If you’re a Lakewood, CO resident and own a boat, whether it’s an impressive yacht or something less extravagant, you’re likely quite proud of your purchase. Part of being a proud boat owner is taking care of your boat and ensuring it remains in tip-top condition. One way to ensure it remains in optimal condition is to obtain adequate insurance coverage, but how do you know you have the best coverage for your boat? Here is an overview that could help.

Do You Know Your Boat’s Value?

If you don’t know your boat’s value, it’s nearly impossible to ensure you have the best coverage possible. Finding its value doesn’t have to be a challenge, as you could have it professionally appraised or use the many online calculators to help you determine its true worth. Once you know its value, you can make sure that your insurance coverage is adequate. If your boat is damaged or destroyed, you will receive a fair amount to repair or replace it. 

Do You Have Passengers on Your Boat?

Suppose you ever have passengers on your boat. In that case, you will want to ensure that you have liability insurance that will cover medical treatment and more in the unlikely event of injury. The state of Colorado requires that you have this coverage just in case an accident occurs and someone sustains injuries. Also, if a passenger ever sues you, your insurance can pay any damages, so you won’t be forced to pay out of pocket. 

If you’re a Lakewood, CO resident seeking a new insurance provider, you might want to consider us at Premier Group Insurance. At Premier Group Insurance, we treat our customers with the respect they deserve. We also provide excellent coverage at affordable rates, so give us a call today for a quote.  

Many Lakewood, CO residents get umbrella insurance policies to protect themselves against liability lawsuits further. These policies often come with terms that aren’t in some other, more common insurance policies. One example is self-insured retention.

Self-Insured Retentions in Umbrella Policies

Self-insured retention refers to the amount of loss that a policyholder must bear before their umbrella insurance policy begins to pay. It’s the portion of a claim you’re responsible for covering out of pocket before your insurance coverage kicks in. 

This differs from a standard insurance policy deductible, which is typically a smaller amount and applies to each claim. A self-insured retention is generally larger, and a single retention may apply to a series of claims filed against the policy.

Self-Insured Retention in Action

For instance, if a Lakewood, CO business has an umbrella policy with a SIR of $10,000, it means that the business must pay the first $10,000 of any claim or series of related claims before the umbrella policy provides coverage. 

The retention amount can vary greatly depending on the policy and the insurer.

Get Help With an Umbrella Insurance Policy

For a detailed understanding of how self-insured retention might affect your umbrella insurance policy, contact us at Premier Group Insurance. Our team of agents at Premier Group Insurance has helped many residents get the liability coverage they need. We’ll walk you through self-insured retentions and all other facets of umbrella insurance policies to get a policy that’ll provide the protections you need.

Life insurance is something that many people don’t take seriously until they reach a certain age. Regardless of your current age, if you’re considering purchasing a life insurance policy, you’re wise. A person can never predict when they might become sick or incur an injury that ends in death, so it’s good always to be prepared. However, finding the right life insurance can be a challenge. Are some types of life insurance better than others? Here is an overview that can explain things.

Types of Life Insurance

There are several different types of life insurance plans, and these different types are term, whole life, burial life insurance, and universal life insurance, among others. It’s best to determine your personal needs before making a choice. If you’re a 19-year-old female, then you will likely choose a different type of policy than a 58-year-old male, as your needs would be different. 

Which Type of is Better?

The type of life insurance that is better depends on what you’re looking for. If you’re looking for a basic life insurance policy, then a term life insurance policy might be your best bet. Term life insurance plans are policies that last a specific length of time, and if the insured passes away during that period, then benefits are paid out. However, there are so many other choices to choose from. If you’re unfamiliar with them, a qualified insurance agent can answer all your questions and help you understand the differences.  

So, if you’re interested in receiving a quote for life insurance, you should consider Premier Group Insurance. At Premier Group Insurance in Lakewood, CO, we offer life insurance, among various other types of insurance, as well. We have been providing insurance coverage to many satisfied customers for years, and we’re ready to provide that same coverage to you. We serve the Ft. Collins and Lakewood, CO area.

Small businesses make up more than 99% of all companies, which in the US is defined as a business with fewer than 500 employees. That is quite large compared to what other parts of the world consider small business. In Europe, it is under 50, and in Australia under 15. At Premier Group Insurance in Lakewood, CO, we know how risky owning a small business can be, and we work hard to ensure that all our customers have as much insurance protection as necessary. 

Commercial liability coverage 

Being sued is all too common for small businesses. It can cause a great deal of stress, time, and money to deal with legal action against you. It can also damage your reputation, and in a severe case, it can put you out of business. Having the right commercial insurance can help you to survive most legal action against your business. 

