What Does Umbrella Insurance Cover?

Umbrella coverage is an additional liability insurance plan that’s designed to go beyond the limits of various standard insurance policies like home, automobile, or watercraft insurance. It provides extra security to anyone who is at risk of being sued for damaging another person’s property or injuring others in an accident. Umbrella coverage also protects against vandalism, libel, invasion of privacy, and slander.

Simply put, this coverage will supplement your basic liability policies because it has a much higher limit. So, once your original plan is exhausted, the umbrella insurance coverage will kick in. This added policy is useful if you own valuable assets or a lot of assets and you are at risk of being sued. Now, Longmont, CO residents can rely on 1st American Insurance Agency to get umbrella insurance.

How it works

Your umbrella coverage may come into play whenever you’re found accountable for damages and you have to pay for the losses or when you are prosecuted and you have to cater for your legal fees. The umbrella policy will only pay once the standard liability coverage limits are exhausted or if an entitlement isn’t included in the underlying liability coverage. Your insurer can pay the settlement up to your coverage limits. However, if the settlement amounts still exceed your umbrella coverage limits, you’ll be forced to pay the remaining amount out of your pocket.

Why is umbrella coverage vital?

Your house, car, retirement plan, investment accounts, and your normal savings and checking accounts are considered assets. If you are sued, all these assets will be at risk if you don’t have adequate liability insurance to protect you. Fortunately, an umbrella policy will ensure your assets are not exposed. This way, you will be protected regardless of the situation at hand.

Contact us at 1st American Insurance Agency for more information on umbrella insurance in Longmont, CO.

 

When do I need Recreational Insurance?

With the mention of a Recreational vehicle (RV), what comes to mind is fun and travel. Although this is so, an RV is a large and expensive investment that should be taken care of in every way possible. The 1st American Insurance Agency in Longmont, CO knows how valuable RV’s are, and that’s why we have different recreational insurance policies to suit your needs. Below are instances when you will need recreational insurance.

When Your RV is a motorhome

The law requires all motor homes to have liability insurance whenever they are on the road. You can decide whether or not you want full coverage for you RV depending on its value and the possibility of a loss. People who live in their RVs full-time may want to ensure that their vehicles have additional cover.

When your RV is financed

Financed RVs require full insurance coverage. This is because the financer would not risk losing money in case the RV is lost or involved in an accident. In case you want to avoid taking insurance for your RV, the lender may decide to take it on your behalf, but you will pay for the cost. Therefore, you do not have a choice in the matter considering the premiums will be higher if the policy is taken by the lender, and in most cases, they won’t cover liability.

When your RV is a rental

When you rent an RV, it is your responsibility to take care of it. It is advisable to purchase an insurance coverage for it while it is in your possession. Your auto insurance may cover a rental RV in some cases but you need to confirm this with your auto insurance carrier. If it does not, there are short-time policies that you can purchase for the period you intend to rent the RV.

Whether or not you are required by law to have insurance for your recreational vehicle, it is important to have one to protect your investment. The 1st American Insurance Agency offers this and other types of insurance in Longmont, CO. Visit our website today for more information about recreational insurance.

When Should I Get Motorcycle Insurance?

If you enjoy riding a motorcycle, the state of Colorado provides some amazing places to enjoy the beautiful landscape and open road. If you do own a motorcycle in the Longmont, CO area, you will want to make sure that it is properly covered by insurance. There are several situations in which you will want to get insurance on your motorcycle.

When You Want to Comply with the Law

One situation in which you will want to get motorcycle insurance is when you are looking to comply with the law. While most people consider a motorcycle to be a recreational vehicle, they still come with similar insurance requirements as other types of vehicles. In Colorado, you will be required to carry bodily injury coverage of up to $50,000 per accident and property damage coverage of at least $15,000 per incident.

When You Have a Loan

If you have taken out a loan when you bought your motorcycle, you will want to carefully consider the requirements under the loan agreement. In many situations, you will find that you will need to have a full collision and comprehensive policy in place. Even if this is not required under a loan agreement, if you have a loan outstanding having the additional coverage could be helpful. This will provide you with coverage in a wide variety of situations including if your motorcycle is stolen, vandalized, or severely damaged.

When you are considering your options for motorcycle insurance, you should meet with the 1st American Insurance Agency to discuss your needs. Those that are in the Longmont, CO area and meet with the 1st American Insurance Agency will find that the agency can provide some amazing services to help better explain auto insurance requirements and help anyone get into the right policy. 

 

 

 

When Will You Need to Update Your Commercial Insurance?

A significant number of people always take time to review and update their home and life insurance policies but forget about their commercial insurance policy. As a business owner in Longmont, CO, it’s your responsibility to determine whether its time to update your commercial insurance policy from 1st American Insurance Agency or not. You need to remember the fact that as time goes by; your business will grow and change to meet the varying needs of your clients. Here are certain events that will dictate whether it’s time to update your commercial insurance policy.

