Tag Archives: Lakewood CO

Protect your business from inventory loss

The value of your inventory probably makes up a sizable amount of your company’s overall assets. It’s important to have adequate coverage in the event of a covered loss. The team at Colling Insurance Services Inc. understand how important protecting this aspect of your Lakewood, CO area business is, and we are here to help. With the right commercial insurance policy, you can rest assured that you have the coverage you need to meet your inventory loss needs. Don’t be caught with an inadequate policy level because you miscalculated your inventory coverage needs.

Make sure you have sufficient coverage for inventory loss

Commercial policies need to do a lot of work, they’re there to protect your plant and equipment, injuries sustained by employees or customers, commercial vehicles, property, and the list goes on. With all of the assets that businesses need to protect it is not surprising when some are overlooked. Inventory can often fall by the wayside when firms are calculating exactly how much comprehensive commercial coverage they need. There are also times when inventory is valued in the moment rather than looked at on an annual basis. If you determine your coverage when inventory is at a seasonal low, you may be underinsured if an incident occurs when your inventory levels are at their highest. Make sure that you protect your inventory, no matter the time of year, with a comprehensive policy that is calculated properly. Your local agent can take the time to review all of your needs.

Is it time to review your current commercial insurance policy and make sure that you have the coverage you need? Call or stop by Colling Insurance Services Inc. today and let us help you protect your Lakewood, CO area business from inventory loss. 

Is Workers Comp Required For Self-Employed or Independent Contractors?

Lakewood, CO, like many cities, towns, and states across America is seeing a surge in the numbers of companies working with independent contractors, as well as a surge in the number of people running a small business, being self-employed, and working as an independent contractor due to the shift toward the gig economy. Whether you are a small or large company, an Uber driver or a carpenter, it can be confusing trying to figure out where you understand without talking with your Colling Insurance Services, Inc. Agent. Here’s some information to give you the basics. 

Is Workers Compensation Required For Self-Employed or Independent Contractors? 

The State of Colorado requires all employers to carry workers’ compensation insurance, with very few exceptions.  You are required to carry workers comp if you: 

  • Employ any workers in Colorado, even part-time. 
  • Hire workers, even if you don’t consider them employees.  

There are common law guidelines to help you distinguish employees from independent contractors, but Colorado has a strict workers compensation system and is firm about independent contractors and subcontractors being considered employees unless they don’t qualify under specific exceptions in Colorado state law. 

Here are the few exceptions:  

Corporate officers and members of an LLC – If you own at least 10% of the company you can opt-out of coverage if the rejection is done in writing, otherwise, Colorado includes you in coverage.

Sole proprietors and partners — You have the option to include yourself but are excluded from required coverage. 

Maintenance and domestic workers: Some maintenance and domestic workers may not need to be covered by the law if they only perform work on a part-time, limited basis for a homeowner. 

Do Self-Employed and Independent Contractors Need To Buy Their Own Workers Comp? 

While workers’ compensation insurance is not required in Lakewood, CO, it is a good idea for self-employed and independent contractors to provide coverage for themselves, as the chance of injury still exists for entrepreneurs.  

Whether you are an SMB or a large corporation, an independent contractor or self-employed, if you have questions about your worker’s comp needs, give the insurance experts at Colling Insurance Services, Inc. a call or come by our office for answers today. 

What to Do When You are Involved in an Out-of-State RV Accident

The area around Lakewood, CO is excellent for exploring in your RV. When you’re ready to take your friends and family on an out-of-state trip, however, preparation is the best way to ensure you can make it home safely. Keep these tips from Colling Insurance Services Inc. Handy in case you find yourself in an RV accident when you aren’t at home.

Keep Your Insurance Information Close

The tendency for many RV enthusiasts is to lock all of their important documents away. This reduces the chance of losing your papers in a theft. However, it’s important to keep your insurance card in an easy to reach the place. That way, you’ll be able to produce your documents on demand.

Buy Disposable Cameras

In an accident, pictures are often the only way to prove your claim. Your cellphone is a great tool for taking pictures after an accident. However, you don’t want to risk having a full memory card or low battery when you need it most. Keep a couple of disposable cameras in your RV to ensure you can get all the visual evidence you need.

Contact Local Authorities

Each municipality has different rules for auto accidents. Some require law enforcement involvement for all moving vehicle accidents. Call the non-emergency number for the city or county in which your accident occurs right away. This gives them a chance to add their official documentation to your claim.

Contact Your Colorado Medical Team

If anyone in your party needs medical attention, seek help right away. When it is convenient, make sure to give your regular doctor a call. They may have insights that help your out-of-town team deliver the best possible care.

Colling Insurance Services Inc. carries RV policies for residents in the Centennial, CO area. Contact us for more tips to help you navigate an out-of-town RV accident.

What Is Covered In A Toy Insurance Policy?

