Will My Condo Insurance Cover Items Outside My Home?

The general rule of thumb with condo insurance in Denver, CO: If it’s inside the building, it’s your responsibility. If it’s outside, it’s covered by the insurance you’ve bought through your condo association.

But there are exceptions. If you rent a pre-furnished condo, those couches and chairs belong to your landlord, and your landlord covers them. And, outside possessions are covered by your condo insurance.

That means garden gnomes, lawn flamingos, doormats, anything, as long as it’s on your inventory.

There may be some exceptions, but these will generally be handled on a case-by-case basis. If you leave your bicycle out on the walkway every night with no bike lock on it, that may count as negligence on your part. Likewise, if you’re bringing boxes into your home while moving in and you decide to leave a few out until morning, and they get stolen.

You don’t need to memorize a long list of rules as to what will and won’t count as negligence on your part. Your condo insurance provider really just wants you to practice common sense. If your items are stolen or damaged, they’ll usually be covered, just so long as you didn’t create a circumstance with an especially high risk of loss or damages.

But where else are you going to put your garden gnome but in your garden? If it belongs outside, you’re probably covered. If it doesn’t belong outside, you might not be. Practice common sense, don’t tempt thieves and vandals anymore than you need to, and you should be covered.

If you’ve just moved into a condo in Denver, CO and you’re shopping,ing for insurance, get in touch with Alliance General Insurance Agency. You can call us up by phone, or visit the Alliance General Insurance Agency website. We can get you the protection that you need.

Who can and cannot benefit from my life insurance policy?

Life insurance is one of the most potent assets for many Denver, CO residents. It is an excellent way to cushion your family and loved ones from the harsh financial reality when you are gone. 

However, many life insurance buyers face the challenge of choosing and naming their beneficiaries. Do you just pick any name on your list? Who can and cannot benefit from your life insurance policy? Alliance General Insurance Agency will take you through the process of naming your beneficiary. Read on to find out.

Who is a beneficiary?

When you decide to buy life insurance, your insurance provider will ask you to name a beneficiary. The people or person you appoint will be the beneficiaries of your life insurance policy. Your beneficiaries will inherit the money in a lump sum from your insurance company upon your demise.

Who can be my beneficiary

The answer to that question is ‘anyone.’ There are no specific criteria for choosing a beneficiary, as this is always a personal choice. Who you wish to be your beneficiary can be a total stranger to you or your family. It does not need to be your spouse, children, or parents; it can be anyone. Who you choose is entirely up to you.

How should I choose my beneficiary?

This is the most challenging part of any life insurance policy buyer. Many people admit to having the pressure to name their families. When choosing a beneficiary consider the following:

  • Who do you think should benefit from your money the most?
  • Do you know anyone in financial need?
  • How many beneficiaries do you have?

It is essential not to be in a hurry when signing your life insurance contract. Choosing a beneficiary is a big financial decision that can impact your loved ones massively. At Alliance General Insurance Agency, we recommend seeking guidance from a qualified insurance expert in Denver, CO.

What You Need To Know About Insuring A Second Home

If you own a second home in Denver, CO, whether it’s a vacation home, an investment property that you’re waiting to flip when the market is looking up, a rental home, or just something you’re saving for retirement, you’re going to find that insuring it is a little different from insuring your primary home.

The big difference: If that home is unoccupied, then you’re going to be paying higher liabilities.

Some insurers might not even cover a home that is unoccupied for more than six or twelve months at a time.

The reasoning behind this is pretty simple: If something happens, there’s nobody around to fix it. This means that if a pipe bursts, nobody’s going to know until it’s already flooded the home. If there’s a break-in, it might be a year before you find out and file a report. If there’s a rodent infestation, they’re probably going to have chewed through a lot of wires by the time you call an exterminator.

An easy way to fix this: Get someone in that home. If it’s a rental property, don’t leave it unoccupied for too long. If it’s a vacation home, see if you have any friends looking for a quick getaway. Or, take this as an excuse to take that vacation you keep talking about. The longer your home goes unoccupied, the bigger a risk you, and your insurer, are taking on.

You’ll also want to let your insurer know when your home is going to be unoccupied. If you’re buying a new policy on a second Denver, CO home from Alliance General Insurance Agency, let them know it’s a second home, and Alliance General Insurance Agency will set you up with the policy you need.

How To Determine What Kind Of Commercial Insurance You Need

At Alliance General Insurance Agency in Denver, CO, we are not only concerned with offering our clients insurance policies, but we also want them to be able to choose the most suitable insurance policy. One of the most challenging insurance policies to purchase is commercial insurance. It is quite confusing. 

We have seen businesses that are under-insured and the ones that purchased a policy that does not cover the risks they face. To mitigate that, we have given a few tips on how to choose the right kind of commercial insurance for your business. The three main types of commercial insurance are liability insurance, property insurance, and worker’s compensation.

