Most people understand how important a homeowner’s insurance is, but what about renters? You don’t own your house or the apartment you live in, why should you have insurance to protect it?

In this article, we are going to tell you why you should consider buying renter’s insurance and how much it’s going to cost you as a renter in the Denver, Colorado area.

Why You Should Buy Renter’s Insurance

When you’re looking at renter’s insurance (or any insurance plan for that matter), you need to look at the different categories of coverage. You want to ensure you’re getting the protection you need. 

Liability

Liability coverage is a huge part of any insurance plan. If someone were to get hurt while they were in your home or apartment, there is a chance you could get sued. You would have to pay legal fees and hospital bills. All of those can quickly add up to thousands and thousands of dollars.

This is where your liability protection when comes in. Instead of you have to pay out of pocket if someone trips and falls, your insurance plan will pay for it.

Personal Property

This is the portion of insurance most people think of when they think of when considering a renter’s insurance plan.

Even if you don’t own the roof over your head, you probably own everything under the roof. Let’s say there was a fire in your apartment. You wouldn’t have to pay to replace the building, but you would be responsible for having to replace all of your clothes, electronics, jewelry, furniture, and more.

Just think about how much it would cost for you to buy all of your belongings again. It would get very expensive.

A renter’s insurance policy will protect your belongings from any of the perils, like fire, theft, and more. The amount of personal property protection will depend on the plan and the carrier.

One important note about personal property protection is the exceptions. Some category of goods have limits on how much is protected. Depending on your plan, you might need to pay for additional coverage.

Living Expenses

Let’s go back to the situation we mentioned earlier, of your apartment suffering from a fire. Not only would all of your belongings be destroyed, but where would you live? You can’t live in a burnt up apartment.

You’re going to have to stay in a hotel or find somewhere else to stay, very quickly. Luckily, your renter’s insurance can help you get through this time.

The average renter’s insurance policy is going to help you pay for any additional living expenses you might run into. This could include the costs of staying in a hotel, increased travel costs, or even food costs.

How Much Does Renter’s Insurance Cost in Denver, CO.?

Now that you know WHY you should buy a renter’s insurance policy, let’s look at the costs. There are a lot of factors used to determine the cost of a renter’s insurance plan:

• Amount of coverage
• The carrier
• Additional coverages
• Location of the property
• Credit score

All of these factors are going to be put through the carrier’s algorithm. Because there are so many variables, we can’t pinpoint exactly how much you’ll pay without talking to you first. We can get you a rough estimate dark.

In 2018, the average annual cost for Renter’s insurance in Colorado was $222. Once again, because there are variables, you may not be able to get this price, but you could get a plan cheaper.

Even inside of Colorado, there are some cities which are much cheaper for renters than others. Living in Trinidad is cheaper than living in Boulder. Denver is the most expensive city for renter’s insurance, but we can still find you a plan you can afford.

If you want to know exactly how much your policy will cost, feel free to contact us.

We worked with the most popular carriers for renter’s insurance in Denver. We know the companies which sell the cheapest insurance plans.

Not only can we provide you with affordable plans, but we can also help you decide how much insurance protection you’ll need.

If you want to partner up with one of our expert agents, we have two ways you can get a hold of us. One way is to head over to our contact page.

The other is to call us at (720) 209-4598.

The post How much is Renter’s Insurance in Denver, CO.? appeared first on Longevity Insurance Brokers.

For some people, the RV is more than just a special trip. It’s the way they live. For a lot of retirees and adventure seekers, they have made their RV their full-time home.

If you’re a full-time RV resident, or you’re considering this option, there are some special insurance factors you should be aware of.

Full-Time RV Requirements

If you become a full-time RV’er, there are a lot of insurance coverage which is normally covered under your homeowner’s insurance plan. You need to get some additional protection which won’t be covered under a standard RV policy. 

A full-time RV insurance policy is going to be very similar to a homeowner’s insurance policy. Regardless of what you consider “home,” you need to make sure it’s covered.

Let’s look at some of the important parts of an RV insurance plan.

Personal Liability

Maybe you want to travel to see friends or family while you’re riding around in your RV. Maybe you’re meeting some new friends, who knows. But regardless of who will be coming in and out of your RV, you need liability coverage.

If someone were leaving your RV, and they tripped down the steps, they could seriously hurt themselves. This is why liability insurance is important.

If you’re held responsible for any injuries or damages, the other person can legally sue you. Your personal liability can offset those expenses. Depending on the carrier, you can get up to a million dollars in liability protection.

