Monthly Archives: December 2021

Is Boat Insurance Needed in CO?

Boat insurance is not required in Colorado; however, this doesn’t mean that your finance lender will not require insurance or that you should skip having coverage. Generally speaking, if you financed the purchase of your boat, the lender will require that you carry boat insurance coverage till the vessel is paid off because this ensures that their investment in you is protected should an accident happen. In addition, storing your boat at a marina may result in the insurance being a requirement in your storage agreement. Regardless of whether or not it is required, boat insurance is a must. Interest in boating is exploding with accidents on the rise and boats are not an inexpensive investment. 

Factors that influence the annual premium can include the type of boat, the boat’s length if it is being used in a commercial capacity, where the boat is being stored, and the amount of coverage you purchase. Boat insurance policies can vary from one provider to the next, but typically coverage will include liability insurance that pays the costs associated with an at fault boating accident, comprehensive insurance for non-collision related damage, equipment insurance for things like fishing gear, GPS devices and towables, uninsured boater insurance to help pay for damages or medical expenses if another vessel hits your boat and doesn’t carry insurance. 

Having a boat insurance policy can save you substantial money if there’s an accident and having a professional like the team at Colling Insurance Services Inc in Lakewood, CO by your side will help you find the best coverage possible. Give Colling Insurance Services Inc a call or stop by our conveniently located office in Lakewood, CO to learn more about our boat insurance offerings. 

How Can an Umbrella Insurance Policy Help You?

Similar to a real umbrella, umbrella insurance can protect you from a variety of things. This type of personal insurance offers additional liability coverage when you need it most, such as from extensive claims and lawsuits. Serving Lakewood, CO, Colling Insurance Services Inc. wants to share how an umbrella insurance policy can help you.

What Does a Personal Umbrella Insurance Policy Cover Typically?

Generally speaking, umbrella insurance is designed to protect you from a variety of events that may lead to significant financial loss. For instance, if your home is paid in full and you own a second property that you want to protect, a personal umbrella policy may help extend your insurance protection.

Umbrella Insurance and Your Auto Insurance

If you are ever worried about your auto insurance policy not being enough to cover damages that are sustained in an accident, or if you are ever sued after causing an auto accident, an umbrella policy may be something to consider.

Umbrella Insurance and Your Homeowner’s Insurance

If someone slips and falls on the swimming pool deck and suffers a very serious injury, they may decide to sue you for the medical expenses, pain and suffering, etc. In the event your homeowner’s policy fails to cover all of the expenses, you are left paying for those expenses out of your own pocket.

The good news is that an umbrella insurance policy can help cover those costs.

How Exactly Umbrella Insurance Works

Ultimately, umbrella insurance will step in when your homeowner’s or auto insurance limits have been reached, providing you with additional protection to take care of the unexpected that has come up.

If you would like to learn more about umbrella insurance and how it may relate to situations more specific to you, contact Colling Insurance Services, Inc. Serving Lakewood, CO, our team can discuss umbrella insurance options with you, work with you to customize your coverage so it fits your individual needs, and ensure your personal assets are safeguarded moving forward.