How Often Should I Update My Life Insurance Policy?

Posted on November 25, 2024November 20, 2024 by admin

Life insurance is designed to protect your family from financial ruin after your passing. It can cover large bills such as mortgage payments and college tuition. Alternatively, your beneficiaries can use the money to pay for day-to-day living expenses such as groceries and utility bills. However, to ensure your immediate family receives maximum benefits from your policy, you’ll want to update your life insurance coverage periodically to ensure it meets your needs.

When to Update Your Life Insurance Policy

There is no recommended time frame for updating your life insurance policy. Instead, it would be best if you did so whenever significant changes to your current situation occur. These changes include marriage, divorce, and the birth or death of a child or spouse. Furthermore, you may also want to update your policy if there are significant changes in your financial situation. For instance, if your spouse stops working to stay home and take care of the kids, you may need additional coverage to support them in the event of your passing. If you decide to buy a home or invest in your business, you may want extra coverage to ensure large new bills will be fully covered if you die unexpectedly.

Call Pikes Peak Insurance Agency in Falcon, CO for Help Updating a Life Insurance Policy

At Pikes Peak Insurance Agency, we understand the importance of up-to-date life insurance coverage. We specialize in helping Falcon, CO, residents update existing life insurance coverage, pick a new life insurance policy, or bundle a life insurance policy with other forms of insurance coverage. Contact us at your convenience to learn more about our insurance policy options or get a quote on the policy of your choice.

Add-ons to Your Auto Insurance That Protect Your Valuables

Posted on October 21, 2024October 18, 2024 by admin

At Pikes Peak Insurance Agency, we respect our Falcon, CO, neighbors and customers. One of our goals is to help each individual who comes to us for auto insurance leave our offices with a policy that meets all their needs. Nearly every insurance commercial talks about custom policies, and we agree that a custom policy best serves each policyholder.

Creating a Custom Auto Policy

Our insurance agents help each customer create a policy that provides them with the needed coverage. We do this by talking with you to determine which coverage options you need beyond the state minimums for liability. Adding collision, comprehensive, roadside assistance, and rental coverage can help a policyholder save big if an accident occurs.

Going Beyond Liability

The liability coverage the state requires each driver to carry protects the other people on the road. The optional coverage you add to your policy protects your vehicle and person.

Collision: reimburses you for repairs to your vehicle incurred in any type of collision, including single-vehicle. You may have to pay a deductible.
Comprehensive: reimburses you for repairs to your vehicle incurred from any peril named in the policy, such as vandalism, hail, tornado, etc. You may have to pay a deductible.
Roadside assistance pays for a tow truck if your vehicle breaks down or an accident occurs. It also covers running out of gas, vehicle re-entry if you lock yourself out, and other related items.
Rental coverage: pays for a rental car if your vehicle incurs damage or has to go into the shop for repairs.

Upgrade Your Colorado Auto Insurance Today

Contact Pikes Peak Insurance Agency to upgrade your auto insurance with optional coverage. MakeEnsurer auto coverage protects you financially while you traverse the roads of Falcon, CO, and the surrounding area.

Why RV Insurance is a Must-Have for Exploring the Colorado Wilderness

Posted on September 30, 2024September 26, 2024 by admin

The Beauty of Colorado’s Wilderness: An Adventurer’s Guide to RV Insurance

The splendor of the Colorado wilderness calls for deep exploration from outdoor enthusiasts. Brave adventurers, unconcerned about diving deep into the woods while journeying in their RVs, safeguard their adventures with comprehensive insurance. This provides protection for them, their passengers, and their recreational vehicles from a variety of risks.

Learn more about liability and comprehensive insurance options for RV enthusiasts from Pikes Peak Insurance Agency in Falcon, CO.

The Significance of RV Insurance in the Exploration of Colorado’s Wilderness

Investing in comprehensive RV insurance for your travel trailer, fifth wheel, pop-up camper, or motorhome is a primary way to financially secure your vehicle from the monetary implications associated with an RV accident.