Medical Payment Coverage

As a part of liability, you’ll also need some coverage for medical bills. If your family member or friend hurt themselves while they were on your RV, or the property around your RV, you would be responsible for paying those hospital fees (depending on the situation).
Similarly, if you’re driving down the road, and you have a wreck, this coverage can pay for any medical fees because of the driving accident.

Depending on the plan and the insurance carrier, you can get $5,000 per person for medical bills. Some carriers offer more, but you want to ensure you have at least this much protection.

 Personal Belongings Protection

If you live in your RV, then just about everything you own (or just about) is on your RV. What if something awful were to happen? Theft or damages.

If you have the proper RV insurance policy in place, your plan should help you replace some of your things. Just like with a homeowner’s insurance plan, the amount of coverage you get can vary depending on the policy.

Replacement Protection

Whenever you’re on the road, you never know what’s going to happen. You can drive as carefully as possible, but anything could happen.

If something awful were to happen, and you ended up totaling your RV, you’re going to need a good insurance policy to replace your RV.

This is one of the most important parts of any RV insurance policy. This RV is more than just your vacation spot, it’s your home. If you were ever in a wreck, what would you do? You need to have the insurance plan in place to get another RV and get back on the road.

Getting Full Time RV Insurance

When you’re looking to go full time with your RV, there are a lot of factors you’ll need to consider. IT can be a frustrating transition.

Finding an insurance plan to give you the cover you want can be just as difficult. The vast majority of insurance companies don’t have a full-time RV plan. You could spend days calling different companies just to be told “no.”

If you’re in the Denver, Colorado area, and you want to gas up your RV and hit the road, give one of our agents at Longevity Brokers a call.

Unlike some insurance agents you’ve worked with in the past, we aren’t captured agents, meaning we aren’t tied to a single carrier. Instead, we have built partnerships with a variety of carriers, some big, some small.

What does this mean to you? It means we can do all of the shopping and comparing. Instead of you having to call a variety of different companies, we can do it for you.

We know which companies have the best plans for RV owners. Also, if you have questions about your RV protection, let us know. We have years of experience in the insurance industry.

Use our contact page or call us at (720) 209-4598.

The post RV Insurance for Full Timers appeared first on Longevity Insurance Brokers.

Hail storms can end up causing millions of dollars of damage to a community. The largest hailstone on records fell in July of 2010 in South Dakota. The stone weighed almost 2 pounds and was 8 inches in diameter.

Sure, not every hailstorm is going to have stones this big, but just imagine one of those hitting your house or your car. It would cause some serious damage.

Hailstorms and Colorado

When we talk to clients about homeowner’s insurance, we want them to have all the information they need to make good decisions about their insurance plans. One part of the decision is deciding if additional homeowner’s insurance coverage is worth it. You have to weigh the risk versus the investment. 

How common are hailstorms in Colorado? Based on numbers from the National Insurance Crime Bureau Report in 2016, Colorado has the second highest amount of hail claims from 2013 – 2015 (first place belongs to Texas). In 2016, there were over 5,500 hailstorms recorded in the United States.

More than 50% of the claims during this time were on homeowner’s insurance plan. The hailstorms rack up around $15 billion in damage claims every year.

If you live in the Denver, Colorado area, hailstorms are a common problem, and you should consider how they can impact your home and your car.

Hailstorms and Homeowner’s Insurance

Because hailstorms are a common (and costly) occurrence, you need to know if your insurance policy is going to be there to protect you. The worst thing which could happen would be for you to have to pay for all of the repairs yourself.

Every homeowner’s insurance policy is going to cover “acts of God” like wind, rain, and tornado damage. In most cases, the plan will also pay for hail damage, but there are a couple of factors the insurance carrier may look at if you make a claim on hail damage.

Before we start outlining homeowner’s insurance and hail damage claims, you need to understand one thing: every insurance carrier is different. All of them have different guidelines and coverage limits. We can give you a basic idea of homeowner’s insurance, but the best way to know, is to call your agent or give us a call and we can walk you through your plan.

There are some companies out there who are going to look at the age of your roof. If it’s younger than 10 years old, there is a good chance you’ll have full coverage. If it’s older than 10 years, you may not get the full value of the repairs.

For some carriers, older roofs only get reimbursed the depreciated value of the roof. The older the roof is, the more wear it has, which means the less money you’re going to get.

Additionally, most insurance carriers are going to send out a roof inspector when you file a claim. Why do they do this? The insurance company is going to protect themselves against scams and false claims. The inspector is going to determine if the damage is from old age or from the hail.

