Quick Guide to Motorcycle Insurance

Going for an afternoon ride on your motorcycle with the sun shining down on you and the wind blowing through your hair can be fun and relaxing. Unfortunately, too many motorcycles ride to end in pain or tragedy. If you own a motorcycle, it is important to make sure you are covered. Before you take your next ride through Longmont, CO, take a look at this guide to ensure you have the coverage you need.

Requirements

Colorado requires a minimum of the same amount of liability coverage on your motorcycle as it does on your automobile:

  • $25,000 per person for bodily injury
  • $50,000 per accident for bodily injury
  • $15,000 per accident for property damage

Additional Coverage Options

With the danger, motorcyclists face, liability might not be enough to protect you. The following are additional coverage options to consider. If you have questions about any of them, give 1st American Insurance Agency a call.

Collision

Covers damage done to your motorcycle due to a collision with another vehicle.

Comprehensive

Covers damage done to the motorcycle by something besides a collision and theft.

Personal Injury Protection

Covers medical bills due to injuries that you, pedestrians, or your passenger no matter who is at fault.

Uninsured/underinsured

Covers injuries caused by a driver who has no insurance or not enough insurance. 

Lay-Up Coverage

Lay-up periods refer to the times when a motorcycle is put away, for instance in the winter. During that time, most motorcycle owners prefer to have only lay-up coverage. It covers any theft or things that happen during storage.

If you are looking for new motorcycle insurance coverage or would like to improve the coverage you currently have, give 1st American Insurance Agency of Longmont, CO a call or stop by today!

 

When is commercial insurance required?

General liability insurance is not required to start a business in Longmont, CO. You may, however, want to consider purchasing a policy since the likelihood of an at-fault incident occurring increases with every operational day. General liability is an element of commercial insurance that is optional. There are, however, times when you must purchase insurance for your business to remain in compliance with state and federal laws. The agents at 1st American Insurance Agency can help you find the commercial insurance policy that works for your company. Read on to learn when you must purchase a commercial indemnity plan. 

When is commercial insurance required?

Commercial insurance is required when you have employees. You need worker’s compensation insurance to cover an employee’s injuries on the worksite or offsite but during the commission of things related to the job. Worker’s compensation protects the employee as well as the business owner because it limits the level of liability that a company is responsible for when an incident occurs. Worker’s compensation is required even if you work from home with one employee as your assistant. 

Commercial insurance is also necessary when you use automobiles to carry out the duties of your company in Longmont, CO. A traditional auto insurance plan does not provide enough coverage for your fleet, which is why you need a commercial plan that has policy limits of at least $1 million. There are instances where a discount is available to companies with dozens of vehicles. You, of course, need to speak with an agent at 1st American Insurance Agency to determine how much commercial auto insurance you need. 

Call us today!

Commercial insurance is not always required in Longmont. You should, however, consider an indemnity plan that safeguards your company against lawsuits when incidents occur. Call one of our agents today to discuss possible options that protect your business and personal assets!

Benefits of Off-Season Motorcycle Coverage

Winter weather can make motorcycle riding extremely difficult in Colorado. When temperatures drop, you may decide it’s time to store your bike for the season. Storing your bike for the winter, however, doesn’t mean you automatically drop all coverage. By scaling back your coverage, you can save money on your premium and still retain the protection you need during the winter months. Here’s how off-season motorcycle insurance from 1st American Insurance Agency in Longmont, CO can protect your bike during winter at reduced costs.    

Reduced Collision and Liability Coverage

As you won’t be riding your bike during the winter, there’s no reason to maintain high limits on your collision or liability coverage. By reducing coverage to minimum levels, you can lower premium costs. At the same time, you retain some protection in case temperatures unexpected warm-up for a day or two and you have a chance to take your bike for a quick spin around town. Raising the deductible on your policy can also help in reducing insurance costs.

Don’t forget to revert to your original coverage when you’re ready to hit the road again in the spring so you’ll have the full protection you need for city riding or long-distance travel.  

Comprehensive Protection

Putting your bike in storage doesn’t make it impervious to all risks. Depending on the safety of your storage unit, your bike could still be prone to theft, fire damage, storm damage or vandalism. By maintaining some level of comprehensive insurance, you can safeguard your bike against these risks. Dropping your coverage altogether puts you at risk of paying for unforeseen damage out-of-pocket.

To learn more about off-season coverage for your motorcycle, call or visit 1st American Insurance Agency in Longmont, CO today. We’re here to meet all your motorcycle insurance needs.

How Commercial Insurance Protects Your Profits

Your business is likely the bread-and-butter of your finances. Even if it’s a side hustle, you have likely begun to rely on that extra income. If you’re considering either switching your commercial insurance or purchasing a new policy, 1st American Insurance Agency would like you to have a better idea of how commercial insurance can protect you and your livelihood. 

You Have a Backup Plan 

A solid insurance policy gives you a way out of countless sticky situations. What happens if you can’t open your business in Longmont, CO for several months because of structural damage? Can you operate from home? Can you sell the same stock online? Is your stock still intact after the damage? You can purchase insurance that will not only help you reopen the shop after making the repairs, but also replace the lost income that you weren’t making during the time of the repairs. 

