Avoid Cheap Home Insurance

Standard insurance policies only pay a percentage of the value of a home's contents. The contents are assessed at a cash value, which takes depreciation into consideration. As such, the policy will only reimburse what the items were worth at the time of the incident that led to a covered loss. If you have some fairly recent furniture, electronics and appliances, it may be in your best interest to purchase additional replacement cost coverage. This coverage offers reimbursement amounts to fully replace items.

How Cash Value Compares to Replacement Costs

A five-year-old television that cost $800 new may be valued at half of its life, or $400, under a typical homeowner's policy. If it is under replacement cost coverage, though, the full $800 will be reimbursed. However, you need to be careful and read all of your policy documents concerning coverage and have a clear understanding of how the process works. Some replacement policies may only cover four times the current cash value of an item. An item valued at $100 may only be covered for $400, even if it would cost more to replace it.

Making Sure That Your Claim Is Fair

After a covered loss, an adjuster will inspect the property and review the documents concerning your damaged or destroyed contents. An assessment will be prepared that details the goods that need replacement, along with replacement cost estimates. It is a common practice for adjusters to use computer programs to calculate these figures. Once the claims supervisor has this report and approves it, a check will be issued to you. Before you accept this check, be sure to look over everything in the report and make note of any disagreements.

Seek a Second Offer

Over the years, you should have been keeping records of your major purchases and saving the receipts as proof of purchase. This information is your arsenal when the claims adjuster seems to think that big box retailer prices are good enough to replace your solid oak bedroom set. If the claims adjuster doesn't give a fair assessment, you can compose a politely written complaint that details:

• Your specific objections
• Your preferred resolution
• When you expect a response

The insurer may ask for additional details, so be ready to provide any requested documentation or statements.

If you have any questions about claims or Colorado home insurance, then feel free to contact us at 877-430-0092.

How does Summer Weather affect my Home Insurance Claim?

When most people think of weather-related home insurance claims, they think of violent hurricanes, tornadoes and flash flooding. However, a prolonged period of hot weather can also wreak havoc on a building.  High temperatures are often welcomed after a long and cold winter, but many homes are put at risk of structural damage unless proper precautions and maintenance routines are followed.  Home insurance is based on risk, and policy-holders who make regular claims will be considered a high risk.  The result -- higher insurance costs, and in some cases, the refusal of coverage altogether.  Although precautions cannot guarantee the avoidance of structural damage, they will reduce the risk significantly.

Wildfire

States such as California are susceptible to the risk of wildfire throughout the year.  Fire damage does not have to be complete for an insurance claim to be necessary, but a few precautions should reduce the likelihood of having to make a claim to a minimum.  The use of fire-resistant roof shingles and concrete tiles can protect a home from the flying embers that often trigger secondary fires.  The fitting of specialized, fire-proof air vents will allow the free flow of air while stopping embers from entering a property.  Any shrubs and plant-life can be a fire hazard when located close to a property; however, surrounding your home with a 'circle' of trees and foliage could act as a buffer.  The fitting of dual-paneled glazing made with tempered glass will delay a fire's progress into a home.     

Click for two more weather-related items that may affect your home insurance claims.

Buying a home is often the single biggest investment a person will make during a lifetime, so protecting that investment is incredibly important. Give us a call today at 877-430-0092 to discuss ways of protecting your home from the cost of prolonged periods of hot weather.  You can also get an online quote for Colorado home insurance on this website.

Colorado Home Insurance: Preparing Your Home for Vacation

Packing your bag and reserving your hotel room aren’t the only things you must do before you take off for a vacation. You should also prepare your home to lessen the risk of burglary or accident while you are away. A house sitter can be the ultimate defense against these risks, but if you can’t afford to hire someone to live in your home while you’re gone, try these easy and cheap prep tips instead.

Prepare in case of a robbery: No matter how many safety measures you take, you could still be burglarized. Prepare for the worst by making a list of all of your possessions. It will be a big help when you need to straighten things out with your Colorado home insurance company. If you have a video recording device or can borrow one, take a video inventory. Save the video in a safe place such as a safe deposit box. If you have large items, etch your driver’s license number into them. It will make them much easier to identify if they end up at a local pawn shop. Nobody expects to be a victim of crime, but it does occur. By taking a moment to safeguard your house you can greatly reduce your chances of being a victim or make it easier to recover from a robbery.

Timed lights: Set your lights up on an automatic timer so that they go on and off at specified times of the day. Some of these gadgets even allow you to set the activity to randomly light the inside of your home. This will make it look as though there is someone home, even though there isn’t.

