Author: AgentInsure

When you already have a variety of insurance policies, such as home, auto, and health, it’s easy to wonder why you would need additional insurance on top of what you already have. If you live in Denver, CO though, it may help to at least understand more about what specialty insurance is and who it’s meant for. AFI Insurance is here to give you the basics so you can decide for yourself. 

A Broad State of Coverage 

Specialty insurance is for a specific event, but that event can be nearly anything you can think of. For example, you may use it to cover your home’s roof because you already know it’s aging and you don’t want to pay your full deductible. Or you may choose to get a specific item covered, such as a diamond ring or a snowmobile. Different carriers will offer different kinds of specialty insurance, you may need to check with your policy writer to find out more about what’s available to you. 

Think About It 

The best thing that you can do to decide whether or not you want specialty insurance is to think about the events that you would specifically like to avoid. Whether it’s a liability lawsuit, the theft of a certain object, or the destruction of your property, this can help you figure out if specialty insurance is worth it for you. 

Taking Action 

Part of protecting yourself in Denver, CO is not necessarily buying all the insurance in the world, but simply knowing when coverage is useful and when it isn’t. If you have any questions about how to keep yourself out of trouble, contact AFI insurance today to see how we can help. 

According to Forbes, Denver, CO is the #4 best place in the country for businesses and careers.  That is great news but anyone who owns a business knows that it comes with a lot of uncertainty and worry. At AFI Insurance we would like to be able to help mitigate some of that uncertainty. We can help you navigate the complicated world of commercial insurance and help create a policy that offers you the protection you need and none that you don’t.  Commercial insurance has different components and you can pick and choose what components fit your business model. 

Business Liability

If people are visiting the location where you are doing business it is always possible that one of them could be injured. Someone could also be injured by some information you gave them or by one of your products. Business liability insurance gives you protection against legal actions that may be taken against you. 

Business Interruption Insurance

If something happens to disrupt your business, you will still have obligations. Just because your business has to close your bills don’t go away. You need to get a salary and pay your normal operating expenses. This type of insurance does have exclusions so be sure to know what they are, but it can be the difference between staying in business and closing your doors. 

Business Property Insurance

If you own the building where your business is located or even if you rent property insurance can save your business. Beyond the building, you have office equipment. supplies, inventory, and machinery. All of these could be damaged by a variety of hazards. 

At AFI Insurance we have been in the insurance business since 1996. We have the experience you are looking for in your insurance professional. We look forward to helping you create a commercial insurance policy that protects you and your business at a price that makes sense. Give us a call or stop by our office for a no-obligation quote. 

When you start making your plans to retire in Denver, CO, you probably think of the most obvious sources of retirement income, such as savings and retirement accounts. Most people don’t realize how important insurance is to any financial planning.

At AFI Insurance, we can help you understand the ways insurance will help you with your own financial plans. While insurance serves a short-term purpose when helping you recover after a fire or other disaster, insurance can also help protect you in the long run to achieve the goals you have set yourself for your retirement.

Life Insurance

This is the kind of insurance most associated with financial planning, in that a sound life insurance policy can help you or your family even if one of you dies. You don’t want to leave your family in need, so it is important to get a policy payable on death. If your family is still young, you might need a sizeable enough policy to pay off a mortgage, put children through college, and pay off any debts you accumulated in your lifetime.

You will also need to consider if you have a special needs child who will need longer care or parents who still have needs. You don’t want to wait until it’s too late to try to provide help for them.

Other Kinds of Insurance

Even though they are not directly involved in financial planning, other kinds of insurance help keep you on track to maintaining your goals. If you crash your car in Denver, CO, you don’t want to have to pay for the damages out of your own pocket. If your home is burglarized, you want to know you’re protected.

If you would like to talk about your future and how insurance can help with your retirement, please call AFI Insurance.

