Category: Insurance

The Case for Boat Insurance: Risks and Liability

While the state of Erie, CO, doesn’t mandate boat insurance, it can be required in certain scenarios and is typically a wise choice. Advantage Service Insurance is here to assist you with securing the right boat insurance.

When Boat Insurance is Mandatory

If a bank or finance company has a lien on your boat, they are likely to require you to hold insurance covering the boat’s full value. Similarly, marinas may require boat insurance if you plan on docking your boat at their facilities. These insurance prerequisites vary, with some marinas only demanding liability insurance while others may necessitate both general and liability coverage.

Boats Under Homeowners Insurance

Your homeowner’s policy may offer some boat coverage, but it is often insufficient to cover the boat’s total cost. Also, it might not provide coverage while on the water or in transit.

Assessing Your Risk Tolerance

If boat insurance isn’t mandatory, you must evaluate your risk tolerance. It would be best if you considered how much your boat costs and your financial capacity to replace it in case of damage. If replacing your boat would strain you financially, it would stand to reason that you have a low-risk tolerance and should seek boat insurance.

The Value of Liability Coverage

Regardless of your risk tolerance, liability coverage should always be a consideration. This coverage protects you against financial loss if your boat damages someone else’s property. Given the potentially high damages, liability insurance is a worthwhile investment.

Service at Advantage Insurance

For an array of boat insurance solutions in Erie, CO, don’t hesitate to contact us at Advantage Service Insurance. We provide policies to suit every need and budget. Our expert agents are always ready to assist you with your insurance needs.

The significance of umbrella insurance often goes unnoticed in the realm of community development and infrastructure projects. However, integrating umbrella insurance into such endeavors can provide invaluable protection and support in and around Erie, CO.

Comprehensive Coverage for Project Risks

Community infrastructure projects, whether they involve building roads, bridges, schools, or other essential facilities, come with various risks. These risks range from construction accidents and property damage to unforeseen delays or legal disputes. Umbrella insurance offers comprehensive coverage beyond standard policies’ limits, safeguarding against these potential risks.

Safeguarding Project Finances

Large-scale infrastructure projects often involve significant financial investments from multiple stakeholders, including government agencies, private investors, and community organizations. Any unexpected liability claims or setbacks can jeopardize the project’s economic viability, leading to delays or abandonment. Umbrella insurance helps mitigate these financial risks by providing additional coverage, ensuring project finances remain secure.

Enhancing Stakeholder Confidence

Umbrella insurance can instill confidence and peace of mind among project stakeholders, including investors, contractors, and community members. Knowing that the project is adequately insured against potential liabilities alleviates concerns about financial losses or legal disputes, fostering trust and cooperation among all parties involved. This increased confidence can streamline project execution and facilitate smoother collaboration, ultimately contributing to the success of the infrastructure initiative.

Promoting Sustainable Development

Umbrella insurance is crucial in promoting sustainable development by mitigating risks associated with infrastructure projects. By safeguarding against potential liabilities and financial losses, umbrella insurance helps ensure community infrastructure’s long-term viability and sustainability. This, in turn, supports economic growth, enhances quality of life, and fosters resilience in the face of unforeseen challenges or disasters.

How Advantage Service Insurance Can Help You

Our team at Advantage Service Insurance serves the Erie, CO, area and answers any questions about insurance policies, including umbrella insurance. Please Call us today. 

Floods are serious natural disasters. We’ve got you covered if you’ve ever wondered why they occur. If you’re looking for flood insurance, we can help ensure you’re also adequately covered. Contact Advantage Service Insurance, serving Erie, CO, and other communities.

Understanding Floods and the Risks They Pose

Water typically flows into the ocean or large lakes. When it rains, the water will eventually reach a river or stream, then flow onto a large body of water, like the ocean. This keeps most of the land in a given area relatively dry. However, sometimes weather events, like heavy rain storms and snow melt, produce enough water that it can’t be drained away quickly. This can result in flooding.

Local authorities have built drainage systems in many areas to help water drain away more quickly. Yet even so, flooding can still occur. Further, some areas are prone to flooding, and it’d be tough to build a drainage system in such areas that could prevent all flooding.

Communities located in low-lying areas, like valleys, are often more prone to flooding. Rain water and snow will travel downhill and gather at the bottom. Usually, a valley might be drained by a nearby river, but if too much water falls, the river could overflow its banks, leading to flooding. For this reason, communities near rivers are often more at risk of flooding.

Further, flooding can occur when powerful ocean storms create a storm surge and push water from the ocean onto land. Communities located in low-lying areas near the ocean are often more prone to flooding, especially if a major storm, like a hurricane, strikes.

The good news is that families and organizations can protect themselves with the proper flood insurance plans. It’s important to ensure you are covered in the event of floods, as standard homeowner’s insurance often doesn’t cover flooding. Contact Advantage Service Insurance, serving Erie, CO, to learn more about flood insurance.

