From birthday presents to business choices, not all decisions are good decisions. We all make bad choices, your insurance agent doesn’t have to be one of them. Make the choice you won’t regret.
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Good and Bad Choices
Tag: insurance denver co
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
- 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).
Fact Sheet: http://www.rmiia.org/downloads/Auto%20Insurance%20Marketplace.pdf
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.
- Bill link: http://leg.colorado.gov/bills/sb17-181
- 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.
- Bill link: http://leg.colorado.gov/bills/sb17-182
- 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.
- Bill link: http://leg.colorado.gov/bills/sb17-191
- “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 www.pciaa.net
Rocky Mountain Insurance Information Association www.rmiia.org
Benefits of Long-Term Care Insurance
Retirement. A time of relaxation. A time of having no more cares or concerns. A time when you are supposed to finally be able to rest after working so hard for so many years. But what happens when advanced age has an effect on your plans and costs pop up in your time of relaxation? Is your current Medicare insurance going to help you pay for these unforeseen costs? The answer is mostly likely no. Even with Medicare insurance, there will be healthcare needs that unfortunately will not be met as one might expect transitioning into retirement. According to Genworth’s 2015 “Cost of Care” Survey — the average retiree in Colorado will have anywhere from an additional $17,000-$90,000 annually in retirement-specific costs. These costs include payment for Homemaker Services, Home Health Aide, Adult Day Health Care, Assisted Living, and Nursing Home.
So how is a person supposed to manage all of these expenses? Insurance Town & Country recommends looking into Long-Term Care Insurance. This type of insurance will help manage the costs of all the services that Medicare will not cover.
Depending on the coverage of these Long-Term Care Insurance plans, the plans and premium can vary. Knowing which plan is right for you will further help to manage the costs associated with retirement. That starts with knowing your own budget and taking into consideration the affordability of the premiums (which can increase with age). What can you afford on a monthly basis? Do you have substantial assets? How much flexibility do wish to have in your choice of care? All of these questions should be considered when looking into Long-Term Care Insurance. The main goal is to help you remain independent for as long as possible.
Insurance Town & Country is available to help you make the best decisions regarding your retirement. Our experienced insurance experts will help you consider your options for Long-Term Care Insurance and assist you in selecting the plan that’s right for you. Call us today to schedule your consultation, and let your retirement be relaxing! We have offices in Denver (303–388-7216) and Castle Rock (303–688-1251).
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BUY LOCAL
Need Help in Your Insurance Hire A Local Agent
As consumers, we do our best to research the facts and consider our options. However, sometimes we are still left with questions. We need more answers. We need further clarification. This is where the local agent professionals come in.
When you are making a big purchase, such as car insurance, working with a professional local agent can help to ease a lot of your trouble. An insurance agent will work with you on determining which insurance — type and amount — fits your needs. An independent local agent — such an Insurance Town & Country — can take it one step further and help you sift through the many options of insurance providers. Using a local agent will allow you to carefully select financially sound and reputable insurance providers.
Once you are ready to discuss your options for automotive insurance, the professionals at Insurance Town & Country can help you when considering the following questions:
Tips On How A Local Agent Can Help You
- How old is your vehicle? The age of your car can determine the amount of coverage needed. As your vehicle ages, the cost on your policy may be able to be lowered. There might also be the chance for raising your deductible and saving on monthly payments.
- Have you had any big life changes recently? Moves, marriages, and birthdays are all cause for celebration — and possible deductions! Let your insurance agent know of any recent changes. There could be savings waiting for you.
- Are you a multi-vehicle owner? Packaging insurance for multiple vehicles could help you get a discount. Whether you own multiple cars, boats, bikes, RVs or the like, they all need insurance.
- Are all of your assets covered? Aside from your vehicles, insurance needs come in many forms. Whether it’s your home, business, pet, or life, be sure to discuss with your local agent any additional policies you and your family might need.
Call Insurance Town & Country today and speak with one of our insurance professionals. We can help maximize your selection and savings when it comes to choosing the insurance policy for your needs. We have offices in Denver (303–388-7216) and Castle Rock (303–688-1251). Call us today to schedule your consultation!
