Colorado drivers who are under 25 may find that they will have to pay a higher premium on their auto policies than older drivers. It may not seem very fair that you are penalized in the form of higher insurance rates because you are a young driver. If you are 22 and have never been in an accident or had a speeding ticket, why should you pay more than a driver who is 35 or 45?

This is not a case of discrimination. Age plays a factor in many of the things we buy. Parents pay full price while their young children are charged less to go into the movies. Kids eat for less in many restaurants. If you are a senior citizen, you get discounts just for reaching a certain age. Young drivers may be charged more for car insurance because they fall into a higher risk group because of their age.

Age is just one factor that helps determine the amount of your premium. It makes sense that someone who has five accidents on their record, no matter their age, may be classified as a high-risk driver. It does not seem so obvious that you should automatically pay more just because you happen to be young.

Age is a factor because it is an indicator of maturity. It has been shown in numerous studies that younger people, as a group, drive more aggressively and engage in riskier driving habits than older, more mature, drivers. Only time can give you the experience you need to be a better driver. Distracted driving and using poor judgment are probably the two issues that cause most accidents.

As a young driver, you probably do not have too much experience behind the wheel. If you drive safely, avoid accidents, and don’t get any tickets, you will build a good driving record. While you may have to pay a higher premium for a year or two, that will change when you move into the next age group.

Commercial insurance is designed to address a variety of concerns in Lakewood, Colorado, but it does not always offer the coverage that you expect. When your office building is damaged in a fire, you may be covered for the cost of basic repairs or rebuilding in your policy. Unfortunately, changes to the building code requirements by a local ordinance may not be covered under your policy because they did not exist at the time that you obtained your current plan.

Your Responsibility

A key reason that you may be required to upgrade the standards of your building beyond your policy is your personal responsibility as the business owner. You are required to put in the work to keep your building up to code and the legal standards.

Since the upgrade is a normal part of maintaining your property, it may not be covered by your policy.

Details of your Policy

Although a damaged building may be covered by your commercial policy, you may not be covered for every aspect of the repairs. Read your policy to determine how much coverage is available and what is covered. In some cases, you may have some protection in case legal changes occur that require an upgrade to the building. In other situations, your insurer may exclude any upgrades that are required by new laws when a fire occurs.

A variety of factors can contribute to your ability to make a claim on your policy. Depending on the coverage that you purchase, you may or may not be covered for upgrades to your office building. Contact us to speak to an independent agent to learn more about commercial insurance policies.

Finding the right commercial insurance policy in Lakewood, Colorado is an important part of protecting your company. Before you purchase any policy, it is important to look for a few key items. Additional protection may also be necessary if you have other concerns related to the industry or company.

Liability

Always look at the liability options that are available before you make a purchase. Liability protection will address concerns associated with injuries to your clients, passersby or other individuals who may visit your office for any reason.

Liability will also protect your company if a customer purchases a defective product and is injured or if you are forced to recall products due to defects. It is a method of reducing your losses when your company is responsible for any injuries to the public or a specific individual.

Protection for Assets

If your company owns property, then you want an insurance policy that protects your assets from financial losses. The losses that may impact your company assets include theft, vandalism or property damage from storms, fires or other accidents.

A commercial policy can protect your business from financial losses associated with property damage or theft. It gives you the funds to repair or replace the property, depending on the situation and the amount of coverage that you purchase. In general, you will want enough protection for your property to replace the item or rebuild the entire property if it is severely damaged.

Every business owner needs to consider the possibility of losing property or facing a court case after an individual is injured on company property. Depending on the situation, the exact details of a policy may vary. Contact us to talk to an independent agent to determine the options that may be appropriate for your goals and needs.

Mold is a naturally occurring organism that can pollute the environment and cause illness. Lately mold has received heightened attention for its potential toxicity and can pose a serious liability problem for landlords and property owners. For this reason, it is important to understand where your home insurance policy stands when you are seeking commercial coverage for your Lakewood, Colorado apartment.

