Personalizing motorcycles is almost second nature to many: They want to make the bike reflect their personality, so getting a custom paint job or adding flashy saddlebags is a simple way to do this. Adding accessories and parts is easy, but do you know if your insurance policy covers those added items?

 To determine whether your accessories and parts are covered, here’s a quick overview of what insurance companies often consider custom parts and equipment (CPE).

How Insurance Defines Custom Parts and Equipment on Motorcycles

A basic motorcycle insurance policy outlines what situations and types of damage are covered for your motorcycle. Most motorcycle policies also define what types of parts and equipment are covered, but if you add parts — sissy bars, custom exhaust, alarms, etc. — they may not be covered without purchasing additional coverage.
Motorcycle policies often define CPE as equipment, devices, accessories, enhancements and changes, other than those that the original manufacturer installed, that alter the appearance or performance of the motorcycle. The definition is fairly straightforward, but simply put, if you add something to your motorcycle that the maker didn’t originally have on it, and it changes how your bike looks or rides, you’ve added custom parts and equipment to your motorcycle.
Often, a basic motorcycle policy will provide coverage for CPE up to a specific limit, such as $1,000. However if your accessories or parts are valued at more than $1,000 or whatever amount is automatically covered by your policy, it’s a good idea to add additional CPE (or Accessory coverage, depending on your state) to your policy so those parts are covered in case they’re ever damaged.

Do You Need CPE/Accessory Coverage?

Look at the amount of CPE on your bike to determine its value, then check your insurance policy to see how much CPE coverage is automatically included with Collision and Comprehensive coverage. If the value of your CPE is more than the included coverage, consider purchasing additional CPE/Accessory coverage to protect these valuable pieces of equipment.
You may be able to purchase up to $30,000 of CPE/Accessory coverage, depending on what your state offers. You also may need an inspection completed depending on the type or amount of CPE you have. Your insurance company should notify you of this when you purchase CPE/Accessory coverage.
Finally, remember to keep all receipts of your custom parts and equipment, and take pictures of your bike with the equipment permanently installed on it. This can help expedite a claim if you ever need to make one.

Did you know that over 40 million Americans will go camping at least once per year?  Or that over 7 million Americans will go camping on Memorial Day weekend alone?
While becoming one with nature is clearly a draw for many of us, camping comes with some inherent dangers that aren’t typical concerns in the cities and suburbs.
Sudden thunderstorms, unruly insects or animals and health hazards like dehydration and altitude sickness can all put a serious damper on what should be an amazing outdoor experience. Luckily there are ways to decrease the chances of camping dangers affecting your next trip.
Below you will find some tips and tricks to ensure you camping trips are safe, fun, and, most importantly, bear free.


Overall Safety Tips

  • Travel with a companion. You don’t want to be by yourself in case of an emergency. Leave a copy of your itinerary with a responsible person. Include such details as the make, year, and license plate of your car, the equipment you’re bringing, the weather you’ve anticipated, and when you plan to return. If you’ll be entering a remote area, your group should have a minimum of four people; this way, if one is hurt, another can stay with the victim while two go for help. If you’ll be going into an area that is unfamiliar to you, take along someone who knows the area or at least speak with those who do before you set out. If an area is closed, do not go there. Know ahead of time the location of the nearest telephone or ranger station in case an emergency does occur on your trip.
  • Be in good physical condition. Set a comfortable pace as you hike. A group trip should be designed for the weakest member of the group. If you have any medical conditions, discuss your plans with your health care provider and get approval before departing. Make sure you have the skills you need for your camping or hiking adventure. You may need to know how to read a compass, erect a temporary shelter, or give first aid. Practice your skills in advance. If your trip will be strenuous, get into good physical condition before setting out. If you plan to climb or travel to high altitudes, make plans for proper acclimatization to the altitude.
  • Wear appropriate clothing for the trail conditions and season.
  • Be weather wise. Keep an eye on current and predicted weather conditions. In this area, weather can change very quickly. Know the signs for approaching storms or changing weather conditions. Avoid bare ridge tops, exposed places, lone trees, streams, and rocks during lightning storms. Find shelter in a densely forested area at a lower elevation. Even in the summer, exposure to wind and rain can result in hypothermia.
  • Learn basic first aid so you will know how to identify and treat injuries and illnesses. Carry a first aid kit with you. Learn how to identify the symptoms of heat exhaustion, heat stroke, hypothermia, and dehydration, and know how to treat them.
  • Make camp before dark. Traveling after darkness has resulted in many accidents from falls, so travel only during daylight. Set up camp well away from the edge of cliffs, and learn the terrain during daylight. If you have to leave camp after dark, stay in areas you have seen in daylight, go with a friend, and always use a good flashlight.
  • Think before you drink! No matter how clean or pure stream water looks, it’s likely to contain water-borne parasites and microorganisms that can cause discomfort and sometimes serious illness. Pack your water in, or purify through chemical treatment.