Comprehensive insurance may also protect your personal belongings in the event of an accident, theft, vandalism, or natural disaster that causes structural damage to your mobile home while you explore the Colorado wilderness and beyond.

Key Elements of Comprehensive RV Insurance for Colorado Explorers

Adventurers who have dared to challenge the Rockies and wilderness in Colorado understand the importance of investing in a comprehensive policy. This can safeguard their recreational travels from the following potential risks.

Coverage for Off-Road Travel Incidents
Medical Expenses Related to Altitude Sickness
Risks Associated with Wildlife Encounters
Emergency Roadside Assistance for Towing, Winching, Lockouts, and Jumpstarts

It’s crucial to note that the previously mentioned examples of potential risks are just a few of the many off-road incidents that adventurers can experience when responding to the call of the wild.

Speak to a licensed and knowledgeable insurance agent at Pikes Peak Insurance Agency in Falcon, CO to learn if these options are available for your RV or travel trailer.

Comprehensive Vs. Collision Coverage

Posted on August 30, 2024August 22, 2024 by admin

Motorcycle owners in Falcon, CO know the importance of having motorcycle or vehicle insurance. Drivers are more likely to get into an accident because something as minor as grass on the road can result in the bike skidding sideways. Motorcycles are significantly more straightforward to steal compared to larger vehicles. When it’s time to get insurance, you’ll decide between comprehensive and collision coverage, but what’s the difference? We’ll help you learn the basics.

Collision Coverage

This type of coverage is designed to protect you in an accident. It often kicks in regardless of who’s at fault, but discussing the details with an agent at Pikes Peak Insurance Agency is important. Collision coverage frequently requires a deductible that must be paid before insurance kicks in. This coverage usually covers the damages and repairs to your motorcycle after an accident, ensuring you only have to pay a fraction of the cost it usually takes to get back on the road.

Comprehensive Coverage

Comprehensive coverage usually covers other incidents. For example, it may cover damage from weather incidents, such as hurricanes or tornadoes. Many policies can also cover theft, making theft a key component of motorcycle insurance coverage. Motorcycle owners often opt for comprehensive coverage to cover things out of their control and other types of coverage. You can get a comprehensive policy that covers more than one thing to ensure your motorcycle stays in excellent condition. This insurance usually requires a deductible.

Contact Pikes Peak Insurance Agency in Falcon, CO

It’s important to note that coverage in Falcon, CO varies depending on the individual policy. Many clients work with agents to determine the level of coverage they need for their motorcycle. Agents at Pikes Peak Insurance Agency will listen to your concerns and help you find the coverage necessary to give you peace of mind. Contact us to learn more about your coverage options today.

Libel and Slander in Umbrella Insurance and How to Stay Protected

Posted on July 30, 2024July 25, 2024 by admin

A critical coverage offered by umbrella insurance is protection against libel and slander claims. Understanding umbrella insurance around Falcon, CO, and how to stay protected can help safeguard your financial well-being and reputation.

Understanding Libel and Slander

Defamation, a broad category that includes libel and slander, can have severe financial consequences. Libel involves written defamatory statements, while slander is about spoken defamatory statements. Both can damage your reputation and lead to legal action, with significant financial implications. In the digital age, where the risk of being accused of defamation is higher, umbrella insurance becomes a crucial part of comprehensive liability protection.

Coverage Under Umbrella Insurance

As the name suggests, Umbrella insurance extends your liability coverage like an umbrella, protecting you from the financial storm of libel and slander lawsuits. If you’re sued for making defamatory statements, your umbrella policy is there to help cover unwanted and extra costs, and any settlements or judgments awarded against you. This coverage is invaluable, given the potentially high costs associated with defamation lawsuits, which can quickly exceed the policy limits.

Staying Protected

To stay protected from libel and slander claims, consider the following steps:

Be Mindful of Your Communications: Think carefully before posting or saying anything defamatory. Avoid making unverified statements about others, especially on public platforms.
Understand the Law: Familiarize yourself with defamation laws in your jurisdiction to understand what constitutes libel and slander.
Secure Umbrella Insurance: Ensure you have an umbrella insurance policy with adequate coverage limits to protect against potential defamation claims. Review your policy regularly.

