Category Archives: Commercial Insurance

Legal Issues About Worker´s Comp Insurance

Not everyone understands that workers’ compensation insurance is designed to protect both the worker and the employer. The protection for the employee comes from the fact that employers in the state of Colorado are required by law to carry workers’ compensation insurance. The employer must pay for this insurance and cannot deduct the expense from employees.

By having workers’ compensation insurance, employers are protected from lawsuits by employees due to on-the-job injuries. Employers who need help with workers’ compensation insurance should contact an agent at Colling Insurance Services Inc. serving Lakewood, CO.

Legal Responsibilities of Employees

If an employee suffers an on-the-job injury, the worker must promptly report the injury, file a claim with the help of the employer, and follow the rules. When an employee does this properly, the employee is entitled to compensation for medical expenses and may be entitled to lost wages for the time the employee is unable to work. If an employee dies due to an on-the-job accident, the employee’s surviving family members or beneficiaries receive a death benefit.

Legal Responsibilities of Employers

Employers in Colorado must have workers’ compensation insurance if they have a single worker or more.

Additional requirements for employers are:

  • The business must put up a poster called “Notice to Employer of Injury” in a prominent place where all employees are able to see it.
  • The employer must maintain records of all the on-the-job injuries and occupational diseases that happen and the work-time lost because of these.
  • Employers must report injuries that cause lost work-time within ten days of injury’s occurrence by using the “Employer’s First Report of Injury” form. This form is sent to the insurer and then the insurer forwards a copy to the Colorado State Division of Workers’ Compensation.
  • Upon an injured employee’s return to work, employers submit a “Supplemental Report of Accident” form to the insurer and then the insurer forwards a copy to the Colorado State Division of Workers’ Compensation.

The Extra Benefit of Maintaining a Safe Working Environment

Employers with a worker safety program in effect for one year and those that can document their safety record may qualify for a certificate that gives them a 10% reduction on the payments for workers’ compensation insurance.

Get a quote from your agent at Colling Insurance Services Inc. in Lakewood, CO for any workers’ compensation needs.

How to Insure a Second Location as Your Business Expands

Having a successful small business is terrific. Many business owners who find success with a particular business style do well by expanding it. They take a successful style and copy it by establishing a second branch in another location. Work with your agent at Colling Insurance Services Inc. serving Lakewood, CO and the nearby areas, to replicate your business success with a commercial insurance review that incorporates the needs of the original and the new location(s).

If the new location is within the state of Colorado, it is possible to combine coverage in ways that are beneficial to the business owner. If the new location is not within the state of Colorado, your agent can help with recommendations of how to get commercial insurance coverage in another state.

Commercial Insurance Review

In general, having a yearly review of commercial insurance is a good idea. A review is critical before establishing a new location(s). Commercial insurance needs to be put in place prior to starting the business operations to make sure there is no gap in coverage. Even during the period when a business sends staff to get a new location(s) ready for operations, there needs to be commercial insurance already in place.

It is important when considering the impact on the business by a new location to think about business interruption insurance. If a business has two locations or more and there is a business interruption, it can take substantial resources to keep the business from failing. This type of commercial insurance helps the business survive if there is no cash flow coming in to the business.

Compare Increasing Policy Limits with New Policies

Increasing policy limits may be an alternative that may be possible and advantageous when compared to getting a brand new policy for the new location(s). Other considerations include thinking about the use of any commercial vehicles that may be driven by employees from more than one business location.

It is an exciting time when a business wants to open a new location. Contact your agent at Colling Insurance Services Inc. in Lakewood, CO to make sure you have adequate commercial insurance in place for your business expansion.

Protect Your Business with Business Insurance

When running a business in or around Lakewood, CO it is important to do what you can to protect the investment. While you put your best foot forward to help grow the company, there are always unforeseen issues that might spring up at any time. This is where proper business insurance is critical. With the team at Colling Insurance Services Inc. you’ll discover what insurance options are available and what you should do to improve the security of you and your employee’s livelihood. 

