Long Term Care Insurance: What Is It, What Can It Do For You

Health insurance will cover you should you need a hospital stay, but what about old age? Even if you avoid a tragic accident, everyone eventually gets old and may need elderly care. Long-Term Care Insurance will take care of costs should you need to enter a facility or require a live-in nurse. This will become necessary should someone over age 65 be unable to perform one of the six activities of daily life. This includes eating, dressing, bathing, transferring, toileting, or continence. A care provider may also perform instrumental activities such as cooking, housekeeping, medication management, etc. Long-term care insurance pays for what health insurance won’t.

What Long-Term Care Covers 

If you are no longer able to do a number of the activities of daily life on your own or become cognitively impaired, you become eligible for the benefits of long-term care. Your age at the time of purchase may affect the cost. Women may have to pay more because, on average, they live longer than men. A pre-existing health condition may not prevent you from getting a policy. However, the policy might not cover any care germane to that specific condition for quite some time after it goes into effect. 

Why You Should Get It

There are two main reasons for getting long-term care insurance. The first is to protect your savings. The other is to give you more options for your care. Long-term care can run quite expensive. Long-term care insurance may help you find a better quality of care than health insurance alone can. 

Contact Colling Insurance Services Inc. For Long-Term Care

If you are in the Lakewood, CO area and looking into long-term care, consider Colling Insurance Services Inc. We’re here to help you. 

Four challenges you may face when you buy health insurance

American consumers can, unfortunately, face specific challenges when it comes to health insurance. Suppose you’re a consumer in Lakewood, CO. In that case, we can provide you with the health insurance information you need at Colling Insurance Services Inc. We’ll answer your questions and help you overcome any health insurance challenges you face.

The following are four challenges you may face when you buy health insurance. 

Missing enrollment periods

For most health insurance policies, you have a limited period in which to enroll. This is especially true if you want to enroll in a plan that includes a subsidy you get through the Affordable Care Act.

That’s why you need to be aware of enrollment periods and purchase a policy before any applicable enrollment period has ended. 

Understanding the health insurance policy that you choose

Health insurance can be a complicated financial product. Consumers must review the details and read all the fine print before purchasing a policy.

Ensure you understand issues like deductibles, coverage maximums, copays, and coinsurance entirely when shopping for health insurance. If you have any questions, ask a representative from the health insurance provider you want to buy a policy from. 

Being aware of all the resources available to you

Some consumers don’t realize they have health insurance options available to them through their employer or state or local government. 

Look into options provided by your employer, your state health exchange, and any memberships you have in professional organizations before you buy a policy. 

Not knowing what the future holds

Unfortunately, knowing what the future holds regarding your health is impossible. That’s why it’s always best to invest in high-quality coverage even if you’re healthy and don’t think you’ll need medical care in the near future. 

At Colling Insurance Services Inc., we’re here to help consumers in Lakewood, CO find the right health insurance options. Call us today to get a policy quote. 

The Smile Saver: Exploring the Benefits of Dental Insurance

Dental insurance often plays second fiddle to its more prominent counterparts: health and life insurance. However, the importance of maintaining good oral health should not be underestimated. Colling Insurance Services Inc offers a range of dental insurance options to suit diverse needs and budgets. Our team of experts is dedicated to guiding our Lakewood, CO neighbors through the process of finding the most suitable plan, considering your specific circumstances and goals. 

Let’s dive into the realm of dental insurance, taking a closer look at the crucial advantages that come with it. The primary benefit is the coverage of dental service costs, from regular check-ups and cleanings to more extensive procedures like fillings, crowns, or even oral surgeries. Dental insurance encourages a preventative approach to oral health, potentially saving you from costly procedures in the future.

Also noteworthy is the peace of mind that dental insurance brings. With a comprehensive plan, you’re covered in case of dental emergencies. It’s hard to put a price on avoiding the stress of unexpected financial burdens on top of health concerns. Many comprehensive dental insurance plans cover orthodontics, oral surgeries, bridges, and dentures. Even if these are not needed now, it’s good to know that you’ll be covered in the future if the need arises.

Dental insurance is an investment in your long-term health and well-being. If you’re ready to learn more about the benefits of dental insurance and what Colling Insurance Services Inc. can offer, don’t hesitate to contact us. Our team is prepared and eager to help you make informed decisions about your dental health. Contact us today for more information and details about dental insurance in Lakewood, CO.

Four Types of Commercial Insurance Coverage

If you own a business, you need commercial insurance. However, knowing which policies are right for you can be daunting. We offer commercial insurance policies at Colling Insurance Services in Lakewood, CO. 

1. General Liability Coverage

General Liability insurance protects you from liability claims. General liability covers the costs if your product or service injures someone or damages their property. 

You are also covered for false advertising, copyright infringement, and slander. Most policies also cover your legal expenses if you are sued. 

2. Commercial Property Insurance

Commercial property insurance is similar to a homeowner’s policy. It covers the structure of your building and its contents.

