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The Importance of Reviewing Your Boat/Watercraft Insurance Policy Annually

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Fulfilling the dream of owning a boat or watercraft brings with it a rush of excitement and the call of freedom and adventure. However, just like your vessel needs routine maintenance, so does your insurance policy. At Laine Insurance, providing various types of insurance across Colorado, including boat and watercraft insurance, we’re here to explain why conducting an annual review of your boat insurance is essential.

Remain Protected Amidst Changing Circumstances

Changes are inevitable in life, and subsequently, your insurance needs can evolve, too. Perhaps you’ve upgraded your boat, added new equipment, or begun using your watercraft for different purposes, such as occasional rentals or races. Changes like these can significantly affect your coverage needs. An annual review ensures your policy remains current and comprehensive.

Adapt to Regulatory Alterations

Insurance requirements aren’t constant. Newly enacted state or federal regulations might necessitate alterations to your coverage. An annual policy review guarantees compliance with new laws, helping evade potential penalties or coverage gaps.

Benefit from Updated Discounts

Insurance companies routinely revise their discount schemes. Whether it’s a reward for completing a safety course or savings facilitated by bundling policies, an annual review can unearth new avenues for cost reduction. At Laine Insurance Colorado, we’re committed to helping you secure the finest coverage at an attractive price.

Peace on the Waves

Ultimately, conducting a yearly policy review imparts peace of mind. The assurance of being fully covered allows you to relish your marine aventures worry-free.

Are you eager to review your policy? We are here to assist you with boat and watercraft insurance policies. Contact Laine Insurance if you’re in Colorado to ensure your boat is in expert hands.

Starting A Family? Why You Should Consider Life Insurance

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Family is a pillar of love and support that one can always rely on. It is reassuring to know that your family will still be cared for even if something unfortunate were to occur. Life insurance serves as a safety net in such scenarios.

At Laine Insurance, serving Colorado, we assist customers in finding the right life insurance policy tailored to their needs. We can guide you through various available policies and help you find one that aligns with your budget.

What Is Life Insurance?

Life insurance is a type of insurance that pays a benefit upon the insured’s death. It comes in many forms, and your policy may function differently from another person’s.

Term life insurance is a policy type that remains active for a predefined period (usually between 10 and 30 years). If the insured dies while the policy is active, their beneficiaries receive a sum of money. However, if the insured dies after the policy expires, their beneficiaries do not receive life insurance from that policy.

Permanent life insurance is a policy type that stays active as long as the premiums are paid. Upon the insured’s death, their beneficiaries receive a sum of money.

Who Benefits from Life Insurance?

People often opt for life insurance when they start a family or take dependents under their care. You have the power to choose your beneficiaries. Please remember to keep your insurance policy and beneficiaries list up to date!

How Do I Get Life Insurance?

At Laine Insurance, serving Colorado, we help our customers choose the right life insurance policy for their needs. Contact us today to learn more about our life insurance products and discover the one that best suits your budget.

Three Types of Commercial Insurance That Your Business May Need

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As a business owner, taking steps to protect your enterprise is crucial. Having the appropriate commercial insurance policies is one of the critical ways to ensure that protection. Since numerous types of commercial insurance policies exist, the ones your business requires will depend on your specific operations. Factors such as whether you have employees, the type of products or services you offer, and your business location play a role in determining the insurance policies you need. When it’s time to secure your commercial policies, contact us at Laine Insurance in Colorado.

Worker’s Compensation

Worker’s compensation insurance protects your business against accidents that your employees could have at work. Employees can get injured through falls and other accidents, even in seemingly safe environments like offices. If this happens and your business isn’t insured, you will be liable for the resulting medical and legal costs. Worker’s compensation insurance protects your business from the financial distress that a workplace accident can cause.

Commercial Auto Insurance

All vehicles that your business owns must have commercial insurance policies. If an accident occurs, a personal auto insurance policy will not cover costs relating to a business-owned vehicle. Having the right commercial auto insurance is the only way to ensure that the repairs and injuries resulting from an accident will be covered.

Product Liability

Businesses that sell products should consider product liability insurance. Products you sell can cause accidents that could lead to injuries. If your business is not insured for this, it would have to pay for all related costs, such as medical bills and legal fees. Having product liability coverage offers financial protection against such incidents, contributing to your business’s financial security.

Secure Your Colorado Commercial Insurance

There are many types of commercial insurance that may apply to your business. Call Laine Insurance in Colorado to learn more about the coverage that best meets your needs.

Common Components of Home Insurance

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Your home insurance policy from Laine Insurance protects your Colorado home in various ways. The general home insurance policy covers the structure and its contents under distinct policy types. It encompasses perils coverage, which covers damage from occurrences like fire, tornado, and wind. Also, these policies include liability coverage. Let’s analyze each of these coverage types separately.

