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7495 McLaughlin Rd, Ste. 221,
Falcon, CO 80831

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Author: admin

Types of Life Insurance Policies

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Life insurance policies are created specifically to provide financial support to the beneficiaries of a policyholder in the event of their death. There is an array of different types of life insurance policies you can choose from to suit the specific needs and goals that you have.

The agents at Pikes Peak Insurance Agency serving the Falcon, CO area want you to know about the most common types of life insurance policies you can pick from, and a detailed list has been provided for you below.

Common Types of Life Insurance Policies

Term Life Insurance:

This type of policy provides coverage for a specific term, usually ranging from 1 to 30 years. If the policyholder outlives the term, the coverage ends, or another policy must be created with a new term.

Whole Life Insurance:

This type of policy offers coverage for the entire lifespan of the policyholder. This is the most popular type of life insurance policy since you can borrow money against the cash value of your policy, which can assist you in paying off certain bills, such as your mortgage or vehicle before you pass away. This leaves your family with less stress and more time to grieve and heal after your death without having to worry about paying major bills.

Universal Life Insurance:

This type of policy offers the flexibility to adjust the premium payments and death benefits over time. This means you can increase or decrease the coverage amount and premium payments to coincide with your and your family’s changing needs.

Contact Us Today

To create the best life insurance policy for you and your family, contact the life insurance agents at Pikes Peak Insurance Agency serving the Falcon, CO area today!

Why is auto insurance necessary in Falcon?

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For those that are living in the Falcon, CO area, owning a car is a great idea. When you are a vehicle owner here, you will have a much easier time getting around the community and surrounding areas. When choosing a new car to buy or lease, you also need to consider your insurance needs. There are various reasons why having an auto insurance plan is a necessity for car owners here. 

Coverage is a Requirement

A reason that many people in this part of Colorado will want to have an auto plan is that it is a requirement. If you want to drive any type of vehicle on a public road in this state, you will be required by law to carry at least liability insurance. This can ensure that you are able to cover any damages that may be caused in an accident and not having coverage can come with various consequences. 

Financial Support

It is also a good idea to have an auto insurance plan because it provides financial support and protection. When you are insured with an auto policy, it will give you coverage to replace or repair your car if you incur certain forms of loss. Further, it will ensure you have resources if you need to pay for damages that are caused in an accident. 

Give Us A Call

Having an auto insurance plan is always a good idea if you are a car owner or lessor in the Falcon, CO area. When you are looking to buy a car here, it is imperative that you speak with our team at Pikes Peak Insurance Agency. As you are looking for coverage, our professionals at Pikes Peak Insurance Agency can answer your questions and use their experience and knowledge to help you build a plan that is ideal for your situation. 

The Ins and Outs of RV Insurance: What You Need to Know

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Are you planning to purchase a recreational vehicle (RV) and hit the open road? Are you already an RV owner in the Falcon, CO area looking to renew your insurance coverage? Before taking any trips in your RV, it’s essential to understand the ins and outs of RV insurance.

Different Types of RV Insurance Coverage Available

RV insurance is similar to car insurance; however, there are several specialized coverage options that you should consider when evaluating your RV insurance needs.

Liability

Liability insurance is a must for any RV owner. It covers damages you may be liable for caused by your RV, such as medical expenses and property damage from an accident.

Collision and Comprehensive Coverage

These two types of coverage provide protection if your vehicle is damaged in an accident or by a natural disaster, such as flooding. Collision covers damage to your RV caused by contact with another vehicle or object, while comprehensive covers damage caused by weather, theft, and other conditions not related to a collision.

Uninsured/Underinsured Motorists Coverage

If you’re involved in an accident with a driver who doesn’t have insurance or enough coverage to pay for damages, this type of coverage can help protect you from expensive out-of-pocket costs.

Determining Your Needs

Before shopping for RV insurance, it’s crucial to determine what coverage levels you need. Consider factors such as the age, value, and type of your RV, how often you plan to use it, and how much risk you’re willing to assume. Our experienced agents at Pikes Peak Insurance Agency are here to help ensure you get the right coverage for your needs.

No matter what type of RV insurance coverage you’re looking for, Pikes Peak Insurance Agency has the knowledge and experience to provide you with personalized service in the Falcon, CO area. Our team is dedicated to understanding our clients’ individual needs and providing them with tailored RV insurance solutions that meet their needs and budget. Contact us today to get started!

Motorcycle Insurance for Bikers in Colorado

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Motorcycle insurance is a must for any rider in Colorado. The countryside offers beautiful scenery and many opportunities to enjoy the open road on two wheels. However, biking on Colorado highways and scenic roads has its share of risks. Hazardous road conditions for bikers can include more than motorcycle accidents.

Why Bikers Need Motorcycle Insurance 

Today’s long-distance bikers are up against severe weather conditions, wildlife crossings, and many other dangers that motorcycle riders face every day. It is important to have the right motorcycle insurance coverage to protect you and your bike in the event of an unexpected mishap that leads to damage, injury, or financial loss.