Protecting Your Home/Roof

You can’t control the weather. There is nothing you can do about Mother Nature, but there are a few ways you can prevent any unnecessary damage and costs.

One of those is to have a roof expert come to your home. They can tell you if you have any damage already and show you some areas you can improve. If you have any loose shingles which need replacing, you should do this before the hailstorm hits.

You can also invest in different shingles. If you’re willing to put in the money, you can have impact-resistant shingles put on your roof. They are more expensive than the traditional option, but they are built to withstand hail damage.

An additional tip for dealing with hail damage is to take a picture of your roof before (you can do this at any time), and then you can take a picture if there is a hailstorm. This will help the inspector and the insurance carrier see the difference in the roof before and after the storm. This could be the difference in you getting reimbursed or having to pay out-of-pocket.

Homeowner’s Insurance and Longevity Brokers

Dealing with insurance policies and carriers isn’t easy. There are so many restrictions, clauses, and loopholes, it can be crazy trying to decipher policy. Most policyholders just want to know they will have protection in case of a disaster.

You don’t have to be an expert on everything insurance related. All you have to do is be able to make one call. We will handle the rest. At one goal at Longevity Brokers is to protect the Denver, Colorado area with every kind of insurance plan out there.

Questions? Comments? Use our contact page or call us (720) 209-4598.

The post Does Homeowner’s Insurance Cover Hail Damage? appeared first on Longevity Insurance Brokers.

If you leave work one day or come out of your home to find your car broken into, what are you going to do? Is your auto insurance policy going to do anything about it? Are your things gone for good and you’re out of luck??

These are a lot of the questions we hear from clients about their car insurance policy. We want you to understand exactly what coverage your car insurance provides.

Car Insurance and Break-ins

To answer the question of “does my car insurance cover break-ins?” let’s go through a hypothetical situation. 

You go out to your car in the morning to leave for work. You’re shocked to see your windows are busted, and all of your stuff has been rifled through. You’re devastated. You call the cops, file the report, but now you’re not sure what to do next.

Well, here is the thing. Your auto insurance company won’t replace anything which is stolen out of your car. If the thief grabbed your laptop, your car insurance would have nothing to do with that.

Hopefully, this is where your homeowner’s insurance comes to the rescue. Depending on your policy (and most of them should), your home insurance or renter’s insurance will pay for you to replace the stolen goods if they were taken out of your driveway or garage.

What about the damage to your car? Luckily, this is where your car insurance carrier will help. If your windows were broken into to steal your things, the insurance policy would pay to get them fixed.

Similarly, if your locks are broken, or there is paint damage then you can file a claim, and it will be covered. While these might seem like minor damages, it can rack up some serious costs.

Which brings us to one of the tips we give to clients who have had a car break-in.

If your windows are broken, or you have some minor damages, don’t automatically file a claim. Yes, we know that’s weird to hear from insurance agents, but it’s the truth.

Depending on your deductible, it could be most cost-efficient for you to pay to fix your windows out-of-pocket instead of paying the deductible. Take the time to get a quote or two before you file the claim.

Protecting your Car From Break-Ins

At Longevity Brokers, we not only want to help you get the most affordable and quality insurance coverage to protect your home and your car, but we also want to give you the knowledge to prevent those things from happening.

There is no way to completely guard yourself against having a car break-in (aside from not having a car), but there are some things you can do to decrease the chances.

The first thing is obvious, lock your doors. Even if you’re going to be gone for a minute, always lock your doors. You would be surprised at how quickly a thief can get into your car, grab your things, and be gone. If the locks on your car are broken, get them fixed as soon as possible. It’s a small investment which can save you thousands of dollars and hours of frustration.

Another simple thing you can do is to keep any valuables hidden in your car. If you keep jewelry, electronics, or clothes in your car, try and hide them in the back seat or under something else. You don’t want to give the thief any incentive.

What to do if Your Car is Broken Into

If it ever happens, there are going to be a million thoughts running through your head. It’s scary and emotional.

The first thing you should always do is call the cops. In every situation, you should always call 911 as soon as possible.

Additionally, don’t touch or move anything from your car. Your first impulse is going to be to look through your car and see what was taken, but don’t! Leave everything the way it is.

After you’ve filed the report with the cop, and they have cleared you to get into your car, then you can see what has been taken. Take inventory of all the stuff. At first, you may not realize what has been stolen aside from the obvious.

Once you’ve had time to take stock of your goods, then you can file any claims necessary. This might be with your homeowner’s insurance carrier or with your auto insurance company.

