Does Condo Insurance Cover Personal Belongings?

If you live in a condominium, you may wonder about the right kind of insurance policy for your needs. You’ll want to get a quality condo insurance policy, so you can have the protection that’s right for your living situation. If you’re in the Erie, CO area, Advantage Service Insurance can help you choose the policy that’s best for you and meets your needs. Whether you’ve lived in a condo for a long time and want to make some policy changes or you’re brand new to condo living and have questions, we’re here to give you the information and assistance you need.

Condo insurance is much like renters insurance in that it covers the personal property of the resident. It doesn’t cover the structure, which is the condo association’s responsibility, or the company that owns the actual building. You’re not responsible for anything outside of the interior walls of your unit, and the right insurance policy will make sure everything in your space has the protection it needs. Then you can have great peace of mind and not spend any time worrying about the property that’s in your condo. It’ll be covered as long as you keep your policy updated and in force.

If you’re in or around the Erie, CO area and you’re looking into a condo insurance policy, Advantage Service Insurance can help. We understand that it’s not always easy to be sure you’re getting the right coverage. But our trusted agents are here to help you make a good choice. Reach out to us today, and we’ll give you the information you need so you can choose the right insurance policy for your new condo adventure. Condos can be excellent choices for convenience and comfort, and that’s even better with the right policy protecting what matters to you.

When To Make Auto Insurance Changes

Auto insurance is one of your most important expenses each month. Not only is auto insurance crucial to protecting your car and other drivers, but it is often necessary to operate your vehicle legally. Auto insurance coverage and needs can change over time, though. At Advantage Service Insurance, serving Erie, CO, we know that you need the best insurance information to make the best insurance choices. Keep reading to learn more about when you should make insurance changes. 

Getting Married

If you are getting married, you and your future spouse should discuss how you will organize your insurance coverages. Will you combine coverages into one policy or maintain separate policies? Most insurance companies offer discounts for married couples, not to mention the simplicity of dealing with just one payment each month. 

Buying a New Vehicle

If you plan to buy a new vehicle, you will want to consider how your insurance coverage will change. Coverage costs and types can change depending on the type of vehicle you purchase. You will want to research insurance changes that will affect your new budget once the car is purchased. If you are financing the new car, most lenders require that the vehicle have coverage before finalizing the sale. 

Adding a New Driver

If you have a teen in your house who is ready to drive, you may be required to add them to your insurance coverage. To find out exactly when is the best time to add them, you should talk with an insurance representative. Some companies also offer discounts for students with good grades. 

If you would like to learn more about auto insurance, please contact our office at Advantage Service Insurance, serving Erie, CO. We will be happy to answer your questions. 

Introduction to the Business Owner’s Policy

A BOP protects the business with four types of coverage rolled into one package. It provides a reduced premium rate for the coverage over purchasing the four policies separately.

If you own a business or want to start a business in Erie, CO, you will need a business plan, a marketing plan, and insurance. Most businesses start with a business owner’s policy. This provides the four most typically purchased policies in a bundle. This provides all four policies that would typically be needed at a reduced premium.

At Advantage Service Insurance, we want you to understand why you need a BOP fully. It saves you money, and you obtain the protection you need for liability, property damage, peril, and business interruption. Regardless of your type of business, you need a BOP since it provides the baseline protections and risk reductions.

Once you obtain the BOP, you customize it with other policy types, including commercial auto or inland marine insurance. This provides the appropriate protection that your specific business needs.
The policies you add to the BOP will differ from your neighbor’s ones to their business policy. Your neighbor might own a dry-cleaning service that requires inland marine insurance, while you might need malpractice insurance because you are a dentist. The BOP policy provides the basic coverage at a reduced expense than buying each of the policies separately.

Your customization lets you address your business risk needs while another business addresses its needs in a vastly different way. The BOP may be the only policy you have in common, but you both carry commercial insurance. More than ten types of business insurance exist, so you should consult with your insurance agent at Advantage Service Insurance, serving Erie, CO, before purchasing.

How much home insurance do you need?

Your home in Erie, CO is one of your biggest investments. Not only does a substantial portion of your income go towards the upkeep of your residence, but your home is also a safe place for you and the family. There is little worse than experiencing an incident that threatens the comfort of your safe place. The Advantage Service Insurance agents can help you determine how much home insurance is needed to get you back on your feet when the unimaginable becomes your reality. 

Why is home insurance necessary?

There is no state law requiring you to show proof of home insurance. However, those with mortgages may find their loan carrier requires home insurance that, at a minimum, protects the structure. You may consider buying more insurance if you have personal assets in need of protection. 