Your Business Has Expanded

If you are moving your business operations to a larger space, creating new business departments, or recruiting more employees, you need to understand that your business is growing and your current policy may not offer sufficient coverage. You need to update your policy to reflect your new business status. If you are opening branches in other cities, states, or countries, you need to sit down with your provider and update your policy since your current coverage may not be applicable in your new area of operation.

You Are Downsizing

The opposite of expansion is downsizing. If you need less commercial space and a limited number of employees, then you require less coverage. Keep in mind that when you are downsizing your business in Longmont, CO, you may be getting rid of certain departments or some staff members whose roles have become obsolete. This offers you a great time to meet your agent from 1st American Insurance Agency and update your policy to feature the amount of coverage that you need.

When You Are Changing Your Business Model

Are you moving your physical business online? Are you switching from manual operation to an automated service? If you are changing your business model, make sure that your commercial insurance policy also changes with it.

Contact us today for your commercial insurance policy.

What to Do if Your House is Robbed

There’s no question that having your home robbed can be an extremely scary and stressful situation. Due to the shock, you may not know what to do when this happens. The good news is, you don’t have to worry about making the wrong move. The tips here will help ensure you know what to do after your house is robbed.

If you need more information to help with a situation that occurred in Longmont, CO contacts the team at 1st American Insurance Agency.

Contact the Police

The first thing you should do when you discover that your home has been robbed is to contact the police. The fact is, if you touch things or even go into the home, you may unknowingly destroy some of the evidence needed to catch the person who broke into your house. Stay outside, contact the police and wait for them to arrive before doing anything.

Make a List of Everything That’s Missing

Once the police have come and gathered the information and evidence necessary, it is time for you to go around your home and make a list of everything that is missing. This is imperative and something you will need to give to the insurance company if you want to receive a payment for what was lost.

Contact Your Insurance Company to File a Claim

The next step is to contact your insurance company and file a claim for everything that you discover is missing. In most cases, as long as your premiums are paid, you will have no question getting the compensation for the items that are missing.

If you don’t currently have any insurance in place, or have questions about your coverage, then you need to contact 1st American Insurance Agency, which serves Longmont, CO, and surrounding areas.

Expanding Recreational Insurance To All Your Need

If you own recreational vehicles in Longmont, CO, it is important to make sure that your policy covers all of your needs. It’s very easy to miss out on insuring a specific vehicle or to miss a loophole that is easy to fill. Therefore, take our advice from 1st American Insurance Agency and expand your policy properly.

Vehicles Covered By Recreational Insurance

If you have multiple recreational vehicles, you need to expand your service to ensure that you get everything covered. Just a few types of vehicles that are covered include:

  • Boats – Vehicles of 50 feet or less in length
  • Personal Water Craft – Jet Skis and other types of personal water vehicles
  • Off-Road Craft – Craft such as golf carts, ATVs, snowmobiles, dirt bikes, and dune buggies
  • Motor Homes – Temporary living vehicles, such as RVs and other motorhomes
  • Travel Trailers – Trailers that haul your belongings or other items while on a trip
  • Fifth Wheels – Large campers that require a specialized attachment to haul

Each of these vehicles have slightly different coverage needs that must be taken into account by owners. For example, fifth wheels require coverage for the connection item as well as the motorhome living area.

Other Types Of Coverage Needs

There are other types of insurance coverage that are necessary for your recreational vehicle protection. These include:

  • Temporary Living Insurance – Good for those who plan on living in their home for a short period
  • Travel Insurance – For when you travel out of your general area with your recreational vehicle
  • Liability Coverage – Necessary for when you cause an accident and get in a lawsuit

Is Your Recreational Insurance Up To Speed?

If your Longmont, CO recreational insurance doesn’t feel quite up to this level, contact us at 1st American Insurance Agency today. We can help you to find a policy that works for your recreational needs and ensure that you are fully insured.

Understanding Financing a Car and Auto Insurance Requirements

If you are wanting to purchase a new or used car in Longmont, CO, it is important that you understand your car financing options as well as insurance requirements. Here is a quick overview of various financing options and a simple way to understand what type of insurance you need.

Understanding Your Credit Score

Before you decide to go to a dealership, you should take the time to check your credit report. You will need to do this because, unlike credit cards and mortgages, there are ways to purchase a vehicle even with bad credit; however, the higher your credit score, the more likely you are to get a good interest rate. There are free tools online you can use, such as Credit Karma, that are designed to give you a better understanding of what bracket your credit score falls into.

Get Financing Quotes

For those of you who have perfect credit, you will be able to visit a dealership and obtain the best financing rates. If you do not have the best credit, though, there is no need to fret because there are plenty of financing options. For starters, you can try out an online lender. To do this, you will need to complete your credit application online. The service provider will then use your credit score to match you with lenders who are willing to lend you money. An excellent advantage of quotes is that you are not required to use the loan you are being quoted on. Instead, you can compare quotes and choose one that works best for you and your financial situation.

Shorter Term is Better

If you get approved for a loan, it is best to go with a shorter payment plan because it will come with a lower interest rate. The downside to this is that your payments will be higher.