Insurance with Longevity Brokers

Auto insurance and car break-ins are something we get a lot of questions about. Sadly, there are millions of thefts every year.

At Longevity Brokers, we want to protect your car, your house, and much more. If you have any concerns about your auto insurance or homeowner’s insurance, let us know.

We can give you quotes from dozens of companies. We pride ourselves on giving the best insurance protection in the Denver, Colorado area. There are two ways you can contact us, either through our contact page or a call at (720) 209-4598.

The post Does Car Insurance Cover Break-Ins? appeared first on Longevity Insurance Brokers.

You don’t want to have to make a claim, but what happens if you have to? Let’s imagine there was a massive flood which damaged your home. You have to make a claim to replace all of your furniture, clothes, electronics, and much more.

Do you know everything you would have to replace?

This article is going to look at why you should do a home inventory and tips on how you can do that. 

Why You Should do a Home Inventory

When you make a claim on your homeowner’s plan, you’re going to have to tell the insurance company what items were damaged and needed to be replaced. If you don’t know what needs replacing, you could forget a lot of your furniture or clothes. If you don’t put it on the claim, it’s not going to get replaced or you’ll have to pay to replace it out-of-pocket.

How to do a Home Inventory

Once upon a time, doing an inventory of your house meant you had to walk around the whole house with a piece of paper and a pen. Luckily, it’s not as painful or tedious anymore. There are much easier ways to track all of your things.

To start, grab your phone or a camera and walk around your whole house to video all of your things. Getting a quick video is a simple way to take inventory, but you need to do more than that. This is only the first step.

The next thing you should do is get a more detailed inventory of your stuff. Go through your home and take pictures of all of your things. Take photos of the serial numbers of the bigger items.

You also should write down all of the information and keep the info someplace safe which won’t be damaged. We recommend you keep the video files and the other information either in a safety deposit box or on cloud storage.

What to Include in your Home Inventory

When you’re taking stock of all your stuff, there are a lot of things you need to be sure to include. You want to include just about everything.

We suggest you do the inventory room-by-room. Start at one end of the home and work towards the other end. Include furniture, jewelry, electronics, clothes, carpets, appliances, and even light fixtures. If you would have to pay to replace it, then you need to put it on your list.

On the item list, you want to include what the item is, a description of it, when you bought it, a serial number, and how much you bought it for. You need to do this for every item on your inventory. Sure, it sounds time-consuming, but having this additional info is going to save you a lot of headaches if you ever need to file a claim.

Things to Remember

Doing an inventory of your home and all your things can take some time, but it’s very important.  Hopefully, you’ll never need to make a claim on your homeowner’s insurance plan, but if you do, you’ll be grateful for your inventory.

After you’ve finished taking stock of all your things, you may realize you need to increase your insurance plan. If you’ve had the same homeowner’s insurance policy for several years, it might not be enough protection anymore. Take the time to review your plan and guarantee if is giving you the protection you and your family need.

One important thing to remember is to update your home inventory. You’re going to keep buying new things. You want to keep an updated list of all your things. You should go through your home at least once a year to update your inventory list.

Getting Homeowner’s Insurance

If you have any questions about homeowner’s insurance, the coverage limits, or about making a claim, feel free to give us a call. We are independent insurance brokers, which means we aren’t employed by a single insurance company. We work with some of the best highly rated insurance carriers across the country.

Our agents have years of experience helping people find the best insurance policies out there. It’s our mission to serve the Denver, Colorado area with the most affordable insurance available.

You never know what is going to pop up. If something were to happen, either as an act of man or an act of nature, you could find yourself with some massive financial problems.

If you want to increase your homeowner’s insurance coverage or you want to save money on your protection, you can use our contact page, or you can give us a call at (720) 209-4598.

The post You need to Create a Home Inventory appeared first on Longevity Insurance Brokers.

When you think of homeowner’s insurance, you probably think about earthquakes, flooding, or any other natural disaster. Your homeowner’s policy can be much more than that.

Let’s say you someone over for dinner, and while they are walking down the stairs, they take a tumble down. Hopefully, everyone would be okay, but you never know. There is a chance you could be held liable.

What does it mean if you’re held liable for those injuries? Well, it means you are going to be responsible for some massive hospital bills. 

We want you to have the perfect homeowner’s insurance plan to protect not only your home but your finances. To help you, we are going to explore the liability coverage which is included in homeowner’s insurance protection.

