Author: AgentInsure

One type of insurance could protect you from facing lawsuits in the future. Liability coverage helps you avoid losing your assets due to an injury, major incident, or accident. Of course, liability coverage comes in many different forms. No two insurance policies are exactly the same.

AFI Insurance serves Denver, CO, offering liability coverage in many forms. Here’s how getting insurance is ideal for financial planning purposes.

Liability Coverage Can Protect Your Assets

When you have a lot of assets, you do not want to risk losing them because somebody else was injured or experienced damages. For example, liability insurance could help you avoid being sued if your business helps somebody make financial decisions that ultimately cause them to lose money.

Liability Coverage Is Available for Many Types of Incidents

Often, accidents hurt when they are not at all expected. Liability insurance provides you with the opportunity to cover injuries from a variety of incidents–even those that are not physical. For example, you may have added protection if you give somebody advice that does not pan out for them.

Your Liability Coverage Options Are Flexible

You have so many different liability coverage options. Each option can provide great protection, even if you are dealing with serious allegations or accusations. Of course, liability coverage can also cover physical injuries, protecting assets like cars and houses.

Check Out Your Liability Coverage Options

AFI Insurance helps those living in Denver, CO so they can make the best decisions regarding their financial future. If you want some help with financial planning, a professional can help. Contact an insurance agent to learn more about your options.

Regardless of whether you have purchased an RV for occasional road trips or a full-time residence, insurance is something you need. Because an RV is more than your standard automobile, specialty insurance is often needed. Here at AFI Insurance, we want Denver, CO residents to be familiar with the coverage options available beyond the typical comprehensive, collision, and liability coverage. Specialty insurance offers options that a standard auto insurance policy simply cannot.

Full Replacement Cost Coverage

In the event that your RV is totaled in an accident or stolen, comprehensive coverage through your auto insurance policy will generally pay to replace the RV at a depreciated value. This means that you can only expect to receive the amount that your RV was worth at that exact time. However, if you have RV insurance, you can opt for full replacement cost, which will provide you with compensation for the entire cost of the RV.

Personal Property and Accessories Coverage

RVs are often loaded with a ton of accessories that a typical auto insurance policy will not cover, including camping supplies, cooking appliances, awnings, furniture, satellite dishes, and the like. In the event your property is damaged or stolen, specialty RV insurance will be needed in order to repair or replace it.

Vacation Liability Coverage

When you have your RV parked at a campsite or in an RV park, it is considered a temporary residence. It is a good idea that you have some kind of liability insurance to ensure that any damages are covered in the event of an injury or accident, such as if the kids are outside throwing a baseball back and forth and it goes through a neighbor’s RV’s window.

Full-time RV Coverage

If you plan on utilizing your RV as a permanent and/or primary residence, this is a form of coverage that you will need. It will offer a higher limit of personal liability coverage that is similar to that of a homeowner’s policy. It will also offer medical payments if someone is injured, along with personal property coverage.

Whether you have an RV for temporary or primary use, specialty insurance is necessary. Reach out to us at AFI Insurance to find out more about insuring your Denver, CO recreational vehicle.

Most people understand how important life insurance is, especially for their beneficiaries. However, when shopping for insurance, there are certain mistakes you can make that may end up jeopardizing the financial security of your loved ones. As AFI Insurance of Denver, CO explains, here are some of those mistakes you should avoid.

Taking Too Long to Buy Insurance

When you are buying life insurance, you will have to factor in the coverage you need and the cost. The cost of premiums is calculated based on factors like your overall health and age. Therefore, buying a life insurance policy earlier works in your favor if you want to pay little for your policy. The longer you postpone buying, the more it will cost you eventually.

Buying The Wrong Coverage

You can either buy term or permanent life insurance. However, before you buy, take a look at your situation and the goal you want to achieve. Term life insurance has a timeframe after which the policy expires. It is also cheaper. On the other hand, permanent life insurance lasts you a lifetime, but premiums are a bit expensive. Analyze both and see which will benefit you and your family the most.

Failing to Disclose All The Information

When buying life insurance, you have to give a stranger all your personal information, including your driving record, drug prescription history, and health condition. Hiding any of this information can make the insurance company refuse to give your family a death benefit, claiming you were in breach of the contract.

Naming The Wrong Beneficiary

When naming the beneficiary, it is natural for you to name your children. However, note that minors cannot receive the death benefit directly. Therefore, name the guardian of your choice and save your kids from unnecessary court proceedings.

