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Financial planning insurance myths that you should know

Posted on September 24, 2020September 23, 2020 by AgentInsure

Having a solid financial plan may sound like it is for those banking billions across Denver, CO and are not sure how to use them. Or that young couple that hopes to get a better life when the kids are out of diapers–wrong. Financial planning is for anyone earning a living. That is why AFI insurance recommends accompanying your financial dreams with financial planning insurance, which will protect your interests.

If you have never considered having a sound financial plan, maybe you have heard a few myths from people. They include:

It is only for the rich.

Who said? You don’t need to earn millions to start planning your finances or buy financial planning insurance. As long as you have financial responsibilities and are earning an income, you are already eligible to have a financial plan. You won’t have to worry about losing because there is coverage to cushion you.

I will start when things cool off.

You will wait and wait and wait because life really never settles down. The earlier you start planning your future or your retirement, the better your chances of achieving your goals and navigating through the challenges that will come up.

It is time-wasting

Many people tend to believe that their financial plans won’t help. This is not only a negative approach to finances but can also be detrimental to your mental health. It mostly happens when you set unrealistic goals that you may not be able to achieve in the set duration. You end up blaming yourself for failing to achieve and call it a waste of time. Financial planning can only be a waste of time when it is not well-planned, and when you don’t have coverage to back you up.

Don’t wait till the millions start trickling in; buy financial insurance, and safeguard your finances. AFI insurance is here to take you through the complicated journey of finances. Feel free to contact us or visit our Denver, CO today!

Maintenance vs. Repair Visits and Home Insurance Coverage

Posted on August 31, 2020September 23, 2020 by AgentInsure

You might expect your homeowner’s policy to pay for everything home-related, but that is not really how it works. Your repairs from named peril damages do get covered, but your maintenance to keep the home does not. AFI Insurance serving Denver, CO wants you to understand the ins and outs of home policies so you do not experience any surprises.

When you have a professional tradesperson such as a plumber or electrician conduct a maintenance visit, you pay out of pocket. The standard HO-1 policy does not cover maintenance. It pays for damages from named perils. Your policy might pay for the damages they maintenance visit uncovers, but not the maintenance visit or inspection.

Let’s say that you have the roof of your home inspected and your gutters cleaned. During the maintenance visit, the roof inspector discovers shingle damage and a slight leak caused by a tree limb still laying on the roof. The damage looks relatively fresh and the inspector thinks it happened during the thunderstorm that carried high winds two weeks before. He recommends immediate repairs so that the small leak does not grow and no water damage occurs in your attic. You file a claim on your homeowners’ insurance. The policy pays for the full roof repairs, but not the inspection that discovered the leak.

The standard home policy covers the damage. The insurance companies expect that you will maintain your home to as high a standard as possible. This means you pay for its upkeep, but insurance pays for the unexpected. If a wildfire sets your home ablaze, your home policy covers the damage to the structure and your belongings. If you decide to upgrade your home’s electrical though, you pay out of pocket.

Maintenance visits differ from repair visits under the home policy. Contact AFI Insurance of Denver, CO to learn more about the little things a home policy does and does not cover.

Insurance and Buying a Car at a Dealership

Posted on August 28, 2020August 31, 2020 by AgentInsure

Let’s face it – shopping at a dealership for a new or used vehicle can be stressful but there’s more exciting or relieving than when the process is finally complete and you receive the keys to your new vehicle. When shopping for a new or used vehicle, not only do you need to have financing in advance of being able to sign on the dotted line but also you will need to show the car dealership proof of insurance.

Keep in mind that since you’ll need to have proof of insurance on the day you take delivery of the vehicle if you are shopping on a weekend, then it may not be a bad idea to call your insurance company or agent in advance of the purchase. This way, you’ll be guaranteed of having everything done in advance – just in case there are any issues. Additionally, just because you add insurance for a new vehicle unto your policy does not mean that you have to start paying for it at the same time. Most major insurance companies will allow you to select a date in advance that you want the coverage to begin on so you only have to pay for it when you take ownership of the vehicle.

Additionally, depending on whether you pay cash, finance, or lease your vehicle you may be required to have different types of insurance coverage. For example, buying cash means that you only have to carry the minimum insurance coverage requirements in your state whereas with a financed vehicle you will need to have collision, comprehensive, and liability coverage on your policy.

When it comes to finding your next auto insurance policy, AFI Insurance in Denver, CO is ready to assist. Our friendly and knowledgeable team of insurance professionals will take the time to answer all your questions while helping you find a policy that best fits your needs.

What You Should Know About Financial Planning Insurance

Posted on July 29, 2020July 24, 2020 by AgentInsure

Financial planning often brings on thoughts of the future and a bit of anxiety if we are being honest. Financial planning does not need to be an anxious topic, though. At AFI Insurance, serving Denver, CO we love taking the opportunity to better educate our clients on these important topics. Keep reading to learn about financial planning insurance and how it can help you plan for the future.