Perils Coverage

All home policies include perils coverage. You select the degree of perils coverage you want, starting with a policy that covers the ten most common perils and ranging up to one that covers all perils. When you purchase all perils coverage, it doesn’t list each peril in the policy because it covers every conceivable peril, no matter how unique or unusual. Perils coverage applies to your home’s structure and its contents.

Liability Coverage

Liability coverage applies to the entire home, yard, and everything therein. If someone sustains injuries while visiting your home and jumping on a trampoline, the liability segment of your coverage provides you financial protection by paying for the injured person’s medical costs and any settlement resulting from the injury.

Other Structures Coverage

Some home insurance policies include coverage for other structures, including structural and contents coverage for sheds, detached garages, workshops, etc. If your garden shed gets damaged by high winds and it also harms your lawnmower, this coverage settles for repairing or replacing the shed and the mower.

Let Us Help You Design Your Home Policy

You aren’t a cookie, so don’t select cookie-cutter home coverage. Let Laine Insurance assist you in designing a home insurance policy that fully covers your Colorado home and the possessions you store inside it.

Auto Insurance and the Senior Driver

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House Bill 4611 could raise auto insurance rates for senior drivers. This measure would limit factors that auto insurers can use to set rates that didn’t advance. This bill may never leave the committee, as many on the committee believe the bill to be unfair. It may well be. However, there are some things that senior drivers may want to know about auto insurance. Seniors who have been driving for a while may think they know all they need to know. However, there are a few new tricks the old dog needs to know. 

Why the Rates are Suddenly Higher

It isn’t simply inflation. As skills decline with age, car insurance costs rise due to the elevated risk they pose. The average yearly cost for auto insurance for seniors is $2150 per year. Because of this, the senior driver may find it prudent to shop around for more affordable rates. A safe driving record will result in less expensive auto insurance rates. You may want to look into low-mileage discounts if you don’t drive around much anymore. In any case, keeping in good physical and mental condition as you age is a good idea so that your driving skills stay optimal. 

Laine Insurance Serving Colorado

If you live in Colorado, you know that driving conditions are challenging in the best times. No matter your age, auto insurance is a must in this state, and we at Laine Insurance are dedicated to helping our clients find the policy that best suits their needs. 

RV Insurance Recommended for Homemade Campers

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Laine Insurance, serving Colorado, has some excellent news for RV travelers. You can acquire insurance for your homemade camper. 

We can help you find the right coverage for your unit. However, we have to follow protocol. Keep in mind that different Colorado counties have their own rules. 

Here’s an example of regulations from Pitkin County:

According to Pitkin County, a homemade trailer does not have a VIN. It also weighs less than 2000 pounds. RV users must obtain a trailer identification number before using it like an RV. 

Issuance of insurance requires several documents as proof. One of these includes a written statement you completed with the DMV. 

A weight slip and VIN inspection must also be performed, among other steps, for authorized use of your homemade trailer. Once approved, you will receive license plates and a title, which you have to apply for separately. 

Insuring Your Homemade Trailer 

When you insure your homemade trailer, you must provide accurate information about it. For instance, we ask our clients what kind of trailer it is, such as make and model. We also need to know how you use it and what its contents are. 

Frequency of use is another consideration. We will also take into account state-approved safety features in your unit. 

What’s Covered 

You may find some of the same coverage available for your homemade trailer as for a vehicle. Some include collision coverage, which can pay for claims after a crash. Comprehensive insurance may include coverage for storm, animal, or debris damage. 

One type of RV coverage may not fit all. If you’re unsure how to insure your specific unit, please get in touch with the Laine Insurance team in Colorado to learn more. 

What are Common Motorcycle Insurance Exclusions?

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The State of Colorado enforces stringent regulations for motorcycle drivers, mandating them to have insurance policies that cover minimum bodily injury and property liability requirements. While insurance providers typically pledge to cover liabilities resulting from motorcycle operations, certain exclusions apply in specific situations. If you reside in Colorado and seek clarification regarding insurance nuances, including policy exclusions, the team at Laine Insurance is at your service.

Identifying Common Motorcycle Insurance Exclusions

Insurance premiums for motorcycles are grounded in specific assumptions and calculated risks. Therefore, insurance policies normally exclude coverage for accidents resulting from high-risk or illegal activities. Each insurance company can demarcate behaviors excluded from their policies. Thus, it is crucial to review these exclusions with your agent. Standard exclusions typically encompass riding activities such as:

  • Riding Recklessly
  • Engaging in illegal activities
  • Operating under the influence of alcohol or controlled substances
  • Intentional damage to others’ property
  • Participation in organized races or timed events
  • Intent to cause injury to oneself or others
  • Transporting passengers or delivering products commercially

Notably, your insurance policy must specify authorized users of your motorcycle, while lending your bike to unlisted individuals could invalidate your coverage.

