Do You Have Gaps In Your Insurance Coverage?

There is nothing worse than thinking that your insurance policy will cover your damages after a certain disaster, and then finding that a planning gap in your insurance portfolio has left you needlessly exposed to financial loss. Luckily, if you know how to identify these gaps, you can get coverage to fill them and avoid the devastating financial consequences they can create.
Take a look at a few of the areas many people find gaps in their coverage and see if you share this needless overexposure.

• Floods and Earth Movement: Your home insurance policy may pay for a lot of things, but it won’t pay for damages that occur as the result of flood or earth movement. Instead, you need a separate policy or, in the case of earth movement, a special endorsement should your insurance company allow it.
• Un- and Under-Insured Drivers: Insurance may be required in your state, but that doesn’t mean that every driver is compliant, and if you don’t have un- or under-insured motorist coverage then you may be paying out-of-pocket for damage to your vehicle caused by one of these non-compliant drivers.
• Theft and Vandalism: Having the state-required auto coverage is great, but who pays if your car is stolen or vandalized? And what about if you have a collision? Comprehensive and collision coverage ensures that you get what you deserve after an accident and that you can keep driving, but they aren’t required by your state, so you’ve got to identify the need for this insurance and fill it on your own.
• Preventative Care and Prescriptions: If you have a major medical insurance policy then you might be covered for emergency events and major surgery, but what about your preventative care and pharmaceutical needs? A health insurance policy that covers your everyday medical care would fill that gap and help you get care before you desperately need it.

We know how to find gaps in your insurance portfolio before they get the best of you. Don’t let your savings fall into one of these planning snafus—instead give us a call at Premier Group Insurance and get fully covered by your Colorado Car Insurance and anything else you may need.

The Difference between Cheap and Affordable

When you are shopping for auto insurance, you’re bound to run into countless ads for cheap auto insurance coverage. Why get a cheap policy when you can go for a better option, an auto insurance policy that is affordable?

Cheap and affordable may seem like insignificant distinctions, but the gulf between the two could not be wider.

The Problem with some “Cheap” Insurance

Cheap insurance is the kind of policy one gets just to satisfy state regulators. It has minimal coverage for bodily injury and property damage liability, the minimum required for personal injury protection, and deductibles so high that your savings account would weep if it had tear ducts. Often, the limits required are not high enough to actually cover the average dollar amount of claims in your area and since you have no protection for collision or comprehensive, there is no mitigation for damages your car endures during an accident. Between the lack of real, meaningful coverage offered by these policies and the sky-high deductible, the premium is cheap.

The Benefits of Affordable Protection

Affordable policies, on the other hand, offer meaningful benefits at a price that fits easily within the confines of your budget. They protect you against realistic costs for bodily injury and property damage liability, provide enough personal injury protection to shield you from damages, and also give collision and comprehensive benefits that protect you from the financial damages associated with fire, theft, accident and more; something a cheap policy wouldn’t dream of doing. Finally, affordable policies protect policyholders against damages caused by uninsured or underinsured drivers. Sometimes, you can even create an affordable policy with additional protections, such as loss of use.

In addition, affordable policies have deductibles that are reasonable. They help reduce the premiums by shifting some of the risk onto the policyholder, but they are figures that a policyholder can afford. People often forget that deductibles on auto insurance policies are per incident, not per year. A high deductible could spell trouble for a policyholder’s financial goals if they have more than one incident in a year. Low limits don’t actually stop you from being liable for damages you cause, they simply limit the insurance company’s responsibility to pay. You must pay out-of-pocket for anything that exceeds them.

When you work with the agents at Premier Group Insurance for your auto insurance needs, we create a policy that’s affordable. A policy that offers you and your family meaningful protection with premiums that fit your budget. Give us a call for your free Colorado Car Insurance quote today.

Life Insurance for Business Owners

As a business owner, there are many people depending on you. Your family relies on you to provide for them and help meet all the financial obligations you share; your employees rely on you to give them work and pay them for their time; your business partners and shareholders need you to keep the business running and profitable; and your clients and customers rely on you to continue to provide an excellent service or product.

If you should pass away without securing you obligations with life insurance coverage, all of the people who depend on you could be left flailing. Instead of setting your business, employees and family up for financial stress after you’re gone, consider some of the following life insurance options.

• Life insurance with a buy-sell agreement: If you have a business partner (or partners), and your family isn’t interested in taking your business shares, then a buy-sell agreement funded with life insurance proceeds would give your partner the money they need to pay your family for your shares.
• Key person insurance: Your business relies on your expertise and reputation in order to remain fully functional. If you pass away while the business is in operation then there could be a loss of income until a suitable replacement is found and hired. Also, the finding and hiring of a suitable replacement could take more time and money than your business partner expects. A key person insurance policy gives your business the money it needs to replace you and keep the business running in the interim.
• Personal life insurance: Outside of the funds received from the buy-sell agreement, your family may need additional funds to help them satisfy personal expenses and obligations such as the mortgage balance, college tuition and credit card debt.

Next, you need to decide what type of life insurance policy is best suited to your needs:

• Permanent: A whole, or permanent, policy is one that pays a benefit to your beneficiaries no matter when your death occurs, as long as the premium is paid on time and the policy is in-force. In addition, it accrues cash values that can be used for loans.
• Term: Term insurance policies pay death benefits for a limited period of time (the term of the contract) and only as long as premium payments are made on time and the policy remains in-force. Term policies do not accrue cash values.