You Get Answers 

When you find someone who can help you during the worst possible events, you have a way to plan ahead. The right insurance partner can give you the advice and the warnings you need to make better decisions — something that’s difficult to do when panic sets in. So if a customer decides to sue for three times what the business is even worth, you can consult an expert about how to take the next steps. These kinds of perks can preserve profits because they help owners prepare for the worst. 

If you want to learn more about which policies do what for you, call 1st American Insurance Agency today. We help the people of Longmont, CO get a better handle on how to keep their business from financial ruin. Instead of purchasing the bare minimum, call us for quotes and learn more. 

The Basics of Recreational Vehicle Insurance

Here at 1st American Insurance Agency in Longmont, CO, we want you to enjoy your time on the road and on vacation. That’s why we want to make sure you have the recreational vehicle insurance you need to meet the insurance requirements of the state of Colorado. Like all the other states in the US except Hawaii, the state of Colorado requires vehicles on its roads to carry insurance. You probably already carry automotive insurance. Colorado requires the same level auto insurance for RVs as for your truck or car.  You will need at a minimum the following policies:

  • bodily injury liability (BI) of $25,000 per person and $50,000 per accident for bodily injury,
  • property damage liability (PD) of $15,000 per accident,
  • uninsured/underinsured motorist (UM/UIM) of $25,000 per person and $50,000 per accident for bodily injury.

These coverages ensure that you will be able to pay for damages to another person’s vehicle when you cause an accident and that you will be able to pay for their medical costs. The uninsured component means that when you are hit by a motorist who does not carry insurance or does not carry enough to cover your damages, you can pay for it yourself through insurance. This insurance covers your medical bills and it covers your vehicle damages.

You might also want collision or comprehensive insurance for your RV. It is a huge investment to purchase a recreational vehicle. It makes sense to protect it.

At 1st American Insurance Agency, we understand how confusing insurance can be, especially if it is your first time purchasing it. We want to make the process easier. Our insurance agents will happily sit down with you and review your needs. We can help you determine what level of coverage you really need because sometimes the minimum just is not enough.

Umbrella Insurance Is a Plus for Small Business Owners

Does your small business in Longmont, CO need umbrella insurance? You may think that this type of insurance coverage only benefits larger companies with a high net worth, but that’s simply not the case. The truth is that any business may run up against a lawsuit or some type of disaster situation at some point. This is why it’s helpful to seek the services of an insurance company like 1st American Insurance Agency. 

What Is Umbrella Insurance?

Umbrella insurance is an added protection to your existing insurance policy. Since there can be holes or limits in your regular commercial insurance policy, it’s ideal to have something in place that will help cover that. For instance, it offers liability protection in the instance that your company gets sued. If you are found to be at fault for a customer’s injuries or there’s some other legal issue that arises, you’ll want to have financial protection so your business does not go under. 

In addition, umbrella insurance may cover areas that a conventional insurance policy does not cover. However, you almost certainly will have to pay some sort of deductible for your umbrella insurance, which varies on the insurance company. 

Amount of Your Umbrella Insurance

The amount of umbrella insurance coverage you need depends on your company’s assets. Since the assets will determine how much is at stake in a lawsuit, it’s important to take out an insurance policy that has a maximum coverage that is appropriate to your business’ needs. For a smaller business, this likely is a lower amount.

You want to protect what you’ve worked hard to build with your small business. If you have questions, concerns, or would like to sign up for commercial umbrella insurance, reach out to 1st American Insurance Agency of the Longmont, CO area today. 

 

 

How Do I Pick the Right Commercial Insurance?

You have a business plan. That’s great! Longmont, CO, is still a wonderful place to be a business owner. But, if you want to succeed, there is definitely a little paperwork in order. One item of business you shouldn’t avoid is commercial insurance. The right policy is the difference between lifelong business success and a short, unsatisfying run. That’s why 1st American Insurance Agency is here with some easy advice to simplify the process.

Understand the Big Three

Commercial insurance typically is intended to cover three things regarding your business: property, workers, and liability. Property can include a storefront, office or other location. It can also refer to vehicles and any assets worth insuring that are owned directly by the business. Insuring workers usually means workmen’s compensation and other medical-related coverage. Liability is pretty much what you expect. This is the insurance that protects you from lawsuits against the business.

Balance the Sheets

So, considering the three aspects of coverage, choosing the right policy is a matter of balancing costs and needs. It might sound boring, but good business practices are all about balancing numbers. Your goal is to get enough coverage for each issue that you won’t worry about a single disaster sinking the whole business. For workmen’s comp, state laws are usually a good guide. For liability and property insurance, those are both largely determined by the value of your assets. If your business is worth $10 million, you don’t need a policy that covers $100 million. You get the idea.

Shop Around

Still, making sure you are getting the best deal for the coverage you need can be tricky. The best way to simplify the process is to let your 1st American Insurance Agency representative do the heavy lifting. They can help you evaluate your assets and find the best deals by shopping around for you. They love helping businesses in Longmont, CO, so why not let them help you too?

Motorcycle 101: What Is Collision Coverage?