Property Business Insurance

There is a host of business insurance options you need to consider. Property business insurance isn’t just if you own the building. It also goes into protecting valuable equipment and resources you use during a production process. So whether you use a meat slicer for sandwiches or plastic injection molding hardware for container manufacturing, this is an important form of insurance protection to consider. 

Business Insurance Add-Ons

Depending on where your building is located you may want to consider flood insurance. Other insurance add-ons can include protecting your windows. A broken window is expensive to repair, so having protection for this is desirable. You may also want to consider an umbrella business insurance. This way, if someone attempts to sue your place of business you will have financial protection in this case. No matter what kind of business you have, having the right insurance coverage is critical for your company’s wellbeing. 

At Colling Insurance Services Inc. it doesn’t matter what kind of business you have. If you’re in need of business insurance the team of insurance agents will sit down with you and go over your options. This way, whether the company is based out of Lakewood, CO or a surrounding community, you’ll discover just how insurance can protect your company. 

Reasons Why You Might Need Commercial Insurance and Not Know It

The experts at Colling Insurance Services Inc. in Lakewood, CO can answer any of your questions about commercial insurance.

If you have a home office, your home insurance is adequate coverage, right? Not necessarily. If you regularly sell at public events, like art fairs, farmer’s markets, or at flea market do you need commercial insurance? Probably. Here are the reasons why having commercial insurance is important.

Innovative Business Models

Entrepreneurial efforts, especially by the age group of millennials are creating a massive expansion in business efforts that are not tied to a specific location. They may work from home-based offices or from shared workspaces.

Just because the work is done in a virtual way, does not necessarily mean that there is no need for commercial insurance.

Let’s take the example of a small manufacturer that sells products on the Internet and display items at the local flea market or farmer’s market to sell them directly to consumers. The order fulfillment for Internet orders is done in the garage of the home of the business owner and one part-time worker is hired to help out. Having a single worker who is not an owner of the company and is paid wages, triggers the need to have worker’s compensation insurance.

The home-based business could also benefit from having product liability insurance and commercial property insurance to cover the equipment and supplies used in the garage for packing and shipping, plus any inventory stored on the property.

Most home insurance policies have exclusions for business uses of the property, so without commercial insurance, if the house burns down and the entire valuable inventory is lost, the insurance would probably cover the home and the personal property, but not cover the cost of the inventory used for commercial purposes. Every policy is different, so check with your insurance agent to understand the specifics.

Any type of commercial operation, even a very small home-based business can benefit from having commercial insurance. Contact the helpful agents at Colling Insurance Services Inc. in Lakewood, CO, to learn more about commercial insurance for your small business.

Does My Small Business Require Commercial Insurance?

“I have a small business, basically I work from home, make just enough to pay the bills and have a little left over. Do I need a commercial insurance policy?”

“I have a property that I own. I have five employees including myself and a small cargo van we use for deliveries. Do I need to purchase commercial insurance to protect my business and my personal wealth?”

In either of the above scenarios if you were to ask one of the talented insurance agents at Colling Insurance Services Inc. the answer will be a resounding “Yes!”

You can never be too careful in protecting your assets and your financial stability.  As a small business owner you are liable for your employees welfare while on the property and when travelling for the purposes of the benefit of the company. With all that liability you would do well to be covered in the event of an unfortunate incident.

Colling Insurance Services Inc. has expertise in the area of commercial insurance and would be able to serve you and your commercial insurance needs. Commercial insurance encompasses different facets.

  • Business auto insurance which would cover your employees and your business vehicles in the event of an accident adequately.
  • Serving the state of Colorado, Colling Insurance Services Inc. will assess your companies need for Colorado Liability Insurance Plans which covers against damages that occur on your property or if medical bills need to be paid. It is that added extra insurance for the extenuating liability that may occur when you own a business and something goes wrong.
  • Property Insurance may also be conducive for your business protection needs. This insurance covers problematic issues that may arise concerning an employee, consumer or client while on your business property.

3 Risks Every Small Business Owner Needs to Know

Do you own a small business? While operating your own company can be immensely fulfilling, it does come with a few extra risks. Here are three risks every small business owner needs to know and ways insurance can help.