Outdoor Safety: Camping Tips

  • Pack a first aid kit. Your kit can prove invaluable if you or a member of your group suffers a cut, bee sting or allergic reaction. Pack antiseptics for cuts and scrapes, tweezers, insect repellent, bug spray, a snake bite kit, pain relievers, and sunscreen.
  • Bring emergency supplies. In addition to a first aid kit, this includes: a map, compass, flashlight, knife, waterproof fire starter, personal shelter, whistle, warm clothing, high energy food, water, and insect protection.
  • Check for potential hazards. Be sure to check the site thoroughly for glass, sharp objects, branches, large ant beds, poison ivy, bees, and hazardous terrain.
  • Avoid areas of natural hazards. Check the contour of the land and look for potential trouble due to rain. Areas that could flood or become extremely muddy can pose a problem.
  • Inspect the site. Look for a level site with enough room to spread out all your gear. Also, a site that has trees or shrubs on the side of prevailing winds will help block strong, unexpected gusts.
  • Build fires in a safe area. Your open fires and fuel-burning appliances must be far enough away from the tent to prevent ignition from sparks, flames, and heat. Never use a flame or any other heating device inside a tent. Use a flashlight or battery-powered light instead.
  • Make sure your fires are always attended. Be sure you have an area for a fire that cannot spread laterally or vertically – a grill or stone surface is ideal. When putting the fire out, drown it with water, making sure all embers, coals and sticks are wet. Embers buried deep within the pile have a tendency to reignite later.
  • Pitch your tent in a safe spot. Make sure your tent is made of a flame-retardant fabric, and set up far enough away from the campfire. Keep insects out of your tent by closing the entrance quickly when entering or leaving.
  • Beware when encountering wildlife. To ward off bears, keep your campsite clean, and do not leave food, garbage, coolers, cooking equipment or utensils out in the open. Remember that bears are potentially dangerous and unpredictable – never feed or approach a bear. Use a flashlight at night – many animals feed at night and the use of a flashlight may warn them away.
  • Beware of poisonous plants. Familiarize yourself with any dangerous plants that are common to the area. If you come into contact with a poisonous plant, immediately rinse the affected area with water and apply a soothing lotion such as calamine to the affected area.

Outdoor Safety: If You Get Lost

  • Pay close attention to your surroundings and landmarks, and relate this to your location on a map.
  • Stay calm if you get lost. Panic is your greatest enemy. Try to remember how you got to your present location.
  • Trust your map and compass, and do not walk aimlessly. If you are on a trail, don’t leave it.
  • Stay put if it is nightfall, if you are injured, or if you are near exhaustion.
  • As a last resort, follow a drainage or stream downhill. This can be hard going but will often lead to a trail or road.

Did you know that leaving the grill unattended, not cleaning grease or fat build up properly, or placing the grill too close to combustible siding can cause injuries, fires and property damage?