If you are like most people you are probably asking yourself what is specialty insurance?  It sounds exotic or different and in a way it is. In the broadest terms, specialty insurance is coverage for things or events that would not be typically covered by insurance that you already have. At AFI Insurance in Denver, CO we would love to sit down with you to discuss what needs you may have for specialty insurance.

Specialty for insurance purposes is defined as meeting special needs. These special needs can be personal or business. The range of specialty insurance that is available is wide and the price will depend upon the amount of risk that is involved for the insurer. Many companies offer specialty policies but not all of them are created equal and that is where a knowledgeable insurance agent can make all the difference.

Flood -Flood damage to your home and possessions is not covered under your home insurance. You need to have a special policy to cover this particular eventuality.

Cancellation– whether it is the trip you have been dreaming of for years or the most important day of your life when you want to feel protected, specialty insurance can make sure that while you may still be disappointed you won’t be out a ton of money as well.

Power vehicles– if you enjoy the thrill of riding an ATV, powerboat, motorcycle or snowmobile, you need insurance beyond what your auto vehicle offers. This also goes for a jetski, classic car or motorhome.

Now that you have at least a small idea about what specialty insurance is and why you might need it, why not take the time to give us a call at AFI Insurance in Denver, CO or stop by and let us help you to make sure that you have the coverage you need.

Certain life insurance policies are designed to pay death benefits to the beneficiaries and to be an investment vehicle for the policyholder. Work with your agent at AFI Insurance, serving Denver, CO and the surrounding area, to get more of the details because there are many options in these products that can be customized for your life goals and financial planning. 

To get an overview, let’s consider a basic explanation of two types of life insurance, which are Universal Life (UL) and Indexed Universal Life (IUL) to understand how these life insurance policies work.

Universal Life

Universal life insurance is available in many types that include fixed-rate models and variable-rate versions. For a UL policy, you make selections of equity accounts for the associated investments. Cash values are allocated to build up a fixed account.

Indexed Universal Life

If a UL policy is tied to the performance of a stock market index, then it is an IUL policy. The stock market index used may be the S&P 500, the NASDAQ 100, or others. No money is directly invested in any equity positions, only the overall index performance is used to calculate the financial performance of the IUL policy. This makes an IUL policy have more risk than a UL policy.

A Comparison of UL and IUL Policies

Both UL and IUL policies have a death benefit. Both have investment characteristics. An IUL policy can offer a cash accumulation that is tax-deferred for use in retirement. These IUL policies are used to insure a business owner as key-person insurance. They are also used for estate planning and have some upside potential if the equity index performs well over time.

Summary

UL and IUL products are very complex financial instruments and have specific uses that are not always good for everyone but can be effective for others. Work carefully with your tax advisor, investment advisor, and your agent at AFI Insurance in Denver, CO to get the information you need for considering these products as part of your long-term financial planning.

The Denver, CO area is a fast-growing city and metro area that offers a lot of opportunity to anyone that would like to invest in their own business. Those that are looking to start their own company still need to consider all of the risks that could impact their operations. One way that you can mitigate many of these risks is by getting a new commercial insurance policy, which can benefit a business owner in many ways.

Gives Protection for Liability

One risk that all business owners need to continue to be aware of is the risk of being sued for liability. No matter how careful you are and how diligent you are with your practices, there is still a risk that you could be found at fault for a customer’s injury or illness. If this occurs and there are damages, it could jeopardize the financial strength of your company. Fortunately, a good commercial insurance policy can mitigate these risks through liability insurance.

Protects Your Company Assets

No matter what type of company you start, there will become a sort of upfront investment to buy equipment and inventory. If you happen to be a victim of a fire, water damage, or even theft or vandalism, this entire investment could be wiped out. Because of this risk, you should make sure that you always have a good commercial insurance policy in place as the property protection could keep you solvent if an accident occurs.

Ultimately, having commercial insurance can protect your company in a lot of ways. Those that are in the Denver, CO area should contact the team at AFI Insurance to discuss their insurance needs and options. AFI Insurance could provide you with a lot of insight into your insurance needs and options for your company.