Homeowner’s Insurance and Liability Coverage

Just about every homeowner’s policy has a liability insurance portion. Each policy is different, but most are going to give coverage for up to $100,000 in personal liability. This means if someone were to get injured, and it was your fault, your homeowner’s policy is going to pay for up for medical bills and legal fees for up to $100,000.

Your homeowner’s policy covers different categories in regards to liability. The first is bodily injury. This is the part which pays for hospital fees (it’s also called guest medical). This could be anything from ambulance rides, x-rays, dental work, and much more.

In addition to the hospital bills, the liability coverage could also help cover any funeral expenses if something tragic were to happen to someone on our property. Obviously, you don’t want to think about anything this awful happening to anyone at your home, but you never know. Not only will your plan pay for

Another part of the liability coverage is property damage protection. This is the part which will pay for repairs or replace of someone else’s property if it’s damaged while in your home or on your property.

The personal liability part of your homeowner’s insurance policy coverage hundreds and hundreds of different situations, some plans cover more than others, but there are some common claims the insurance company sees.

The most common claim for a homeowner’s insurance liability protection is a dog bite. They are extremely common. Based on the numbers from the Insurance Information Institute, dog bites account for around $400 million every year. It’s more than one-third of claims. As long as you have the proper homeowner’s insurance policy, you will be protected. A dog bite might not sound too serious, but it can rack up some massive hospital bills.

Another common type of claim is any slip of falls. We used the example of someone taking a tumble down your stairs, the reason we used this example because it’s extremely common for family members or guests to skip on a sidewalk or on the stairs.

What your Homeowner’s Insurance Policy Doesn’t Cover

If your house guests take a slip and falls, it’s coverage. If YOU take a slip and fall, it’s not covered. Homeowner’s policy has a household member exclusion, meaning anyone who permanently lives in the home doesn’t get the liability protection.

Another part of coverage not offered by homeowner’s insurance is about your car. A lot of people think their policy will pay for repairs to their car if a tree falls on it or it’s somehow damaged while on their property. That’s not true. Your liability insurance portion will pay for another person’s home while it’s on your property, but not your own, that’s where your auto insurance would come in.

Do You Have to Have Liability?

Here’s the thing, you aren’t REQUIRED to have liability insurance for your home, but it’s going to be hard not to get it. 99% of homeowner’s insurance plans are going to include liability protection in their plans. The mortgage company is going to require you to have a homeowner’s insurance plan, and the plan has liability.

As we mentioned before, most plans have liability coverage up to $100,000, but you can get more coverage if you want it. Most companies allow you to bump the liability protection up to $300,000.

Should You Buy More?

We can tell you exactly what’s best for you (especially without knowing your specific situation), but we think it’s a good idea to up your liability coverage.

$100,000 might sound like a lot of protection, but when you’re talking about hospital fees and medical bills, it can quickly blow past the maximum coverage limit. Getting the additional $200,000 in coverage can make a world of difference if there were ever an accident.

Need Help with Homeowner’s Insurance?

We know all of these plans and coverages can be confusing. You don’t have to be an expert on insurance. That’s why we are here for you. We can be your experts. It’s our job to explain your coverage and make it easy for you to understand.

If you have any questions about your homeowner’s policy, or you’re looking to save money on your policy, please give us a call.   Shoot us a call at (720) 209-4598 or use our contact page. We would love to you and help you find the best plans for you and your home.

The post Does Homeowners Insurance Cover Accidental Death/ Liability? appeared first on Longevity Insurance Brokers.

Sure, you could buy an insurance policy to protect your dog, or you could buy a quality insurance plan to protect your biggest investment, which is your home. Your house is where everything you own is. It’s where your family sleeps.
Mother nature can throw some crazy things your way, and some of her curve balls can damage your home. What would you do if your house was flooded or a tree fell on your house? Do you have the money saved up to replace all of your things and fix your house? Probably not.

Luckily, you don’t have to have a fortune saved up just in case. That’s why a homeowner’s insurance policy is so important.

How Much Does Homeowner’s Insurance Cost?

Think of homeowner’s insurance coverage as a safety net for your home. Hopefully, you’ll never need to use the policy, but it’s there if you need it.

For most people, they were required to buy a homeowner’s insurance policy as a part of the mortgage process. Just about every mortgage company requires the homeowner to get a plan to complete the loan. The company wants to protect their investment as much as possible.

Most areas of Colorado are not high-risk areas for any natural disasters (although you never know what’s going to happen), but there are two specific cities which have higher insurance rates, Sterling and Pueblo. Sterling suffered from the largest tornado in Colorado history in 2000 and Pueblo has higher than average property crime rate.

