Category: Insurance

When it comes to protecting your investment in your business, one of the essentials is commercial insurance. Commercial insurance helps you replace covered items in the event of events such as theft or fire. Although most people know they need commercial insurance, they do not know exactly how much they need to purchase to adequately protect themselves.

Take Inventory

Before purchasing commercial insurance, you need to take inventory of all of the business’ assets. This inventory should also include a figure for the building as well as the property. If you are leasing or renting a building or space in a plaza, you should take into account the value of the building as a whole. Your contents coverage is normally separate from the coverage on the building. To get the right amount of coverage for contents, take the total value of your belongings inside the building and round up to the nearest round figure offered by the insurance provider.

Building Coverage

If you are unable to get an exact figure on the value of the building, try to get an estimate based on the current cost to build in your area. Buy the next round figure closest to the current cost to replace a building comprised of similar materials and considering the current cost of labor in the area where the business is located. Always be certain about your figures to protect yourself in the event of a covered loss. For more information on coverage amounts, contact Denver, CO, AFI Insurance.

Make sure you get the correct amount of coverage by following these tips for calculating the correct amount of commercial insurance to purchase and don’t forget to call or stop by Denver, CO, AFI Insurance to obtain the insurance products you need to protect your investment.

You might not have thought about jetski insurance, aka personal watercraft insurance, when you purchased your jetski, but it is a major necessity before you hit the water. Just as you insure your car and boat, you also need insurance for personal watercraft. The insurance policy issued for various watercraft differs in what it covers.

Jet ski Coverage

This type of policy does not cover liability of the operator. It covers more mundane, but necessary, items like towing, wreckage removal and fuel spill indemnification. Some jet ski policies apply depreciation using a set schedule. If an accident occurs, the amount of damage covered depends on the depreciation value. The policy may not cover the replacement cost of the jet ski. It may only cover the depreciated value. Read the policy carefully and inquire about depreciation. You may want to purchase a separate, replacement value policy that provides for a replacement watercraft if the incumbent becomes damaged.

Operation Area

It also may limit the operation area of the jet ski. If one operates the watercraft outside the given area, coverage is not maintained. Typically, a policy allows operation within inland waterways, lakes, rivers, and within a specified number of miles of the ocean shore. If your kids decide to try stunts in the swimming pool, the pool is not among the covered areas, so jetski insurance would not pay damages.

Liability

Review your home owner’s and auto insurance policies with your agent. The liability coverage of one of these may apply to the jet ski operation. If not, you can obtain separate liability insurance for it.

In Denver, CO, AFI Insurance can help you understand watercraft insurance and help you properly insure your jet ski for many years of enjoyment. It may take more than one policy to provide the appropriate coverage to give you peace of mind. In Denver, CO, AFI Insurance provides knowledgeable agents and a variety of coverage options to help you.

If you are a Denver, CO resident and own a motorcycle, you must have insurance coverage that meets the standards and minimum requirements for the state. The agents at AFI Insurance can answer your questions and review your existing policy to make sure you have the type of coverage you need to protect you from financial hardship if you are involved in an accident.

Every state, including Colorado, requires motorcyclists to carry a specific amount of liability coverage to cover the cost of damages and personal injuries. You have the choice of only carrying enough insurance to meet the state’s minimum standards, or you can choose to purchase additional types of coverage.

Optional coverages can include any of the following:

• Uninsured/underinsured motorist
• Comprehensive or full coverage
• Collision
• Additional medical coverage
• Towing, labor and other miscellaneous

Your insurance agent will be able to determine what types of policies are in your best interest and from there, can build you a policy that can best protect your financial interests. You can choose to purchase all or a few of the optional coverages, as long as you continue to carry the state’s minimum liability requirements. It’s extremely important to carry your proof of financial responsibility documents on you at all times.

The agents of AFI Insurance encourage you to call or visit their office if you live in Denver, CO or any of the surrounding areas and are searching for a specific type of motorcycle insurance policy. Each agent has the knowledge and expertise to answer your questions and match you up with the right policy to meet your individualized needs.

