Monthly Archives: February 2012

What are the Laws Concerning Auto Insurance in Colorado?

Colorado, like all other U.S. states, has auto insurance laws designed to protect drivers financially when collisions cause property damage and bodily injury. In Colorado, you must have at least $15,000 of coverage for property damage that you are responsible for causing. Additionally, you must have at least $50,000 in total accident bodily injury liability, with up to $25,000 available per person injured.

In addition to having coverage, you must carry proof of your Colorado insurance coverage with you at all times while operating a vehicle. If you are caught driving without the minimum insurance requirements, the State of Colorado can fine you $500 for a first offense or $1,000 for a second offense. You may also have your driving rights temporarily suspended.

Purchasing Colorado Auto Insurance

It is important to remember, however, that Colorado minimum coverage laws should be used as a starting point for determining how much coverage you really need. Just because you have enough insurance to legally operate a vehicle, it does not mean that you are fully financially protected in the event of an accident. You should have enough liability coverage to protect you from out-of-pocket costs that exceed your insurance coverage limits, as well as enough auto coverage to pay for repairs to your own vehicle and for your own medical expenses incurred in an accident.

Do I need comprehensive, or liability auto insurance for a car that is high mileage?

When do I need comprehensive insurance for a car that has high mileage? Vehicles with high mileage do not hold their value unless it is a classic automobile. However, there are features that you can add to your policy to cover a broken windshield, offer free towing, add hospitalization coverage, and provide a rental car to your policy. This is a good deal and will not cost as much as full comprehensive insurance.

Should I only purchase liability auto insurance for a car that has high mileage? If that is all that you can afford, it is a good deal that will keep you within the boundaries of the law. If you are still making payments on the automobile, the bank may require you to carry comprehensive insurance with a rider that protects their interest in the vehicle. However, if you own the title and do not care what happens to the vehicle. Get liability because of the high mileage! However, be willing to pay the tow bill and other services that are related to the crash. Then, you can start looking for an auto loan and get that newer vehicle. When you need advice on buying a vehicle with high mileage, contact us for a free automobile insurance quote.

Should I buy vehicle insurance because it is the cheapest?

Thousands of people drive each day on the road who are high risk drivers. No insurance carrier wants to sell someone who meets the criteria of a person who is careless behind the wheel. When should I buy vehicle insurance because it is the cheapest? Companies are popping up like mushrooms all across the nation to reach this market. Only purchase cheap automobile insurance when it is difficult to find someone to insure you. It is cheap auto insurance because it meets to the minimum requirements required by the state.

Cheap auto insurance does not cover a lot of the basic benefits of other policies. If you ever get hit by someone who has cheap insurance, they probably will not have enough coverage in their policy against your loss. Should I buy vehicle insurance because it is the cheapest? It is not a good deal for all involved. In fact, you may want to purchase a higher benefit package from another carrier in case you have more loss than what you can recover. If low rates are a concern for your budget, you do not have to sacrifice good quality coverage. Think of your family when you purchase insurance and not your budet first. We can assist you with the best automobile insurance for you at low rates, get a free quote today!

Why Wood Burners Change a Premium

Insurance premiums hinge not only on your insurance company, but also on the components of your home that make it safe or unsafe. Wood burners, for example, can hike your insurance rates significantly thanks to a perceived risk by insurers. There are several types of wood burners that can cause your insurance premiums to rise, including wood burining fireplaces and the less common wood burning stoves.

Depending on your insurance company’s algorithms for determining rates, having a wood burner in your home may increase your rates by as much as $100 per year. In some cases, an insurer may even refuse to insure your home altogether unless you can provide proof that the wood burner meets safety standards, is up to code in your city and is properly installed.

Alternatives to Wood Burners

Instead of using a wood burning fireplace or stove, consider switching to a gas or electric variety. Gas fireplaces are easy to install and do not require firewood or a lot of time trying to get a fire started. Instead, gas fireplaces create warmth and ambiance with the flip of a switch, and they are more easily controlled than the wood burning varieties. Similarly, gas and electric ovens are more energy efficient than they have ever been, and they are considered much safer than wood burining ovens.

If you must keep your wood burner, consider shopping other insurance companies for more affordable rates. You may be able to find a lower premium for the same coverage from an alternate insurer.