Charcoal or Gas?

Nearly 9,000 home fires a year involve grills, according to a National Fire Protection Association report. Of all the home fires involving grills, gas-fueled grills accounted for four out of five fires, while 16% involved charcoal or other solid-fueled grills. Gas and charcoal grills each have ardent advocates, who praise the convenience of gas or the flavor of charcoal. Whichever your preferred grilling method, follow these important safety considerations.

Gas Grill Safety

A leak or break was the leading factor contributing to gas grill-related fires, according to the NFPA report.

  • Check the gas cylinder hose for leaks before using it for the first time each year.
  • Apply a light soap and water solution to the hose, which will quickly reveal escaping gas by releasing bubbles.
  • If you smell or otherwise suspect a gas leak, and there is no flame, turn off the gas tank and grill. If the leak stops, get a professional to service it before using it again. Call the fire department if the leak does not stop.
  • If you smell gas while cooking, get away from the grill immediately and call the fire department. Do not attempt to move the grill.
  • Never turn on the gas when the lid is closed. The gas may build up inside, and when ignited, the lid could blow off and cause injuries or burns.
  • After cooking, make sure you completely close the valve on your gas grill.
  • Always store gas grills – and propane tanks – outside and away from your house.

Charcoal Grill Safety

The leading cause of structure fires from use of charcoal grills was leaving or placing an object that could burn too close to the grill, according to the NFPA study.

  • Charcoal grills can continue to remain hot for many hours after the flames extinguish. Avoid placing any burnable objects near the grill or moving the grill while the coals are hot. Keep combustible items that may be blown by the wind away from the grill.
  • Check for rust damage in metal grills, which may make it possible for charcoal to fall through onto surfaces below and cause a fire.
  • Purchase the proper starter fluid. Store out of reach from children and away from heat sources.
  • Do not add charcoal starter fluid when coals or kindling have already been ignited. Never use any other flammable or combustible liquid to get the fire started.
  • If the fire is too low, rekindle with dry kindling and more charcoal if needed. Avoid adding liquid fuel because it can cause a flash fire.
  • Do not leave the grill unattended.

Here are some other important tips to help you keep danger away when you are enjoying food and fun.
Choose a safe location for your grill. Keep grills on a level surface more than ten feet away from the house, garage or other structures. Keep children and pets away, as well as overhanging branches. Grills should not be used on a balcony or under an overhang. Avoid placing grills too close to combustible deck rails.
Grill outside only. Never use a grill in a garage, vehicle, tent or other enclosed space, even if ventilated, due to risk of harmful carbon monoxide buildup.
Keep the grill going on a cold day. During cool weather days, avoid wearing a scarf or other loose clothing that may catch on fire. Consumer Reports recommends shielding the grill from wind, placing it about ten feet from combustible surfaces and materials, and keeping the lid closed to retain as much heat as possible. Allow extra time for pre-heating the grill in colder weather and check temperatures of meat and fish with a meat thermometer to ensure that food is safe to eat.
Teach kids to stay safe. Make a “kid-free zone” of at least three feet around the grill and areas where hot food is prepared or carried. Children under five are especially vulnerable to burns from contact with a hot grill surface. Grill contact accounted for 37% of burns seen at emergency rooms in 2014 involving children under five.²
Remember post-grilling safety. Keep your grill clean by removing grease or fat buildup from the grills and in trays below the grill. If you grill with charcoal and need to dispose of the coals, soak them in water to extinguish them before disposing in a metal container. Otherwise, cover the grill tightly and close the vents, this should extinguish the coals and whatever is left will be ready for next time.

After boating season is over, it may seem like canceling your boat insurance is a good idea to save some money. Here are a few reasons why you may want to keep your boat insurance year-round.