Contact Us Today

If you acquire an auto loan, the lender will likely mandate that you purchase an auto insurance policy with collision, comprehensive and liability coverage. If you don’t use a loan, however, a liability policy may be sufficient enough to meet the state’s minimum coverage requirements. Contact us today at 1st American Insurance Agency serving the Longmont, CO area to learn more about financing and auto insurance.

How Can Umbrella Insurance Prevent Financial Losses?

Common insurance policies such as auto and homeowners’ insurance can provide average protection. In some cases, however, you may need additional coverage to help prevent losses from events that exceed the limits of your coverage. Having umbrella insurance can give you the protection that other policies can’t offer.

What Is Umbrella Insurance?

Umbrella insurance is additional insurance protection that covers limits above and beyond standard insurance coverage. For example, if you have $1 million in coverage on your home, but you feel that there is a high chance that there may be an event that would exceed the limits of coverage you have then umbrella insurance would protect you. If you have an expensive vehicle and you feel that your standard coverage might not be enough to protect you from additional replacement costs or medical expenses, then umbrella insurance would be a smart option.

Do You Need Umbrella Protection?

If you are unsure whether or not umbrella coverage is right for your needs, you should consult an insurance professional. They can help you assess your needs and offer recommendations that can provide the coverage you need and the peace of mind that comes with it. 1st American Insurance Agency can assist the residents in and around the Longmont, CO area with their umbrella insurance needs.

If you feel that you don’t have enough insurance coverage, and live in or around the Longmont, CO area, then you should call or stop by 1st American Insurance Agency and speak to a knowledgeable insurance representative. They are there to answer any questions and help you determine what type of coverage is best for your situation.

What Does Recreational Insurance Cover?

Those who own campers, ATVs, and other off-road vehicles in Longmont, CO sometimes shy away from recreational insurance because of the confusion surrounding such plan. It can at times be a complicated matter since recreational vehicles can be insured through either your homeowner’s or auto insurance policies. 1st American Insurance Agency can help you work through the red tape and find the right plan to assure your off-road sports vehicle or RV.

What does recreational insurance cover when attached to a homeowner’s insurance policy?

Generally, you can only assure your recreational vehicle along with your home if the automobile is not used on public highways. A camper that you often take on road trips across the country would likely not qualify for coverage. The positive thing about having an indemnity plan for your RV included with your homeowner’s policy is the level of coverage you receive. Everything from medical bill payments to general liability for at-fault instances is taken care of under such plan. Recreational insurance claims work much like a traditional home insurance plea. You need to file with the assurance agency and pay the required deposit for financial coverage to initiate.

What does recreational insurance cover when attached to an auto insurance policy?

Perhaps the most familiar way to assure your recreational automobile in Longmont, CO is through a traditional vehicle insurance plan. As with coverage for your everyday car or truck, a recreational indemnity plan pays for physical damage to your off-road vehicle if it is involved in an accident or stolen. You will need to obtain full coverage to reap the benefits of coverage for things such as vandalism theft, and damage caused by falling objects such as tree branches. In the unfortunate event of an accident, a recreational insurance plan attached to your standard auto insurance policy may cover:

  • Bodily Injury
  • Property Damage
  • Umbrella Insurance
  • Medical Payments
  • Personal Injury Protection

You should not bypass recreational insurance because you do not understand all of the details. Let one of the agents at 1st American Insurance Agency help you get to the bottom of things with an explanation of options and a quote!

Planning Now for Summertime Adventures

As springtime blooms appear along the Front Range, families in Longmont, CO and the greater Denver metropolitan area have started to plan vacation adventures. Some RV owners may choose weekend getaways to nearby destinations such as Rocky Mountain National Park, while others have more distant destinations in mind, such as locations in Montana, Utah, and Wyoming.

Wherever you decide to go, the agents at 1st American Insurance Agency encourage you to make sure that your present coverage levels meet your needs and that your checklist includes a few important tasks:

Inside Your RV

  • Inspect all of the safety equipment, including your road hazard kit and first aid kit, and make sure you have extra provisions of water and other necessities if you plan to travel to a remote area.
  • Refresh the interior, check for mold or mildew, and inspect batteries, lights, and other amenities within the cabin and living areas.

Outside Your RV

  • Check your tires for low pressure or any visible damage.
  • Inspect doors, windows, and other areas for cracks or damage.
  • Examine propane and other systems for possible leaks.
  • Make sure that you have spare keys available for your journey.

Under the Hood and Other Storage Areas

  • Examine wires, cables, batteries, and fluid levels with a plan to schedule service visits before your vacation is scheduled to begin.
  • If you have not started the RV in more than a month, be sure to inspect areas around the engine to make sure that rodents or animals did not build any nests under the hood.
  • Inspect filters and make sure that the water system has been flushed and cleaned out.

1st American Insurance Agency proudly serves those who live in and around Longmont, CO. We encourage you to contact our offices for more information about our recreational insurance policies.