Here at AFI insurance serving the people of Denver, CO, we can walk you through the process of buying life insurance to prevent you from making these mistakes. Contact us today for assistance as we will help safeguard your and your family’s financial future.

Commercial insurance comes in handy in protecting your business against liabilities, accidents, natural disasters, and other risks. While business insurance is crucial for your business, do you ever ask whether the coverage you have is adequate? 

Unfortunately, many business owners in Denver, CO, and other parts of the country only have the state-required commercial insurance coverages. Whereas this might seem like a well-thought-out savings strategy, it could become catastrophic when certain risks strike. 

Not sure if you have adequate business insurance? AFI Insurance is here to guide you.

General liability insurance

While this coverage isn’t mandatory in Colorado, it’s crucial in protecting your business against liabilities from third parties. But how much of this insurance do you need? The first step is to understand your business. How risky are your products? How safe is your working environment? These questions will guide on the amount of liability coverage needed.

If you find your business at high risk of liability claims, it will help to consider umbrella insurance. This coverage provides extra liability protection when your typical commercial insurance coverage runs out.

Commercial property insurance

How are your business’ assets financed? If they are financed by a lender, find out the minimum insurance requirements as per the loan agreement. 

Additionally, know the value of assets. And here, you could consider the actual cost of the asset or the value it would cost to replace your assets today. If the asset is pivotal for your business, you are better off with the replacement cost. However, premiums based on this value are usually higher than the historical cost.

Commercial auto insurance

Since this coverage is mandatory in Colorado, the first step is to satisfy the state requirements. Colorado requires all commercial vehicles to have commercial auto liability coverage of $25,000 bodily injury per one individual and twice the amount per accident. Besides, you are required to carry property damage liability with a minimum of $15,000.

While these are the required coverages, you must consider higher limits for well-rounded protection.

Get commercial insurance coverage today

Still not sure about how much business insurance you need? Please talk to AFI Insurance of Denver, CO. Better yet, we will help you get affordable coverage.

AFI Insurance provides coverage to the Denver, CO community. We work closely with our clients to help them find a policy so that they can protect their assets. We offer flexible policies that evolve with you as life changes. We work with multiple carriers across Colorado. We look forward to helping you cover your most important assets.

How Financial Planning Insurance Impacts People With Critical Illnesses

As you start preparing for retirement, you may start inquiring about financial planning insurance. The policy can help supplement your retirement plan and ensure that you live comfortably as you transition out of the workforce.

One specific type of financial planning insurance is critical illness coverage. The average life expectancy in Denver, CO continues to rise. While people are living longer, they are also at risk of developing a critical illness such as a stroke, heart attack, or being diagnosed with terminal cancer.

If you have been diagnosed with an ailment, critical illness coverage can protect you. The policy covers your extended hospital stay, treatment, and rehabilitation. The policy wants to help alleviate some of the stress that you’re going through so that you can focus on getting better. You can amend your policy to receive transportation to and from your appointments. You are also covered if you need assistance with your children while you receive treatment. You can also use the policy to take a vacation with your loved ones and relax.  If your condition isn’t quite as severe, you can look into other types of financial planning insurance such as disability insurance, which covers you if you are unable to work due to your medical condition.

AFI Insurance Will Help You Protect What Matters Most

Visit our website to learn more information about financial planning insurance.

Specialty insurance is insurance for special circumstances, businesses, or property. Researching specialty insurance in the state of Colorado is not easy. AFI Insurance serves the city of Denver, CO and is here to help you understand the types of specialty insurance available to you.

Specialty Business Insurance – some business operations are unusual or may have extraordinary products, such as cannabis. Additional specially curated insurance for your business will leave you with peace of mind.

Specialty Auto insurance – when considering vehicles in the modern world, there is so much more to offer than the automobile parked in your garage. Sometimes your standard auto insurance isn’t enough. That is where specialty insurance comes in to help to cover the extras.

Special event insurance – events come and go but sometimes you have spent a lot of time and effort, and yes, money on the event, it would be worthwhile getting some extra insurance. That is particularly true in terms of liability.

Specialty medical insurance – medical insurance is complicated. If you or your loved ones suffer from a unique illness, it is worth contacting an insurer like AFI to see if there is a special kind of insurance that will provide cover.

Specialty Disaster Insurance – make sure that in the event of a disaster you have complete coverage. Consult your insurance to make sure you are covered for every eventuality.

Whether it is time to review your policies, or if you are only starting out with getting yourself insurance, speak to AFI insurance serving the city of Denver, CO. Make sure that you are not left out in the rain when faced with special circumstances.