Know exactly what you need

Every business has a unique set of needs. Even two different companies offering the same kind of business face different types of risks. So, before you purchase any policy, list out what your risks are. The kind of business you do will determine your risks. 

Besides, it is better for you to list out your risks to your insurance company and allow them to suggest the policy that covers such risks. 

Know your coverage limits

You should not just stop at asking about the coverage, you should also know the limits. So, you can get adequate coverage for your business, employees, and your equipment. It is a good idea to read every policy before making a choice. 

Strike a great premium-deductible balance

This is the most difficult decision you have to make when choosing an insurance policy. The premium is the amount you pay your insurer monthly or annually. The deductible is the amount you pay from your pocket to fix an insured occurrence before your insurer pays you the remaining part of the bill. 

You may choose lower premium and higher deductible because you only need to pay a deductible when something happens. On the other hand, when your equipment gets damaged or stolen, your compensation may be too low because you have been paying a lower premium. Make the right choice. Protect your source of livelihood. 

For more information or professional guidance on choosing a commercial insurance policy, you can reach out to us at Alliance General Insurance Agency in Denver, CO. 

Do I need uninsured or underinsured coverage in Denver, CO?

Drivers in Denver, CO are required to carry certain kinds of coverage in case they are ever in a crash. The main part of the policy is basically a liability portion in case they are ever found to be at fault in an accident that caused injuries and/or physical damage.

But what happens when you are not at fault, and the other party doesn’t have insurance?  Or if the damages caused by the accident cost more than the other person’s policy limits?  That is why Colorado also requires drivers to at least offer uninsured/underinsured motorist protection to their policyholders. 

Your uninsured/underinsured motorist policy will cover medical expenses if someone causes you to be injured but doesn’t have coverage. The amount of coverage will be equal to the amount of coverage you chose for the liability portion of your policy. If you choose higher liability than required, you could potentially benefit from the extra protection.

You can choose to reject uninsured/underinsured insurance, but you must do so in writing. If you do choose not to have the coverage, you will be vulnerable if you are the victim in a crash. 

At Alliance General Insurance Agency, we offer not just uninsured/underinsured coverage, but also coverage for other kinds of risks not covered by the required minimum insurance. Many people choose comprehensive or full coverage so they are protected in case of vandalism, theft, damage caused by weather, and non-vehicle accidents.

Driving in Denver, CO should be as stress-free as possible. If you are worried that you don’t have enough protection, or if you want to see if you can save money on your auto insurance, please feel free to contact Alliance General Insurance Agency today.

Who Needs Condo Insurance?

If you are considering buying a condo, you may want to learn more about condo insurance. Even if the building has insurance in place to protect the structure, you will need condo coverage to help protect your valuable items within the residence. 

What Does Condo Insurance Cover?

Typically, condo insurance covers the walls and the interior of the space if there is damage due to a covered incident. Additionally, your personal belongings and major applicants are covered. This policy also provides liability protection in the event of an injured guest. Before making a purchase, be sure to understand what the buildings master policy protects and then seek the assistance of an insurance professional to help you build a coverage plan that fits your needs. 

Find A Quality Agency

One of the best ways to get the coverage that suits your circumstances is to work with an insurance agent. They can find a variety of options to offer and can explain how each policy works to protect you from a variety of hazards. Additionally, they may also be helpful in determining if any additional coverages are wise. If you live in or around the Denver, CO area, you can count on Alliance General Insurance Agency to give you the one on one service you need. They can assist you with the entire shopping process as well as assisting you with any future claims. It’s a personalized service to help you meet your insurance coverage goals. 

Don’t select your condo insurance policy without consulting with an agent from Alliance General Insurance Agency. They look forward to serving the residents in the Denver, CO area. Call or stop by today to find out more. 

Is Your Home Protected Against the Risk of Holiday Accidents?

The holiday season was made for festive celebrations. Whether you’re planning family dinners or holiday gatherings with neighbors and friends, you’ll need to prepare your home for the influx of visitors. Part of this preparation is reviewing your home insurance to ensure you’re covered against any eventuality. The right home insurance coverage from Alliance General Insurance Agency will protect your Denver, CO home against holiday accidents that can disrupt your festivities. Here’s how home insurance can protect you during the holidays.  

Dwelling Coverage

If an accidental grease fire gets out of control when preparing holiday meals, it could cause substantial structural damage to your home. Dwelling coverage protects you against fire damage so you can recuperate your losses. Dwelling insurance also protects you against natural disasters like severe snowstorms that are common in Colorado during winter. Ideally, you should have sufficient dwelling coverage to rebuild your Denver CO home in the event of a major disaster.

