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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.

What if My Homeowners Insurance Claim is Denied?

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Nothing can be more frustrating and upsetting than having your Colorado home incur some type of damage, and then you file a claim through your homeowners’ insurance policy, only to have it denied. Unfortunately, not every homeowners’ insurance claim is going to be approved, but having yours denied can be like a blow. So, just what do you do if you’ve filed a legitimate claim, and it was denied? 

Read the Explanation for the Denial

Your insurance company is likely to either contact you by email or by regular mail with the denial letter. This letter will contain a thorough explanation as to why your claim was denied, as well as what you can do about it. 

Contact Your Agent

If you want further clarification as to why your claim was denied, your agent can provide that for you. The agent can also explain what steps you need to take to possibly get your claim approved. 

File an Appeal

Each time your insurance company makes a decision, it is always your right to file an appeal if you don’t agree with their decision. By filing an appeal, you’re forcing your insurance company to revisit your claim and reconsider it. It’s a good idea to submit supporting documents, if possible, such as police reports, photos, etc.

Reach Out To Us

Instead of becoming upset because your homeowners’ insurance claim was rejected, you should take action. Whether you decide to appeal or request mediation, chances are you’ll eventually get the results you’re looking for. If you live in Colorado and you’d like to find a new insurer, give us a call at Laine Insurance. At Laine Insurance, we go above and beyond to ensure our customers are happy, and we make the claim process easy. Contact us today for a quote, and one of our licensed agents will be happy to assist you. 

What will happen if I have a lapse in auto insurance coverage in Colorado?

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Carrying auto insurance is a necessity for any car owner in the state of Colorado. Not only is this required by law, but it also offers ideal coverage that can prove to be quite helpful in some situations. While you may have insurance today, there will come a time when the policy expires. When this happens, it is very important that you either renew it or enter into a new policy. A variety of negative outcomes could occur if you do have a lapse in this insurance. 

Face Punishment

One challenge that could arise if you have a lapse in coverage is that you can face punishment. Those in this state are required by law to carry auto insurance. If you do not have the minimum level of insurance, you can face various penalties including fines and even loss of driving rights. Further, you may find yourself in default on a car loan agreement. 

Lose Coverage

With a lapse in coverage, you will also lose coverage in your insurance. An auto insurance plan can be designed to protect both you and your vehicle. In many situations, this offers very helpful financial protection. If you do not have the right insurance due to a lapse, you can lose your coverage entirely. This could require you to cover such costs out of pocket. 

Consult With Us

If you do not continue to carry a full auto insurance plan in Colorado, there are a variety of potential negative outcomes. Because of this, you should always ensure you are current with your insurance. When you are looking for a new plan, you can call our team at Laine Insurance. At Laine Insurance, we will always work hard to ensure you choose an auto plan that is right for your situation. 

Don’t Forget RV Insurance When You’re Exploring the Rockies in Colorado!

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Local adventure enthusiasts know that cruising down the road in your RV is an ideal way to explore the majestic Colorado Rockies. 

The winding mountain roads of the Rockies can be challenging to navigate, so having RV insurance is a must when exploring Colorado’s rugged terrain. RV accidents can happen, and without adequate insurance, you may find yourself responsible for damages to your RV property or even bodily injury claims for more severe accidents. 

Laine Insurance Can Help Protect Your RV from Natural Disasters, Unpredictable Weather, and Theft

Colorado’s Rockies have unpredictable weather patterns, including sudden snowstorms, hailstorms, and torrential rain. 

Hailstorms and Severe Weather Protection

  • Hailstorms and severe thunderstorms can leave behind dents or scratches in your RV’s paint or siding. 
  • Water leaks and other damages resulting from bad weather can enter RVs, jeopardizing their structural integrity. 
  • Cracks and leaks in RVs are incredibly damaging and must be repaired by a licensed technician as soon as possible. RV insurance can help cover damages resulting from natural disasters like these and other unexpected events. 

Comprehensive Protection for Campers 

Theft of personal property and vandalism of your RV are concerns when your RV is left unattended for long periods — even when visiting some of the most upscale RV resorts and campgrounds.

Get peace of mind when you get comprehensive RV insurance coverage that protects your Motorhome, towable, or pull behind and your belongings from theft or damage. 

Laine Insurance in Colorado can help you choose an insurance policy that meets your family’s needs

Knowledgeable insurance agents can talk to you about the variety of policy coverages and add-ons like emergency roadside assistance towing insurance features that can provide you with even more coverage.