Both of these are causes for higher homeowner’s insurance rates. If you’re a resident in or around these cities, then you’re going to pay more, but if not, then the rates are going to be much more affordable.

There are a lot of different factors to the insurance company is going to look at when deciding how much they are going to charge you every month for your coverage. The will look at the size of your home, the value of your home, the age, the location, and much more. It’s almost impossible for us to get you an exact idea of how much you’ll pay without knowing your specific situation, but we can give you a rough idea.

Let’s look at some of the averages for cities in Colorado. We are located in Denver, so we are going to look at those houses first. The average homeowner’s insurance in Denver costs a little over $1,400 annual premiums based on the numbers from ValuePenguin.com.

Compared to the average national, it’s a good bit more expensive. The national average for homeowner’s insurance in 2018 is $1,083. But Denver is not the cheapest place to live in Colorado.

The cheapest average homeowner’s insurance plans belong to people living in Grand Junction. If you live in Grand Junction, you can enjoy annual rates as low as $815 every year. This is drastically lower than the national average.

Cheaper Rates

Regardless of which city you live in, there are a couple of ways you can lower your homeowner’s insurance rates. As we mentioned, the insurance company is going to look at dozens of different factors and qualities when they are determining how much to charge you.

If you want to save money, there are a couple of things you can do to your home. One thing is to buy a security alarm or other safety features. The safer your home is, either through smoke detectors or hurricane shutters, the insurance company will view your home as less risky.

If you’re looking for a quick and easy way to lower your premiums, it’s time to raise your deductible. The deductible is the amount you’ll have to pay out of pocket before your insurance coverage kicks in. If your deductible is $500, consider raising it to $1,000. This simple change could trim your premiums by hundreds of dollars every year. As long as you don’t have to make a claim in the first couple of years, it will save you money.

If you’ve had the same homeowner’s insurance plan for several years, it’s time to do some shopping around. That policy may have been the cheapest option when you originally bought it, but there could be some more affordable plans out there.

This is where we come in. Our agents at Longevity Brokers aren’t a normal homeowner’s insurance agent who only works with one company.

We are independent agents, which means we aren’t tied to one company. Instead, we have the ability to present you with a dozen different options from various companies. The best way to get cheaper homeowner’s insurance is to find a company who has cheap coverage.

Instead of digging through all of the options and wading through all of the confusing terms and jargon, let one of our experts do the dirty work for you.

At Longevity Brokers, we specialize in protecting every area of your life. Not only can we help you find an affordable homeowner’s policy, but we can also help protect your car, and much more.
If you have any questions about homeowner’s insurance or any of the other plans we offer, please don’t wait to give us a call. Our agents are standing by and would love to talk to you about any of your insurance needs. You can call us at (720)209-4598 or use our contact page.

The post How much is Homeowner’s Insurance in Colorado? appeared first on Longevity Insurance Brokers.

For the past several years, auto insurance companies have reported minor profit margins or even negative profit margins. If they are not earning money on their policies, you can expect them to raise the rates.

Why are Rates Going up?

Businesses make money by having higher revenues than expenses. The higher the revenues versus their expenses, the more money they are going to make. With an insurance company, it’s a little different. The auto insurance companies make their money from their premiums and their expenses include the payments they make for repairs.

Every year, the insurance companies look at how much they have made versus how much they had to pay in expenses, which includes payouts to claims. The major companies were barely making money on their premiums. There is one simple way to solve this problem, raise premiums. 

There are several reasons the insurance companies are losing money, but one of those is because of weather. In the past year, there was a lot of natural disasters which caused auto damage. The majority of those repair bills were sent to the insurance company, which are the comprehensive claims. According to the Insurance Information Institute, the average cost of these claims was $1,700. A lot of these were a result of the severe hurricane season in 2017. To offset those losses, the insurance companies have little choice other than raise their premiums for another year.

Not only did Mother Nature play a major role in raising your rates, but other drivers are part to blame as well. Statistics show there have been drastically more crashes in the past several years than ever before. The insurance companies see these statistics and they are looking to offset the additional risk. Last year, in 2018, slightly over 22% of households had at least one claim on their auto insurance policy, which is almost 2% higher than in 2014.

Cheaper Auto Insurance In Denver

If you’re like most people, the idea of paying more for your auto insurance makes you groan. You have to have an auto insurance policy, but you can’t imagine having to pay EVEN MORE for your coverage. It can be very frustrating for a policyholder who hasn’t made any claims, but is forced to pay higher rates every year.

