Monthly Archives: March 2012

How do I shop for the best insurance deal in Colorado?

You need to purchase auto insurance before you hit the highways in Colorado. Before you can apply for a mortgage loan to buy your dream house in the state, you need homeowners insurance. And to provide a financial safety net for your family, you need to purchase life insurance, which will protect your loved ones should you die unexpectedly.

And while you want all the protection that insurance can offer, you don’t want to pay top dollar to get it. Fortunately, you don’t have to overspend on insurance in Colorado, whether you’re buying health, life, homeowners or auto insurance. All you have to do is work with an independent insurance broker to find the lowest rates.

Independent brokers can quickly scan live quotes from the country’s biggest insurers. They can then instantly provide these quotes to you. Armed with this information, you can scan the policies available to you to determine which offer the best coverage for the fairest price.

This represents a dramatic improvement from the old way of shopping for insurance. Before, consumers had to spend a day or more on the phone with different insurance companies. Not only was this time-consuming, it was frustrating. You had to tell insurers the same information countless times to get your quotes.

By working with an independent insurance broker, you can no receive dozens of live insurance quotes with one phone call or in-person visit.

If you want to shop for the lowest rates on insurance in Colorado, don’t forget to contact your local independent insurance broker.

Questions to Ask a Colorado Insurance Agent

Searching for information online can be a great place to start when you’re looking for more information on Colorado automobile insurance and home insurance. However, your insurance agent will be able to answer more detailed questions that may not be listed as specifically on the company’s website or on general informational insurance websites. To make sure you get proper insurance coverage for your needs, make sure to ask your Colorado insurance agent the following questions at your next meeting.

  • What is the legal requirement for auto insurance in Colorado? If you’re still driving a 15-year old car from high school, it is usually a cheaper option to just pay the bare minimum for auto insurance. This is because the cost of simply replacing your vehicle after it has been in an accident may end up being cheaper than paying property insurance on it for several years.
  • How can I qualify for discounts? Everyone wants to save money on their insurance payments, and most Colorado insurance companies are willing to help you do just that by rewarding preventive behavior. For example, taking a driver’s course and installing a car alarm can knock down the price on your auto insurance, while installing a home alarm and a new roof can get you discounts on your home insurance.
  • How do I file a claim and how long does the process take? You want to be prepared when a disaster strikes, and knowing what to expect from your insurance company is one of the best ways to do this. Make specific inquiries about certain disasters– minor to major car accidents, roofing collapses, minor hail damage, etc.– to make sure you will have a plan ready for anything.

What Materials Should I Have Ready For a Meeting with My Insurance Agent?

Meeting with your insurance agent isn’t exactly a fun experience, but it’s important to undergo these recommended conferences to make sure your coverage plan is up to date and in keeping with your needs and preferences. Although your insurance agent will be able to access most of the information needed for the meeting, bringing these materials yourself will make the process go much smoother and faster, which is beneficial for both you and your insurance agent. The materials you should bring will vary depending on the type of insurance you and your agent will be discussing. The following lists detail the appropriate materials to bring for meetings regarding both home insurance and auto insurance.

Home Insurance:

  • Your property deed or mortgage documents
  • A list of all construction materials used to build your home
  • Evidence of the age of your home
  • Safety features near your home (law enforcement centers, fire departments, etc.)

Car Insurance:

  • Make and model of the vehicle(s) you wish to insure
  • Vehicle identification numbers (VINs) for each vehicle you wish to insure
  • Name, social security number, birth date, employment status, and marital status of each driver requesting insurance coverage
  • Reports of any former accidents, traffic violations and other related incidences associated with drivers requesting insurance coverage
  • Documents indicating driving school courses taken and certifications earned by drivers requesting insurance coverage
  • Drivers license number, the state in which the license was issued, and the age each driver received his or her license

How much car insurance do I need?

Most states demand citizens to purchase auto insurance if they are going to legally drive. Regardless of the minimum requirement, it may not be enough to protect them. One of the mistakes people make is to not ask the question, "How much car insurance do I need?"

Raise your deductible to get a lower monthly payment instead of purchasing cheaper auto insurance. Auto insurance offers a variety of products that perform different purposes. The best rule of thumb is to be covered against liability for the full amount of your assets.

Liability covers the other vehicle. Your passengers are covered with a Bodily Injury policy. Personal Injury covers those who are riding in your vehicle. Property Damage Liability covers the other persons car. Answer the question, "How much car insurance do I need." . Policies like the ones mentioned do not cover your personal property. You need to determine how much you are willing to cover out of pocket and the amount of insurance you will need to replace your personal property that has been damaged. Keep in mind, your health insurance should be responsible to cover your medical expenses when you are at fault in the accident. For a complete analysis of your insurance, you will want more assistance to determine how much liability insurance you need, contact us for a free quote today.