Even if you lease your space, this type of policy is essential. You probably have expensive equipment or inventory. Commercial property insurance covers these items as well. If your manufacturing center, storefront, warehouse, or office is damaged, you’ll have the money to repair or replace the property. 

3. Business Interruption Insurance

It would be best to have business interruption insurance, particularly for small- to medium-sized businesses. If you are unable to open your business for days or weeks, this will seriously affect your bottom line. 

Business interruption insurance is designed to cover the losses of being unable to open your business due to covered situations, including fire or plumbing issues. 

4. Worker’s Compensation Insurance

If you have one or more employees, you are required to have worker’s compensation insurance. If an employee is injured on the job, this policy will cover their medical expenses and lost wages while they recover. 

Commercial Insurance at Colling Insurance Services Inc. 

If you need commercial insurance in Lakewood, CO, contact us at Colling Insurance Services Inc. Our agents help you select the best policies for your business so you are fully protected.

Do I Need Worker’s Compensation Insurance? Understanding the Legalese

One part of owning and operating a Lakewood, CO business is ensuring the company follows local commercial laws. One such law ensures you are adequately insured with worker’s compensation policies. Worker’s compensation policies are designed to offer employees lost wages and medical reimbursement in case of an accident or illness caused while working. They thus likewise provide employers with work-related injury legal fees and protection from high medical costs. In short, worker’s compensation policies do work to protect everyone, which is a large part of why they are generally mandated by law.

Do I Need Worker’s Compensation Insurance: A Look at the Exemptions

We say "generally" because while most Lakewood, CO businesses will need this type of insurance, there are some exemptions. Our Colling Insurance Services, Inc. team is always here to cut through the noise and get our clients the answers they want about insurance policies. So, if you’re asking whether your business needs to have this type of insurance, our answer is yes, unless:

  • You employ casual repair or maintenance workers who earn under $2,000 annually. 
  • You employ real estate agents or brokers who are paid by commission.
  • You hire independent contractors and not your employees.
  • You hire drivers who work with a contract carrier.
  • You are a sole proprietor with no employees (you may but are not required to carry worker’s compensation for yourself).
  • You have an LLC, and your corporate officers or members choose to exclude themselves (again, you may carry worker’s compensation on their and your behalf but are not required to do so by law).

Learn More With Colling Insurance Services, Inc.

Have more questions about commercial insurance policies? Give our team at Colling Insurance Services, Inc. a call today and let us answer your questions and get your Lakewood, CO outfitted with the right insurance coverage for your needs and budget. 

The Ultimate Guide to Understanding Auto Insurance Coverage

Understanding auto insurance coverage isn’t always easy. But if you’re in the Lakewood, CO area and looking at updating your policy or getting a new one, Colling Insurance Services, Inc. can help you find the proper protection for your vehicle. You want to make an informed decision about protecting your car, truck, or SUV, and that’s much easier to do when you have an agent to answer your questions.

Liability insurance is a requirement, so that’s the first coverage you want to look at. There are minimum amounts you’ll need to have, and many people choose to get coverage amounts that are higher than the minimums required. While you don’t have to do that, you may feel more secure and have additional peace of mind if you do.

Another type of coverage is comprehensive, which covers things like fire and theft. If your vehicle is financed, your lienholder will probably require that you have this. If you own your vehicle, you aren’t legally required to have comprehensive insurance coverage. Many people choose to include it because it adds valuable protection to their vehicle.

Additionally, you may want to consider collision insurance. Financed vehicles generally require it, but it’s also an excellent way to protect other vehicles. If you’re involved in a single-car accident or one where the other driver doesn’t have adequate insurance coverage, having a collision policy as part of your policy can help you get your vehicle repaired or replaced.

If you’re in the Lakewood, CO area, Colling Insurance Services, Inc. can answer your questions about the different kinds of auto insurance coverage, so you can find the right policy that meets your needs and protects your vehicle. Contact us today, and let our trusted agents help you with your insurance questions.

What Does Homeowners Insurance Not Cover?

A homeowner’s insurance policy provides coverage for a broad range of risks or perils that can potentially impact your home and its occupants. If you live in the greater Lakewood, CO, the insurance professionals at Colling Insurance Services Inc. are available to help you understand what a homeowner’s policy may cover and what it excludes.

Common Scenarios Typically Not Covered By Standard Homeowners Insurance

These events are typically excluded from a standard homeowners policy:

Flood damage

Most home policies exclude flooding – defined as excess water on land that is typically dry. According to the insurance industry, flooding is not the same as water-related damage (i.e., damage from a leaky roof). To protect against flood damage, homeowners can buy a separate flood insurance policy.

Maintenance-Related Issues

Homeowners insurance is not designed to provide coverage for your home’s routine maintenance or normal wear and tear. Damage from a lack of maintenance/pre-existing conditions will typically be excluded.

