Monthly Archives: February 2018

Will Adding My Teenager Increase My Auto Insurance

When it comes to keeping your teenager safe on the road, you want to make sure they are driving in a safe vehicle. One way to make sure the care they are driving in is safe is by having the tires rotated on a regular basis. Also important is to check the tread depth on the tires and replace them as needed. A tire blowout can lead to accidents and you want to avoid this at any cost. Furthermore, to keep your teenager safe on the road, you should invest in an auto policy. You may be asking yourself if adding your teenager to your policy is going to increase your rate. Let’s take a closer look at the answer to this question. 

Yes, Your Rate Is Going to Increase

Generally, your insurance rate will increase when you add your teenager to your auto policy. Why? Because teenage drivers are at the highest risk of being involved in an accident. Also, your teenage driver hasn’t had an insurance policy before, meaning it will cost more to insure him or her. 

You Have to Start Somewhere

One of the biggest factors insurance companies consider when determining the rate for a driver is whether or not they have had insurance before. Once you add your teenager to your policy as a driver, this will start building up his or her driving history; this will help secure lower rates on insurance as he or she gets older. 

If you would like to learn more about auto insurance for your teenager, as well as other types of insurance, such as health, please contact Colling Insurance Services serving the Lakewood, CO area. 

Pros And Cons Of Healthcare Savings Accounts

Colling Insurance Services, Inc. Lakewood, CO is dedicated to providing practical solutions to its client’s insurance needs.  The Affordable Care Act  (Obamacare) is going through dramatic changes by the new tax law that repealed the ACA mandate. Health tax-free savings accounts are promoted to offer a healthcare plan for individuals to put aside savings to help pay their medical costs. 

The following  federal guidelines must be met to be qualified to set up an HSA:

*    Not eligible for Medicare while you can still use an HSA if the HSA exists before being enrolled in Medicare. But you cannot continue  contributing to your HSA
*    A  High-Deductible Health Plan (HDHP) must be in place when setting up an HSA 
*    HSA can only pay for qualified medical expenses 
*    Not a dependent according to an IRS determination of another’s return

The healthcare savings accounts have been both praised and criticized.


*  Pay for healthcare expenses
*  While individually owned anyone can contribute to your HSA including your employers 
*  Pre-tax contributions which reduce Federal taxable gross income including most states taxable income 
*  Interest accrued or any assets in HSA’s are tax-free
*  HSA funds roll over annually
*  HSA funds are available regardless of changes in health care insurance plans, changes in employer and upon retirement.
*   Debit cards are available to distribute HSA funds and access funds at ATMs


* The requirement for an HDHP
*  Unexpected health care costs when no HSA funds available 
*  Difficult to save money for HSA
*  Non-qualified expenses are taxable with a penalty before reaching retirement age of 65 
*  Must keep good records and receipts
*  Monthly bank maintenance fees

Colling Insurance Services, Inc. Lakewood, CO will keep you advised of the changes in healthcare.  Please call!