There are a few things you can do to secure lower insurance rates for your car coverage. Just because you have to have a plan doesn’t mean you have to pay for a plan which breaks your bank account every month. Making a few simple changes could save you money on your coverage.

The first thing you should do is take a long hard look at your deductible. If you want to save money every month, call your insurance agent and talk to them about raising your deductible.  The deductible is the amount you have pay out-of-pocket before your insurance coverage comes in. If your deductible limit is at $500, you can consider raising it up to $1,000 which will significantly lower how much you have to pay every month. This could save you as much as $200 or $300 every year on your insurance plan.

Another way you can save money is to usage-based driving insurance. These policies are very different than a traditional insurance company because they base your rates on how much you drive. Think of it as a “pay-per-mile” insurance coverage. This is an excellent choice for anyone who doesn’t drive a lot every year.

Ask for discounts from your insurance company. It may seem a little ridiculous, but if you want to save money, try asking. Most insurance companies offer dozens of different discounts for policyholders who are apart of certain groups, who haven’t missed a payment, or who bundle their policies. It doesn’t hurt to ask, and it could save you money.

With your premiums going up (probably not for the first time) now is a good time to do some comparison shopping for your auto insurance policy. The ten biggest insurance companies were struggling to cut a profit, which means their rates are going up, but it doesn’t mean ALL insurance companies are going to raise their rates. With these higher premiums, there might be a cheaper option on the market. If you want to save money, look for a cheaper option. If you’ve had your plan for several years, there could be several cheaper options.

Working with Longevity Brokers

Instead of spending hours calling insurance companies to get quotes for your car, let us do the work. We aren’t your traditional old insurance broker. We can connect you with the best auto insurance companies in the Denver area. Also, we can work with you to help you save as much money as possible on your auto insurance plan and answer any questions you have.
Auto insurance is the most confusing type of plan out there because of all the optional coverage and additional protection you can have. We are here to answer your questions and walk you through the process. If you want to save money, contact one of our Longevity Brokers today.

The post Car Insurance Rates on the Rise appeared first on Longevity Insurance Brokers.

When you’re shopping around for homeowner’s insurance coverage, there are a few things you’ll need to ponder to ensure you’re getting the best plan for you. The thing our clients are most concerned with is how much their policy is going to cost.
There are quite a few factors the insurance company is going to review deciding how much to charge you for protection. They are going to look at some obvious factors, like the size of the home and the cost of the home, but there are other components they review which might surprise you.

If this article doesn’t answer any of the questions you have about homeowner’s insurance and the various factors, please feel free to leave a comment or contact one of our agents.

Marital Status

Your spouse could be saving you hundreds of dollars on your homeowner’s insurance policy. Insurance research has shown married people tend to make fewer claims than single people. Being married is going to reduce your insurance premiums. 

If you’re married, they are going to view you as a less risky insurance candidate, which is going to translate into lower premiums.

Do you Have a Swimming Pool?

If you have a swimming pool, you’ll be able to enjoy a nice cool dip in the summer, but you’re going to pay more for your insurance plan every month. Pools are fun, but insurance companies see them as additional risk. More risk means higher premiums.
Having a hot tub is going to be seen as a risk too. They are a great addition for your family, but be aware, they are going to increase your rates because of the summer fun.

Dog Breed

Believe it or not, the type of dog you have could impact how much you pay for your homeowner’s insurance plan. There are certain breeds of dogs which are more aggressive. If you own one of these dogs, then the insurance company increase your rates.
If you have a dog, you should always share the information with your insurance agent. If they don’t know the breed of the dog, they are going to aim on the safe side, which is probably going to cost you money.

How Close are you to a Fire Department?

This one speaks for itself. The closer you are to a fire department, the quicker they will be able to arrive at your home if there was ever a fire. The quicker they get there, the less damage to your home.
Not only does your proximity to a fire station lower your rates, if you have a fire hydrant close to your home, you can get cheaper premiums as well.

Smoking

Smoking is bad for your health, and you probably know smoking is going to cause you to get more expensive life insurance rates, but you may not know those cigarettes can impact how much you pay for your homeowner’s insurance plan as well.

If you smoke, then you have a higher risk of a house fire. Smokers are going to pay hundreds of more dollars every year for their insurance plan. If you’re looking for a way to save thousands of dollars, then quitting smoking is one of the best ways you can do that.

Your Credit Score

Your credit score plays a huge role in a lot of different areas of your life, and your homeowner’s insurance policy is one of those. As you can probably guess, the better your credit score, the lower insurance premiums can be. If you have a poor credit score, the insurance company may be worried about your financial security, and they will see that as additional risk.