Colorado law requires all motorcyclists to carry liability insurance in order to ride legally on public roads.

Colorado Motorcycle Insurance: Liability vs. Comp and Collision

Liability motorcycle insurance coverage protects you financially if you’re found at fault for an accident that causes injury or property damage. Colorado-area bikers should know that liability insurance only goes so far. This means it won’t pay for your own injuries or damage to your bike if you’re in a motorcycle accident.

Talk to an experienced motorcycle insurance agent at Pikes Peak Insurance in Falcon, CO. Our licensed insurance agents can talk to you about why riders should also carry comprehensive and collision coverage in addition to liability. Your trusted agent can explain how this optional coverage will help you financially if you’re involved in an accident — no matter who is at fault.

Reach Out To Us

No one wants to think about being in a motorcycle accident. But if it happens, you’ll be glad you have the right insurance coverage in place. Don’t wait until it’s too late – get protected today with a free motorcycle insurance quote from Pikes Peak Insurance Agency in Falcon, CO!

Top 10 Reasons to Buy An Umbrella Insurance Policy

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Considering buying an umbrella insurance policy in Falcon, CO? Experienced insurance agents at Pikes Peak Insurance Agency can help.

Below are the top ten reasons you need an umbrella insurance policy to protect your home and family. 

Top 10 Reasons to Buy an Umbrella Insurance Policy

#1. – Peace of Mind

To protect your home and family in the event of a lawsuit.

#2. – Extended Coverage

To provide additional liability coverage beyond your standard homeowners or auto insurance policy.

#3. – Protect Your Assets

To safeguard your assets and future earnings potential.

#4. – Protect Your Business

If you own a business, an umbrella policy can help protect your assets from business liabilities.

#5. – High Risk Protection 

An umbrella policy can protect you if you live in a high-risk neighborhood. 

#6. – Extended Liability 

If you entertain guests frequently at your home, an umbrella policy can help protect you from potential liability claims.

#7 – Young Drivers

If you have teenage drivers in your household, an umbrella policy can help offset the increased risk they pose.

#8. – Housing Expenses

An umbrella policy can cover temporary living expenses if a covered event damages or destroys your home.

#9. – Bundled Discounts

Get a discount on your umbrella policy premium if you purchase other insurance policies (e.g., auto, homeowners, boat) from them.

#10. – Lawsuit Protection

An umbrella policy protects you financially in case of a lawsuit. 

Give Us A Call

Contact the experts when you’re ready to buy an umbrella insurance policy in Falcon, CO and surrounding areas. 

Licensed insurance agents at Pikes Peak Insurance Agency can provide a free quote and the best options for protecting your home and family. 

Boat Insurance: Do You Need it on Private Property?

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Buying a boat is exciting, and you want to protect it. From that perspective, the logical question arises—do I need boat insurance if I only use it on private property near Falcon, CO? 

Our team of insurance experts at Pikes Peak Insurance Agency is here to explain the different types of boat insurance coverage options.

Types of Coverage

Boat insurance has several components, some of which are required by law and others are at your discretion. One type of coverage is boat liability insurance, which covers bodily injury or property damage caused by your vessel. This includes medical payments for injuries sustained on or even near your boat. In most states, liability coverage is mandatory if you take your boat out in public waters.

Another type of boat insurance is collision coverage, which pays for damage done to your own vessel due to an accident with another boat or object. Collision coverage is usually optional but provides the most comprehensive protection against expensive repair bills. If you choose collision coverage, keep in mind that a deductible may be associated with filing a claim.

Finally, comprehensive coverage pays for non-collision-related incidents such as theft or vandalism of your boat and its equipment. Comprehensive coverage also pays for damages caused by natural disasters such as hurricanes and floods. Comprehensive coverage often comes with a higher premium than other types of boat insurance but can help protect you from unexpected losses in the event of unforeseen circumstances.

Give Us A Call

If you plan to use your boat exclusively on private property around Falcon, CO you may not need full-coverage boat insurance, but we highly recommend it. Contact Pikes Peak Insurance Agency to find the right policy for your needs.

Do You Need Personal or Commercial Umbrella Insurance?

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Pikes Peak Insurance Agency offers umbrella insurance in both commercial and personal variations, but which do you need? The answer depends on your situation, and you might need both. Our team of insurance experts at  Pikes Peak Insurance Agency can help you evaluate your needs and match you with the right coverage. 

Umbrella Insurance: Personal or Commercial?

Personal Umbrella Insurance in a Nutshell

Your Falcon, CO home receives protection from your home insurance policy, but it mostly covers belongings and the home’s structure. A tiny bit of liability coverage in the home policy typically affords you about 10 to 20 percent of the home’s value in liability coverage. The cost of a settlement from liability incurred due to an accident at your home can cost you much more than that.