Sewer Backups

Damage caused by a sump pump failure/sewer backup may not be covered; however, a rider or endorsement is typically available. 

Intentional Acts

An intentional or illegal act that causes damage is typically not covered.

Earthquakes

A standard policy for homeowners doesn’t typically cover earthquake damage. A separate policy or endorsement may be available for those in an area prone to earthquakes.

Home-Based Business Liability

A home business may need an additional policy (a Business Owners Policy) to protect business-related liabilities.

Acts of War/Nuclear Hazards

Damage resulting from nuclear hazards, acts of war, or will typically be excluded.

Contact a Leading Insurance Company Today

To speak with an insurance professional at Colling Insurance Services Inc. in Lakewood, CO about available homeowners insurance coverage options, contact a staff member at 303-987-3331 or reach out online.

Boat Safety Tips and Insurance Implications for Lakewood, CO Boaters

If you’re a boater in Lakewood, CO, it’s essential to prioritize safety while out on the water. Not only can safe boating practices help prevent accidents, but they can also have an impact on your boat insurance rates. Colling Insurance Services Inc. can help you find the right insurance coverage to protect you and your boat while potentially saving you money. Here are some boat safety tips to keep in mind:

Boat Safety Tips

  • Always wear a life jacket, and make sure your passengers do as well.
  • Follow all boating laws and regulations, including speed limits and no-wake zones.
  • Be mindful of weather conditions and keep an eye on the forecast.
  • Keep a close watch on children and inexperienced boaters.
  • Never operate a boat while under the influence of drugs or alcohol.

Insurance Implications of Boat Safety

In addition to the obvious benefits of safe boating, practicing good boating habits can also help you save money on your insurance premiums. Insurance companies consider several factors when determining your rates, including your boating history, the age and condition of your boat, and your claims history. Demonstrating a commitment to safety can reduce your risk of accidents and claims, which may result in lower insurance premiums.

Working with Colling Insurance Services Inc.

We’re committed to helping Lakewood, CO boaters stay safe and protected on the water. Our knowledgeable agents can guide insurance options and help you find the right coverage to meet your specific needs. Contact us today to learn more about our boat insurance options and how we can help you save on premiums.

Does Umbrella Insurance Cover Property Damage?

At Colling Insurance Services Inc. in Lakewood, CO, we ensure that our umbrella insurance policies cover what homeowners care about most. That being said, every policy is different, just like every homeowner’s needs are different. Generally, you might wonder what umbrella insurance policies cover regarding property damage. As you keep reading the article below, you will find that we have an answer to that question.

What does umbrella insurance cover?

An umbrella insurance policy may cover a combination of liability, property damage, and other considerations for those with a home insurance policy. If you reach the limit of your existing policy, an umbrella insurance policy might be able to help pick up the rest of the bill for repairs or related costs if they happen under certain qualifying conditions.

The point of umbrella insurance is to serve as an “umbrella” that gives you an extra layer of protection for metaphorical rainy days. When difficult events like certain qualifying natural disasters hit your home, your umbrella insurance policy may be able to assist you with rebuilding by covering some of the property damage. Of course, this all depends on the policy’s terms and the limits set on both your home and umbrella insurance policies.

In the best-case scenario, your standard home insurance policy will cover the damage, and you will not need to rely on your umbrella insurance to cover some or all of the costs. In the worst-case scenario, most of our clients are thankful to have the foresight to purchase umbrella insurance before this kind of emergency strikes so close to home.

For specific details on our umbrella insurance policies, call our office at Colling Insurance Services Inc. in Lakewood, CO today!

Three misconceptions out there about long-term care insurance

Long-term care insurance is crucial if you want your finances and have confidence that you’ll get the healthcare you need down the road. At Colling Insurance Services Inc., we provide long-term care insurance in Lakewood, CO. 

Being accurately informed about long-term care insurance is important. Unfortunately, misconceptions about this type of coverage are common.

Consumers only very rarely end up needing long-term care insurance

Assuming that you’ll never need long-term care is a bad idea. Even if you are very healthy, you could experience an accident or an unexpected illness that leaves you in need of costly long-term care. 

My Medicare plan will cover long-term care.

Your Medicare plan may cover long-term care in certain situations. However, you cannot always rely on Medicare to cover long-term care costs. How much Medicare coverage you receive for long-term care costs depends on what type of injury/illness you experienced and what Medicare plan and supplements you have. 

Purchasing a separate long-term care insurance policy gives you more confidence that any long-term care costs you face will be covered. 

Only the elderly need long-term care insurance.

Long-term care is associated with the elderly. However, even young, healthy individuals can benefit from having long-term care insurance. Individuals at any age could experience a severe injury that leaves them handicapped and needing long-term care. 

If you want to learn more about long-term care insurance, we’re here for you. Consumers in Lakewood, CO can get a long-term care insurance policy quote from us at Colling Insurance Services Inc.