Do I need to buy flood insurance even if I don’t live in flood zone area?

Colorado is not new to harsh weather, particularly floods. Residents in Erie, CO, and other parts of the country are required to buy flood insurance to protect them from financial losses caused by floods. Advantage Service Insurance recommends inquiring about the level of risk from the National Flood Insurance Program (NFIP).

Who should buy flood insurance? 

The question of whether you should buy insurance or not heavily depends on two things:

  • Whether your home is bought through mortgage and you live in a high-risk flood zone. In this case, your lender will require you to purchase flood insurance.
  • If you live in a flood zone area or NFIP has marked your area as high risk or if your zone is marked D because it hasn’t been mapped yet and therefore not clearly known if it is high risk or not.

Natural disasters do not always cause floods.

Always keep in mind that flooding can come from anywhere, including your neighbor’s overflowing creek. Therefore, whether you have the option of buying it or not, the most important thing is to ensure that you are mentally, physically, and financially prepared to handle any water damage in your home.

What you should know about flood insurance

It only covers damages caused by water that fell from the sky and entered your home and compound. That means that damage caused by your tap can only be covered under home insurance. However, if the same rain caused the creek in your neighborhood to overflow and run into your home, flood insurance can cover the damages.

Floods are natural disasters that can wreak havoc in a matter of minutes—assessing and understanding what to do plays a significant role in recovering and getting things back to normalcy. If you still need advice on flood insurance, Advantage Service Insurance is here to help. Visit our Erie, CO offices, and we will help with all the information you need.

Tips for new condo insurance holders

Living in a condo comes with several benefits. You don’t need to worry about buying coverage for the entire building and its components. However, many condo owners are never sure about how much coverage they need to buy to protect both personal belongings as well as their loved ones. At Advantage Service Insurance serving Boulder and Erie, CO, we recommend understanding the policy before making any purchase. If it is your first time buying condo insurance, here are a few tips to help you get it right.

A little research won’t hurt

Before you begin your shopping, you may need to understand the different terms used in the condo insurance industry. This way, you stay ahead of your insurance company. Learn the ins and outs of the coverage options offered and their requirements.

Shop around for the best deals

Insurance companies have different quotes, regulations, and techniques when calculating your condo insurance policy. Checking with a few of them to compare prices and coverages helps you get the most out of your insurance. Consider asking various questions and see how the agents respond to them. This will guide you on which companies to trust and which ones to drop.

Cheap is expensive

When it comes to condo insurance, it is essential to understand that cheap is expensive. Don’t go for the most affordable option in town. Cheaper policies are problematic as they lack crucial coverages. You may end up digging in your pockets to finance repairs and replacements in case of damage in your condo. If you have valuable or priceless items in your condo, like jewelry or artwork, you may need to buy extra coverage for them because your standard condo insurance may not be adequate to cover them entirely.

Condo insurance, like home insurance, is an essential way of organizing your finances. Condo insurance protects you, your loved ones, and your belongings from perils. Secure what is important to you with condo insurance, and our team at Advantage Service Insurance in  Erie, CO will be happy to assist you.

What you need to know about Colorado auto insurance

Most people that live in the Erie, CO area will need to have a car to get around town. If you drive a vehicle in this area, ensuring that you have proper insurance coverage is very important. There are several things that you need to know about Colorado auto insurance when you are shopping for your next policy. Knowing more will help you when choosing the right type and level of coverage. 

Required by Law

One thing that you need to know about Colorado auto insurance is that it is required by law. Everyone in Colorado is required by law to comply with the minimum liability insurance requirements. Drivers need to have this to ensure they can pay for damages that they cause in an accident. If you are caught driving without this form of insurance, you could be penalized.

Minimum Does Not Cover Your Car

While you are only required by law to carry liability insurance, it is important to know that this does not cover your vehicle. If you would like to have your vehicle covered in an accident or if it is stolen or otherwise damaged, you need a full collision and comprehensive insurance policy. Those that would like to be able to repair or replace their vehicle with insurance proceeds should get the full policy. 

Picking an insurance policy in Colorado is an important decision. When you are looking for a new insurance policy, you should call the team at Advantage Service Insurance in Erie, CO. When you call Advantage Service Insurance, you can be assured that your car will be appropriately covered as we will find you a policy that adequately protects all of your insurance needs and risks. 

Business Owners: Commercial Insurance With Your Success

Successful leaders of businesses are known to have a lengthy list of excellent contacts. Those leaders are probably good at building relationships that help with company growth and additional success. Strong leadership is also a nice way to find outstanding employees and create an impressive reputation for excellent customer service. Good communication also helps with promotions for a company’s products or services. Successful growth with the expansions can be a good reason to celebrate for the business leaders. With this success, businesses may consider their current coverages for commercial insurance. Serving Erie, CO, Advantage Service Insurance is experienced working with successful business leaders and helping with any requests for commercial insurance.

Our insurance company is available to discuss everything from expansions of your business to employee hiring. Business property insurance is also smart to consider for a company with proper planning for any product storage or placements of business assets. Commercial insurance for your success is useful for planning, and this can be helpful for new start-ups or expansion efforts. Rental payment insurance could be an additional consideration with any additional business locations and lease agreements. Our qualified staff can walk business leaders through coverages for workman’s compensation and commercial umbrella insurance.  

Healthy relationships are an excellent way to build businesses with company growth as a smart focus. Having useful business contacts is an intelligent approach to being successful as a company. Commercial insurance can include general liability coverage for companies providing products, services, or possibly both. You can contact our insurance agency for more information. Successful businesses are strong in Erie, CO and Advantage Service Insurance has a trained staff ready to answer any questions you may have about commercial insurance. Visit our agency by e-mail or call our office for customized quotes.

First Time Homeowners: Preparing for Your Move

The excitement for first-time homebuyers can be one of the best when celebrating a critical achievement and starting the path to building wealth with a real estate investment.  This accomplishment should be enjoyable, and your new home should be a big reason to celebrate. Your selection for homeowners’ insurance is probably part of the process, and this should be a simple step. Advantage Service Insurance and our agents in Erie, CO would be proud to help you with this part of becoming a first-time homeowner. With smart planning, getting ready to move is the next big step as you prepare to move into your new home.

Preparation is vital for moving into a new home. Deciding which belongings will go in each area of the house can be fun and enjoyable. Smart planning can also make unpacking more manageable, so you find yourself with less work to do when the time comes. Labeling your boxes and categorizing what goes in each can make the process easy and allow you to plan out which box goes to which room. This also comes in handy when you want to unpack certain things, such as your kitchen, first.

There are probably several things you want to do as you arrive at your new place. Unloading everything can be easier when you walk through the planning a few times. Also, know that your homeowner’s insurance was carefully selected and handled with the help of agents from a reliable insurance agency. Contact Advantage Service Insurance in Erie, CO for more information or to get a customized quote.