Many people are hesitant to file claims with their auto insurance company out of fear that their premiums will be increased or the policy will be cancelled.  While practices vary between insurance companies, more will increase your premiums by a predetermined percentage for each chargeable claim made against your policy above a specific dollar amount.

A chargeable claim is one that an insurance company considers to primarily be your fault.  Also, these premium increases will generally stay on your premium for three years following the claim.

Your insurance company also has the right to not renew your policy if your driving record get worse or you have had several accidents.  Insurance companies differ in what they feel constitutes a bad driving record; however, most of them view two minor violations (minor speeding, moving violations, etc.)  or one major violation (excessive speed, DUI, etc.) within three years as a poor driving history.

You may also decide not to renew your policy if your driving record gets markedly worse or you have several accidents. Different insurers have different rules about what constitutes an unacceptably bad driving record. But some accidents, such as those caused by drunk driving, will probably trigger a nonrenewal from virtually every insurance company.

If you have an accident but don‘t report it to your insurer, you are taking a risk, even if the damage seems minor. If the other driver sues you weeks or months later, your failure to report the accident might cause your insurer to refuse to honor the policy. And even if they do honor the policy, the delay will certainly make it harder for the insurer to gather evidence to represent you.

Do I Really Need an Umbrella Insurance Policy? Here Are Some Things to Consider
Standard auto, homeowner’s and boat insurance policies cover liability a person may have for bodily injuries or property damage for which you are negligent.  while limits of $100,000 to $250,000 may cover you for most accidents, there are cases where those limits simply aren’t enough.   And if you have personal assets above those limits you may be jeopardizing those assets.

To cover financially devastating events like these, insurance companies offer personal umbrella policies. These policies provide additional protection when an accident uses up the amounts of insurance provided by the other policies. They may also cover some types of losses these other policies do not cover.

In order to determine whether or not an umbrella policy is right for you, you should answer the following questions:

First, do you have items that put you at a higher risk for a catastrophic loss? For example, do you have multiple cars or inexperience drivers in your household?  Household attractions like swimming pools, trampolines, and swing-sets present an exposure to severe losses. Boats, like cars, can cause serious injuries and damage if the operators are inattentive, intoxicated, or inexperienced.

Next, do you have any exposures that do not involve potential physical injury or illness or property damage or that might require different coverage? For example, do you or any members of your family participate in social media websites or online discussion forums? Does anyone coach a youth sports team, belong to the governing board of a non-profit organization, write computer code as a hobby, or give music lessons? These activities present different exposures to legal liability.

Third, do your underlying policies have high enough limits? How high are the liability limits on your homeowners and auto insurance policies?  Does your homeowners insurance cover any business activities? Does it cover family members accused of slander, libel, or defamation of character in online postings?

Lastly, an umbrella may cover things like volunteer activities, statements made online, and certain business activities that a homeowner’s or auto policy might not cover.

Normally, the insurance company will require you to pay a deductible amount (such as $250 or $500) before it will pay for a loss that one of these other policies does not cover.

If you have any other additional questions on whether or not an umbrella insurance policy is right for you, please contact our office.

For anyone renting an apartment, condo, or house, renters insurance will provide protection for your possessions and even liability coverage to protect you and your family from loss or destruction.   One of the most common misconceptions renters have is that if their belongings are stolen or destroyed, they will be able to turn in a claim on their landlord’s policy.
In addition to providing protection against standard claim like fire or lightning, a renters policy will also provide coverage for theft, vandalism, windstorms, and even water damage.  A renters policy will also provide liability coverage and defense costs for bodily injury or property damage you or a family member causes to others.
Like a homeowners insurance policy, a renters policy will also provide additional living expenses if you are forced out of your dwelling for a covered claim.
As renters insurance policies do not cover the entire dwelling like a homeowners policy, the premiums are much cheaper than a homeowners insurance policy. (And you can bundle them with auto insurance policies allowing you to take advantage of even more discounts.)
If you have any additional questions, or if you live in the Arvada or Denver Metro area and would like a quote on your renters insurance policy, please contact our office today.

Is the auto insurance different if I lease a car versus purchasing one?

This is a question we frequently receive from our Denver Metro and Arvada clients, so we thought we would share some insight into properly insuring a leased car.
For the most part, buying an auto policy on a leased vehicle is very similar to buying an auto policy on a purchased vehicle.  You will be mandated by the state to carry liability insurance and the bank will require that you carry comprehensive (covers against losses for something other than collision like theft or fire) and collision (covers the damage to the car from an accident with another vehicle or object) coverage to protect the vehicle itself.
However, the leasing company may require you to purchase “gap” insurance.  Gap insurance protects the bank (and you) in the event your vehicle is totaled in an accident and there is a difference in the amount you receive from the insurance company and what you owe to the bank.
Typically, the cost of gap insurance is actually rolled into your lease payments.  The auto dealer typically has a master policy that covers all of their leased cars and charges you for a “gap waiver.”
Gap insurance may be a good idea even if you are purchasing your vehicle.   You can protect yourself from having to come up with the difference on what you owe and the vehicle’s value. Gap insurance isn’t available everywhere, so please call our office if you are interested in receiving a quote.

We promise you will receive top of the line service no matter what type of insurance coverage you are seeking. You can learn all about The Holste Agency and we have the agents you can count on. We are a very desirable Denver Metro Insurance Agency that is growing by leaps and bounds. You can request a consultation today by giving us a call or visiting our beloved website!

Our Denver Metro insurance agency is the best around. We look forward to helping you in your search for insurance. Now is a great time to make an appointment with one of our professionals.

See why we are  the premier Denver Metro Insurance Agency. We work hard to ensure our clients have the best insurance to fit their lives. Come and see us soon.

We take great pride in being the best Denver Metro Insurance Agency. Our excellent reputation is upheld each day. We strive to ensure our clients get the best insurance around. Learn more about what we can do for you soon. Call us for more information.

Now is the time to learn more about our Denver Metro insurance agency. We are on your side! We would like to meet with you to discuss your insurance needs. Now is a great time to give us a call and schedule an appointment. We look forward to speaking with you.

Life insurance can be confusing and difficult to comprehend. We understand the importance of life insurance and we are here to help you get the best insurance for your personal needs.Depending on your business, you may want additional specialized coverages. Feel free to contact us to discuss these coverages in more detail or to discuss other types of coverage. We would like to meet with you soon. Make an appointment with us today!