Pikes Peak Insurance Agency Is There For You

Pikes Peak Insurance Agency is here for you when you need insurance information. Our services are available at the Falcon, CO, locations and surrounding areas. Contact us today.

Is Your Boat/Watercraft Insurance Up to Date for Summer Fun?

Posted on June 28, 2024June 27, 2024 by admin

Having a boat or other watercraft can be a great way to enjoy the summer months, but it’s crucial to ensure the safety of yourself and others when out on the water. For those in the Falcon, CO area, contacting us at Pikes Peak Insurance Agency can help you secure the boat/watercraft insurance policy that suits your needs. Rest assured, you can set sail for summer fun knowing you have appropriate and comprehensive coverage that gives you peace of mind.

The Importance of Regularly Updating Your Insurance Policy

After owning a boat or watercraft for some time, you may not think much about its insurance coverage, renewing it each year without a second thought. Perhaps you only insure it when in use, adjusting the policy’s specifics as the weather warms up. Either way, your policy might not be up-to-date or cater to your needs, which could put you and others at risk on local waterways.

Working with Dedicated Agents for Personalised Coverage

Fortunately, by working with our dedicated agents, you can make important updates to your boat or watercraft policy. This allows you to focus on the exciting adventures awaiting you in the summer months rather than worry over camera angles if you have sufficient coverage. The last thing you would want is to make a claim only to discover that you weren’t adequately insured for any arising issues. We aim to mitigate that risk and ensure your policy is the best fit for your particular situation.

Ready to Update or Secure a New Policy?

Contact us at Pikes Peak Insurance Agency today if you’re in the Falcon, CO area and are looking for a new or updated boat/watercraft insurance policy. We’ll have you shipshape for summer adventures in no time.

Insurance costs and what it means to our clients

Posted on June 18, 2024June 18, 2024 by Chris Wood

Education helps consumers understand the many influences of a hard market. What is a hard market? The hard market is the upswing in the insurance market cycle, when premiums increase, coverage terms are restricted, and capacity for most types of insurance decreases. Rates are increasing – coverages aren’t as good, non renewal notices are being issued and people are frustrated – why? There are a couple reasons. Extreme weather conditions in Colorado in particular are becoming more frequent. We no longer have a “fire season” rather 12 months of the year are now a fire risk. The intensity and frequency of storms involving hail has increased. It is getting harder to get underwriters to approve requests for homeowners insurance and underwriters are asking for more proof (e.g. more pictures of roofs and shingles etc.). The construction industry in the U.S. has been experiencing an extreme skilled labor shortage in the past couple of years. Due to the shortage, supply chain issues and other problems in the construction industry have arisen.

We would like to point out however that the hard market in the insurance world is not only a result of severe weather conditions increasing in our state and labor shortages but more so of inflation. Gas prices have increased, interest rates have gone up, the cost of groceries have increased, and the cost of homes and vehicles has risen. Why would we assume insurance would not be affected by inflation like everything else? So as it stands the insurance industry is combating natural disasters in our state as well as inflation, labor shortages and rising material costs and trying to keep rates low. It’s not easy. Ideally we need our rates to coincide with normal inflation which in our office means anywhere between 0-12% increases. With inflation being how it is we are facing 100% increases. With many factors affecting the hard market, we do get asked a lot what we think is going to happen and if the hard market is going to improve. We hear you all and we understand your frustration. We are all facing tough times in all aspects of living. Although our weather exposure may not change, we personally think inflation WILL change for the better in the next 12-18 months. In our opinion, this is not the new norm. We have hope that these times will change for consumers and we are not stuck in this hard market forever.

Pikes Peak Insurance Agency understands and will stand with you through these hard times and do our best to protect what you value. Hope is on the horizon.

Shield Your Assets: Umbrella Insurance Insights

Posted on May 29, 2024May 29, 2024 by admin

In today’s litigious society, having an extra layer of protection can make all the difference, and that’s where umbrella insurance comes into play. At Pikes Peak Insurance Agency, we provide valuable insights to residents of Falcon, CO, helping them understand how umbrella insurance can safeguard their assets beyond the usual limits of standard policies.