Boat Insurance on the Water

Naturally, you want to protect you’re boat while you’re using it. Boat Insurance, while on the water, will usually include the following:

  • Liability, which protects other people and property if you’re responsible for an accident
  • Comprehensive, for incidents such as vandalism, flooding, and fires that may happen to your boat
  • Collision, for instances in which you hit another object and damage your boat
  • Fishing Equipment, which protects your gear on board or while it’s being transported on or off your insured boat
  • Uninsured Boater, which protects you in case an uninsured boat collides with yours.

Boat Insurance off the Water

Protecting your boat while it’s on the water is an easy decision, but what about when it’s not on the water? What about when it’s sitting in a slip or even in your yard? You may think canceling your boat insurance to save a few dollars during the off season is a good idea, but a lot can happen while your boat isn’t in use.
In fact, 20% of all boat claims are filed between Labor Day and Memorial Day. Most of these claims are filed due to vandalism, theft, fire, or flooding, which can happen at any time, not just during warmer months.
And what about injuries? You’re most likely responsible if someone gets hurt on your boat, but did you know you could be responsible for injuries around your boat, too? If you bypass boat insurance, you won’t have liability coverage to protect you in cases that involve injury, which means you may be responsible for paying someone’s medical bills whether you’re using your boat or it’s sitting unattended.
Whether you store your boat in a marina or in your yard, you may want to rethink any decisions to cancel your boat insurance while it’s not being used.

What to Consider before You Buy Boat Insurance

Before you make any changes, be sure to check your policy and review it with your agent to make sure you’re getting the most for your money.
Remember to look at what you have, then purchase boat insurance that covers your way of life. If you own a home, cars, a business, etc., you may want to consider a higher level of boat insurance coverage or an umbrella policy to protect your assets.

Most people are familiar with the standard insurance policies — homeowners, auto, umbrella, life, and health insurance.  What you may not realize is that there are insurance policies available for some off-the-wall risks.  Alien abduction insurance anyone?
From celebrities to the just plain bizarre, here are some of the most unusual insurance policies in the world. For your more “typical” insurance needs, you’re always welcome to contact our office.


Alien Abduction Insurance
Believe it or not, a London based firm has sold more than 30,000 alien abduction insurance policies throughout Europe. Of course, you’ll need to provide proof of the occurrence to file a claim. If you’re a believer, a little green could save you from the little green men.
Don’t Forget Werewolfs, Vampires and Ghosts
Are you a little too into the TV series True Blood? No problem. There’s an insurance policy for you, too. The Royal Falcon Hotel in Lowestoft, England, for example, insured its staff and customers against death and disability caused by ghosts, poltergeists and other abnormal phenomena.
Ransom Reimbursement
Multinational corporations have been known to secure policies for kidnapping, just in case their executives are abducted in another country while on a business trip. But individuals can also purchase this insurance if they so desire. How does it work? The insurance company will deploy a team of negotiators, and will reimburse the ransom price up to your policy limits.
Food Truck Insurance
Here’s one that’s relatively unknown, but necessary if you’re a part of the growingmobile food vendor industry. With up to 10,000 food trucks in Los Angeles County alone, you want to be sure your rolling veggie burrito business is insured. Auto accidents, fire, and food borne illness are just some of the risks they face.
Celebrities And Other Irreplaceable Talents
From rock stars to athletes, the list of over-the-top celebrity insurance policies is a long one, often with major payouts. In fact, just about any body part you can think of has been insured. Here are just a few.
A Dutch Winemaker’s Nose
After hearing about a man who lost his sense of smell in a car accident, winemaker Ilja Gort took out an $8 million policy on his nose. Under the terms of the policy, he is barred from riding a motorcycle or working as a knife thrower’s assistant or fire-breather, among other things.
Gene Simmons
You don’t always have to insure the entire body. Gene Simmons, the legendary bassist for the 70’s rock band Kiss, allegedly insured his tongue for $1 million when the band was in its prime.
Troy Polamalu’s Hair Endorsement
Policies on athletes don’t have to be about performance. For example, while he was still playing Proctor & Gamble wanted to protect their endorsement deal. As the star of their shampoo commercial, they insured his famous hair for $1 million.