Commercial property insurance

When a peril hits your small business, it can mean that you cannot conduct business until you can rebuild. If you don’t have commercial property insurance, how can you replace all the things you have lost? It might be enough to put your business out of business. Commercial property insurance allows you to replace all the things lost to the peril. Depending on your business, it may be things like machinery, office equipment, inventory, tools, etc. 

Business interruption insurance

When covered peril hits your business, you may be unable to do business. Even though your income has dried up, your expenses continue to add up. This insurance can help to pay your expenses until your business is back up and running. 

Contact Premier Group Insurance in Lakewood, CO to discuss your commercial insurance needs with our knowledgeable team. 

Premier Group Insurance knows that Lakewood, CO, residents love their outdoor pursuits. This mid-sized town outside of Denver features multiple lakes and reservoirs for watersports and tourism, so many people in the area own jet skis and Seadoos.

Recreational Insurance Coverage

When you purchase your recreational insurance initially, we’ll ask you to list all the equipment and transportation you want it to cover. You’ll need to list each boat, jet ski, Seadoo, ATV, dune buggy, etc., that you want the policy to cover.

We’ll also need the value of each when you purchased it, so you should provide a copy of your purchase receipt. If you received it as a gift, print the product page from the manufacturer’s website that shows the manufacturer’s retail price.

What to Do When You Buy New Equipment

It would be best if you let your insurance agent know when you purchase another Seadoo or jet ski. We’re not nosy. We need to add that equipment to the list of items covered on your recreational insurance policy. Not every item causes your premiums to go up, but your premiums will increase if you purchase something big like a pontoon boat or a yacht.

Contact Premier Group Insurance Today

Contact Premier Group Insurance today to insure your recreational equipment used in Lakewood, CO. Enjoy the area’s lakes but insure your ATVs, boats, and other motorized toys first. Recreational insurance covers liability and your equipment’s value, so don’t skimp on it. Fully insure your recreational toys today.

Preparing your motorhome for a storm here in the Lakewood, CO area is essential to maintaining your vehicle and ensuring it remains in good condition. Here are some tips from us at Premier Group Insurance to help you get ready for the upcoming storm season: 

1. Check all seals, doors, windows, and roof vents for any signs of wear or damage. These need to be sealed up properly before the storm hits to prevent water from leaking into your motorhome. 
2. Inspect all hoses and connections outside your motorhome to ensure they are secure and in good condition. Damaged hoses can become clogged during a storm and cause water to back into your vehicle, so replace any worn or damaged parts before the storm arrives. 
3. Ensure that all items inside your motorhome are adequately secured so they don’t shift around during strong winds or heavy rains. Things like cabinets, chairs, and drawers should be strapped down with bungee cords or other fasteners to keep them in place during the storm. 
4. Cover any exposed windows with plastic sheeting or boards to protect them from damaging wind-blown debris. If you don’t want to do this yourself, ask an authorized repair shop if they offer this service as many do. 

By following these tips, you can help ensure your motorhome is ready for whatever Mother Nature throws! For more information, give us at Premier Group Insurance a call today. We proudly serve the Lakewood, CO area and would be happy to help you find a policy that suits your needs and budget.

When Your Vacation or Permanent Housing is Highway-Ready

As you can imagine, RVing is popular in the beautiful state of Colorado. The DMV even has its own RV to bring services closer to people all over the state! Liability insurance is required of RVs and other vehicles to ensure that the damage the vehicle is involved in is covered. There are a couple of specific concerns that you’ll want to cover with us at Premier Group Insurance in Lakewood, CO. One is the exact coverage that you need according to the state for RVs and travel trailers, and the additional coverage that’s wise to protect yourself, other drivers, and any assets these people may have.

Who’s Covered with RV Liability?

Colorado requires the same basic coverage as automobiles and SUVs for RVs and travel trailers. In addition, the people you authorize to operate these vehicles are covered in the same ways, with specific concerns about whether they have their automobile insurance policy and are family members. Since the licensing requirements are similar or the same for RV driving in most cases, they’re already ready to go, just as they would be if they rented one for themselves.

Special Cases Such as Class A RVs

You’ve probably seen bus-style RVs which look similar to commercial long-distance buses on an enormous, heavy chassis, some costing well over a million dollars. They’re great to tour at convention center shows! Some of them exceed the 25,000-pound weight limit that puts them in Class A and leads to CDL or commercial driver’s licenses and other requirements. Your child, neighbor, or friend isn’t automatically authorized for these. Call Premier Group Insurance in Lakewood, CO to customize your family RV coverage today!