Check your smoke detectors: Before leaving, check your smoke detectors to make sure the batteries and units are still functional. If it’s close to your designated time to change the batteries, go ahead and change them before you leave.

Stop mail and newspaper delivery: A few days worth of mail in the mailbox and a pile of newspapers by the front door are sure signs that you aren’t home—and create the closest thing to an engraved invitation a would-be burglar could ask for. Talk to your post office about having your mail held while you are away and call your newspaper to ask for delivery to be stopped. You may even ask about having the papers you miss donated to your local school or library.

Turn everything off: Go through your home before you leave and turn everything off. Double check automated items like coffee makers to ensure that they don’t start their normal daily routines unattended.

Lock windows and doors: Make sure all your windows and exterior doors are locked before you leave. Don’t take for granted that they are; complete a physical check before you go.

Shut off the water valve in winter: Because there is a risk of frozen pipes bursting, make sure to turn off your water valve when you go away for a winter vacation. Even if you aren’t quite into the snowy months, you might want to shut off the water against an unexpected cold snap.

Install an alarm system: Consider installing an alarm system before you go on vacation. It doesn’t have to be a monitored system, but simply a few door and window alarms from your local home improvement store. If you do this, you may want to notify a neighbor and give them the name and phone number of a relative who has access to your home. That way, if the alarm goes off, a relative can be notified to check out your house, call the police and shut off the alarm when danger has passed.

Sometimes, it’s the little steps that count the most in prepping your home before you go away. Using these tips can make the difference between coming back to a catastrophe or to an intact home after a restful vacation.

Call us at 877-430-0092 for a comprehensive Colorado homeowners insurance quote.

How is my Homeowners' Insurance Premium Calculated?

How insurance premiums are determined will vary from insurance company to insurance company, however, most companies will apply the following factors when deciding what to charge you for your home insurance.

Locality - Insurance companies will weigh how safe your neighborhood is, how near your house is to a fire station, and the chance for "act of God" claims.

Building materials - Is your home made of wood, stucco siding, brick, or stone?

How old is your house? - newly constructed houses can usually receive a lower rate

Coverage amount - the total coverage you have on your house, your house's belongings, and the liability cap are all figured in the amount of your policy.

Assessment of loss - what your homeowner's policy will cover in the occurrence of a claim, if it will pay the actual cash value or the cost to replace missing or destroyed contents.

Deductible - what is the dollar amount you are going to pay before your insurance takes over.  If you have a homeowner's loan, the max limit of your deductible will typically be greater than the amount set by your lender.

Call us at 877-430-0092 for a comprehensive Denver homeowners insurance quote.

Comparing Homeowners Insurance Quotes

It is easy to get tunnel vision when looking for homeowners insurance quotes. Sometimes, in the midst of many quotes and hours spent looking for policies, shoppers can resort to simply narrowing their selection down to price and choosing the cheapest quote rather than considering the actual value of the policies they are considering buying compared to all the other policies they have looked at. But doing so isn’t the best way to make sure you are getting the best and most affordable policy to actually fit the individual needs of your home and your family. Instead you must evaluate all aspects of the policy, from coverage to deductibles, and the cost in order to get the best deal. Here is a list of items you should review before you commit.

Call us at 877-430-0092 for a comprehensive Denver homeowners insurance quote.

How much insurance do I need on my home?

It is estimated that about 60 percent of American homes are underinsured by an average of 22 percent. Your home is probably your largest single investment, so insuring it adequately is an important part of maintaining your financial independence.

You should have an amount of insurance that is sufficient to rebuild your home in the event it is totally destroyed by a fire, tornado, hurricane or other insured catastrophe. The amount of insurance should cover the cost of rebuilding your home at current construction costs, not including the value of the land. Don’t think about the price you paid for your home or the appraised value. The cost of rebuilding could be more or less than the price you paid or could sell it for today.

For more about Denver Homeowners Insurance, head over to Premier Group Insurance and read the rest of this article.

Denver Homeowners Insurance

At Premier Group Insurance we specialize in Denver Homeowners Insurance as well as auto & business insurance in Denver, Lakewood, Aurora & surrounding areas.

We are in our third decade of being in business and we have more than 80 locations in Colorado and the West. We have an experienced, professional and courteous staff with over 80 experience combined. Our bilingual staff has provided fast and friendly service at the beginning and at renewals to thousands of happy customers.

Mission Statement

We will provide our clients with quality insurance products at affordable rates based upon a foundation of integrity and value.

We will provide the highest level of customer service and strive for perfection with everything that we do.

We will protect people from the unforeseen risks of everyday life, help recover from it and fulfill their dreams.