Monthly Archives: July 2017

Common Mistakes People Make When Buying Boat Insurance

Colling Insurance Services Inc. helps citizens of Lakewood, CO get the insurance coverage they need to protect all their investments. However, people in this great city often make coverage mistakes when insuring their boats. These mistakes can end up costing you thousands of dollars if your boat gets damaged.

Canceling Coverage During Off-Season

When people aren’t using their boats, they operate under the assumption that they don’t need insurance. That isn’t always the case! What happens if your boat storage shed gets hit by lightning and your uninsured boat burns up? Then you are really up the creek with no paddle. Always get year-round coverage or else you run the risk of this serious problem.

Dropping Or Limiting Insurance After Paying Off The Boat

Another common mistake is dropping coverage or limiting it after paying off the boat. Many people only get boat insurance to help protect themselves from angry lenders if the boat gets damaged. However, your boat may still be the center of various problems, such as personal injury lawsuits. Keep your insurance to avoid serious lawsuits.

Being Cheap

Trying to save money by buying limited liability insurance or the lowest possible policy will only cause your heartache if your boat gets damaged. These policies will do very little to replace a boat if it is totaled, meaning that you will end up losing all your money. While you don’t have to buy the most expensive insurance package available, don’t be cheap.

Contact Us Today

If your Lakewood, CO boats need high-quality insurance and you are afraid of making coverage mistakes, please contact us at Colling Insurance Services Inc. We will work with you to find a policy that covers your boat, doesn’t cost you too much, and helps repair or restore your boat in case of damage.

4 Things nobody told you About Umbrella Insurance

In general terms, umbrella insurance will offer an extra layer of protection against liabilities. With umbrella insurance, you will have a peace of mind even if you are responsible for an accident. Unfortunately, umbrella insurance is more beneficial to certain individuals as compared to others due to certain exclusions. These exclusions are discussed below. 

1. There are some risk factors which could impact your coverage.
The most attractive aspect of the umbrella policy is liability coverage. However, there are some risk  factors which could influence your coverage, these includes: 

  • Traveling for long hours
  • Commuting during rush hours
  • Having dogs
  • Owning swimming pools

2. The Insurance will not cover all Lawsuits
When you commit an intentional crime such as property damage, bodily harm, discrimination, and sexual harassment, your Umbrella policy will not cater for the liabilities. The role of an umbrella policy is to help you in the case of unintentional accidents, but not malicious acts.

3. Your Coverage can be influenced by "Attractive Nuisance." 
Attractive Nuisances can be described as the equipment or features on your property that could cause harm. They include sports equipment, jungle gyms, swing sets, hot tubs, and swimming pool. Your Umbrella insurance will cater for property and personal liabilities caused by these attractive nuisances.

4. Some Dog Breeds will not be covered by Umbrella Insurance
Your primary insurance may cover dog bites, but some injuries might require reconstructive surgery and compensation due to the wages lost. Umbrella insurance will help you out in the case of such situations. However, there are dangerous dog breeds which are at times excluded from the coverage, which is why you should check whether your dog breed is covered.
Umbrella insurance will help you out in the case of liabilities regardless of whether you are at fault or not. You should, however, stay informed about the type liabilities that your policy covers and those that it doesn’t. For more information contact Lakewood, CO, Colling Insurance Services, Inc.