

3. Insulate the Attic

If you haven’t already, checking the attic insulation and updating it before it gets cold is a good idea. You want to keep the heat inside your home so you don’t overwork your HVAC system. Too much pressure when the weather gets cold could cause it to malfunction. It will also easily raise your utility expenses. With new insulation, you can keep the warm air inside the home and moisture from the winter weather out.

If you’re looking for home insurance in Denver, CO, and surrounding communities, our team at AFI Insurance is ready to provide you with a personal quote today.

Determine If Your Business Would Benefit From Specialty Insurance

Posted on September 27, 2024September 13, 2024 by AgentInsure

If your business faces unique circumstances that could result in a lawsuit, theft, or damage, you may benefit from adding specialty insurance to your existing insurance policy. Specialty insurance provides protection that a standard business insurance policy would not provide.

Specialty Insurance

Different types of specialty insurance provide high-risk businesses with adequate protection. Specialty coverage can alleviate out-of-pocket costs that a business owner may face.

Variables That May Require More Coverage

Expensive or unique inventory
High-priced equipment onsite
Potential for injuries
Crime-prone location
Potential for damage occurring onsite
Use of chemicals and other dangerous items

Insurance Assessment

The list above outlines some variables that may convince you to carry specialty coverage. This list doesn’t cover everything that would require specialty coverage, but it provides a rough idea of what types of things require more coverage.

Conducting an insurance assessment will allow you to determine your business’s risks. This assessment will uncover any dangerous conditions or additional risk factors that would make it beneficial to carry more insurance coverage.

The assessment you conduct should consider any past incidents you faced as a business owner. Suppose you have faced many lawsuits in the past, for instance. In that case, you may decide that your business needs specialty insurance coverage to increase the liability protection your place of business is equipped with.

Refer to the insurance assessment results when you compare different types of specialty insurance coverage.

Specialty Insurance Guidance

If you are not convinced that your business would benefit from specialty insurance coverage, contact one of our agents who serve Denver, CO. An AFI Insurance agent will discuss your business plan. They will recommend insurance products that are a good fit.

Questions to Ask When Hiring a Professional For Financial Planning Services

Posted on September 16, 2024September 13, 2024 by AgentInsure

When you’re ready to take control of your financial future, hiring a professional can be a game-changer. At AFI Insurance in Denver, CO, we understand the importance of finding the right fit for your unique needs. Here are some essential questions to ask potential financial planners.

What Are Your Qualifications?

Start by understanding the professional’s background. Ask about their certifications and educational history. Credentials like CFP (Certified Financial Planner) or CFA (Chartered Financial Analyst) can provide reassurance of their expertise.

How Do You Charge for Your Services?

It’s crucial to know how your financial planner is compensated. Some work on a fee-only basis, while others might earn commissions. Understanding their payment structure helps you assess potential biases and ensures transparency in your relationship.

What Is Your Experience with Clients Like Me?

Financial planning is not one-size-fits-all. Inquire about their experience with clients who have similar financial situations or goals. This can give you confidence that they understand your specific needs and can offer tailored advice.

Can You Provide References?

Hearing from past or current clients can provide insight into what working with this planner might be like. Don’t hesitate to ask for references and follow up on them to ensure the planner’s claims align with reality.

What Is Your Investment Philosophy?

Understanding their approach to investing is key. Make sure it aligns with your risk tolerance and long-term financial goals. A planner’s philosophy should resonate with your values and provide a strategy that feels right for you.

Choosing a financial planner is a significant decision. At AFI Insurance in Denver, CO, we are here to support you on your journey to financial success. Contact us today to learn more about how we can help you achieve your goals.

How Can Our Insurance Agents Help Ensure Small Businesses Get the Right Commercial Insurance Products

Posted on August 27, 2024August 14, 2024 by AgentInsure

Navigating the world of commercial insurance can be overwhelming for small business owners. At AFI Insurance in Denver, CO, we believe that understanding your unique needs is the cornerstone of finding the proper coverage. Our agents begin with a personalized consultation to get to know your business inside and out. We explore every aspect, from the nature of your operations to the specific risks you face.

Comprehensive Risk Assessment

Once we understand your business, our agents carry out a comprehensive risk assessment. This involves identifying potential vulnerabilities and evaluating the types of coverage that would best mitigate these risks. Whether it’s liability, property damage, or workers’ compensation, we tailor our recommendations to adequately protect you.

Tailored Insurance Solutions

With the information gathered, our agents then craft tailored insurance solutions that align with your business goals and budget. We recognize that every small business differs, and a one-size-fits-all approach doesn’t work. Our goal is to provide you with customized policies that offer maximum protection without unnecessary coverage.

Ongoing Support and Adjustments

Your business is constantly developing, and so are its insurance needs. Our agents at AFI Insurance are dedicated to providing ongoing support, ensuring your coverage adapts as your business grows. We regularly review your policies and make adjustments as needed so you can focus on what you do best—running your business.

Partner with AFI Insurance Today

At AFI Insurance in Denver, CO, we’re committed to helping small businesses thrive by providing the right commercial insurance products. Contact us today to schedule a consultation and let our experienced agents guide you toward comprehensive, customized coverage that offers peace of mind and security for your business’s future.

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