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.