There’s nothing more exhilarating than having your hair being blown back by the wind while navigating through the waters in a boat. Denver, CO has no bigger recreational activity than boating, but owners can feel a bit overwhelm when it comes to buying the right insurance to protect their vessel.

Unfortunately, thousands of boats are stolen or broken into each summer, and it’s especially important to have theft coverage when your boat is housed away from home. Insurance won’t prevent a boat from being stolen, but it can help recover the monetary loss much faster.

The biggest misconception is that a person’s homeowners insurance will cover a boat, and it does if the boat doesn’t have an engine. Think of a sailboat or rowboat, but a $20,000 luxury liner doesn’t fall under this category.

Why? Well, much like an automobile, a boat of this nature is mobile and can travel anywhere, so it will need a separate insurance policy.

Is My Boat Covered for Theft

A standard boat insurance policy will provide limited coverage if your boat has been vandalized, but no coverage for stolen items. To cover your assets, you will need to add an umbrella clause to the policy. The wording states of the risk value taken for having expensive items such as a sound system, large screen television and deep sea fishing equipment being kept on board.

Inventory Your Items

It’s important to keep a detailed inventory record of what is exactly housed on your boat. Take photos or an extended video of the interior and exterior of the boat, and keep them in a safe and secure place. Also, engrave a personal identification code onto all personal items stored on the boat. This will help the local authorities in returning the stolen items back to you. Plus, it may discourage thieves from taking them in the first place.

As you can see, they’re plenty of options to consider when shopping for the right boat insurance policy. At AFI Insurance, we work with clients of Denver, CO to find the best coverage for their boat. To speak with a reputable agent at AFI Insurance, contact us at 866-433-2878.

Life insurance is an important part of your family’s financial plan in Denver, CO. It provides protection for your spouse and children in the event of your untimely death. Sufficient coverage gives you the peace of mind that if something should happen, your family will be able to survive with the loss of your income. Yet, only half of young families have the protection of life insurance a study by the National Association of Insurance Commissioners found.  Further, those who did have insurance were underinsured.  AFI Insurance can help you with the coverage you need.

Term and whole life are two types of life insurance available. Term life insurance covers an individual for a specific period of time.  It does not accrue cash value. It can be renewed but the premiums may increase over time.  Whole life insurance policies cover the individual for the length of their lifetime. As long as the premiums are maintained, the policy will protect the family and grow in cash value. While premiums are higher for whole life policies, when they reach the level that they cover the death benefit, they will be invested and begin building value. You can borrow against this amount if you need to. You will have to pay back this policy loan with interest.  However, in many cases, the interest rate will be lower than a bank or credit card. The policy loan can be used for anything that you would like from bills to vacations.

The team at AFI Insurance serves the Denver, CO area. They can help you get the protection you and your family needs.  Visit their website for information to get started. Then give them a call or visit their offices today.

A commercial insurance policy is difficult for many owners to swallow. It may seem as though the expenses of keeping a business running never end, so it’s hard to justify getting extensive coverage that may eat into other important matters. But AFI Insurance wants the entrepreneurs of Denver, CO to succeed, and skimping on a policy won’t help. See how to start building your commercial insurance policy the right way. 

Answer Some Key Questions 

The best way to decide on a policy is to listing out what’s most important to your business. For example, if you do your selling online, you won’t need to worry about customer injury coverage inside your establishment. However, you may have to worry about the repercussions of a customer being hurt by a faulty product you sold to them. The most common commercial insurance elements include (at a bare minimum) protection of income after a weather event, protection of property from weather or criminals, and employee protection from injuries. Most businesses need to go further to include specific risks that may pertain solely to your industry. 

Taking It a Step Further

When business owners prepare for the worst, they find themselves less stressed when something does happen. Once you’ve thought of all the ways that your business can be threatened, you can decide which ones are likely (e.g., your computer systems might be hacked) and which ones aren’t (e.g., a hurricane destroys most of Denver, CO.) If you have more questions, AFI Insurance can help you put together the best commercial policy for your business. We’re here to find out more about what you do before our recommendations. Give us a call if you’re looking for advice, or just want to get a sense of how we do business!