Umbrella insurance, a secondary policy type, provides the added coverage needed. When added to a home policy – the primary policy – the personal umbrella insurance offers up to one million dollars of coverage for liability.

The In-Between Option

If you operate a home-based business, you could add a rider for your business to your home insurance and umbrella insurance. This hedges the line between personal and commercial umbrella insurance. You have to meet specific business terms to qualify.

Commercial Umbrella Insurance Rounds It Out

Operating a business in Falcon, CO, requires essential commercial coverage. In a commercial policy, a primary liability policy provides the business with a flat amount of coverage. You choose the amount, but up to the policy limits. Businesses with high liability operations, such as ziplining operations or rock climbing facilities, need more coverage. The commercial umbrella policy provides this.

Give Us A Call

Contact Pikes Peak Insurance Agency for a consultation on your umbrella needs. Some individuals who serve as community leaders need both a personal and a business policy to protect them at home and at their company.

Why You Need Flood Insurance

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If you are a homeowner, you may know about all of the types of insurance coverage that you need to have for your home. However, you may not have all of the coverage that you think you do. If you have a home insurance policy, there are things that it covers as well as things that it doesn’t. One of the things it doesn’t cover is many types of flooding. To be protected against that, you need to have a flood insurance policy.

To get one of your own, call us at Pikes Peak Insurance Agency in Falcon, CO.

Flood Claims

There are some areas that are designated as flood zones, and these areas have a tendency to regularly flood. If you live inside one of these zones, you will likely be required to have coverage for floods. However, it isn’t just those who live in those zones who need this insurance. People outside them also need to have this protection in case of floods. About 20% of all flood claims originate from areas that are outside of flood zones. Without flood insurance, these claims won’t be paid by an insurance policy. Floods can do an enormous amount of damage to a home, and it would all be for you to pay for. 

The National Flood Insurance Program

The government funds and backs flood insurance through the National Flood Insurance Program. This program is there to make sure that people can get flood insurance. They also set the price for these policies. You can get the policy from an insurance company, and the price will be the same anywhere you go. 

Get Your Flood Policy

When you want to keep your home protected from floods, you have to have a flood policy. Call us at Pikes Peak Insurance Agency in Falcon, CO.

Why Every Condo Owner Needs Condo Insurance

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When you own a condo, it can be a great way to build equity and live in a great area. It’s important, however, that you protect that condo with a condo insurance policy. This policy protects you against many different risks so that you are well protected against a wide range of circumstances and occurrences. If your condo isn’t yet covered by a condo policy, don’t wait. Call us now at Pikes Peak Insurance Agency in Falcon, CO to get the protection you need. 

Why Every Condo Owner Needs Condo Insurance

It’s Likely Required

In most cases, it is required for condo owners to have condo insurance. If you take out a mortgage to finance your home, the lender almost certainly requires that you have this coverage in case something happens to it. Even if you don’t have a mortgage on it, most condo boards require you to have condo insurance. While you own your condo, you are subject to their rules. They don’t want to have condos in their complex that are damaged because the owners can’t afford to fix them after a damaging incident happens to them. 

It Offers Great Protection

If something did happen that damaged your condo, repairs could be highly expensive. When you have an insurance policy, it pays for the repairs needed after a covered event happens to it. With this coverage, repairs can be made and paid for by the policy. This coverage also gives you liability protection. It will cover you in case someone has an accident in your home and ends up with medical bills from it. This can keep you from expensive financial liability.

Get Condo Insurance Today

Every condo owner needs this important protection to keep themselves covered in a number of ways. If you need this type of insurance, call us at Pikes Peak Insurance Agency in Falcon, CO.

Life Insurance FAQs

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Having questions about life insurance is not unusual, most people have limited knowledge about it. That’s why they count on their independent insurance agent to help them to get the answers they need. At Pikes Peak Insurance Agency, serving the greater Falcon, CO community, we are dedicated to the highest level of customer service. We are locally owned and we offer our customers more choices when it comes to carriers and the best possible prices. 

Life Insurance FAQs

Who can I choose as the beneficiary?

You can choose anyone you would like, you can choose multiple people. But, if you choose a minor, they will not be able to collect until they are of age in whatever state they live. 

What happens at the end of the term with term insurance?

When your policy reaches the end of its term, it may continue on at a new higher price. Check your original paperwork to make sure what happens. You can choose to let it continue, but it will get increasingly more expensive. It is probably a better idea to price a new policy with your current information. 

I get some life insurance from work. Do I need my own?

If you can guarantee that you will never change jobs or that the company will not go under or be acquired, then maybe no, but the answer really is yes, you do need your own insurance. 

Do I need to get a physical to get a life insurance policy?

No, some life insurance policies are sold without having to have a physical exam. But, that is a bigger risk for the insurance company and you will pay more than you would if you just got the physical. You will have lots fewer choices as well. 

Contact Pikes Peak Insurance Agency in Falcon, CO when you are ready to discuss your life insurance needs.