When buying auto insurance, there are a number of questions to consider as you look at coverages and companies to work with.

1. How Much Do You Love Your Car? Okay, your car is not a family member or even a person, but do you have a very special attachment to it? If so, you’ll want it fixed perfectly—or replaced with the same model—if anything happens to it. So shop for the fullest range of insurance, including collision, comprehensive and even glass coverage.
2. How Much Do You Drive? Do you absolutely need your car every day—for instance, to get to work? Or is owning a car mostly a matter of convenience that you could forgo if needed? Do you drive 100 miles a month or closer to 1,000 or more? Make sure your policy reflects how much you drive.
3. Will You Be Using Your Car for Work? If you use your car not just to get to work, but to perform work tasks, commercial auto insurance is a necessity. A personal auto policy will not provide coverage if you deliver pizzas, drive as a courier, transport paying passengers through a ride-share service or use your car for other commercial activities.
 
4. Where Do You Live—and Park? Where you live will impact your insurance rates—and it may be a factor in what coverage you purchase. For example, cars parked on the street in urban areas face a greater risk for theft or vandalism, so you may want to purchase comprehensive coverage.
5. Who Else Will Be Driving the Car? Generally, your car insurance will cover other occasional drivers. However, if other drivers live with you and use your car—whether a spouse, a teen driver or a housemate—they should be listed on your policy.
6. What Are Your Legal Obligations?  Nearly every state requires that you carry minimum liability coverage for your car. At the very least, you need to make sure your policy complies with state mandates. However, the levels of required coverage are generally pretty low. To be safe, you’ll probably want additional liability coverage—keep in mind, if you are involved in a serious accident, you may be sued for a large sum of money.
7. Is Your Car Financed or Leased? If you still owe money on your car or have to return it in good condition when a lease expires, you’ll likely be required to insure the car for its full value—and even for any gap between what you owe and the car’s market value. Collision and comprehensive will cover damage to your car up to its value—and supplemental gap insurance will cover the rest.
 

Have a classic car?  Here’s what you need to know about insuring them:
Insurance Eligibility
To be eligible for classic car insurance, your vehicle must usually fit one of the following definitions:

  • Classic Car: A vehicle more than 10 years old that is a rare make and model due to exceptional workmanship or limited production.
  • Antique Car: A vehicle more than 25 years old. If a “classic car” is more than 25 years old, it is considered an antique car for insurance purposes.

Your antique or classic car must also meet these conditions:

  • Limited Use: Most classic car insurance policies will only cover a limited number of miles each year.
  • Condition: The car must be restored, maintained or preserved. Some insurers may decline coverage if the vehicle is not in excellent condition.
  • Storage: You will need to store your car in a fully enclosed and locked garage.

Policy Payouts
Typically insurance companies provide coverage one of two ways:  1) agreed-value policies that guarantee 100 percent of the amount listed on the policy in the event of total loss or 2) stated-value policies will pay out their perceived value of your classic car.
Classic Car Coverage
Antique or classic car insurance policies include typical vehicle coverage options, such as liability, collision, comprehensive, medical payments and more. But because regular-use vehicle policies often won’t protect classic cars in certain situations, you should purchase separate insurance for your classic car.
To find out more, please contact our office.