The Dangers of Mold

While there are over 100,000 different types of mold, only a handful are dangerous to humans. However, even non-toxic mold can cause health problems because humans vary in their response to mold. Those who have been exposed to toxic mold may experience a wide range of medical conditions, including skin problems, fatigue, and respiratory ailments.

Is Mold Covered By Commercial Insurance?

Typically, the answer is no. Because mold flourishes in moisture, burst pipes and unkempt bathrooms serve as conduits for mold spores. Usually, the tenant can prevent mold by diligently cleaning areas that are prone to moisture or by taking care of leaking pipes immediately. Thus, mold is considered to be a maintenance issue and is excluded from coverage by most insurance companies.

How an Independent Agent Can Help

Though mold is treated as a maintenance issue, mold can often spread through construction practices that introduce moisture to the foundation or building materials. Occasionally, coverage may be provided for structural damage where you can verify that the mold was not caused by negligence on behalf of the tenant or the property owner.

An independent agent can help you determine whether your home insurance policy will provide coverage for mold and what your options are if you find toxic mold on your property. Contact us today to tackle this important issue and find the best home insurance policies for covering mold damage on your property.

An insurance policy for any company large or small are not about having a BOP, but are about being a responsible company owner. A company owner should never believe it is alright to operate without business insurance, no matter what size their company is.

Whether there are no employees or just a few employees, the company needs insurance protection. We are an independent agent in Lakewood, Colorado, and can help develop a plan that is right for your company and will adapt a policy to your budget.

The benefits of having a company insurance policy will help to protect your financial investment against a number of issues. Insurance will have a bearing on employees. If there is a lawsuit or liability stemming from your products or services, it will protect the company. There will be no possibilities of closing up your company due to a lawsuit.

Being able to provide an insurance package to your employees is a valuable asset, as this will attract good workers dedicated to the company. Health coverage says a lot to the employee. Health insurance will provide your company a tax credit of up to 35 percent of the cost of the premium.

Business owners must adhere to federal regulations regarding hiring practices, discrimination and sexual harassment. There are employees who would take advantage of these regulations and seek a lawsuit. A company’s insurance policy covers legal costs.

If your company has a mortgage, the financial institution may require a certain amount of insurance. If an owner does not meet these requirements, then the company can get certain fines and restrictions. Licenses are at risk for cancelation.

Call our independent agency in Lakewood, Colorado today to set up any number of insurance options, such as commercial, property, health, liability, fleet, and many other coverage are available for small business owners.

To ensure that each Lakewood, Colorado, business has the insurance coverage it needs in case damage or destruction occurs, it may be necessary for the business owners to purchase a type of commercial property policy. A commercial property policy can cover the losses that may occur to company property when naturally destructive events occur as well as protect business owners in the cases of vandalism or theft.

When purchasing commercial coverage in Lakewood, Colorado, business owners should evaluate their needs in order to select the appropriate commercial property coverage type and amount. An all-risk policy will cover damage caused by a variety of events other than incidents that are noted as exceptions by the policy. This is the most commonly purchased type of commercial coverage. A peril-specific policy will cover losses from only specified events, such as fire or flood. An independent insurance agent can help Lakewood business owners determine if their properties are at risk for a particular peril and recommend peril insurance coverage if appropriate.

Business owners should be aware that different levels of risk are associated with different areas even within the city of Lakewood, Colorado. Insurance providers assess each area’s risk in order to determine which insurance coverage to offer at what cost. This means businesses in different neighborhoods may pay different rates for the same coverage. If a business is located in a high crime area or an area at risk of natural disasters, it will carry a higher risk and command higher insurance rates. Consulting with an independent insurance agent who can inform business owners about the risks their potential business location before they buy it can help owners make good decisions about purchasing property. Once they own a property, an insurance agent can still help them by recommending suitable coverage as well as suggesting ways for the owners to reduce their risks and save money.