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Business Owner Mary

Like you, Mary struggles with questioning if her business is safe. And it frustrates her at work, because of questions like, “What do I need to do to protect against?… How can I know my business is safe?… and Who can I call to get help?

Oh No!

That’s before Mary… asks a professional. Professional Advice answers all those problems for Mary. 

  • Legal Questions = Ask an Attorney
  • Financial Questions = Ask a CPA
  • Insurance Questions = Ask your agent

If you don’t know your agent personally, Mary goes to Insurance Town & Country. See how happy Mary is!

Call you agent: 


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What’s Fueling Colorado Car Insurance Rates?

Colorado drivers are likely asking themselves “why are my car insurance rates going up?”

Startling insurance loss trends are emerging that put Colorado in the top ten states for growth in insurance claims and costs to pay those claims.

Coloradans are now starting to see those skyrocketing costs add up to higher insurance premiums and they want to know why. Some quick facts to help you better understand Colorado’s volatile auto insurance marketplace, along with potential solutions that would benefit all Colorado drivers.

  • Bottom-line: There are more auto accidents and each accident is more likely to end up in costly litigation. 
    • Colorado ranks 4th in the U.S. for growth in number of auto insurance damage claims filed since 2013 with the 2nd highest increase in collision repair costs. Colorado insurance companies recorded a loss of nearly 18% on physical damage in 2014 (Source: Fast Track Monitoring). 
      • Traffic fatalities increased 24% from 2014 to 2016 (Source: CDOT).
    • Colorado’s damaging hailstorms cause millions of dollars in damage annually. September 2014 recorded the state’s 4th most costly hailstorm, a July 2016 Colorado Springs hailstorm resulted in the 6th most costly and 2009 the most expensive hail season with $1.4 billion in insured losses (Source: RMIIA).
    • Colorado’s “Lawsuit Tax.” It’s no coincidence that every time you turn on the TV, radio or see an RTD bus or train pass by there is another trial lawyer ad promising you that suing your insurance company will win you more money than the lottery. Unfortunately, due to Colorado’s lawsuit laws that may be true, but insurance companies aren’t the only ones paying. All Colorado drivers ultimately foot the bill for an out-of-control system pushing insurance costs and rates higher. Marketplace drivers like legislative mandates that incentivize lawsuits and exorbitant jury awards are key cost drivers. Colorado Auto Insurance

Fact Sheet: 

Ask your Colorado State Legislators to support and VOTE YES on these 4 Colorado auto insurance reform bills:

  • SB-181 “Phantom Medical Costs”: allows Colorado juries to have access to both billed and actual paid amounts for medical care to make more informed and fair settlement judgments. Juries are currently only allowed to see astronomical medical bills initially charged, but never actually paid to treatment providers. These “phantom costs” dramatically drive up damage awarded by the courts. 
  • SB-182 “Uninsured Motorists’ Double Dipping”: allows for an offset with combined coverage in a claim, so when med pay is initially paid by your insurer for medical bills that amount would go toward the total amount of a UM/UIM claim, rather than creating a situation where the settlement is more than limits paid for and creating a double dipping coverage situation. The bill would also no longer allow drivers to “stack” all the uninsured motorist policies in their household to collect multiple coverage for one uninsured motorist claim. 
  • SB-191, “Market-based Prejudgment Interest”: Colorado law mandates insurers pay 9% interest on lawsuit awards. Given that most investments don’t provide a return of 9% such a high statutory interest rate creates incentive to file a lawsuit and a disincentive to settle a lawsuit. This bill ties judgement award interest to a market-based index to reflect current economic conditions. 
  • Protection Against Vendor Lawsuits”: disallows third party vendors, such as roofers, auto body repair shops from stepping into shoes of insureds, without their knowledge or permission, to sue insurance companies under a contract that is with the policyholder. Settlements represent at least double damages and attorney fees—legal costs that are passed on to all consumers.

During the past five years, premiums collected by insurance companies can’t keep up with skyrocketing claim costs—costing all Colorado auto insurance consumers higher premiums.

Information & Resources: Property Casualty Insurers Association of America

Rocky Mountain Insurance Information Association

Auto Insurance Business Auto

Keep Calm and Save Money — OLD

Keep Calm and Save Money

We’ve all heard the saying “A penny saved is a penny earned” — but sometimes it’s almost impossible to think about savings when most of your earnings are already accounted for. If bills, rent, student loan debt, credit cards, and the like are exhausting all of your current income, putting any amount into savings may be the last thing on your mind.

But, what happens when your car suddenly needs an emergency repair? Or your beloved pet gets sick and has to be rushed to the ER? Or what if your comfortable salary gets cut in half? These are the unfortunate moments when any amount in savings (small as it may be) will help to prevent you from going even further into debt.

Regardless of any other debt, it is important to start building a buffer of savings, ideally enough to cover several months of living expenses. Start small, even a few dollars can build up over time.

  • Just Get Started. It’s important to do your due diligence first. This means setting a budget that includes paying yourself. Determine how much you can realistic set aside from every paycheck. Whether it’s $2 or $200, it needs to be an amount that you can stick to. It helps to automate this process too! If your savings is removed before you even see your paycheck, it will eliminate the temptation to spend.
  • Under the Mattress is Not a Good Place to Save! If you are making the effort to create a budget and set aside some cash, you want your money to work for you as best as possible. Instead of a low-interest savings account, save your cash in an account that earns at least 1% in interest. Keep an eye on monthly maintenance fees and FDIC insurance. It’s also a good idea to keep this savings account in a bank that is separate from your checking account. This will prevent constant visibility and further temptation.
  • SAVE MONEYBe Sure with Insurance. Once your savings process is under control, it’s a good idea to review the rest of your expenses. Your emergency fund can only go so far. Various insurance policies — auto insurance, homeowners insurance, renters insurance, etc. — can help protect you and your family without draining the bank.

Call Insurance Town & Country today and speak with one of our insurance professionals. We can review your current insurance policies and make sure they fit with your current budget and life needs. We have offices in Denver (303–388-7216) and Castle Rock (303–688-1251). Call us today to schedule your consultation!

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    Business Auto — Does Your Current Insurance Cover Your Hobby-Now-Turned-Business?

    Commercial Auto Insurance

    Once you find the perfect combination of doing what you love and making money, what else could you worry about? You have turned your hobby into a money-making business, and now life is good. What could go wrong?

    It is important to remember that starting a new business is a whole new venture when it comes to the rules of insurance. If you have not had previous experience with running a business, it may come as a surprise that if you are using a vehicle for business, you may be required to hold a separate auto insurance policy.

    The insurance professionals at Insurance Town and Country can help you navigate your way through these different policies as you begin to understand the unique needs of your business.

    Generally speaking, commercial auto policies should be considered when a vehicle is the following:

    • Belongs to a corporation/partnership and used for business purposes
    • Driven by employees
    • Used to haul heavy duty equipment
    • Use for pizza delivery and paper routes
    • Heavy enough to require state or federal filings

    As a general rule of thumb, vehicles that are larger have the potential to cause more damage. It is important to remember this when you are using your vehicles to clear snow or deliver baked goods.

    Better understanding your business’ needs will allow the folks at Insurance Town and Country to answer your questions as you chose a package that is best for you. Having the right commercial auto insurance policy will keep your services running as they should and provide some peace of mind.

    Call Insurance Town & Country today and speak with one of our insurance professionals. We have offices in Denver (303–388-7216) and Castle Rock (303–688-1251). Call us today to schedule your consultation, and let us help you better understand your business!

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