Want to learn more about how a life insurance policy can be designed to serve your family and your business? Consider adding this policy to your Colorado Business Insurance and call an agent at Premier Group Insurance to discuss all the options available.

Commercial Auto Insurance and Your Future

Knowing whether or not your need commercial auto insurance is a question asked by nearly all business owners.

Not having this policy is usually justified by the fact that only the owner drives the company vehicle, or that the business doesn’t even own a vehicle—while employees using their own vehicle for errands are typically overlooked.

The truth of the matter is this: if you have a vehicle that is used for business or if you have employees that use their own vehicles for company errands, then you need commercial auto insurance.

Insurance serves to protect your finances and your future. Having auto insurance means you care about being insured after an accident. But when you try to stretch this same policy to a company vehicle, you’ll find your claims denied and your policy dropped in the event of an accident. Having your claim denied can hurt your business, hinder your finances, and be devastating in general.

There’s no need to risk the future of your business and your family when there are so many ways to have a commercial auto insurance policy that covers everything you need. With drive-other-car endorsements and non-owned coverage, cover yourself, your family, and your employees.

In this economy, it’s easy, and sometimes necessary, to cut corners and save money for your business. But if cutting those corners exposes you to more risk than it’s worth and more than you can afford, it will only lead to bigger problems. So don’t take unnecessary risks with your Colorado Car insurance. Speak to a trusted agent at Premier Group Insurance to get the kind of coverage that will protect your family, your business, your employees, and your future.

Best way to Pay Your Home Insurance Premiums

When you purchase a home insurance policy to protect the value of your dwelling, outside structures, and contents while safeguarding your savings against certain liabilities, you have many different options for premium payments. As with almost any insurance policy, you can pay premiums four different ways:

• Annually
• Semi-annually
• Monthly
• Quarterly

But it isn’t just your payment intervals that are flexible; you can also choose up to three different methods for your payments:

• Payment via automatic bank draft
• Check or money order
• Web payments initiated through the insurance company’s website (not available in every instance)

Once you review all of your options for home insurance premium payments, the question really becomes: Which, of all these methods and possible combinations, is the best? Let’s take a look at a few different points.

The most cost-effective methods for payment: Annual premium payments result in less money spent on premiums since insurance companies charge additional fees when payments are broken up. You can also save money by making premium payments online or by automatic bank draft since you won’t need to mail checks. However, if you forget a payment is due and end up with an insufficient funds charge, you will increase your overall costs.

Methods that help ensure continuing coverage: You never want to find out that you don’t have home insurance coverage after you’ve suffered an insurable incident and if you pay your premiums annually, you won’t have to. You also won’t have to worry about a lapse after an insurable incident that prevents you from accessing your checks and calendar.

Automatic bank drafts offer another way to help prevent lapses without opting for annual payment intervals, but you must stay vigilant about ensuring that you have the money in your bank account before the draft occurs or you could end up not making the payment and lapsing your policy.

No matter what your financial situation or personal preference, you can find a payment interval and method that suit your needs. And if the same method is less suitable the following year, you can ask your agent to change it before renewal.


Find out about your Colorado Home Insurance by premiums by contacting Premier Group Insurance today!

Steer Clear of Expensive Car Insurance Mistakes

As the economy continues on its downward spiral, consumers across the nation are tightening their belts and trying to save money wherever they can. Unfortunately, many people don't realize that they're losing untold amounts of money by overpaying on car insurance.

If you're looking to save on auto insurance, steer clear of these common car insurance blunders:

Blunder #1: Not shopping around for the best car insurance quoteIf you go with the first car insurance company that comes your way, you could be losing hundreds of dollars each year. It's worth your while to shop around and try to find the best deal out there. When it comes time to renew your insurance, it may be easy to stick with the same insurer you've had for years-but you won't save any money that way. Car insurance companies will calculate your rates differently, so you may be able to find a much better deal from someone else.

Blunder #2: Choosing your state's minimum coverage requirements
Although you may be tempted to choose the bare minimum coverage amounts required in your state, this could cost you in the long run. Just because you are in compliance with state laws doesn't mean that you're fully protected. If you're underinsured, a major car accident could wreak havoc on your personal finances. Everyone's situation and budget is different, so talk to your financial advisor to discuss how much coverage you need.

Blunder #3: Opting for the lowest car insurance deductible
In the car insurance world, the deductible is the amount of money you'll have to pay out of pocket on car repairs before your insurance company starts covering costs. Many consumers make the mistake of assuming the lowest deductible will save them money. However, this is not always the case.

Generally, if you go with a lower deductible, you'll have to pay a higher premium. In the long run, you may be able to save more money by choosing a high deductible insurance plan with a lower premium. Do your homework to figure out what makes the most sense for your unique situation.

Blunder #4: Choosing car insurance based only on cost
While you should definitely shop around for a great price on car insurance, this isn't the only factor you should consider. As you compare car insurance, look at the various benefits each insurer has to offer. Choose the coverage that best suits your needs and then compare prices.

Blunder #5: Missing out on major discounts
If you're a safe driver or if you insure your car and home with the same company, you may be eligible for a discount. Take some extra time to look into what discounts are available from various insurers. You could save hundreds of dollars this year.

Make sure you're paying the best price for your Colorado Car Insurance with Premier Group Insurance today.

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.