Denver in April can bring sudden thunderstorms, and major storms are fraught with peril.  Here are some tips to make sure you’re prepared in the event of a storm:
Take shelter in a safe location.
This might require evacuating your home—despite the natural desire to stay behind and protect it. If so, monitor weather and traffic reports to identify your evacuation route, secure your property and head for higher ground. If you can, take all of your vehicles with you. If you can’t, store them indoors or on high ground as close as possible to a sturdy building.
Keep insurance documents with you.
Place your insurance documents, vehicle registration and title in a waterproof bag and keep them with you. Then, take photos of your vehicles; this can help if you have a claim.
Report vehicle damage immediately.
Don’t try to start or move a flooded vehicle; you could cause more damage. Rather contact your agent or insurance company.
If it’s safe to drive, use caution.
Never drive over a downed electrical line, and avoid low-hanging and fallen power lines and debris. Never travel down a road submerged in water; underlying currents could carry your vehicle away. And if your vehicle stalls in water, immediately abandon it; floodwaters can rise several feet in a matter of minutes.

We don’t want to alarm you (couldn’t help ourselves), but, according to the FBI, more than 2 million homes are burglarized in the United States every year. This means that someone is breaking into a home somewhere across the country about every 13 seconds. To avoid being the victim of a burglary, getting a home security system is your best option.
Many consumers, though, don’t know exactly what to look for in a home security system. Are there specific features I need to add? What questions should I ask potential vendors? Where and how should it be installed? With these questions in mind, here is a list of 10 things you should know before you buy a home security system. You’ll learn not only the basics, but also what to look for in a system to protect your valuables and your family.
Also, keep in mind that a home security system will also provide premium savings to your homeowners insurance policy. If you would like to find out more, please contact our office.