When you live in Lakewood, CO, you may have all sorts of toys to play with. from snowmobiles in the winter to pontoon boats in the summer, the list of toys that you may have can go on and on.

At Colling Insurance Services, Inc., we’re committed to showing you how to protect everything that you love.

What toys are covered?

The toys that adults have can be expensive. Whether you go off-roading, spend time out on the water, or enjoy driving around town in an antique car, these can all be categorized as toys. Since these cost considerably more than the toys that your kids have, you want to protect them in any way possible. After all, if they get wrecked or stolen, you don’t want to have to pay full price in order to replace them. 

This is when it can be advantageous to look into toy insurance.

What are the coverage options?

There are plenty of ways that you can cover all of the toys that you have. Each time you add a toy to your collection, you can update your insurance policy to encompass them. Various riders can be added so that you have the ability to file a claim if they get damaged, stolen, or even vandalized.

By working with an independent insurance agent, you can learn about the different ways to cover your toys so that you can enjoy greater peace of mind throughout the year. Your home insurance policy may not cover some of the more expensive toys that you have, even though they are parked on your premises. As such, finding out about toy insurance can be the financial protection that you need.

Contact us at Colling Insurance Services, Inc. today to learn more about getting a toy insurance policy to protect all of your toys in Lakewood, CO. 

Choosing Boat Insurance In Lakewood, CO

Owning a boat can really be fun, but you also want to make sure you take care of it properly. Maintenance is going to be needed and insuring it should also be a consideration. When you have proper insurance on your boat, you have the peace of mind you need to have fun on the water. Colling Insurance Services Inc. serves the Lakewood, CO area, and can help you get the coverage you need to protect your boat. Here is what you need to know about choosing boat insurance.

Know the Coverage Limits You Need to Have

State requirements for minimum insurance limits vary. When you plan to buy your boat insurance, make sure you are meeting at least minimum requirements. Then you can decide if you want to have coverage beyond that, or if the minimum coverage requirements will be enough for you. Both options are acceptable, and it comes down to what really matters to you the most.

Work With an Agent You Trust to Help You

By working with a trusted agent in the Lakewood, CO area, you can get the help and guidance you need in order to purchase the right boat insurance policy. There are different companies that offer this insurance, and having the protection you feel good about and that covers your boat adequately is the main goal. Some companies may provide higher levels of coverage than others.

Consider Additional Protection Options

When you reach out to Colling Insurance Services Inc. you get the opportunity to ask your agent whether there are additional coverage options that might work for you. Choosing the minimum coverage may not make you feel comfortable or give you peace of mind. Because of that, you may want to increase your coverage beyond minimum requirements. Reach out to us today, and see what we can offer you.

What Policy Types Can I Add Umbrella Insurance To?

What Policy Types Can I Add Umbrella Insurance To?

At Colling Insurance Services Inc. of Lakewood, CO, we want you to have the coverage you need to protect your assets. Umbrella insurance does this. This blog explains adding umbrella insurance to a homeowners’ insurance policy, a commercial policy and an auto or recreational vehicle policy.

An umbrella policy is a secondary insurance policy that you add to an existing policy. You can add an umbrella policy to a homeowners’ insurance policy, a commercial policy, a recreational vehicle policy, and an auto policy.

It provides excess liability insurance. Most policies only cover a small percentage of the total policy value as to liability insurance. Umbrella insurance provides the coverage you need to pay liability claims. For example, if your neighbor broke their leg at your July 4th barbeque, your homeowners’ insurance liability covers their medical bills. If they experience complications though and must remain hospitalized, you would likely exceed your liability coverage quickly. An umbrella policy kicks in when that liability coverage gets exceeded.

Do not have to purchase an umbrella policy. It’s optional but helpful. It only covers liability – the times when you were at fault and held legally responsible for another party’s damages. It pays for their medical bills, funeral costs, property damage, and other related expenses. It also covers defamation, slander and your attorney fees.

The policy coverage usually starts at about $1 million. The cost for that in premiums is quite small though.

You already have to carry insurance that meets a specific coverage limit before you can add an umbrella policy. It won’t cover your own injuries or your personal property. You also will not be covered for criminal or intentional acts. It does not extend to vehicles not specifically covered by the main and the umbrella policy.

Call or visit Colling Insurance Services, Inc. of Lakewood, CO to learn more about your umbrella options. Protect your assets today.

Which type of life insurance is right for me?

Selecting the right type of life insurance can be daunting particularly if you are not sure how they work especially with so many insurance companies in Lakewood, CO full of varying information that may sound confusing. However, a certified insurance company like Colling Insurance Services Inc. have experts who can guide you on choosing the most suitable type of life insurance. Here are some guidelines that can help you narrow down your options.