Homeowners’ insurance can cover the repair of many different areas of the home, including appliances, depending on how the damage or malfunction occurred. It’s important to understand what’s covered and the terms of coverage for any given circumstance. A homeowner can take advantage of many bundled areas of coverage when it comes to their assets, liability, and other structures on their property. Our team at Advantage Service Insurance understands that property insurance includes many different coverage areas and can be challenging to navigate and understand. As a result, we’re committed to helping Erie, CO residents thoroughly understand homeowners insurance.

Terms and Conditions

Although homeowners insurance is designed to cover many different areas related to a person’s home, your homeowners’ policy terms are clearly outlined. Not every area will be eligible for coverage if damage occurs due to an event or situation that’s not covered. This is why an insurance agent takes his or her time to explain how coverage works and what situations are typically covered. Areas that aren’t covered generally are explained as well.

Will condo insurance pay for the repair of my refrigerator?

Typically, appliances are covered by a homeowners’ insurance policy. However, once again, the terms of coverage are governed by how the damage occurred. Your homeowner’s policy doesn’t cover manufacturer defects or issues and should be handled by the appliance manufacturer instead. Also, homeowners’ policy doesn’t cover appliances that become damaged or malfunction due to age and natural wear and tear over time. However, fire, perils and situations, and theft are typically covered by your policy. If you have more questions regarding homeowners insurance, call us. We’d be happy to help you explore your options. 

If you’ve got a classic car, you may be proud of the fact that it still runs. However, just because you can doesn’t always mean you should. If, for some reason, you need to transport your classic a long distance, it may be better to get it shipped by auto transport than to drive it to the destination. It’s a delicate process but not too difficult if you know what to do. 

Do….

• Go with enclosed shipping. It may cost a little extra, but it’s well worth having your baby surrounded by walls and a roof the whole trip and be protected from the elements.
• Take some pictures. Before your classic gets boxed up for transport, take lots of time-stamped pictures of it. This will prove the condition of your car before it is shipped. 
• Research the company you’re doing business with. This is wise advice for anything. 
• Have everything prepared for pickup. Have the keys, license, and other paperwork ready. 
• Give your car a good cleaning first. That way, it makes it easy for the driver to perform an inspection for any pre-existing damage.

Don’t…

• Have any items in the vehicle? Insurance will not cover them, and most companies will not allow this anyway. 
• Fill the tank up. It’s unnecessary weight and a safety risk. A quarter tank will be enough to get your baby to the nearest gas station. 
• Forget the details on your insurance coverage. Please review your classic car’s insurance policy before shipping it anywhere. The people you’re doing the shipping with should be able to explain the insurance options you have. 

Contact Advantage Service Insurance Serving Erie, CO 

If you live in the Erie, CO, area and own a classic car, please get in touch with Advantage Service Insurance. We will help you insure your most prized possession. 

Commercial insurance for riskier businesses, such as travel companies and other firms, is critical to get right. At Advantage Service Insurance, we can help risky Erie, CO businesses, such as hunting tours, get the insurance they need to protect themselves from various risks.

Liability Protection 

Typically, a commercial insurance policy will provide you with liability support to minimize things like how much you spend on lawsuits. Liability coverage will ensure that you can pay for lawsuits and various legal issues to protect you.

Property Coverage 

Your business likely has a lot of property and other items you need to operate properly. Commercial insurance can protect you by providing help repairing and replacing damaged items. It usually covers unexpected issues, like fires, and not general wear and tear problems.

Umbrella Support 

Umbrella insurance policies can often pair with commercial coverage options and improve your liability. For example, it will increase the amount of money you can get from your pay and ensure you cover serious lawsuits and other potential legal fees in a case. 

Risk Mitigation 

The best commercial insurance policies can help mitigate your risk by protecting you from various issues. For example, if you run a company with a higher potential for physical injury, a policy can ensure you get support and avoid paying too much money.

Managing Insurance Properly 

If you’re interested in commercial insurance for your risky business, please don’t hesitate to contact us at Advantage Service Insurance to learn more. We can help Erie, CO, residents and those outside the area learn more about their coverage options and ensure they get the desired results. Call us now to learn more about what we have to provide you.

For snow enthusiasts in and around the Erie, CO area, winter is a magical season filled with outdoor fun and adventure opportunities. Whether you’re a snowmobiler, skier, or snowboarder, having the right insurance coverage for your winter toys is essential.

Understanding Winter Toys

Winter toys encompass various recreational vehicles and equipment designed for winter activities. These may include snowmobiles, skis, snowboards, ice fishing gear, and more. 