Umbrella insurance is designed to kick in when the coverage limits of your homeowner’s or auto insurance are reached. It covers the excess liability claims for damages and legal fees, which can mount up quickly, even if you are not found at fault. This makes it a critical piece of coverage for anyone who wishes to protect their hard-earned assets from unforeseen liabilities.

For those living in and around Falcon, CO, where family and outdoor activities often lead to unexpected risks, umbrella insurance provides extra peace of mind. Whether it’s a serious auto accident involving multiple vehicles or an injury on your property, the financial consequences can stretch well beyond the basic coverage limits of your existing policies. Pikes Peak Insurance Agency is dedicated to helping you understand these risks and the importance of additional protection.

As a community-focused agency, Pikes Peak Insurance Agency is committed to serving the needs of Falcon residents. We’re here to guide you through the complexities of umbrella insurance and help tailor a policy that ensures your lifestyle and assets are adequately protected against large claims and lawsuits.

We encourage you to contact us today to learn how umbrella insurance benefits you and your family. Let Pikes Peak Insurance Agency help you secure a safer, more protected future. Protecting yourself now means securing your peace of mind for the days to come.

Protecting Your Property | Flood Preparedness and Insurance Insights for Falcon, CO

Posted on April 29, 2024April 29, 2024 by admin

Understanding the Importance and Need for Flood Insurance in Falcon, CO

Water is essential for life, but uncontrolled can lead to devastating situations. Even minor flooding can result in extensive property damage, stressing the importance of being flood-prepared with adequate insurance. At Pikes Peak Insurance Agency, we aim to ensure homeowners in Falcon, CO, fully understand their flood insurance obligations.

Flood Insurance – Essential Protection for All

A prevalent misconception regarding flood insurance is that only residents of floodplains require it. However, the NOAA National Severe Storm Laboratory reports that floods account for more fatalities each year than tornadoes, lightning, or hurricanes.

Ensuring Adequate Coverage

As FEMA emphasizes, even an inch of water can wreak havoc. Standard homeowner’s policies often do not cover floods. To prepare for any severe weather, you will need to secure a separate and comprehensive flood insurance policy.

Reliable Coverage with Pikes Peak Insurance Agency

We understand the insurance needs of our customers in and around Falcon, CO. With Pikes Peak Insurance Agency, you’ll receive reliable insurance coverage designed to weather life’s unexpected storms.

What Happens During a Condo Insurance Inspection

Posted on March 29, 2024March 25, 2024 by admin

Condo insurance inspections play a crucial role before finalizing the insurance policy for your condo. If a condo inspection is in the near future, it is important for you to understand the key steps involved.

Purpose of the Inspection

Why is an inspection required? It’s simple. Insurance companies perform this inspection to determine the level of risk associated with insuring your condo. This risk level affects your insurance premium and the kind of coverage necessary.

The inspection will identify any existing damage in your condo. If severe damage is found, it’s crucial to address it immediately to maintain the overall condition of your residence.

Evaluation of the Structure

An essential part of the condo inspection is the assessment of its structure. This includes assessing the type of construction materials used, their condition, and their age. Walls, flooring materials, and ceiling materials will be carefully inspected to ensure no leaks or structural issues.

Additional Steps Performed During Inspection

The inspector might also evaluate your home’s HVAC, plumbing, and lighting systems. They will ensure that these are functioning correctly and determine the state of all materials used.

Inspection Report

You will receive a detailed report of the inspector’s findings after the inspection. Understanding this report is crucial as it will reveal whether your condo requires any immediate repairs.

Reach Out to Pikes Peak Insurance Agency

Once the inspection is complete, contact our agents at Pikes Peak Insurance Agency. With vast experience serving Falcon, CO, our agents will guide you in choosing condo insurance products that guarantee maximum protection for your residence.

Slide 1

Slide 2

Slide 3

Slide 4

Slide 5

Slide 6

Slide 7