What is Financial Planning Insurance

Insurance of all types is an important part of your financial plan. However, when people speak about financial planning insurance, they are often talking about whole life insurance policies. A whole life insurance policy is a type of life insurance that can build cash value over time. After the third year, the policy begins to build cash value. At any time, you can take out a loan on the cash value of the policy. Many people like to think of this as a supplement to their other forms of retirement savings.

The best way to make this method work for you is to establish this policy early in life. This gives the cash value more time to build. Cashing out the money also has certain tax exemptions making it an appealing form of retirement supplement.

The Role of Insurance in Financial Planning

In addition to using whole life insurance as a supplement to retirement, it is also important to remember that all of your insurance coverages are a vital part of any long term financial plan. Your financial security and the financial security of your family can be greatly affected by an accident or a death. Having sufficient insurance in place will safeguard your financial security so that these events do not leave you financially vulnerable.

If you would like to learn more about insurance and financial planning, please contact our staff at AFI Insurance serving Denver, CO.

When Should Someone Get Specialty Insurance?

Posted on July 24, 2020July 24, 2020 by AgentInsure

Most people are aware that they need to have home, auto, and other forms of insurance coverage to provide valuable insurance protection. While having these base policies is very important, there are often other forms of insurance coverage that could be needed to ensure they are appropriately protected. One form of insurance that someone may need is specialty insurance, which broadly covers a variety of forms of insurance that are more unique. Specialty insurance could include coverage for a classic car or recreational vehicle or home insurance that protects against specific risks not covered by the base policies. There are several forms of insurance that someone would need this coverage.

Protects Assets

One of the main benefits of a specialty insurance policy is that it can protect your valuable asset. Your insurance policy can provide you with coverage to repair or replace your specialty assets. It could also give you coverage to repair your home if it is covered by a specialty policy.

Liability Protection

Another benefit of getting a specialty insurance policy in Denver, CO is that it can provide you with liability protection. Anyone that takes out an insurance policy will receive liability coverage if they cause an accident while using the asset covered under the specialty insurance policy. This could help to keep you solvent if you cause a serious accident.

If you would like to get a specialty insurance policy, you should speak with the team at AFI Insurance. Specialty insurance is a very unique form of insurance coverage and having someone to work with that understands it is very important. The team at AFI Insurance will help those all over the Denver, CO area to better understand the benefits that come with this form of insurance. This will ensure that you receive appropriate coverage.

Mistakes To Avoid When Researching Commercial Insurance Policies

Posted on June 22, 2020June 15, 2020 by AgentInsure

AFI Insurance serves the Denver, CO community by offering multiple insurance policies. We have established partnerships with multiple carriers to ensure that our clients find the coverage that they are looking for.

Commercial Insurance

Commercial Insurance allows business owners to protect their investment. You can add different types of coverage to your policy to protect your business’s property, as well as your businesses’ vehicles. You can also add liability coverage so that you are protected regardless of any risks that arise. While researching different commercial insurance policies, be sure to avoid some of these common mistakes.

Failing To Read Over The Entire Policy

Read over the entire policy before you move forward. That way you can ask any questions that you may have and voice your concerns before you agree and sign. Try to avoid scenarios where you are not familiar with the language in the policy and it comes back to haunt you.

Not Thinking About Your Customers And Vendors

Before you agree to a policy, think about the services that you provide to your customers, as well as the vendors who rely on you. Look for a policy that allows you to meet the needs of everyone involved with your business.

Failing To Emphasize Workers’ Compensation

Having a Workers’ Compensation policy is extremely important to the overall health of your business. It ensures that you are committed to the best interests of your employees.

Not Thinking About Potential Losses

At any time, disaster could arise and your business suffers damages. While your business is recovering, you may be at risk of suffering huge losses. That’s why it is important that you add some type of income coverage to your policy.

AFI Insurance Can Help

To receive assistance while researching commercial insurance, stop by our office in Denver, CO. We will help you find the right plan for your business.

What is Life Insurance?

Posted on June 15, 2020June 15, 2020 by AgentInsure

Life insurance is one of those forms of insurance you’ve likely heard of but may not know much about. Even if you have heard of life insurance and know the basics it is a good idea to develop a basic foundation of knowledge regarding what it is and whether it is right for you or not. If you live around greater Denver, CO and have questions regarding life insurance, our staff here at AFI Insurance is here to assist you.

What Is Life Insurance?

Life insurance is designed to provide for your family or significant others after you are gone. With life insurance, you will select a set amount you want the insurance policy to be. This might be a quarter of a million, a million, somewhere higher or lower. You will then pay a monthly amount into your life insurance policy. This amount will gain interest as it is held by the insurance provider. When you pass on the beneficiary will then collect the life insurance after filing a claim with the insurance provider.