Some do not see the urgency of having home insurance. It is important to understand the financial grievance that comes when you do not have a good policy. You are financially responsible for all damages and injuries involving your home, regardless of whether you have an indemnity plan. 

Some incidents cost thousands to correct, which means you must find a way to pay for expenses out-of-pocket. Many homeowners cannot afford to pay for relocation and repairs after an incident. Home insurance can help relieve the financial burden during times of distress. 

How much home insurance do you need?

The amount of home insurance you need largely depends on your lifestyle preferences and how much you are willing to pay in monthly premiums. You may find that more expensive premiums lead to more coverage in an incident. Meanwhile, those who choose to pay less in monthly payments may need to set aside more events. 

The agents at Advantage Service Insurance can help you craft the ideal home insurance plan for your house in Erie, CO. Call today to get started with a quote!

How Classic Car Insurance Protects Your Ride

If you have a classic car, you know it’s different from a standard vehicle. The way it’s constructed, the ability to get parts, the effort that’s gone into building and restoring it, and so much more all matter. It also needs to be properly insured, and classic car insurance isn’t the same as what you’d get for a standard car, truck, or SUV that’s made today. At Advantage Service Insurance, we can help customers in the Erie, CO area get the proper insurance for their classic cars, so they know they have adequate protection. We can help you, as well, so you can enjoy your classic vehicle without worrying about whether you’re covered.

Insurance for classic cars protects your ride by making sure you can replace or repair it if it’s stolen or in an accident. The effort it takes to do can be considerably more than the effort it would take to repair or replace a typical vehicle. Because of that, this kind of policy is written to ensure that you have adequate coverage for the exact year and type of classic vehicle you have. If something goes wrong, you’ll be able to work toward rebuilding the vehicle so you can get back on the road and start enjoying it again.

Contact us today at Advantage Service Insurance for your classic car insurance needs if you’re in the Erie, CO area. We can help you get what’s needed to drive your classic vehicle, display it, take it to car shows, or use it however is most important to you. Then you can appreciate the peace of mind it offers and focus on the enjoyment you’re getting out of it. Part of the joy of a classic car is having something unique and different from what’s normally seen today, and protecting that is a big part of appreciating it.

Does Motorhome/RV insurance cover my trailer?

Advantage Service Insurance, serving Erie, CO, wants you to understand your motorhome coverage and what it protects so you get no surprises if you need to file a claim.

A motorhome policy covers more than an actual RV. You might expect an RV policy to work as an auto policy, but it doesn’t. An auto policy covers your personal property inside the vehicle, but an RV policy also called a motorhome policy, does not. You need to add personal effects insurance to cover your personal property you transport in the vehicle.

You may not need an RV policy for your trailer you tow or a popup trailer because your auto insurance does cover it. You might want a policy, though, because your auto insurance won’t cover it fully. 

You also may have to carry a policy for it if you obtained a loan to purchase it. The same is true of any size RV. If you obtained a loan to purchase it, the bank typically requires an insurance policy.

A motorhome policy covers your recreational vehicle of any of the four major classes of a motorhome. It also covers the trailer or popup type of vehicle.

You also need to carefully discuss the level of coverage you want the policy to provide. Typically, the only way to obtain actual replacement value coverage is to insure a vehicle purchased within the past year and which you titled originally. If you purchased it from another source besides an RV dealership that sells new vehicles, you probably could not obtain replacement value coverage or total loss replacement.

Contact Advantage Service Insurance, serving Erie, CO, for more information on motorhome policies. Let us help you properly insure your rolling home.

Is RV Insurance Required in Colorado?

Liability insurance for RVs and camper vans is required in every state, with Colorado no exception to the rule. Given how large an RV is, it is hard to imagine that anyone would want to operate one without insurance; however, some believe that your traditional auto insurance will cover an RV, but that is not the case. Keep in mind that in addition to liability insurance, you will be required to underinsured and uninsured insurance coverage when you purchase an RV, are living in it full-time, or rent one for a vacation.

While RV policies can vary from one insurance company to another, the vast majority will cover items like collision, liability, and comprehensive. While not a complete list, here’s a breakdown of what is generally covered under each of those tenets:

  1. Collision: Covers the cost – up to your policy limit – of accidents with another vehicle or an object.

  2. Liability: Covers the cost – up to your policy limit – of property damage, bodily injury, and legal expense to third parties if you are deemed to be at fault in an accident.

  3. Comprehensive: Covers the cost – up to your policy limit – of damage to the RV because of a storm, natural disaster, vandalism, or theft.

In addition to these standard coverages, RV insurance policies can often be purchased with additional coverage like total loss replacement, vacation/campsite liability, and emergency expenses. 