This year you’re going to do it! You’ve made your resolutions and you’ve already hit the gym a couple of times, but you’re not in the greatest shape. You’re in a vulnerable position where you could easily overwork yourself, strain a muscle, or hurt yourself on one of the machines you’re not quite sure how to use. Not to mention that it’s super cold and icy, what if you slip and fall on the ice or get sick because your immune system is compromised? How are you going to pay to visit the doctor? Let us help.
Insurance Town & Country offers several flexible health insurance policies that fall into various plan categories. Each type of category has its pros and cons, but we’re sure that there is one that meets your needs and fits in your budget. The coverage definitions are listed below, read over the short description of each and contact us at either of our locations listed below for a more in-depth assessment of your needs to find the plan that makes sense for you.
Copay - The copay is the amount of money the insured must pay out of pocket for a particular visit or service.
Coinsurance – Coinsurance means that the insured pays a certain percentage (usually 20% or 30%) of the total cost of medical care. A coinsurance plan may or may not be combined with a copay provision.
Deductible – The deductible is the amount that the insured must pay before the plant starts paying. These plans always cover preventative care services even before the deductible has been reached. A wide range of deductibles are available, depending on whether the coverage is for an individual or family.
Health Savings Account - Health Savings Accounts (HSA) must accompany a high-deductible plan. Participants qualify for a tax deduction on the money they deposit in the account. Preventive care is always included in these plans without having to reach the deductible first.
Denver Office Castle Rock Office
1735 E. 17th Ave. #3 513 Wilcox St. #200
Denver, CO 80218 Castle Rock, CO 80104
Phone: 303–388-7216 Phone: 303–688-1251
Email: contact@insurancedenver.net Email: contact@insurancedenver.net
Merry Christmas to all of our friends, family, clients, and strangers! This December 25th is about much more than exchanging gifts. It is the day Insurance Town & Country, celebrates the birth of Jesus Christ.
This holiday season we at Insurance Town & Country want to do more than just wish you a Merry Christmas and Happy Holidays. We want to thank all of our clients for their business and we want to encourage those of you who are not clients, to give Insurance Town & Country a chance to earn your business. We wish all of you the best in 2016!
Warm regards,
Joan, Jeremy, and the whole Insurance Town & Country Team
The holiday season also means that it’s flu season. High stress, cold weather, and family gatherings make a perfect storm of germs attacking the weakened immune systems of your employees. If you’re employees are sick, it’s best that they can afford great care and stay out of the office while they are on the mend. The next month is prime time for employees to start requesting additional hours, working overtime, and coming in when they should probably just stay home so that they can save up for Christmas gifts. While your workers have good intentions when this happens, it will likely lead to less productive employees and consequently worse customer service and a lower bottom line.
We recommend providing employees with great health insurance options. If your workforce isn’t afraid that getting the necessary medical care and prescriptions will be too expensive, they will be more willing to seek out treatments and preventive care that will keep them healthy, productive, and present at work. Contact us at either of our locations below to discuss your current insurance policies, your company size and the level of care you want to provide. Our Commercial Insurance Specialists will work with you to find a plan that fulfills your needs and fits your budget; after all, an investment in your workforce truly is the gift that keeps on giving.
Denver Office Castle Rock Office
1735 E. 17th Ave. #3 513 Wilcox St. #200
Denver, CO 80218 Castle Rock, CO 80104
Phone: 303–388-7216 Phone: 303–688-1251
Email: contact@insurancedenver.net Email: contact@insurancedenver.net
As you join your family and friends around the dinner table this Thanksgiving and give thanks for all you have, we want you to feel safe knowing that your belongings and loved ones are protected. The holidays are packed with love and excitement, but they can sometimes lead to a number of insurance claims. Below we have described some of the most common holiday insurance claims and linked to more information about the policies that we provide which protect against those kinds of claims. We hope that you don’t need to make a claim with us this holiday season, but we’re always glad to know that you are protected if you do. Contact us at either of our locations listed below if you have any questions regarding any new or existing policies.
Auto Insurance Claims: Worsening weather, darker evenings, and holiday stress lead to a lot of automobile collisions. Whether you hit an ice patch in the road or get struck by a drunk driver, a good auto insurance policy can help get you back on the road without taking presents from under the tree.