 
1. Home security systems are affordable.  Even if you are on a limited budget, you can have a home security system. You might want to consider a traditional burglar alarm system; this will give you sensors on your doors and windows, and alert you to any intruders. While not as advanced as a home security system, it will provide adequate protection for your valuables and your family.
If your budget allows, you can opt for a system that is larger, is more advanced and has extra features. This can include fire alarms, carbon monoxide alerts and intruder alerts, and can provide you with immediate access to emergency personnel. A more advanced system can also include the use of asset protection devices.
2. The installation process varies. The installation process of your home security system depends on what type you purchase. A traditional wired system will need to be installed by a professional, and often requires some drilling (and holes in your walls) to connect the sensors to the main alarm system.
On the other hand, a wireless system is much easier to install, as no drilling is required. In most cases, wireless systems are powered by battery, although some are powered by solar panels.
Installation will also depend on the company you purchase it through; special equipment may be needed to connect you directly to the security company or emergency personnel. Ask what is required for the installation so that you are prepared for the process (and the potential mess).
3. Security systems operate even during power outages.  Many homeowners are concerned about how the home security system is powered. Suppose you are on vacation and get word that there was a storm in your neighborhood that knocked out the electricity. Is your home security system still on? Is your home protected? Should you return home?
Don’t be alarmed: No matter what type of system you have, it will continue to operate even when there is no power at your home. A traditional system that is powered by electricity is typically low voltage, which means it doesn’t actually take a lot of power to run the system. And these types of systems contain a large battery that will back up the system when the main power is out.
Another option is a solar-powered security system. You can set this up to be only one component, such as an outdoor security camera, or your entire system can be run on solar power. A solar-powered system is more costly, but if you are looking for a “green” solution that will provide security even when there is no electricity, this is the best option.
4. Burglar alarms are not home security systems. There are major differences between a burglar alarm and a home security system; the latter provides additional benefits to help protect you and your family, and it may be the better investment. Before signing up with a company, it is important that you know what you are getting, what is protected and how the system works.
A burglar alarm is the traditional type of alarm system that has sensors on doors and windows. It will alert you or law enforcement (depending on your settings) that an intruder has entered into your home. This is extremely beneficial — but a home security system can also warn you about environmental dangers, such as fire, carbon monoxide and even flooding.
5. Size does matter. Although some security companies may tell you there is only one kind of security system for everyone, this is not true. In fact, several types and sizes are available, each of which can be customized to fit your needs. Sure, doing so will cost more; but it also will provide you with a higher level of security, as it will be designed specifically to fit your home and your way of life.
A small system might be fine for an apartment or small home. If you have a larger home, you’ll need a system that can handle a larger amount of information and monitoring. A large home requires a system that covers all the doors and windows, as well as the grounds.
6. Many systems offer personal security. Suppose you slipped while walking down the stairs and couldn’t get to a phone. How long would it take before someone came looking for you? Many home security systems are equipped with technology that can be beneficial in a medical emergency.
In most instances, you can get a pendant or bracelet that allows you to push a button to immediately be put in contact with emergency personnel. When you purchase this type of service, help will be available to you 24 hours a day. This option is great for the elderly, as well as those who live alone or don’t have neighbors close by.
7. Choose your provider carefully. Now that you have determined the importance of a home security system, and know what services are available, you will need to choose a service provider. First, consider how long the company has been in business. We recommend you choose a company that has at least 10 years of service, but that has updated, modern equipment. This track record will give you not only customer feedback, but also peace of mind.
Second, consider the distance between you and the monitoring location. We recommend that you be no more than 250 miles away. The farther away you are from a monitoring location, the longer it can take for the alarm to relay, which could delay the amount of time it takes for someone to get to your home.
8. Additional services may not be worth it. As you begin calling home security companies, you will be offered additional devices and services that can be added to increase your security. However, not all of the devices are worth the price you will have to pay.
For instance, if you have no valuable paintings or jewelry, or other items that you want specifically protected, then you would not want to pay for asset protection devices. On the other hand, if you do have high-priced items in your home, then asset protection devices are definitely worth investing in.
Other high-tech devices you might find worth the cost are personal alarm systems, which provide you with immediate access to emergency personnel, as well as security cameras that can be linked to your smartphone. This allows you to monitor your home even while you are away; it is the way of the future.
9. Asset protection devices protect valuables. You can install devices that will alert you if your valuables have been tampered with. Asset protection devices let you know when, for example, a jewelry box has been opened, a painting has been moved or a safe has been tampered with, even if there is no physical evidence.
Asset protection devices are not only beneficial when it comes to theft, but also they give you peace of mind. For example, if a repair person or house cleaner comes into your home while you are away, you will know whether they disturbed your valuable items. When thinking about asset protection devices, consider how many you will need.
10. There are other less-obvious benefits. Aside from the security of knowing that your personal possessions are protected, there are other benefits to having a home security system that just might help you make the decision to purchase one.
For instance, many homeowners insurance policies offer a reduction on premiums for those who have a home security system installed. In addition, more advanced home security systems can provide you with an alert if one of your appliances is not working properly and could cause damage to your home. Furthermore, home security systems give guests, babysitters and nannies peace of mind, knowing that they are safe and secure in your home.

If you lease a car in Colorado, you still need to buy your own auto insurance policy. The auto dealer or bank that is financing the car will require you to buy collision and comprehensive coverage in addition to other state-mandated coverages like liability insurance.

  • Collision covers the damage to the car from an accident with another automobile or object.
  • Comprehensive covers a loss that is caused by something other than a collision with another car or object, such as a fire or theft or collision with a deer.

The leasing company may also require “gap” insurance. If you have an accident and your leased car is damaged beyond repair, there could be a difference between the amount that you still owe the auto dealer and the check you’ll get from your insurance company. That’s because the insurance company’s check is based on the car’s actual cash value which takes into account depreciation. The difference between the two amounts is known as the “gap.”
On a leased car, the cost of gap insurance is generally rolled into the lease payments. You don’t actually buy a gap policy. Generally, the auto dealer buys a master policy from an insurance company to cover all the cars it leases and charges you for a “gap waiver.” This means that if your leased car is totaled, you won’t have to pay the dealer the gap amount. Check with the auto dealer when leasing your car.
If you have an auto loan rather than a lease, you may want to buy gap insurance to protect yourself from having to come up with the gap amount if your car is totaled before you’ve finished paying for it.  If you have questions about this coverage, please give our office a call.