There are a handful of life insurance policy options. These will vary depending on when someone dies, the overall value, and also if the policy can be cashed in prior to the death of the policyholder. Make sure to ask us all questions you might have.

Finding The Right Life Insurance Options

If you still have questions or want to know more about life insurance, our staff at AFI Insurance will be happy to help you out. When living in greater Denver, CO we will proudly serve you, address your concerns, and give you all the information you need to decide whether life insurance is right for you and if it is something you should pursue. So, give us a call at your earliest convenience.

When do I need home insurance in Colorado?

Posted on May 29, 2020May 14, 2020 by AgentInsure

Moving to the state of Colorado is a dream for a lot of people. When you live in the Denver CO area, you will have close access to all of the amazing outdoor activities that the state has to offer while also providing a great local economy. Due to this, owning a property in Denver is a great option. If you are going to own a home in Colorado, it is important that you get a proper insurance policy. There are several reasons why you need to get home insurance in this area. ,

Protects Your Assets

One of the reasons why you need home insurance is that it can protect your asset. Buying a home is a very significant investment. Further, when you own a property, you will also likely have invested a lot of money in personal assets. To ensure that your home is properly covered, you should get a home insurance policy.

Gives Liability Coverage

Another reason why you should get a home insurance policy is that it will give you liability coverage. Those that own property are going to take on liability risk whenever they have a guest come over to their home. If your guest does get injured, you could be found liable for any injuries or other damages. Since these costs can be significant, you should get a home insurance policy to protect against this risk.

When you are looking for a home insurance policy in the Denver, CO area, it is important that you carefully consider all of your needs and options. When you are searching for a policy, AFI Insurance is a great company to turn to. The team at AFI Insurance will work hard to ensure you know all of your options. This will help to ensure you get into a great policy that provides appropriate coverage.

Auto Insurance Add Ons

Posted on May 15, 2020May 14, 2020 by AgentInsure

When it comes to your auto insurance you will need to consider a number of variables. It isn’t just about protecting your vehicle, taking out liability insurance, and other forms of personal insurance protection. There are secondary auto insurance add-ons you’ll want to consider. Ultimately it depends on your vehicle and what kind of protection you’re interested in. However, if you live in greater Denver, CO our staff here at AFI Insurance is here to help.

Roadside Assistance

You never know when your vehicle might break down. Whether it is a dead battery while out shopping or you blow a tire while on the highway, paying a tow truck to come out and service your vehicle is expensive. Often you pay by the mile, which really adds up. However, with the roadside assistance, you’ll avoid these costly expenses.

Vehicle Upgrades

Have you made upgrades to your stock vehicle? Perhaps you installed a new stereo system. Or maybe you love to tweak your pickup and have added performance shocks, new LED lighting, and other upgrades. Whatever you’ve done with your vehicle, chances are you don’t want to pay for everything out of pocket a second time. However, if you don’t insure these vehicle upgrades there’s a good chance you’ll be forced to unless you have added insurance for the vehicle upgrades. It’s a good idea to contact your insurance provider whenever you make a large upgrade to your vehicle.

Finding The Right Auto Insurance Add On Coverage

There is no limit to add-on coverage options. It just comes down to what kind of vehicle you own, whether you want to cover certain aspects of the driving experience, as well as how much insurance you can afford. Whatever your budget though and regardless of the vehicle, if you live in greater Denver, CO our staff here at AFI Insurance is here to assist.

Who Should Consider Financial Planning Insurance?

Posted on April 29, 2020April 25, 2020 by AgentInsure

Planning for the future can be complex and carries risks in some cases. Financial planners and others who work in similar fields are often at risk of having liability claims as a result of their planning actions and advice. Having financial planning insurance is the best way to create a layer of protection.

Financial Planning Insurance

Anyone who advises clients, or has an interest in their investments, should have financial planning insurance in place. This coverage is designed to protect the policyholder from liability claims that are related to client losses that may have happened either directly or indirectly as a result of the financial planner’s advice or actions. Unfortunately, investment is never completely predictable and a volatile market can create heave losses that couldn’t be foreseen by those in the business. This insurance will help prevent personal losses as a result of professional actions.

Top Quality Coverage Options

Those who are currently interested in purchasing financial planning insurance should work with a reputable, knowledgeable insurance company with agents who have experiences and can offer insight. People who are working in Denver, CO can count on AFI Insurance to provide all of their current professional insurance needs. The agents can work closely with you to assess your risk and then offer ideal coverage options. Additionally, if there is a claim in the future, they can also help submit information and documents to help the process along.

Those who work in the financial planning industry need reliable insurance that can offer adequate protection from liability. Call or stop by AFI Insurance, serving Denver, CO, to find out more details or for answers to questions regarding insurance coverage.

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Author: AgentInsure