Property Coverage

When you have a house full of guests, there’s a greater risk of accidental damage to personal property. You may sustain scratches on your new dining room table, rips on costly living room furniture or stains on expensive carpeting. Children may break a valuable heirloom during rowdy play. Property insurance will cover the cost of repairing or replacing goods that are accidentally damaged during the holidays.  

Liability Coverage

If a grandparent slips and falls while visiting your home or an aunt suffers a kitchen burn while helping with holiday cooking, liability coverage will help cover their medical costs. Liability coverage protects you against accidental injuries visitors have on your property, so you don’t have to pay for their medical expenses out-of-pocket.

For quality home insurance coverage to protect you against holiday accidents and disasters, contact Alliance General Insurance Agency in Denver, CO. 

What Kind Of Coverage Can I Get For My Car?

As a resident of Denver, CO, you might know the state’s mandatory liability law on automobile insurance. While Colorado requires every vehicle in regular operation to have liability insurance, this is not the only insurance available to local drivers. Alliance General Insurance Agency wants our readers to know the many options available to you today.

Liability Coverage

This is the minimum required to drive legally in Colorado. Liability insurance covers bodily injury and property damage to another person in an accident where you’re determined to be at-fault. There is a specific amount of coverage you must have to meet the legal limit, but you can purchase more than the minimum liability amount.  It does not provide compensation to you after an accident, whether or not you caused the accident.

Uninsured / Underinsured Coverage

When an uninsured driver causes an accident that harms you or your property, this coverage kicks in to help pay for those expenses. When the other driver has insurance, but their policy limit isn’t enough to cover your medical bills, underinsured coverage can make up the difference. 

Comprehensive Coverage

This type usually covers damages caused by natural events such as fire or hail, or the acts of other individuals like vandalism or theft. Your policy will list the potential covered perils. When your vehicle suffers damage by such perils, comprehensive coverage can help pay for repairs or replacement of the vehicle.

Coverage for Everything Else

These are just a few examples of the policies available to drivers in the Denver, CO area. There is coverage for virtually any peril or vehicle type out there. From rare classic cars to hard-working utility trucks, Alliance General Insurance Agency has a policy that’s right for you!

Do I Still Need Liability Insurance if my Classic Car is Trailered to Events

There are many classic car enthusiasts who never put their vehicle back on the street once it has been fully restored. This is usually the case if the car is extremely rare or has a high value. In Denver, CO, the agents at Alliance General Insurance Agency can work with the clients to find the right type of policy for their classic car, especially if it isn’t going to be driven.

Mandatory Insurance

Every vehicle requires a mandatory amount of liability insurance if it is going to be driven on the road. If a classic car is going to be trailered from place to place and not driven on the road, you don’t need to carry mandatory insurance on it all the time. Even though you may not need a policy in place all the time, you may want to consider putting a liability policy in place, whenever you take your car to shows or events.

Protect Your Investment

As with any other valuable item, you will want to do whatever you can to fully protect your investment. It’s essential that you purchase a policy that will cover repairs to your car if it receives any type of damage while in transit or while sitting on display.

Events are a time to show off your pride and joy. It’s important to have sufficient insurance in place to protect your investment at all times. The agents of Allied General Insurance Agency are available to ensure that car enthusiasts in Denver, CO have the coverage they need when traveling to and from events. Call your agent today!

What Does Denver, CO Renters Insurance Cover

The best question to ask yourself when considering renter’s insurance is how much it would cost to replace everything you own? If you are a young professional with just a few personal items, then you may not find the monthly payments for renter’s insurance worth the benefits. However, if you have an established apartment or house with many expensive and important personal items and electronics, then renter’s insurance may be a very, very good idea.

This is because despite what you might have been told, your landlord’s insurance policy will not reimburse you for any property that is stolen or damaged. Your landlord’s insurance policy also won’t reimburse you for any expenses you have should your home suddenly become unlivable due to a disaster like a water line break or fire. But a renter’s insurance policy will.

The Big Benefits of a Denver, CO Renter’s Insurance Policy

Landlord and commercial property insurance policies typically cover only building materials and public spaces (such as elevators or stairwells). Anything within the confines of your apartment is typically not covered. For that, you need renter’s insurance. A standard Alliance General Insurance Agency renter’s insurance policy will provide the following coverage:

  • Personal property contents coverage. This offers financial coverage for any personal property and belongings in the event of theft, fire, water damage not related to flooding, and more.
  • Living expenses due to peril. If an event like a fire or burst water pipe makes your home unlivable, then your policy will reimburse you for expenses necessary (i.e. hotel) until the situation is resolved. 
  • Premises medical coverage and liability. If someone is injured in your home, such as by a dog bite or a trip and fall, then your renter’s insurance will pay for medical expenses and protect you in the event of a lawsuit. 

Sign Up for Your Denver, CO Renter’s Insurance Today

Renter’s insurance can provide you with an excellent safety net in the event of a disaster. Learn more by contacting our team at Alliance General Insurance Agency.