Your policy should articulate its exclusions; consult your agent to understand and accept them. If such exclusions aren’t acceptable, your agent might recommend alternatives or supplementary policies, like race day or commercial vehicle policies.

Laine Insurance: Your Partner for Motorcycle Insurance Coverage

At Laine Insurance, we serve the Colorado community with comprehensive motorcycle and other insurance services. Please drop by our office or call us at 719-696-7923 for further assistance.

Insurance Coverage Guidelines for New Boat Owners and Operators

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Securing the Right Boat Insurance: A Comprehensive Guide for New Owners

If you have recently become the proud owner of a boat, understanding the specifics of insurance coverage is crucial. This guide provides some essential insurance criteria that every new boat owner and operator should consider.

The Impact of Boat Type on Insurance

Different types of boats serve various purposes and will consequently impact the insurance coverage you need. For example, if you are using your boat to transport additional passengers, you’ll need to ensure your policy provides sufficient liability coverage. This type of coverage will protect you against costs associated with damages and injuries deemed your fault.

How Your Usage Schedule Affects Insurance

The frequency with which you use your boat also influences your insurance needs. Should you operate your boat year-round, you may require more comprehensive coverage. It’s advisable to compare rates and coverage types offered by various insurance providers and choose a plan that aligns with your boat usage schedule.

The Impact of Storage on Insurance Policy

Your boat storage strategy could affect both your insurance policy type and cost. Opt for a storage method that provides optimum protection against weather elements. Utilizing a fitted boat cover can help safeguard your boat on dry land. If your property lacks storage space, look into what options a storage rental facility offers and secure an area that adequately protects your boat against rain, wind, and extreme temperatures.

Contact Laine Insurance for Assistance

Our knowledgeable agents at Laine Insurance are at your service for advice and help regarding your boat insurance documentation process. Get in touch with us today and simplify your journey into enjoying your new boat in the beautiful Colorado waters.

Can I Have Multiple Life Insurance Beneficiaries?

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At Laine Insurance in Colorado, we help our clients provide for their loved ones or leave a legacy after they die with life insurance policies. While you might not want to think about what could happen to your loved ones after you pass or how you’ll be remembered, it’s better to plan for the future than stick your head in the sand. If you are putting off getting a life insurance policy because you worry about choosing one person to be the beneficiary of your policy, the good news is that you can generally have more than one life insurance policy, excluding exceptions or policies that may have terms that don’t allow this.

Can I Have More than One Life Insurance Beneficiary?

Typically, you can have more than one life insurance beneficiary. You can split your death benefit, which is the benefit that is paid to the listed beneficiary after you pass away, by percentage to any number of parties. If you have multiple children you’d like to give a death benefit, you can split it by percentage when you purchase the policy or update it.

What’s the Benefit to Having More than One Beneficiary?

You might want to list one person as your beneficiary on a life insurance policy such as a spouse. Even so, it can be a good idea to list more than one person so you have someone as a backup if that person has already passed by the time you pass. Having multiple beneficiaries can also make it possible for you to give a “gift that keeps on giving” by donating a percentage of the death benefit to charity. 

Reach Out To Us

For information on beneficiaries and more in a life insurance policy, contact our team at Laine Insurance in Colorado!

Four Basic Commercial Insurance Claims You May Need to Make

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Running a business can bring a few surprises routinely. It is just part of a business owner’s lifestyle. In these situations, you may need to file an insurance claim. These are four of the most basic ones for anyone who owns a business. A commercial insurance claim with Laine Insurance will recover losses and alert the insurance company to the situation.

Four Basic Commercial Insurance Claims You May Need to Make

1. Property damage claims cover damage to a client’s property. For example, you own a lawn care business. Your employee spills weed killer all over your customer’s prize roses by accident.  Filing the property claim covers the cost of the ruined roses. Maybe instead you’ve knocked a glass of water over onto your client’s phone during a consultation. Your coverage may pay for damages to or replacement of the phone.

2. Product liability covers any injuries a customer obtains through the use of your product. It covers medical costs and helps prevent being sued by taking responsibility for a product that is broken, has parts missing, or other issues that cause an injury.

3. Colorado nature and weather damage claims should be filed when weather damage occurs to your business property. Since policies differ on which of these are included, always check the fine print when filing a claim, 

4. Theft and robbery are claims most business owners make sooner or later. You might have had a shop break-in, with the thief making off with tools or merchandise. Perhaps an employee is stealing money. Filing helps you to recover money and property.

Call Today To Discuss Your Options

Laine Insurance knows that even these four common claims can be stressful. We are dedicated to guiding business owners on what and when to file for any kind of business insurance claim in Colorado.