Risk #1: Property Damage

Just like with your home and personal auto, property damage can happen at any time. Protect your business against fire, theft, vandalism, and other unfortunate incidents by having appropriate insurance coverage. Most business policies include a layer of coverage for your office or storefront location, while a commercial vehicle policy can help insure company cars against damage.

Risk #2: Injuries to Workers and Customers

Another important risk for small businesses to consider is injury to either worker or customers.  Sometimes accidents happen where a visitor to your location slips, falls, or is otherwise involved in an accident. In certain cases, your employee may even be the one who is hurt.

These injury scenarios actually fall into two categories: worker’s compensation insurance and liability coverage. A worker’s compensation policy is often required by law and takes care of your staff’s medical bills and other associated costs if they are injured while on the job. Liability insurance covers claims where your customer is injured. Both are two key policies to have if you own a small business.

Risk #3: Other Liability Issues

Another risk to look out for when you own a small business is other liability issues. While a liability policy does cover customer injury, it also encompasses many other types of incidents. For some companies, this can be a simple accident where a client’s home is damaged while your crew is working nearby or a situation where someone claims a product you made caused them harm.

The exact extent of liability risk greatly depends on the industry you are in and the tasks your firm is engaged in. Thus, there are a wide range of different liability policies available to help you find the one that meets your needs the best.

So, how do you know which commercial insurance policies cover the risks of your small business? Speak with one of our dedicated team members as Colling Insurance Services, Inc. We will sit down and review the details with you to determine your exact needs.



What Form Should Your Lakewood, Colorado Insurance Take?

Those who live and work in the Lakewood, Colorado area have lots of choices. Belmar, Colorado Mills and other areas provide plenty of shopping options. Dining options are diverse, including Lakewood’s Casa Bonita, which was featured in an episode of South Park. As the fifth most populated city in the state, Lakewood has a lot to choose from.

If you have a business in Lakewood, you have choices as well. You have choices of suppliers, where and when to advertise, who to hire and what hours to keep. You also have the power to choose to shop locally. That is a choice we would encourage from not only consumers, but of business owners. When we shop locally we are supporting our schools, our local government services and our friends and neighbors. It’s just good business.

Another choice you have as a business is what type of commercial insurance you should carry. Two main forms of property insurance are Basic and Special Form. So what are the differences between Basic Form vs Special Form? Let’s take a quick look.

When you purchase Basic Form insurance your specific coverage is spelled out in the policy. It will state exactly what is covered. If it is not mentioned, it is not covered. Special Form assumes all perils to your property are covered unless they are specifically excluded. Because Special Form insurance is more encompassing, many businesses seem to prefer it.

If you have questions about your commercial insurance, we would be glad to help. Colling Insurance Services is a local, independent insurance agency. That gives us the ability to seek the best coverage and rates for our clients. We would like to count you among them.

Visit our website for a free, no obligation, comparative quote on your homeowners and auto insurance. If you would like us to quote your business insurance, please contact us. We look forward to serving your Lakewood area business.

Which Form of Insurance is Best for Your Colorado Business?

Colorado offers a wide variety of lifestyles. There are places you can live where summer activities abound, and there places that are winter sports havens. There are affordable areas and we also have some of the most prime real estate anywhere. You can choose city living or way out on your own. Knowing the difference before moving will make a big impact on your budget and lifestyle.

If you are a business owner in Colorado, knowing the difference between the forms of commercial insurance coverage can have a big impact on you as well.

In commercial property coverage, there are Basic Form and Special Form policies. Basic Form insurance specifically states the coverage that is included. If it is not listed in the policy, you are likely not covered for a peril. On the other hand, Special Form coverage takes a more inclusive approach. Special Form insurance covers your property against all perils unless they are specifically excluded. It is normal to see things like acts of war and terrorism excluded.

Knowing the difference between a captive and an independent agency can make an impact as well. Captive agents represent the products of a single company while independent agents can seek out quotes from multiple companies. The ability to get quotes from multiple companies can save you money.