Health Insurance & Life Insurance: As we mentioned in Auto Insurance Claims, a lot of people experience holiday stress. This could come from the anxiety of hosting Thanksgiving Dinner for your family, exhaustion from working a seasonal part-time job, or even the depression of not being able to make it home to see your loved ones. In any case, this increased stress can lead to serious medical issues that require hospitalization and in some cases result in death. We offer Health and Life Insurance Policies that can help keep your family protected from possible bankruptcy due to a head-of-household illness or death.
Homeowner’s Insurance: Big meals and exuberant decorations, both of these are fire risks. Deep fryer fires, Christmas tree fires, or knocking over the Menorah, our traditions can leave our homes in an unfavorable position during the late months of the year. Additionally, strong winds, extreme cold, and other severe weather can do a lot of damage to your house. Finally, if you are travelling for the holidays your house is at risk for burglary and theft, without sufficient Personal Property Insurance you may be left out in the cold if your presents end up under someone else’s tree.
Denver Office Castle Rock Office
1735 E. 17th Ave. #3 513 Wilcox St. #200
Denver, CO 80218 Castle Rock, CO 80104
Phone: 303–388-7216 Phone: 303–688-1251
Email: contact@insurancedenver.net Email: contact@insurancedenver.net
At Insurance Town & Country, we pride ourselves in our customer service. Our customers are our friends and family, they are our neighbors and the members of our professional groups. It is our relationship with our customers, our relationship with you that drives us to work harder to make sure that your insurance policies work for your growing business. Below we have listed several of our popular business insurance policies with a short explanation of their purposes. If you have any questions or would like to discuss the insurance needs of your small or medium business, please contact us at either of our locations listed below.
- Commercial Property Insurance
- Protects your Building and Business Personal Property.
- Commercial General Liability
- Prevents major financial losses if your business is sued or held legally responsible in the event of bodily injury or property damage.
- Commercial Auto Insurance
- Provides a diverse and extensive set of policies to protect the mobile parts of your business, including their cargo.
- Business Owners Policy (BOP)
- Combines various coverage options into one convenient package for more benefits than a typical business insurance policy and better savings through competitive pricing.
- Inland Marine Insurance
- Protects your mobile equipment and tools while not on your premises from theft and damage, including during transportation or at a different location.
- Commercial Umbrella Insurance
- Provides additional coverage for your business for a variety of situations including accidental injuries, libel, slander, or invasion of privacy, company vehicle accidents, and more.
- Workers Compensation
- Covers the expenses that originate from an employee being injured on the job, including medical expenses/treatment and the replacement of lost wages from injury time off.
- Crime Insurance
- Protects your business against crime and employee dishonesty.
Denver Office Castle Rock Office
1735 E. 17th Ave. #3 513 Wilcox St. #200
Denver, CO 80218 Castle Rock, CO 80104
Phone: 303–388-7216 Phone: 303–688-1251
Email: contact@insurancedenver.net Email: contact@insurancedenver.net
Veteran’s Day can raise several emotions for different people, pride, patriotism, and honor, are a few that come to mind; but for many families with loved ones deployed overseas, Veteran’s Day is a reminder of the fear and uncertainty of the safety of their sister, father, cousin, son, best friend, or significant other. In America, we are fortunate to have a diverse population who celebrate this holiday in their own unique way.
Everyone at Insurance Town and Country wants you to thoughtfully experience Veteran’s Day this year. Whether you make the time to speak with your loved ones based far away, volunteer or donate to veteran support group, or just spend time appreciating the beautiful parks, towering skyscrapers, and museums filled with art and history that American Veterans have risked their lives to provide unto you, please keep the brave men and women of our military in your thoughts today.
Thank you to all of the members of our armed forces for your service and valor. We invite you to stop by either of our locations and tell us about American History… Tell us Your Story.
Forever in gratitude,
Joan, Jeremy, and the Insurance Town & Country Team
Denver Office Castle Rock Office
1735 E. 17th Ave. #3 513 Wilcox St. #200
Denver, CO 80218 Castle Rock, CO 80104
Phone: 303–388-7216 Phone: 303–688-1251
Email: contact@insurancedenver.net Email: contact@insurancedenver.net