Types of Winter Toy Insurance

Several types of insurance can help protect your winter toys:

• Snowmobile Insurance: If you own a snowmobile, you’ll need a specific insurance policy. This coverage can protect you in case of accidents, theft, or damage to your snowmobile.
• Winter Sports Insurance: Winter sports insurance covers skiing, snowboarding, and ice skating activities. It can cover medical expenses, equipment damage, and trip cancelations due to unforeseen events.
• Personal Articles Policy: This policy can cover valuable winter sports equipment like skis, snowboards, and ice fishing gear. It often provides coverage against theft, damage, or loss, both on and off the slopes.

Factors to Consider

When selecting insurance coverage for your winter toys, consider the following factors:

• Coverage Limits: Ensure your policy offers adequate coverage limits to replace your equipment or pay for medical expenses in case of an accident.
• Deductibles: Understand the deductible amount in the event of a claim.
• Additional Coverage: Explore options for extra coverage, such as coverage for skiing or equipment rental reimbursement. Combining policies can also help lower the premiums with additional coverage. 
• Policy Exclusions: Familiarize yourself with any policy exclusions, such as coverage limitations for extreme sports or certain medical conditions.

Advantage Service Insurance Can Help You

At Advantage Service Insurance, we can answer all your questions concerning winter toy insurance. We assist the Erie, CO area. Contact us today. 

Being a motorhome owner is a good option for people in the Erie, CO area. Owning a motor home will provide you with both a reliable mode of transportation and a safe place to sleep at night. This can make it an ideal option if you want to take a long road trip or are looking for a new housing option. When purchasing a motor home, you need to carefully consider your car home insurance options, as they can offer various benefits. 

Coverage for your Motor Home

A top reason to get a motor home insurance plan is to get coverage for the asset. When you buy a motor home, you will be making a significant purchase and will have an asset you will want to use and enjoy for a long time. When you have motor home insurance, you will have coverage if it is damaged or stolen. 

Liability Support

Getting a motor home insurance plan to receive liability support is also a good idea. There is always a chance you can be held liable for an accident when driving the motor home or if a guest is injured when not on the road. A motorhome policy will provide coverage for these risks. 

Any motorhome owner in the Erie, CO area needs to ensure they have proper coverage. A great way to ensure you have the proper support is by calling our professionals with Advantage Service Insurance. When you call our Advantage Service Insurance team, you will learn far more about your insurance options. We can also provide any support you need to ensure you remain adequately covered at all times. 

Owning a motorcycle can be a great experience, but you want to stay on top of possible risk factors. Here at Advantage Service Insurance, serving Erie, CO, and the surrounding areas, we want to help you stay safe on the road in every way possible. Keep reading to learn more about the top three risks for motorcycle owners. 

Debris

Ware riding your bike, road debris can be a considerable risk factor. Because you will not have the added protection of the frame of a vehicle, you might easily be thrown from your bike if you hit debris, especially if it is significant. This is why it is immoral ways to obey the speed limits and stay focused on your surroundings. 

Blind Spots

Another risk for bikers is blind spots. Although your bike does not have blind spots, all of the vehicles around you will have blind spots. Because you and your bike take up very little space on the road, it’s easy for you to get lost in someone else’s blind spot. If this happens, you could wind up in an accident. Blind spots are hazardous. It is vital that you learn how to identify potential blind spots and stay out of them. You can do this by learning which areas of certain size vehicles fall into a blind spot. You can then avoid being in that space beside that vehicle. You can either slow down to leave the blind spot or speed up. 

Uneven Road Surfaces

Uneven road surfaces annoy everyone, but they can be dangerous for bikers. Uneven bumps can knock a biker off of their bike. Use safe speed and be aware of your surroundings. 

If you want to learn more about motorcycle insurance, don’t hesitate to contact us at Advantage Service Insurance, serving Erie, CO, and the surrounding areas. 

As the summer months approach here in the Erie, CO, area, it’s essential to be aware of the potential for storms on the open water. With heavy winds and choppy waves, bad weather can quickly put a damper on any boating trip. To ensure that your vessel is prepared for a storm, here are some helpful tips from us at Advantage Service Insurance: 

1. Ensure all windows, hatches, and doors are securely closed and latched. 
2. Check all ropes and mooring lines to make sure they’re taut and secure. 
3. Install extra lines if needed – these can be used to tie down loose equipment or furniture and help keep the boat from drifting away in high winds. 
4. Remove any sails from the boat or stow them away in case of high winds, which could cause damage. 
5. Securely store any valuables or items that could get lost or damaged during a storm. 
6. Double-check that all fuel tanks are secure and tightly sealed against leaks or spills during turbulent waters. 
7. Ensure your bilge pump works correctly to quickly remove the excess water should your boat begin to take on water during a storm surge or heavy rain.  
8. Lastly, ensure you have an emergency kit aboard with first aid supplies and other essential items such as food, water, and flashlights – just in case! 

These tips help ensure you and your boat stay safe and sound when a storm hits! For more safety tips, call us at Advantage Service Insurance today. We proudly serve the Erie, CO area and would happily help you find the right policy for your needs.