Saving Money On your Homeowner’s Insurance Policy

As you can see, there are dozens of factors the insurance company is going to look at when they calculating your monthly premiums. It’s important you get the most affordable policy available.

We know shopping for the perfect policy can be a confusing process, but at Longevity Brokers, it’s our mission to give you the information and resources you need to find a quality insurance plan at the lowest possible premiums.

Every insurance company is different, and all of them have different rating systems. Companies are going to view your house different and the risk it presents, which means you could get wildly different quotes depending on the company and their underwriting.

Our agents at Longevity Brokers are here to save you the trouble and frustrating of having to call those companies yourself and get the quotes. We don’t work with one single company, we work with dozens of highly rated insurance companies across the Colorado area. We can help you protect your Denver home. After a few quick questions, we can offer you a general set of quotes for homeowner’s insurance.

If you have any questions about homeowner’s insurance or ways you can lower your insurance premiums, contact us today. We would be happy to answer those questions and ensure you have the best plan for you and your home.

The post Surprising Factors that Increase your Homeowner’s Rates appeared first on Longevity Insurance Brokers.

Your Driving Record

The obvious thing the insurance company is going to review when you apply for coverage is your driving record. The goal of the auto insurance company is to determine how much risk you are for car insurance. The riskier you are, the more you’re going to pay for your plan.
During the application process, the company is going to pull your DMV records, and they are going to have a huge impact on how much you pay for your coverage. The safer you are as a driver, the more you can save. When you’re on your morning commute, slow down. IF you have a speeding ticket, it could cause your rates to go up by 30% or more.
If you have a lot of violations or accidents on your driving record, there is a chance you can get rejected for coverage. There are a lot of companies on the market which don’t get high-risk applicants insurance coverage.

Vehicle Type

Not only will HOW you drive impact your rates, but WHAT you drive is going to impact them as well. Insurance companies are going to look at various kinds of data. If drivers of your same model car have been in more accidents, then your rates are going to be higher. Additionally, they are going to look at other factors like,

• Results from safety tests
• Average costs of repairs
• How often the model is stolen
• Average purchase price

Sure, it seems a little unfair to pay higher premiums because of other drivers, but insurance companies want to use all of the information available. If you want to save money on your insurance coverage, you need to find a safer vehicle with extra safety features, but more features don’t automatically equal lower rates.

Age

You probably know people are going to get lower insurance rates if you’re over 25, but that’s not always necessarily true. The younger a driver is, the more risk they are for auto insurance. They have fewer years of driving experience, and they are more prone to accidents.
Once you reach 25, you’re probably going to get lower rates, especially if you haven’t had any accidents or violations. The rates you get once you hit 25 or 26 are going to stay about the same for most of your life.
There is a chance you’re going to pay more as you get older. Depending on the company and your driving record, seniors could start to pay increased rates because of possible vision problems or slower reactions.

Marital Status

You might be surprised to learn that married people pay less for their car insurance compared to single people. As odd as it is, married people are less likely to be car accidents, and there are several theories on why this might be true.
The obvious reason is married people drive less than single people. The less you drive, the less chance there is you’re going to be in an accident.
Another theory is married people tend to be more stable and take fewer risks when they are driving. They are less likely to speed, be convicted of DUI, and much more.

How much you Drive

The more you drive, the higher your chances are of being in a motor accident. If you work from home, or you have a very short commute to work, make sure you let your insurance company know, it could mean much lower insurance rates.
Even if you already have an auto insurance plan, but you’ve changed jobs, or you don’t drive as much, then you can get your rates updated. Not only does how much you drive impact your rates but where you drive. If you used to work in the middle of a city, but now you work in a rural area, then you can save money.

Working with Independent Insurance Agents

Every auto insurance company is different, and all of them have different rating systems and ways they calculate risk, which means the rates you get could vary wildly depending on who you contact. It’s vital you contact dozens of companies before you choose the best one for you.
Instead of spending hours and hours calling various companies in the Denver, Colorado area, let one of our independent insurance agents do all of the hard work for you. We work with all of the best companies in the Denver area, and we can bring a personalized set of rates directly to you. We have years of experience working with all kinds of applicants.
If you have any questions about auto insurance or you want to save money on your coverage, please contact us today. You can use our contact page or give us a call at (720) 209-4598

The post 5 Things that Make your Car Insurance More Expensive appeared first on Longevity Insurance Brokers.