Term insurance

This option is best suitable for individuals looking to purchase life insurance for a specific period.  Term insurance helps you to match the length of your need to the length of the term policy. If you have children who just started school, and you want to ensure there will be enough money for their university education, then you might consider purchasing a 20-year term life insurance. Term insurance is also for those who have limited finances and are looking for a large amount of life insurance. In other words, term insurance pays you in case you die in the period of the policy.

Permanent life insurance

This insurance covers you for the duration you are alive. A permanent life insurance policy pays death benefit irrespective of whether you die tomorrow or live beyond 100 years. You can borrow this money even when your credit is poor. The death benefit is typically collateral for the loan, and in case you pass on before it has been fully settled, the company will collect what is due for them before determining what will go to the beneficiaries.

For quotes or policy discussion visit colling Insurance Services Inc. in Lakewood, CO today and our insurance agents will be glad to assist you.

What Should I Consider About Long-Term Care Insurance?

The Graying of America is a book written by Donald H Kausler that was originally published in 1996 and has been updated since. It describes the trend of Americans, on average, getting older and the resulting needs and economic changes that arise from this trend.

Baby boomers are the generation that was born after the end of WWII from 1946 to 1964. They are all now in retirement age or nearing it. Improvements in life expectancy in America now make the potential need for long-term care increase for so many of these older Americans.

Preparing for the Need for Long-Term Care

Long-term care is expensive. Government reports say that the average monthly cost for a semi-private room in a nursing home in 2016 were $6,844 and a private room was $7,698. This means that there may be a need for over $82,000 to $92,000 per year to pay for this care for an older adult.

Morning Star reports that for those who are 65 years or older there will be two times that they can expect to need long-term care. One is caused by illness or injury. The other is at the end of life. For each of these times, the average duration for a stay in a long-term care facility for a male is 0.88 of a year and 1.44 years for a female.

This means that, on average, the financial need may be up to $144,000 to $162,000 for a male and $236,000 to $265,000 for a female. This is only the average. Some may experience a much greater need.

Things to Consider

The main consideration is to make sure that long-term care insurance is adequate to cover the cost of long-term care that cannot be paid with other assets. Not only does it have to be a sufficient amount, but it also has to last for a long enough time. Also, a factor of the inflation rate needs to be applied because the cost of long-term care continues to go up.

Work with your agent at Colling Insurance Services, Inc. serving Lakewood, CO, and the surrounding area to understand your options for long-term care insurance. To make an appointment to discuss this, contact your agent at Colling Insurance Services, Inc. in Lakewood, CO by calling 303-987-3331.

Things to Consider When Buying Health Insurance

Now that you have decided that life insurance is something that you need for your family, you need to ensure that you get the right amount in coverage. When you are purchasing life insurance in Lakewood, CO, you do not want to risk getting too much or too little because that could cause issues for your either way. Make sure to use these tips from Colling Insurance services Inc. to find the perfect amount for your needs. 

  • Do you have children or a spouse that relies on your income? If you answered yes to either of those, then you need to make sure you leave enough for them to be taken care of. The exact amount can vary and depends on ages as well as if you have children and a spouse, just one, and how many. It is something to take into consideration.
  • Do you have debts? There are some debts that will continue to stick around even after you are gone. You should make sure you have enough in coverage to pay for these debts so your family does not have to bear this burden when you are gone. They will have enough that they are trying to deal with as it is. 
  • Do you have money set aside for a funeral? A funeral can be very costly these days and if you have not yet made plans to pay for a funeral, you need to do so with your life insurance policy. 

These are some great guidelines to get you started but we are also here to help answer any questions you may have along the way. Be sure to reach out to us here at Colling Insurance Services Inc. serving Lakewood, CO, to help you through the process and to get you a free quote when you are ready.

Why You Need Dental Insurance

Many people are quick to sign up for something like health insurance but when it comes to dental insurance, they will think twice before they get it. However, dental insurance is just as important to have as medical insurance. There are many reasons to get dental insurance from Colling Insurance Services Inc. serving Lakewood, CO. Continue reading to learn about just a few of those. 

  • Dental services can be very costly. If you were to pay for your dental services out of pocket, you would need to pay a lot of money. Taking care of your teeth is not cheap to do but dental insurance can help to take away a lot of that burden for you. 
  • Dental care is critical. There are a lot of different health issues that can be linked to your mouth and your dental care. You can also detect some issues early with proper dental care. While you may think it is just a tactic to get you to go to the dentist, it is really important to go because if how critical it can be to your health. Not only that, but maintaining a beautiful smile can give you a ton of confidence. 
  • You want to have insurance in case of a dental emergency. Dental emergencies do happen and when they do, you want to be able to rely on your dental insurance to help take care of it for you. 

If you are ready to get your dental insurance set up, be sure to reach out to us here at Colling Insurance Services Inc. serving Lakewood, CO. We will help you find the right options based on what you need and your budget and we will even provide you with a free quote. Be sure to reach out to us today.