Everyone knows that it is vital to protect yourself by carrying adequate insurance. You need insurance for your home, business, and automobile just in case you suffer a loss that you won’t be able to pay for out of pocket. It is particularly important when you have a small business, as you have a lot of your life invested in your business. When you purchased your general liability insurance policy, you knew it would protect you from property damage, bodily injury, and even advertising injury claims. If you live in Lakewood, CO and are worried whether your policy limits are high enough, a representative from Premier Group Insurance can talk to you about your concerns and some possible other options.

Umbrella insurance can help you get covered by providing additional coverage in case you end up owing more than your policy allows. Your limit on your umbrella insurance policy will be much higher and can supplement your other insurance policies, including property and auto insurance. It will also help you by providing additional coverage for general liability claims, such as property and bodily injury claims. 

Owing more money is a real danger if you end up being a defendant in a lawsuit. Your umbrella policy will cover all your legal damages up to the policy limit. You can even recover legal fees, and be covered for false arrest, slander, and libel.

If you have an umbrella insurance policy, your protection will kick in as soon as your other insurance reaches its limit. Your legal defense will be paid, even if you are found not liable in the lawsuit. Your insurance company will even pay if there is an agreed settlement amount, up to the limits of the policy. If you would like to receive this crucial additional coverage in Lakewood, CO, contact Premier Group Insurance today. Our agents are ready to help you get started.

Home insurance is something that we should all have even if you have paid off your home and are not required by your lender to do so. Home insurance is also something that may not cover all the risks that are presented to your home. For those in the Colorado Springs or Lakewood, CO area, the agents with Premier Group Insurance can help you to find the right policy for you.

Do I Need Flood Insurance?

Flood insurance is often seen as a supplementary policy that not all homeowner’s need to have in place. The reason for this is that floods are not something that all homeowner’s have to deal with or have to even worry about. Some homeowner’s do not see enough rain or enough water in the course of a year to warrant an extra flood policy while others have to deal with the potential for flood every single day.

Flood insurance as a rule is not mandatory and is also considered to be an extra coverage that will add cost to your policy overall if you do decide to take out a policy. It is important to know if you live in a high-risk flood zone and should prepare accordingly. Although you may not live in a flooding area, it is also important to check and see what the history of flooding in the area might be like. A good portion of flood claims come from areas that are not in flood plains.

For those that feel they may need a flood policy, taking the time to talk with an agent will make a huge deal of difference in the overall success of your homeowner’s policy. For those in the Colorado Springs or Lakewood, CO area, the agents with Premier Group Insurance can help you to find the right policy for your needs quickly and easily so that you can stop worrying about floods and other disasters that may damage your home.

Life insurance is meant to give someone financial assistance in the event of someone’s death. This person is called a “beneficiary,” and he or she is chosen by the person listed on the policy. Many factors determine what type of coverage you may need, and the same is true with the amount as well. Be sure to speak to an agent to get some professional advice on what type of life insurance you need as well as on the amount.

Types of Life Insurance

There are two types of life insurance policies, and each one has its advantages and disadvantages. You should choose one that will best suit your needs, and it should fall within your budget. The two types of life insurance policies are:

• Term Life Insurance – Covers you for a certain number of years, and it will only pay the death benefit if it happens within that term. While the premiums for term life insurance can be lower, they don’t build up any cash value over time. Also, you may not be able to renew them at the end of the term.
• Whole Life Insurance – While their premiums can be higher, whole life policies will give you lifetime protection. And in some cases, they can build up cash value while the coverage is in force.

If you want to find the best policy for your specific needs, please be sure to contact Premier Group Insurance in Lakewood, CO today!

What Determines Life Insurance Premiums

Many factors can determine the cost of life insurance, and it’s not just about the amount or type of policy that’s being written. Your age is an important factor, and your health can play a significant role in how much you will have to pay or whether you can get covered at all. If you have a pre-existing condition or any chronic illness (like diabetes or high blood pressure), you might not be able to get a life insurance policy. And the same can be true if you participate in any dangerous activities (such as skydiving or rock climbing).

Smoking or excessive drinking will raise your premiums, especially if you were engaged in these activities in the past five years. You should talk to an insurance agent so you can find a policy that’s best suited for your specific situation, and Premier Group Insurance has a team of people who can help you. If you live in Colorado Springs, Ft. Collins, or Lakewood, CO, and want to get an affordable life insurance policy, be sure to contact our office today!

The answer to whether or not you are required to have commercial insurance for your business is not as straight-forward as it may sound. It depends on the type of business you own, and how you conduct your business. Learn more about this complex form of insurance from Premier Group Insurance. 

The Bare Minimums 

If you are planning to hire employees, you’re required to have some form of workers’ compensation (which falls under the commercial insurance umbrella.) For business owners in Colorado Springs and Lakewood, CO, they need a way to protect their workers from any injuries that may occur when they’re on the premises. Injuries can range from a broken foot when a stray piece of office furniture was left in an aisle to chronic back pain after sitting in the wrong chair. If you have a car, then you’re required to have commercial auto insurance for that vehicle as well. However, successful business owners know they need to do more than just the bare minimums to get by. 

 Additional Factors 

It may not be required for you to have coverage to cover your physical property (e.g., office electronics, furniture, etc.), though that doesn’t mean that you should leave your expensive equipment to chance. Also, if you choose to rent your property, you may be required by the landlord to have commercial property insurance, depending on their leasing requirements. Finally, if you’re planning to deal with customers, you should likely have some type of liability insurance in case of injury or product malfunction. 

Premier Group Insurance serves the business owners of Colorado Springs and Lakewood, CO, and we’re here to help you too! Call us today if you’re looking for more information about the best possible type of commercial insurance for you.