Now that you’ve purchased your new motorcycle you probably can’t wait to gear up and hit the road to experience all the beautiful scenery the Longmont, CO area offers. But, before you plan your first San Juan Skyway to the Black Canyon Run, you need to meet with an experienced motorcycle insurance agent to discuss your personal coverage needs. Purchasing insurance can be confusing, especially when there are different coverages to consider. Here’s some information you’ll need to know about your new 1st American Insurance Agency Collision coverage policy. 

What Is Motorcycle Collision Insurance?  

Collision and comprehensive insurance coverage are two different parts of your motorcycle insurance policy.  While each type will help pay to repair or replace your motorcycle if it is damaged in a qualified claim, collision insurance covers separate types of risks than your comprehensive coverage. 

What Does Motorcycle Collision Insurance Cover? 

If you or anyone on your collision insurance policy is in a collision that results in your bike being damaged by another vehicle or an object like a fence or a tree, your collision coverage will help pay for repairs. Comprehensive motorcycle insurance will help cover your motorcycle if it is damaged or lost in an event in an event that does not involve you or a covered rider being in an accident. Neither collision nor comprehensive insurance will pay for any damage you cause to another person, vehicle, or object. 

Am I Required By Law To Carry Collision Motorcycle Insurance? 

No, you are not required by law to purchase a collision insurance policy for your bike in Longmont, CO, nor are required by law to carry comprehensive insurance for your motorcycle. You are required to carry liability insurance to cover third-party injuries and any property damage you cause if you are deemed responsible for a collision while you or a covered party are riding your motorcycle. 

While you aren’t legally required to purchase collision, comprehensive, or any other type of insurance policy for your bike besides liability, if you want your bike to be covered for losses, it’s a smart choice. Call or come by 1st American Insurance Agency today to speak with an agent about designing the perfect motorcycle coverage for your special needs. 

Colorado insurance requirements for RVs

Owning an RV is a great way to see the beautiful landscapes surrounding our great state, but many Longmont, CO area residents aren’t exactly sure what the insurance requirements are for their recreational vehicle. If you want to make sure that you have the coverage you need before you hit the road, the team at 1st American Insurance Agency is here to help. We want you to enjoy your summer without having to worry about having the appropriate coverage. Come stop by, and we can get you road-ready in no time!

Colorado insurance requirements for RVs

Insurance requirements for RVs in the state of Colorado can vary depending on the type of vehicle you have. You will need a comprehensive policy, but the details are different across a few different RV types. For example, if your RV is self-propelled your policy will differ from that for a trailered vehicle. There are also different requirements if you use your RV as housing, say for example you stop at campgrounds and RV parks during your travels. There are state regulations that cover many different scenarios and it makes sense to sit down with a local agent who is knowledgeable about all of your options. Anyone who uses their RV as a sleeper camper and invites passengers or other guests to use the vehicle as accommodation will want a higher level of liability insurance.

We know you can’t wait to get out on the open road and explore our beautiful country! Before you get started, make sure you’ve got the coverage you need. Call or stop by the office of 1st American Insurance Agency today and let us help you protect your RV this summer. We provide friendly and professional insurance services throughout the greater Longmont, CO area. 

How Do I Select the Right RV Insurance Policy?

There are several things to consider when selecting an RV insurance policy. All these factors take into consideration the type of RV you are ensuring, how you use it, and what your current and future plans are. You will need to choose the right balance between affordability, coverage, and deductibles. Of course, this includes the type of RV you have, how often you use it and who you use it with, The right RV policy will adequately cover all of these details. 

What are the First Things to Consider

When deciding on an RV policy, start with the RV itself. If you own a luxury RV it will cost more to repair it. You need a policy that can adequately cover the repairs. If you’re leasing or financing an RV, more than likely the financer will require you to have insurance to cover the RV and any repairs that may be needed in the event of an accident or total loss. More coverage should be purchased to cover higher costs. 1st American Insurance Agency serves Longmont, CO and is committed to helping RV owners get the right RV insurance to fit their needs, preferences, and recreational vehicle.

Specialized Features

If your RV has customized permanent features you may want to consider purchasing an RV policy that will cover these features. An RV policy that includes the coverage of Permanent Attachments would insure permanent attachments for the full value of what it would cost to replace them as opposed to the depreciated value. This may be well worth it if you have expensive custom features in your recreational vehicle.

Total Loss

You may also want to consider purchasing RV insurance that covers a total loss as well as theft. In the event of some unforeseen circumstance that renders your RV damaged beyond its value or stolen and not recovered, you may want to invest in insurance that would cover its replacement or at least give you back what you paid for it. Of course, how much you’d get as well as what you’d get would be dependent on the age of your RV. However, an RV policy that would cover loss and theft is sure to create more peace of mind and protect your financial investment. 

Selecting the right RV insurance policy requires you to closely examine your RV, finances, TV lifestyle, needs, and preferences. Use logic and select coverage levels that are commensurate with your RV and its current and future use. IN some cases, certain coverage levels may be a requirement if you are leading or financing a recreational vehicle. However, true peace of mind will come from investing in an RV policy that adequately meets the needs of you and your RV.