Colling Insurance Services is an independent agency that offers personal and business insurance lines in Colorado. We offer auto and homeowners insurance comparative quotes online at our website.

Colling Insurance Services works to save our client’s money without sacrificing coverage. We can conduct a no obligation, no cost insurance review to verify your coverage. We can then go in search of a better rate. For business or personal insurance coverage, contact us.

Wheat Ridge CO: Does My Commercial Insurance Cover My Drivers?

Wheat Ridge is a small suburban city less than five miles from Denver, located in the 80033 zip code. Wheat Ridge may be small, but there is plenty to do from our 20 parks for the outdoor lovers to our shopping lovers with our numerous antique shops and our other local shops and stores.

If you own one of those quaint little shops or restaurants or thinking about opening your own, you will need commercial insurance and if you plan to have, your employees do errands for you. You will need a commercial auto policy because your commercial business insurance does not cover drivers.

Business Auto Coverage

  • Liability
  • Physical damage

Categories of Insureds

  • You, the person who’s name is on the policy.
  • Anyone who is driving a vehicle you own and that is covered by your auto insurance, that you give permission to drive the vehicle, called a permissive driver or user.

The insured (named insured being you, because your name is on the policy and you pay the insurance) has the most insurance coverage. This includes the vehicles you have chosen to insure including:

  • All vehicles you own
  • Hired vehicles
  • Rented vehicles

You, the insured have more coverage even if you are not driving the auto, but are a passenger at the time of an accident. You are also protected from your employee suing you because of the accident, even if it was or was not caused by their negligence.

Employees Covered as Permissive Drivers

The majority of permissive drivers are employees driving company owned vehicles. These employees are covered while driving vehicles you own, borrow, or hire. If you rent a car and you’re, name is the only one on the lease and an employee drives that car they are not covered. When renting vehicles you must list everyone who will be or may drive the vehicle while it is in your possession.

If you have any questions about who is covered and who is not in different situations asks your insurance agents at Colling Insurance Services while you are getting your commercial insurance quotes.

Colorado: What Type of Business Insurance Do Ski Resorts Have?

If you live in Colorado, or visit often, then the chances are you love to ski. Colorado has some of the best ski resorts in the US. Unfortunately, accidents do happen and the ski resorts are prepared.

The general rule while skiing – is ski at your own risk. Ski resorts would go out of business if everyone who fell on the slopes and broke a bone, sued them. And, there is no such thing as a tree jumping out in front of you.

Ski Resort Insurance

  • Premises
  • Lift
  • Skiing

Primary General Liability

Primary general liability covers claims of property damage, injury (not caused by your doing), and negligence related to the ski resorts activities.

The insurance provides a wide-ranging, flexible type of coverage for all normal operations of US ski resorts including:

  • Ski schools
  • Ski shops
  • Ski rentals shops
  • Lodging
  • Food and beverage
  • Resort daycare centers

* The policy also includes coverage for daycare and ski school related incidents such as abuse (verbal, physical, mental, and emotional.) As well as unwanted physical advances and attacks.

Additional Ski Resort Coverages

  • Commercial Automobile Insurance – Shuttle buses, cars and trucks used by employees, and rescue vehicles
  • Employers Liability – If an employee is injured they will receive workers compensation, employer liability protects the ski resort from any liability.
  • Liquor Liability Coverage – If the lodge or restaurant serves alcohol, most states require liquor liability insurance. If you live in a state that does not require this type of coverage, you may want to seriously consider adding it to your commercial policy. It provides protection for you, if a patron drinks too much and gets hurt or hurts someone else.
  • Property and Crime – If type of insurance provides coverage if your property (ski’s for example are stolen.)
  • Electronic Data Processing – Covers the ski resort in the event of a computer systems failure – where credit card information could be stolen from a hacker and even if reservations are lost and overbooking results. The resort can comp rooms/cabins and file a claim and be reimbursed for lost income.

Owning a ski resort requires all types of insurance coverage. It’s easy to find the best coverage for your ski resort business by contacting commercial insuranceagents and requesting insurance quotes from Colling Insurance Services.