Working with a professional insurance company will help you find the perfect policy for your needs. At Advantage Service Insurance in Erie, CO, we strive to provide exemplary service to every customer by putting your needs first, learning about what you want in your policy, and customizing one to precisely what you want. Give us a call to schedule your no-obligation consultation today. 

How to Prevent Motorcycle Damage in Erie, CO

Preventing motorcycle damage starts with understanding the nature of your bike. If you live in Erie, CO and drive a motorcycle, you’re subjected to more threats than an average driver. Not only are you more challenging to see, but the bike itself is far more prone to everything from theft to accidental damage. Advantage Service Insurance wants you to have a few tips in your arsenal to keep your motorcycle in tip-top shape. 

Be Careful 

The point of a motorcycle is not to play it safe, but the reality is that you may have to slow it down once in a while. If cars can’t always see you, then you need to be careful about sharing a lane with them — even for only a few seconds. Try not to get too close to parked cars in case someone opens their door into you and never go between active traffic. The risks are too high to justify this dangerous move. 

Be Diligent 

Maintenance is all about keeping your vehicle functional on the road. The more repairs you get done, the less likely you are to need to call an emergency ride in the middle of the night. It would be best if you also were careful about when and how you drive. You already know not to drink and drive, but you also need to be aware of when you’re tired or just generally less aware of your surroundings. 

Part of preventing motorcycle damage is having the right motorcycle insurance policy. This way, you can get repairs done quickly before they turn into more significant problems down the line. Advantage Service Insurance is here to show you the kinds of motorcycle insurance that can keep you and your vehicle out of trouble in Erie, CO, so call us today. 

Things To Consider When Selecting Boat Insurance

Boat insurance is the coverage of damage or loss in most types of watercraft, including paddle boats, fishing boats, yachts, leisure crafts, and pontoon boats. If you are a watercraft owner and you are thinking of buying boat insurance, here are several things that you need to take into consideration: 

The Use Of The Boat

The way you are going to use your boat will affect your insurance. Therefore, when choosing boat insurance, here are some questions you should ask yourself: how often am I going to use my boat? Will I have passengers regularly? Will my boat travel at high speeds? The answers to these questions will help you understand what kind of coverage you need. 

Actual Cash Value Or Agreed Value

If your watercraft is insured for agreed value, you will receive the amount on your plan, without depreciation. If the boat is insured for agreed cash value, the insurance company will pay you the "blue book" value of your watercraft and any damaged parts of the boat at the time of the loss. The policies with agreed value are more expensive but provide better compensation, especially if your boat is not new and has many accessories. 

Boat Type

For example, if you have a yacht, it is recommended to find an insurance company that specializes in insuring this type of watercraft. Also, if your boat is new and expensive, it is vital to make sure that you get adequate coverage for your luxury possession. Talk to an insurance agent and make sure that the company is able to provide the best possible premium for your type of boat. 

If you are a boat owner from Erie, CO, and you are looking for an insurance company to get coverage for your watercraft, Advantage Service Insurance is ready to help and guide you through the process of getting a perfect insurance policy for your boat based on your budget and needs. Do not hesitate to contact Advantage Service insurance serving Erie, CO to find out how you can protect your boat and yourself. 

Understanding Umbrella Coverage in Colorado

Colorado has a great deal to offer, and our residents make the absolute most out of those offerings with scenic neighborhoods, beautiful homes, and the space to play with our toys in the great outdoors.  Owing to the world’s uncertainties, however, you want to make sure that all the things you have are protected, and where the importance of umbrella policy coverage becomes essential.  For Erie, CO residents looking for the most comprehensive insurance policy possible, we invite you to come to speak to our trusted agents at Advantage Service Insurance.

Learning about Umbrella Insurance in Colorado

What is umbrella insurance?  As its name implies, the purpose of umbrella coverage is to provide protection when your typical insurance policies bump up against maximum payout maximum.  As an example, assume you were in an auto accident where you were found at fault.  While your existing insurance provides coverage up to $250,000, the resultant damage and medical costs have racked up $640,000 in bills.   

Under this scenario, you would be on the hook to pay an additional $390,000 to cover the total liability of the accident.  This is when umbrella insurance becomes critical.  In the above scenario, your umbrella coverage picks up where auto insurance policy stops at the $250,000 amount.

Providing additional protection for bodily injury, property damage, and charges of negligence, in short, the purpose of umbrella coverage is to protect you from being financially wiped out in the event of a lawsuit.

Contact Advantage Service Insurance in Erie, CO

If you have questions regarding your overall insurance picture and wonder how a Colorado umbrella policy will provide protection should the worse occur, we invite you to talk to our friendly staff here at Advantage Service Insurance. We have the answers you need to make an informed decision regarding your overall insurance picture.