Blog | AFI Insurance

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.

How to Support Your Growing Team of Employees

Posted on February 28, 2025February 11, 2025 by AgentInsure

Any business that scales is going to encounter growing pains. How you respond to those challenges as you expand your operations will determine your future as well as how those within and outside of your organization perceive and respond to you. For example, if you’re looking to expand your team of employees, how exactly are you supposed to support this gradually increasing team? What do they need to be satisfied and productive? Here are some helpful tips on how to support your growing team of employees, and how we here at AFI Insurance in Denver, CO can help you support these individuals with the aid of the right commercial insurance policy.

Ways You Can Support Your Growing Team

Take the time to give them the training and educational resources they need to thrive in their current position. A lack of training and support causes confusion and may encourage them to leave your company for one that takes the time to help them advance.
Give them the ability to express their wants and needs. Listening to your employees’ ideas and collaborating with them is a great way to bolster your organization and help them feel valued.
Invest in the right business insurance to protect your employees. Commercial insurance like workers’ compensation insurance will provide them with aid in their time of need and protect your growing business.

Protect Your Employees and Your Business With Commercial Insurance

Keeping your employees and your business safe is your top priority. Make it happen with the support of us here at AFI Insurance in Denver, CO. We will help you find the right commercial insurance policy that will meet your unique organizational needs, no matter what they may be. Compare quotes with us today or reach out to us if you have any questions that we can help you with!

What are the Benefits of Getting Life Insurance While I’m Young?

Posted on February 14, 2025February 11, 2025 by AgentInsure

Choosing Life Insurance While Young

Transitioning from childhood to adulthood comes with a lot of responsibilities. One of these is to take steps to secure your future and that of your loved ones. If you want a better understanding of life insurance and what it can mean for your future, contact our Denver, CO agents at AFI Insurance for dedicated help and answers.

Life Insurance Benefits

Life can present many situations, and not all of them are good, no matter what a person’s age. For example, someone in their 20s who is just embarking on their career or other journey may not consider "things could happen" in the future that can negatively impact their life. The thought of purchasing life insurance is the furthest thing from their minds.

People buy insurance because of the risks encountered every day. One of the benefits of buying life insurance is to have the assurance that should something happen there is the opportunity to file a claim. This is especially important if you have dependents.

Younger applicants tend to receive cheaper premiums. The older you become, you are more at risk, whether due to ageing or health issues. For this reason, premiums will become more expensive, making it another reason why it is recommended to purchase life insurance while you are young and in good health.

Contact Us

Whether you are single, anticipate having a family, or already have a family, purchasing a life insurance policy is a positive move. Our Denver, CO agents at AFI Insurance will explain the different types of life insurance and the available benefits. Depending on coverage type, you may have access to a living benefit rider, which allows the insured to use a portion of their benefits if needed. Call us and let us get you insured, sooner than later.

Am I Required to Get Full Coverage Auto Insurance When Buying a New Vehicle?

Posted on January 31, 2025January 14, 2025 by AgentInsure

If you’re purchasing a new car, you might consider changes to your auto insurance. You’ll need to purchase a policy if you don’t currently own a car and don’t have car insurance. Our agents at AFI Insurance in Denver, CO can help you find the right auto insurance. Full coverage car insurance is a common choice for new car drivers. Here’s what you need to know.

Understanding Full Coverage Car Insurance

Full-coverage car insurance is a comprehensive policy that covers various issues that could affect your vehicle. From theft to collisions, it helps drivers repair or replace their vehicles when a covered event occurs.

Who Should Consider Full Coverage Car Insurance?

Owners of new or high-value vehicles often choose full-coverage auto insurance. Because replacing high-value vehicles can be expensive, this coverage can make them more affordable.

Is Full Coverage Car Insurance Mandatory?

If you’re buying a new car with a loan, your lender may require you to have full coverage insurance. Before finalizing your purchase, talk to your lender to determine if you’ll need full car insurance coverage. Your loan won’t be approved unless you prove you have this type of insurance.

Are you interested in learning more about full-coverage car insurance for your new vehicle? Contact AFI Insurance in Denver, CO, to make your purchase.

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.

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