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.

Do Young People Still Need Life Insurance?

Posted on February 28, 2024February 19, 2024 by admin

If you’re in the Falcon, CO area and have questions about life insurance, Pikes Peak Insurance Agency can help. We know the value of this kind of insurance and how important it is for you to get your questions about it answered. Then, you can choose a policy with confidence and know you’re protecting your family in the event of your death. Even if you’re young, the unexpected can still happen. That’s why a life policy is important for people of nearly any age.

When you choose a policy that covers your life, you’re really ensuring that your family or other loved ones will be fully protected from asset loss after you pass away. If you’re the primary support for your family, for example, they may be unable to maintain their current standard of living without your help. Our agents can help you determine the level of policy you should have.

There’s a lot to consider with a life policy since there are a couple of different types and many different coverage levels. Some companies require more information than others to insure you, and working with an agent can allow you to choose the best policy for your current and future needs.

Contact us at Pikes Peak Insurance Agency today if you’re in the Falcon, CO area and looking for a life insurance policy. We’re here to help you choose the type and level of coverage you need, so you’re protecting your family for the long term. Once you have a policy in place, we’ll also help you update it anytime you need to, such as after a big life event. That enables you to keep your peace of mind, knowing you have the coverage you need for any stage in life.

Setting Expectations For Your Teen Driver

Posted on January 22, 2024January 26, 2024 by admin

Adding a new teen driver to your auto insurance can be an enlightening experience. It can also be a maturing and learning opportunity for your teen. If you live in the Falcon, CO area, Pikes Peak Insurance Agency can help.

Keys to a better experience can include setting appropriate expectations for teens.

Emphasize Keeping a Clean Driving Record

New driver-moving violations can carry severe penalties. These may not only include limited driving privileges but also an increase in insurance rates. Have a serious sit-down discussion with your teen about how critical it is for them to drive safely and obey traffic laws.

Understanding Insurance Responsibility

While it may not be an option to have your teen pay for their own auto insurance coverage, they should bear at least some small responsibility. This may be through maintaining good grades or additional chores at home.

Understanding The Situation Can Be Temporary

Both you and your teen should understand the critical importance of these first few years of driving. Set guidelines for when your teen can drive and how many passengers are appropriate. Discuss the dangers of distracted driving. This is more than a parent being a parent. It is about guiding your teen into responsible adulthood.

Insist on a “Safe” Car”

Cars with good safety ratings can translate to lower rates and safer travel. Set expectations that, as long as they keep their driving record ticket and accident-free, a sportier car may be earned as they prove themselves.

Explore Your Options

At Pikes Peak Insurance Agency, we serve Falcon, CO area families with car insurance for everyone. We can search for offers like those that may be available for multi-car families and good students. We may even be able to help with bundling. Reach out to us to discuss your teen driver and to get an auto insurance quote.

Set the right expectations for your teen driver and set them on the road to safe and responsible driving.

Three Different Types of RV Insurance Available to You in Colorado

Posted on December 21, 2023January 1, 2024 by admin

When you think of an RV, the classic rolling hotel room that dads fill up with their families for road trip vacations comes to mind. The truth is many types of vehicles can fit under the umbrella of "recreational vehicle". At Pikes Peak Insurance Agency, we have a number of Falcon, CO customers who want to cover their fifth wheel, camper van, travel trailer, or motorhome.

Just like RVs, there are many kinds of insurance you can get for them. The following are three kinds of RV insurance to consider.

Three Types of RV Insurance

1. Full-Time Coverage

If you are a person who uses your RV as your primary residence, get full-time coverage for your RV. This is basically like homeowner’s coverage for your recreational vehicle. It covers emergency expenses, medical bills, personal liability for things that happen in or near the RV, and coverage for fees that an HOA charges for damages in common areas in an RV park or neighborhood. Your RV is covered both when it’s on the road and when it is parked with this coverage.

2. Contents Coverage

If you have an RV in Falcon, CO with valuable things inside of it, consider contents coverage. This protects you if the belongings in your RV are stolen. It can also guard you against vandalism in your recreational vehicle. With this, you won’t need renter’s insurance on your RV.

3. Roadside Assistance

Include roadside assistance in your coverage if you are on the road a lot. You will get help if your RV breaks down or you need a tire changed while traveling. There are a lot of things that can go wrong in an RV, and this helps prevent emergencies while you are traveling.

Call Today To Discuss Your Options

If you are on the hunt for quality RV insurance, give us a call at Pikes Peak Insurance Agency. We have helped several customers in the Falcon, CO area properly cover their recreational vehicles.

Riding Together: Understanding Motorcycle Insurance for Group Rides

Posted on November 17, 2023December 1, 2023 by admin

Embarking on thrilling group rides or joining a motorcycle club adds camaraderie to the open road. As your Falcon, CO motorcycle insurance advisor, Pikes Peak Insurance Agency delves into the unique considerations when riding with a group and highlights the balance between group policies and individual coverage.

Group Dynamics: Exploring Insurance Considerations

When riders unite, insurance dynamics shift. Group rides may present a shared experience, but individual circumstances vary. It’s essential to understand the collective and individual aspects of coverage.

Potential Benefits of Group Policies: Unity in Protection

Group insurance policies can offer advantages. They may provide cost savings and streamlined administration. In some cases, a group policy might include benefits tailored to the collective needs of the riders, fostering a sense of unity and shared responsibility.

Importance of Individual Coverage: Tailoring Protection to You

While group policies have merits, they may not fully address individual needs. Every rider has unique circumstances, from the type of motorcycle they ride to their personal riding history. Individual coverage allows riders to tailor protection to their specific requirements.

Balancing Act: Optimizing Group and Individual Coverage

Optimal protection often involves a combination of group and individual coverage. Group policies offer a foundation, but riders should supplement these with individual plans to ensure personalized protection that aligns with their distinct situations.

Group rides epitomize the spirit of community, and insurance should reflect this unity while respecting individuality. By blending the benefits of group policies with individual coverage, riders can hit the road confidently, knowing they have a comprehensive safety net tailored to both the collective and the individual. If you’re looking to purchase motorcycle insurance in the greater Falcon, CO region, let the professionals at Pikes Peak Insurance Agency assist you.

Influencers and Insurance: What You Need to Know

Posted on October 20, 2023November 1, 2023 by admin

More and more people are turning to social media as a side gig, posting content and building followers. While influencers gain access to additional streams of income, they’re also subject to added risk. At Pikes Peak Insurance Agency in Falcon, CO, we help social media influencers secure the coverage they need to protect themselves from theft, lawsuits, and more. Here’s what you need to know.

Why do influencers need insurance?

Influencers are at higher risk of loss for a number of reasons:

anyone who is well-known and perceived to have wealth is at higher risk of being sued, and insurance can provide protection for public figures at higher risk of lawsuit
because influencers often share their thoughts and opinions publicly, they’re at higher risk of unintentionally committing defamation or being accused of defamation – both of which can come with costly consequences without adequate protection
many social media influencers use expensive electronic equipment (or have expensive products on hand) and are at risk of theft or loss

Influencers who are especially successful may need specialty insurance because of their net worth; anyone whose net worth exceeds $500,000 can typically benefit from additional insurance.

What kind of insurance do influencers need?

In addition to general liability insurance, influencers often benefit from umbrella insurance, which covers costs above your general liability limits. The best way to determine the right insurance for your specific business is to meet with a qualified insurance agent.

To learn more about umbrella insurance or get a quote, visit with us at Pikes Peak Insurance Agency in Falcon, CO today. We take protecting influencers seriously – so you can focus on building your reach.

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